Asia’s Economy to Grow by 50% in Five Years

The new issue of the IMF’s Finance & Development magazine explores how Asia is moving into a leadership role in the world economy. Anoop Singh, Director of the IMF’s Asia and Pacific Department, says that, based on expected trends, within five years Asia’s economy will be about 50 percent larger than it is today and be comparable in size to the economies of the United States and Europe.

The issue looks at Asia’s biggest economy, China, which has relied heavily on exports to grow, and its need to increase domestic demand and to promote global integration if it is to continue to thrive. China is not the only Asian economy that heavily depends on exports and all of them might take some cues from the region’s second-biggest economy, India, which has a highly developed services sector.  

Continue reading

Sudden Financial Arrest and Much More: IMF’s Annual Research Conference Gets Under Way

By Olivier J. Blanchard 

With the global economic crisis as a backdrop, some of the world’s leading economists will soon join us here in Washington, D.C. for two days of intense, scholarly debate. Not surprisingly, the papers submitted for the IMF’s Jacques Polak Annual Research Conference are colored by the events of the past two years.

To give you an idea, Ricardo Caballero of MIT, our keynote speaker this year, plans to tell us about the striking and terrifying similarities between a sudden cardiac arrest and a financial crisis.

The IMF’s research conference, slated to take place on November 5–6, will be celebrating its 10th anniversary this year. Since it was first launched, the conference has become one of the main international venues for researchers and policymakers to exchange ideas. The theme of this year’s conference is “Financial Frictions and Macroeconomic Adjustment.”

Continue reading

%d bloggers like this: