- الصفحة الرئيسية
- Sustainable Development Goals
- No Poverty
No Poverty
Digital economy integration in Asia and the Pacific: Insights from DigiSRII 1.0
This paper presents the results from using the Digital and Sustainable Regional Integration Index version 1 (DigiSRII 1.0) framework of ESCAP (2020b) to uncover digital economy integration trends across the Asia-Pacific region. The results show that Asia and the Pacific has made good progress with regard to conventional digital economy integration especially because of the significant improvements in the digital economy infrastructure and liberalization of trade of information and communications technology (ICT) goods. However capacity-building of the workforce and investment in infrastructure are required to bridge the digitalization gaps among the digitalized economies in the region. Moreover the fairly low regulatory uniformity among regional economies further highlights the importance of regional regulatory harmonization in order to foster regional trade in digitally enabled goods and services. From a sustainable development perspective inclusivity and equity of access to digitalization and required infrastructure remain key challenges. While Internet penetration in the region has been rising female participation in the digital economy has remained relatively low in general and extremely low in lowincome economies. In addition there is room to enhance cybersecurity in most Asia-Pacific economies. Regional digital policies should focus on harmonizing data protection protocols and building a safer network of servers that would promote economic activity and enable sensitive matters to be conducted online. Fostering a more inclusive digital transformation may considerably boost network-effects and accelerate the transition to a competitive and sustainable regional digital economy.
Estimating the effects of Internet exchange points on fixed-broadband speed and latency
The present paper provides estimates of the relationship between the number of Internet exchange points (IXPs) and fixed-broadband speed and latency in 74 countries from 2016 to 2019 using a balanced panel data set developed by the Economist Intelligence Unit for its “Inclusive Internet Index”. While in several studies a positive role of IXPs on Internet speed and latency is established a majority of the earlier ones are technical studies examining the traffic routes in specific networks. This paper contributes to this literature by triangulating earlier findings using an econometric model. The recent availability of the panel data set on IXPs speed and latency by the Economist Intelligence Unit has made this exercise possible.
Addressing sovereign debt challenges in the era of COVID-19 and beyond: The role of the United Nations
Traditionally sovereign debt problems of developing countries have been discussed mostly at institutions representing the creditors such as the Paris Club and at the International Monetary Fund but they have also been addressed by the United Nations mostly in the context of its international conferences on financing for development. Although the views of the United Nations on debt are not widely known they are highly relevant in the post-COVID-19 context as inflationary pressures could lead to tightened global financial conditions and exacerbate debt vulnerabilities in developing countries. The present paper provides an overview of sovereign debt restructurings from the 1980s a summary of the debt situation of Asia and the Pacific as a case study and a review of the views of United Nations on debt issues. It also offers suggestions to improve the global debt architecture based on such views by highlighting the importance of linking debt sustainability with sustainable development in debt restructuring workouts and through a hub-and-spoke institutional arrangement to disseminate prudential debt management practices and promote transparency.
Household consumption expenditure in Thailand during the first COVID-19 lockdown
The COVID-19 pandemic has been particularly challenging to developing countries such as Thailand. Although the country has managed to control the outbreak relatively well changes in the consumer spending behaviour could affect the whole economy. In this study household consumption expenditure in Thailand during the first COVID-19 lockdown is examined by using descriptive and empirical analyses. The findings of this study indicate that total consumption declined drastically during the first two quarters of 2020. Consumer spending on services dropped significantly during that time but spending on non-durable goods durable goods and housing-related expenses increased. These expenditure patterns are similar to those in developed countries in which consumers increased their spending on at-home activities but reduced their expenditures outside the home.
Securing green development: Can Asia-Pacific central banks and financial supervisory authorities do more?
