This edition of the World Economic Outlook explores how a dramatic escalation of the financial crisis in September 2008 provoked an unprecedented contraction of activity and trade, despite active policy responses. It presents economic projections for 2009 and 2010, and also looks beyond the current crisis, considering factors that will shape the landscape of the global economy over the medium term, as businesses and households seek to repair the damage. The analysis also outlines the difficult policy challenges presented by the overwhelming imperative to take all steps necessary to restore financial stability and revive the global economy, and the longer-run need for national actions to be mutually supporting. The first of two analytical chapters, "What Kind of Economic Recovery?" explores the shape of the eventual recovery. The second, "The Transmission of Financial Stress from Advanced to Emerging and Developing Economies," focuses on the role of external financial linkages and financial stress in transmitting economic shocks.

The Asian financial crisis of 1997-1998 caused severe hardship in Southeast Asia, and many countries tightened their regulation of banks and other financial institutions, adopted more conservative fiscal policies, and made themselves less vulnerable to Western market fluctuations by forming closer trade and investment ties with their neighbors. This book analyzes the major political and economic reforms that resulted from the Asian financial crisis, looking particularly at how such reforms helped to prepare Asian countries for coping with the 2009 global recession. In each of the ten country chapters, the historical background, social and political system, economic development, and foreign relations of each country are analyzed and compared with those of neighboring countries. The concluding chapter looks ahead at the prospects for Southeast Asia in a more integrated Asian region. Instructors considering this book for use in a course may request an examination copy here.

Critically examines ASEAN's human rights system in the context of Southeast Asian political-legal developments and the global human rights discourse