Asia's Developing Future: Recent Episodes
Asian Development Bank Institute
The world’s number one government-affiliated think tank. ADBI is the think tank of the Asian Development Bank (ADB).
Health systems across Asia and the Pacific are under pressure. Populations are aging, and there are increasing risks from climate change and future pandemics. Governments are facing tighter budgets. In these conditions, can universal health coverage still be attainable? Osamu Kunii, CEO and Executive Director of the Global Health Innovation Technology Fund, and Eduardo Banzon, Director of the Asian Development Bank’s Health Sector Team discuss the key issues facing health financing.Script: https://adbi.me/3TNnyN7
At the Global Solutions Summit in Berlin, ADBI Dean Bambang Brodjonegoro speaks with Global Solutions Initiative President Christian Kastrop about the future of multilateralism, the growing influence of middle powers, and opportunities for cooperation on sustainable growth, and global governance in an increasingly fragmented world.Script: https://adbi.me/4fSLiZf
Jodie Kuntzsch, foundational CEO of Moananui, and managing director of Aleotion, and Michael Huang, senior research fellow at the Ocean Policy Research Institute of the Sasakawa Peace Foundation, discuss the opportunities for the blue economy in Asia and the Pacific.Script: https://adbi.me/4nUSgiq
From Japan’s aging lessons to unlocking the demographic dividend in South Asia, Rohini Somanathan, Professor and Head of the Economics Department at the Delhi School of Economics and Sagiri Kitao, Senior Research Economist at ADBI, discuss what the demographic trends shaping Asia means for growth, jobs, and policy choices. Script: https://adbi.me/4sJcqfX
Industrial policy plays a central role in shaping how economies grow—but the sectors governments support, the firms they finance, and the skills they prioritize can either reinforce existing inequalities or help close them. So what would it take to design industrial policy that actively advances gender equality? Valeria Esquivel of the International Labour Organization and Jennifer Castañeda-Navarrete of the University of Cambridge discuss how gender-responsive industrial policy can be designed and implemented—and why it matters for inclusive and sustainable growth.Script: https://adbi.me/4rI8kEC
Asia’s economic rise has been built on trade, but with the global trading system undergoing structural transformation could digital trade define Asia and the Pacific’s next phase of growth and integration? ADBI Fellow Sayuri Shirai explores its potential impact. Script: https://adbi.me/4tZQaR8
What does it take for developing economies in Asia and the Pacific to grow, move beyond middle-income status and cope with today’s global challenges? In this episode, ADBI Dean Bambang Brodjonegoro and World Bank Group Chief Economist and Senior Vice President for Development Economics Indermit Gill discuss how smart policies, stronger institutions, and regional integration can all support resilient growth, and harness emerging technologies like AI.Script: https://adbi.me/4ajWBX4
What does it take to develop effective policymakers in today’s turbulent geopolitical climate? Professor Francis Fukuyama joined ADBI Dean Bambang Brodjonegoro to discuss the future of governance, why building policy expertise matters more than ever, and the challenges and opportunities for capacity development across Asia and the Pacific. Script: adbi.me/4rDSH2f
Court battles can drag on for years, but what if major cross-border disputes could be solved in just days? Nadja Alexander, Director of the Singapore International Dispute Resolution Academy, and Rajesh Sharma, Director of RMIT Dispute Management Centre, explain how mediation and arbitration are helping Asia’s economies cut case backlogs, boost investor confidence, and build trust. Script: https://adbi.me/3L6O289
How is AI reshaping the future of work across Asia and the Pacific? In this episode, journalist Michael Beltran and Professor Mohammad Jarrahi cut through the hype to explore automation, tacit knowledge, and co-learning between humans and machines. Discover what AI means for BPO workers, education, and the policies needed to protect vulnerable communities.Script: https://adbi.me/46202Qo
Dr. K.E. Seetharam, Senior Consulting Specialist at the Asian Development Bank Institute, and Dr. Sakshi Pandey of the Capacity Building Commission, Government of India, explore Asia’s triple burden of malnutrition: urban obesity, rural undernutrition, and widespread micronutrient deficiencies. Drawing on case studies and insights from their recent book, they examine how urbanization, evolving food systems, and socio-economic disparities are reshaping public health across the region. Script: https://adbi.me/4m4p078
With global fragmentation on the rise, ADBI Dean Bambang Brodjonegoro and ADB Vice-President for East and Southeast Asia, and the Pacific, Scott Morris explore how Asia and the Pacific can boost resilience and forge a bright future through cross-border integration. Read the transcript: https://adbi.me/3GN3zIh
As scams and cybercrime soar in the digital age, financial crime has become a moving target. Shawn Hunter, research fellow at Griffith Asia Institute, and Louis de Koker, a professor of law at La Trobe University, explain how new technologies, outdated frameworks, and regulatory gaps affect everything from financial inclusion to cross-border cooperation in Asia and the Pacific.Script: https://adbi.me/3T5D5V1
In this episode of Asia’s Developing Future, Daniel Suryadarma and Takiko Igarashi from ADB Institute explore how Asia can tackle its growing education crisis where 70% of 10-year-olds in developing countries struggle with basic reading.Script: https://adbi.me/3STBD7Y
Governments are some of the biggest buyers of construction services, putting them in a powerful position to shape a more sustainable future. In this episode, Andrew Minson, Concrete and Sustainable Construction Director at the Global Cement and Concrete Association, and Jenny Yan Yee Chu, Procurement Specialist at the Asian Development Bank explore how sustainable public procurement can change industry, spark sustainable growth, and build a low-carbon future for Asia and the Pacific. Script: https://adbi.me/3Ya2UGq
Globally, smallholder farmers account for over 80% of farms and are estimated to produce around one-third of the world's food, but with climate change, economic shocks and environmental degradation to contend with what does the future hold for the people who feed billions around the world? ADBI senior research fellow Dil Rahut and Imtiaz Farhan Bin Habib, CEO and co-founder of Agronochain, explore the innovations and policies that can secure the future of smallholder farmers.Script: https://adbi.me/3XXUKk6
If you don’t know what InsurTech is, you should. Listen to global insurance expert Susan Holliday explain how this dynamic area of FinTech is shaking up the industry, and how it can support sustainable development and address Asia and the Pacific’s protection gaps.
How can smart ports drive sustainability and development? ADB’s Yesim Elhan-Kayalar and maritime expert Eleanor Hadland explore how AI and other digital innovations are transforming ports, reducing emissions and can help countries in Asia and the Pacific achieve their sustainability goals.
Estimates suggest that only 15% of Asian assets have appropriate coverage for disaster risks. How can these “protection gaps” be filled? Yoshihiro Kawai, Chair of Global Asia Insurance Partnership and Tetsushi Sonobe, Dean of ADBI discuss the issue and how a new joint project aims to increase risk resilience.
The first World Conference on Creative Economy, held in Indonesia in 2018, paved the way by emphasizing the critical role of creativity in driving economic growth and fostering global collaboration. Join ADBI's James Correia and Sheena Leong explore the transformative power of the creative economy and its potential to shape a sustainable and inclusive future.
Climate change is likely to have catastrophic repercussions on human health, with health costs amounting to between $2 billion - to $4 billion a year. Estimates also suggest that the economic burden of climate change could rise to a staggering $54 trillion with just a 1.5°C rise. Join Nitya Mohan-Khemka, director of strategic initiatives with PATH as she unpacks the urgent actions and potential solutions needed to climate-proof health care systems.
Cutting-edge technology alone can’t solve the existing and emerging issues of water resources management. That’s why in this episode of Asia’s Developing Future we delve into the key role culture has in tackling water scarcity, promoting conservation and ensuring successful, sustainable water resources projects. Featuring insights from Yoonjin Kim, Director of Strategy and Development of the World Water Council, and Victor Shinde, Head of the Climate Center for Cities at the National Center of Urban Affairs in New Delhi, don’t miss this essential discussion on incorporating tradition with innovation.
Join independent science journalist Disha Shetty, recent winner of ADBI’s Developing Asia Journalism Awards, and Suling Lin, senior columnist from The Straits Times, as they discuss the challenges facing journalists reporting on development issues in an ever-changing news environment, and how collaboration with research organizations can amplify their impact.
Hybrid working is a win-win for employers and employees, says Professor Nicholas Bloom, but why hasn’t it taken off in many parts Asia and the Pacific? The economist from Stanford University shares his thoughts and latest research in a discussion with ADBI.
From machine learning to Blockchain, clean tech organizations are exploring innovative ways to support the adoption of renewable energy sources while also addressing energy poverty. In this episode, Onon Bayasgalar, Chief Sustainability Officer for URECA talks about their project in Ulaanbaatar, Mongolia, that is empowering women-led households by switching from coal to solar power and giving them access to the carbon credit market to finance their energy transition.
Women entrepreneurs make a significant contribution to the Indian economy. However, access to formal finance is a crucial barrier to the growth of women-owned businesses. In this podcast, Renana Jhabvala, the President of SEWA, the Self-Employed Women’s Association, will explain the policy tool that the Indian government has been implementing to formalize women’s economic participation and her experience with SEWA in utilizing bridge institutions to connect women entrepreneurs and formal banking sector.Transcript: adbi.me/3vHsHdB
Almost two million households across Central Asia suffer from energy poverty according to the World Bank. The challenges are to maintain and provide infrastructure in rural parts of the region and explore new energy models for social inclusion and just transition.In this podcast, ADBI Senior Research Fellow Dina Azhgaliyeva, Zhanna Kapsalyamova from Nazarbayev University, and Anna Arkhangelskaya from the Institute of Energy under the Kyrgyz Technical University explain socio-economic disparity that energy-poor households face and discuss policy options to replace inefficient fossil fuel subsidies while minimizing the impact of energy prices on vulnerable households.Script: adbi.me/46zOLU9
By 2050, the global number of persons above 65 years old will double to over 1.5 billion, according to the United Nations, and Asia will continue to have the largest share of the world’s aged population.In this podcast, Waseda University Associate Professor, Upalat Korwatanasakul provides an overview of demographic transition and its effects on fiscal balance in Asia. He also examines ways to enhance fiscal space against pension as well as how fiscal sustainability can be achieved in economies at varying demographic stages.Script: adbi.me/3FTV1LJ
In this episode of Asia’s Developing Future, Keio University professor Sayuri Shirai, a former Bank of Japan Policy Board member and ADBI visiting fellow, explains the role of central banks in promoting green central banking and climate-related monetary policies in developing Asia.She stresses the importance of improving awareness of financial institutions, conducting climate scenario analysis, and implementing standardized climate-related disclosures to draw more direct investment to emerging economies in Asia.Script: adbi.me/3RlxOJa
In this podcast, the Asian Development Bank Institute’s Santi Setiawati spotlights Japan’s innovative sanitation and wastewater management systems and the implementation lessons they offer developing countries in Asia seeking to address coverage gaps within the sector.
The discussion is based on the ADBI policy brief The Financial and Institutional Mechanism of the Sanitation and Wastewater Management System: Learning from the Japanese Experience.
Transcript: adbi.me/45dhYVm
Economic policy prescriptions for crisis-hit developing countries known as the “Washington Consensus” have boosted prosperity in Asia and beyond but also have been criticized for negatively affecting manufacturing jobs and the labor force in developed countries.
In this podcast, Jenny Gordon, Honorary Professor at the Centre for Social Research and Methods at the Australian National University, explains the principles and limitations of the Washington Consensus and how countries can approach them effectively moving forward.
Transcript: adbi.me/3Ow6AxQ
Many governments and non-governmental entities are making ambitious pledges to reduce carbon emissions and move toward a global net-zero level by 2050 to fight climate change. Whether these goals can be achieved will depend on implementation work that verifies pledges are legitimate and not simply empty promises known as ‘greenwashing’. In this podcast, Catherine McKenna, Canada’s former Minister of Environment and Climate Change and Chair of the High-level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities, explains what policy makers can do to prevent greenwashing and accelerate carbon emissions reduction in Asia and the Pacific.Transcript: adbi.me/43oEOrZ
The “metaverse” is an emerging concept that could open the door to new service delivery and job creation. But what is the metaverse exactly and how could it affect developing economies in Asia and the Pacific?In this podcast, Beth Ann Lim, director of policy programs and campaigns at Meta Asia Pacific, and Professor Yong Lim at the Seoul National University AI Policy Initiative discuss the metaverse, its economic implications, and policy options to maximize its potential to support inclusive growth in the region.Transcript: adbi.me/3nQIGSz
The realization of carbon net-zero economies in Asia and beyond will depend on the capacity of sectors to adopt decarbonization solutions.In this podcast, Professor Frank Jotzo, Professor Llewelyn Hughes, and Dr Tom Longden from the Australian National University Crawford School of Public Policy discuss hydrogen’s potential to support the global transition to clean energy and the decarbonization of heavy industry sectors such as steel production. They also highlight policies and financing mechanisms that could help.Transcript: adbi.me/3ltgmFk
Fast-growing developing and emerging countries in Asia and beyond are facing the dual challenges of meeting increasing energy demand while tackling carbon emissions to fight climate change.In this podcast, Asian Infrastructure Investment Bank(AIIB) Chief Economist Erik Berglof describes policy tools a state can use to accelerate private sector-backed carbon net zero transition, such as state-owned financial institutions and private-public partnerships. He also explains how these tools can be integrated into national strategies to promote innovation and technology adoption.The discussion draws upon his ADBI Featured Speaker Webinar on state capacity and private sector mobilization toward net zero in emerging economies. Transcript: adbi.me/3RVe65e
COVID-19-induced school closures have significantly disrupted learning and contributed to learning losses that could have lasting socioeconomic impacts.In this podcast, Harvard University education professor Fernando Reimers examines the pandemic’s effects on education, disparities faced by developing countries, and lessons for mitigating future education disruptions. The discussion draws upon his ADBI Featured Speaker Webinar on building resilient education systems after the COVID-19 pandemic.Transcript: adbi.me/3kFlEwG
Supply chain disruptions linked to Russia’s invasion of Ukraine and its economic impacts continue to undermine energy and food security. They are also prompting economies and businesses to rethink how they obtain critical raw materials and component parts.In this podcast, Alexander Plekhanov of the European Bank for Reconstruction and Development (EBRD) discusses new research on the impacts of Russia’s invasion of Ukraine on economies and global supply chains, highlighting mechanisms and policy options to restore economic activity and ingrain resilience. He also describes international trade effects for economies in Central Asia and the Caucasus and the factors behind them. The discussion draws upon his ADBI Featured Speaker Webinar on EBRD’s 2022-23 Transition Report on the policy implications of “business unusual” conditions in the global economy.Transcript: adbi.me/3CrHmds
Under the concept of “inclusive sanitation,” access to a safe and clean toilet is considered a right, not a privilege. Yet the world still has work to do to deliver sanitation for all by 2030, as targeted by the United Nations Sustainable Development Goals, and recent efforts to consider gender minorities in the sector are an emerging imperative. In this podcast, Asian Development Bank (ADB) Urban Development Specialist Alexandra Conroy, ADB Gender Equality and Social Inclusion Specialist Shuvechha Khadka, and WaterAid’s Head of Policy and Advocacy Seema Rajouria discuss how gender identity affects sanitation users’ experiences in developing Asia and the Pacific, drawing upon case studies from Nepal. They also describe actions to make sanitation more inclusive for transgender people. Transcript: adbi.me/3v87aqO
Asia and the Pacific account for over 50% of the world’s total greenhouse gas emissions. Recognizing the urgent need for action to limit global warming to 1.5°C and fight climate change, governments in the region are increasingly committing to the ambitious target of net-zero carbon emissions by around mid-century.
In this podcast, Asian Development Bank (ADB) Climate Envoy Warren Evans explains the benefits of climate change mitigation efforts to developing countries in Asia and the Pacific and discusses some solutions for achieving their carbon reduction commitments, and provides a blueprint for long-term emissions cuts critical to climate change mitigation and resilience.
Read the transcript: adbi.me/3ALDqn8
The COVID-19 crisis, the Russian invasion of Ukraine, energy security challenges, supply shortages, and soaring inflation continue to disrupt global trade and put economies worldwide under increasing pressure.
In this podcast, Asia-Pacific Economic Cooperation (APEC) Secretariat Executive Director Rebecca Sta Maria explains APEC member economies’ efforts to rebuild supply chains and promote more inclusive and resilient trade growth in the face of high uncertainty.
Read the transcript: adbi.me/3tlMD1h
In this podcast, Nobel laureate Michael Kremer, an economics professor at the University of Chicago, discusses digitalization experiences and lessons learned within the agricultural sector and prospects for digital rural and agricultural development.
Transcript: adbi.me/3UzcXS5
Indonesia is the world’s fourth-largest producer of coal, Southeast Asia’s biggest gas supplier, and the largest biofuel producer globally, according to the International Energy Agency. Yet oil imports in Indonesia are increasing as incomes and consumption rise among the 250 million people of the archipelago, which holds the Group of 20 (G20) presidency in 2022 and will chair the Association of Southeast Asian Nations (ASEAN) in 2023.
In this podcast, ADBI’s Dina Azhgaliyeva, ASEAN Centre for Energy Executive Director Nuki Agya Utama, and Kuki Soejachmoen, co-chair of the climate and energy transition task force of the G20’s think tank engagement group, Think20 (T20), talk about energy transition in Asia and how Indonesia’s leadership in the G20 and ASEAN could shape energy transition cooperation.
The discussion draws upon a T20-associated roundtable on energy transition financing that was held as part of the 43rd International Association of Energy Economics International Conference.
Transcript: https://adbi.me/3cQp6RC
Asia and the Pacific is the world’s primary region for investment in low-carbon transition technologies. Despite recent growth trends, however, investment in clean energy still falls short of the level needed to meet global carbon emission reduction targets and fight climate change.
In this podcast, ADBI’s Dina Azhgaliyeva and John Beirne, and Ranjeeta Mishra from the Reserve Bank of India explain the effect of government renewable energy policies on private investment, drawing upon developments in Asia and the Pacific. They also discuss possible next steps for stimulating private investment in renewable energy.
The discussion draws upon their Climate Policy Journal article, "What Matters for Private Investment in Renewable Energy?"
Transcript: https://adbi.me/3zWgujJ
Indonesia’s Group of 20 (G20) presidency in 2022 marks the start of three successive years in which the annual forum of the world’s largest economies will be hosted by developing countries, to be followed by India in 2023 and Brazil in 2024.
In this podcast, Pramod Bhasin, Chair of the Indian Council for Research on International Economic Relations (ICRIER), discusses India’s G20 presidency countdown and policy imperatives. He also describes the outlook for Indonesia, India, and Brazil’s G20 presidencies and their potential significance for the global economy.
Read the transcript: https://adbi.me/3d3Kp1O
The Think7, or T7, is the think tank engagement group of the Group of 7 (G7) launched under Germany’s 2022 G7 presidency.
In this podcast, ADBI Dean Tetsushi Sonobe, Co-Chair of the T7 Task Force on Sustainable Economic Recovery, and ADBI’s John Beirne and Dina Azhgaliyeva discuss the role and future of the T7. This includes its capacity to support partnership between the G7 and emerging economies in Asia and the Pacific, and globally, and the implications for sustainable development.
Read the transcript: https://adbi.me/3nsdqGd
Benjamin Diokno started his appointment as Governor of Banko Sentral ng Pilipinas, or BSP, in March 2019. He has spent much of his term as head of the Philippine central bank guiding the country’s economy through the COVID-19 crisis.
In this podcast, Governor Diokno discusses the Philippines’ post-pandemic recovery, which he says is well underway and proceeding faster than expected. Designated as the next Finance Secretary of the Philippines, he also describes next steps to sustain the economy’s momentum in the face of new challenges.
The discussion draws upon his ADBI Featured Speaker Webinar on the Macroeconomy, Fintech, and Sustainable Recovery amid New Uncertainties.
Read the transcript: https://adbi.me/3mZNCkm
In this podcast, Vegard Skirbekk of the Norwegian Institute of Public Health and Columbia University describes a new measure of aging burden that takes into account age-related health – the health adjusted dependency ratio. Skirbekk explains how this indicator overturns common assumptions about the population aging burden and its impacts across countries reflected in the traditional old-age dependency ratio. He also describes the policy significance, especially in countries with young but rapidly aging populations, including those in developing Asia.
Read the transcript: https://adbi.me/3LuupRF
In this episode of Asia’s Developing Future, Keio University professor Sayuri Shirai, a former Bank of Japan Policy Board member and ADBI visiting fellow from 2016 to 2020, explains the role of developing Asia’s central banks in reviving economic growth while dealing with volatile capital outflows.
She provides historical perspective and addresses shifts stemming from increasing interest rates and climate change risk. She also explains ways to blend risk to attract more private investment for sustainable energy and infrastructure development in the region.
Read the transcript: https://adbi.me/36PMHPh
In 2022, the Asian Development Bank Institute (ADBI) is observing the 25th anniversary of its founding as the Asian Development Bank’s (ADB) Tokyo-based think tank under the theme Toward Sustainable and Inclusive Economic Development in Asia and the Pacific.
In this episode of Asia’s Developing Future, Keio University professor Naoyuki Yoshino, ADBI Dean from 2014-2020 and a longtime finance official for the Government of Japan, discusses ways to effectively translate innovative policy research into government action. He draws upon his experience as chair of the Group of 20’s think tank engagement group, the Think20 (T20), during Japan’s 2019 G20 presidency. He goes on to explain how policy researchers can leverage their work to boost economic recovery in Asia and the Pacific.
Read the transcript: https://adbi.me/3vruXSl
Research has shown that when more women work, economies grow. Women’s economic empowerment also boosts productivity, income equality, and development outcomes. Yet, the COVID-19 pandemic has cast a cloud over the economic outlook for women.
In this podcast, ADBI Capacity Building and Training Economist Pitchaya Sirivunnabood describes the impacts of COVID-19 on women in the economy and policy next steps in Asia, including the importance of addressing gender gaps in digital literacy, social investment, and regulation.
The discussion draws upon her recommendations presented to policy makers from the region during a recent Healthy Women, Healthy Economies conference organized by Asia-Pacific Economic Cooperation or APEC.
Read the transcript https://adbi.me/3wRP26K
In 2022, the Asian Development Bank Institute is observing the 25th anniversary of its founding as the Asian Development Bank’s Tokyo-based think tank under the theme Toward Sustainable and Inclusive Economic Development in Asia and the Pacific.
In this episode of Asia’s Developing Future, the Australian National University’s Peter McCawley, ADBI Dean from 2003-2007, discusses developing Asia and the Pacific’s policy imperatives in the face of transformational change and new risks and how these factors drove ADBI’s creation. He also explains the importance of ensuring regional peace and stability for effective physical and human development and how think tanks can address this urgent need.
Read the transcript: https://adbi.me/3JCrcja
The Central Asia Regional Economic Cooperation member countries, also known as the CAREC region, extends from Azerbaijan to the People’s Republic of China, and includes some of the world’s most important producers of energy and natural resources, and emerging trade routes. So how seriously has the COVID-19 pandemic affected the region’s economies and what does the future hold in store?
In this podcast, ADBI’s Dina Azhgaliyeva and Kamalbek Karymshakov of the Kyrgyz-Turkish Manas University describe the heavy impact of COVID-19 on household incomes across Central and West Asia and factors disrupting the ability of businesses in the region to adapt successfully to the COVID-19 outbreak. They also share their research insights on recovery policy options and the road ahead in CAREC countries.
The discussion draws upon a joint ADBI – CAREC Institute forthcoming edited book, COVID-19 and Economic Recovery Potential in the CAREC Region.
Read the transcript adbi.me/3hBb053
Public procurement is commonly used by governments in developed countries to promote innovation and socioeconomic policy objectives. However, the strategic use of public procurement as a public policy instrument for innovation is still uncommon in Asia.
In this podcast, ADBI’s senior CBT economist Yongwook Lee and research associate Lingfeng Zheng discuss the dynamics between public procurement and innovation and how the region can leverage public procurement to promote innovation and sustainable recovery.
The discussion is based on a related ADBI capacity building and training workshop, co-hosted by the Public Procurement Service of the Republic of Korea and the Organisation for Economic Co-operation and Development (OECD).
Read the transcript: https://adbi.me/3AD40gR Register for the event: https://adbi.me/3Ab0Ocb
Digital transformation is raising the productive capacities of economies in Asia by enhancing trade, financial inclusion, and firm competitiveness, but could it provide an even greater competitive advantage?
According to ADBI Research Fellow John Beirne, the answer is yes! In this podcast, Beirne explains how improvements in infrastructure, digital literacy, and regulation can maximize digitalization’s benefits for the region’s economies.
The discussion draws upon his new co-edited book Harnessing Digitalization for Sustainable Economic Development: Insights for Asia.
Read the transcript https://adbi.me/3tnwI3P
Download the book https://adbi.me/3FsPYiP
Economies across Asia and globally are facing the risk of spiraling debt and inflation triggered by emergency responses to the COVID-19 crisis.
In this podcast, Indonesia Finance Minister Sri Mulyani Indrawati discusses how these challenges could impact economic recovery and strategies for addressing them, including the role of international cooperation.
The discussion draws upon her ADBI Featured Speaker Webinar on Indonesia’s G20 2022 host vision and priorities.
Read the transcript https://adbi.me/30yiXmH
Related Page ADBI Featured Speaker Webinar: Indonesia Finance Minister Sri Mulyani Indrawati on G20 2022 Host Vision and Priorities https://adbi.me/3H1rY87
The COP26 climate change conference in Glasgow sought to rally global efforts to reduce carbon emissions needed to fight climate change and has prompted countries to commit to more ambitious climate actions. However, implementation challenges remain, particularly in fast-growing, highly-climate vulnerable developing countries in Asia and the Pacific.
In this podcast, ADBI’s Dina Azhgaliyeva and Frank Wolak of Stanford University explain how developing Asia and the Pacific can achieve measurable progress toward carbon neutrality after COP26 by advancing the region’s clean energy transition while relying less on public subsidies.
The discussion helps to set the tone for the 2021 ADBI Annual Conference on 1-3 December, which will feature insights from leading researchers on the next steps for climate change mitigation and green finance policy in developing Asia and the Pacific.
Read the transcript https://adbi.me/3riT3ys
Register for the 2021 ADBI Annual Conference https://adbi.me/31eIwcI
The COVID-19 pandemic has profoundly impacted the world’s cities. It has also prompted rethinking about the role of cities and the future of urbanization.
In this podcast, urban development expert Tsuyoshi Hashimoto discusses the post-pandemic outlook for Asia’s cities and the implications for sustainable and inclusive growth in the region.
His remarks are based on research presented during a recent ADBI virtual policy dialogue on rethinking the role of cities and urban function.
Read the transcript https://adbi.me/3c2ROue
Spanning from the People’s Republic of China through Central Asian countries along the Caspian Sea to Europe, the Trans-Caspian Corridor is an increasingly important channel for transportation and cross-border trade.
In this podcast, ADBI’s Dina Azhgaliyeva, Yelena Kalyuzhnova of the University of Reading, and Richard Pomfret of the University of Adelaide describe how improved infrastructure development within the corridor could drive post-COVID-19 trade and inclusive economic opportunities. They also explain how this could be achieved.
The discussion draws upon the new ADBI Press book Unlocking Transport Connectivity in the Trans-Caspian Corridor which they coauthored.
Read the transcript https://adbi.me/3nzF6bF
Download the book for free https://adbi.me/3aUPaX9
How has the COVID-19 crisis impacted the Asian economy and what can the region’s policy makers do to advance economic recovery?
In this podcast, ADBI Research Fellow John Beirne addresses these fundamental questions, describing new research that underscores the importance of building longer-term resilience and sustainability in Asia and possible ways forward.
The discussion draws upon his new coedited book COVID-19 Impacts and Policy Options: An Asian Perspective, the inaugural entry in the ADBI Series on Asian and Pacific Sustainable Development, Beirne coedited the book with Tetsushi Sonobe, ADBI Dean, and Peter J. Morgan, ADBI Vice-Chair of Research.
Read the transcript https://adbi.me/3jdXcyC
Related link COVID-19 Impacts and Policy Options: An Asian Perspective https://adbi.me/3ACY6L1
Like other emerging markets in Asia, Central Asia faces a significant need for infrastructure development to support onward growth but a comparable shortfall in project financing and implementation capacity.
In this podcast, ADBI’s Dina Azhgaliyeva and Ranjeeta Mishra, and the Central Asia Regional Economic Cooperation (CAREC) Institute’s Kamalbek Karymshakov explain the importance of bridging these infrastructure gaps for firm performance and trade in Central Asia. They also describe how policy lessons and solutions here can be applied to other parts of developing Asia.
