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Economic and Social Survey of Asia and the Pacific 2018

Mobilizing Finance for Sustained, Inclusive and Sustainable Economic Growth

image of Economic and Social Survey of Asia and the Pacific 2018

Sustainable Development Goal 8 calls for promoting sustained, inclusive and sustainable economic growth. These three aspects of economic growth correspond to the three pillars of sustainable development: economic resilience, social inclusiveness and environmental sustainability. The region has made tremendous progress on the economic front. However, economic inequality within and among the region’s economies has increased, and rapid expansion of economic output has contributed to untenable levels of environmental degradation. The Survey shows that this is an opportune time for governments to initiate policies that can make economies resilient, inclusive and sustainable. It contains analyses of such issues and explores policy options.

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Selected issues in financing for development: A subregional perspective

The previous chapter highlighted various estimates of the considerable investment gaps that developing countries face while pursuing implementation of the 2030 Agenda, and subsequently explored ways to help mobilize development finance for closing such gaps. Under the same conceptual framework, this chapter contains an examination of medium-term aspects relating to financing for development from the perspective of Asia-Pacific subregions. The focus of the chapter is motivated by the fact that the Asia-Pacific region is vast and diverse, and different subregions and countries have varying capabilities in terms of implementing the policy options discussed in chapter II. The region is home to some of the world’s largest economies, such as China and India, where changing economic conditions or policies have notable implications at the regional as well as global levels. More importantly, the policy priorities of larger economies and the capacity to undertake a range of policy initiatives are considerably different from that of other relatively smaller countries in the region.

English

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