Front Matter

Front Matter

Author(s):
International Monetary Fund. Asia and Pacific Dept
Published Date:
April 2015
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    World Economic and Financial Surveys

    Regional Economic Outlook

    Asia and Pacific

    Stabilizing and Outperforming Other Regions

    APR 15

    ©2015 International Monetary Fund

    April 2015

    Cataloging-in-Publication Data

    Regional economic outlook. Asia and Pacific. – Washington, D.C. : International Monetary Fund, 2005-

    v. ; cm. – (World economic and financial surveys, 0258-7440)

    Once a year.

    Began in 2005.

    Some issues have also thematic titles.

    1. Economic forecasting – Asia – Periodicals. 2. Economic forecasting – Pacific Area – Periodicals. 3. Asia – Economic conditions – 1945– Periodicals. 4. Pacific Area – Economic conditions – Periodicals. 5. Economic development – Asia – Periodicals. 6. Economic development – Pacific Area – Periodicals. I. Title: Asia and Pacific. II. International Monetary Fund. III. Series: World economic and financial surveys.

    HC412.R445

    ISBN: 978-1-49833-984-1 (paper)

    ISBN: 978-1-47553-438-2 (web PDF)

    Publication orders may be placed online, by fax, or through the mail:

    International Monetary Fund, Publication Services

    P.O. Box 92780, Washington, D.C. 20090, U.S.A.

    Tel.: (202) 623-7430 Fax: (202) 623-7201

    E-mail: publications@imf.org

    www.imf.org

    www.elibrary.imf.org

    Contents

    Definitions

    In this Regional Economic Outlook: Asia and Pacific, the following groupings are employed:

    • “ASEAN” refers to Brunei Darussalam, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, unless otherwise specified.

    • “ASEAN-5” refers to Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

    • “Advanced Asia” refers to Australia, Hong Kong SAR, Japan, Korea, New Zealand, Singapore, and Taiwan Province of China.

    • “Emerging Asia” refers to China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

    • “Frontier and Developing Asia” refers to Bangladesh, Cambodia, Lao People’s Democratic Republic, Mongolia, Myanmar, Nepal, and Sri Lanka.

    • “Asia” refers to ASEAN, East Asia, Advanced Asia, South Asia, and other Asian economies.

    • “EU” refers to the European Union.

    • “G-7” refers to Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

    • “G-20” refers to Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, the Russian Federation, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States.

    The following abbreviations are used:

    ASEAN

    Association of Southeast Asian Nations

    BMA

    Bayesian model averaging

    BIS

    Bank for International Settlements

    CDIS

    Coordinated Direct Investment Survey

    CPI

    consumer price index

    CPIS

    Coordinated Portfolio Investment Survey

    DFD

    distance to final demand

    DSGE

    dynamic stochastic general equilibrium

    DVA

    domestic value added

    ECI

    economic complexity index

    FCI

    financial conditions index

    FDI

    foreign direct investment

    FSI

    Financial Soundness Indicators

    FX

    foreign exchange

    GDP

    gross domestic product

    GFCF

    gross fixed capital formation

    GMM

    generalized method of moments

    GVC

    global value chains

    IS

    Investment Saving

    LICs

    low-income countries

    NAFTA

    North American Free Trade Agreement

    OECD

    Organisation for Economic Co-operation and Development

    PICs

    Pacific Island countries

    QQE

    quantitative and qualitative easing

    R&D

    research and development

    RCF

    Rapid Credit Facility

    REER

    real effective exchange rate

    RFI

    rapid financing investment

    SOI

    Southern Oscillation Index

    TFP

    total factor productivity

    UNCTAD

    United Nations Conference on Trade and Development

    VAR

    vector autoregression

    VIX

    Chicago Board Options Exchange Market Volatility Index

    WEO

    World Economic Outlook

    WTO

    World Trade Organization

    The following conventions are used:

    • In tables, a blank cell indicates “not applicable,” ellipsis points (. . .) indicate “not available,” and 0 or 0.0 indicates “zero” or “negligible.” Minor discrepancies between sums of constituent figures and totals are due to rounding.

    • In figures and tables, shaded areas show IMF projections.

    • An en dash (–) between years or months (for example, 2007–08 or January–June) indicates the years or months covered, including the beginning and ending years or months; a slash or virgule (/) between years or months (for example, 2007/08) indicates a fiscal or financial year, as does the abbreviation FY (for example, FY2009).

    • An em dash (—) indicates the figure is zero or less than half the final digit shown.

    • “Billion” means a thousand million; “trillion” means a thousand billion.

    • “Basis points” refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to ¼ of 1 percentage point).

    As used in this report, the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.

    This Regional Economic Outlook: Asia and Pacific was prepared by a team coordinated by Rachel van Elkan of the IMF’s Asia and Pacific Department, under the overall direction of Chang Yong Rhee and Markus Rodlauer. Contributors include Nasha Ananchotikul, Elif Arbatli, Paul Cashin, Kevin Cheng, Mali Chivakul, Jaime Guajardo, Roberto Guimarães-Filho, Gee Hee Hong, Joong Shik Kang, Yuko Kinoshita, Vladimir Klyuev, Christiane Kneer, Waikei Raphael Lam, Xiaoguang Liu, Wojciech Stanislaw Maliszewski, Kum Hwa Oh, Shi Piao, Mehdi Raissi, Jack Ree, Sidra Rehman, Dulani Seneviratne, Alfred Schipke, Yiqun Wu, Longmei Zhang, Shiny Zhang, and Edda Zoli. Shi Piao and Dulani Seneviratne provided research assistance. Luisa Calixto and Socorro Santayana provided production assistance. Rosanne Heller, former IMF Asia and Pacific Department editor, and Joanne Creary Johnson of the IMF’s Communications Department edited the report. Joanne Creary Johnson coordinated its production and release, with the assistance of Katy Whipple. This report is based on data available as of April 2 and includes comments from other departments and some executive directors.

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