The Asian Development Experience: Overcoming Crises and Adjusting to Change

The Asian Development Experience may well be both a summation and a forward-looking thinking of the author's life time professional interests. Its inspiration comes from teh themes, seminars, and discussions at the 34th Annual Ministerial Meeting of the Asian Development Bank, held in Honolulu, Hawaii, in May 2001.

The book delves into such questions as: Was Asia's rapid economic growth really a miracle Are there environmental and societal limits to growth Can pro-poor growth policies alleviate mass poverty Can information and communications technology bridge the digital divide What can be done to head off financial crises Will regional cooperation calm macroeconomic turbulence

The author stresses that, now more than ever, Asia is a region largely integrated into the global economy. Drawing heavily from personal research and policy participation, he notes that integration has brought with it many benefits, such as rapid economic growth and openess in trade, investment, and knowledge diffusion; however, integration has also heightened the region's vulnerability to regional and international developmnets, such as the Asian financial crisis. He concludes that Asia's regional uniqueness provides an opportunity for cooperative endeavors to deal expeditiously with problems that are closest to their source.

Contents:

Preface
Contents
Acronymns and Abbreviations

CHAPTER I. INTRODUCTION
Overview
The Asian Development Experience
Common Factors in Asian Growth and Development
The Flying Geese Model
The Role of the State

CHAPTER II. IS GROWTH IN DEVELOPING ASIA SUSTAINABLE
The Environmental Challenge
The Social Welfare Challenge
The Challenge of Raising Total Factor Productivity
Sustainability of Asian Development

CHAPTER III. INFORMATION AND COMMUNICATIONS TECHNOLOGY IN ASIA'S FUTURE DEVELOPMENT
An Assessment of Developing Asia's Export-Led
Asia's Multiple Digital Divides: Some Implications for Development
Bridging the Digital Divide: Expanding the KNowledge Infrastructure

CHAPTER IV. THE POVERTY, DISTRIBUTION, AND GROWTH NEXUS
Poverty and Inequality
Growth, Development, and Income Distribution
Overview of Poverty in Asia
Poverty Reduction Strategy

CHAPTER V. FINANCIAL DEVELOPMENT, CRISIS, AND REFORMS
Financial Intermediation: Its Practice and Failings
The Case for Financial Deepening in Developing Asia

CHAPTER VI. REGIONAL COOPERATION
Rising Interdependence in Asia
Evolution of Regional Cooperation in Asia-Pacific
"Natural" Economic Integration
The Asian Financial Crisis and Regional Financial Cooperation

CHAPTER VII. THE ROLE OF ADB AND GOVERNMENT IN ASIAN DEVELOPMENT
Summary of Suggestions
Revisiting the Asian Development Bank's Core Mission
The Tasks Ahead

TABLES

REFERENCES