A new Think 20 (T20) policy brief co-authored by ADBI’s Peter Morgan and Nella Hendriyetty urges coordinated and comprehensive fiscal policies to address the pandemic-driven economic crisis. It proposes short and long-term actions, including health-related fiscal stimulus and stabilizing monetary policies. It also advocates measures that could help promote infrastructure financing, narrow income gaps, and deliver financial support to severely affected sectors to foster resilient and inclusive post-pandemic growth. The policy brief was also co-authored by former ADBI Dean Naoyuki Yoshino and the Australia-China Belt and Road Initiative’s Jean Dong.
Authors discussed insights from their new book, Macroeconomic Stabilization in the Digital Age, during a launch webinar on 19 November. The co-editors, John Beirne of ADBI and David Fernandez of Singapore Management University, and a panel of the books’ contributors discussed the challenges posed by accelerating digitalization for macroeconomic policy makers across Asia and globally. They highlighted the implications of financial technology growth for macroeconomic stability and its impact on the transmission of monetary policy. They also shared views on financial stability risks related to digital payments systems. The book can be downloaded for free.
Extending digital financial education to disadvantaged groups will be key to advancing financial inclusion in the digital age, according to a new Think 20 (T20) policy brief authored by ADBI’s Peter Morgan and Long Trinh and ADB’s Bihong Huang. It discusses the increasing need to address disparities in digital financial literacy (DFL) in light of pandemic-accelerated digitalization. It also details policy recommendations, including DFL standardizing measures, identification of the vulnerable, and targeted education programs delivered in coordination with Big Tech, non-governmental organizations, and financial institutions to promote an inclusive digital economy.
A new Think 20 (T20) policy brief co-authored by ADBI’s Deputy Dean Chul Ju Kim and Pitchaya Sirivunnabood details strategies for addressing workforce and fiscal sustainability pressures linked to accelerating demographic transition. It urges productivity enhancement by promoting inclusive labor participation via the female workforce and a higher retirement age, as well as education, training programs, and skill development. Fiscal and comprehensive social security and healthcare reforms will be crucial for achieving fiscal sustainability in the face of rapid population aging, it adds.
Policy makers and experts discussed regulations and standards for facilitating post-pandemic trade during a three-day ADBI-ADB-World Trade Organization (WTO) regional policy dialogue that concluded on 13 November. ADB Vice President Bambang Susantono described ways to leverage trade to mitigate COVID-19 and the trade implications of accelerating digitalization. Other participants examined efforts to stabilize medical supply chains and tourism, as well as international organizations’ responses to trade flow disruptions due to COVID-19 containment measures. Transparent policy actions, closer international coordination, and harnessing digital technologies will be crucial for promoting shock-resistant global trade and recovery, they concluded.
- Overcoming the challenge of energy efficiency financing in Asia
- World competition among cities: City trends and the framing of a livable city
- Exploring the link between climate change and sovereign risk
- COVID-19 reminds us to prioritize “water supply, sanitation, and hygiene” (WASH) to reduce child mortality
- Diversification of solar PV suppliers for sustainable energy during the COVID-19 crisis
- Stepping up civil service reforms in Myanmar
- The impacts of COVID-19 on financial stability and regional financial safety nets in ASEAN
- ADBI Featured Speaker Webinar: Household Earnings and Regional Disparities: Insights from India's Periodic Labor Force Survey
- Virtual Regional Conference on ASEAN Plus Three Economies in Post-COVID-19 New Normal
- ADBI Sessions at the ADBI-Chu Hai College Conference on Recent Advances in International Trade, Finance, Business, and Regional Cooperation 2020
- 2020 ADBI Annual Conference: The Impacts of the COVID-19 Pandemic and its Policy Implications
Macroeconomic Stabilization in the Digital Age
Policy makers need to be aware of the increasing prominence of the digital economy and digital finance and seek to better understand how continued digitalization will affect policies aimed at managing the economy.
Climate Change and Sovereign Risk
Governments must climate-proof their economies and public finances or potentially face an ever-worsening spiral of climate vulnerability and unsustainable debt burdens.
Energy Insecurity in Asia: Challenges, Solutions, and Renewable Energy
Relying on fewer energy resources, especially fossil fuels, will enhance energy insecurity for resource-poor economies.
- Macroeconomic Stabilization in the Digital Age
- ADBI-Led T20 Policy Briefs Promote G20 Pandemic Recovery
- Report on Climate Change and Sovereign Risk Explained
- Introducing ADBI E-Learning’s Course on Demographic Transition and its Impacts
- Introducing the Book Growing Central Bank Challenges in the World and Japan: Low Inflation, Monetary Policy, and Digital Currency
- Introducing the Book Environmental, Social, and Governance Investment: Opportunities and Risks for Asia
- The G20’s think tank network is laying the groundwork for evidence-based recovery breakthroughs
- Mastering the art of post-pandemic infrastructure policymaking in politically charged environments
- What Asia can do to strengthen safeguards for its COVID-19 vulnerable aging societies
- Surveys spotlight pandemic impacts and pathways for recovery in developing Asia
- How Asia can finally deliver sustainable sanitation for all
- As pandemic bonds hit the market, what can Asia do to ensure its green bond growth potential?