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Economics, Finance sector development
Economics, Finance sector development, Information and Communications Technology
Economics, Finance sector development, Information and Communications Technology
Economics, Health, Regional cooperation and integration
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Economics
Economics, Finance sector development, Health
Climate change, Economics, Environment, Finance sector development
Economics, Environment, Finance sector development
Economics, Health, Industry and trade
Achieving resilient emerging market economies amid the macroeconomic challenges of the 21st century
Emerging market economies have faced a host of challenges in the post-global financial crisis (GFC) environment. The GFC environment was shaped by the confluence of four key developments. The first was financial globalization and de-regulation, processes that started in the late 1970s in Organisation for Economic Co-operation and Development (OECD) countries. These later spread to emerging markets in the 1990s and 2000s and transformed the global financial system into a complex cobweb of global networks, exposing countries to financial shocks transmitted by volatile bursts of capital inflows and outflows of “hot money.”
Fintech development transforming the financial landscape in the People’s Republic of China
Financial technology (fintech) is rapidly changing the financial landscape in the People’s Republic of China (PRC), with important implications for financial inclusion and macroeconomic stability (Huang 2020). Fintech in the PRC started at the end of 2004 when the mobile payment service Alipay first came online. However, fintech did not grow dramatically until 2013, when the online money market fund Yu’ebao started to receive investments from Alipay users.
Digital transformation poses potential risks for stability and the financial industry
Digital transformation is changing how and by whom financial services are provided, bringing benefits to consumers in the form of expanded and simplified access to financial services. However, this transformation is also affecting the financial services industry in ways that could lead to greater risks to systemic financial stability.
Toward an ASEAN COVID-19 travel balloon
While financial markets have responded strongly to the emergency-use authorization of various coronavirus disease (COVID-19) vaccines in several countries, the economic impacts will take much longer to materialize. One reason for this is that vaccinating 60% or more of populations to achieve herd immunity will take time. Reaching herd immunity is critical given the possibility that those vaccinated may still be infectious, despite being immune to the disease.
Toward a robust economic recovery from COVID-19 in Asia and the Pacific
The coronavirus disease (COVID-19) pandemic has been a truly global shock to public health, causing one of the most severe global economic downturns since the Great Depression of the 1930s. Against this context, the 2020 ADBI Annual Conference brought together leading academics, think tank researchers, and policy makers to discuss the impacts of COVID-19 and its policy implications, with a focus on Asia and the Pacific.
Moving beyond GDP: Well-being and degrowth development alternatives
The financial crisis of 2008 sent shock waves across the world as economies collapsed or were severely damaged or crippled. Since then, many other crises have ensued, covering issues including debt, finance, stock markets, the environment, natural disasters, society, social media, governance institutions, politics, the nation state, and, most recently, global health pandemics. In a rapidly changing world, the number and frequency of global crises have not slowed or decreased. Rather, such crises are mounting, accelerating, and recurring.
COVID-19 and policy responses through the lens of global asset markets and capital flows
The coronavirus disease (COVID-19) pandemic and the resulting lockdowns have led to an unprecedented economic contraction and turbulence in financial markets, which initially caused the largest ever outflows of portfolio capital from emerging market economies (EMEs). Globally, governments have responded to the crisis with substantial fiscal stimulus packages. In addition, central banks around the world have eased monetary policies, with many EME central banks also implementing quantitative easing (QE) measures for the first time.
Exploring the link between climate change and sovereign risk
Climate change can have a material impact on sovereign risk through direct and indirect effects on public finances. In addition, climate change raises the cost of capital in climate vulnerable countries and threatens debt sustainability. Governments must climate-proof their economies and public finances or potentially face an ever-worsening spiral of climate vulnerability and unsustainable debt burdens.
Achieving policy objectives for green bonds in ASEAN
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).
Empowering Thai SMEs to join global value chains: Policy priorities under COVID-19
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.
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