Donghyun Park

Economic Advisor, Strategic Knowledge Initiatives, Economic Research and Regional Cooperation Department, ADB

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.

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.

If the US economy grows strongly, higher rates could drive relative interest differentials in favor of the US.

US Interest Rate Hikes: How Should Asia Respond?

Urgent action is needed to reduce leverage levels in case US interest rates rise faster than expected.

Donghyun Park, Shu Tian, Arief Ramayandi

Reaching high income through sustained rapid growth is the natural next step for Asia.

Can Asia Take the Next Step to High-Income?

Moving beyond middle-income status through sustained rapid growth is the natural next step for the region.

Juzhong Zhuang, Donghyun Park

Historically it takes a typical middle-income country over half a century to reach high income.

Can Asia Reach High-Income?

Total factor productivity growth in middle-income countries depends on innovation, human capital, and infrastructure.

Donghyun Park, Abdul Abiad, Shu Tian, Gemma Estrada

More institutional investors in Asia will further spur the development of infrastructure bond markets.

Are Infrastructure Bonds the Next Big Thing in Infrastructure Financing?

The region’s infrastructure bond market is still at a nascent stage.

Donghyun Park, Shu Tian, Suk Hyun

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.

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