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"This book incorporates a selection of eight revised papers presented at the Conference on "Managing Economic Crisis in Southeast Asia", organized jointly by the Saw Centre for Financial Studies, NUS Business School and the Institute of Southeast Asian Studies, in January 2010. The chapters deal with the management of the 2008-09 economic crisis in Singapore, Malaysia, Thailand, Vietnam, the Philippines, Indonesia, and the region as a whole. They represent an analysis of the impact of the economic crisis and the stimulus packages that were swiftly put in place by the governments to mitigate the economic recession and to pave the way for a quick recovery. The success of the monetary and fiscal policy measures in engendering a strong economic recovery in these countries is also discussed in considerable depth. The book, with contributions from experts on the topics covered, will be extremely valuable to businessmen, analysts, academics, students, policy-makers and the general public interested in seeking a greater understanding of the sub-prime crisis that led to the global economic recession."

"ABSTRAKSkripsi ini membahas tentang korelasi antara twin deficits, yang terdiri dari defisit neraca berjalan dan defisit anggaran pemerintah, dan pertumbuhan ekonomi di 49 negara berkembang dan negara maju yang menggunakan analisis cross-sectional untuk periode sebelum dan sesudah krisis finansial Asia dan sebelum dan sesudah krisis finansial global. Terdapat perubahan dalam hasil analisis pada periode sebelum dan sesudah krisis finansial Asia. Defisit anggaran pemerintah memiliki korelasi negatif terhadap pertumbuhan ekonomi, sementara defisit neraca berjalan tidak memiliki korelasi yang signifikan terhadap pertumbuhan ekonomi. Pada periode krisis finansial global, defisit neraca berjalan memiliki korelasi positif dengan pertumbuhan ekonomi, dan tidak terdapat korelasi antara defisit anggaran pemerintah dengan pertumbuhan ekonomi.

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ABSTRACT This paper investigates the correlation between the twin deficits, namely current account and government budget deficits, and economic growth in 49 developing and developed countries using cross sectional analysis for the period before and after Asian financial crisis and before and after global financial crisis. There is a change in the results on before and after the Asian financial crisis. Government budget deficit is associated negatively with economic growth, while current account deficit does not significantly correlate with economic growth. For the global financial crisis period, the current account deficit correlates positively with economic growth, while government budget deficit does not correlate with economic growth."