Donghyun Park

Principal Economist, Economic Research and Regional Cooperation Department

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 the middle-income trap, service sector development, and financial sector development. Dr. Park plays a leading role in the production of Asian Development Outlook and Asia Bond Monitor, two major ADB flagship publications.

Tea quality appraisal in a PRC factory.

Structural change in Asia – good for growth but bad for equity?

Recent empirical analysis of the nexus between productivity growth and wage inequality in several Asian economies provides new, policy-relevant evidence.

A village elder in Viet Nam.

The human dimension of population aging in Asia

In Asia’s demographic transition, let’s not forget about the elderly. The human dimension is the key to a greyer but richer and happier region.

Financial district in Hohhot, PRC.

What drives credit spreads of PRC corporate bonds?

Our empirical evidence indicates that PRC corporate bond credit spreads are significantly related to both micro and macro risk factors.

Donghyun Park, Shu Tian

A seafood condiment automatic production line in the PRC.

Is the global productivity slump here to stay?

It is far too early to tell whether the current global productivity slump will persist – the current pessimism may be overdone.

Central business district in Makati, Philippines.

What drives Asian bond yields? Inflation, both CPI and PPI

Our empirical evidence for 9 Asian economies indicates that both CPI and PPI inflation have a direct effect on bond yields, although each matter differently depending on the country.

A cook at the Yangguang Hotel in Taiyuan, PRC.

Can services sustain the PRC's economic growth?

Beijing must be far bolder if the services sector is to become a more powerful and sustainable engine of economic growth and job creation.

Customer counting Malaysian ringgit at a cafe.

Is ASEAN the next big growth play for global bond investors?

The external vote of confidence in ASEAN bond markets seems to be driven by the region’s strong medium- and long-term growth prospects, which bodes well for their future beyond the short term.

Shanties on stilts in front of high-rise buildings in Dhaka, Bangladesh.

Asia must use fiscal policy carefully for inclusive growth

Expanding the role of fiscal policy in fighting poverty and inequality should not come at the expense of fiscal sustainability.

Activity at a local bank in Dili, Timor-Leste.

Key policy areas to achieve financial inclusion in developing Asia

It’s not just about broadening access to finance, but also inducing beneficial use of credit.

A dairy production plant in Inner Mongolia, PRC.

The global productivity slump: Common and country-specific factors

Declining productivity growth is one of the most disturbing and, no doubt, important phenomena affecting the world economy. The question is what lies behind it, and whether it might be reversed.

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