IDEAS home Printed from
   My bibliography  Save this article

The Fallout of 9/11 on Asian Economies: Policy Options


  • Ravindra Prasad Pandey

    (Nepal Rastra Bank)


As a result of the September 11, 2001 terrorist attacks on the United States, the immediate reaction of various economists around the globe was that the Asian economies, in particular the Southeast Asian economies, would deepen, leaving no room for an early rebound from the 1997 financial crisis. However, as events developed, the global as well as the regional economic developments gave way for greater optimism towards the immediate economic prospects of these countries. The disruption of the economy following the attacks turned out to be less disruptive than originally thought as statistics show distinct signs of improvement in the global economic situation. In the regional front, most regional stock markets rallied and consumer confidence improved, boosting domestic demand. The result of the unprecedented fiscal measures and monetary stimulus such as cuts in interest rates, income tax cuts, and post-attack government spending led to the mild rebound strengthening to more or less a full-blown economic recovery since the later part of 2002.The trend continues even at a faster pace. In nutshell, the completion of completion of initiated reform agenda and maintenance of strong economic fundamentals will provide necessary policy options for the countries in the event of uncertainty in the global recovery.

Suggested Citation

  • Ravindra Prasad Pandey, 2004. "The Fallout of 9/11 on Asian Economies: Policy Options," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 16, pages 91-121, April.
  • Handle: RePEc:nrb:journl:v:16:y:2004:p:91-121

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Robert Scollay & John P. Gilbert, 2001. "New Regional Trading Arrangements in the Asia Pacific?," Peterson Institute Press: Policy Analyses in International Economics, Peterson Institute for International Economics, number pa63, January.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nrb:journl:v:16:y:2004:p:91-121. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dr. Bishnu Prasad Gautam). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.