Strengthening Social Protection Systems in Asia and the Pacific in the Aftermath of the Global Financial Crisis

Trade and Investment Division, ESCAP and Macroeconomic Policy and Financing for Development Division, ESCAP

No PB2, MPDD Policy Briefs from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Abstract: TRADE DECOUPLING IN TIMES OF FINANCIAL CRISIS: MYTH OR REALITY? 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 developing economies1 are export dependent, and the extent to which their exports are dependent on developed markets that have been hit the hardest in the current crisis. Drawing from this assessment, it comments on the reality or myth of a “decoupling” process for Asia. Finally, it offers some policy options for the region.

Date: 2009-06
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