To benefit from the demand for Asian exports, rapid and widespread vaccination – particularly in light of the Omicron variant – is needed to stop the divergence in economic recovery paths among Asia’s economies.
Matteo is a macroeconomist and conducts research in many areas, with a particular focus on growth and development issues. He is part of the team that produces ADB's Asian Development Outlook and conducts macroeconomic surveillance and monitoring. Prior to joining ADB in 2019, Matteo was Associate Professor of Political Economy at the University of Messina, in Italy. He holds an MA in Development Economics and a PhD in Economics from the University of Kent, in the UK.
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COVID-19 has resulted in broad impacts on food security in Asia. Policymakers must respond quickly and aggressively to these challenges to avert long-term damage from this emerging crisis.
As new virus outbreaks emerge in developing countries in Asia, vaccines are changing the nature of the pandemic by rendering COVID-19 a much less deadly disease. Governments are responding with milder containment measures.
The pandemic has worsened inequality on many fronts. Pro-active macroeconomic policy combined with labor retraining programs and increased social protection are needed.
Finance, globalization, technology and urbanization – key drivers of economic growth – can lead to more or less inequality—depending on how prevalent they are in the economy.
The pandemic represents a severe challenge for policymakers in Asia. They need a response that will help economies achieve a more efficient and fairer allocation of resources in the economy, enhancing productivity, economic growth and employment.