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East Asia Updates - December 2018

dc.date.accessioned2019-02-13T19:16:00Z
dc.date.available2019-02-13T19:16:00Z
dc.date.issued2018-12-30
dc.identifier.urihttp://hdl.handle.net/11540/9499
dc.description.abstract2018 was a challenging year for policymakers in the East Asia region. Nonetheless, countries in the region were generally able to navigate through the challenges. As sources of downside risks remain, policymakers in the region need to remain vigilant and continue to push for reform. Global economic expansion in 2018, including the East Asia region, was lower than in 2017. This was in contrast with the projection and optimism at the start of 2018 and mostly due to various economic shocks followed by financial market volatilities. On economic performance in the second half of 2018, amongst advanced economies, the divergence in growth between the United States (US) and the eurozone continued in the third and fourth quarter, where the US continued to grow at a faster rate. Meanwhile, in the East Asia region, third quarter economic growth slowed compared to the second quarter in most countries. This was mostly driven by the contribution of negative net exports to growth, either due to a contraction in exports growth or a large pickup in imports growth. For the fourth quarter, the manufacturing purchasing manager index (PMI) shows expansion was unbalanced across the countries in the region. Around half of the countries recorded an expansion in manufacturing activity, while the other half recorded a contraction. On the financial front, market volatility increased from October, erasing the year-to-date returns of the global stock market. Similarly, most stock markets in the region recorded negative returns, and government bond yields in several countries increased. Consequently, almost all currencies in the region depreciated against the US dollar. Nonetheless, despite the volatility, policymakers in the region were largely able to maintain macroeconomic stability. Entering 2019, the global economic projection has been revised down due to various uncertainties. The main risks include unresolved trade tensions between the US and China, pressure on some emerging markets’ macroeconomic stability, idiosyncratic country shocks, and the long-term challenges of increasing productivity and innovative capability, which rest upon investment in human capital.
dc.languageEnglish
dc.publisherEconomic Research Institute for ASEAN and East Asia
dc.titleEast Asia Updates - December 2018
dc.typeReports
dc.subject.expertMacroeconomic
dc.subject.expertMacroeconomic Analysis
dc.subject.expertMacroeconomic Framework
dc.subject.expertMacroeconomic Models
dc.subject.expertMacroeconomic Performance
dc.subject.expertMacroeconomic Planning
dc.subject.expertMacroeconomic Policies
dc.subject.expertMacroeconomic Reform
dc.subject.expertMacroeconomic Stabilization
dc.subject.expertResults-Based Monitoring And Evaluation
dc.subject.expertProject Evaluation & Review Technique
dc.subject.expertProject Evaluation
dc.subject.expertProgram Evaluation
dc.subject.expertPerformance Evaluation
dc.subject.expertOperations Evaluation
dc.subject.expertEvaluation Methods
dc.subject.expertEvaluation
dc.subject.adbSocial condition
dc.subject.adbEconomic dependence
dc.subject.adbEconomic assistance
dc.subject.adbInternational monetary relations
dc.subject.adbInternational monetary relations
dc.subject.adbInternational trade
dc.subject.adbNational accounting
dc.subject.adbMarket
dc.subject.adbProject impact
dc.subject.adbDevelopment projects
dc.subject.adbProgram management
dc.subject.adbPerformance appraisal
dc.subject.adbProject appraisal
dc.subject.adbTechnology assessment
dc.subject.adbEconomic indicators
dc.subject.adbGrowth models
dc.subject.adbGross domestic product
dc.subject.adbMacroeconomics
dc.subject.adbEconomic forecast
dc.subject.adbExports
dc.subject.naturalExports
dc.subject.naturalExchange
dc.subject.naturalComparative economics
dc.subject.naturalIndex number
dc.subject.naturalMonetary policy
dc.subject.naturalValue analysis
dc.subject.naturalAdjustment cost
dc.subject.naturalTransaction cost
dc.subject.naturalConditionality
dc.subject.naturalInternational relations
dc.subject.naturalCumulative effects assessment
dc.subject.naturalGrievance procedures
dc.subject.naturalParticipatory monitoring and evaluation
dc.subject.naturalExchange rate
dc.subject.naturalEconomic development projects
dc.subject.naturalEconomic policy
dc.subject.naturalEconomic forecasting
dc.subject.naturalExchange rates
dc.contributor.imprintEconomic Research Institute for ASEAN and East Asia
oar.themeEconomics
oar.themeEvaluation
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-009101
oar.authorAsia, Economic Research Institute for ASEAN and East
oar.importTRUE
oar.googlescholar.linkpresenttrue


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