Donghyun Park

Principal Economist, Economic Research and Regional Cooperation Department (ERCD)

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.

The Indonesian rupiah was affected by the 2018 emerging market foreign exchange turmoil.

Bigger Local Currency Bond Markets Can Protect Asia from Turmoil

Research shows bigger local bond markets help countries strengthen their financial systems and their economies.

Donghyun Park, Kwanho Shin, Shu Tian

Rising private debt is a growing concern for Asian emerging economies.

Ignore Rising Corporate Debt at Your Peril

Asian policy makers should be worried if they see a sustained surge in corporate borrowing.

Donghyun Park, Kwanho Shin, Shu Tian

The PRC plays a central role in the tightly integrated regional production network.

How Global Trade Tensions are Affecting Asian Financial Markets

Amid uncertainty over the evolution of the PRC-US trade dispute, markets in the region are taking a wait-and-see stance.

Donghyun Park, Cynthia Castillejos Petalcorin, Shu Tian

What makes bonds “green” is not yet well established.

Do Greenness Standards Matter for Green Bonds? Some Empirical Evidence

Widely accepted definitions and standards of greenness will help green bond markets grow and become more accurately priced.

Suk Hyun, Donghyun Park, Shu Tian

Market specific-factors have affected currencies in Indonesia, India, and the Philippines.

Are Asian Currencies at Risk from Currency Turmoil in Argentina, Turkey?

The region's strong fundamentals limit the risk of foreign exchange volatility.

Cynthia Castillejos Petalcorin, Donghyun Park, Shu Tian

Population aging may affect economic growth in the PRC.

Will Asia Grow Old Before it Becomes Rich?

Asian economies generally meet the conditions for a demography-driven middle-income trap, especially in East and Southeast Asia.

Joonkyung Ha, Sang-Hyop Lee, Donghyun Park

The normalization of US monetary policy has been fully anticipated.

Fed Interest Rate Hike: How Hard Will it Hit Asia?

The Fed’s rate hike won’t have much impact in emerging Asia, at least in the short term.

Donghyun Park, Shu Tian

A more volatile global economic landscape has left individual economies more vulnerable to external shocks.

The Global Financial Crisis and Middle-Income Countries

To withstand external shocks and sustain growth, middle-income countries need to get the basics right on manufacturing, currency management, and education.

Donghyun Park, Shu Tian, Gemma Estrada, Yothin Jinjarak

Janet Yellen, Chair of the US Federal Reserve.

Taper Tantrum 2.0? How Fed’s Balance Sheet Normalization Affects Asia

It’s high time for emerging Asian markets to prepare themselves for the tighter global financial conditions that Fed balance sheet normalization entails.

Donghyun Park, Arief Ramayandi, Shu Tian

Aerial view of Astana, Kazakhstan.

Is Economic Growth in Middle-Income Countries Different From Low-Income Countries?

A new ADB working paper provides insights into what factors drive growth at middle-income economies.

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