The discussion draws upon the ADBI working paper entitled, Infrastructure and Firm Performance in CAREC Countries: Cross-Sectional Evidence at the Firm Level.
Read the transcript https://adbi.me/3EVEcOH
Harmonizing intellectual property regimes could boost innovation in Asia, but how feasible is it? What steps could Asia take to enhance intellectual property protection and what impact could it have on the future of innovation development in the region?
In this podcast, the United States Patent and Trademark Office’s Peter Fowler explains the link between intellectual property rights and growth, the status of intellectual property protection and enforcement in Asia, and the path to harmonization that boost trade and competition in a globalized, digitally-driven marketplace.
Read the transcript https://adbi.me/3loEqoK
Related link ADBI Featured Speaker Webinar: United States Patent and Trademark Office’s Peter Fowler on IP Protection and Enforcement for Trade, Competition, and Innovation in Asia and the Pacific adbi.me/3j1pmwa
COVID-19 recovery in developing Asia could follow a traditional growth path that relies on carbon- and resource-intensive production. By contrast, the transition to a circular economy could deliver greener and more enduring post-pandemic growth in the region.
In this podcast, ADBI’s Linda Arthur and Derek Hondo, describe the prospects for achieving such a breakthrough and associated principles and policy priorities.
Read the transcript https://adbi.me/3kIbiZj
Related link Virtual Conference on Circular Economy in Emerging Markets: Unlocking the Potential for Green Recovery in Developing Asia https://adbi.me/2WCCGPK
The burden of water collection and distribution often disproportionately falls on the shoulders of women in Asia’s developing economies, where gaps in water infrastructure and hygiene persist and are particularly acute at a household level.
In this podcast, Ashish Sedai of Colorado State University describes clean water access challenges in the region, how the adoption of piped water in households in India is helping to increase women's labor force participation, and the impact gender-balanced household income can have on water service quality and sustainable development.
Read the transcript https://adbi.me/2XqEvQo
Related link Who Benefits from Piped Water in the House? Empirical Evidence from a Gendered Analysis in India https://adbi.me/3wy1sgu
Developing Asia will require around $30 trillion in infrastructure investment through 2030, according to the Asian Development Bank. But how has COVID-19 affected the infrastructure landscape and what role can the sector play in pandemic recovery across the region?
In this podcast, New Zealand Infrastructure Commission Board Chair Alan Bollard describes post-pandemic infrastructure development conditions and impacts in Asia and the Pacific. He also addresses onward project financing, climate change, and sustainability considerations.
The discussion draws on an ADBI Featured Speaker Webinar with Dr Bollard, who served as Reserve Bank of New Zealand Governor during the Global Financial Crisis and its aftermath as well as Executive Director of the Asia-Pacific Economic Cooperation Secretariat in Singapore from 2013 to 2018.
Read the transcript https://adbi.me/2VfIu1a
Related link ADBI Featured Speaker Webinar: New Zealand Infrastructure Commission Board Chair Alan Bollard on the Role of Infrastructure in COVID-19 Recovery https://adbi.me/3qBoO3o
With COVID-19 lockdowns, quarantine requirements, and work from home arrangements still prevalent, how will the pandemic impact the future of public transport and what lessons can policy makers in Asia learn from global experiences within the sector?
In this podcast, we take a look at what’s happening outside the region with Greg Marsden of the University of Leeds Institute of Transport Studies, who describes travel developments in the United Kingdom. He details COVID-19 era working pattern shifts, commuter behavior, and the implications for the economics of public transport and public policy, including key takeaways for Asia’s cities.
Read the transcript https://bit.ly/3rccB5v
Related link ADBI Featured Speaker Webinar: Greg Marsden on COVID-19 Era Travel Behavior and its Policy Implications in the United Kingdom https://bit.ly/3hK7CWu
Central Asia remains highly dependent on polluting solid fuels despite significantly increasing access to cleaner alternatives in the region.
In this podcast, ADBI’s Dina Azhgaliyeva and Ranjeeta Mishra, and CAREC Institute’s Kamalbek Karymshakov explain the implications of this gap, and what policy makers can do about it moving forward.
The discussion draws upon their recent article in the Journal of Environmental Management entitled, “Why energy access is not enough for choosing clean cooking fuels” and ADBI working paper entitled, “What determines coal consumption for heating residential space in Central Asia.”
Read the transcript https://bit.ly/2TxU9aE
Related link Why Is Energy Access Not Enough for Choosing Clean Cooking Fuels? Sustainable Development Goals and Beyond https://bit.ly/3gtArpF
What determines coal consumption for heating residential space in Central Asia https://bit.ly/2UbPXha
Economic and social disruptions accelerated by the COVID-19 pandemic have sharply affected labor migration in Asia.
In this podcast, ADBI Capacity Building and Training Economist Pitchaya Sirivunnabood describes the pandemic’s implications for labor mobility as well as the role of digitalization in boosting labor migration management moving forward.
The discussion draws upon Labor Migration in Asia: Impacts of the COVID-19 and the Post-Pandemic Future, a report by ADBI, the Organization for Economic Co-operation and Development and International Labour Organization.
Read the transcript https://bit.ly/2T64EBX
Related link Labor Migration in Asia: Impacts of the COVID-19 Crisis and the Post-Pandemic Future https://bit.ly/3fUIf3g
In this podcast, Asian Development Bank Institute Dean Tetsushi Sonobe explains how global efforts to advance quality infrastructure development could enable a more sustainable and inclusive COVID-19 recovery.
He stresses the importance of promoting infrastructure that recouples economic, social, and environmental prosperity, with attention to building support for projects among the general public and private sector.
The discussion is based on policy research being led by ADBI and other think tanks through their collaboration in the Think20 or T20—the think tank network of the G20.
Read the transcript https://bit.ly/3wF0j6X
Related link Think20 (T20) https://bit.ly/3urFfiO
In this podcast, Benjamin Diokno, Governor of Banko Sentral ng Pilipinas, or BSP, discusses financial digitalization and inclusive COVID-19 recovery strategy with ADBI Dean Tetsushi Sonobe. Governor Diokno describes the Philippine central bank’s roadmap for overcoming pandemic shocks and building a stronger, more technologically advanced, and more inclusive economy.
Read the transcript https://bit.ly/2Rt1hEB
Related link ADBI Featured Speaker Webinar: Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno on Financial Digitalization and Inclusive COVID-19 Recovery https://bit.ly/3wgNHmC
The increased use of financial technology, or fintech, during the COVID-19 pandemic has provided households in Asia and the Pacific with more efficient and shock-resilient financial services access, and also helped the region’s micro, small, and medium-sized enterprises remain economically viable by offering faster and cheaper financial services than traditional banking. However, economies and communities may be unable to reap the financial inclusion benefits of fintech without sufficient levels of digital and financial literacy and digital payment infrastructure development.
A recent virtual conference organized by the ADBI, the Asian Development Bank and the Cambridge Centre for Alternative Finance at the University of Cambridge Judge Business School examined the role and impact of fintech during the pandemic. In this podcast, ADBI Research Fellow John Beirne discusses some of the key insights from the event, as well as the implications for policy makers going forward.
Read the transcript https://bit.ly/3ezT8Wx
Related link Virtual Conference on Fintech and COVID-19 https://bit.ly/2Sb1nAM
In this podcast, the University of Chicago’s Anjali Adukia presents her research on the link between school sanitation infrastructure, education growth, and development in India. Adukia describes the importance of latrine construction in schools for driving primary school enrollment, particularly among girls. She also discusses the policy implications of these dynamics for education and sanitation development, investment in school infrastructure, and gender equality.
The discussion draws upon her ADBI Featured Speaker Webinar on sanitation, education, and development.
Read the transcript https://bit.ly/2QjY9ub
Related link ADBI Featured Speaker Webinar: Anjali Adukia on Sanitation, Education, and Development https://bit.ly/2QIxIhm
Greater infrastructure development could give remote, landlocked Central Asian economies a critical boost by enhancing pandemic recovery, poverty eradication, and climate change mitigation. However, growing constraints on the use of public funds will require new financing sources to tackle the region’s substantial infrastructure investment gap.
In this podcast, ADBI research fellow Dina Azhgaliyeva and Waseda University professor Naoyuki Yoshino examine the unique challenges of Central Asian infrastructure development and ways to attract greater private financing in the region moving forward.
The discussion draws upon the new ADBI press book, Developing Infrastructure in Central Asia: Impacts and Financing Mechanisms.
Read the transcript https://bit.ly/2PO9DFO
Related link Developing Infrastructure in Central Asia: Impacts and Financing Mechanisms https://bit.ly/3dpFRPy
Small and medium-sized enterprises – SMEs – account for most businesses and employment in Asia and the Pacific’s developing economies. Reigniting the region’s SME growth via trade will be key to advancing inclusive economic recovery and resilience in the face of COVID-19 challenges.
In this podcast, Waseda University professor emeritus and ADBI visiting fellow, Shujiro Urata, examines the importance of boosting SME trade for developing Asia and the Pacific at this juncture. He describes opportunities and challenges to increasing SME engagement in cross-border production and supply chains, also known as global supply chains, how SMEs could help to meet demand for facial masks, and related policy keys moving forward.
The discussion draws upon his new book, Enhancing SME Participation in Global Value Chains: Determinants, Challenges, and Policy Recommendations.
Read the transcript https://bit.ly/30jYdLM
Related link Enhancing SME Participation in Global Value Chains: Determinants, Challenges, and Policy Recommendations https://bit.ly/3qrrpen
Meeting developing Asia and the Pacific’s demand for quality infrastructure that can support inclusive post-pandemic growth will requires the steady but equitable acquisition of land. However, geography, settlement patterns, conflicting cultures, and unique country-level land use problems often raise concerns about the fairness of land procurement and undermine project viability.
In this podcast, Piyush Tiwari of the University of Melbourne examines land development challenges and the importance of balancing the rights and interests of vulnerable communities with broader infrastructure imperatives. He also describes policy recommendations for strengthening equitable land use, management practices, and infrastructure financing in the region.
The discussion draws upon the new book, Equitable Land Use for Asian Infrastructure, which he co-edited.
Read the transcript https://bit.ly/2N5jW7n
Related link Equitable Land Use for Asian Infrastructure https://bit.ly/3k4r7bR
Like in other parts of Asia and the Pacific, small and medium-sized enterprises – SMEs – are the engine of developing Central Asian economies. Igniting the sector’s trade growth potential will be crucial to the region’s inclusive and sustainable COVID-19 recovery and development.
In this podcast, ADBI Vice Chair of Research, Peter Morgan, examines SME trade challenges in Central Asia Regional Economic Cooperation – CAREC – countries. He also describes the importance of boosting the region’s SME participation in production and supply chains and measures for doing so.
The discussion draws upon the new book, Leveraging SME Finance through Value Chains in CAREC Landlocked Countries, which Morgan co-edited with Naoyuki Yoshino, Professor Emeritus at Keio University and former Dean of ADBI.
Read the transcript https://bit.ly/36Ci503
Related link Leveraging SME Finance through Value Chains in CAREC Landlocked Countries https://bit.ly/3pOnb0O#
Greater digitalization of micro, small, and medium-sized enterprises, or MSMEs, could be the ticket to a speedy recovery of coronavirus shaken economies in Asia and the Pacific in 2021.
In this podcast, ADBI Dean and CEO, Tetsushi Sonobe, discusses the importance of digital development for reviving growth among the region’s developing economies, related challenges and signs of progress, and the road ahead.
He draws upon the findings of new ADBI survey research of MSMEs across Asia and the Pacific.
Read the transcript https://bit.ly/3nqOJYs
Related link ADBI-ADB Webinar on COVID-19 Impacts on Asian MSMEs and Households https://bit.ly/394xqHi
COVID-19 Impacts on ASEAN Households: Survey Findings https://bit.ly/38jyk3x
As the impacts of climate change on the natural environment increase, so too are associated risks to macroeconomic stability and fiscal sustainability, particularly among climate vulnerable economies in developing Asia and the Pacific.
In this podcast, ADBI research fellow, John Beirne, discusses the ways in which climate risks affect the cost of sovereign borrowing and the sustainability of public finances, with a focus on Southeast Asia which is highly threatened by climate change.
The discussion draws upon the new book, Climate Change and Sovereign Risk, which Beirne co-wrote, together with experts from SOAS University of London, ADBI, the World Wildlife Fund for Nature, and 427.
Read the transcript https://bit.ly/3hazrp5
Related link Climate Change and Sovereign Risk https://bit.ly/3pr3VWX
Exploring the link between climate change and sovereign risk https://bit.ly/2KQlCQI
From disposable masks, to plastic partitions, to one-time use food delivery containers, COVID-19 era consumption habits are adding to the build-up of solid waste across Asia and the Pacific—a region that already was experiencing rapid trash accumulation driven by increasing prosperity and urbanization.
In this podcast, ADBI’s senior capacity building and training specialist, Linda Arthur, and research associate, Derek Hondo, describe keys to addressing solid waste management gaps in fast-growing cities in Asia and the Pacific and advancing the Sustainable Development Goals, against the backdrop of new pandemic-related pressures.
The discussion stems from their new policy brief, Solid Waste Management in Developing Asia: Prioritizing Waste Separation.
Read the transcript https://bit.ly/385Mzru
Related link Solid Waste Management in Developing Asia: Prioritizing Waste Separation https://bit.ly/3qYJXnW
Macroeconomic management of the economy as digitalization accelerates during the COVID-19 crisis is a growing challenge for policy makers globally.
In this podcast, ADBI research fellow, John Beirne, discusses the increasing prominence of the digital economy and digital finance and how continued digitalization will affect policies aimed at managing Asia and the Pacific’s emerging market economies.
The discussion draws upon the new book, Macroeconomic Stabilization in the Digital Age, which Beirne co-edited with David G. Fernandez of the Sim Kee Boon Institute for Financial Economics at Singapore Management University.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2KUngR6
Related link Macroeconomic Stabilization in the Digital Age https://bit.ly/33Fm4rj
The Think20, the think tank engagement group of the Group of 20, is hosted by Saudi Arabia in 2020. Under the T20, top experts have developed new evidence-based proposals to help G20 leaders navigate COVID-19 challenges and advance sustainable and inclusive global recovery.
In this podcast, Asian Development Bank Institute Dean Tetsushi Sonobe discusses the policy making environment amid the pandemic, the potential for breakthroughs, and T20 research to guide policy innovation during Saudi Arabia’s G20 presidency and beyond.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2Iz4mho
Related link Think20 (T20) https://bit.ly/36tzszz
In this episode of Asia’s Developing Future, renowned political scientist Francis Fukuyama of Stanford University and ADBI Dean Tetsushi Sonobe discuss the policymaking calculus for advancing infrastructure growth as a sustainable and inclusive recovery driver in politically charged environments.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/32gYgt9
Related link Confronting COVID-19: ADBI Solutions for Asia and the Pacific https://bit.ly/2SR1DlC
The social and economic challenges associated with the COVID-19 pandemic pose a particular threat to Asia’s increasing number of elderly people.
In this podcast, ADBI Capacity Building and Training Economist, Pitchaya Sirivunnabood, discusses the effects of the COVID-19 crisis on the region’s aging societies and strategies for safeguarding seniors moving forward.
The views in this podcast do not necessarily reflect the views and policies of the Asian Developme
Read the transcript https://bit.ly/34bDjRZ
Related link Confronting COVID-19: ADBI Solutions for Asia and the Pacific https://bit.ly/2SR1DlC
ADBI has been conducting extensive, multi-country surveys to gauge the impacts of the COVID-19 pandemic and related government policies on households, small enterprises, and key sectors such as farming and tourism in developing Asia and the Pacific.
In this podcast, ADBI Dean Tetsushi Sonobe discusses what the surveys are revealing about the state of the region’s pandemic response and policy keys for promoting an inclusive and sustainable recovery moving forward.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/3lH0MAk
Related link Confronting COVID-19: ADBI Solutions for Asia and the Pacific https://bit.ly/2SR1DlC
Substantial progress has been made to address the lack of proper sanitation in developing Asia and the Pacific, though it remains a persistent challenge in many places now grappling with the impacts of rapid development and COVID19-related sanitation needs.
In this podcast, sanitation expert Christoph Lüthi of the Swiss Federal Institute of Aquatic Science and Technology in Zurich discusses city-wide inclusive sanitation and how its integrated approach to solid waste management could help to achieve sanitation for all in the region and the 2030 Sustainable Development Goals.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/347kgqn
Related link ADBI-Bill & Melinda Gates Foundation Virtual Session on City-Wide Inclusive Sanitation: Sustainably and Equitably Solving Urban Sanitation https://bit.ly/3cCUQow
As pandemic bonds hit the market, what can Asia do to ensure its green bond growth potential?
The green bond market in Asia and the Pacific has been shaken by the economic impacts of COVID-19. Now competing with pandemic bonds, green bond issuance faces new challenges.
In this podcast, ADBI research fellow, Dina Azhgaliyeva, explains the rising importance of green bonds for the region, the outlook for green bond issuance, and how policymakers can promote the market’s post-pandemic growth.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2H9829f
Related links Green Investments: Renewable Energy https://bit.ly/3iA4sCL
Green Bonds for Financing Renewable Energy and Energy Efficiency in Southeast Asia: A Review of Policies https://bit.ly/2Fyb6et
Achieving policy objectives for green bonds in ASEAN https://bit.ly/35GHDcM
Significant progress has been made to address the lack of proper sanitation in developing Asia and the Pacific, though it remains a persistent and increasingly pronounced challenge in many places now grappling with the impacts of rapid development and COVID19-related sanitation needs.
In this podcast, water expert Takuya Urakami of Kindai University in Osaka discusses Japan’s complex sewage and wastewater services architecture and how its lessons learned in the face of socioeconomic shocks could provide a timely boost to the region’s sanitation development.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/3gIWXYr
Related link https://bit.ly/34NHfcj
COVID-19 is not the only force disrupting transportation systems and mobility. The rise of Mobility as a Service systems such as Uber, Grab, and other smart mobility solutions continue to impact the sector too in new and unforeseen ways, particularly in Asia and the Pacific’s growing cities.
In this podcast, Satish Ukkusuri, a civil engineering professor at Purdue University and Director of its Urban Mobility Networks and Intelligence Lab, discusses the move towards Mobility as a Service, or MaaS systems, and their implications for the future of sustainable urban development in the region.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/3g5qJ9j
Related link Distinguished Speaker Series Webinar: Can Mobility as a Service (MaaS) Technologies Make Cities Smarter? https://bit.ly/2DXujWl
Though COVID-19 continues to weigh on mobility and consumption, demand for infrastructure in Asia and the Pacific is expected to remain high over the coming years and exceed increasingly pandemic-stretched public budgets. In this podcast, Wu Weiping, Professor of Urban Planning at Columbia University’s Graduate School of Architecture, Planning and Preservation, discusses the outlook for private infrastructure financing and growth in the region’s emerging economies. She highlights the gaps between infrastructure investment demand and the interests of private and institutional investors, as well as strategies for bridging this divide.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/3fMzgxN
Related link Distinguished Speaker Series Webinar: Private and Institutional Investment in Urban Infrastructure https://bit.ly/33RiQSv
The COVID-19 pandemic continues to significantly disrupt teaching and learning around the world. In this podcast, former Minister of Education, Science, and Technology of the Republic of Korea, Ju-Ho Lee, discusses teaching reform priorities, against this backdrop. Lee, now a professor at the Korea Development Institute, goes on to describe how artificial intelligence-based High-Touch High-Tech education could be the right learning model for Asia and the Pacific at the right time.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/3jTmzEI
Related links Confronting COVID-19: ADBI Solutions for Asia and the Pacific https://bit.ly/3jXS6Fo
Distinguished Speaker Series Webinar: High-Touch High-Tech Education: Transforming Post-COVID-19 Education https://bit.ly/3g8WnDP
Capitalizing on the accelerating digital transformation of economies in the COVID-19 era will be key to crisis recovery, according to Asian Development Bank Institute Dean Tetsushi Sonobe. In this podcast, he explains why and the policy implications for developing Asia and the Pacific.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2WIYbf4
Related link Confronting COVID-19: ADBI Solutions for Asia and the Pacific https://bit.ly/3jXS6Fo
In this podcast, ADBI Vice Chair of Research, Peter Morgan, discusses the challenges of advancing financial inclusion, financial education, and financial literacy in an increasingly digital world and how the COVID-19 pandemic is further raising the stakes for policy makers and the future of socio-economic welfare.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/394TJfs
Related links T20 Saudi Arabia: Economy, Employment, and Education in the Digital Age https://bit.ly/2CF7sxJ
Policy brief: The Need to Promote Digital Financial Literacy for the Digital Age https://bit.ly/2ZC7AHh
ADBI E-Learning Course https://bit.ly/3fDUfUr
Economic recovery from the COVID-19 crisis could get an important boost right from the palm of your hand.
In this podcast, Purdue University civil engineering professor and Director of its Urban Mobility Networks and Intelligence Lab, Satish Ukkusuri, discusses how mobility data from smartphones and social media can be used to help Asia’s cities mitigate shocks from the pandemic and other disasters.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2YN3qvG
ADBI’s related event Distinguished Speaker Series: Using Mobility Analytics to Understand the Recovery of Cities After Disasters and Pandemics https://bit.ly/2Agz774
Investors have been increasingly integrating environmental, social, and governance (ESG) factors into their investment decisions.
In this podcast, ADBI financial economist, Naoko Nemoto, and Peter Morgan, ADBI vice chair of research, discuss the emergence of ESG investment and its potential to enhance economic sustainability and resilience in Asia in the face of climate and COVID-19 shocks, and related challenges.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2YmWkxE
ADBI’s related publications Environmental, Social, and Governance Investment: Opportunities and Risks for Asia https://bit.ly/3fJqJMo
The coronavirus has contributed to energy market shocks and a rethinking of opportunities for green investments and renewable energy. In this podcast, ADBI research fellow Dina Azhgaliyeva and Ranjeeta Mishra, an ADBI project consultant, discuss COVID-19’s impact on green investments, what’s next for private financing and incentives within the sector, and the implications for Asia’s energy mix. The discussion stems from their new tuition-free, certificate-issuing ADBI E-Learning course Green Investments: Renewable Energy.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2MLCV2L
ADBI E-Learning course Green Investments: Renewable Energy https://bit.ly/30tTybk
The coronavirus has had an acute impact on world trade, global connectivity, and work environments. In this podcast, Tetsushi Sonobe, Dean of the Asian Development Bank Institute, discusses the path to economic recovery, the importance of digitalization, and how the application of behavioral insights can drive resilience in a post-COVID-19 world.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/3eh139s
In this podcast, Ravi Narayanan, chair of the Governing Council of the Asia-Pacific Water Forum and Water Integrity Network, discusses policy recommendations to promote investment in quality water infrastructure in the region needed to combat COVID-19 and advance the Sustainable Development Goals. Narayanan draws upon insights from Water Insecurity and Sanitation in Asia from ADBI Press, as one of the book’s contributing authors.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/368Y5RD
ADBI’s related publications Water Insecurity and Sanitation in Asia https://bit.ly/3dGpWeg
As the COVID-19 pandemic rattles globalization, commerce, and everyday lives, policy makers are increasingly turning their attention to economic recovery which also provides a critical opportunity to advance green investment and environmental sustainability. In this podcast, ADBI Research Fellow Bihong Huang discusses policy recommendations for more effective environmental and climate change governance in the region.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2KO8DLV
ADBI’s related publications Ways to Achieve Green Asia https://bit.ly/2VQtxAs
Protecting the health and safety of vulnerable groups such as the elderly has emerged as an immediate task for policy makers amid the COVID-19 pandemic. In this podcast, ADBI Deputy Dean Chul Ju Kim discusses policy approaches for addressing population aging and the importance of continued implementation efforts in today’s uncertain environment.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2ziZDMn
ADBI’s related publications Aging Societies: Policies and Perspectives https://bit.ly/2Kkpdmp
The novel coronavirus continues to test health systems and economies worldwide. In this podcast, ADBI’s KE Seetha Ram discusses barriers to a simple life saving action to reduce exposure to COVID-19 – handwashing – and how efforts to further strengthen sanitation management can help communities in developing Asia and the Pacific thrive again.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2JOxezB
ADBI’s related blog article Improve handwashing access to combat COVID-19 https://bit.ly/3e9nluk
Uncertainty caused by the new coronavirus is disrupting services industries ranging from healthcare, to travel and tourism, to financial markets, adding to concerns about their capacity to boost Asia’s manufacturing-driven economies. In this podcast, Matthias Helble and Ben Shepherd, co-editors of the new ADBI-ADB book Leveraging Services for Development: Prospects and Policies, along with contributor Valerie Mercer-Blackman, explain why such pessimism is misplaced.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2JvOj1i
ADBI’s related publications Leveraging Services for Development: Prospects and Policies https://bit.ly/2xAC2Gf
Policy makers and researchers recently met at ADBI for a workshop examining green infrastructure investment, policy challenges, and economic implications in Asia. Marco Schletz from the United Nations Environment Program Technical University of Denmark Partnership was among the experts featured at the event. Afterwards, Schletz sat down with Asia’s Developing Future to discuss how blockchain and tokenized securities could revolutionize green finance and inclusive development in the region.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2QIe9TH
ADBI’s related publication Blockchain and Tokenized Securities: The Potential for Green Finance https://bit.ly/2xnmQvH
The novel coronavirus is affecting transportation connectivity worldwide. In this podcast, ADBI’s KE Seetha Ram and Shreyas Bharule, co-editors of the new Handbook on High-Speed Rail and Quality of Life, discuss the sector’s development prospects and socioeconomic effects in the fast-changing and uncertain environment.
Read the transcript https://bit.ly/33oHtDI
ADBI’s related publications Handbook on High-Speed Rail and Quality of Life https://bit.ly/38V5Uda
High-Speed Rail Services in Asia https://bit.ly/2UcXNDt
There are 8,248 think tanks globally, according to the latest Global Go To Think Tank Index Report from the University of Pennsylvania’s Think Tanks and Civil Societies Program. In this podcast, Asian Development Bank Institute Dean Naoyuki Yoshino explains why think tanks are increasingly important in Asia and the Pacific and keys to ensuring their effectiveness in the fast-changing environment.
Read the transcript https://bit.ly/382nxrb
Asian Development Bank Institute Dean Naoyuki Yoshino, chair of the Think20, or T20, under Japan’s 2019 G20 presidency, described the G20 engagement group’s policy innovation outlook at the T20 Saudi Arabia Inception Conference in Riyadh. In this podcast, we listen to Dean Yoshino’s on-stage remarks in which he discusses new T20 policy implementation breakthroughs and how to more effectively translate research ideas into action that delivers more sustainable and inclusive economies.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/36VvRbz
Cecilia Tam, head of the Organisation for Economic Co-operation and Development’s Clean Energy Finance and Investment Mobilisation Programme, recently visited ADBI to discuss efforts to promote private finance for energy efficiency and renewable energy in emerging economies. In this podcast, Tam describes the importance of creating taxonomies, or definitions, of sustainable finance and the impact it could have for green investment in Asia and the Pacific and beyond.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2GhXq45
Chen Long, Secretary-General of Alibaba’s Luo Han Academy, recently spoke at ADBI on the future of financial services access and use in underserved areas of Asia and the Pacific as digital development accelerates. In this podcast, Chen describes inclusive finance challenges and opportunities in the fintech era and signs of new breakthroughs in the region.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2Nwh3ta
In this podcast, ADBI Senior Consulting Specialist for Capacity Building and Training Projects, KE Seetha Ram explains the growing pressure on municipal governments to address increasingly large amounts of diverse waste and innovative management approaches that are being adopted in Asia and the Pacific.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2QUo87Q
ADBI’s related publications Water Insecurity and Sanitation in Asia https://bit.ly/2s3e43Q
Achieving Sustainable Sanitation in Asia https://bit.ly/2T31xIX
Quantifying the Economic Spillover Effect for Citywide Fecal Sludge Management Programs https://bit.ly/2s3euqW
ADBI recently hosted policy makers and researchers for a workshop examining the investment, policy, and economic impacts of green infrastructure and finance development in Asia. The Chinese University of Hong Kong Assistant Professor Hao Zhang was among the experts featured at the event. Afterwards, Zhang sat down with Asia’s Developing Future to discuss why the People’s Republic of China has quickly emerged as a leading green bond issuing country and its policy implications.
