EditorsMasahiro Kawai is a project professor, Graduate School of Public Policy, University of Tokyo. Previously, he was dean and CEO of ADBI from 2007 through 2014 after serving as head of ADB’s Office of Regional Economic Integration. He was formerly a professor of economics at the University of Tokyo. He also served as deputy vice minister of finance for international affairs of Japan’s Ministry of Finance and chief economist for the World Bank’s East Asia and the Pacific region. He was a consultant at the Board of Governors of the Federal Reserve System and the International Monetary Fund and special research advisor at the Institute of Fiscal and Monetary Policy in Japan’s Ministry of Finance. He earned his PhD in economics from Stanford University.Jong-Wha Lee is a professor of Economics at Korea University, Seoul, Republic of Korea. Previously he was ADB’s Chief Economist and the chief spokesperson on economic forecasts and trends, oversaw the Economics and Research Department and was also head of ADB’s Office of Regional Economic Integration from 2007 to 2009. He has over 20 years of professional experience in economics and academia, and has published numerous books and journal articles in English and Korean, especially on topics relating to human capital, growth, financial crisis, and economic integration. He obtained his PhD and master’s degree in economics from Harvard University, and master’s and bachelor’s degrees in economics from Korea University.

• 1 Introduction and Overview (Masahiro Kawai and Jong-Wha Lee).- 2 Crisis Impacts (Yung Chul Park).- 3 Improving Macroeconomic Stability (Masahiro Kawai and Shinji Takagi).- 4 Rebalancing production (Willem Thorbecke, Biswa Nath Bhattacharyay, Hank Lim, Gloria Pasadilla, and Venkatachalam Anbumozhi).- 5 Enhancing Social Protection (Gloria O. Pasadilla and Bart W. Édes).- 6 Deepening the Financial System (David G. Mayes, Peter J. Morgan, and Hank Lim).- 7 Forging Regional Cooperation (Chalongphob Sussangkarn).- 8 Beyond the Crisis: Toward Balanced and Sustainable Growth (Masahiro Kawai and Jong-Wha Lee).

EditorsMasahiro Kawai is a project professor, Graduate School of Public Policy, University of Tokyo. Previously, he was dean and CEO of ADBI from 2007 through 2014 after serving as head of ADB’s Office of Regional Economic Integration. He was formerly a professor of economics at the University of Tokyo. He also served as deputy vice minister of finance for international affairs of Japan’s Ministry of Finance and chief economist for the World Bank’s East Asia and the Pacific region. He was a consultant at the Board of Governors of the Federal Reserve System and the International Monetary Fund and special research advisor at the Institute of Fiscal and Monetary Policy in Japan’s Ministry of Finance. He earned his PhD in economics from Stanford University.Jong-Wha Lee is a professor of Economics at Korea University, Seoul, Republic of Korea. Previously he was ADB’s Chief Economist and the chief spokesperson on economic forecasts and trends, oversaw the Economics and Research Department and was also head of ADB’s Office of Regional Economic Integration from 2007 to 2009. He has over 20 years of professional experience in economics and academia, and has published numerous books and journal articles in English and Korean, especially on topics relating to human capital, growth, financial crisis, and economic integration. He obtained his PhD and master’s degree in economics from Harvard University, and master’s and bachelor’s degrees in economics from Korea University.

• 1 Introduction and Overview (Masahiro Kawai and Jong-Wha Lee).- 2 Crisis Impacts (Yung Chul Park).- 3 Improving Macroeconomic Stability (Masahiro Kawai and Shinji Takagi).- 4 Rebalancing production (Willem Thorbecke, Biswa Nath Bhattacharyay, Hank Lim, Gloria Pasadilla, and Venkatachalam Anbumozhi).- 5 Enhancing Social Protection (Gloria O. Pasadilla and Bart W. Édes).- 6 Deepening the Financial System (David G. Mayes, Peter J. Morgan, and Hank Lim).- 7 Forging Regional Cooperation (Chalongphob Sussangkarn).- 8 Beyond the Crisis: Toward Balanced and Sustainable Growth (Masahiro Kawai and Jong-Wha Lee).

EditorsMasahiro Kawai is a project professor, Graduate School of Public Policy, University of Tokyo. Previously, he was dean and CEO of ADBI from 2007 through 2014 after serving as head of ADB’s Office of Regional Economic Integration. He was formerly a professor of economics at the University of Tokyo. He also served as deputy vice minister of finance for international affairs of Japan’s Ministry of Finance and chief economist for the World Bank’s East Asia and the Pacific region. He was a consultant at the Board of Governors of the Federal Reserve System and the International Monetary Fund and special research advisor at the Institute of Fiscal and Monetary Policy in Japan’s Ministry of Finance. He earned his PhD in economics from Stanford University.Jong-Wha Lee is a professor of Economics at Korea University, Seoul, Republic of Korea. Previously he was ADB’s Chief Economist and the chief spokesperson on economic forecasts and trends, oversaw the Economics and Research Department and was also head of ADB’s Office of Regional Economic Integration from 2007 to 2009. He has over 20 years of professional experience in economics and academia, and has published numerous books and journal articles in English and Korean, especially on topics relating to human capital, growth, financial crisis, and economic integration. He obtained his PhD and master’s degree in economics from Harvard University, and master’s and bachelor’s degrees in economics from Korea University.

• 1 Introduction and Overview (Masahiro Kawai and Jong-Wha Lee).- 2 Crisis Impacts (Yung Chul Park).- 3 Improving Macroeconomic Stability (Masahiro Kawai and Shinji Takagi).- 4 Rebalancing production (Willem Thorbecke, Biswa Nath Bhattacharyay, Hank Lim, Gloria Pasadilla, and Venkatachalam Anbumozhi).- 5 Enhancing Social Protection (Gloria O. Pasadilla and Bart W. Édes).- 6 Deepening the Financial System (David G. Mayes, Peter J. Morgan, and Hank Lim).- 7 Forging Regional Cooperation (Chalongphob Sussangkarn).- 8 Beyond the Crisis: Toward Balanced and Sustainable Growth (Masahiro Kawai and Jong-Wha Lee).