| Summary: | The paper outlines current macroeconomic developments in industrial countries and
explains how slower growth in these economies is being transmitted to developing
economies in Asia. The macroeconomic outlook for industrial countries in 2009 is
discussed along with the transmission mechanism that has brought the global downturn to
the Asian economies. Monetary and fiscal policy adjustments in Asian economies have
been implemented to address the downturn in economic activity and these policies are
discussed in some depth All the major countries in East Asia, Southeast Asia and South
Asia are analysed Thepaper concludes with a brief review of the outlookfor 2010.
Keywords: global recession, monetary"and fiscal policy, Asian economies, economic outlook
|
|---|