The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI).
Read the transcript https://bit.ly/2sCVpeZ
ADBI’s related publications Handbook of Green Finance: Energy Security and Sustainable Development https://bit.ly/35sIHhv
Why Is Green Finance Important? https://bit.ly/2YZHA6z
Green Finance in Singapore: Barriers and Solutions https://bit.ly/2EnTwpj
Green Bond Experience in the Nordic Countries https://bit.ly/35rCkLC
ADBI will launch the new book Central Bank Digital Currencies and Fintech in Asia at the 2019 ADBI Annual Conference in Tokyo. In this podcast, ADBI Research Fellow and co-editor, Bihong Huang provides an overview of the book and its unique insights.
Read the transcript https://bit.ly/2OKSb0w
ADBI’s related publications Central Bank Digital Currency and Fintech in Asia https://bit.ly/2QTqSnn
ADBI recently launched the new book “Achieving Energy Security in Asia: Diversification, Integration and Policy Implications” at ADBI in Tokyo. In this podcast, co-editor Farhad Taghizadeh-Hesary of Waseda University and Dayong Zhang of Southwestern University of Finance and Economics, a discussant at the launch, provide an overview of the book and its unique insights.
Read the transcript https://bit.ly/2O6oqYP
ADBI’s related publications Achieving Energy Security in Asia: Diversification, Integration and Policy Implications https://bit.ly/2D8X6mp
Demand for infrastructure in Asia and the Pacific is surging and so too is the need to train the next generation of workers to construct and manage new infrastructure projects. In this podcast, Dr Sudhir Misra of the Indian Institute of Technology, Kanpur discusses the skills gap in civil engineering in India, the importance of overcoming this common challenge to infrastructure growth and sustainable development in the region, and how it can be practically achieved.
Read the transcript https://bit.ly/36wAk5A
About the author Sudhir Misra, Professor, Department of Civil Engineering, Indian Institute of Technology, Kanpur
ADBI’s related publications Is There a Size-Induced Market Failure in Skills Training? https://bit.ly/2PMA4tf
Skills Training by Small and Medium-Sized Enterprises: Innovative Cases and the Consortium Approach in the Republic of Korea https://bit.ly/2Ni62vV
Building Development Capacities in Asia and the Pacific: Good Practices and Ways Forward for ADBI’s Capacity Building Programs https://bit.ly/36AXSX6
Principles of Infrastructure: Case Studies and Best Practices https://bit.ly/2JPAM5c
Ulrich Volz of SOAS University of London recently visited ADBI to discuss his survey findings of 18 Asia Pacific central banks and regulatory authorities on the importance of incorporating climate and environmental risk into their operations and its potential role in scaling up green finance.
Read the transcript https://bit.ly/2MhguTM
About the author Ulrich Volz is the Head of the Department of Economics and Reader in Economics, SOAS, University of London.
ADBI’s recent publications on green finance https://bit.ly/2nM6ybz https://bit.ly/2OR2IsH
In this podcast, Bank of Papua New Guinea Governor Loi Bakani discusses how his country is leveraging technology to increase financial services access and use to fight poverty and improve living standards.
Read the transcript https://bit.ly/2MmgzEH
About the author Loi Bakani is the Governor of the Bank of Papua New Guinea.
ADBI’s recent publications on financial education https://bit.ly/30TYz9N https://bit.ly/33dmMtm
Lowering trade restrictions makes countries richer and in general, that’s good for everyone. But there are winners and losers from trade, especially as economies adjust to freer trade.
Read the transcript https://bit.ly/2o5ujvk
Read the working paper https://bit.ly/2o6LRXP
About the author Devashish Mitra is a professor of economics at Syracuse University in the United States.
ADBI’s recent publications on trade https://bit.ly/2nV1L7R https://bit.ly/2oTzgng
The 1990s and 2000s was a golden age for manufacturing in Asia, when economies across the region became important players in the burgeoning supply chains that now dominate global trade. Manufacturing boomed, but that is only half the story.
Read the transcript https://bit.ly/2mhkKbg
Read the working paper https://bit.ly/2lYkMom
About the author Ben Shepherd is the principal of Developing Trade Consultants.
ADBI’s recent publications on services https://bit.ly/2koTAia https://bit.ly/2mpp8Fn
Dr Neil Ruiz of the Pew Research Center in Washington, DC discusses new survey findings on what the public in 27 nations thinks about immigration and provides a demographic analysis of migration patterns at ADBI in Tokyo.
Read the transcript https://bit.ly/2m9U10n
About the author Dr Neil Ruiz of the Pew Research Center in Washington, DC
ADBI website http://www.adbi.org
ADBI’s recent publications on migration https://bit.ly/2lOXfWJ https://bit.ly/2k6sr3k
Asian Development Bank Institute Dean Naoyuki Yoshino and renowned political scientist Francis Fukuyama of Stanford University’s Leadership Academy for Development discuss strategies for meeting developing Asia’s surging demand for infrastructure.
Read the transcript https://bit.ly/2kgBsqS
About the author Naoyuki Yoshino is the dean and chief executive officer of the Asian Development Bank Institute and professor emeritus of Keio University in Tokyo. Francis Fukuyama is a political scientist at Stanford University’s Leadership Academy for Development.
ADBI website http://www.adbi.org
ADBI’s recent publications on infrastructure https://bit.ly/2lVlrXD https://bit.ly/2lAcV0g
Asian Development Bank Institute Dean Naoyuki Yoshino met with Indonesian Finance Minister Sri Mulyani to discuss the future of trade and economic resiliency in Southeast Asia.
Read the transcript https://bit.ly/34bNXWS
About the author Naoyuki Yoshino is the dean and chief executive officer of the Asian Development Bank Institute and professor emeritus of Keio University in Tokyo.
Citizens of the Republic of Korea know the country needs to change how it generates energy. They breathe in evidence of that need every day. Ultra-fine dust covers the whole country; more of it than in any other country in the OECD.
As a recent working paper for the Asian Development Bank Institute points out, companies and private citizens have yet to fully endorse the idea of going green despite more than two decades of government efforts to address climate change.
Read the transcript https://bit.ly/2MvORro
Read the working paper https://bit.ly/2P8Zhzv
About the authors Deokkyo Oh is a research fellow at the Korea Corporate Governance Service in Seoul. Sang-Hyup Kim is an adjunct professor at the Korea Institute for Advanced Science and Technology in Seoul.
Know more about ADBI’s work https://bit.ly/2V1rgzl https://bit.ly/31r51WD
Green energy projects need innovative funding methods if they are to succeed in Asia. One option governments could consider is to plow additional taxes generated by green energy projects back into those projects.
Read the transcript https://bit.ly/2H2AJBt
Read the working paper https://bit.ly/33tRZt3
About the authors Naoyuki Yoshino is the dean and chief executive officer of the Asian Development Bank Institute and professor emeritus of Keio University in Tokyo. Farhad Taghizadeh-Hesary is an assistant professor at the Faculty of Political Science and Economics of Waseda University in Tokyo.
Related videos https://bit.ly/2mRi1Uv https://bit.ly/2srrlBL
Know more about ADBI’s work https://bit.ly/33xQhak https://bit.ly/2yWEvrN https://bit.ly/2Z7kGwu
Singapore wants to be a hub for green finance in Asia. The launch of two successful “green” bonds signaled that intention but serious work is still required to bring the goal closer to reality.
The city-state is already a financial hub for the region. Becoming a center for green financing is a laudable goal but the hurdles Singapore faces are not small.
Read the transcript https://bit.ly/31peJbT
Read the working paper https://bit.ly/2Ti95pi
About the authors Youngho Chang is the Head of Business and Management Minors, School of Business, Singapore University of Social Sciences.
Know more about ADBI’s work https://bit.ly/31r51WD https://bit.ly/2Kv2cNn
The idea that manufacturing is superior to services for powering a country’s economy has long been taken as a given.
That’s why some economists have issued warnings about developing countries experiencing what they call premature deindustrialization. In those countries, they see service activity overtaking manufacturing before a proper manufacturing economy has taken hold.
But what if the way services are measured no longer reflects modern production? And what if services don’t deserve to be relegated to a lesser form of production anyway?
Read the transcript https://bit.ly/2KeCFYz
Read the working paper https://bit.ly/2OrCE8R
About the authors Valerie Mercer-Blackman is a senior economist at the Asian Development Bank. Christine Ablaza is a doctoral student at the University of Queensland in Brisbane.
Know more about ADBI’s work https://bit.ly/2YuWWhH https://bit.ly/2YufPRH
Small and medium-sized companies have trouble raising money and that’s a problem, since they account for a large part of the global economy. If there was a way to make it easier for them to get cash, everyone would benefit.
Peer-to-peer lending could be one answer.
P2P lending, as it is known, matches investors with individuals and companies looking for funds. It’s an internet-based process that is part of a booming field called financial technology, or fintech for short.
Read the transcript https://bit.ly/2YljVzH
Read the working paper https://bit.ly/2Yn5U4E
About the authors Naoko Nemoto is a financial economist at the ADBI. David Storey is a graduate student of economics at the University of Warwick and former research associate at ADBI. Bihong Huang is a research fellow at ADBI.
Know more about ADBI’s work https://bit.ly/2Y8aQuY https://bit.ly/32R3FpF
Trade in services, and not just merchandise, needs to be encouraged so that countries can meet the Sustainable Development Goals targeted by the United Nations for 2030.
Trade liberalization is key to many of the 17 areas addressed in the 2015 agreement, whether directly or implicitly. The goals set out in the agreement cover a range of topics, from poverty reduction to improving public health and protecting the environment.
Read the transcript https://bit.ly/2XSz0o7
Read the working paper https://bit.ly/2LrWMWe
About the authors Matteo Fiorini is a Fellow at the Robert Schuman Centre for Advanced Studies of the European University Institute. Bernard Hoekman is a Professor and Director at the institute.
Know more about ADBI’s work https://bit.ly/2XJHJ0F https://bit.ly/2LZCEKv
Routinization is the process where technological advances become cheap enough that they can be used to replace the routine tasks done by workers. Listen to how this affects developing vs developed Asia.
Read the transcript https://bit.ly/2S3LJD4
Read the working paper https://bit.ly/2YRnmLi
About the author Mitali Das is a deputy division chief at the International Monetary Fund.
Know more about ADBI’s work https://bit.ly/2JnpMfr
Economists have been trying to figure out why the share of income taken by workers has been declining in many economies. While global growth has continued to make the pie bigger, the share of that pie dished out for labor has shrunk in many places.
It’s an important issue, since greater inequality is usually the result when workers are getting less of the pie but the owners of the businesses they work for are taking home a bigger slice.
Read the transcript https://bit.ly/2X6bBzi
Read the working paper https://bit.ly/2ZJ79rH
About the authors Kyoji Fukao is a professor of economics at the Institute of Economic Research of Hitotsubashi University. Cristiano Perugini is an associate professor at the University of Perugia.
Know more about ADBI’s work https://bit.ly/2XDWp0E
On the eve of the G20 summit in Osaka, representatives of the Think20, the G20’s research and policy advisory network, met with Japan Prime Minister Abe Shinzo to discuss T20 policy recommendations for consideration by G20 leaders during the proceedings.
ADBI Dean and T20 Japan Chair Naoyuki Yoshino was among them and will champion T20 proposals during the G20 summit in Osaka.
Read the transcript https://bit.ly/2IIzBo9
Visit the T20 website https://t20japan.org
Rapid development is spiking global infrastructure demand and driving policy makers to seek trillions of dollars in funding for projects ranging from roads, ports, and airports to water and sanitation systems to digital networks.
Greater productivity, poverty reduction, and inclusive growth hinge on meeting these financing needs and advancing the build-up of quality infrastructure, says ADBI Dean Naoyuki Yoshino, who is the Chair of T20 Japan and lead co-chair of its infrastructure policy task force.
Read the transcript https://bit.ly/2MZrS9m
Visit the T20 website https://t20japan.org
Read Task Force 4: Economic Effects of Infrastructure Investment and its Financing https://bit.ly/2FmyMiv
A growing number of G20 countries are confronted with rapidly aging societies. This demographic transition poses a serious threat to economic stability, as ADBI Deputy Dean Chul Ju Kim, lead co-chair of the T20 Japan task force on population aging, explains.
Read the transcript https://bit.ly/2F5JZE7
Visit the T20 website https://t20japan.org
Read Task Force 10: Aging Population and its Economic Impact + Immigration https://bit.ly/2ZiNUVH
Think 20 (T20) is the research and policy advice network for the G20 which in 2019 is chaired by ADBI as part of Japan’s G20 presidency. In this podcast, we look at T20 policy solutions for addressing the Future of Work and Education for the Digital Age.
The Lead Co-Chair of the T20 Japan task force tackling this rapidly emerging issue is Dr Peter Morgan, ADBI Senior Consulting Economist and Vice Chair of Research.
Read the transcript https://bit.ly/2YSxO4T
Visit the T20 website https://t20japan.org
Read Task Force 7: The Future of Work and Education for the Digital Age https://bit.ly/30OBoyT
Read the latest ADBI publication: Realizing Education for All in the Digital Age https://bit.ly/2JKjuIp
Large-scale funding is needed to transform fossil fuel dominated energy markets into a low-carbon energy sector, and that requires private sector participation, both in terms of investment and institution building, especially in Asia, which is the current growth center of the world.
Countries have to accelerate further investment into low-carbon energy infrastructure to meet their Paris Climate Change Accord commitments. And thus, there are new opportunities for green growth. Public–private partnerships and green investment banks are two effective ways to bring private-sector funding on board to promote those goals.
Read the transcript https://bit.ly/2HlYbdE
Read the working paper https://bit.ly/2JoS5LV
About the authors Dharish David is an associate faculty member at the Singapore University of Social Sciences. Anbumozhi Venkatachalam is a senior energy economist at the Economic Research Institute for ASEAN and East Asia.
Know more about ADBI’s work https://bit.ly/2LHd91X https://bit.ly/2VnJ1II
The Think20 (T20), the G20’s research and policy advice network, will hold its annual summit in Tokyo on 26-27 May 2019 to detail groundbreaking policy innovations for consideration by G20 Leaders during their summit in Osaka one month later. In this episode of Asia’s Developing Future, T20 Japan Chair, ADBI Dean Naoyuki Yoshino, explains how the T20’s empirical approach to policy development could do wonders for G20 countries ability to tackle emerging challenges at this critical juncture for the global economy.
Read the transcript https://bit.ly/2LYbntE
Visit the T20 website https://t20japan.org
Watch our animation on localized green energy projects https://bit.ly/2WShGjn
Fast-growing Bangladesh is getting richer but environmental issues are being left behind. It may be time to take a step back and look at what could and should be done to avert a potential catastrophe.
Bangladesh is one of the countries most exposed to climate change events. Almost 75% of its territory lies less than 10 meters above sea level, and more than 700 rivers run through its territory. Floods, drought, salinity, cyclones, sea-level rises, and more may become more common in the coming years.
At the same time, its 160 million inhabitants are starting to benefit from growth of over 6% a year in the last decade. Per capita energy consumption has almost doubled since 2000 and millions who never had access to power can now flip a switch for lights or plug in appliances to get electricity.
Read the transcript https://bit.ly/2VurCCW
Read the working paper https://bit.ly/2WEnOfa
About the author Monzur Hossain is a senior research fellow at the Bangladesh Institute of Development Studies in Dhaka, Bangladesh.
Know more about ADBI’s work https://bit.ly/2HfcAXE
The share of national income earned by workers has been falling in most countries, and inequality has been rising as a result. The opposite is true in Malaysia. But what seems to be good news there is masking a worrying trend.
Income share has become a focus of economists and social policy advocates as the share of income taken by workers has fallen and that earned by the owners of capital has risen. It’s a global version of “the rich get richer” in effect, and has been seen throughout the world in recent years.
So, it makes sense that when labor income share was seen to be rising in Malaysia, and inequality evening out, the trend would draw attention.
Unfortunately, the reason behind what would seem on the surface a positive shift in Malaysia can likely be blamed on the country’s de-industrializing, says researchers for a working paper for the Asian Development Bank Institute.
Read the transcript https://bit.ly/2GHsFXd
Read the working paper https://bit.ly/2W4FDU7
About the authors Allen Ng is director of research at Malaysia’s Khazanah Research Institute. Tan Theng Theng and Tan Zhai Gen are research assistants at the institute.
Know more about ADBI’s work https://bit.ly/2GC5lKu
The global trend to more open trade and migration has benefited the global economy, but the share of income taken by labor has been declining at the same time.
As protectionism and anti-migration policies grow in some countries, the role of globalization in the declining share of labor income has become a focus. That labor is seeing a decline in its share of income in many countries has been shown in a number of studies. The question is, why?
Read the transcript https://bit.ly/2W4pYnK
Read the working paper https://bit.ly/2DwDTMl
About the authors Ken Suzuki is a researcher at the Embassy of Japan in Jordan. Yoko Oishi is a research associate at the Asian Development Bank Institute (ADBI). Saumik Paul was a research economist at ADBI at the time the working paper was published.
Know more about ADBI’s work https://bit.ly/2GC5lKu
Viet Nam has made ambitious commitments to combat climate change under the Paris Agreement, but only by making massive changes will it be able to live up to those plans.
Viet Nam’s carbon intensity—or the use of carbon in its economy—is currently the second highest in Asia. The growth in the amount of greenhouse gasses it produces is among the fastest in the world.
Rather than demonstrating a clear program to switch to alternative energy sources, the government plans an even greater reliance on fossil fuels to maintain the country’s impressive growth rate.
Read the transcript https://bit.ly/2ItEKRZ
Read the working paper https://bit.ly/2VVdWx1
About the authors Trong Co Nguyen is a director at Viet Nam’s Academy of Finance in the Ministry of Finance. Anh Tu Chuc is an associate professor at the Academy of Finance in the Ministry of Finance. Le Ngoc Dang is a faculty member of the International Finance Department at the Academy, which is based in Ha Noi.
Know more about ADBI’s work https://bit.ly/2IFRcgQ https://bit.ly/2MbErO1
Limits to internal migration increase disparity and keep the People’s Republic of China (PRC) from reaping the full benefit of its trade and industry success.
The PRC’s internal registration system, known as “hukou,” calls for residents to be registered and identified in the places they live. Although the system has been somewhat relaxed over the last few decades, obtaining hukou in cities such as Beijing or Shanghai remains difficult for those who move there in search of work.
Workers who come to those cities without valid hukou are not eligible for some jobs or the full range of social services available to official residents.
Read the transcript https://bit.ly/2Ko8OjI
Read the working paper https://bit.ly/2U7PTdR
About the authors Yuan Zi is an assistant professor at the University of Oslo in Norway.
Know more about ADBI’s work https://bit.ly/2UOCN8F
Services firms can help manufacturing grow in developing countries. But the quality and technological competence of those companies is what matters most when it comes to positive spillover effects. The simple existence of service firms isn’t enough to make a difference for manufacturers. In addition, countries which allow more open trade in services can expect to see a greater benefit for their manufacturing sector, and that is especially true for low-income countries. The makeup of manufacturing companies is also a factor in whether they will benefit from contact with services firms.
Those are the main findings of a working paper for the Asian Development Bank Institute, which looked at the spillover benefits that service firms can have on manufacturing.
Read the transcript https://bit.ly/2JUYGyC
Read the working paper https://bit.ly/2TRudkC
About the authors Deborah Winkler is a senior consultant and principal at Global Economic Policy LLC.
Know more about ADBI’s work https://bit.ly/2FODchP
Liberalizing energy markets so that locally generated renewable energy projects have a chance to compete with big utilities is only the first step in getting those projects off the ground.
Other policies are needed to ensure the participation of local politicians and consumers. Those policies should promote financial returns from local power suppliers that are large enough to compete with traditional suppliers. And everyone needs to know that the profits of those local providers are being reinvested locally.
Those are two of the recommendations of a working paper for the Asian Development Bank Institute that looked at energy market reforms in Japan and France.
Read the transcript https://bit.ly/2JKtoKQ
Read the working paper https://bit.ly/2FIZgLW
About the authors Aki Suwa is a professor at the Faculty for the Contemporary Society of Kyoto Women's University in Japan. Magali Dreyfus is a researcher at the National Centre for Scientific Research and the Center for European Research on Administration, Politics and Society, of Lille University in France.
Know more about ADBI’s work https://bit.ly/2V1rgzl
A general tax on consumption that would fund the development of a low-carbon energy system is the only way greenhouse gas emissions will be reduced in time to benefit future generations. The solutions being tried now are not getting the job done.
That’s the message of a recent working paper for the Asian Development Bank Institute. The paper explains why the solutions most commonly being used now are not working. It details how a new consumption tax could fund the research and development needed to avoid a coming disaster. Jatin Nathwani of the University of Waterloo and Artie W. Ng of the Hong Kong Polytechnic University explain.
Read the transcript https://bit.ly/2HIDOYL
Read the working paper https://www.adb.org/publications/cap-invest-strategy-managing-intergenerational-burden-financing-energy-transitions
About the authors Jatin Nathwani is Ontario Research Chair in Public Policy for Sustainable Energy and Executive Director at the Waterloo Institute for Sustainable Energy of the University of Waterloo in Canada. Artie W. Ng is principal lecturer with the Hong Kong Polytechnic University in Hong Kong, China.
Know more about ADBI’s work https://bit.ly/2TPOWu4
Research has shown that better access to banking can help lift people out of poverty. A recent study in Bangladesh confirms that link. But it also suggests that policy makers should consider the large regional and local differences when applying regulations.
The study, detailed in a recent working paper for the Asian Development Bank Institute, matched maps compiled from poverty data in Bangladesh with maps that tracked local-level banking services.
Read the transcript https://bit.ly/2HouDN3
Read the working paper https://www.adb.org/publications/regional-variations-banking-services-poverty-reduction-evidence-bangladesh
About the authors Kazi Iqbal is a senior research fellow at the Bangladesh Institute of Development Studies. Paritosh K. Roy is assistant professor at the Institute of Statistical Research and Training of the University of Dhaka. Shamsul Alam is senior secretary of the General Economics Division of the Planning Commission, Government of Bangladesh.
Know more about ADBI’s work https://bit.ly/2NXnxAg https://bit.ly/2CeOURR
Advances in financial technology can help farmers in Asia raise money to improve their operations and deal with the risks that come from uncertain weather and other factors outside their control.
A mass migration is taking place in Asia as people move from farms to the cities, raising standards of living as countries industrialize. Still, farming remains very important to much of developing Asia. And improving the lives of farmers means improving the lives of the poorest citizens, in many cases.
Research has shown that almost all the poverty reduction in Asia since 2002 took place in rural areas. So, while the importance of agriculture to Asian economies is mostly declining, it remains the sector with the strongest role in reducing poverty.
Read the transcript https://bit.ly/2GX5lWX
Read the working paper https://www.adb.org/publications/use-financial-technology-agriculture-sector
About the authors Craig McIntosh is a professor at the School of Global Policy and Strategy of the University of California, San Diego. Caio Scuarcialupi Mansini is a graduate student in the same school.
Know more about ADBI’s work https://bit.ly/2Xu9d6C https://bit.ly/2HeEtkC
Watch the related video https://bit.ly/2Td4M1r
Indian cities should establish teams to tap the expertise contained within their global counterparts.
Rather than starting from scratch, they can jump ahead by connecting with counterparts that have already navigated the challenges they face. For example, they can learn how to brand themselves as prime locations for corporate ecosystems by partnering with global peers.
The home for these collaborations should be urban local bodies, known as ULBs, the organizations charged with planning and development for their cities. ULBs should focus some of their efforts on collaborating with their peers as a major tool to advance their goals. Prasad Thakur, a founding member of the War Room—City Transformation Unit at Pune Municipal Corporation, India, explains.
Read the transcript https://bit.ly/2Sr5VNK
Read the blog https://bit.ly/2SZDpbd
About the authors KE Seetha Ram is a senior consulting specialist for ADBI’s capacity building and training projects. Prasad Thakur is a founding member of the War Room—City Transformation Unit at Pune Municipal Corporation, India.
Know more about ADBI’s work https://bit.ly/2NsHkHv https://bit.ly/2NuerL8
Thailand has been using tax policies to promote growth and encourage foreign investment. Some of those measures have succeeded but more attention needs to be paid to the revenue-raising side of the tax regime.
Globalization has disrupted the way countries think about their tax regimes. In the past, the issue of double taxation was at the forefront, whether companies would have to pay tax in both their home country and in other countries where they had a presence. Today, the issue is whether they will be taxed at all.
Read the transcript https://bit.ly/2BDVvoz
Read the report https://www.adb.org/publications/tax-and-development-challenges-in-asia-pacific
Read the chapter https://bit.ly/2J0RJb7
About the author Patricia Mongkhonvanit is deputy director-general of the Revenue Department of Thailand.
Know more about ADBI’s work https://bit.ly/2DswkGU https://bit.ly/2FKtYVW
Increasing the use of property and income taxes in the People’s Republic of China won’t be popular, but it is necessary. Relying more on property and income tax will not only help the China government balance its budget but could smooth income inequality and limit unrestrained urban expansion.
As countries develop, they tend to keep balance between indirect taxes such as a levy on goods and services and direct taxes on incomes and property. That allows the government to use tax policy to meet social or fiscal goals while raising money to invest in a social safety net.
In China, direct taxes account for a much smaller percentage of total tax revenue than in member countries of the Organisation for Economic Co-operation and Development. In 2014, China raised 9.5% of its revenue through direct taxes, compared with 20.3% on average in OECD countries.
Read the transcript https://bit.ly/2E6FSHU
Read the report https://www.adb.org/publications/tax-and-development-challenges-in-asia-pacific
Read the chapter https://bit.ly/2BNcR2h
About the authors Jürgen Conrad headed the Asian Development Bank’s economics team in Beijing at the time this paper was written. Jian Zhuang is an economist at ADB’s Resident Mission in Beijing.
Know more about ADBI’s work https://bit.ly/2DswkGU https://bit.ly/2FKtYVW
Postal savings banks should be developed as a key factor of the economies in emerging Asia. Building or rebuilding postal savings banks would help modernize and deepen financial systems that are still vulnerable to the whims of global capital flows, as well as provide financial services to citizens who lack access to them.
A recent book published by the Asian Development Bank Institute, Postal Savings—Reaching Everyone in Asia, suggests using the success of postal savings banks in countries like Japan as an example for emerging countries in Asia.
Read the transcript https://bit.ly/2GJC5lD
Read the report https://www.adb.org/publications/postal-savings-reaching-everyone-asia
About the author Anwar Nasution is an economist at the University of Indonesia in Jakarta.
Know more about ADBI’s work https://bit.ly/2sQUSmI
The Bank of Japan’s ongoing purchases of Japanese stocks has warped the country’s equity markets. Every day it continues will make the eventual unwinding of those holdings harder, both for the central bank and for the markets themselves.
In January 2013, the BOJ introduced a 2% price stability target in an effort to extract the country from more than a decade of stagnant or falling prices. That in itself was a rare move by a central bank. Sayuri Shirai of Japan’s Keio University explains.
Read the transcript https://bit.ly/2WJldke
Read the working paper https://www.adb.org/publications/boj-exchange-traded-fund-purchases-unprecedented-monetary-easing-policy
About the author Sayuri Shirai is a professor at Japan’s Keio University and a visiting scholar at the Asian Development Bank Institute and served on the Bank of Japan’s monetary policy board from 2011 to 2016.
Know more about ADBI’s work https://bit.ly/2GsYxyX
Postal savings banks can expand their financial services and bring them to more people, by using foreign remittances as a springboard.
With $250 billion in remittances flowing into Asia every year, postal savings banks can provide cheaper and easier ways for people to access those funds and become one-stop-shops for financial services in Asia.
That’s the suggestion of a recent book published by the Asian Development Bank Institute, Postal Savings – Reaching Everyone in Asia.
Read the transcript https://bit.ly/2HGukPh
Read the report https://www.adb.org/publications/postal-savings-reaching-everyone-asia
About the author Hans Boon is chief executive officer of PostFinance Int’l Development, Amsterdam, a consultant for the World Bank and the International Fund for Agricultural Development, and a director of Eurogiro in Denmark.
Know more about ADBI’s work https://bit.ly/2sQUSmI
Regulations need to be stronger, and their implementation needs to be simpler, to bring more small- and medium-sized enterprises (SMEs) into Indonesia’s tax system.
SMEs are an important and growing segment of Indonesia’s economy but they are under-represented when it comes to paying tax. In 2015, SMEs accounted for 60% of the country’s gross domestic product.
