The Implications of a Global Financial Crisis for Asia and the ADB: Lessons from Evaluation

Abstract

This paper explores the consequences of scenarios for developing Asia. It discusses country policy options, including possible enhanced regional and global coordination, and reviews the lessons learned from past evaluations concerning how the multilateral development banks (MDBs), and particularly the Asian Development Bank (ADB), might be able to help. It considers (in five chapters after this introductory one) the potential for a euro crisis and the possible implications for developing Asia; developing Asia’s policy options; the priorities in such circumstances for ADB’s support to its developing member countries (DMCs), based on the lessons learned from evaluation; the emerging institutional issues; and the implications of the paper’s analysis for the medium-term priorities of DMCs, ADB, and the Independent Evaluation Department (IED) itself.