The recent bank turmoil in the US has awakened ghosts of past financial crises. While the likelihood of a fully-fledged crisis seems limited, it cannot be ruled out. Policymakers in the region must act now to shield their economies from possible negative spillovers.
In economies where government officials can be bribed, or other acts of corruption undertaken to start a business or innovate, entrepreneurship is less likely to thrive.
ADB economists Matteo Lanzafame, Yuho Myoda, Irfan Qureshi and Arief Ramayandi answer questions about the impact on Asia of rising interest rates, based on their research for the Asian Development Outlook 2022 Update.