The SME sector has been growing fast because the use of information technology and the promotion of creative industries have been adapted to local characteristics. Significant SME growth has taken place in fashion, food, advertising, interior design, and software development.
Read the transcript https://bit.ly/2WaXZ6A
Read the report https://www.adb.org/publications/tax-and-development-challenges-in-asia-pacific
Read the chapter https://bit.ly/2GyqbM7
About the authors Wawan Juswanto was special advisor to the dean of ADBI and a senior economist in the Capacity Building and Training Department of ADBI at the time the book was written. Milson Febriyadi is a fiscal analyst in the Fiscal Policy Agency of the Ministry of Finance in Indonesia.
Know more about ADBI’s work https://bit.ly/2DswkGU https://bit.ly/2FKtYVW
Postal savings banks have a better record than other financial institutions when it comes to giving women access to financial services. But even more could be done if countries expanded the use of postal savings banks, especially if postal authorities were to actively focus on services attractive to women.
Studies have shown that household wealth and income increase when women have more access to financial services such as bank accounts. Research has also shown that increasing the ability of women to generate, save, and control income can improve child nutrition and schooling outcomes.
Read the transcript https://bit.ly/2T3liNG
Read the report https://www.adb.org/publications/postal-savings-reaching-everyone-asia
About the author Smriti Rao is an associate professor of economics and global studies at Assumption College in the United States.
Know more about ADBI’s work https://bit.ly/2sQUSmI
Growing populations of the overweight and obese are putting a multi-billion-dollar strain on health costs in developing countries and stifling economic growth.
A new book by the Asian Development Bank Institute gathers analyses by economists, doctors, and public health experts on the issue. Overweight and Obesity in Asia and the Pacific: Trends, Costs, and Policies for Better Health was edited by Matthias Helble, ADBI’s co-chair of research at the time the book was published and now an economist at the Asian Development Bank headquarters in Manila, and Azusa Sato, a health specialist at the Asian Development Bank, in Manila.
Read the transcript https://bit.ly/2HdOjVp
Read the report https://www.adb.org/publications/wealthy-unhealthy-overweight-and-obesity-asia-and-pacific-trends-costs-and-policies
About the authors Matthias Helble is an economist at the Asian Development Bank (ADB) in Manila. Azusa Sato is a health specialist also at ADB.
Know more about ADBI’s work https://bit.ly/2SmLjH9 https://bit.ly/2SkFTN7
Watch the related video https://bit.ly/2RvoGnQ
Falling international energy prices, which are causing an economic crisis in the Russian Federation and some other countries in the region, are having major spillover effects on Central Asia. In the economy and financial sector of Tajikistan, remittances from workers have fallen sharply.
Tajikistan covers some 141,000 square kilometers, with a population of about 9 million people. With a gross domestic product of about $7.0 billion—per capita about $800—it is one of the most remittance-dependent countries in the world.
For several years it was number one in the world in remittances-to-GDP ratio in 2014, dropping to fourth place in 2016 because remittances from the crisis-affected Russian Federation declined.
Read the transcript https://bit.ly/2SVDPLz
Read the working paper https://www.adb.org/publications/financial-inclusion-regulation-literacy-education-tajikistan
About the authors Roman Mogilevskii is associate director and senior research fellow at the Institute of Public Policy and Administration. Shokhboz Asadov is a senior research fellow also at the Institute of Public Policy and Administration, University of Central Asia.
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The number of think tanks in Asia has grown over the last decade and many have become prominent.
The 2017 Global Go To Think Tank Index Report records 1,676 think tanks in Asia as of December 2017, almost as many as the 1,872 in the United States, and gaining on the 2,045 that have set up in Europe. The report says there are about 8,000 think tanks globally.
James McGann, the creator and editor of the report and director of the Think Tanks and Civil Societies Program at the University of Pennsylvania, credited the growth of think tanks to Asia’s economic progress, a better business environment, and policy makers’ need for advice on critical issues.
Read the transcript https://bit.ly/2LWUAn9
Read more about the event https://www.adb.org/news/events/think-tanks-new-knowledge-policy-brokers-asia
About the author James McGann is senior lecturer of international studies at the Lauder Institute and director of the Think Tanks and Civil Societies Program at the University of Pennsylvania. He is also the creator and editor of the annual Global Go To Think Tank Index.
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Information is power, and that is true as India tries to solve its water crisis. In June 2018, the Government of India acknowledged that it is in the midst of the worst water crisis in the country’s history. By creating a tool that points out where exactly the government is lacking in managing water resources, India has armed itself with the power to fix the crisis. The move could not have come at a better time as poor water access and sanitation threaten people’s lives and livelihoods.
Read the transcript https://bit.ly/2RzCVqV
Read the blog https://www.asiapathways-adbi.org/2018/08/composite-water-management-index-a-pathway-to-solve-the-water-crisis-in-india/
About the author Nikhil Bugalia was an intern at the Asian Development Bank Institute and a PhD candidate at the University of Tokyo at the time the study was published.
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With think tanks around the world now numbering 8,000 and counting, how do you pick the best among them? James McGann, senior lecturer of international studies at the Lauder Institute and director of the Think Tanks and Civil Societies Program at the University of Pennsylvania, identified four things a think tank must master.
Read the transcript https://bit.ly/2QlU2Ym
Read more about the event https://www.adb.org/news/events/think-tanks-new-knowledge-policy-brokers-asia
About the author James McGann is senior lecturer of international studies at the Lauder Institute and director of the Think Tanks and Civil Societies Program at the University of Pennsylvania. He is also the creator and editor of the annual Global Go To Think Tank Index.
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The Association of Southeast Asian Nations has a long-standing agreement to build and maintain rice reserves to deal with natural disasters and growing food insecurity among its 10 members. The rice reserves are effective, but more needs to be done to streamline funding of and access to the reserves to make sure relief arrives faster.
An Asian Development Bank Institute study found that ASEAN member countries should speed up negotiation for, coordination of, and responses to requests for emergency food aid.
Read the transcript https://bit.ly/2LOkf13
Read the policy brief https://www.adb.org/publications/building-food-security-asia-through-international-agreements-rice-reserves
About the authors Kunmin Kim is a task manager at the Asian Development Bank Institute. Paula P. Plaza is a litigation lawyer at Angara Abello Concepcion Regala & Cruz Law Offices in the Philippines.
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How can private investors be persuaded to invest in public infrastructure – like new highways, railways, and dams?
Many governments don’t want to incur further debt. And most politicians are reluctant to impose new or higher taxes on citizens who use the infrastructure.
Institutional investors—such as pension funds—don’t generally see infrastructure as an attractive investment option. This is especially so in emerging economies with untried borrowers.
Read the transcript https://bit.ly/2Rj8RPY
Read the blog https://www.asiapathways-adbi.org/2017/05/kick-start-private-infrastructure-with-future-tax-sharing-bonds/
About the authors Naoyuki Yoshino is dean and chief executive officer of the Asian Development Bank Institute (ADBI) and professor emeritus at Keio University, Tokyo. Grant Stillman is legal advisor at ADBI.
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Economic development can have significant health costs for growing numbers of overweight and obese people, as the example of Indonesia illustrates. This is what a new book by the Asian Development Bank Institute concludes. Overweight and Obesity in Asia and the Pacific: Trends, Costs, and Policies for Better Health gathers analyses by economists, doctors, and public health experts, including Matthias Helble, ADBI’s co-chair of research at the time the book was published and now an economist at the Asian Development Bank headquarters in Manila, and Toshiaki Aizawa, a PhD student at the University of York in the United Kingdom. They write that the growing numbers of overweight and obese people are one of the most pressing public health issues, particularly in developing countries, where almost two-thirds of the world’s obese people live.
Read the transcript https://bit.ly/2rTEZLG
Read the report https://www.adb.org/publications/wealthy-unhealthy-overweight-and-obesity-asia-and-pacific-trends-costs-and-policies
About the authors Matthias Helble was co-chair of research at the Asian Development Bank Institute at the time the book was published and now an economist at ADB headquarters in Manila. Toshiaki Aizawa is a PhD student at the University of York in the United Kingdom.
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Digital technology is essential to better financial services for small businesses
Better financial services are needed by micro, small, and medium-sized enterprises (MSMEs), such as secured transaction frameworks, credit information systems, and insolvency regimes.
Among the 21 Asia-Pacific Economic Cooperation (APEC) forum economies, MSMEs represent more than 60% of total employment, 40% of gross domestic product, and 15% of total exports, but some 40% of their financial needs go unserved, mainly because they are too small to get banks’ attention. Shawn Hunter, David Dole, and Valdimir dela Cruz explain.
Read the transcript https://bit.ly/2V1WGGz
Read the policy brief https://www.adb.org/publications/financial-inclusion-digital-age
About the authors Shawn Hunter is manager of Inclusive Finance at the Foundation for Development Cooperation. Valdimir dela Cruz was an associate at the Asian Development Bank Institute (ADBI) at the time the paper was written. David Dole is senior economist at ADBI.
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Developing countries need to urgently deal with an obesity “time bomb” ticking away in their economies, and which is already dragging down growth and driving up health costs.
The World Health Organization says that in 2016, more than 1.9 billion adults were overweight and 650 million were obese, with the worldwide prevalence of obesity nearly tripling since 1975. Mathias Helble and Azusa Sato investigate.
Read the transcript https://bit.ly/2SaqUFd
Read the report https://www.adb.org/publications/wealthy-unhealthy-overweight-and-obesity-asia-and-pacific-trends-costs-and-policies
About the authors Mathias Helble is a former senior economist and co-chair of the Asian Development Bank Institute’s Research Department in Tokyo. Azusa Sato is a health specialist at the Asian Development Bank in Manila.
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Asia may have made headway in channeling investments into green projects, but it needs $26.2 trillion between 2016 and 2030 or $1.7 trillion annually to finance sustainable and climate-resilient infrastructure. Southeast Asia alone needs an estimated $110 billion annually for investment in power, transport, information and communication technology, and water and sanitation through 2025.
Asia has a lot more catching up to do than other regions. In 2016, green investments in Asia, excluding Japan, totaled $52 billion, accounting for only 0.8% of all funds under management in the region. This pales in comparison with 52.6% in Europe, 50.6% in Australia and New Zealand, 37.8% in Canada, and 21.6% in the United States. Ulrich Volz of SOAS explains.
Read the transcript https://bit.ly/2RTi7r9
Read the working paper https://www.adb.org/publications/fostering-green-finance-sustainable-development-asia
About the author Ulrich Volz is head of the Department of Economics at SOAS, University of London.
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Lessons learned during the Asian financial crisis leave central banks in developing Asia well-prepared for potentially volatile times as the world emerges from a period of ultra-low interest rates. That’s the view of central bank expert Hans Genberg, an advisor at the South East Asian Central Banks Research and Training Centre in Kuala Lumpur, Malaysia.
Read the transcript https://bit.ly/2B9UzHx
Read the report https://bit.ly/2B9D7mv
Watch the presentation https://bit.ly/2UvwwM1
About the author Hans Genberg is advisor to the South East Asian Central Banks Research and Training Centre in Kuala Lumpur, Malaysia.
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Land trusts are the best way for governments in Asia to acquire private land for infrastructure projects. They also increase the likelihood that private companies will help build the roads, bridges, and railways that will keep economies growing.
Recent research by the Asian Development Bank Institute notes that political upheaval has often accompanied attempts by governments to take over private land for infrastructure projects. India, Nepal, Indonesia, and the Philippines have all faced opposition to forcible land expropriation. Projects have been delayed by years or even canceled because of sometimes-violent opposition to land takeovers.
Read the transcript https://bit.ly/2APPPGU
Read the working paper https://www.adb.org/publications/land-acquisition-and-infrastructure-development-through-land-trust-laws
About the authors Saumik Paul is a senior economist at the Asian Development Bank Institute (ADBI). Naoyuki Yoshino is dean of ADBI. Vengadeshvaran Sarma is an economist at the University of Nottingham, Malaysia campus. Saloni Lakhia is a graduate student at the International Christian University.
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Girls now have more schooling on average than boys in the People’s Republic of China, reversing the age-old tradition of sons being better educated than daughters.
One driver of change is China’s rapid economic growth over the past several decades, which has raised female literacy and living standards, leading to females receiving more schooling. Government policies limiting families to just one child and requiring them to send all children to school are also major factors.
Kathleen McGarry and Xiaoting Sun of UCLA explain the factors contributing to the change in trend.
Read the transcript https://bit.ly/2QcPhW4
Read the working paper https://www.adb.org/publications/three-generations-changing-gender-patterns-schooling-prc
About the authors Kathleen McGarry is a professor and vice chair in the Department of Economics at UCLA and a research associate at National Bureau of Economic Research, Cambridge, Massachusetts. Xiaoting Sun is a PhD candidate in the Department of Economics at UCLA.
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Innovative financial services and improved ways of doing business have emerged on the back of the rapidly growing digital economy, a field that has been growing exponentially over the past 10 years.
The digital economy is extremely diverse, driving e-commerce, app stores, online advertising, online payment services, and cloud computing among a wide range of fields.
Because the digital economy operates in an environment lacking regulations, achieving fair taxation is a challenge. Wawan Juswanto and Rebecca Simms explain.
Read the transcript https://bit.ly/2rgYpdr
Read the policy brief https://www.adb.org/publications/fair-taxation-digital-economy
About the author Wawan Juswanto was a senior economist and Rebecca Simms was an associate at the Asian Development Bank Institute when the research was conducted.
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Small and medium-sized enterprises (SMEs) comprise 99% of nonfinancial businesses in the euro area and employ 67% of the total labor force. In Asia, they account for almost 98% of all businesses and employ about 66% of the workforce. These businesses are vital to a country’s economy.
To survive, most SMEs need external funding. The most important direct sources are credit lines, bank loans, and leasing. Funds are essential—but where are they? What can be done to help SMEs? Danilo Mascia of Nottingham University Business School investigates.
Read the transcript https://bit.ly/2QlSLEL
Read the working paper https://www.adb.org/publications/young-enterprises-and-bank-credit-denials
About the author Danilo Mascia is an assistant professor in banking at Nottingham University Business School, United Kingdom.
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Linking the People's Republic of China with Asia, Africa, and Europe by land and sea can be a win-win for China and its partner countries, if the trillions of dollars China plans to invest in infrastructure will benefit its partners, too. Jean François Gautrin of the Malaysian Institute of Economic Research explains.
Read the transcript https://bit.ly/2zk7ZjR
Read the report https://www.asiapathways-adbi.org/2018/03/one-belt-one-road-and-the-risks-behind-the-win-win-situation/
About the author Jean François Gautrin is an associate research fellow at the Malaysian Institute of Economic Research.
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More than 60% of adults in the Kyrgyz Republic do not have access to financial products and services, and many still prefer to keep their money under a mattress. While a quarter of the adult population have savings, only 3% have money saved in financial institutions.
Nor do people have much use for credit. Only 10.2% of adults have borrowed from a financial institution or used a credit card, a number that’s below global averages.
Lack of access to banks and credit keep the poor from escaping poverty because they don’t have the means to invest in a business, education, or even their own health.
Savia Hasanova describes recent developments in financial inclusion and financial literacy in the Kyrgyz Republic.
Read the transcript https://bit.ly/2A8BRiN
Read the working paper https://www.adb.org/publications/financial-inclusion-regulation-literacy-education-kyrgyz-republic
About the author Savia Hasanova is an economic expert at the Investment Round Table in the Kyrgyz Republic.
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Laws in developing countries generally reflect their unique cultures, which may restrict innovation and risk-taking, throwing obstacles in the path to development.
Strong legal mechanisms, including intellectual property rights and patent protection, allow innovation to thrive.
More than elsewhere in Asia, Southeast Asian countries emphasize the economic value of intellectual property rights on patents, but enforcement varies and so does their attraction for investors.
Douglas Cumming of the Schulich School of Business in York University and Sofia Johan of the Tilburg Law and Economics Centre of the University of Tilburg discuss the relationship between law and culture on innovation.
Read the transcript https://bit.ly/2RQL4DS
Read the working paper https://www.adb.org/publications/law-culture-and-innovation
About the authors Douglas Cumming is a professor and Ontario research chair of the Schulich School of Business, York University, Canada. Sofia Johan is an extramural research fellow of the Tilburg Law and Economics Centre, University of Tilburg, The Netherlands.
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In Chinese culture, as in most other cultures, whom you know is often more important than what you know, and social networks of relatives, friends, or local links are recognized as important to cultivate for help in job hunting, career promotion, or gathering and disseminating information.
In developed economies, it’s called “networking,” or informal exchanges of business cards and ideas with like-minded people in social settings.
In the Peoples Republic of China, and among the Chinese diaspora, it’s called “guanxi”—whom to call when something needs to be done, in an exchange of favors or potential influence—and it has long played a crucial role in facilitating informal credit activities.
Read the transcript https://bit.ly/2FkxZB7
Read the working paper https://www.adb.org/publications/social-networks-and-informal-inclusion-prc
About the authors Shijun Chai is a lecturer at Xinyang Normal University. Yang Chen is a lecturer at Xi’an Jiaotong-Liverpool University in Suzhou. Dezhu Ye is a professor at Jinan University in Guangzhou. Bihong Huang is a research fellow at the Asian Development Bank Institute.
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Scores of countries have fallen and are falling into the middle-income trap as they strive to develop. And, because of income inequality, aging populations, and a lack of growth impetus, some may never escape.
Of the world’s 199 countries and semi-sovereign economies, 88 are stuck in the middle-income trap: 20 are in Europe, 18 in North America, 16 in Asia, 15 in Africa, 11 in South America, and 8 in Oceania.
Chen Wang of Shanghai University of Finance and Economics and Jiajun Lan of the Wang Yanan Institute for Studies in Economics at Xiamen University describe the challenges middle-income countries face.
Read the transcript https://bit.ly/2AR7S0C
Read the working paper https://www.adb.org/publications/inequality-aging-and-middle-income-trap
About the authors Chen Wang is an assistant professor at the School of Urban and Regional Science, Shanghai University of Finance and Economics. Jiajun Lan is a PhD candidate at the Wang Yanan Institute for Studies in Economics, Xiamen University, People’s Republic of China.
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Timely and accurate credit information is critical to a well-functioning financial industry and essential for any government to maintain financial stability.
About a third of credit bureaus consider only negative data and provide an incomplete, and often inaccurate, assessment of a borrower’s risks. Governments should collect comprehensive data on each level of business in each sector. Data should also be made available to registries and bureaus to improve their abilities in providing public services, creating policy, and conducting statistical analysis, but individuals should be allowed to protect data from others.
These comprehensive data, paired with those from other sources, can present an accurate and complete description of an individual so financial services can be better tailored to suit individual needs.
Read the transcript https://bit.ly/2RIjhW5
Read the policy brief https://www.adb.org/publications/financial-inclusion-digital-age
About the authors Shawn Hunter is manager of inclusive finance at the Foundation for Development Cooperation. David Dole is senior capacity building and training economist at the Asian Development Bank Institute (ADBI). Valdimir dela Cruz was an associate at ADBI at the time this policy brief was written.
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Asia is becoming more integrated than ever before and so requires increased monitoring. While integration has increased overall, the movement of goods, services, and people across borders has grown unevenly across sectors and subregions. Policy makers need to be guided through the complex process to benefit from a smooth and successful integration.
Read the transcript https://bit.ly/2OfFoAT
Read the policy brief https://www.adb.org/publications/monitoring-regional-economic-integration-asia
About the authors Aladdin D. Rillo was senior economist at the Asian Development Bank Institute (ADBI) in Tokyo at the time this policy brief was written. Valdimir dela Cruz was an associate at ADBI at the time this policy brief was written.
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As the economies of these countries have diversified, their exports have increased to almost three times what they were 2 decades ago. But the gains have been intermittent—and countries need to do more to access Asian markets to boost export revenues further.
Businesses need to be able to ship more to export markets. Instead of maintaining trade barriers, governments should support them and help link them to buyers and distributors.
Those are some of the hurdles discussed in the policy brief by Wawan Juswanto and Zulfiqar Ali of the Asian Development Bank Institute.
Read the transcript https://bit.ly/2qhLxmv
Read the policy brief https://www.adb.org/publications/economic-growth-and-sustainable-development-pacific-island-countries
About the authors Wawan Juswanto is special advisor to the dean of the Asian Development Bank Institute (ADBI). Zulfiqar Ali was a research associate at ADBI at the time this policy brief was written.
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The gap between the rich and the poor in Viet Nam has narrowed, thanks to increased imports from the People’s Republic of China. Data collected from 2002 to 2014 show that lower-income groups benefited more than higher-income ones. Numerous studies show that international trade can fuel economic growth and that open economies are generally more prosperous than more protectionist ones. Apart from creating jobs, freer trade can raise living standards and bring down the prices of goods and services.
Read the transcript https://bit.ly/2AoRAvy
Read the working paper https://www.adb.org/publications/impact-import-competition-prc-income-inequality-household-welfare-viet-nam
About the authors Matthias Helble was senior economist and ADBI Research Department co-chair at the time the study was published. Trang T. Le is an assistant professor at the Banking Academy in Viet Nam. Trinh Q. Long is a project consultant at ADBI.
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Developing countries in Asia can leapfrog old fossil-fuel energy systems and promote the use of environment-friendly solar-power systems as their growing economies need more and more energy.
By 2050, 85% of the world’s estimated 9.7 billion people will live in emerging countries, and about 70% will live in cities, according to a United Nations report. Growing populations will lead to soaring energy demands in the mega-cities that will continue to sprawl.
Small-scale solar systems would be better for developing countries than big solar farms since they have less of an environmental impact and are more suited to the dense urban environments where the power is needed.
Read the transcript https://bit.ly/2JeCvj9
Read the working paper https://www.adb.org/publications/financing-solar-photovoltaic-transitions-utility-residential-market-adoption
About the authors Ranaporn Tantiwechwuttikul is a PhD candidate at the Graduate School of Frontier Sciences of the University of Tokyo. Masaru Yarime is an associate professor at the School of Energy and Environment of the City University of Hong Kong.
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Blockchain technology may be used to finance local renewable-energy projects. The technology, which basically acts as an electronic ledger, allows transactions to be carried out between parties without interference by third parties like banks. It creates trust as it assures investors that all recorded transactions are secure because the data are stored in multiple blocks and therefore difficult to manipulate.
Another way the combined approach can build trust is by ensuring that projects are evaluated by a third-party assessor, who then stores the findings in a project assessment database grounded on blockchain technology. The stored data cannot be changed.
Economist Farhad Taghizadeh-Hesary of Waseda University in Tokyo, ADBI Dean Naoyuki Yoshino, and economics graduate student Tim Schlober of the University of Bonn in Germany and Keio University in Tokyo explain the benefits of the financing scheme.
Read the transcript https://bit.ly/2pVzoDW
Read the blog post https://www.asiapathways-adbi.org/2018/07/trust-by-design-investment-a-novel-blockchain-based-approach-to-ease-green-energy-investments/
About the authors Farhad Taghizadeh-Hesary is an economist of Waseda University in Tokyo. Naoyuki Yoshino is dean of the Asian Development Bank Institute. Tim Schlober is an economics graduate student of the University of Bonn in Germany and Keio University in Tokyo.
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If you have a good story, you can change the world. If your story makes people laugh, you have an even better chance at success.
That’s the message of Jack Sim, who decided after a thriving business career to take on the issue of global sanitation. Expanding the use of toilets would help stop diseases spread by people defecating in the open. More toilets would also lead to more women going to school, since a lack of toilets is often a reason that girls don’t attend school.
In 2001, Sim began building the World Toilet Organization to promote sanitation by expanding the use of toilets. The United Nations has since recognized an annual World Toilet Day and through its World Toilet Summit and other initiatives, Sim’s organization continues to spread the word.
Read the transcript https://bit.ly/2IL6O0k
Watch the whole presentation https://bit.ly/2C6if1m
About the speaker Jack Sim is the founder of the Restroom Association of Singapore, the World Toilet Organization, the World Toilet Day initiative, and Bottom of the Pyramid Hub.
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Asia and the Pacific need to ensure not only that more people have access to financial products and services but also that the poor can wield them to build wealth.
While the Asia-Pacific Economic Cooperation or APEC broadly recognizes that financial inclusion is key to fighting poverty and meeting the Sustainable Development Goals, more needs to be done to improve financial inclusion.
Read the transcript https://bit.ly/2Oj0rHR
About the speakers Loi M. Bakani is governor of the Bank of Papua New Guinea. Nobuhide Hayashi is Mizuho Bank chair and a member of Japan’s APEC Business Advisory Council. Michelle Curry is CEO of the Foundation for Development Cooperation, Australia.
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The Republic of Korea could improve its citizens’ overall well-being by tackling inequality in the workforce that has left women falling behind their male counterparts.
A report by the Organisation for Economic Co-operation and Development points out that on many measures the country remains well behind other OECD countries when it comes to the treatment of women in the workforce. Randall Jones, head of the Japan and Korea desk at the OECD, spoke on the issue at the Asian Development Bank Institute.
Read the transcript https://bit.ly/2zMgrsM
About the speaker Randall Jones is head of the Japan and Korea desk of the Organisation for Economic Co-operation and Development.
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To be or not to be?
That is the question confronting Malaysia’s state-linked companies. Should the government sell its stake in them as they are embroiled in controversy after controversy?
The issue becomes starker because the country’s government-linked firms account for about half the benchmark Kuala Lumpur Composite Index, and they constitute 7 out of the top-10 listed firms in 2018.
Read the transcript https://bit.ly/2NiFXJM
Read the blog post https://www.asiapathways-adbi.org/2018/07/monsters-in-the-house-what-to-do-about-malaysias-government-linked-companies/
About the author Jayant Menon is a lead economist at the Economic Research and Regional Cooperation Department of the Asian Development Bank, Manila.
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The fast growth of a high-speed rail network in the People’s Republic of China has widened market access and boosted incomes. Expanding access to high-speed rail even further would help solve some of the country’s toughest problems.
Extending the network and improving access to it would benefit poorer parts of the country. The high-speed rail system has already helped offset some of the sharp divisions between rich and poor in China, a situation that often equates to an urban-rural divide.
High-speed rail expansion has also taken some of the pressure off cities that are struggling with overpopulation and pollution, by making it easier for those cities to spread to less congested areas and for other centers to grow.
Those are some of the conclusions of research done for the Asian Development Bank Institute that looked at the effects of the high-speed rail network on 110 cities in China.
Read the transcript https://bit.ly/2QVJH6Z
Read the working paper https://bit.ly/2V8Hb27
About the authors Wei Zou is a professor and director of the Institute for Advanced Study in Wuhan University in the People’s Republic of China. Liangheng Chen and Junke Xiong are associate researchers at the institute.
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Small and medium-sized businesses in the Republic of Korea lag well behind their bigger counterparts in productivity, and the gap is getting wider.
A recent report by the Organisation for Economic Co-operation and Development suggested that the problems for SMEs are deeply entrenched.
Randall Jones, head of the OECD’s Japan and Korea desk, explained the issues facing Korean SMEs at an event hosted by the Asian Development Bank Institute.
Read the transcript https://bit.ly/2OUpRb7
About the speaker Randall Jones is head of the Japan and Korea desk of the Organisation for Economic Co-operation and Development.
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The drop from peak oil prices is testing Azerbaijan’s economy and its people’s ability to adjust to a more modern financial system.
For the decade from 2006 to 2016, few economies were as dynamic as Azerbaijan’s. Petroleum reserves brought boom times and the economy grew by 35% in the year 2006 alone.
But the prosperity concealed a troubling undercurrent.
When oil prices began dropping beginning in 2014, Azerbaijan’s economic resilience was tested.
Read the transcript https://bit.ly/2xtRsJx
Read the working paper https://www.adb.org/publications/financial-inclusion-financial-literacy-and-financial-education-azerbaijan
About the author Gubad Ibadoghlu is a senior policy analyst at the Scientific-Research Institute at Azerbaijan State University of Economics, Baku.
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Big family business groups known as chaebol still dominate in the Republic of Korea, stifling the growth of other businesses and causing investors to look twice before putting money in the country.
These huge diversified companies led the country’s emergence but have since become a drag on its growth.
A recent report by the Organisation for Economic Co-operation and Development looked at the issue. Randall Jones, head of the OECD’s Japan and Korea desk, suggested some ways to fix the problem at an event hosted by the Asian Development Bank Institute.
Read the transcript https://bit.ly/2MLS95p
About the speaker Randall Jones is head of the Organisation for Economic Co-operation and Development’s Japan and Korea desk.
