Ganeshan Wignaraja

About Ganeshan Wignaraja

Ganeshan Wignaraja is Advisor in the Economic Research and Regional Cooperation Department of the Asian Development Bank. He was formerly Director of Research at the Asian Development Bank Institute.
Author Archive | Ganeshan Wignaraja
Infrastructure

South Asia could be linchpin for regional integration

South Asia could be linchpin for regional integration
As the world deals with the "new normal" of a slowing China, regional financial and economic integration is more important than ever, and South Asia is strategically poised to play an influential part. There are several reasons why it is time to take a fresh look at the potential bridging role of South Asian economies in Asian integration. First, the South Asian economies -- which comprise India, Pakistan, Bangladesh, Sri Lanka, Nepal, the Maldives, Afghanistan and Bhutan -- have a largely untapped market of about 1.7 billion people, and they belong to the South Asian Free Trade Area. Read more.
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Trade

What Africa can learn from Asian supply chains

What Africa can learn from Asian supply chains
At this week’s 10th World Trade Organization (WTO) Ministerial Conference in Nairobi, Kenya, trade ministers are trying to advance 15 years of Doha Development Agenda talks to reduce trade barriers. The real issue, however, is whether African economies can follow East Asia's success in global supply chains amid “new normal" growth and rising inequality. Read more.
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Regional Cooperation

Mega-regional infrastructure initiatives – Asia’s new noodle bowl?

ADB has financed part of the Almaty-Bishkek highway
One of the striking lessons from Asia’s success over the past few decades is that it makes economic sense to invest in regional infrastructure to link two or more countries to support outward-oriented development strategies. Read more.
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Finance

4 ways to boost SME access to finance from commercial banks in ASEAN

Seamstresses working for a small garment-making business in Indonesia
Concerns about moderating economic growth and rising income inequality in ASEAN economies have brought small and medium-sized enterprises (SMEs) into the policy limelight. Arguing that SMEs have significant potential for creating jobs, some commentators are suggesting a host of industrial policies such as financial subsidies and local content rules to promote SMEs. However, government failure may result from heavy-handed state intervention for SMEs. Read more.
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Infrastructure

The case for connecting South Asia and Southeast Asia

The case for connecting South Asia and Southeast Asia
The time is ripe for enhancing economic integration between South Asia and Southeast Asia. The new “normal” era of slow growth in advanced industrial economies following the global financial crisis suggests that Asian economies will need to rely more on domestic and regional demand to secure inclusive growth. The recent slowdown in growth in the People’s Republic of China suggests further grounds for tapping growth opportunities between South Asia and Southeast Asia. Read more.
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Regional Cooperation

Potential gains from closer cooperation between South Asia and Southeast Asia

South Asian and Southeast Asian economies have all embraced an outward-oriented development strategy, albeit to different degrees. The result has been an impressive increase in international trade, foreign direct investment (FDI) inflows, and significant productivity improvements, which in turn have contributed to important socio-economic gains. Indeed, some of these economies have delivered among the most striking economic performances in the world. Read more.
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Finance

Why do we need financial education in Asia?

Why do we need financial education in Asia?
This article assesses the case for promoting financial education in Asia. It argues that the benefits of investing in financial education can be substantial. Data are limited, but indicate low financial literacy scores for selected Asian countries. As economies develop, access to financial products and services will increase, but households and small and medium-sized enterprises (SMEs) need to be able to use the products and services wisely and effectively. More effective management of savings and investment can contribute to overall economic growth. Moreover, as societies age and fiscal resources become stretched, households will become increasingly responsible for their own retirement planning. Asia’s evolving experience suggests that more national surveys of financial literacy are needed and that coherent, tailored national strategies for financial education are essential for success. Read more.
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Regional Cooperation, Trade

AEC is due—but what about institutions?

AEC is due—but what about institutions
A pressing policy question facing Association of Southeast Asian Nations (ASEAN) leaders at their summit in April 2015 and beyond is whether the ASEAN Economic Community (AEC) can be sustained without more effective institutions. This article explores the link between achieving the AEC agenda and institutional effectiveness. To remedy the implementation gridlock, it proposes reforms to the leadership and the technical level of ASEAN bodies, prioritization of new institutions, an effective monitoring mechanism, and an empowered ASEAN Secretariat. Read more.
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Trade

Plurilateral trade agreements: an overlooked but powerful force for international trade opening for Asia?

Plurilateral trade agreements: an overlooked but powerful force for international trade opening for Asia?
After over a gloomy decade of inconclusive talks, a small but important step was taken in early December 2014 to finish the Doha Round negotiations of the World Trade Organization (WTO). In 2015 and beyond, actions to arrive at a Doha Round Agreement should be accompanied by embracing new plurilateral trade agreements within the WTO. This move can benefit growth and development in Asia. This article reviews the outlook for the WTO Doha Round and examines the case for plurilateral trade agreements for Asia. Read more.
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Trade

Will Asian investment follow trade with Latin America?

Will Asian investment follow trade with Latin America?
Latin America is firmly on the economic radar of Asia in the post-global financial crisis world economy. Both Asia and Latin America have grown faster than the world economy. As Figure 1 shows, during 2009–2013, annual average growth was 4.6% in Asia, 2.4% in Latin America, and 1.9% for the world economy. Trade between the two regions has grown significantly, reaching a historic high of over half a billion dollars in 2014 (see Figure 2). This figure is projected to increase to $750 billion by 2020. Increased trade has prompted a flurry of diplomatic activity. In July 2014 the President of the People’s Republic of China (PRC), Xi Jinping, visited Argentina, Brazil, Cuba, and Venezuela. Shortly afterward, Japanese Prime Minister Shinzo Abe visited Brazil, Chile, Columbia, and Mexico. Pledges of trade, foreign direct investment (FDI) and foreign aid accompanied these high-level visits. Read more.
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