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Economics, Governance and public sector management, Industry and trade, Regional cooperation and integration
Economics, Finance sector development, Governance and public sector management
Economics, Education, Finance sector development, Governance and public sector management, Poverty, Social development and protection
Energy, Environment, Governance and public sector management, Infrastructure
Economics, Energy, Finance sector development, Governance and public sector management
Economics, Education, Finance sector development, Governance and public sector management, Infrastructure
Economics, Energy, Environment, Governance and public sector management, Infrastructure
Economics, Finance sector development, Governance and public sector management
Economics, Finance sector development, Governance and public sector management
The PRC’s international capacity cooperation exports both industrial capacity and financial risk
International capacity cooperation (国际产能合作guoji channeng hezuo) was a 2014 addition to the “Go Global” policy suite that the People’s Republic of China’s (PRC) central bureaucracy expanded throughout 2016. It is the result of seeking a way forward from “new normal” low industrial growth rates and is a novel solution to the industrial capacity utilization problems the PRC has suffered since the 2008–2009 spending stimulus flooded into traditional industries. Steel, cement, aluminum, paper, glass, and everything from pork production to robots are in 2017 mired in cyclical overcapacity.
Will 2025 be the final deadline for the ASEAN Economic Community?
The Association of Southeast Asian Nations (ASEAN) fell short of its target of realizing the ASEAN Economic Community (AEC) by the end of 2015, deferring 105 of its 506 measures. A successor blueprint called the AEC Blueprint 2025, which lays out the work for ASEAN economic integration in the next 10 years, was adopted at the 27th ASEAN Summit in November 2015.
Is corruption “sand in the wheels” for credit markets? Evidence from European MSMEs
Bank credit is a crucial financing tool for micro, small, and medium-sized enterprises (MSMEs) given their difficulty in entering equity markets. However, accessing bank credit is not as easy as one might think. Specifically, MSMEs often face difficulties when they need to provide valid collateral to loan officers (Cowan, Drexler, and Yañez, 2015).
Costs of expanded public pension coverage in emerging Asia
The fiscal burden of public pensions in most emerging Asian economies is relatively small, reflecting relatively young populations and limited coverage of the retired-age population in public pension programs. Nonetheless, these conditions are likely to change dramatically in the coming decades. First, many Asian economies will face rapidly aging populations, which will raise pension and other old-age-related spending substantially. Second, as economies develop, political pressures to expand the coverage of public pensions and raise the level of pension benefits relative to income will likely increase.
Propelling ASEAN towards clean coal technology
Coal, the most abundant and reliable energy resource, will continue to be the dominant energy source in power generation to meet the fast-growing electricity demand in the emerging economies of the Association of Southeast Asian Nations (ASEAN). The share of coal use in power generation was 32% in 2015, and this is projected to increase to 42% by 2040.
Twenty years after the Asian financial crisis: The evolution of Asian financial cooperation
When Asia was hit by its regional financial crisis 20 years ago, Asian policy makers were quick to call for regional solutions to what was perceived to be a common problem: Asian countries’ dependence on foreign finance. Prominent political figures and scholars argued for a greater regional focus of monetary and economies policies, suggesting the introduction of currency baskets modeled on trade patterns, financial structures, and even Asian currency units akin to the European Currency Unit, the euro’s predecessor.
Kick-start private infrastructure with future tax-sharing bonds
Everybody from President Trump to the Global Infrastructure Forum is trying to think of innovative ways to attract long-term private and institutional investors to pay for the huge and largely unmet demand for new highways, railways, and dams. Promising ideas, including guarantees or gap funding, the concessional blending of finance, and bankability enhancements, have been tried but are not enough to convince overseas pension schemes or high net worth individuals to invest their idling funds in worthwhile projects, especially in emerging economies with untried issuers (Regan, 2017).
Electrifying emerging ASEAN through off-grid distributed renewable energy systems
Some 134 million people in the Association of Southeast Asian Nations (ASEAN) region do not have access to electricity (IEA and ERIA, 2013). At the end of 2015, the ASEAN Community declared that the lack of power and energy access could threaten the region’s economic growth and its economic transition.
Escaping the middle income trap: Innovate or perish
The “middle income trap” captures the situation where a middle income country can no longer compete internationally in standardized, labor-intensive commodities because wages are relatively too high, and it can also not compete in higher value added activities on a broad enough scale because productivity is relatively too low. The result is slow growth, stagnant or falling wages, and a growing informal economy.
Assessing the BOJ’s yield curve control policy
The Bank of Japan (BOJ) announced in September last year that it would be switching the focus of its quantitative easing program from monetary base targeting to controlling the shape of the yield curve (Bank of Japan, 2016). A brief comparison of the two frameworks is as follows. The previous monetary easing framework, Quantitative and Qualitative Monetary Easing (QQE) with a Negative Interest Rate, set out three policy dimensions: quantity, quality, and interest rates.
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