## Regional Economic Outlook: Asia and Pacific, October 2009: Building a Sustained Recovery

_Asia and Pacific, October 29, 2009_

## Source details

**Canonical URL:** [Regional Economic Outlook: Asia and Pacific, October 2009: Building a Sustained Recovery](https://www.imf.org/en/publications/reo/apac/issues/2017/01/07/regional-economic-outlook-asia-and-pacific8)

## Other formats

- [Markdown version](/en/publications/reo/apac/issues/2017/01/07/regional-economic-outlook-asia-and-pacific8/index.md)
- [Structured JSON version](/en/publications/reo/apac/issues/2017/01/07/regional-economic-outlook-asia-and-pacific8/index.json)
- [Bundle manifest](/en/publications/reo/apac/issues/2017/01/07/regional-economic-outlook-asia-and-pacific8/bundle-manifest.json)

## Bibliographic details
- Published: October 29, 2009
- Series: Asia and Pacific

---

### Executive summary and headline findings
- Asia has rebounded fast from the depth of the global crisis.
- Initially, the region was hit extremely hard, with output in most countries shrinking by much more than even those nations at the epicenter of the crisis.
- Starting in February 2009, Asia's economy began to revive.
- Exports and industrial production have increased again, financial pressures have eased, and confidence has largely been restored.
- The report examines the latest developments in Asia, prospects for the period ahead, and policy steps needed to sustain the recovery and rebalance Asia's medium-term growth.

### Asia’s recovery in the global context
- What has been driving Asia’s recovery?
  - Revival in exports and industrial production beginning in February 2009.
  - Eased financial pressures and restored confidence.
- What lies ahead?
  - The report discusses prospects for the period ahead (no numeric growth forecasts provided in the source content).
- Key policy challenges
  - Sustaining the recovery.
  - Rebalancing Asia's medium-term growth.

### Japan: lessons from its banking crisis
- Theme: How Japan recovered from its banking crisis and possible lessons for the current Great Recession.
- Sections included:
  - Japan’s Lost Decade: From Crisis to Recovery
  - How Does the Current Great Recession Compare with Japan’s Lost Decade?
  - Potential Implications for the Global Outlook and Policies

### Corporate savings and rebalancing in Asia
- Key questions examined:
  - Does higher corporate saving affect household behavior?
  - What influences corporate savings in Asia?
  - The policy implications of corporate saving behavior for rebalancing.
- Supporting materials and appendixes:
  - Appendix 3.1. Corporate and Household Savings
  - Appendix 3.2. Regressions on the Determinants of Corporate Savings

### Boxes, charts, tables, and figures (selected topical highlights)
- Boxes on sectoral and policy issues include:
  - 1.1 How Have Low-Income Countries in Asia Fared Amid the Global Crisis?
  - 1.2 Fiscal Stimulus: Assessing Effectiveness and Sustainability
  - 1.3 Monetary Transmission in Asia: Is It Working?
  - 1.4 Capital Inflows and Policy Responses
  - 1.5 Implications of the Global Crisis for Asia’s Potential Output
  - 1.6 Economic Impact of Recent Natural Disasters in Asia
  - 1.7 Exit from SME Support Measures
  - 1.8 Global Shifts in Demand: Making Up for Weaker Consumption in the United States
  - 1.9 Macro-Stabilization in Mongolia: An Emerging Success Story
  - 3.1 Corporate Savings, Household Income, and Private Spending in Japan
  - 3.2 Savings in China
- Figures and tables cover:
  - Current Recession: Real GDP Growth; Assessing Global Growth Momentum; World Growth; World Trade and Asia’s Industrial Production.
  - Numerous Asia- and country-level series: industrial production, exports, fiscal stimulus composition and implementation, policy rates, capital inflows, exchange rates, stock markets, bank balance-sheet indicators, private consumption, employment, consumer confidence, output gaps, inflation, current accounts, GDP growth, property prices, and measures related to corporate and household savings.
  - Japan-specific series: Public Funds Allocated to the Financial Sector (1999–2008), phases in Japan’s banking crisis, fiscal stimulus and growth, policy rate and stock market index, nonperforming loans, bank capital and lending, corporate leverage and investment, public debt, Bank of Japan assets, household debt, and real GDP.

### Data, language availability, and access
- Publication: Regional Economic Outlook: Asia and Pacific, October 2009.
- Reports and related links available in English; summaries available in 中文, 日本語, Korean, Laotian, Vietnamese.
- Full text available (use the free Adobe Acrobat Reader).

*International Monetary Fund*

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## Content in this bundle

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---

## References

- [Press Release:](https://www.imf.org/external/np/sec/pr/2009/pr09372.htm)
- [Regional Economic Outlooks](http://www.imf.org/external/pubs/ft/reo/reorepts.aspx)
- [World Economic Outlook](https://www.imf.org/external/pubs/ft/weo/2009/02/index.htm)
- [Ordering Information](https://www.imf.org/external/pubs/cat/longres.cfm?sk=22914.0)
- [Disclaimer](https://www.imf.org/external/terms.htm)
- [Adobe Acrobat Reader)](https://www.imf.org/adobe)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/publications/reo/apac/issues/2017/01/07/regional-economic-outlook-asia-and-pacific8_