Two-thirds of the world's poor live in Asia. The major objective for the region, therefore, must be to reduce poverty. It has become clear in the wake of the crisis that the public sector can no longer shoulder the burden of financing pro-poor growth alone. At the same time, it is also clear...

Remittances to Asia plunged during the 1997 Asian financial crisis, but the drop was temporary as the flows were increasing once again after just 1 year. The current crisis, however, is fundamentally different in that even the countries that send remittances have been adversely affected. The...

A key legacy of the Asian financial crisis of 1997-1998 is a sustained drop-off in the investment rates of East Asian countries that were hardest hit by the crisis. We first review the stylized facts of investment in those countries, and then explore and evaluate the various possible...