In the current global financial crisis, 15 September 2008 marked a decisive turning point. It was the day that the American investment bank Lehman Brothers Holdings, Inc. collapsed, exacerbating the financial turmoil and causing an extraordinary downward spiral in confidence. It was also the day...

The development path of Asia and the Pacific has increasingly relied on economic growth led by rapid export growth. What does the financial crisis imply for the region’s future development path? The second policy brief in this series on the financial crisis assesses the extent to which...