Includes bibliographical references and index.

Anatomy of Asian financial crises -- The determinants and prospects of economic growth in Asia -- Overinvestment, collateral lending, and economic crisis -- Financial reform and the efficiency of credit allocation in Korea -- Growth and investment in East Asia before and after the financial crisis -- Asian financial crises: responses and lessons -- Recovery and sustainability in East Asia -- Crisis and recovery: what we have learned from the South Korean experience? -- Financial crisis and credit crunch in Korea: evidence from firm-level data -- IMF programs: who is chosen and what are the effects? -- Exchange rate regime and monetary policy independence in East Asia -- Global financial crisis and challenges to Asia's sustained growth -- Crises in Asia: historical perspectives and implications -- Global financial turmoil: impact and challenges for Asia's financial systems -- Real and financial integration in East Asia -- Emerging Asia: decoupling or recoupling -- Financial integration in emerging Asia: challenges and prospects -- Will the renminbi emerge as an international reserve currency? -- Economic growth in Asia: determinants and prospects.

"A collection of selected articles related to the Asian experience with two crises -- the Asian financial crisis in 1997-98 and the global financial crisis of 2007-08 -- written by Dr Jong-Wha Lee, former chief economist of the Asian Development Bank. These papers are grouped into three broad topics: Anatomy of Asian Growth and Crises, Asian Financial Crises: Responses and Lessons, and Global Financial Crisis and Challenges to Asia's Sustained Growth. The topics include the relation of the East Asia's development strategies with the 1997-98 Asian financial crisis, the causes of the Asian financial crisis, the desirability of IMF programs, the assessment of recovery and structural reforms, the process of spillovers of the global financial crisis to Asia, regional and global economic linkages, the role of China and the renminbi, and the long-term growth projections of Asian economies. The research collected in this book will be very useful for policymakers who want to learn from the Asian experience with the crises and it is a key contribution to ongoing research and policy debates on the future of Asian economies"--