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The latest Intergovernmental Panel on Climate Change report, Global Warming of 1.5 ºC, notes the importance of mobilizing green finance for limiting global warming to 1.5 degrees Celsius and preventing catastrophic climate change. In line with this, some countries have been implementing policies to support green bonds. Green bonds are debt securities whose proceeds are used to fund environmental projects, including climate change mitigation and adaptation. Therefore, unlike conventional bonds, green bonds finance projects with clear environmental benefits (ICMA 2018).
Small and medium-sized enterprises (SMEs) are significant contributors to economic activity and employment worldwide, and Thailand is no exception. In Thailand, SMEs represent the vast majority of firms and employ the bulk of the domestic workforce. According to the Office of SMEs Promotion (OSMEP 2019), in 2018, approximately 3 million companies were classed as SMEs in the country, comprising 99.8% of all companies. SMEs also accounted for 14 million jobs, or 86% of total employment.
By Sayuri Shirai. Posted June 24, 2020
The coronavirus disease (COVID-19) outbreak has transformed the global monetary policy landscape. The sharp global economic slowdown caused by the spread of the virus and the various countermeasures embarked on by governments under states of emergency (such as quarantines, policies to restrict mobility, school closures, and restrictions and limitations on business operations) prompted many central banks to implement substantial monetary easing from March 2020 along with massive ﬁscal stimulus measures. As a result of these measures, a growing number of central banks have faced the effective (or zero) lower bound or approached it in their policy rates.
Environmental, social, and governance (ESG) investment is critical for achieving inclusive growth in Asia and can play a critical role in reducing the income inequality caused by the coronavirus disease (COVID-19).
COVID-19 highlights the need to strengthen environmental risk management and scale-up sustainable finance and investment across Asia
Like the rest of the world, Asia has been hit hard by the COVID-19 crisis. While some countries have been able to contain the spread of the virus relatively well, the disruption of supply chains, sharp decline in global demand, and the large-scale withdrawal of capital have led to severe economic contractions across the region.
By Pitchaya Sirivunnabood. Posted May 25, 2020
Asia is advancing toward becoming a gray society, though some countries are in the early stages and some are more advanced. The longevity revolution is being demonstrated through longer life expectancies due to medical innovation and improvements in medical care, as well as people having healthier lifestyles. Meanwhile, a continuously decreasing trend in fertility rates is being witnessed across the region. These two factors combined create the demographic transition of population aging. This demographic transition is not new, and its socioeconomic impacts have spread widely in many economies in Asia and the Pacific.
By Farhad Taghizadeh-Hesary. Posted May 18, 2020
The recent collapse in oil prices in the global market was caused by a combination of supply and demand issues as well as uncertainty about the future, and has resulted in a crash in financial markets. But what are the reasons behind this collapse, and what impacts will it have on oil-exporting and oil-importing economies?
By Shujiro Urata. Posted May 11, 2020
The world has been witnessing the active construction of global value chains (GVCs) by multinational corporations (MNCs) in recent decades. According to the World Bank (2020), the share of GVC trade in world trade increased rapidly from approximately 40% in 1990 to over 50% in 2007 before declining somewhat after the global financial crisis in 2007–2008. MNCs fragment production processes into various stages and locate them in various countries and places where the particular stages can be conducted most efficiently, or at least cost, in order to achieve an efficient production system.
By Jayant Menon. Posted April 28, 2020
The Association of Southeast Asian Nations (ASEAN) and its bigger counterpart ASEAN+3, comprising the 10 ASEAN members and the People’s Republic of China, Japan, and the Republic of Korea (ROK), have been slow to respond to the COVID-19 pandemic. While they have been strenuously ramping up their efforts, more needs to be done, and quickly. There are many things they can do immediately, such as employing their machinery to increase consultation and cooperation to curb contagion—both medical and economic—and limit beggar-thy-neighbor policies.
The number of COVID-19 cases in many Asian developing countries is surprisingly low, but this may simply reflect inadequate levels of testing. The high correlation between rates of testing and per capita GDP strongly suggests that lower-income countries face a number of barriers to carrying out adequate testing. This raises the risk of rapid increases in infection rates in the future and points to the need for support for additional testing, as well as for increases in medical spending and general fiscal measures.
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