Countries with better information and communication technology, particularly internet access, were able to do more activities online during the pandemic, which cushioned the adverse effect of COVID-19 on economic activity.
Shu’s research interests include financial services and institution, investments, and empirical asset pricing. She works in the teams that works that produce Asian Development Outlook and Asia Bond Monitor. Prior to joining ADB, Shu was an Associate Professor of Finance at Fudan University in the People’s Republic of China.
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Decreased tax revenues and increases in public spending due to COVID-19 make it imperative for developing Asian countries to mobilize private capital for the vast investments needed to achieve the SDGs.
There is evidence of a positive link between sustainable behavior and financial return which will likely drive the continued growth of green and social finance.
Evidence shows that green and social finance are associated with positive environmental and social outcomes and can contribute to a more sustainable world.
Asian regulators and policy makers should undertake prudential financial supervision and regulation to improve the quality of private debt and reduce the risk of financial instability in the future.