Finance, globalization, technology and urbanization – key drivers of economic growth – can lead to more or less inequality—depending on how prevalent they are in the economy.
Just as past crises triggered international and regional financial cooperation, the pandemic offers an opportunity to collectively improve financial resilience and soundness.
Government assistance programs, and relaxed insolvency procedures, have helped keep businesses afloat during the pandemic.
Vaccination programs and travel bubbles are still in their infancy. They could help revive tourism in Asia and the Pacific but governments need to pave the way with the right policies.
Measuring purchasing power is an effective way to track economic recovery after the pandemic, estimate the real sizes of economies, and gauge poverty.
Post-COVID economic recovery could be delayed in countries with poor track records on governance.
Governments need to strategically use financing opportunities while safeguarding their economies from the risks of runaway debt and poor debt management.