Decreased tax revenues and increases in public spending due to COVID-19 make it imperative for developing Asian countries to mobilize private capital for the vast investments needed to achieve the SDGs.
Prior to joining ADB in 2007, Donghyun was a tenured associate professor of economics at Nanyang Technological University in Singapore. He has a PhD in economics from UCLA in the US, and his main research fields are international finance, international trade, and development economics. His research, which has been published extensively in journals and books, revolves around policy-oriented topics relevant for Asia’s long-term development, including innovation, entrepreneurship, and green finance. Dr. Park plays a leading role in the production of Asian Development Outlook and Asia Bond Monitor, two major ADB flagship publications.
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There is evidence of a positive link between sustainable behavior and financial return which will likely drive the continued growth of green and social finance.
Evidence shows that green and social finance are associated with positive environmental and social outcomes and can contribute to a more sustainable world.
While the pandemic has affected the entire population, it has had a disproportionate impact on the older generation that built this region’s prosperity. We owe it to older persons to pursue policies that help them to make it through the crisis healthy and happy.
Wellness provides a more balanced and holistic view of a country’s development than its per capita gross domestic product. A new tool is helping policymakers measure wellness in society.
The tradeoff between lost lives during the pandemic and lost livelihoods is often viewed as an all-or-nothing choice between complete lockdown versus zero restrictions. In reality, a balance can be struck.