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By 2050, half the world’s population will live in Asia and the Pacific. Each year, Asian cities’ total population increases by as many as 44 million people. In their wake are millions of tons of solid waste.
The People’s Republic of China alone produces almost 150 million tons of waste every year, with the figure rising 8% to10% annually. India generates about 133,760 tons of solid waste per day, of which some 91,000 tons are collected and only around 26,000 tons treated.
Economist Farhad Taghizadeh-Hesary of Waseda University in Tokyo sums up the problem and the solution.
Read the transcript https://bit.ly/2O8qVaR
Read the post on ADBI’s blog https://www.asiapathways-adbi.org/2018/06/sustainable-funding-schemes-for-the-development-of-waste-management-projects-in-asia/
About the authors Naoyuki Yoshino is the dean of the Asian Development Bank Institute and professor emeritus at Keio University, Tokyo. Farhad Taghizadeh-Hesary is an assistant professor of economics, Waseda University, Tokyo.
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The Republic of Korea should hold off on increasing the minimum wage for a year or so while it considers the effect of past hikes.
That’s the recommendation of the Organisation for Economic Co-operation and Development. Randall Jones, head of the OECD’s Japan and Korea desk, explained why at an event hosted by the Asian Development Bank Institute.
Read the transcript https://bit.ly/2CJgklq
About the speaker Randall Jones is head of the Orgnisation for Economic Co-operation’s Japan and Korea desk
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Fifty years after Japan launched its high-speed railway line, there’s no denying it’s been a game-changer. Run by Japan National Railways, the shinkansen cuts travel time between historical economic centers and connects a network of cities. It’s the spine of one of the most important regional economic belt developments in the world. It’s spurred economic growth in the cities it serves and transformed the country’s economy to what it is today.
It’s no surprise other countries are looking at Japan’s experience in running bullet trains to make sure their huge investments will pay off in the long run.
High-speed rail hubs are among the most expensive infrastructure in the world, and the challenges and opportunities of setting them up vary from country to country. Almost all countries with bullet trains have reported a dynamic change in urban systems associated with the projects within only a few years of the railway’s inauguration.
Read the transcript https://bit.ly/2oIfEmE
Read the post on ADBI’s blog https://bit.ly/2VT2GBn
About the author Shreyas P. Bharule is an associate at the Asian Development Bank Institute. https://www.adb.org/adbi/about/staff-profiles/shreyas-bharule
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Outsourcing may mean bigger profits for companies seeking cheaper ways to produce goods and services, but it’s not all good news for the host countries.
For the countries in the South that welcome the factories of companies from the wealthier North, outsourcing comes with environmental costs.
The People’s Republic of China, considered the world’s factory, is an example. Since China joined the World Trade Organization in 2001, there has been an influx of companies moving their factories to the East Asian country. Attracted by the prospects of lower production costs and cheap labor, companies from the North outsourced production of garments, apparel, toys, footwear, tools, light machinery, electronics, and information technology products, among others, to China.
But producing huge amounts of such goods has damaged China’s air, water, and soil, triggering deforestation, desertification, and global warming, while seriously endangering public health. The damage to China’s environment was estimated at $230 billion in 2010, or 3.5% of the nation’s gross domestic product—three times the damage in 2004.
India, another country that welcomes outsourcing, has also seen similar damage to its environment. Industrial pollution has caused acid rain, damaging buildings, degrading the environment, and reducing crop yields. Wheat fields near a power plant produced 49% less than those 22 kilometers
Read the transcript https://bit.ly/2oHcAHp
Read the post on ADBI’s blog https://www.asiapathways-adbi.org/2017/12/international-outsourcing-environmental-costs-and-welfare/
About the authors Jai-Young Choi is a professor at the Department of Economics and Finance, Lamar University, Texas. Eden S. H. Yu is vice president and chair professor at the College of Business of Chu-Hai College of Higher Education in Tuen Mun, Hong Kong, China.
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Financial liberalization is typically associated with bringing benefits to emerging economies—cutting red tape, boosting growth, expanding trade, and creating jobs and opportunity. Is it just what China needs as the country’s leaders grapple with how to guide it to the next level?
Or would it bring with it added risks to China’s economy? And could those risks trigger a crisis?
Read the transcript https://bit.ly/2ok9jxy
Read the working paper https://www.adb.org/publications/will-financial-liberalization-trigger-first-crisis-prc-lessons
About the authors Qin Gou is an associate professor at the School of Finance, Central University of Finance and Economics. Huang Yiping is Jin Guang chair professor of economics and deputy dean of the National School of Development and director of the Institute of Digital Finance of Peking University. Both universities are in Beijing, the People’s Republic of China.
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Since at least the beginning of the 1990s, economists have noted that innovation is indispensable to competitive advantage. But what about for manufacturing? Conventional wisdom has long been hostile to altering proven production methods.
But this is changing. Take the example of the People’s Republic of China.
Twenty-two years after the government’s 1978 economic reforms, China’s global manufacturing output was one-quarter that of the United States. Eleven years later, China had eclipsed the United States to become the world’s greatest producer.
Explanations for this surge highlight abundant labor, state subsidies, and growing local demand. Yet those could be found elsewhere, not just in China. The explanation must go deeper.
Read the transcript https://bit.ly/2PGGFDb
Read the working paper https://www.adb.org/publications/innovation-and-firm-performance-prc-structural-approach-spillovers
About the author Anthony Howell is an assistant professor at the School of Economics of Peking University, Beijing, People’s Republic of China.
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For ambitious economies that have recently overcome historical economic obstacles and become stable and vibrant engines of growth, the question now is how to make growth sustainable and inclusive.
For the People’s Republic of China and India, innovation is now the key to their economic futures. Yet the legacies of their growth present troubling issues, chiefly environmental degradation. Both economies are also striving to avoid the middle-income trap that can, in the case of China, undermine sustainability or, in the case of India, undermine inclusiveness.
Although they share characteristics—a large population and territory, as well as a long history of civilization—they are different in important ways.
Read the transcript https://bit.ly/2OXSwvr
Read the working paper https://www.adb.org/publications/catching-economic-transition-innovation-prc-and-india
About the author Peilei Fan is an associate professor of urban and regional planning at Michigan State University, Michigan, USA.
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Electric utilities around the world are expected to be greatly transformed by deregulation, climate change, the rise of renewable energy, new technologies, declining populations, and changing user needs.
The transformation will eventually see the power grid’s integration with industries such as water, gas, transportation, among others, which ultimately could mean better service.
A factor driving the changes is the need to reduce greenhouse gas emissions. Electricity and heat production is among the biggest sources of emissions, which is why energy producers have been adding more renewable sources such as solar, wind, geothermal, hydropower, and biomass into their power mix.
Technology and changing demographics and user needs will also change utilities. Now that technologies can better track customers’ energy consumption, utilities will be able to predict when it is highest and ensure supply during those times.
Utilities’ transformation will come in three waves.
Read the transcript https://bit.ly/2Lg4AWG
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About the speaker Hiroshi Okamoto is executive vice president of Japan’s Tepco Power Grid.
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Asian economies and financial systems are becoming ever more integrated, but their monitoring has not kept pace and better safeguards are needed. This is especially true for cross-border issues.
Peter Morgan, co-chair of research at the Asian Development Bank Institute, says that Europe can provide a valuable guide to developing the necessary institutions in Asia.
Read the transcript https://bit.ly/2Mi3WII
Read the book https://www.adb.org/publications/global-shocks-and-new-global-and-regional-financial-architecture-asian-perspectives
Read the related blog post https://bit.ly/2Mv6cjP
About the author and book editors Peter Morgan is co-chair of research at the Asian Development Bank Institute. He wrote Regional Financial Regulation in Asia, a chapter in Global Shocks and the New Global and Regional Financial Architecture, Asian Perspectives, a new ADBI book, which he edited with ADBI Dean Naoyuki Yoshino and Pradumna B. Rana of the S. Rajaratnam School of International Studies, Nanyang Technological University, Singapore.
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Solar energy is growing fast as total capacity worldwide surges with the decline of solar-panel prices. It’s cheap and it works.
How to further reduce the price of solar panels has become an important topic as solar electricity’s share of the overall energy supply grows globally. Several studies have focused on manufacturing and technological developments as the main reasons behind the most recent drop in global solar-panel prices.
But a more recent study done for the Asian Development Bank Institute says that monetary variables, oil prices, and demand for solar panels due to environmental concerns also determine solar-panel prices.
Read the transcript https://bit.ly/2waSto2
Read the working paper https://bit.ly/3s6Nhx7
About the authors Farhad Taghizadeh-Hesary is assistant professor of economics at Waseda University, Tokyo. Naoyuki Yoshino is the dean of ADBI. Yugo Inagaki is an alumnus of Keio University.
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Asian emerging market economies adopted a range of measures after the Asian financial crisis in the late 1990s to shelter themselves from economic and financial contagion. So far, those moves have succeeded. But with new challenges rising, some of the tools they turned to may need readjusting so that they don’t cause more problems than they cure.
Hans Genberg, executive director of the Southeast Asian Central Banks Research and Training Centre, in Kuala Lumpur, Malaysia, suggests that, at the very least, more and better coordination is needed among various supervisory agencies. He also calls for an examination of whether central banks have taken on too much responsibility as their jobs have expanded.
Writing in a new Asian Development Bank Institute publication, Global Shocks and the New Global and Regional Financial Architecture, Asian Perspectives, Genberg suggests that Asian central banks went with a palette of solutions to the problems exposed by the Asian financial crisis.
Peter Morgan, co-chair of research at ADBI, is an editor of the book. He explains that emerging Asia’s response to the crisis helped it get through relatively unscathed during the 2008–2009 global downturn that followed about 10 years later.
Read the transcript https://bit.ly/2nleZ9X
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About the author and editors Hans Genberg is the executive director of the Southeast Asian Central Banks Research and Training Centre, Kuala Lumpur, Malaysia. The book editors are Peter Morgan, co-head of research at ADBI; ADBI Dean Naoyuki Yoshino; and Pradumna B. Rana of the S. Rajaratnam School of International Studies, Nanyang Technological University, Singapore.
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The People’s Republic of China’s integration into the global economy and East and West Germany’s reunification show the Democratic People's Republic of Korea — or the DPRK — how it might become a market economy within 20 to 25 years.
Naoyuki Yoshino, dean of the Asian Development Bank Institute, told the Foreign Correspondents Club of Japan that the DPRK could also look to the success of other Asian countries in using domestic savings to kick-start growth. Other key ingredients for a successful transition would be infrastructure development, education and training, as well as the promotion of student and worker exchanges between the DPRK and other countries.
The country could start with a postal savings network similar to those used in Japan and China, which would help start the process of building a financial system. From that, insurance and pension funds could be developed. The money that was deposited could be used for economic development.
Read the transcript https://bit.ly/2vK8AZH
About the speaker Naoyuki Yoshino is dean of the Asian Development Bank Institute.
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The People’s Republic of China’s gradual shift from a currency policy pegged to the US dollar to one that tracks the movements of a range of currencies was the correct choice given the challenges, and neighbors Malaysia and Singapore were best served by reacting in a similar way.
That’s the conclusion of research presented in Global Shocks and the New Global and Regional Financial Architecture, Asian Perspectives, a new book by the Asian Development Bank Institute.
The vulnerability of the currency regimes used in Asia came into focus after the Asian financial crisis of 1997–1998, when the many Asian countries that had pegged their currencies to the US dollar found they had opened themselves to significant economic and financial risks.
Since the crisis, countries have either chosen to let their currencies trade more freely against the dollar—Indonesia, Thailand, and the Republic of Korea, for example—or shifted to other methods that still retain significant control over the value of their currencies. One of the most popular of these is the basket peg, where the local currency moves in a range against a basket of currencies, rather than being pegged directly to the moves of a single one.
Read the transcript https://bit.ly/2vrdKcH
Read the book https://www.adb.org/publications/global-shocks-and-new-global-and-regional-financial-architecture-asian-perspectives
Read the related blog post https://bit.ly/2Mv6cjP
About the authors Naoyuki Yoshino the dean of the Asian Development Bank Institute. Tamon Asonuma is an economist in the Research Department of the International Monetary Fund. Peter Morgan is a co-head of research at ADBI.
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A brewing trade war over steel is threatening to bring the world back to the economic “dark ages” when countries used trade curbs to retaliate politically against rival governments.
The World Trade Organization and its members must find ways to ease tensions between rival countries and look for innovative ways to ensure global trade rules remain relevant and adaptive to the challenges of the present and the future.
It may mean revisiting the WTO and the role it can play in trade governance.
One of the reasons the WTO was formed was to make sure global trade is balanced and fair by isolating international trade from government intervention.
Revisiting the WTO has become urgent in the wake of US President Donald Trump’s decision to slap tariffs on steel imports to protect the United States’ national interest, which is purportedly endangered by dependence on imported steel.
The US acted before the WTO could consider its complaints of dumping, and the European Union and the People’s Republic of China are considering retaliatory tariffs.
Read the transcript https://bit.ly/2v5Z5nZ
Read the blog https://www.asiapathways-adbi.org/2018/04/impact-of-retaliatory-trade-enforcement-actions-on-the-world-trade-organization-and-trade-governance/
About the author Soo-hyun Lee is a research associate of International Law and Dispute Settlement at the Asian Institute of Policy Studies in Seoul, Republic of Korea.
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When India started opening its markets to international trade in the 1990s, what impact did it have on manufacturing and labor’s share of income? The answer lies in an analysis of plant-level data, which requires classifying industries as labor, human capital resource, or technology intensive. But first, what pushed India to open its doors?
Read the transcript https://bit.ly/2Ofyop5
Read the working paper https://www.adb.org/publications/adjustment-trade-opening-labor-share-india-manufacturing-industry
About the authors Prachi Gupta was a research associate at the Asian Development Bank Institute at the time the work was published. Matthias Helble a senior economist and co-head of research at ADBI.
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Energy price shocks—negative and positive—can have a powerful economic knock-on effect, especially on food prices where food is scarce. Even though great strides have been made since 1945 in feeding Asia’s huge populations, more than 500 million people still face food insecurity. Of the world’s undernourished, almost 65% live in Asia.
Food insecurity stems from the link between energy prices and food prices, among other causes.
A survey of Bangladesh, the People’s Republic of China, Indonesia, India, Japan, Sri Lanka, Thailand, and Viet Nam from 2010 to 2016 proposed a model with eight variables affecting agricultural food prices—land prices, GDP, inflation rates, oil prices, biofuel prices, employment in agriculture, labor costs, and real interest rates.
Farhad Taghizadeh-Hesary, one of the authors of ADBI’s research on this topic, sums up the survey’s findings.
Read the transcript https://bit.ly/2LPmZuB
Read the working paper https://www.adb.org/publications/volatility-linkages-between-energy-and-food-prices-asian-countries
About the authors Naoyuki Yoshino is the dean of the Asian Development Bank Institute. Farhad Taghizadeh-Hesary is an assistant professor of economics at Waseda University, Tokyo. Ehsan Rasoulinezhad is an assistant professor of economics at the University of Tehran, Iran.
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Recent financial crises have highlighted the need to update the global institutions for financial and economic oversight that were founded more than 70 years ago, and their Asian counterparts that have been developing over the last 20 years.
The evolution of financial markets and monetary policy makes it increasingly obvious that the coordination between organizations as well as the organizations themselves need to be better suited to modern reality. Peter Morgan, co-chair of research at the Asian Development Bank Institute, is one of the editors of a recent ADBI book, Global Shocks and the New Global and Regional Financial Architecture, Asian Perspectives, and an author of two of its chapters. The book investigates the issues and suggests possible remedies.
Read the transcript https://bit.ly/2L3tLAy
Read the book https://www.adb.org/publications/global-shocks-and-new-global-and-regional-financial-architecture-asian-perspectives
Read the related blog post https://bit.ly/2Mv6cjP
About the authors Peter Morgan is co-chair of research at the Asian Development Bank Institute. Pradumna B. Rana is associate professor at the Centre for Multilateralism Studies, S. Rajaratnam School of International Studies, Nanyang Technological University, Singapore.
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Asia and the Pacific have deepened economic integration through trade and foreign direct investment since the early 1990s. But financial market integration within the region has not progressed as quickly.
ADBI research examining cross-border portfolio assets and liabilities in Asia and the Pacific from 2001 to 2017 shows that rapid increases in portfolio foreign assets and liabilities have taken place, particularly after the global financial crisis of 2008–2009. The crisis and the subsequent unconventional monetary easing adopted by the United States, Europe, and Japan have affected the movement of cross-border portfolio capital flows in Asia and the Pacific. When the crisis started, portfolio investment flowed out of the region. Later on during the crisis, when advanced economies eased monetary policies, and after the crisis, a new wave of cross-border portfolio investment from the United States and Europe flowed into the region in search of higher yields.
ADBI researcher Eric Alexander Sugandi collaborated with ADBI visiting scholar Sayuri Shirai on the study. Sugandi summarizes their findings.
Read the transcript https://bit.ly/2Lekmp5
Read the working paper https://www.adb.org/publications/cross-border-portfolio-investment-financial-integration-asia-pacific-region
About the authors Sayuri Shirai is a visiting scholar at the Asian Development Bank Institute and former member of the Bank of Japan’s policy board. Economist Eric Alexander Sugandi, an ADBI consultant, formerly with Standard Chartered Bank, Citibank, and Bank Mandiri in Indonesia.
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Strong and consistent incentives and greater policy stability and coordination between levels of government are needed to engender green energy financing in New Zealand and Australia, according to the Asian Development Bank Institute.
New Zealand, on the face of it, looks impressive with a generating mix of over 80% renewables, but this is largely the legacy of state intervention in decades past and masks high per-capita greenhouse gas emission due to intensive agriculture. Much more could be done to encourage distributed generation (such as houses with rooftop solar panels) and electrification of transport.
Australia, however, still has a system dominated by coal, and although it has had more policies to promote renewables, their effect has been muted: renewables’ contribution stands at just 17%. The reasons: political instability and policy fragmentation between state and federal administrations. Commitment to energy transition is lacking across all parties and regulators.
Read the transcript https://bit.ly/2L0ZNsB
Read the working paper https://www.adb.org/publications/green-energy-finance-australia-and-new-zealand
About the authors Ivan Diaz-Rainey is co-director at the Otago Energy Research Centre and associate professor of finance at the Department of Accountancy and Finance, University of Otago, New Zealand. Greg Sise is managing director at Energy Link in Dunedin, New Zealand.
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The International Monetary Fund learned a thing or two from the 1997 Asian financial crisis, which helped it respond better to the 2008 global financial crisis.
Thanks to IMF assistance, troubled countries were in a better position to weather the global crisis. The IMF provided financing to more than 30 countries that saw investors and capital flee financial markets.
On average, IMF financing after the global crisis was larger than after the Asian crisis by more than 3 percentage points of gross domestic product. The IMF lent to countries beyond normal limits and increased the size of assistance in several instances when the initial amount wasn’t enough to curb capital outflow and stabilize exchange rates.
The bigger financing packages and other innovations it introduced from 2008 to 2011 showed the IMF had learned its lesson from the Asian financial crisis, when inadequate financing contributed to the failure of IMF programs to stop capital outflows and currency free-falls.
Read the transcript https://bit.ly/2uiB0JC
Read the working paper https://www.adb.org/publications/assessing-effectiveness-imf-programs-following-global-financial-crisis
About the authors Carlos De Resende is a senior economist at the Institute for Capacity Development of the International Monetary Fund. Shinji Takagi is professor emeritus of economics at Osaka University and visiting research professor at the Asian Growth Research Institute, Fukuoka, Japan.
Know more about ADBI’s work on the global financial crisis https://bit.ly/2m8OSlL https://bit.ly/2J6XC5e
China’s financial system is developing rapidly, swelling the country’s bank assets to become the largest in the world, and there are worrying similarities with the global dominance of Japan’s banks in the late 1980s.
Japan’s experience ended in tears with the bursting of a domestic and international financial and real asset bubble, heralding the economy’s descent into on-and-off recessions for the next 3 decades and stubborn deflation.
Research done for the Asian Development Bank Institute found that, despite the rapid development of capital markets since the 1990s, China’s financial system continues to be dominated by bank lending.
Read the transcript https://bit.ly/2z8u1sp
Read the working paper https://www.adb.org/publications/development-and-transformation-prc-financial-system
About the authors Damian Tobin is a lecturer on Chinese business and management at the School of Finance and Management, SOAS University of London. Ulrich Volz is head of the Department of Economics at the same institution.
Know more about ADBI’s work on the People’s Republic of China’s financial system: https://bit.ly/2KuB9o4 https://bit.ly/2lUj0BD
One of India’s major exports can readily be seen in computer science faculties, at information technology events, or among programmers and developers in most parts of the world—the IT professional.
India is a major global supplier of IT professionals, especially to Organisation for Economic Co-operation and Development member countries, but stricter immigration policies in countries, including the US and the UK in the wake of Brexit, may dent their job prospects, forcing an increased focus on the People’s Republic of China and Japan.
An Asian Development Bank Institute report by Anthony D’Costa of the University of Melbourne found the entire Indian IT industry is estimated to employ directly 2.5 million to 3 million people, with another 10 million or so indirectly in low-wage services.
But with much of the domestic industry focused on the lower end of the market, going abroad is one of the few attractive options for upward mobility.
Restrictive immigration policies mean this is not always feasible.
Read the transcript https://bit.ly/2KLIz2v
Read the report https://www.adb.org/publications/labor-migration-asia
About the author Anthony P. D’Costa is chair and professor, Contemporary Indian Studies Director, Development Studies Program, University of Melbourne, Australia.
Know more about ADBI’s work on labor https://bit.ly/2LYGzF5 https://bit.ly/2LYGKQL
Central banks and regulators should be on the frontline of fighting the carbon emissions driving climate change, and a more proactive approach can address the visible side effects in Asia, such as the annual choking smoke haze that envelops parts of the region.
Authorities should take account of climate risks as part of their duties of oversight, and “green finance” should play a major role in ensuring the investments needed to promote development are conducted in a sustainable fashion, says Ulrich Volz of the SOAS University of London.
Green finance is defined as all forms of investment or lending that consider environmental factors.
This is particularly important in Asian economies, including the Peoples’ Republic of China, where pollution and carbon emissions have been a significant brake on growth due to issues ranging from water and air pollution to higher healthcare costs.
Read the transcript https://bit.ly/2MoSr2A
Listen to the entire presentation https://bit.ly/2tsls6y
About the author Ulrich Volz is head of the Department of Economics, SOAS University of London.
Know more about ADBI’s work on climate change https://bit.ly/2MX4CVi https://bit.ly/2Kl4xck
Developing economies often lack sophisticated equity markets, meaning that firms that are focused on innovation must rely on bank lending. But tight bank policies can undermine the culture of innovation that is essential to growth.
Research conducted for the Asian Development Bank Institute concludes that deregulation creates a dynamic banking sector that, depending on the development stage, can either aid or hinder innovation.
The gradual deregulation of US banks over 20 years since 1970 is particularly instructive. During this period, some US banks responded to deregulation by making credit more available to out-of-state firms. Others consolidated locally by opening new regional branches.
Comparing the two patterns shows how extending credit markets aided innovation, while regional expansion generally hindered it.
Read the transcript https://bit.ly/2lAx1Uw
Read the report https://www.adb.org/publications/banking-and-innovation-review
About the authors Chen Lin is a professor at the University of Hong Kong. Sibo Liu is a PhD candidate at the University of Hong Kong. Lai Wei is an assistant professor at Lingnan University, Hong Kong, China.
Know more about ADBI’s work on banking https://bit.ly/2K8n5AH https://bit.ly/2K8ncfB
Businesses around the world need to pay closer attention to technology, design, branding, and other forms of intangible assets, if they want an edge over their competitors in keeping customers interested.
About a third of the value of goods manufactured globally comes from intangible capital, highlighting the need for businesses to protect the intellectual property of these types of assets to stay competitive.
This is among the findings of a new study from the World Intellectual Property Organization, titled 2017 World Intellectual Property Report—Intangible Capital in Global Value Chains.
The report looks at the role of intangible capital in global value chains, the range of activities needed to manufacture a product and deliver it to consumers.
Carsten Fink, chief economist of the World Intellectual Property Organization, says the study shows that the value of intangible capital amounted to $5.9 trillion in 2014, contributing twice as much as tangible capital.
Read the transcript https://bit.ly/2tk9qeh
Watch the presentation https://bit.ly/2K0hect
About the speaker Carsten Fink is chief economist of the World Intellectual Property Organization, Geneva, Switzerland
Know more about ADBI’s work on intellectual property https://bit.ly/2MEu2Hc https://bit.ly/2JW4Tpr
With aging becoming a pressing issue in many countries, especially in Asia, governments need better indicators that track the well-being of the elderly to craft policies to better meet the needs of the aged.
Many countries do not have the data needed for sound policy making, planning, and investment targeting, which leads to piecemeal public policies with little sense of priority.
The People’s Republic of China, Thailand, and Viet Nam are just some of the countries relatively unprepared to deal with their rapidly aging societies.
Multilateral and nongovernment organizations have developed several global aging indexes that focus on various aspects of aging and well-being.
Read the transcript https://bit.ly/2K4HQwe
Read the blog post https://www.asiapathways-adbi.org/2018/03/piecemeal-policy-approaches-to-aging-societies-can-they-be-avoided-with-proper-data-on-well-being/
About the author Claude Bodart is an international advisor at the Center for Ageing at the Beijing Normal University
Know more about ADBI’s work on aging in China https://bit.ly/2JRrsQg
World oil price volatility affects the economies of the Organization of Petroleum Exporting Countries as well as their non-OPEC counterparts, but little attention is paid to non-OPEC economies, which don’t have a formal bloc to lobby for them.
But non-OPEC energy exporters have taken a more significant role as oil demand has increased since the late 1990s. OPEC is no longer the main exporter, and the increased demand for oil, due in part to the rapid economic development of India and the People’s Republic of China, has led to a greater diversification of suppliers.
Research by the Asian Development Bank Institute looks at one of the largest non-OPEC oil-exporting countries, the Russian Federation.
Read the transcript https://bit.ly/2JB3Wmn
Read the report https://www.adb.org/publications/impact-world-oil-prices-energy-exporting-economy-including-monetary-policy
About the authors Victoriia Alekhina is a PhD candidate of economics at Keio University, Tokyo. Naoyuki Yoshino is dean of the Asian Development Bank Institute.
Know more about ADBI’s work on oil https://bit.ly/2MkPn8z
Fintech or, more fully, financial technology, is the buzz word in the startup world. But while the winners in this revolution are entrepreneurs and investors, there are clear benefits for the developing world.
According to a new book from the Asian Development Bank Institute, Labor Migration in Asia: Increasing the Development Impact of Migration through Finance and Technology, lowering the cost of remittances for Asian workers employed in other parts of the world will improve the overall socioeconomic outcomes of their countries of origin.
The research on the benefits of remittances is clear.
The United Nations Conference on Trade and Development says a 10% rise in remittances—that is, money sent home to the region by its expatriate workers—could lead to a 3.5% fall in the number of people living in poverty.
Read the transcript https://bit.ly/2JJJ0wZ
Read the report https://www.adb.org/publications/labor-migration-asia
About the event organizers and report editors Aladdin Rillo was with ADBI at the time of the event and organized the event. He worked with Jean-Christophe Dumont and Jonathan Chaloff, from the Organisation for Economic Co-operation and Development, and Nilim Baruah, from the International Labour Organization.
Know more about ADBI’s work on labor https://bit.ly/2LYGzF5 https://bit.ly/2LYGKQL
Headlines about the rebirth of a trans-Pacific trade pact in Santiago, Chile in March have concentrated on the absence of the United States from the 11-nation agreement, or the trade gains expected for each of its signatories.
But those aren’t the only issues at stake in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or TPP-11, signed among Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Viet Nam.
Other areas that may prove important include the aspects of the pact that deal with infrastructure investment and rules on capital flows and foreign investment. Grant Stillman, legal advisor to the Asian Development Bank Institute, explains what is at stake.
Read the transcript https://bit.ly/2sHpAy3
Read the blog post https://www.asiapathways-adbi.org/2018/03/next-generation-of-quality-development-and-investment-in-the-new-pacific-trade-pact/
About the speaker Grant Stillman is legal advisor to the Asian Development Bank Institute.
