World Bank2012-03-192012-03-192010978-0-8213-8495-4https://hdl.handle.net/10986/2536Output has recovered to above pre-crisis levels throughout developing East Asia and, in some countries, is expanding at near pre-crisis rates. Real Gross Domestic Product (GDP) is likely to rise 8.9 percent in the region in 2010, up from 7.3 percent in 2009 and in line with the average growth rate during 2000-08. Economic expansion is projected to slow to about 7.8 percent in 2011, as spare capacity becomes scarce, fiscal and monetary stimulus measures are gradually unwound, and economic growth in the advanced economies remains relatively flat. Encouragingly, the private sector is once again becoming the engine of growth, confidence is returning, and trade flows have returned to pre-crisis levels. But the recovery so far has generated little incremental manufacturing employment in some of the middle-income countries. With output gaps closing rapidly and private investment recovering strongly, the authorities in most East Asian countries are unwinding their stimulus measures. Finally, a more consistent application of policy incentives for investment and growth across space is called for, especially recognizing China's unique combination of fiscal decentralization and centralized government structure. Extending preferential policies related to taxation and deregulation further inland, broadening the access to credit, and standardizing basic health and education services across provinces will greatly level the playing field in favor of the inland provinces, improving both equity and growth.CC BY 3.0 IGOADVANCED COUNTRIESADVANCED ECONOMIESAGGREGATE DEMANDASSET PRICEASSET PRICESBALANCE OF PAYMENTSBANK CREDITBANK LENDINGBANK LOANSBANK OFFICESBANKINGBASIS POINTSBINDING CONSTRAINTBONDBONDSBORROWERSBUSINESS ENVIRONMENTCAPITAL ACCOUNTCAPITAL ACCOUNTSCAPITAL ACCUMULATIONCAPITAL ADEQUACYCAPITAL CONTROLSCAPITAL FLOWSCAPITAL GAINSCAPITAL INFLOWSCAPITAL INVESTMENTSCAPITAL OUTFLOWSCAPITAL STOCKCENTRAL BANKCENTRAL BANKSCOLLATERALCOLLATERAL REQUIREMENTSCOLLATERALSCOMMERCIAL BANKSCOMMODITYCOMMODITY PRICECOMMODITY PRICESCOMMUNICATIONCOMMUNICATION TECHNOLOGYCONNECTIVITYCONSUMER DEMANDCONSUMER PRICE INDEXCOPYRIGHT CLEARANCECOPYRIGHT CLEARANCE CENTERCURRENCIESCURRENT ACCOUNT SURPLUSCURRENT ACCOUNT SURPLUSESDEBT SECURITIESDEPOSITDEPOSITSDEREGULATIONDEVELOPING COUNTRIESDEVELOPMENT BANKDOMESTIC ECONOMYDOMESTIC INSTITUTIONAL INVESTORDOMESTIC MARKETSDOMESTIC PRICEECONOMIC CRISISECONOMIC DOWNTURNECONOMIC INTEGRATIONEMERGING MARKETSEQUITIESEQUITYEQUITY PRICEEQUITY PRICESEXCHANGEEXCHANGE MARKETEXCHANGE RATEEXCHANGE RATE REGIMEEXCHANGE RATESEXPORT GROWTHEXPOSUREFINANCEFINANCIAL CRISESFINANCIAL CRISISFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARIESFINANCIAL MARKETFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL SECTOR STABILITYFINANCIAL STABILITYFINANCIAL SYSTEMFISCAL DECENTRALIZATIONFISCAL DEFICITFISCAL DEFICITSFIXED INCOMEFIXED INVESTMENTFOOD PRICEFOOD PRICESFOREIGN ASSETSFOREIGN BANKSFOREIGN CAPITALFOREIGN CURRENCYFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE MARKETFOREIGN EXCHANGE MARKETSFOREIGN INSTITUTIONAL INVESTORFOREIGN INSTITUTIONAL INVESTORSFOREIGN INVESTMENTFOREIGN INVESTORSFOREIGN OWNERSHIPFOREIGN PORTFOLIOFOREIGN PORTFOLIO INVESTMENTFREE TRADEFREE TRADE AGREEMENTFUND MANAGERSFUTUREGLOBAL ECONOMIC PROSPECTSGLOBAL ECONOMYGLOBAL MARKETGLOBALIZATIONGOVERNMENT BONDSGOVERNMENT DEBTGROSS DOMESTIC PRODUCTGROWTH RATEGROWTH RATESGUARANTEEHUMAN CAPITALINCOMEINCOMESINDUSTRIAL COUNTRIESINFLATIONINFLATION EXPECTATIONSINFLATION RATEINFLATION TARGETINFLATIONARY PRESSURESINFORMATION TECHNOLOGYINFRASTRUCTURE INVESTMENTINFRASTRUCTURE INVESTMENTSINITIAL PUBLIC OFFERINGINITIAL PUBLIC OFFERINGSINNOVATIVE TECHNOLOGIESINSTITUTIONAL INVESTORINSTITUTIONAL INVESTORSINSURANCEINTERESTINTEREST RATEINTEREST RATESINTERNATIONAL BANKINTERNATIONAL CAPITALINTERNATIONAL MARKETSINTERNATIONAL SETTLEMENTSINTERNATIONAL TRADEINVESTMENTINVESTMENT CLIMATEINVESTMENT CORPORATIONIPOLABOR MARKETLIQUIDITYLOANLOCAL CURRENCIESLOCAL CURRENCYLOW-INCOME COUNTRIESMACROECONOMIC STABILITYMARKET CAPITALIZATIONMARKET SHAREMATURITY MISMATCHESMIDDLE-INCOME COUNTRIESMIDDLE-INCOME ECONOMIESMONETARY AUTHORITIESMONETARY FUNDMONETARY POLICIESMONETARY POLICYMONEY MARKETMORTGAGESMULTINATIONAL CORPORATIONNATURAL DISASTERSNEW PRODUCTSNOMINAL INTEREST RATENON-PERFORMING LOANNON-PERFORMING LOANSNPLOUTPUTOUTPUT GAPOUTPUT GAPSOUTPUT RATIOOVERSEAS HOLDINGSPORTFOLIOPORTFOLIO FLOWSPOVERTYPRICEPRICE VOLATILITYPRICESPRIVATE CAPITALPRIVATE INVESTMENTPRIVATE INVESTMENTSPUBLIC DEBTPUBLIC FINANCESPUBLIC-PRIVATE PARTNERSHIPSRAPID GROWTHREAL ESTATEREGIONAL INTEGRATIONREGULATORY CAPITALREMOTE AREASRESERVERESERVE FUNDRESERVE REQUIREMENTSRESERVESREVENUERISK DIVERSIFICATIONSAVINGSECONDARY MARKETSSECURITYSHARESSOCIAL SAFETY NETSSTOCK MARKETSSUBSIDIESSUBSIDYSUPPLY SHOCKSSUSTAINABLE GROWTHTAXTRADE DEFICITSUNEMPLOYMENT RATEURBANIZATIONVOLATILITYWORLD DEVELOPMENT INDICATORSWORLD MARKETWorld Bank10.1596/978-0-8213-8495-4