Expanding the role of fiscal policy in fighting poverty and inequality should not come at the expense of fiscal sustainability.
Asian success stories have broken down the old distinctions between rich countries and poor, developing and developing, development assistance providers and aid recipients.
As articulated by Cavoli, Rajan, and Siregar (2004) in their survey of East Asian financial integration, financial integration is a multidimensional process closely associated with development of financial markets.
This seminar to be held at the 46th Annual Meeting of the ADB Board of Governors today discusses the growing importance of knowledge based economic development for developing Asia.
No one can say that the second largest economy in the world is trapped. Decades of structural change and rapid growth allowed for a swift transition from a low-income to a middle-income country. The challenge today lies in moving up to higher-income status. How could the People’s Republic of China (PRC) avoid the trap?
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.
Research shows bigger local bond markets help countries strengthen their financial systems and their economies.
Developing Asia urgently needs further investments in infrastructure to sustain growth and improve social equity.
Total factor productivity growth in middle-income countries depends on innovation, human capital, and infrastructure.
Moving beyond middle-income status through sustained rapid growth is the natural next step for the region.