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The Global Financial Crisis and Macroeconomic Policy Issues in Asia

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  • Shinji Takagi

    (Asian Development Bank Institute)

Abstract

Responding to the severe negative impact of the recent global financial crisis, many Asian economies resorted to substantial easing of macroeconomic policies. This policy brief reviews the principal policy measures implemented, examines the issues that have emerged from this extraordinary experience, and concludes with a forward-looking discussion of medium- to longer-term measures to improve the effectiveness of macroeconomic policies and to make the world and the region a safer place.

Suggested Citation

  • Shinji Takagi, 2009. "The Global Financial Crisis and Macroeconomic Policy Issues in Asia," ADBI Policy Briefs 32, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbipb:0032
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    File URL: http://www.adbi.org/research-policy-brief/2009/12/18/3423.gfc.macroeconomic.policy.issues.asia/
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    References listed on IDEAS

    as
    1. Peter J. Morgan, 2012. "The Role and Effectiveness of Unconventional Monetary Policy," Chapters, in: Masahiro Kawai & Peter J. Morgan & Shinji Takagi (ed.), Monetary and Currency Policy Management in Asia, chapter 2, Edward Elgar Publishing.
    2. John B. Taylor, 2009. "The Lack of an Empirical Rationale for a Revival of Discretionary Fiscal Policy," American Economic Review, American Economic Association, vol. 99(2), pages 550-555, May.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Dilip K. Das, 2012. "How did the Asian economy cope with the global financial crisis and recession? A revaluation and review," Asia Pacific Business Review, Taylor & Francis Journals, vol. 18(1), pages 7-25, January.
    2. Jayant Menon, 2021. "ASEAN’s newer member countries in two financial crises: Impact, response and lessons," Departmental Working Papers 2021-27, The Australian National University, Arndt-Corden Department of Economics.

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    More about this item

    Keywords

    asian eased macroeconomic polices; global financial crisis; macroeconomic policy issues;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General

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