LEADER 09126oam 22014534 450 001 9910974344703321 005 20250426110839.0 010 $a9786613846655 010 $a9781463997335 010 $a1463997337 010 $a9781463969127 010 $a1463969120 010 $a9781283534208 010 $a1283534207 010 $a9781463973063 010 $a1463973063 035 $a(CKB)2550000000099563 035 $a(EBL)1587281 035 $a(SSID)ssj0000674635 035 $a(PQKBManifestationID)11437818 035 $a(PQKBTitleCode)TC0000674635 035 $a(PQKBWorkID)10660161 035 $a(PQKB)10303068 035 $a(MiAaPQ)EBC1587281 035 $a(Au-PeEL)EBL1587281 035 $a(CaPaEBR)ebr10556800 035 $a(CaONFJC)MIL384665 035 $a(OCoLC)867927548 035 $a(IMF)REOAPDEE2011002 035 $a(IMF)REOAPDEA2011002 035 $aREOAPDEA2011002 035 $a(EXLCZ)992550000000099563 100 $a20020129d2011 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aRegional Economic Outlook, October 2011, Asia and Pacific : $eNavigating an Uncertain Global Environment While Building Inclusive Growth 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2011. 215 $a1 online resource (56 p.) 225 1 $aRegional Economic Outlook 225 0$aWorld economic and financial surveys 300 $a"Oct 11." 311 08$a9781616351274 311 08$a1616351276 320 $aIncludes bibliographical references. 327 $aCover; Contents; Definitions; Executive Summary; I. Navigating an Uncertain Global Environment; A. Resilient Domestic Demand Amid Pockets of Inflation Pressure; Figures; 1.1 Selected Asia: Real GDP at Market Prices; 1.2 Selected Asia: Exports of Goods; 1.3 Selected Asia: Financial Condition Index (FCI); 1.4 Selected Asia: Contributions to Year-to-Date Changes in REER; 1.5 Selected Asia: Change in Inflation Rates since January 2011; 1.6 Selected Asia: Inflation Target Tracker; B. An Uncertain Global Environment Poses Downside Risks 327 $a1.7 Emerging Asia: Equity and Bond Funds--Weekly Net Flows in 2011 Boxes; 1.1 Vietnam: Stabilization at the Crossroads; Tables; 1.1 Asia: Real GDP; 1.8 Selected Asia: Trade Links to Japan and Export Growth in 2011:Q2; 1.9 Selected Asia: Contributions to Projected Growth; C. Stress in the Euro Area and United States: Spillovers to Asia; 1.10 Selected Asia: Headline Consumer Price Inflation; 1.11 Selected Asia: Current Account Balances; 1.12 Asia: GDP Growth; 1.2 How Large Are Chinese Inflation Spillovers to the Region?; 1.13 Selected Asia: Foreign Holdings in Local Currency Government Bonds 327 $a1.14 Consolidated Claims of European and U.S. Banks on Selected Asia1.15 Selected Asia: U.S. Dollar--Local Currency Basis Swap Spreads; 1.16 Selected Asia: Impact of Severe Global Slowdown on Real GDP Growth; 1.17 Selected Asia: Impact of Severe Global Slowdown on Selected Indicators; 1.18 Selected Asia: Impact on Real GDP Growth of Discretionary Fiscal Spending in China; 1.3 Recent Trends in ASEAN Exports to China; D. How Vulnerable Are Asian Banks and Firms?; 1.19 Emerging Asia: External Bond Issuance by Corporations; 1.20 Emerging Asia: Leverage in Corporate Sector 327 $a1.21 Selected Asia: Debt-to-Equity Ratio E. Policy Challenges; 1.22 Asia: Debt-to-Equity Ratio during Recoveries from 2001 and 2008 Recessions; 1.23 Emerging Asia: Leverage in Different Sectors; 1.24 Selected Asia: Tier 1 Ratio of Top 25 Banks; 1.25 Emerging Asia: Overheating Map; 1.26 Selected Asia: Change in Inflation Expectations for 2011 since March 2011; 1.27 Selected Asia: Overheating Index and Vulnerabilities to a Slowdown in Growth in G-2; 1.4 Sterilization of Reserve Accumulation in Times of Large Capital Inflows 327 $a1.28 Selected Asia: Change in General Government Cyclically Adjusted Fiscal Balance 1.29 Selected Asia: Fiscal Space; 1.30 Selected Asia: Cyclically Adjusted Changes in General Government Spending; 1.31 Selected Asia: Deviation from Model-Based Norms of Public Spending on Health and Education; 1.32 Selected Asia: Deviation of Retail Gasoline and Diesel Prices from International Prices; 1.5 A Strategy for Growth and Fiscal Sustainability in Japan; 1.33 Selected Asia: