Harnessing Digitalization for Sustainable Economic Development: Insights for Asia
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Digital transformation can raise the productive capacities of economies in Asia, helping to enhance trade, financial inclusion, and firm competitiveness.
Harnessing Digitalization for Sustainable Economic Development: Insights for Asia describes digitalization’s role in raising the productive capacities of economies. It examines how digital transformation can enhance trade, financial inclusion, and firm competitiveness, as well as how greater digital infrastructure investment, internet connectivity, and financial and digital education in the region can maximize digitalization’s economic benefits. It also explains the importance of striking the right balance between the regulation and supervision of financial technology to enable innovation and safeguarding financial stability and consumer protection.
Part I of the book seeks to build an understanding of digitalization’s effects on macroeconomic performance, including through trade channels and financial inclusion. Part II examines automation and the impact advancements in digital technology can have on firms via technology spillovers and the labor market. Finally, Part III highlights onward policy challenges for achieving sustainable and inclusive economic development outcomes amid accelerating technological change and demand for a more digitalized economy.
- 1. Introduction by John Beirne and David G. Fernandez
- Part I: Digitalization, Economic Development, and Trade
- 2. Digitalization and the Economic Performance of Two Fast-Growing Asian Economies: India and the People’s Republic of China by Dukhabandhu Sahoo, Suryakanta Nayak, and Jayanti Behera
- 3. Is Digital Financial Inclusion Good for Bank Stability and Sustainable Economic Development? Evidence from Emerging Asia by Hasanul Banna and Md Rabiul Alam
- 4. Digital Financial Inclusion, Economic Freedom, Financial Development, and Growth: Implications from a Panel Data Analysis by AG Rekha, K. Rajamani, and AG Resmi
- 5. Bayesian Gravity Model for Digitalization on Bilateral Trade Integration in Asia by S.P. Jayasooriya
- 6. Impact of Information Technology and E-Commerce on Indonesia’s Trade with ASEAN Countries by Yulya Aryani, Wina Andari, and Suhindarto
- Part II: Firms, Technology Spillovers, and the Labor Market
- 7. Three Challenges to Manufacturing Digitalization and How to Overcome Them: Lessons from Small and Medium-Sized Enterprises in the People’s Republic of China by Yasheng Huang and Meicen Sun
- 8. Information Technology and the New Capitalism by James Bessen
- 9. Technology Spillovers, Asset Redeployability, and Corporate Financial Policies by Phuong-Anh Nguyen and Ambrus Kecskés
- 10. Labor Skills, Economic Returns, and Automatability in Thailand by Theepakorn Jithitikulchai
- 11. Can the Internet Increase the Working Hours of Married Women in Micro and Small Enterprises? Evidence From Yogyakarta, Indonesia by Eny Sulistyaningrum, Budy P. Resosudarmo, Anna T. Falentina, and Danang A. Darmawan
- Part III: Digital Challenges and Opportunities for Macroeconomic Policy Makers
- 12. An Integrated and Smart Association of Southeast Asian Nations: Overcoming Adversities and Achieving Sustainable and Inclusive Growth by Cyn-Young Park and Bernard Yeung
- 13. New Financial Technologies, Sustainable Development, and the International Monetary System by Eswar Prasad
- 14. Forecasting Private Consumption with Digital Payment Data: A Mixed-Frequency Analysis by Debasis Rooj and Reshmi Sengupta
- 15. Challenges and Opportunities for Digital Transformation in the Public Sector in Transition Economies: The Case of Uzbekistan by Gulnoza Kuldosheva