Growth with Resilience in East Asia and the 2008–2009 Global Recession. Asian Development Review, Vol. 29(2), pp. 183-206
Briguglio, Lino; Piccinino, Stephen | August 2012
Abstract
This paper assesses why the 2008–2009 global economic recession impacted
East Asia less than it did the United States (US) and the European Union
(EU). The paper utilizes a “growth-with-resilience” (GWR) index aimed at
measuring the extent to which a country can absorb or counteract external
shocks and at the same time promote economic growth. The main findings
show higher GWR index scores for East Asia compared to those for the EU
and the US, which may explain why the global recession had a milder impact
on the region. The study also shows East Asia as being very heterogeneous,
with major differences in the countries’ economic, political, and social
realities, more so than in the US and EU. Therefore, the overall picture for the
region may not apply to individual economies.
Citation
Briguglio, Lino; Piccinino, Stephen. 2012. Growth with Resilience in East Asia and the 2008–2009 Global Recession. Asian Development Review, Vol. 29(2), pp. 183-206. © Asian Development Bank. http://hdl.handle.net/11540/1633. License: CC BY 3.0 IGO.Citable URI
http://hdl.handle.net/11540/1633Metadata
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