Asian Development Outlook 2021 Background Papers

  Asian Development Outlook (ADO) 2021: Financing a Green and Inclusive Recovery

The Asian Development Outlook 2021 theme chapter is on “Financing a Green and Inclusive Recovery” The background papers and notes for the theme chapter are made available here to communicate the results of the underlying research work with the least possible delay. These manuscripts therefore have not been prepared in accordance with the procedures appropriate to formally-edited texts.

The findings, interpretations, and conclusions expressed in these papers do not necessarily reflect the views of the Asian Development Bank (ADB), its Board of Governors, or the governments they represent. The ADB does not guarantee the accuracy of the data included in these documents and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned.

Any designation of or reference to a particular territory or geographic area, or use of the term “country” in these documents, is not intended to make any judgments as to the legal or other status of any territory or area. Boundaries, colors, denominations, and other information shown on any map in these documents do not imply any judgment on the part of the ADB concerning the legal status of any territory or the endorsement or acceptance of such boundaries.

Background Papers

•   Sustainable Finance: A Primer and Recent Developments
  by Alex Nicholls
•   Policies, Initiatives, and Regulations Related to Sustainable Finance
  by Alex Nicholls
•   Impact Measurement and Management in Sustainable Finance
  by Alex Nicholls
•   The Price of Carbon Risk: Evidence from the Kyoto Protocol Ratification
  by Bohui Zhang
•   The Effects of Green and Social Finance on Firms, Markets and the Economy
  by Dragon Yongjun Tang
•   Green and Social Finance Development around the World
  by Dragon Yongjun Tang
•   Green Finance, Innovation, and Firm Performance: Evidence from Republic of Korea
  by Jihong Lee, Donghyun Park, and Shu Tian
•   Large Fiscal Episodes and Sustainable Development: Some International Evidences
  by Joshua Aizenman, Yothin Jinjarak, Hien Nguyen, and Donghyun Park
•   Differentiated Bank Regulation and Small and Medium-Sized Enterprises Financing
  by Yu Wu and Bihong Huang
•   Green Bond, Air Quality and Death: Evidence from People's Republic of China
  by Yan Luo, Shu Tian, and Hao Yang
•   Microfinance and Consumption Inequality: Evidence from People's Republic of China
  by Yan Luo, Shu Tian, and Ningyu Zhou

Background Notes

•   Green, Social, and Sustainability Bonds: Market Overview and ADB’s Participation
  by Frederic Asseline and Bradley Hiller
•   Green Islamic Bonds
  by Dina Azhgaliyeva
•   Green SME Financing, including Post-COVID-19 Aspects
  by Sung Su Kim
•   Corporate Green Bonds in Asia
  by Caroline Flammer
•   Developing Social Impact Bonds to Tackle Emerging Social Needs and Promote Social Welfare
  by Roselle Care
•   Carbon Pricing
  by Virender Kumar Duggal
•   Carbon Finance
  by Harald Heubaum and Ulrich Volz
•   Domestic Resource Mobilization for Supporting Developing Members to Achieve Sustainable Development Goals
  by Go Nagata
•   Developing Infrastructure and Ecosystem for Asia’s Green and Social Finance Market
  by Kosintr Puongsophol
•   Microfinance and Social Development: A Selective Literature Review
  by Le Thai-Ha
•   The Asian Development Bank's Green Finance Initiatives and Their Impacts
  by Anouj Mehta and Marina Lopez Andrich