Call for Papers on Effective Public Debt Management and Fiscal Sustainability in the Post-COVID-19 Era

Effective Public Debt Management and Fiscal Sustainability in the Post-COVID-19 Era
Asian Development Bank Institute, Asian Development Bank, Korea Development Institute

The ballooning of public debts due to the COVID-19 pandemic and an imbalanced recovery has led to post-pandemic debt vulnerability and fiscal sustainability challenges. The upward pressure of interest rates in developed economies could increase debt vulnerability in developing economies as capital outflows search for higher yields, with negative ramifications for fiscal sustainability. The currency composition of government debt and the behavior of foreign investors in local currency bond markets are also important considerations.

Limited policy space will require a re-think of the existing fiscal framework and the formulation of alternative debt management strategies. Domestic public debt market development through regulatory reform could increase investor participation and demand in these markets, contributing to lower costs in financing government expenditure and more diversified risk. In addition, green bond issuance in the rapidly growing environmental, social, and governance market could be a new instrument to finance recovery plans, while flexible fiscal rules could widen fiscal policy space for recovery.

The Asian Development Bank Institute (ADBI), the Asian Development Bank (ADB), and the Korea Development Institute (KDI) are seeking original, unpublished research paper submissions on public debt management and fiscal sustainability in the post COVID-19 era, with a focus on Asia and the Pacific. Topics of interest include, but are not limited to:

Arrangements for Selected Papers

Selected papers will be featured during a virtual conference hosted by ADBI on 2-4 March 2022.

Papers presented at the conference will be considered for publication as ADBI working papers and inclusion in an ADBI book.

Submission Procedure

Authors should submit full papers using this link by 20 January 2022. Please indicate if you would like your paper to be considered for inclusion in the ADBI book.

Authors of selected papers will be notified by 31 January 2022.

Papers will be selected by the project organizing committee:


Inquiries may be directed to John Beirne.


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