Know more about ADBI’s work on the Trans-Pacific Partnership https://bit.ly/2JisyAr
As parts of the developed world tighten foreign worker laws and maintain a hostile rhetoric against “immigrants” and “refugees,” a new report shows Asian migrant workers add economic value to their new countries.
US President Donald Trump is sending troops to the Mexican border to clamp down on unauthorized arrivals, and European leaders face a backlash for liberal migration policies, but Asian Development Bank Institute research debunks the myth that new migrants are a drain on the government’s coffers through welfare payments.
It suggests new arrivals in countries, including Australia, Canada, the US, and New Zealand, do integrate into society by finding jobs at no cost to established residents.
The report does not differentiate between the types of migrants, whether they be skilled, unskilled, or refugees, and focuses only on those born in Asia.
Read the transcript https://bit.ly/2Ln5Ash
Read the report https://www.adb.org/publications/labor-migration-asia
About the event organizers and report editors Aladdin Rillo was with ADBI at the time of the event and organized the event. He worked with Jean-Christophe Dumont and Jonathan Chaloff, from the Organisation for Economic Co-operation and Development, and Nilim Baruah, from the International Labour Organization.
Know more about ADBI’s work on labor https://bit.ly/2LYGzF5 https://bit.ly/2LYGKQL
Ghost cities full of empty apartment blocks are evidence of the central government’s failure to slow booming house construction in the People’s Republic of China.
Conflicting incentives for local government officials, and a lack of alternative investments in China, have meant even the toughest of restrictions haven’t been able to stop developers building ever more houses.
The housing industry is a big part of China’s economy. Real estate accounts for one-sixth of its GDP, a quarter of total fixed asset investment, 14% of urban employment, and 20% of bank loans.
Research done for the Asian Development Bank Institute finds that the central government has maintained a firm hand on the sector for the 20 years or so since widespread property ownership was first permitted.
Xiaping Cao of Lingnan College, Sun Yat-sen University, Bihong Huang of the Asian Development Bank Institute, and Rose Neng Lai of the University of Macau argued such a policy loosens or tightens various control measures depending on whether the government wants more or less growth in the sector.
Read the transcript https://bit.ly/2GXTvrb
Read the report https://www.adb.org/publications/impact-exogenous-demand-shock-housing-market-evidence-prc
About the authors Xiaping Cao is associate professor of finance at Lingnan College, Sun Yat-sen University. Bihong Huang is a research fellow at the Asian Development Bank Institute. Rose Neng Lai is a professor of finance at the University of Macau.
Know more about ADBI’s work on housing https://www.adb.org/adbi/research/housing-policy https://bit.ly/2seqsuK
A growth slowdown in the People’s Republic of China causing a decline in trade would be felt across Asia, with commodity exporters and trade partners closest to the country hit hardest.
Although the region’s dependence on trade with China has been expanding fast, the effects of such a slowdown would not be catastrophic, says a new book published by the Asian Development Bank Institute.
Read the transcript https://bit.ly/2x7Fyau
Read the book https://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asia
About the authors Peter Morgan is co-chair of ADBI’s Research Department. Fan Zhai is the former managing director of the China Investment Corporation.
About the book editors Peter Morgan is co-chair of the Research Department at the Asian Development Bank Institute. Justin Yi-fu Lin is director of the Center for New Structural Economics, Peking University, China. Guanghua Wan is director of the Institute of World Economy, Fudan University, China.
Know more about ADBI’s work on PRC https://bit.ly/2vVC0Yi https://bit.ly/2vQ3fDf
Domestic structural change is necessary if the People's Republic of China is to sustain economic growth of as high as 8% a year over the next 10 years.
Research published in an Asian Development Bank Institute book, Slowdown in the People’s Republic of China, Structural Factors and the Implications for Asia, found the worldwide trade slowdown that followed the global financial crisis in 2008 is mostly to blame for the recent decline in China’s growth rate.
Read the transcript https://bit.ly/2IH1aPj
Read the book https://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asia
About the book editors Peter Morgan is co-chair of the Research Department at the Asian Development Bank Institute. Justin Yi-fu Lin is director of the Center for New Structural Economics, Peking University, China. Guanghua Wan is director of the Institute of World Economy, Fudan University, China.
Know more about ADBI’s work on PRC https://bit.ly/2vVC0Yi https://bit.ly/2vQ3fDf
The bulk of Asia’s exports runs through, rather than to, the People’s Republic of China, leaving the region more exposed to downturns and anti-trade sentiments in developed countries than to a domestic slowdown in China.
Governments should promote domestic growth and trade within Asia to lessen that exposure, economists argue in a new book by the Asian Development Bank Institute, Slowdown in the People’s Republic of China, Structural Factors and the Implications for Asia.
Peter Morgan, co-chair of the research department at ADBI and one of the editors of the book, explains the conclusions of a paper by Willem Thorbecke of Japan’s Research Institute of Economy, Trade and Industry.
Read the transcript https://bit.ly/2KO2jD0
Read the book https://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asia
About the author Willem Thorbecke is a senior fellow at Japan’s Research Institute of Economy, Trade and Industry.
About the book editors Peter Morgan is co-chair of the Research Department at the Asian Development Bank Institute Justin Yi-fu Lin is director of the Center for New Structural Economics, Peking University, China. Guanghua Wan is director of the Institute of World Economy, Fudan University, China.
Know more about ADBI’s work on PRC https://bit.ly/2vVC0Yi https://bit.ly/2vQ3fDf
The nature of the People’s Republic of China’s growth slowdown is a key question for the global economy.
If it’s a bump in the road, growth in China should soon return to a high rate that can help support global growth. If it reflects deeper problems, the world may have to live without the contribution that has come to be expected from China’s hard-charging economy.
Economists must first determine the factors behind China’s growth, which poses statistical problems.
Read the transcript https://bit.ly/2rurpP7
Read the book https://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asia
About the author Harry X. Wu, professor at the Institute of Economic Research at Japan’s Hitotsubashi University.
About the book editors Peter Morgan is co-chair of the Research Department at the Asian Development Bank Institute. Justin Yi-fu Lin is director of the Center for New Structural Economics, Peking University, China. Guanghua Wan is director of the Institute of World Economy, Fudan University, China.
Know more about ADBI’s work on PRC https://bit.ly/2vVC0Yi https://bit.ly/2vQ3fDf
The People’s Republic of China needs to refocus its economy to avoid slipping into an economic downturn that could be worse than the one Japan has suffered for more than the past 2 decades. Comparing the experience of the two countries shows that China faces many of the same issues that prompted the beginning of Japan’s long economic slide in the early 1990s. While some differences could help China avoid Japan’s pitfalls, others could make it even worse.
Some economic fixes are needed, and quickly.
Read the transcripts https://bit.ly/2GhogH0
About the authors Yang Yao is a professor at China’s Peking University. Kyoji Fukao is a professor at Japan’s Hitotsubashi University. Tangjun Yuan is a researcher at China’s Fudan University.
Read the book https://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asia
Know more about ADBI’s work on PRC https://bit.ly/2vVC0Yi https://bit.ly/2vQ3fDf
Hundreds of thousands of children in Indonesia are growing taller and heavier thanks to the government’s rice subsidy program, which ensures better nutrition despite flaws in the scheme.
The government started RASKIN—rice for the poor—in 1998 to help poor and near-poor families cope with high food prices in the wake of the Asian financial crisis.
Under the program, currently the largest in-kind subsidy scheme in Indonesia, eligible households across the country receive subsidized rice.
Rice is a staple food, and accounts for nearly a quarter of the average monthly expenditure of poor households in Indonesia.
The program is expected to fulfill 39.5% of poor households’ rice needs.
Read the transcript https://bit.ly/2K2zrq7
Read the report https://www.adb.org/publications/kind-transfer-and-child-development-evidence-indonesia
About the authors Bihong Huang is an ADBI research fellow
Prachi Gupta was an ADBI research associate when the work was published.
Know more about ADBI’s work on Indonesia https://bit.ly/2qNSfjY https://bit.ly/2vvX1IA
Green bonds, which first appeared in 2007, finance projects that deliver environmental or climate benefits such as climate change mitigation and adaptation investments.
The global green bond market is rapidly growing, from $3 billion in 2012 to more than $100 billion in 2017.
The Nordic region, particularly Sweden, Norway, and Finland, has pioneered the issuance of green bonds and used specific mechanisms to access debt markets to issue green bonds.
These bonds could be used by developing countries in Asia.
The increase in recent years of the use of green bonds is a consequence of a wider awareness among investors of sustainability and climate change following the Paris Agreement on climate change in 2015 and the United Nations’ adoption of the Sustainable Developments Goals.
Read the transcript https://bit.ly/2v8q1G8
Read the working paper https://www.adb.org/publications/green-bond-experience-nordic-countries
About the author Darius Nassiry is a senior research associate at the Climate and Energy Programme, Overseas Development Institute, London, United Kingdom.
Know more about ADBI’s work on bonds https://bit.ly/2HvzHgI https://bit.ly/2ILj53H
Negative interest rates in Japan are leading banks, pension funds, and other investors to look overseas for better returns, but they are mostly ignoring developing Asia, and with rates rising in the US and Europe, that is unlikely to change.
Alicia Garcia-Herrero, a prominent economist who has worked at the International Monetary Fund and is now chief economist for Asia-Pacific at the French investment bank Natixis, told the annual conference of the Asian Development Bank Institute that investors were being driven from Japanese markets by the low rates used by the Bank of Japan to boost economic activity and end decades of deflation.
Read the transcript https://bit.ly/2EitXU4
Read the book https://www.adb.org/publications/implications-ultra-low-and-negative-interest-rates-asia
Know more about ADBI’s work on interest rates https://bit.ly/2GxboBs https://bit.ly/2uL2KKq
Ultra-low or negative interest rates in Japan, the United States, and Europe placed a difficult burden on other central banks and may threaten their independence in the future.
Veerathai Santiprabhob, governor of the Bank of Thailand, told the annual conference of the Asia Development Bank Institute that, with interest rates low, central banks have taken to using macroprudential tools.
They are tinkering with regulations to affect the actions of markets, investors and consumers, and adjusting rules to control the flow of capital through their borders.
Read the transcript https://bit.ly/2I5Z3kb
About the speaker Veerathai Santiprabhob is governor of the Bank of Thailand.
Watch the whole presentation https://youtu.be/1xE2LEPE8Qw?t=142
Read the book https://www.adb.org/publications/implications-ultra-low-and-negative-interest-rates-asia
Know more about ADBI’s work on finance https://bit.ly/2DYo5zi https://bit.ly/2GykwFb
Central banks are running out of wiggle room, having lowered interest rates, in some cases to zero or negative, and are losing influence over markets becoming accustomed to a low-rate regime.
“Forward guidance” is losing traction.
Narayana Kocherlakota, former president of the Minneapolis Federal Reserve Bank, says central banks can try to guide public perception by hinting at their intentions, a practice known as forward guidance in banking circles, and he used to think that once interest rates were at the lowest they could go—a position called the lower bound—forward guidance was a good tool to use.
But Kocherlakota, now professor of economics at the University of Rochester, told the annual conference of the Asian Development Bank Institute he has changed his mind.
Read the transcript https://bit.ly/2pKGfQI
About the speaker Narayana Kocherlakota is a now professor of economics at the University of Rochester.
Watch the whole presentation https://youtu.be/BKnJS37KbGE?t=2420
Read the book https://www.adb.org/publications/implications-ultra-low-and-negative-interest-rates-asia
Know more about ADBI’s work on finance https://bit.ly/2DYo5zi https://bit.ly/2GykwFb
Global governance has undergone significant change since the late 1990s, with the number of global players in health, trade, and development finance rapidly increasing, mobilizing more funds for health and development in developing countries, and spurring global trade.
This trend has challenged the three most prominent intergovernmental bodies in these areas—the World Health Organization, the World Trade Organization, and the World Bank.
They now need to adapt to a new world order where they play a less central role.
After World War II, governments around the world forged international agreements and treaties, forming global bodies to promote international good in almost every social sphere.
In 1944, the World Bank’s predecessor, the International Bank for Reconstruction and Development, was established to help rebuild economies devastated by the war.
Three years later, the General Agreement on Tariffs and Trade, which over time evolved into the WTO, was formed. The WHO was set up soon after in 1948 as the United Nations’ specialized agency for health.
But in the 1990s, new actors—nonstate and nongovernment organizations—emerged, challenging the authority of the WHO, the WTO, and the World Bank, says Matthias Helble, senior economist and co-chair of the research department at the Asian Development Bank Institute.
Read the transcript https://bit.ly/2ue7k3l
Read the working paper https://www.adb.org/publications/comparison-global-governance-across-sectors-health-trade-development-finance
About the authors Matthias Helble is senior economist and co-chair of the Research Department at the Asian Development Bank Institute.
Jera Lego is an ADBI associate.
Zulfiqar Ali was an ADBI associate at the time the research was published.
Know more about ADBI’s work on Trade https://bit.ly/2oTzgng https://bit.ly/2D3NTJH
Health https://bit.ly/2pxdEyb https://bit.ly/2HVr2CZ
Big swings in global commodity prices unnerve governments in developing countries reliant on such export revenue, and curb credit growth as banks tighten lending during price volatility.
A look at 1,600 banks from 78 developing countries between 2004 and 2015, a period of large swings in commodity prices, found lenders become more cautious when prices fluctuate because clients may not be able to service loans, eroding the quality of bank assets and capital.
Banks with relatively lower deposits and poor asset quality are particularly vulnerable to commodity shocks and tend to be more aggressive in responding to price movements.
Similarly, banks that are more sensitive to fluctuations in commodity prices, and see a decline in deposit funding and an increase in bad loans in response to a fall in commodity prices, reduce credit supply when asset quality falls.
The data shows that a bank with high exposure to commodities and low deposits curbs lending by as much as 4.1 percentage points when commodity prices fall below expected trends, more if the fall deepens.
Read the transcript https://bit.ly/2G4VR7O
Read the working paper https://www.adb.org/publications/international-commodity-prices-and-domestic-bank-lending-developing-countries
About the authors Isha Agarwal is a PhD student at Cornell University, United States.
Rupa Duttagupta is chief of the Emerging Markets Division, International Monetary Fund.
Andrea F. Presbitero is an economist at the IMF and assistant professor in economics at the Università Politecnica delle Marche, Ancona, Italy.
Know more about ADBI’s work on Commodities https://bit.ly/2pBo7Yu
Credit https://bit.ly/2FW1n0n
Water may be saved through trade provided it moves from countries that use water wisely to those lacking water, as a coming water crisis—driven by climate change, neglect of infrastructure, and misguided policies—threatens global economic growth in countries struggling to develop, and in developed countries.
Savings don’t refer to the volume of virtual water of the imported product, but to the volume of water the importers would have required to produce the same quantity of product. Globally, savings represent on average 10% of the 352 cubic kilometers of global freshwater used each year.
Most virtual water goes into agricultural exports rather than industry, and is heavily subsidized to make them competitive. There is no recognized way to price water, so it reflects demand and supply, and water, both surface and groundwater, is underpriced. The reality is that water resources are becoming more expensive to exploit, and this is not reflected in the price of a final product.
Read the transcript http://bit.ly/2IqaFzt
Read the book https://www.adb.org/publications/win-win-how-international-trade-can-help-meet-sdgs
About the speaker Alexandre le Vernoy is a consultant at Groupe d’Economie Mondiale.
Know more about ADBI’s work on trade http://bit.ly/2oTzgng http://bit.ly/2D3NTJH
Laws in developing countries generally reflect their unique cultures, which may restrict innovation and risk-taking, throwing obstacles in the path to development. Strong legal mechanisms, including intellectual property rights and patent protection, allow innovation to thrive.
More than elsewhere in Asia, Southeast Asian countries emphasize the economic value of intellectual property rights on patents, but enforcement varies and so does their attraction for investors.
Beyond legal mechanisms, innovation centers stimulate growth and innovation.
Government-protected technology parks link universities and state companies, and investors know they have a degree of security and won’t have problems down the line. Innovation comes from a meeting of minds, and while there is a risk that specific research may lead nowhere, it’s outweighed by the potential profit from unanticipated spin-off results.
The more freedom a country gives its enterprises, the more innovation it could produce.
The People’s Republic of China and India offer a curious comparison.
Read the transcript http://bit.ly/2ImPGxn
Read the working paper https://www.adb.org/publications/law-culture-and-innovation
Read the blog post http://bit.ly/2FAwIpe
About the authors Douglas Cumming is a professor and Ontario research chair of the Schulich School of Business, York University, Canada
Sofia Johan is an extramural research fellow of the Tilburg Law and Economics Centre, University of Tilburg, The Netherlands
Know more about ADBI’s work on innovation http://bit.ly/2FL75Ov http://bit.ly/2FLuyPW
China’s 2009 economic stimulus program after the global financial crisis led to the growth of shadow banking as local governments scrambled to pay off their obligations under the program.
Regulators loosened borrowing rules to avoid a debt crunch, posing risks to the financial system, but in doing so accelerated China’s financial liberalization.
Asian Development Bank Institute research details the unintended effects of the four-trillion-yuan stimulus plan launched to insulate China’s economic growth from the global financial crisis.
Much of the responsibility for funding the stimulus fell on local governments.
They mostly took on bank loans to pay for the infrastructure projects that formed the bulk of the stimulus plans.
It could take decades for those projects to start paying returns, but the loans came due after about four years on average, leaving local governments searching for ways to service their debts while keeping the stimulus going.
Read the transcript: http://bit.ly/2FZnwrr
Read the working paper https://www.adb.org/publications/financing-local-government-prc-stimulus-loan-wanes-shadow-banking-waxes
About the authors Zhuo Chen is an assistant professor at the PBC School of Finance, Tsinghua University Beijing, People’s Republic of China (PRC).
Zhiguo He is professor of finance at the Booth School of Business, University of Chicago, and NBER, Chicago, US.
Chun Liu is associate professor of finance at the School of Economics and Management, Tsinghua University, Beijing, PRC.
Know more about ADBI’s work on banking in the People’s Republic of China http://bit.ly/2Fj4XBu
A coming water crisis, driven by climate change, neglect of infrastructure, and misguided policies, is threatening global economic growth in countries struggling to develop, and in developed countries, too.
The water crisis is partly due to climate change and the increasing unpredictability of weather, but a lot has to do with the behavior of global trade, trade policies, and institutions that believe water is inexhaustible.
It is not.
By 2050, global demand for water will have risen by 55% from current levels, and wastewater discharges of growing urban populations will increase nitrogen effluents into rivers and seas by 180%—almost triple—compared with today’s rates, creating severe water stress that will affect the livelihoods of 4 billion people.
Alexandre le Vernoy, a consultant at Groupe d’Economie Mondiale, identifies four major concerns about water: scarcity aggravated by climate patterns, declining water quality, weak management and regulations, and infrastructure gaps that make it hard to get water to where it is most needed.
Read the transcript http://bit.ly/2Fxu1nu
Read the chapter http://bit.ly/2EmIRg0
About the speaker Alexandre le Vernoy is a consultant at Groupe d’Economie Mondiale.
Know more about ADBI’s work on trade http://bit.ly/2oTzgng http://bit.ly/2D3NTJH
Developing countries can benefit from globalization if they fix potential problems at home before opening their economies. Failing to do so can multiply local problems as money streams across borders, suggests ADBI research. For a number of reasons, developing countries might end up worse off if they allow their currencies to float freely and remove controls on money flowing in and out of their country before putting in place strong financial foundations.
Economists generally agree that imposing controls on capital flows acts as a tax on an economy. Those controls can make it harder for companies to find investors and for local investors to seek better returns for their money.
What’s more, greater integration into the global financial system means a developing economy is less exposed to any volatile growth swings at home.
Read the transcript http://bit.ly/2ozkJha
Read the working paper https://www.adb.org/publications/managing-financial-globalization-guide-developing-countries
Read the blog post http://bit.ly/2GtrUiC
About the author Shang-Jin Wei is a professor at Columbia University’s School of International and Public Affairs and Graduate School of Business.
Know more about ADBI’s work on global finance http://bit.ly/2FGnWmH http://bit.ly/2owtvww
Peer-to-peer or P2P lending is a way of financing debt online so that people can borrow and lend money without going through a financial institution, like a bank. P2P, also known as social lending or crowd lending, has no need for a middleman and has emerged as an alternative to traditional lending institutions around the world.
An Asian Development Bank Institute study using data from Renrendai, one of the largest P2P lending platforms in the People’s Republic of China, found something interesting about the use of punctuation marks in P2P lending.
Who would have thought that the number of punctuation marks used in borrowers’ text could influence funding probability, borrowing rate, and default of loans in the peer-to peer lending market?
Read the transcript http://bit.ly/2HVBmM7
Read the working paper https://www.adb.org/publications/role-punctuation-p2p-lending-evidence-prc
About the authors Xiao Chen is a PhD student at Jinan University, People’s Republic of China.
Bihong Huang is a research fellow at ADBI.
Dezhu Ye is a professor of finance at Jinan University.
Know more about ADBI’s work on peer-to-peer lending http://bit.ly/2GTNFqP
Analysts and economists explain:
How India’s government pushes for more urbanization by creating towns that will grow along with information technology. Read the transcript: http://bit.ly/2j6m649
What emerging economies can learn from South Korea, and how it weathered the Asian financial crisis and came out of it even stronger. Read the transcript: http://bit.ly/2G4YerO
How corruption and weak national institutions can undermine food security in countries big and small, regardless of their natural resources. Will the world’s two most populous countries—China and India—be able to feed their people when food consumption is expected to go up by 50% in the next decade? Read the part 1 transcript: http://bit.ly/2mlGPBN Read the part 2 transcript: http://bit.ly/2mkgrbJ
How the numbers on global trade imbalance don’t really give us the full picture. Read the transcript: http://bit.ly/2z9Kn1E
And how longer life expectancy in China is widening the growing gap between rich and poor. Read the transcript: http://bit.ly/2G2TeUs
Know more about ADBI’s work from ADBI.org. https://www.adbi.org
Providing total and improved sanitation services is a challenge across Asia, as population growth—up 5.7% on average in the past two decades—overwhelms existing infrastructure and outpaces planning. In Central Asia, South Asia, East Asia, and Southeast Asia, 1.7 billion people do not have access to safe sanitation, 780 million still practice open defecation, and 80% of waste water is dumped without proper treatment.
The region needs to invest more than $71 billion to provide sanitation services to all.
Countries in Asia and the Pacific can learn from the Republic of Korea and Malaysia about how to improve sanitation services, improve water quality and availability, broaden sanitation and strengthen governance, establish institutional mechanisms, and implement city-wide planning—all of which spur economic growth.
Korea and Malaysia have harnessed innovative sanitation systems and involved the private sector in identifying projects that provide maximum coverage for communities. They have also put together sanitation projects funded by both the public and private sectors.
Vedanti Kelkar, a capacity building and training associate at the Asian Development Bank Institute, explains the economic benefits of such a strategy.
Read the transcript http://bit.ly/2F3wsLV
Read the blog post http://bit.ly/2HgHdv5
About the author Vedanti Kelkar is a research associate at the Asian Development Bank Institute https://www.adb.org/adbi/about/staff-profiles/vedanti-kelkar
Listen to another episode on sanitation http://bit.ly/2GeHeP7
Know more about ADBI's work on urbanization and sanitation http://bit.ly/2ClVQcX
Small and medium-sized enterprises are the backbone of Asia’s economies.
The Asian Development Bank’s most recent SME survey covered 20 countries in Central, East, South, Southeast Asia, and the Pacific and showed that SMEs accounted for an average of 96% of all enterprises and 62% of the national labor force.
SMEs contributed an average of 42% of the gross domestic product or manufacturing value added in these countries, and continued to influence trade.
The latest data show that SMEs in the People’s Republic of China and India accounted for more than 40% of total export value, followed by 26% in Thailand, 19% in the Republic of Korea, and 16% in Indonesia.
Yet their development is hindered because of the difficulty accessing affordable credit.
Read the transcript http://bit.ly/2CbsUEl
Read the working paper https://www.adb.org/publications/solutions-smes-difficulties-accessing-finance-asian-experiences
About the authors Naoyuki Yoshino is dean of ADBI
Farhad Taghizadeh-Hesary is an assistant professor of economics at Keio University, Tokyo
Know more about ADBI’s work on SMEs http://bit.ly/2ElPHnb http://bit.ly/2CdtNwf
Related Podcast http://bit.ly/2H6cRLR http://bit.ly/2tZS4mU
Basic household sanitation has long been outside the reach of cost-effective comprehensive solutions, especially in communities dependent on septic rather than sewage systems. But this is changing.
Groups as varied as the Bill & Melinda Gates Foundation and a coalition of private-sector water technology interests are attacking the problems of fecal sludge management, or FSM, particularly in underserved communities.
Thanks to innovative products and platforms and the collaboration of the Asian Development Bank Institute, the technology that moves water to bathrooms, taps, and kitchens worldwide is within reach of communities that don’t have complex and costly sewage systems.
David Robbins, a specialist in on-site and decentralized wastewater management, found that FSM’s efficiency and effectiveness—the hallmarks of modern sewerage systems—can now be used to attract the private sector into a fledgling sanitation economy that can overcome the many political roadblocks faced by communities without sewers.
Read the transcript http://bit.ly/2Bbv7mC
Watch the full presentation https://www.youtube.com/watch?v=87p35v-I2pA
About the speaker David Robbins is a specialist in on-site and decentralized wastewater management, with an emphasis on fecal sludge management.
Recent demographic and societal changes in both developing and developed countries have affected the employment of migrant workers in economies worldwide, and few sectors illustrate the international impact of these changes more than domestic work and home-based care.
An increase in women’s employment, rapid population aging, increasing life expectancy, and lower fertility rates have strained traditional care arrangements in the developed and developing world.
But tight fiscal policies have weakened already inadequate public services and protection for these migrant workers, who leave their families and homes for decades at a time to work overseas in hope of earning more money to send back home.
Read the transcript http://bit.ly/2EkbKHA
Read the working book https://www.adb.org/publications/safeguarding-rights-asian-migrant-workers-home-workplace
About the authors Maria Gallotti is a migration specialist at the International Labour Organization (ILO), Geneva.
Benjamin Harkins is a technical officer at ILO, Bangkok.
Marie-Jose Tayah is the regional coordinator for the Middle East and North Africa at the International Domestic Workers Federation.
Max Tunon is a migration specialist at ILO, New Delhi.
Know more about ADBI’s work on labor http://bit.ly/2DLwDxy
Women who own small businesses are increasingly turning to digital platforms to source capital for growth as they battle discrimination from formal channels.
Small and medium-sized enterprises consistently cite access to credit as the biggest constraint on growth and trade, and a 2016 survey commissioned by the Asian Development Bank confirmed that export firms headed by women reported greater difficulties getting finance than other trading firms.
Globally, 10.1% of all formal-sector firms are led by women and only 3% in Asia and the Pacific.
Banks are less likely to extend credit to SMEs as they tend to apply for smaller loans, have poorer financial documentation than big firms, and lack collateral, which banks say make it difficult for financial institutions to profitably assess risk and offer finance.
Read the transcript http://bit.ly/2EiKdpS
Read the working paper https://www.adb.org/publications/women-and-trade-gender-impact-trade-finance-and-fintech
About the authors Alisa DiCaprio was a research fellow at ADBI at the time the research was conducted
Ying Yao is a postdoctoral researcher at Hitotsubashi University, Tokyo
Rebecca Simms was a research associate at ADBI at the time the research was conducted.
Know more about ADBI’s work on women and the economy http://bit.ly/2n8Pl8u
Emerging economies can learn a lot from how the Republic of Korea faced down the financial crises of 1997 and 2008, and emerged from hard economic slowdown stronger than ever.
Painful macroeconomic and financial reforms plugged structural weaknesses and restored investor confidence, and have put Korea in a better position to weather similar shocks, offering lessons for emerging Asian economies.
Read the transcript http://bit.ly/2G4YerO
Read the working paper https://www.adb.org/publications/twenty-years-after-financial-crisis-korea
About the author Jong-Wha Lee is a professor of economics and director of the Asiatic Research Institute at Korea University.
Know more about ADBI’s work on the Republic of Korea http://bit.ly/2B7KmJz
An already widening gap between rich and poor in the People’s Republic of China is likely to worsen due to its rapidly aging population.
Increasing life expectancy and the effect of a decades-long family planning policy that limited the number of children people could have is felt throughout the economy.
At the end of 2011, the number of people over 60 years old in the PRC reached 185 million or 14 percent of the population. By 2030, the PRC is expected to become the world’s most aged society, and by 2050, the number of elderly people is forecast to climb to 454 million, or 33 percent of the total population.