The present paper contains a discussion on how central banks and financial supervisory authorities can foster green development in Asia and the Pacific. It is based on the argument that while fiscal policy has received much attention central banks and financial supervisory authorities can certainly play a complementary role in accelerating the transition towards low-carbon climate-resilient economies. Indeed these institutions are obliged to act as inaction could compromise their mandate to maintain economic and price stability given that climate change poses an emerging risk to the financial system. The first point made in the paper is that approximately half of the Asia-Pacific central banks either have sustainability-oriented mandates or have begun to integrate climate issues into their policy conduct. The following discussion points out that while the region remains at the early stage of implementing green monetary and financial policies some central banks and financial supervisory authorities are at the forefront in deploying monetary policy tools prudential measures and broader initiatives to support green finance. To further promote green central banking having clear guiding principles effective communication and adequate technical capacity to customize the green approach is critical. Moving forward these institutions should be mindful of possible unintended adverse impacts of sustainable central banking such as interfering with market neutrality supporting green washing and crowding out green private investments.
Central banks and financial inclusion
Central banks can address barriers to financial inclusion in multiple ways including regulations regarding banks and non-bank institutions identity and know-your-client (KYC) rules support for innovative financial products and support for innovative financial technology (fintech). At the same time central banks must weigh the trade-offs between financial inclusion financial innovation and financial stability. The present paper contains a survey the policies of central banks and other financial regulators in a number of emerging Asian economies to promote financial inclusion. It serves to identify successful experiences and important lessons and it provides a review of policies central banks adopted during the COVID-19 pandemic.
Policymakers' corner: Challenges of monetary policy in a developing country
For a central bank to be successful in regulating the financial sector it must have relevant and pragmatic policies. It should ensure that all financial institutions including banks comply with prudential and management norms. Both internal and external factors are making it difficult for Bangladesh Bank to monitor and regulate the financial sector especially banks. Bangladesh Bank has to move away from its present conventional stance towards a heterogeneous unconventional and implementable approach. It must strike a balance showing an appropriate professional stance while avoiding the negativity of politically motivated reforms in a highly technical domain.
Invited paper: Impact of climate change and variability on food security in the Asia-Pacific region
The Asia-Pacific region is highly disaster prone and susceptible to climate variability and extremes due to widely varying geography from coastal territories to mountainous areas and tropical to polar climates. Long-term food security in this region necessitates estimation of future food production including the assessment and adoption of adaptation/mitigation strategies. The present paper serves to highlight climate variability of the recent past and for future projected scenarios and its impact on food production. It serves to recommend adaptive climate-smart agricultural measures from local practices to policy level initiatives to help address 2030 Agenda for Sustainable Development and future food security of the Asia-Pacific region.
Fiscal and monetary policies in developing countries: State, citizenship and transformation
Special theme: Macroeconomic policies for inclusive sustainable development: A framework for inclusive and sustainable growth in Asia and the Pacific
The Asia-Pacific region faces extraordinary challenges due to economic and social disparities made worse by the COVID-19 pandemic and rising vulnerabilities caused by climate change. Addressing these challenges will require a holistic and unified plan of action for combatting these economic and social disparities. The present paper serves to outline a comprehensive and integrated inclusive growth framework and apply it to the Asia-Pacific region. It also contains a discussion of policy options for achieving inclusive and sustainable growth.
Learning by doing: central bank digital currency in Thailand
Central bank digital currency (CBDC) has gained much attention among central banks as it could potentially improve efficiency inclusion and innovation in the financial system. The present paper contains a review of the CBDC journey of the Bank of Thailand (BOT) from the guiding principles to test results of the CBDC prototypes and challenges going forward. It provides insights with regard to the introduction of CBDC into the economy as well as how a public institution such as a central bank can go about exploring cutting-edge technologies for use in public policy.
Book review: How to achieve inclusive growth
Survey: The state of sustainable development in Asia and the Pacific
For decades the Asia-Pacific region has been driving global economic growth despite occasional setbacks such as the collapse of economies in Central Asia immediately following the breakdown of the Soviet Union in 1991 and the 1997–98 Asian financial crisis. Most of the countries in the region have also done well in achieving the Millennium Development Goals (MDGs). In fact the attainment of the single most critical MDG – halving the global poverty rate – was due to rapid declines in extreme poverty in the region.
