Economic Corridor Development for Inclusive Asian Regional Integration: Modeling Approach to Economic Corridors
The experience of economic corridors development from across the world can be of help for similar initiatives in Central and Southeast Asia.
This publication looks at the experience of economic corridor development from across the world, including successful economic corridor developments in the European Union and South Asia Subregional Economic Cooperation (SASEC) regions. In these cases, detailed models were constructed to assess the economic impact of corridor investments, leading to a framework for evidence-based policy analysis.
When a model and data framework is built, policy makers and stakeholders pursuing measurable outcomes can assess progress and outcomes. Such a process is highly likely to generate successful economic corridor development.
Lessons for Central and Southeast Asia
Two priority regions in Asia, the Greater Mekong Subregion (GMS) and the Central Asia Regional Economic Cooperation (CAREC), face different opportunities.
The GMS is covered by very good spatial planning data, at numerous sector layers (for instance agriculture, energy, environment, population, tourism, transport, and urban, among others). A combination with as yet missing traffic flow and trade data opens up the exploration of opportunities to widen the existing transport corridors into economic-sector-embedded corridors. One opportunity, for example, is to invest in ecotourism corridors, which take advantage of the concentration of cultural heritage sites in the region, which could, in turn, lead to more developments. In other words, linking internal poor areas to coastal market agglomerations generates demand.
While the Russian Federation has historically been the main trading partner for Central Asian economies, CAREC has high potential as a natural bridge between East Asia and Europe.
With the growing integration of the People's Republic of China's Western provinces with the country's East coast, the importance of PRC extending production networks into Central Asia is rising, along with opportunities to do so. Furthermore, low economic density suggests that there are opportunities for hub-and-spoke economic corridor development approaches.
- Executive Summary
- How to Make Economic Corridors Work in Asia’s Regions?
- Economic Corridors Data Case
- Case Study on European Union Experience
- Evaluating Investments in Economic Corridor Development: Lessons from the South Asia Subregional Economic Cooperation Study
- Future of Global Value Chains in the Greater Mekong Subregion
- The Greater Mekong Subregion Economic Corridors—Operationalizing Spatial Planning Tools for Environmentally Sound Corridor Investment
- Central Asia Regional Economic Cooperation Case Study—Bringing the Economic Corridor in from the Cold?