Read the transript http://bit.ly/2G2TeUs
Read the working paper https://www.adb.org/publications/population-aging-and-inequality-evidence-prc
About the authors Xudong Chen is a professor at the School of Business, Department of Finance and Accounting, Baldwin Wallace University. Bihong Huang is a research fellow at ADBI. Shaoshuai Li is a PhD candidate at the University of Macau.
Know more about ADBI’s work on aging http://bit.ly/2DFpsnS
Robust institutions and low levels of corruption are more important to reducing hunger than population size or the state of a country’s natural resources.
Food security—the ability of a country to feed its people—will become even more important in coming years as Asia’s population rises and resources grow scarcer.
A study of 10 countries in Asia and the Middle East found that food security grows alongside the development of political democracy, economic growth, strong judicial systems, and other institutions.
Asia will need to produce more food despite resources that are already limited and will be even more stretched as populations grow.
While environmental issues, including climate change, are tough challenges, institutional reform is the most important step for countries in the region seeking food security for their people.
Read the transcript http://bit.ly/2mlGPBN
Read the book https://www.adb.org/publications/food-insecurity-asia-why-institutions-matter
Read the summary https://www.adb.org/publications/at-a-glance-food-insecurity-asia-why-institutions-matter
About the editors Zhang-Yue Zhou is a professor at the College of Business, Law and Governance, James Cook University, Australia.
Guanghua Wan is an economist at the Asian Development Bank, Manila.
Know more about ADBI’s work on food security http://bit.ly/2mfu0cb
India and the People’s Republic of China must act quickly if they are to have enough to eat over the coming decades.
For the PRC, the biggest challenges come before 2030, when its population is expected to peak, then decline.
India, which will take over the mantle of the world’s most populous country around that time, will see its food needs continue to grow for decades after that, especially if it manages to ease the poverty that now afflicts one in five of its people.
The outcome of the efforts in the PRC and India will have consequences for the food supply of Asia and the rest of the world. Their success in meeting their food needs will be especially important to other countries having difficulty feeding their own populations.
Read the transcript http://bit.ly/2mkgrbJ
Read the book https://www.adb.org/publications/food-insecurity-asia-why-institutions-matter
Read the summary https://www.adb.org/publications/at-a-glance-food-insecurity-asia-why-institutions-matter
About the editors Zhang-Yue Zhou is a professor at the College of Business, Law and Governance, James Cook University, Australia.
Guanghua Wan is an economist at the Asian Development Bank, Manila.
Know more about ADBI’s work on food security http://bit.ly/2mfu0cb
It can be hard to measure the effects of infrastructure investment on an economy. Knowing whether an investment worked means somehow identifying the revenue it generated amidst the noise of an economy in full swing.
An Asian Development Bank Institute study used tax revenue as a measure of growth, and found significant contributions generated by the construction and operation of the line and the eventual connection of Japan’s southern-most island to the larger network of high-speed trains known as shinkansen, linking Kyushu with Osaka and Hiroshima on Japan’s largest island of Honshu.
Read the transcript http://bit.ly/2BiskIz
Read the working paper https://www.adb.org/publications/impact-infrastructure-investment-tax-estimating-spillover-effects-kyushu-high-speed
About the authors Naoyuki Yoshino is the dean of the Asian Development Bank Institute (ADBI) https://www.adb.org/adbi/about/dean
Umid Abidhadjaev is a project consultant on infrastructure at ADBI
Know more about ADBI’s work on spillover effects http://bit.ly/2hGyAlm
Trade deficits are considered bad news for economies, and for an economy the size of the United States, a deficit of $745 billion in 2015, the largest seen in decades, would be cause for alarm.
But the true picture is more complex.
Looking beyond traditional statistics shows how burgeoning global value chains are now driving changes in the manufacturing of, trade in, and value of goods.
Multinational corporations that have successfully leveraged global value chains have pivoted away from manufacturing and now concentrate more fully on marketing, design, and innovation.
Apple, Nike, Reebok, the Limited, and the Gap are major players in consumer electronics, athletic footwear, and fashion-oriented apparel, but own not a single production facility in the United States. With the exception of Apple, none of them owns production facilities anywhere in the world.
Official statistics have yet to catch up with new trade realities emerging from global value chains. Although the gross profit margins of the Apple iPhone exceed 60 percent and that of Nike products is more than 45 percent, this value is not shown in US export metrics.
Read the transcript http://bit.ly/2z9Kn1E
Read the working paper https://www.adb.org/publications/global-value-chains-and-missing-exports-united-states
About the author Yuqing Xing is a professor of economics and the director of Asian economic policy at the National Graduate Institute for Policy Studies, Tokyo.
Know more about ADBI’s work on international trade http://bit.ly/2AC03x0
Brexit and a potential US withdrawal from the North American Free Trade Agreement could have large ripple effects on trade in Asia, helping some countries and hurting others, according to prominent trade economist Ben Shepherd. What’s more, Asia’s tightly integrated supply chains could be disrupted in the aftermath.
Shepherd told a seminar at the Asian Development Bank Institute that although the UK’s withdrawal from the European Union and a potential US pullout from NAFTA seem remote from Asia, any effects on trade flows will be keenly felt in the region.
The trading system is a great example of a global, closed, integrated network, meaning if you change something somewhere, you change everything everywhere. These distant trade policy changes are important for Asia, even though we are geographically distant from that going on.
Read the transcript http://bit.ly/2A8aN6p
Watch the complete presentation http://bit.ly/2At679W
About the speaker Ben Shepherd is a principal at Developing Trade Consultants.
Know more about ADBI’s work on globalization http://bit.ly/2A5PuCh
Improved transportation links help communities prosper financially, but there’s an unexpected social dividend that can compound that prosperity—lower rates of smoking and drinking and higher levels of school attendance.
The Philippine government started its “Ro-Ro” policy in 2003 to link up islands and other remote areas in the archipelago nation with a system of roll-on, roll-off ferries.
Family incomes grew around the ports, with agricultural workers picking up non-farm work and farmers on islands around the ports able to increase their incomes through better access to markets and inputs to improve their farms. Altogether family incomes around the ports grew by about 4%.
The increased access to jobs and rising incomes had an unexpected social impact—less smoking and drinking and more kids in school.
Read the transcript http://bit.ly/2ASDMum
Read the working paper https://www.adb.org/publications/impact-improved-transport-connectivity-income-education-health-philippines
About the authors Kris Francisco was a research associate at the ADB Institute at the time of writing
Matthias Helble is senior economist and co-chair of the Research Department at ADBI. https://www.adb.org/adbi/about/staff-profiles/matthias-helble
Know more about ADBI’s research on Transport: http://bit.ly/2zORvP6 The Philippines: http://bit.ly/2BKNRqM
Urban areas contribute nearly two-thirds of India’s gross domestic product, even though they account for only 31 percent of the country’s population. They are India’s growth engines.
More remarkable is that India leapfrogged the manufacturing revolution and transitioned from agriculture to a service-based economy, with services now contributing 60 percent of GDP.
In 2014, the “Make in India” policy was launched to boost manufacturing.
The issue for local and foreign companies will be to identify comparative advantages of India’s cities, and which local and state governments attract investment and improve competitiveness by encouraging and protecting facilities for making and selling goods.
Government knows that urbanization is important, and policies encourage new towns to grow around information technology, for example, or education or health.
Cluster development models and special economic zones are being discussed to promote manufacturing and industrial townships, which will bring firms together to share specialized infrastructure, labor markets, and services.
Read the transcript http://bit.ly/2j6m649
Read the working paper https://www.adb.org/publications/how-identify-specialization-india-cities
About the author Kala Seetharam Sridhar is a professor at the Centre for Research in Urban Affairs, Institute for Social and Economic Change, Bangalore, India.
Know more about ADBI’s research on India: http://bit.ly/2kcLIzH Manufacturing: http://bit.ly/2BnOCoQ
Urbanization is associated with economic growth, but it’s a fine balance before rural poverty simply shifts to the cities and the cities become too big to sustain development, sucking growth out of gross domestic product.
Economic growth and development, urbanization, and energy and electricity consumption are all closely linked, but economic progress does not equal economic development if the poor simply move from one state of poverty to another.
Increases in GDP per capita lower poverty and narrow rural–urban gaps. Initially, increases in urbanization lead to improvements, but at higher levels of urbanization, increases worsen poverty and rural–urban gaps.
The United Nations reported that global urbanization broke the 50 percent mark in 2009, and will absorb almost all the projected 2.5 billion additional people over the next 40 years. Most of the people expected to move to urban areas will come from less developed regions.
Read the transcript http://bit.ly/2AvMIpa
Read the working paper https://www.adb.org/publications/urbanization-development-environment-and-inequality-nexus
About the author Brantley Liddle is a senior research fellow at the Energy Studies Institute, National University, Singapore.
Know more about ADBI’s research on inequality http://bit.ly/2k91onD
Urbanization has accelerated in the past few decades as thousands daily move to towns and cities in search of a better life, or better education opportunities for their children. Economic development is a natural spur to internal migration, but other factors may be may be in play in recent rapid demographic shifts, not least wider access to information over the Internet.
Slums, overcrowding, traffic congestion, and pollution are familiar signs of urban decay in many major cities. We ask Yang Zhang, ADBI research project consultant, whether these are signs that migration and urbanization have grown too rapidly for urban authorities to handle.
Read the transcript http://bit.ly/2zvIni4
Read the working paper https://www.adb.org/publications/accelerating-urbanization-explained-role-information
About the authors Yan Zhang is an ADBI research project consultant. Guanghua Wan is a principal economist at the Asian Development Bank.
Know more about ADBI’s research on urbanization: http://bit.ly/2B1ByVS
Developing Asian countries must introduce more comprehensive public welfare programs for the elderly as their economies transition from traditional filial altruism and the extended family to parental altruism and the nuclear family.
As an economy develops, increasingly large amounts of resources are transferred from working adults, who produce more than they consume, to their parents and children, who consume more than they produce.
Gone is the time when elders and children counted as parts of the labor force—children stay in school longer, and elders spend more and more time in retirement.
Working adults in advanced economies transfer more of their income to dependent family members.
Read the transcript http://bit.ly/2ADwwmi
Read the working paper https://www.adb.org/publications/intergenerational-transfers-demographic-transition-altruism
About the authors Yoshitaka Kodais a postdoctoral fellow of the Faculty of Economics at Chulalongkorn University, Bangkok, Thailand. ManachayaUruyos is an assistant professor at the Faculty of Economics, Chulalongkorn University. Siwapong Dheera-Aumpon is an assistant professor of economics, Kasetsart University, Bangkok.
Know more about ADBI’s research on aging http://bit.ly/2hTzeMV
Indonesia’s economy grew rapidly over the past 30 years, in large part due to sweeping political and institutional reforms, the right mix of economic policy packages, and the development of fairer economic institutions, but progress made in reducing poverty and income inequality is faltering.
In 1996, the richest Indonesians had six times more income than the poorest. In 2014, the richest had ten times more. The top 10 percent got more than 32.4 percent, with the top 20 percent getting 47.8 percent of income.
Inequality in Indonesia and its economic growth over the past 2 decades is a consequence of the country's shift from agriculture to services without safeguards to protect vulnerable members of society.
Read the transcript http://bit.ly/2hx4vRU
Read the working paper https://www.adb.org/publications/two-decades-structural-transformation-and-dynamics-income-equality-indonesia
About the authors Teguh Dartanto is head of the Poverty and Social Protection Research Group at the Institute for Economic and Social Research (LPEM), Faculty of Economics and Business, Universitas Indonesia.
Edith Zheng Wen Yuan is research associate
Yusuf Sofiyandi is research assistant at LPEM.
Know more about ADBI’s research on Indonesia: http://bit.ly/2mwSyAP Income inequality: http://bit.ly/2zIl87A
Hit by the 1997–1998 Asian financial crisis, economies in Southeast Asia adopted unconventional monetary policy measures to ride out the financial storm, and were the stronger for it, teaching a few unorthodox lessons to developed economies left reeling by the global crisis a decade later.
Central banks were initially at a loss about what to do, as share prices and asset values plunged, currencies and exports weakened, and investment capital fled—much as some central banks in advanced economies were during the global financial crisis of 2008.
In Asia, Thailand chose to recapitalize struggling banks, while in Hong Kong, China, the strategy was to buy falling stocks on the share market, which it later sold carefully back into the market, distributing the profit to every taxpayer as a bonus of some $1,000.
Public funding of bank recapitalizations in Thailand and the extraordinary purchase of equities in Hong Kong, China have elements of the unconventional monetary policy known as quantitative easing, which has received so much attention in major advanced economies in recent years.
During the Asian crisis, Western economists were skeptical about the macroeconomic benefits of government purchases of risky assets.
Since 2008, they have been far more sympathetic to the view that financial markets may not be efficient and may at times be destabilizing if left to themselves.
Read the transcript http://bit.ly/2zFdkno
Read the post on ADBI’s blog https://www.asiapathways-adbi.org/2017/09/unconventional-monetary-policy-in-the-asian-financial-crisis/
About the authors Tamim Bayoumi is a deputy director at the International Monetary Fund.
Joseph Gagnon is a senior fellow at the Peterson Institute for International Economics.
Know more about ADBI’s work on monetary policy http://bit.ly/2hw4DRs
Around the world, researchers and analysts are closely watching the economic performance of the People’s Republic of China in the wake of its recent slowing growth and the possible impact of that downturn on developed and developing economies.
The Asia and Pacific region is anxious, and the rest of the world has reason to worry about the consequences of a slowdown in the world’s second-largest economy.
But the slowdown allows countries to fine-tune their trade and currency policies to better benefit from the PRC’s next growth cycle.
Read the transcript http://bit.ly/2zwuqmX
Read the working paper https://www.adb.org/publications/impact-prc-slowdown-global-economy
Author Soumyananda Dinda is a professor at the Department of Economics, University of Burdwan, West Bengal, India.
Know more about ADBI’s research on People’s Republic of China http://bit.ly/2ArkHMV
Developing countries are relatively well positioned as they expand their energy capacity, with a banquet of climate-clean, sustainable, and renewable sources to choose from, while developed countries try to overcome centralization and replace long-established fossil and fissile sources bound up in laws and regulations, a French energy expert says.
About the speaker Magali Dreyfus has been a researcher at the French National Center for Scientific Research since 2013, and is affiliated with Center for European Research on Administration, Politics and Society, Lille University. She is a visiting fellow at the National Graduate Institute for Policy Studies in Japan.
Read the transcript http://bit.ly/2ApDze8
Know more about ADBI’s research on energy http://bit.ly/2zq1SeV
Watch Let's Turn on the Lights http://bit.ly/2m4oqg8
Since the early 20th century, emerging Asia has been subjected to the ebb and flow of lending from advanced economies. Since then the region has become more integrated into the global financial market, which has been exposed to the risk of capital flow reversals.
In the aftermath of the 2008 global financial crisis, capital has flowed into emerging economies, especially in Asia, in search of higher returns on investment.
Low interest rates in advanced economies made Asia more attractive, with its higher interest rates promising bigger returns.
This worries the region’s policy makers. Portfolio investments are more volatile and short-lived than long-term foreign direct investments. A surge in inflows harms recipient countries, as asset prices soar, and a sudden withdrawal of capital destabilizes markets.
Read the transcript http://bit.ly/2yniDUp
Read the working paper https://www.adb.org/publications/correlations-equity-markets-asia-and-impact-capital-flow-management-measures
Author Pornpinun Chantapacdepong was an ADBI research fellow and now assistant director at the Monetary Policy Group of the Bank of Thailand.
Know more about ADBI’s research on Global Financial Crisis: http://bit.ly/2zpwYRR Economic Integration: http://bit.ly/2AjebGY
Poverty among the elderly in developing countries such as India is on the rise as the traditional extended family unit dissolves, fertility rates decline, migration to urban jobs rises, and government attempts to improve aged care have left many falling through the gaps.
A small minority of workers in the formal sector are secure, but the vast majority of informal sector workers face poverty in their old age because they lack social protection.
To improve the income security of the elderly poor, the Indian government introduced the National Old Age Pension Scheme in 1995, a cash transfer to mitigate poverty faced by the elderly.
Read the transcript http://bit.ly/2zy3pMA
Read the working paper https://www.adb.org/publications/targeting-social-transfers-are-india-elderly-poor-left-behind
Author Viola Asri, a PhD candidate at the University of Zurich and a visiting doctoral researcher at the Laboratory for Effective Anti-Poverty Policies at Bocconi University in Milan
Know more about ADBI’s research on pensions http://bit.ly/2f84CWy
It’s been nearly a decade since the 2008 global financial crisis, and world economic growth rates are almost back where they were after a long, painful but instructive haul, and both developed and emerging economies have added a lot to their financial tool kits.
The International Monetary Fund predicts growth in developed countries will drop from the pre-crisis 2.2 percent to 1.5 percent, and in emerging economies from 7.5 percent to 5 percent between 2015 and 2020.
While high unemployment, huge debt in developed countries, excessive debt of enterprises in emerging economies, and overcapacity are to blame, declining productivity is another major culprit.
Read the transcript http://bit.ly/2z45gNb
Read the blog post https://www.asiapathways-adbi.org/2017/09/what-are-the-policy-options-for-reversing-productivity-decline/
Author Li Xu is a research fellow at ADB https://www.adb.org/adbi/about/staff-profiles/li-xu
Know more about ADBI’s research on productivity growth http://bit.ly/2gCi99o
Parents in developing Asia tend to spend more on sons but receive higher returns from daughters, turning on its head an age-old belief that sons—not daughters—take care of their aging parents.
This is true in the People’s Republic of China, where children are expected to help their parents based on Confucian philosophy, which values filial piety and altruism. Data show that investments in daughters paid off better than money spent on sons. Daughters gave back to their aging parents financial support, and helped with tasks like shopping, housekeeping, accounting, food preparation, telephone calls, and transportation.
Read the transcript http://bit.ly/2zyDip4
Read the working paper https://www.adb.org/publications/son-biased-investments-and-old-age-support
Author Christine Ho, School of Economics, Singapore Management University
Know more about ADBI’s research on supporting the elderly http://bit.ly/2z39tkb
Low-skilled workers in Viet Nam are hardest hit by market reforms and technology, with efficiency coming at the cost of jobs. Exposure to foreign markets and access to digital technologies raise demand for different types of skills, and while it has been good for the economy, more and more workers are being left behind.
Read the transcript http://bit.ly/2iiGGkd
Read the original report https://www.adb.org/publications/impact-trade-and-technology-skills-viet-nam
About the authors Jennifer Poole, American University and Institute of Labor Economics (IZA) Amelia Santos-Paulino and Maria Sokolova, United Nations Conference on Trade and Development Alisa DiCaprio, ADBI research fellow at the time the report was published
Read more about ADBI's research on Trade: http://bit.ly/2ytVl1X Viet Nam: http://bit.ly/2zeIo9M Technology: http://bit.ly/2ijiqyr
Asia and the Pacific are home to 4.3 billion people, and half the world’s urban population, with 120,000 people moving to cities every day, creating daily demand for 20,000 affordable homes.
Some cities, where housing is scarce and costly because they don’t have enough land or they’re where the jobs are concentrated, find it hard to provide enough public housing for a continuously rising urban population.
Hong Kong, China; the Republic of Korea; and Singapore have wrestled with this problem for decades.
Read the transcript http://bit.ly/2goPbKh
Read the original blog post https://www.asiapathways-adbi.org/2017/08/housing-policy-in-the-republic-of-korea/
About the authors Kyung-Hwan Kim is vice minister for land, infrastructure and transport, Republic of Korea Miseon Park is an associate research fellow, Korea Research Institute for Human Settlements.
Additional information is from the following From Slums to Sustainable Communities (https://www.habitat.org/sites/default/files/issue-paper.pdf)
Tackling Affordability in Asia (https://urbanland.uli.org/economy-markets-trends/tackling-affordability-asia/)
Waiting time to get into Hong Kong public housing shoots up a full year over past 12 months (http://www.scmp.com/news/hong-kong/education-community/article/2070493/waiting-time-get-hong-kong-public-housing-shoots).
Know more about ADBI’s research on housing in 2017 http://bit.ly/2x1WOJJ
Know more about ADBI’s research on housing in 2016 http://bit.ly/2hYPM24
Read The Housing Challenge in Emerging Asia: Options and Solutions By Naoyuki Yoshino and Matthias Helble https://www.adb.org/publications/housing-challenge-emerging-asia-options-and-solutions
Peer-to-peer lending is an emerging form of finance enabled by the Internet, matching investors with borrowers to get around rigid bank requirements faced by small and medium-sized enterprises—SMEs—and start-ups.
Borrowers apply to a peer-to-peer—P2P—platform of investors. The platform assesses the borrower’s credit risk and gives a credit score based on the platform’s own credit rating model. Investors then split up their money and lend it to borrowers, usually depending on the maturity of the loan and the risk entailed.
Read the transcript http://bit.ly/2xL5QyY
About the speaker David Storey was an analyst at the Asian Development Bank Institute at the time he presented his research. He is pursuing further studies at Warwick University, UK.
Know more about ADBI’s research on SMEs http://bit.ly/2kVLk8U
The idea of sharing future tax revenues with private investors is being promoted by the Asian Development Bank Institute—the ADBI—in Tokyo to help finance the region’s huge demand for infrastructure. But Naoyuki Yoshino, the dean of the institute, warns that future revenues need to be sustained for such financing to succeed in the longer term.
Japanese private railway companies played a major role in expanding the country’s transport sector in the 20th century. These companies were much more profitable than Japan National Railways, the public railway operator that was split up into seven private companies three decades ago after incurring massive public debt.
Read the transcript http://bit.ly/2yV3gCA
About ADBI dean, Naoyuki Yoshino https://www.adb.org/adbi/about/dean
Watch an ADBI video about spillover effects http://bit.ly/2eZaTQM
Know more about ADBI’s work on spillover effects http://bit.ly/2vVF81w
Remittances to developing countries in Asia help improve their economies with the net gains from exporting labor, and improve the lives of the poor people forced to work overseas—often for decades—because jobs are lacking at home.
A small gain in the contribution of remittances to gross domestic product has led to huge declines in poverty in 10 developing countries, notably Bangladesh, India, Nepal, Pakistan, and Sri Lanka in South Asia; and the People’s Republic of China, Indonesia, Malaysia, the Philippines, and Thailand in East and Southeast Asia.
A 1% rise between 1981 and 2014 parallels with a 22.6% decline in the poverty gap ratio and a 16.0% decline in the poverty severity ratio—taking into account the average poor household’s spending and the minimum income needed to pay for basic everyday needs.
Read the transcript http://bit.ly/2xtH4Do
Read the blog post https://www.asiapathways-adbi.org/2017/08/international-remittances-and-poverty-reduction/
Read the working paper https://www.adb.org/publications/international-remittances-and-poverty-reduction
Authors Naoyuki Yoshino is the ADBI dean https://www.adb.org/adbi/about/dean
Farhad Taghizadeh-Hesary is a professor of economics at Keio University, Tokyo https://www.asiapathways-adbi.org/author/farhad-taghizadeh-hesary/
Miyu Otsuka is a graduate student of economics at Keio University, Tokyo, and Science Po University in Paris https://www.asiapathways-adbi.org/author/miyu-otsuka/
Know more about ADBI’s work on remittances http://bit.ly/2zb1wpK
Economic corridors forming around the Greater Mekong Subregion have opened the way to greater development as better infrastructure leads to improved roads and bridges between neighbors.
The corridors are boosting economic growth in the GMS, and promoting intraregional trade and investment for Cambodia, Lao People’s Democratic Republic, Myanmar, Viet Nam, Thailand, and Yunnan Province and the Guanxi Autonomous Region in the People’s Republic of China.
Questions remain about the net benefits after the high cost of infrastructure; how evenly the benefits are spread; and how border security can be maintained in the face of trafficking of people, drugs, timber, wildlife, weapons, and black market goods.
Read the transcript http://bit.ly/2xvHJ2l
Read the working paper http://bit.ly/2y6Etia
About the author Manabu Fujimura, a professor at Aoyama Gakuin University, Tokyo.
Know more about ADBI’s work https://bit.ly/2SkWboG
Ha Noi, the Vietnamese capital, is renowned for its congested traffic. The government wants to build a third ring road around the city.
But it doesn’t have enough money for such a major project, with two other ring roads already under way. Some of the construction is being funded on a BOT basis—build, operate, transfer, whereby the investor constructs and maintains the ring road and gets the toll revenue for a certain period before handing it back to the public—and official development assistance from the Japan International Cooperation Agency.
However, private investors aren’t much interested because the expected returns on investment are too low. How can the government increase the returns to make investment more attractive to private companies?
Read the transcript http://bit.ly/2wsCssC
About ADBI dean, Naoyuki Yoshino https://www.adb.org/adbi/about/dean
Watch an ADBI video about spillover effects http://bit.ly/2eZaTQM
Know more about ADBI’s work on spillover effects http://bit.ly/2vVF81w
Think tanks try to influence the powerful—people who hold government office and make decisions—by independently speaking the truth and not being afraid to do so.
Adam Posen, president of the Peterson Institute for International Economics, a Washington think tank, says that doesn’t seem to be enough these days.
Read the transcript http://bit.ly/2kfLNSX
Watch the complete presentation http://bit.ly/2yCzvGD
Know more about the Global Think Tank Summit https://www.adb.org/news/events/global-think-tank-summit-2017
Japanese banks, insurance companies, and pension funds are investing in the US and other financial markets, due to the low or even negative interest rates at home. But their demand is pushing up the price of hedging, so when their dollars get converted back into yen, they lose money along the way.
Robert McCauley, senior adviser at the Bank for International Settlements, told the audience at the Asian Development Bank Institute’s Annual Conference 2016 that strong demand by Japanese entities was pushing up the price of yen–dollar swaps, an instrument to hedge foreign investment. In short, it’s becoming more expensive for Japanese investors to get out of yen and into dollar.
Read the transcript http://bit.ly/2yieiFV
Watch the full presentation http://bit.ly/2xTMvdW
Know more about ADBI’s work on low interest rates http://bit.ly/2xMCRI1
As the People’s Republic of China — the PRC — develops its “Go Global” suite of policies, it has expanded international capacity cooperation as a way to adjust to the “new normal” of low industrial growth.
It’s a novel approach to overcapacity — where an industry is capable of building or producing more than it can sell — which was caused in the PRC by the 2008–2009 spending stimulus that flooded traditional industries. Steel, cement, aluminum, paper, glass, and everything from pork production to robots are in 2017 overwhelmed by cyclical overcapacity.
Extending the lifespan for reform in the PRC’s industrial economy by moving production offshore from industrial-policy-protected provinces into the global system is an innovative solution to the country’s industrial slowdown.
Read the transcript http://bit.ly/2xqb1Dv
Read the blog post https://www.asiapathways-adbi.org/2017/07/the-prcs-international-capacity-cooperation-exports-both-industrial-capacity-and-financial-risk/
Author Tristan Kenderdine https://www.asiapathways-adbi.org/author/tristan-kenderdine/
Obesity and overweight are among the main risk factors of noncommunicable diseases that kill millions of people worldwide. How much do these diseases cost health systems and economies?
In the United States, every obese person spends about $2,741 a year for additional health care. In Japan, overweight and obesity cost $1,537 a person. US businesses spend about $66 billion because of the absenteeism and lower productivity caused by overweight and obesity. The numbers are similar for European countries.
Read the transcript http://bit.ly/2xtM7k6
Read the report https://www.adb.org/publications/imminent-obesity-crisis-asia-and-pacific-first-cost-estimates
Authors Matthias Helble, ADBI senior economist and co-chair of the Research Department https://www.adb.org/adbi/about/staff-profiles/matthias-helble Kris Francisco, ADBI research associate at the time the report was published
Know more about ADBI’s work on overweight and obesity https://www.adb.org/adbi/search/year/2017?keywords=obesity
Read a related ADBI blog post Obesity in Pacific Island countries and territories: How big a problem is it? By Jillian Wate bit.ly/2xqE5b5
Developing country economies are proving to be a competitive market for investment in local bonds because they offer relatively high yields and long maturities, which limit the risk of fluctuations in the US dollar, although not the risk to the developing economy.
The lessons of the Asian financial crisis 20 years ago have shown that the movement of capital can be a gamble.
The reality of international finance is complex, said Hyun-Song Shin, economic adviser and head of research at the Bank of International Settlements (BIS) at a recent Asian Development Bank and ADBI conference, 20 Years After the Asian Financial Crisis.