Mainstreaming the sustainable development goals in Indonesia: An experience from the Ministry of Development Planning 2016-2019
The Sustainable Development Goals (SDGs) improved and expanded the Millennium Development Goals (MDGs). One of the lessons learned from MDGs is that the 2030 Agenda for Sustainable Development needed to be more comprehensive far-reaching and people-centred. Therefore the Sustainable Development Goals embrace the principles of universal integrated and interrelated social economic and environmental dimensions of development. Moreover progress towards the Sustainable Development Goals should benefit all people especially the vulnerable and the achievement of the Goals should involve all stakeholders and that ambition is contained in the pledge to leave no one behind.
Impact of taxes and transfers on inequality in the Asia-Pacific region
Governments that aim to adjust their fiscal policies to reduce inequality can look to several analytical tools that are being produced in Asia-Pacific countries including commitment to equity studies and public expenditure reviews. The present paper contains a review of studies for 12 Asia-Pacific countries. Consistent with previous research on the impact of fiscal policies on inequality the findings of the review show that policies such as targeted direct transfers education spending and tax policies that favour direct instead of indirect taxes are most effective at inequality reduction.
Early career researchers: Factors affecting consumer behaviour in mobile financial services in Bangladesh
The aim of the present paper is to identify the determinants of consumer behaviour of mobile financial services (MFS) in Bangladesh. Data used in the study were collected through an online survey. A total of 1460 users of MFS in Bangladesh participated in the survey during 2021. The findings of the study show that perceived usefulness has the strongest impact on customer satisfaction followed by perceived safety and perceived ease of use. Customer satisfaction however has the strongest impact on both continuance intention and recommendation intention followed by perceived usefulness and personal innovativeness. The findings have important policy implications for financial inclusion.
Editorial
I am pleased to present the first issue of the Asia-Pacific Sustainable Development Journal (APSDJ vol. 30 No.1) for 2023. The issue comes out at a critical juncture when the region is confronted with the challenges of changed global circumstances while still recovering from the devastations caused by the COVID-19 pandemic amid ongoing climate change-induced existential threats.
Growth, yield and environmental sustainability of cotton production in India: Performance and policy measures
This paper reviews the growth performance potential and environmental sustainability of cotton production in India. Using a decomposition analysis it provides a comprehensive picture of growth in the production of cotton from 1947 to 2021 and during various development phases. It also discusses the environmental sustainability of Bt cotton and the potential of organic cotton farming in addressing the challenges faced by cotton growers. The results from this study can be used to inform policymakers in framing policies to exploit the potential of this sector to generate additional employment and preserve the sustainability in cotton production.
Identification and prioritization of barriers to access international climate finance for Nepal
This study covers perceived and prioritized barriers to access climate funds using Nepal as a case for least developed countries. A comprehensive picture of the climate finance flow in Nepal is presented and barriers to access international climate finance are identified. These barriers are prioritized based on their importance and potentials to be removed. Out of the 63 identified barriers most prominent ones are inadequate ministerial coordination limited evidence-based research and limited understanding of public–private partnerships. Despite some successes in accessing climate finance key challenges remain. Among them are low disbursement inadequate information-base and limited choice of financial instruments.
Accelerating climate action in Asia and the Pacific for Sustainable Development
The Asia-Pacific region is in urgent need for enhanced climate ambition and action. Climate change-induced disasters e.g. heatwaves droughts typhoons and floods are increasingly undermining hard-won development gains. This paper provides a brief assessment of the region’s vulnerability and sets out the transformations needed for a net-zero carbon future in support of sustainable development. It recommends building regional frameworks or partnerships to support decarbonizing key sectors – energy transport and industry – and improve enabling conditions such as financing and monitoring. Multistakeholder cooperation on broad national policies and long-term strategies is also needed for the low-carbon and climateresilient transition.