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Decent Work and Economic Growth
Policy Approaches to Direct Digital Frontier Technologies Towards Inclusive and Sustainable Development
During the COVID-19 pandemic digital frontier technologies such as artificial intelligence and big data analytics amongst others have been mobilized to fight against the pandemic. But it is also important that digital technologies serve the needs of the Sustainable Development Goals. This report reviews the status of digital frontier technologies in the Asia-Pacific region. It stresses that the policy framework for the next generation of technology and innovation should focus on creating an enabling environment for digital frontier technologies to positively impact economy society and environment; and to reduce inequalities.
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.
Policy priorities
While there are question marks over the scale and pace of the digital frontier technological transition it would be prudent for governments to be prepared and to put effective policies in place. As stated by the Nobel laureate Robert Shiller “[w]e cannot wait until there are massive dislocations in our society to prepare for the Fourth Industrial Revolution” (Hutt 2016).
Executive summary
During the COVID-19 pandemic digital frontier technologies such as artificial intelligence (AI) and big data analytics amongst others were mobilized to fight against the pandemic. To build back better from the pandemic and meet the ambitions of the 2030 Agenda for Sustainable Development it is imperative to ensure that these technologies are also directed towards inclusive and sustainable development objectives.
Introduction
There is no universally agreed definition of what comprises frontier technology. However a recurring common feature across the different technological advances is that they all “have the potential to disrupt the status quo alter the way people live and work rearrange value pools and lead to entirely new products and services” (Manyika and others 2013).
Conclusion
This report shows that digital frontier technologies hold great promise for contributing to sustainable development. However there are challenges particularly regarding the future of work and jobs.
Challenges of harnessing digital frontier technologies for sustainable development
To effectively develop and implement digital frontier technologies for sustainable development challenges vary depending on the context in a country or industry. This section covers three common areas where impacts of digital frontier technologies may not necessarily produce sustainable development results namely 1) the impacts of digital frontier technologies on jobs 2) a new digital frontier technology divide and 3) issues of ethics and trust.
Acknowledgements
This report was prepared under the overall direction and guidance of Ms. Rupa Chanda Director Trade Investment and Innovation Division of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). The report was prepared by Jonathan Wong Chief Technology and Innovation Section of the Trade Investment and Innovation Division (ESCAP) and Tengfei Wang Economic Affairs Officer Technology and Innovation Section of the Trade Investment and Innovation Division (ESCAP). Research assistance formatting of the report and other support was provided by Phadnalin Ngernlim (ESCAP). Anoushka Ali edited the report.
Introduction (English)
The objective of this publication is to present current monthly economic and social statistics for most of the countries and territories of the world. In addition each month a selection of tables shows annual and/or quarterly data on subjects illustrating important socio-economic trends and developments.
UNESCO: A Braided River
On the eve of International Women’s Day UNESCO launched a one-of-a-kind and richly illustrated publication entitled A Braided River: The Universe of Indian Women in Science. The book showcases the fact that much of India’s success in science technology engineering and mathematics (STEM) can be attributed to the passion and talent of its women scientists. It also examines in details the challenges they face and provides actionable recommendations to promote and retain women in science education and careers. In addition to insightful research and findings the book features captivating photographic portraits of some 60 Indian women scientists and provides suggestions to enhance their participation in science research and industry. The substance of the Report has been developed by an experienced team led by Rao R. Bhavani UNESCO Chair in Gender Equality and Women’s Empowerment Amrita Vishwa Vidyapeetham India under the guidance of UNESCO New Delhi.
Conclusion
We conclude this book by re-emphasizing the urgency and importance of improving the status of women in science. This publication is part of a long history of research and recommendations within the larger conversation on gender equality but is unique in its particular focus on the Indian context and its review of the gaps and promising practices of existing efforts. We make the point again that now more than ever collaboration between stakeholders is required to ensure the best possible programmes are funded and the general public encouraged to take part in this collective goal. We conclude on a hopeful note reminding readers of the great potential of Indian science and the role that gender equality will play in reaching this potential.
Towards a fairer future
Two years of the COVID-19 pandemic have underlined the urgency of reducing the persisting and deep-rooted socioeconomic divides across Asia and the Pacific.