Recovery has at last begun in East Asia. However, it is now evident that recovery involves much more than a macroeconomic adjustment. 'East Asia - Recovery and Beyond' provides a synthesis of recent work, incorporating selected pieces of analytical work and a progress report on the key elements of concern to the Bank. The report concludes that East Asia's long-term prospects hinge on unleashing new productivity growth. Raising productivity depends on policies and institutions, including regulatory policies, business institutions, government institutions, and broader social institutions.