In this volume were prepared as background for a conference on the major macroeconomic issues facing the member countries of the Association of South East Asian Nations (ASEAN), held in Jakarta, Indonesia, on November 7-8, 1996. The conference aimed to review the macroeconomics record of the ASEAN countries, examine the factors that have contribute to the regionÂ’s economic success, and identify the policy agenda for sustaining this success into the twenty-first century. The background papers review the major policy issues and add to the empirical evidence in key areas such as saving, investment, and the current account; monetary policy, financial liberation, and capital market development; and the medium-term outlook. The wake of the globalization of international financial market, the ASEAN countries have faced major new challenges. The nature of this challenges and their impact on macroeconomic performance in the region were some of the issues considered. Thus, the macroeconomics policy mix in the ASEAN countries has come under increased scrutiny, and the search for a strategy, and the search for a strategy to reduce risks and sustain the regionÂ’s exemplary performance has intensified.