Read the transcript http://bit.ly/2xzrZyz
Watch the full presentation https://youtu.be/ZA6l-aBJ44Y
Know more about the conference http://bit.ly/2oYbBk6
Know more about ADBI’s work on the Asian financial crisis http://bit.ly/2xq2S22
Coal as an energy source in power plants will continue to increase in ASEAN and East Asia in the coming decades in the absence of a viable energy alternative, stoking fears of an upsurge in carbon dioxide emissions and greenhouse gases.
Signals coming from Washington of lessened concern in the US over pollution issues, and President Donald Trump’s withdrawal from the Paris Agreement on climate change, gives developing Asia little option but to continue down the same path.
But many of the ASEAN economies are looking at new technologies that use coal in a cleaner way, such as the ultra-supercritical boiler type—USC—which makes more efficient use of coal, leading to minimal waste of the energy source and curbs carbon dioxide emissions.
Read the transcript http://bit.ly/2h8mZLv
Read the blog post https://www.asiapathways-adbi.org/2017/06/propelling-asean-towards-clean-coal-technology/
Author Han Phoumin, energy economist at the Economic Research Institute for ASEAN and East Asia, Jakarta, Indonesia https://www.asiapathways-adbi.org/author/han-phoumin/
Know more about ADBI’s work on coal http://bit.ly/2jslQ23
Spillovers are the additional economic activities created by new infrastructure. A new highway will often attract new businesses and create jobs. As a result, governments will receive more revenue from property taxes, corporate taxes, income taxes, and sales taxes. So, to attract private companies with higher returns, governments need to share those future tax revenues with investors. ADBI Dean Naoyuki Yoshino explains further in this episode.
Read the transcript http://bit.ly/2wfswGN
About Naoyuki Yoshino https://www.adb.org/adbi/about/dean
Know more about ADBI’s work on spillover effects http://bit.ly/2vVF81w
Watch Let's Build a Highway http://bit.ly/2eZaTQM
Many emerging Asian economies will likely face a pension fund crisis by 2030 if they fail to set aside sufficient money in a gradually aging region to care for their elderly.
The fiscal burden of public pensions in most Asian emerging economies is relatively small, reflecting comparatively young populations and limited coverage of the retired-age population, which has traditionally been left to families to handle.
The Asian Development Bank Institute—ADBI—looked more closely at the extent of the looming pension crisis to identify the current status of public pension spending in Asia; develop models to explain public pension spending in Asia in terms of basic economic and demographic variables; and use the models to forecast the likely developments in spending on public pensions in 23 emerging economies through 2030 as a result of demographic and income trends.
Read the transcript http://bit.ly/2h5pAGc
Read Costs and Potential Funding of Expanded Public Pension Coverage in Asia https://www.adb.org/publications/costs-and-potential-funding-expanded-public-pension-coverage-asia
Authors Peter Morgan, ADBI co-chair of research https://www.adb.org/adbi/about/staff-profiles/peter-morgan Long Q. Trinh, ADBI research associate https://www.adb.org/adbi/about/staff-profiles/long-trinh
Know more about ADBI’s work on pensions http://bit.ly/2f84CWy
It’s been almost 2 decades since the central bank moved to clean up the country’s private banks. Back then, Cambodia didn’t have a single ATM.
Today, branches with ATMs are common in provincial areas, deposits have increased, and credit has grown quickly. Minimum capital requirements have been raised. And in a country where cash was once king, electronic payments are now widespread.
With an extremely young population, Cambodia has seen the numbers of bank depositors grow enormously in recent years.
Most are too young to remember the three bank closures of 1999. And, unlike their parents or grandparents, many young Cambodians are wary of keeping their savings in gold or in cash at home under the bed.
The move toward deposit insurance in Cambodia is being spearheaded by Naoyuki Yoshino, dean of the Tokyo-based Asian Development Bank Institute, which provides input to policy makers in member countries.
Read the transcript http://bit.ly/2ePuSBn
Read Fair Premium Rate of the Deposit Insurance System based on Banks’ Creditworthiness https://www.adb.org/publications/fair-premium-rate-deposit-insurance-system-based-banks-creditworthiness
By Naoyuki Yoshino https://www.adb.org/adbi/about/dean Farhad Taghizadeh-Hesary https://www.asiapathways-adbi.org/author/farhad-taghizadeh-hesary/ Farhad Nili
“The US exit from the Trans-Pacific Partnership (TPP) has paved the way for the People’s Republic of China (PRC) to dominate and have a greater influence in the Asia-Pacific region,” said Geethanjali Nataraj of India’s Institute of Public Administration at a recent Asian Development Bank Institute seminar.
Japan has picked up the baton and is trying save the TPP, without the US, and is open to inviting the PRC and the Republic of Korea, initially excluded from the negotiations, to join late-stage talks. Some members are shifting back to bilateral deals with the US.
The Asian economic region is scrambling to build alternative multilateral and bilateral trade agreements, but none will have the consensus of or be as comprehensive and expansive as the TPP.
One that is growing in popularity is the PRC’s “One Road One Belt” initiative, a 21st century land and sea Silk Road linking Asia through Central Asia to the European Union, and expected to involve 60 economies accounting for 40% of global GDP.
It is a centerpiece of the PRC’s foreign policy and timed to be in place by 2049, the country’s centenary.
Economists say it will relieve the pressure of overcapacity on the PRC’s economy by allowing it to spread its production base and bypass protectionism by importing and exporting finished products.
Read the transcript http://bit.ly/2vZMdSY
Watch the complete presentation https://youtu.be/a-GMkiRYctU
Know more about ADBI’s work on the TPP http://bit.ly/2xb3lEH
Win-Win—How International Trade Can Help Meet the Sustainable Development Goals was recently published by ADBI and edited by ADBI senior economist Matthias Helble and Ben Shepherd, principal at Developing Trade Consultants.
The book looks at what can be realistically achieved after the 2015 United Nations Sustainable Development Summit, where some 150 world leaders adopted the 2030 Agenda for Sustainable Development, including the Sustainable Development Goals, or SDGs.
The 17 SDGs, also known as the Global Goals, aim to end poverty, hunger, and inequality; act on climate change and the environment; improve access to health and education; build strong institutions and partnerships; and ensure that all people enjoy peace and prosperity.
Twenty-five economists and analysts examined the UN goals in the real context of developing economies, picking apart such areas as poverty, hunger, the role of women, job creation, inequality, the environment and climate change, fisheries, food safety, education, health care, urbanization, and infrastructure.
Read the transcript http://bit.ly/2xfEZcL
Read the book https://www.adb.org/publications/win-win-how-international-trade-can-help-meet-sdgs
Edited by Matthias Helble, ADBI senior economist and co-chair of the Research Department https://www.adb.org/adbi/about/staff-profiles/matthias-helble
Ben Shepherd, principal at Developing Trade Consultants
Know more about ADBI’s work on the Sustainable Development Goals http://bit.ly/2xb7XuB
The debate about the influence of exchange rates volatility on trade is intensifying, as US President Donald Trump attempts to blame the People’s Republic of China’s exchange rate policy for the US current account deficit.
The link between exchange rates and trade is a complex one, and while there are several analyses of this relationship, none are considered definitive.
Some experts say exchange rate volatility increases the uncertainty of companies about potential export profit, leading them to reduce exports, but that is theoretical. Others say a significant proportion of companies will increase exports, aiming to offset the loss on each exported unit. The latter explanation is strongly contested.
Read the transcript http://bit.ly/2eTI5cI
Read the blog post https://www.asiapathways-adbi.org/2017/04/how-does-exchange-rate-volatility-affect-value-added-and-gross-trade/
Author Yizhe Daniel Xie is a PhD candidate at the Graduate School of Asia-Pacific Studies, Waseda University, and a non-resident fellow at the CSIS Pacific Forum.
Obesity has reached world-wide epidemic proportions. Overweight and obesity weaken the body, hamper lower-body mobility, and impede daily activities. In older people, they cause physical dysfunction and increase the risk of disability. Overweight and obesity also raise the risks for ischemic heart disease, hypertension, stroke, diabetes, and certain cancers.
Both conditions could severely undermine the economic and human development of the region, and seriously threaten the region’s prosperity.
What can be done?
Read the transcript: http://bit.ly/2iV9Nu5
Read the report: http://bit.ly/2rHNSZQ
Authors Matthias Helble, ADBI senior economist and co-chair of the Research Department https://www.adb.org/adbi/about/staff-profiles/matthias-helble Kris Francisco, ADBI research associate https://www.adb.org/adbi/about/staff-profiles/kris-francisco
Read a related ADBI blog post: Obesity in Pacific Island countries and territories: How big a problem is it? By Jillian Wate http://bit.ly/2xqE5b5
Muhammad Yunus believes the world must look again at what banks should be—and what they should do. The Bangladeshi Nobel laureate and founder of Grameen Bank also wants to upend our thinking about jobs and entrepreneurship. He sent a video message to the Global Think Tank Summit held in Yokohama in May, and organized by the Asian Development Bank Institute and the Think Tanks and Civil Societies Program, University of Pennsylvania. He spoke about the microcredit institution he founded some 40 years ago. He started Grameen after seeing the life-changing effects of lending his own money to poor villagers near his university at Chittagong.
Read the transcript: http://bit.ly/2vCOtzz
Watch the full presentation: http://bit.ly/2wWTH9l
With the United States walking away this year from multilateral deals like the Trans-Pacific Partnership and the Paris Agreement on climate change, is globalization doomed? Guntram Wolff, the director of Brussels-based economic think tank Bruegel, thinks not, given the importance of Europe and Asia.
If the United States doesn’t change course, he says, the responsibility for Europe and Asia to work jointly on sustaining the multilateral system will become fundamentally important.
Guntram Wolff is the director of Brussels-based economic think tank, Bruegel. He spoke at the Global Think Tank Summit in May 2017, in Yokohama.
Read the transcript: http://bit.ly/2gaxFsL
Watch the full presentation: http://bit.ly/2xxuCOs
Know more about the Global Think Tank Summit 2017: http://bit.ly/2n9l5g2
Know more about ADBI’s work on globalization: http://bit.ly/2xhkREO
Women in emerging Asian economies will be big winners in e-commerce and online trade, which will help them overcome geographic isolation and limited access to information and financing. But obstacles remain.
E-commerce helps women overcome the challenges of building a business. Working from home lowers overhead and setup costs, makes it easier to access the latest information, and removes geographic limitations through online trading.
Read the transcript http://bit.ly/2wL0j9P
Read the policy brief https://www.adb.org/publications/development-dimension-e-commerce-asia-opportunities-and-challenges
Authors Aladdin Rillo, ADBI senior economist, https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo Valdimir dela Cruz, a former ADBI research associate
Know more about ADBI’s work on Digital economy http://bit.ly/2ivDzFy E-commerce http://bit.ly/2vaEDV8 Women and trade http://bit.ly/2oHrYW9
A fast-growing digital economy is opening new opportunities for small and large businesses, but developing Asia is hampered by a lack of infrastructure and outmoded regulations.
International cooperation and coordination with development partners will help standardize simple, transparent, and effective processes for global business, as will efficient and automated exchange of information.
The private sector should focus on market infrastructure to support a digitally driven economy. It needs to develop new business models and encourage innovation to realize the full impact of digital connectivity. It must reassure consumers that their privacy will be respected, that the goods will be of good quality and arrive on time, and that payment systems are secure and they can get their money back if needed.
Read the transcript http://bit.ly/2ivIVRe
Read the policy brief https://www.adb.org/publications/development-dimension-e-commerce-asia-opportunities-and-challenges
Authors Aladdin Rillo, ADBI senior economist, https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo Valdimir dela Cruz, a former ADBI research associate
Know more about ADBI’s work on Digital economy http://bit.ly/2ivDzFy E-commerce http://bit.ly/2vaEDV8
Local communities in Japan are taking sustainable energy into their own hands, with small investors backing wind and solar projects instead of waiting for the government to act. Hometown investment trust funds are using the Internet to tap local investors for 100 dollars to 5,000 dollars to fund projects where they live.
Banks are reluctant to finance renewable energy projects, deeming them too risky. Alternative financing vehicles are supporting growth in risky sectors in Asia. Hometown investment trust funds have spread from Japan to Cambodia, Mongolia, Peru, and Viet Nam, and are also attracting attention from the government of Thailand and Malaysia’s central bank.
Read the transcript http://bit.ly/2xa9H3Z
Read the blog post https://www.asiapathways-adbi.org/2017/04/hometown-investment-trust-funds-a-sustainable-solution-for-financing-green-energy-projects/
Authors Naoyuki Yoshino, dean, ADBI https://www.adb.org/adbi/about/dean
Farhad Taghizadeh-Hesary, assistant economics professor at Keio University, Tokyo https://www.asiapathways-adbi.org/author/farhad-taghizadeh-hesary/
Know more about ADBI’s work on hometown investment trust funds http://bit.ly/2vO13J0
The Association of Southeast Asian Nations (ASEAN) has delayed establishing an ASEAN Economic Community (AEC) by a decade as it strives to emulate the European Union and promote collective growth.
The AEC failed to reach agreement on 105 of 506 measures by its 2015 deadline. A successor blueprint, called the AEC Blueprint 2025, which lays out the work for ASEAN economic integration in the next 10 years, was adopted at the 27th ASEAN Summit in November 2015.
But economists question whether economic integration of such a disparate group of economies is feasible in scope and ambition. And even if possible, they question whether the AEC can do a better job of hastening reforms and binding ASEAN member states to their commitments at a time of increasing uncertainty and rising protectionist pressures in the global economy.
Simply put, the ASEAN Economic Community Council needs to replace the so-called “ASEAN Way” of doing business, which is consensus driven and any step can be blocked if one member doesn’t like the outcome. A whole way of thinking must change if 2025 is to amount to anything more than a date on a page.
Read the transcript http://bit.ly/2wVE1Qz
Read the blog post https://www.asiapathways-adbi.org/2017/07/will-2025-be-the-final-deadline-for-the-asean-economic-community/
Authors Jayant Menon, lead economist, Asian Development Bank https://www.asiapathways-adbi.org/author/jayant-menon/
Anna Cassandra Melendez, consultant, Asian Development Bank https://www.asiapathways-adbi.org/author/anna-cassandra-melendez/
Know more ADBI’s work on ASEAN http://bit.ly/2wVtzbJ
Asia’s emerging economies are becoming more focused on the region and less dependent on global markets, but they need to protect themselves from risks of becoming too reliant on the emerging giants such as the People’s Republic of China. The Global Financial Crisis of 2009 had less of an impact on emerging Asia in part because it had weathered its own storm in 1998, and it was more reliant on regional than global links for trade and investment.
Read the transcript: http://bit.ly/2x4yFmc
Watch the complete presentation: https://www.youtube.com/watch?v=QA9YUZW2a3s&feature=youtu.be
Know more about 20 Years after the Asian Financial Crisis: Lessons, Challenges: http://bit.ly/2oYbBk6
Know more about ADBI’s work on the Asian financial crisis: http://bit.ly/2wfxDG8
Digital financial services are being used to draw more people into the global financial system. Digital financial services must therefore be developed and regulated to safeguard against risk and to secure consumer protection.
Different approaches to regulation, as in Cambodia and in the Philippines, show how regulations can hinder or spur growth.
Read the transcript: http://bit.ly/2fvgX6L
Read the policy brief, Financial Inclusion in the Digital Age: https://www.adb.org/publications/financial-inclusion-digital-age
Authors: Shawn Hunter, manager, Inclusive Finance, The Foundation for Development Cooperation Valdimir dela Cruz, ADBI associate at the time the brief was published David Dole, ADBI senior economist https://www.adb.org/adbi/about/staff-profiles/david-dole
As finance becomes more inclusive, financial services will reach people who have no experience with formal finance structures, and they may fail to use the services fully or properly. Financial education is a crucial component of successful financial inclusion. Even in advanced economies, significant gaps remain in financial literacy.
This episode discusses financial literacy in Japan and Malaysia.
Read the transcript http://bit.ly/2vpb0we
Read the policy brief https://www.adb.org/publications/financial-inclusion-digital-age
Authors Shawn Hunter, manager, Inclusive Finance, The Foundation for Development Cooperation Valdimir dela Cruz, ADBI associate at the time the brief was published David Dole, ADBI senior economist https://www.adb.org/adbi/about/staff-profiles/david-dole.
E-commerce is increasingly leading the way in the global marketplace, taking a bigger share of world trade, creating more jobs, and pushing economic growth, but also challenging Asia’s developing economies.
Although most e-commerce transactions occur in developed markets such as the United States, the United Kingdom, Northern Ireland, and Japan, developing countries led by those in Asia are catching up. Many are important buyers and sellers of goods and services online.
Read the transcript: http://bit.ly/2urmimp
Read the policy brief, The Development Dimension of E-Commerce in Asia: Opportunities and Challenges: https://www.adb.org/publications/development-dimension-e-commerce-asia-opportunities-and-challenges
Authors: Aladdin Rillo, ADBI senior economist https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo Valdimir dela Cruz, former ADBI research associate
Africa and Asia are latecomers to urbanization. In these two continents, less than half live in urban centers, while elsewhere, more than 70% of people do. But Africa and Asia are now rapidly urbanizing, with Asian cities growing at an average of 1.5% per year and Africa’s at 1.1% per year.
While the world’s largest megacities of 10 million people or more are in Asia, Africa’s urban populations have been catching up. Incoming residents are competing for new financial and social opportunities but are placing increasing demands on city resources and services.
Increasingly, the importance of the transferability of Asian experiences to other regions is being recognized for more efficient development paths.
Read the transcript http://bit.ly/2uXYTrb
Read the blog post https://www.asiapathways-adbi.org/2017/07/pointers-from-asia-for-urbanization-in-africa/
Authors Naoyuki Yoshino, ADBI dean https://www.adb.org/adbi/about/dean
Matthias Helble, ADBI senior research economist and Research Department co-chair https://www.adb.org/adbi/about/staff-profiles/matthias-helble
Grant B. Stillman, ADBI legal adviser https://www.adb.org/adbi/about/staff-profiles/grant-stillman
Digital technology can speed up economic growth, but only if people have the right skills, said the panelists at the Asian Development Bank annual meeting in May. ADBI research fellow Alisa DiCaprio told Devex that the bank can advance technology diffusion and adoption, and should invest in information and communication technology or ICT where progress has not benefited the many.
Read the transcript: http://bit.ly/2u1CVAO
Read the article and watch the interview: https://www.devex.com/news/adb-and-the-fourth-industrial-revolution-90242
Featuring Alisa DiCaprio https://www.adb.org/adbi/about/staff-profiles/alisa-dicaprio
Agriculture in Central Asia and the Caucasus not only ensures the food supply, but also supports the majority of the rural population and creates jobs. Although agriculture’s share of gross domestic product or GDP has declined since 2000, it still accounts for a large proportion of GDP in several countries. Tajikistan’s agriculture sector makes up over one quarter of GDP. Armenia accounts over a fifth of GDP to agriculture, while and Uzbekistan and the Kyrgyz Republic have a little under a fifth.
Even so, the relatively small market and reliance on a narrow range of agro-food products have dampened farm output. In order to raise outputs and cash to meet the growing domestic and international demand, the region needs to jointly develop and integrate their agricultural value chains. These value chains encompass the goods and services required for a product to move from farm to consumer.
Read the transcript http://bit.ly/2uYsQHU
Read the policy brief https://www.adb.org/publications/promoting-agricultural-value-chain-integration-central-asia-and-caucasus
Authors Aladdin Rillo https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo Suryo Ariyanto Nugroho https://www.adb.org/adbi/about/staff-profiles/suryo-ariyanto-nugroho
Farms need the right policies, regulations, and institutions backing them. They need access to credit and adequate market infrastructure, support for technology and innovation, and greater opportunities for private sector investment.
With these reforms in place, countries will be able to access new markets and meet growing local and overseas demand, which will create jobs and boost incomes of the rural poor. Landlocked economies stand to benefit, thanks to cross-border production sharing and investments. An integrated value chain can make all the players more productive and efficient and contribute to agriculture-driven economic growth.
Read the transcript http://bit.ly/2v6NGpG
Read the policy brief https://www.adb.org/publications/promoting-agricultural-value-chain-integration-central-asia-and-caucasus
Authors Aladdin Rillo, ADBI senior economist https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo Suryo Ariyanto Nugroho, ADBI research associate https://www.adb.org/adbi/about/staff-profiles/suryo-ariyanto-nugroho
Putting savings to work is crucial for Asia’s developing economies. In developing Asia, however, access to credit, savings and payment services remains limited. In 2014, only 36 percent of adults in East Asia and the Pacific had formal savings accounts and only 11 percent had access to formal credit.
With more than 600,000 branches worldwide, post offices provide an alternative to rural people to access services that traditional financial institutions cannot provide. So developing postal savings may be good for increasing financial inclusion, reducing poverty and achieving higher economic growth.
Read the transcript http://bit.ly/2uYep6O
Read the policy brief https://www.adb.org/publications/innovating-financial-inclusion-postal-savings-system-revisited
Authors Aladdin Rillo, ADBI senior economist https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo Jeffrey Miyamoto, former ADBI research associate
In a blockchain, each block is “chained” to the previous one in a peer-to-peer data sharing network.
We’ve all heard the buzz about the potential applications of blockchain technology. But what’s actually happening in developing countries in Asia and the Pacific?
Beyond bitcoin payments and remittances, blockchain exists largely in the pilot stage. Governments and banks are collaborating with technology firms to see if it can be used to solve persistent problems like traceability, identification, and trust.
Let’s bring some clarity to the hypotheticals. But first, what exactly is blockchain? It's a type of database that takes records and puts them in a block (akin to, say, a sheet in your Excel file).
Each block is then “chained” to the previous block, using a cryptographic signature. This allows blockchains to be used like a ledger, which can be shared and corroborated by anyone with permission.
In short, it’s peer-to-peer sharing of data – it does not require a trusted intermediary.
Read the blog post https://www.asiapathways-adbi.org/2017/07/blockchain-pilots-making-waves-in-developing-asia/ https://blogs.adb.org/blog/blockchain-pilots-making-waves-developing-asia
Authors Alisa DiCaprio, ADBI research fellow https://www.asiapathways-adbi.org/author/alisa-decaprio/
Steven Beck, Asian Development Bank head of trade finance https://www.asiapathways-adbi.org/author/steven-beck/
Post offices can deliver financial services to people who don’t have access to traditional banks. But developing efficient postal finance isn’t easy. Although it can have a powerful presence in an economy, postal finance can also be inefficient and corrupt. Good regulation is important to make sure that it is both effective and accountable.
Read the transcript http://bit.ly/2tlooyD
Read the policy brief https://www.adb.org/publications/innovating-financial-inclusion-postal-savings-system-revisited
Authors Aladdin Rillo https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo Jeffrey Miyamoto
In 2010, Viet Nam launched a public–private partnership project called the Partnership for Sustainable Agriculture, which drew interest from big companies. The partnership successfully established training programs for farmers, which increased their productivity and income, and improved both crop quality and yield.
Countries in Central Asia and the Caucasus where farms are inefficient might gain insight from the partnership model used by Viet Nam.
Read the transcript http://bit.ly/2t9QMJa
Read the policy brief https://www.adb.org/publications/promoting-agricultural-value-chain-integration-central-asia-and-caucasus
Authors Aladdin Rillo https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo Suryo Ariyanto Nugroho https://www.adb.org/adbi/about/staff-profiles/suryo-ariyanto-nugroho
The SME Competitiveness Outlook [http://www.intracen.org/SMEOutlook/SMECO2016/] of the International Trade Center helps governments understand the challenges that SMEs face in their quest to either penetrate the export market or expand export shipments. The report contains regional snapshots, which allow governments—as well as managers at SMEs—to zoom in on a specific group of products and markets that are lucrative for SMEs.
Read the transcript http://bit.ly/2tPyk7j
Watch the full presentation https://www.youtube.com/watch?v=bvOw9efepRE&feature=youtu.be
Read ADBI publications on SMEs http://bit.ly/2vfKTqm
Despite remarkable growth in per capita GDP over the past 50 years, poverty remains widespread in Asia, says Haruhiko Kuroda, governor of the Central Bank of Japan and former president of the Asian Development Bank. More must be done to promote growth that benefits everyone, regardless of socioeconomic status or gender, he says. The poor need education and jobs, governments must help small businesses flourish, the poor must learn how to save and how to borrow money through financial institutions rather than moneylenders, and so financial institutions need to improve financial literacy among the poor and be more open to lending against uncertain risk.
Mr. Kuroda made these remarks in May at the Global Think Tank Summit in Yokahama, organized by the Asian Development Bank Institute and the Think Tanks and Civil Societies Program of the University of Pennsylvania.
Read the transcript http://bit.ly/2tiE4WG
Read the whole speech: Toward Inclusive Growth http://www.boj.or.jp/en/announcements/press/koen_2017/ko170502a.htm/
Listen to and watch the whole speech https://youtu.be/PE2J5nlzaQo
Know more about the Global Think Tank Summit 2017 https://www.adb.org/news/events/global-think-tank-summit-2017
Naoyuki Yoshino, dean of the Asian Development Bank Institute, told VTC10–NETVIET in Ha Noi, Viet Nam, that small business owners need education to be able to access finance. He also said that even if people in many developing countries such as Viet Nam and Indonesia have money and want to save, there is nowhere they can safely put their money. Changing technology, he said, may hold the solution, and post offices could serve better the needs of remote populations.
Read the transcript http://bit.ly/2srCyP5
Watch the whole interview on VTC10–NETVIET http://www.vtc.gov.vn/chitiet/4818-viet-nam-goc-nhin-cua-ban-14-04-2017.html
Know more about Naoyuki Yoshino: https://www.adb.org/adbi/about/dean
Negative interest rates will likely remain important, says the University of Rochester’s Professor Narayana Kocherlakota, former president and CEO of the Federal Reserve Bank of Minneapolis. But the trick will be to harness low rates to boost consumer expectations and spending.
Read the transcript http://bit.ly/2tNP5zZ
Watch and listen to the full presentation https://www.youtube.com/watch?v=BKnJS37KbGE&feature=youtu.be&t=2420
Read other ADBI resources
ADBI Annual Conference 2016: The Implications of Ultra-Low and Negative Interest Rates for Asia https://www.adb.org/news/events/adbi-annual-conference-2016-implications-ultra-low-and-negative-interest-rates-asia
Monetary policy spillovers in emerging Asia By Ansgar Belke, Irina Dubova and Ulrich Volz https://www.asiapathways-adbi.org/2017/05/monetary-policy-spillovers-in-emerging-asia/
Ultra-low interest rates and wandering overinvestment cycles in East Asia By Gunther Schnabl https://www.asiapathways-adbi.org/2017/03/ultra-low-interest-rates-and-wandering-overinvestment-cycles-in-east-asia/
Micro insurance could potentially reach 3 billion people and earn the industry up to $30 billion from insurance premiums. But only about 5% of the total market in Asia, Africa, and Latin America is covered, and only about 20% of micro insurance is being distributed by microfinance institutions globally. Micro insurance must expand globally to meet the needs of the poor.
Read the transcript http://bit.ly/2sIvAJV
Read the full policy brief https://www.adb.org/publications/financial-inclusion-digital-age
Authors Shawn Hunter David Dole https://www.adb.org/adbi/about/staff-profiles/david-dole Valdimir dela Cruz https://www.adb.org/adbi/about/staff-profiles/valdimir-de-la-cruz
Fragility and conflict are interlinked, particularly in states, as conflict is usually the result of fragility reaching a climax, says Patrick Safran, a senior official of the Asian Development Bank when he spoke at ADBI. Training is a key tool to strengthen fragile and conflict-affected states, he says, and women play a particularly important role in helping improve the conditions in these countries. Central and local governments, as well as the civil society organizations, he stresses, must also be involved, and communication campaigns are crucial for stimulating community participation and sense of ownership.
Read the transcript http://bit.ly/2tT0Equ
To watch the whole presentation, go to https://www.youtube.com/watch?v=YLHH0AtldTE&t=636s
Standards and regulations for export companies are multiplying, and for a small company the challenge of complying can be daunting. To counter that, the International Trade Center—or ITC—focuses on guiding export-oriented small and medium-sized enterprises or SMEs to export markets.
Read the transcript http://bit.ly/2tj6oIG
Watch the whole presentation: https://www.youtube.com/watch?v=bvOw9efepRE&t=271s