Publication: East Asia and the Pacific Confronts the “New Normal”
Date
2010-07
ISSN
Published
2010-07
Author(s)
Nehru, Vikram
Abstract
Developing East Asia is leading the
global economic recovery, although performance varies across
the region. In some countries, the monetary stance is
already being tightened in light of emerging inflationary
pressures; but it is premature to withdraw the fiscal
stimulus until the global recovery is on a firmer footing.
Fortunately, most countries in the region have adequate
fiscal space and relatively low debt burdens. To ensure that
the momentum of the recovery transitions into sustainable
and inclusive growth over the medium term, the governments
in the region must once again focus their attention on
medium-term structural reforms. This means different policy
priorities in different countries especially given the
diversity of the region. In addition, the region faces two
common priorities regional economic integration and climate
change. Making progress on both fronts will be critical to
the region's medium-term prospects.
Citation
“Nehru, Vikram. 2010. East Asia and the Pacific Confronts the “New Normal”. Economic Premise; No. 24. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/d1d08938-4aed-55d5-a354-b74e1372d442 License: CC BY 3.0 IGO.”