Increase in Net Oil Subsidy; II. Drivers and Implications of Rapid Credit Growth in Emerging Asia 327 $aA. Episodes of Rapid Credit Growth in Emerging Asia 330 3 $aIn line with the weaker global outlook, growth in Asia is expected to be slightly lower in 2011-12 than forecast in April 2011, mainly as a result of weakening external demand, but the expansion should remain healthy, supported by domestic demand, which has been generally resilient. Overheating pressures remain elevated in a number of economies, with credit growth still robust and inflation momentum generally high, though inflation is expected to recede modestly after peaking in 2011. The sell-off in Asian financial markets in August and September 2011 underscores that an escalation of euro area financial turbulence and a renewed slowdown in the United States could have severe macroeconomic and financial spillovers to Asia. Against this backdrop, Asian low-income and Pacific Island economies face particular challenges in the near and medium term. In low-income countries, the fight against inflation is complicated by strong second-round effects, the need to phase out subsidies, and less well-anchored inflation expectations. Pacific Island economies need to undertake further structural reforms to lift potential growth. The downside risks to growth amid persistent overheating pressures present Asian policymakers with a delicate balancing act, as they need to guard against risks to growth but also limit the adverse impact of prolonged easy financial conditions on inflation and balance sheet vulnerabilities. At the same time, the weakness in global demand only confirms that Asia would greatly benefit from further progress in rebalancing growth by developing domestic sources of demand. In addition to structural reforms, this would require a reprioritization of fiscal spending, in order to create fiscal space for critical infrastructure investment and social priority expenditure. 410 0$aRegional Economic Outlook 517 3 $aAsia and Pacific 606 $aEconomic forecasting$zAsia 606 $aEconomic forecasting$zPacific Area 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aInflation$2imf 606 $aMacroeconomics$2imf 606 $aMoney and Monetary Policy$2imf 606 $aExports and Imports$2imf 606 $aPrice Level$2imf 606 $aDeflation$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aPersonal Income, Wealth, and Their Distributions$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aAggregate Factor Income Distribution$2imf 606 $aMonetary economics$2imf 606 $aFinance$2imf 606 $aBanking$2imf 606 $aEconomic growth$2imf 606 $aInternational economics$2imf 606 $aPersonal income$2imf 606 $aFinancial integration$2imf 606 $aCredit$2imf 606 $aIncome inequality$2imf 606 $aPrices$2imf 606 $aNational accounts$2imf 606 $aFinancial markets$2imf 606 $aMoney$2imf 606 $aIncome$2imf 606 $aInternational finance$2imf 606 $aIncome distribution$2imf 607 $aChina, People's Republic of$2imf 615 0$aEconomic forecasting 615 0$aEconomic forecasting 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aInflation 615 7$aMacroeconomics 615 7$aMoney and Monetary Policy 615 7$aExports and Imports 615 7$aPrice Level 615 7$aDeflation 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aPersonal Income, Wealth, and Their Distributions 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aAggregate Factor Income Distribution 615 7$aMonetary economics 615 7$aFinance 615 7$aBanking 615 7$aEconomic growth 615 7$aInternational economics 615 7$aPersonal income 615 7$aFinancial integration 615 7$aCredit 615 7$aIncome inequality 615 7$aPrices 615 7$aNational accounts 615 7$aFinancial markets 615 7$aMoney 615 7$aIncome 615 7$aInternational finance 615 7$aIncome distribution 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910974344703321 996 $aRegional Economic Outlook, October 2011, Asia and Pacific$94371573 997 $aUNINA