East Asia and Pacific Economic Update, November 2009 : Transforming the Rebound into Recovery

A vigorous economic rebound is under way in East Asia since the second quarter of 2009, following the sharp impact from the financial crisis and the global recession that began in late 2008. As much as the reduction in exports and industrial produc...

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Bibliographic Details
Main Author:	World Bank
Format:	Publication
Language:	English
Published:	World Bank 2012
Subjects:	ACCOUNTING ADVANCED COUNTRIES ADVANCED ECONOMIES ADVERSE CONSEQUENCES AGRICULTURE ASSET PRICE ASSET PRICES BALANCE SHEETS BANK CREDIT BANK LENDING BANK LOANS BANK OFFICE BANK OFFICES BANKING SUPERVISION BASIS POINTS BENCHMARK BIDS BOND ISSUANCE CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL FLOWS CAPITAL INFLOWS CAPITAL OUTFLOWS CAPITAL REQUIREMENTS CASH TRANSFER CASH TRANSFERS CENTRAL BANK CENTRAL BANKS COLLATERAL COLLATERAL REQUIREMENTS COMMODITIES COMMODITY COMMODITY EXPORTS COMMODITY PRICES CONSUMER SPENDING COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER CORPORATE DEBT CORPORATE INCOME TAXES CORPORATE PROFITS CORPORATE SAVINGS COST STRUCTURES CREDIT GROWTH CREDIT LOSSES CROSS-BORDER FLOWS CURRENCY CURRENCY APPRECIATION CURRENT ACCOUNT BALANCE DEBT LEVELS DEPOSITS DEVELOPMENT BANK DEVELOPMENT STRATEGIES DISBURSEMENTS DISTRIBUTION OF INCOME DOLLAR VALUES DOMESTIC BANKS DOMESTIC BOND DOMESTIC ECONOMY DURABLES ECONOMIC ACTIVITY ECONOMIC DOWNTURN ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC POLICIES EQUIPMENT EQUITIES EQUITY INVESTORS EQUITY PRICES EXCHANGE MARKET EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT PERFORMANCE EXPORT SECTORS EXPORTER EXPORTERS EXPORTS EXTERNAL BORROWING FEDERAL RESERVE FINANCIAL CONTAGION FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FORECASTS FOREIGN BANKS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FOREIGN EXCHANGE RESERVES FOREIGN INVESTORS FOREIGN TRADE GDP PER CAPITA GLOBAL CAPITAL GLOBAL ECONOMY GLOBAL MARKET GLOBAL MARKETS GLOBAL TRADE GOVERNMENT BONDS GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT POLICIES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH PROJECTIONS GROWTH RATE GROWTH RATES HOLDINGS HOUSEHOLD INCOME HOUSEHOLD INCOMES INCOME GROWTH INCOME INEQUALITY INCOME TAX INCOME TAXES INFLATION INFORMATION TECHNOLOGY INFRASTRUCTURE PROJECTS INITIAL PUBLIC OFFERING INITIAL PUBLIC OFFERINGS INSTITUTIONAL CAPACITY INSURANCE INTEREST BURDENS INTERNATIONAL BANK INTERNATIONAL BANKS INVENTORIES INVENTORY INVESTMENT BANK INVESTMENT CORPORATION INVESTMENT FLOWS INVESTOR CONFIDENCE IPO ISSUANCE JOB CREATION LABOR MARKET LENDERS LIQUIDITY LIVING STANDARDS LOAN LOCAL CURRENCY LOCAL ECONOMIES LOCAL GOVERNMENTS LOCAL INVESTORS LONG-TERM DEBT LOW-INCOME COUNTRIES MACROECONOMIC POLICIES MARKET SHARE MATURITIES MICRO ENTERPRISES MICRO-ENTERPRISES MIDDLE INCOME COUNTRIES MIDDLE-INCOME COUNTRIES MOBILE PHONE MOBILE PHONES MONETARY AUTHORITIES MONETARY AUTHORITY MONETARY FUND MONETARY POLICIES MONETARY POLICY MORTGAGE MORTGAGES NET CAPITAL NET EXPORTS NONPERFORMING LOANS OPEN COUNTRIES OPEN ECONOMIES OUTPUT OUTPUT GAPS OUTPUTS OUTSOURCING PENSION PER CAPITA INCOME PERSONAL INCOME POLICY RESPONSE POLICY RESPONSES PORTFOLIO PORTFOLIO INVESTMENTS POST-CRISIS PERIOD POWER PARITY PREMATURE WITHDRAWAL PRICE INCREASES PRIVATE INVESTMENT PROTECTIONISM PUBLIC COMPANIES PURCHASING POWER RAPID GROWTH REAL ESTATE REAL GDP RECESSION REMITTANCE REMITTANCES REPAYMENT RESERVE REQUIREMENTS RETURN RETURN ON ASSETS RETURNS SAFETY NETS SECURITIES SHARE PRICES SKILLED WORKERS SMALL ENTERPRISES SOCIAL PROTECTION SPECULATIVE BUBBLES STATE ENTERPRISES STOCK EXCHANGE TAX TAX BREAKS TELECOMMUNICATIONS TRADE FINANCE TRADE FINANCING TRADE POLICIES TRADING TREASURIES TROUGH TURNOVER UNEMPLOYMENT UNEMPLOYMENT RATES VALUE ADDED VERTICAL INTEGRATION VOLATILE CAPITAL WAGES WEALTH WORKING CAPITAL
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20091210003910 http://hdl.handle.net/10986/2691

Description
Summary:	A vigorous economic rebound is under way in East Asia since the second quarter of 2009, following the sharp impact from the financial crisis and the global recession that began in late 2008. As much as the reduction in exports and industrial production across the region in the fourth quarter of 2008 and the first quarter of 2009 was unexpectedly swift and deep, so is the strength of the rebound, with doubts about green shoots dispelled in a matter of months and replaced by near-consensus views of a synchronized global rebound led by emerging East Asia. The robust rebound is due to a combination of timely and large fiscal and monetary stimulus in most countries in East Asia, notably in China, and a powerful process of inventory restocking that began after mid-2009. Globally, the advanced economies joined the rebound trend in the third quarter of 2009, and their contributions to global industrial production notably driven by inventory accumulation have begun to outpace the contribution from the East Asia region. These developments are set against a background of solid macroeconomic fundamentals, including high foreign exchange reserves, large private and corporate savings, and low corporate and government debt. The region's well-capitalized banks and much improved banking supervision since the 1997-98 Asian financial crisis have also helped limit financial contagion and the transmission of the forces of global recession.

East Asia and Pacific Economic Update, November 2009 : Transforming the Rebound into Recovery

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