Special report on “20 Years Since the Asian Financial Crisis”

Reforms, Growth Move Ahead
Diversified, Resilient Economies in 20 Years After Crisis
Economists: Infrastructure, Productivity are Challenges

Kiyoshi KUSAKA

  Principal Economist

2017/04/10

  After 20 years of the Asian Financial Crisis in 1997, survey asked leading economists in five Southeast Asian countries——Indonesia, Malaysia, the Philippines, Singapore, and Thailand——to evaluate the subsequent development of Asian economies. They give high marks on the outcomes, saying that continuing reform have made it possible for the economies to achieve strong growth and to be more diversified and resilient. Introduction of new measures have worked to avoid other financial crises and to make the region's financial system stable. The economies, however, face various challenges including infrastructure developments, increase of productivity and further reforms to keep the growth and to overcome the middle-income trap, the economists add.

Article in Nikkei Asian Review
Related report: JCER/Nikkei Consensus Survey on Asian Economies: April 2017 issue