Asia proved to be remarkably resilient in the face of the global financial crisis, but why was its output performance … vulnerabilities—contributed significantly to Asia’s resilience. Key pre-crisis factors included moderate credit expansion, reliance on … financial crisis. Looking ahead, Asia is in the process of adjusting to more volatile external conditions and higher risk …

diverted FDI from other countries in Asia. We develop a new methodology to estimate crowding out, and we use it to investigate … the impact of China''s emergence on FDI flows to Asia using data from 14 Asian economies from 1984 to 2002. The results …