Banking integration in ASEAN gathers pace
The ASEAN Economic Community, planned to come into effect in 2015, is expected to liberalize goods, capital and skilled labor flows in the ASEAN region. While there has been considerable progress in the area of trade integration, financial integration still lags behind. The ASEAN Banking Integration Framework, which aims to liberalize the banking market by 2020, could help pave the way for further integration and the entry of ASEAN banks into regional banking markets.
Impact evaluations crucial for effective public policy
Asian countries are increasingly turning to investing in dedicated development programs rather than relying entirely on economic growth to deliver better social outcomes. Evaluations of their actual impact have not always accompanied such decision making, but where they have, it has made a key difference.
Renminbi stepping in right direction toward internationalization
The PRC may be a globally significant economic and trading power, but the market share of its currency, the renminbi (RMB), lags well behind the US dollar and the euro.
To align the RMB with its growing global stature, the PRC has embarked on a strategy to internationalize the currency. Typically, it is taking a gradual approach.
Unlocking Myanmar’s potential
Economic and political transition is never an easy process for any country and it will be no different for Asia’s fast awakening tiger, Myanmar.
Will we see an ASEAN Economic Community by 2015?
Launched as a political bloc and security pact in the aftermath of the Viet Nam War, the Association of Southeast Asian Nations (ASEAN) has evolved to embrace an ambitious economic agenda. Its latest project is to establish the ASEAN Economic Community by 31 December 2015. But is this likely?
Five bond market trends to watch out for in 2015
As 2015 gathers pace, the world seems to be entering a more uncertain and unpredictable phase. With the end of quantitative easing by the Federal Reserve, we are entering an era of tighter global liquidity.
Countries and migrant workers pay high price for the benefits of remittances
Every year, millions of people cross borders to work abroad. People migrate for various reasons, but for the majority of migrant workers, they are compelled by poverty and lack of job opportunities in their home countries.
Accelerating public capital investment to reduce Nepal's infrastructure deficit
Public capital spending has been persistently weak in Nepal, and raising the amount and quality of capital expenditure required to close the infrastructure deficit is one of the country’s most pressing challenges.
ADB’s initial analysis of the economic impact of the Nepal earthquake
The 7.8 magnitude earthquake that rocked Nepal on 25 April has imposed a huge human and economic toll on the country. Estimating the exact economic cost will be an ongoing process, but these are our initial thoughts.
Has Asia's debt risen too quickly?
Debt has ballooned in developing Asia following the 2008-2009 global financial crisis, supported by plentiful global liquidity. With the US Federal Reserve about to raise interest rates, data from the Asian Development Outlook 2015 gives a clearer picture about the possibility of a credit slowdown in the region.