Responding to Financial Crisis: Lessons from Asia Then, the United States and Europe Now

William R. Cline, Peterson Institute
Joseph E. Gagnon, Peterson Institute
Simon Johnson, Peterson Institute
Donghyun Park, Asian Development Bank
Adam S. Posen, Peterson Institute
Changyong Rhee, Asian Development Bank
Edwin M. Truman, Peterson Institute

Peterson Institute for International Economics, Washington, DC

October 11, 2013

The Peterson Institute and the Asian Development Bank (ADB) released their joint study on responding to financial crises on October 11, 2013. This study contrasts Asia's successful efforts to respond to the recent crisis with its performance during its own crisis in the late 1990s, and the gap between the recommendations made to Asian policymakers by US and EU leaders then and what they have practiced during their own crisis since 2008. Coauthors William R. Cline, Joseph E. Gagnon, Simon Johnson, Adam S. Posen, Donghyun Park, Changyong Rhee, and Edwin M. Truman presented their views on macroeconomic response, international coordination, and political economy.

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