Innovation and Inclusion for a Prosperous Asia: Highlights of the 1st ADB-Asian Think Tank Development Forum

Innovation and Inclusion for a Prosperous Asia was the theme of the 1st ADB-Asian Think Tank Development Forum held on 30-31 October 2013 at the Tangla Hotel in Beijing. The forum was organized by ADB in partnership with the Asia-Pacific Finance and Development Center Beijing Office, a think tank of the People’s Republic of China’s Ministry of Finance.

This publication documents the discussions on the latest global and regional policy developments and country-specific experiences and policy issues on innovation and inclusion. It serves as an instrument to facilitate the continued successful exchange of information and ideas.

Highlights

All countries must join hands to push forward the recovery of the global economy. For instance, the People's Republic of China (PRC) gives greater emphasis to innovation and inclusive growth after experiencing rapid economic growth and development. With innovation being key to its economic restructuring, the PRC needs to deepen reforms and pursue an inclusive growth model.

There is no standard strategy for all as it is important for countries to adapt successful models to their national contexts. Moreover, emerging economies trying to enhance innovation should also consider policies that target the needs of their lower-income populations because, in addition to complementing traditional technological catch-up learning strategies, innovation contributes to inclusive development.

While high growth has led to a large reduction in poverty, it has been accompanied by rising inequality in many countries. Technological progress, globalization, and market-oriented reforms have created vast opportunities and driven rapid growth, but they have also had significant distributional impact and, further, this impact has been compounded by unequal access to opportunity because of social exclusion.

Think-tank network

The participating think tanks unanimously supported the establishment of such a network. The network is expected to give ADB and member think tanks access to regional and country-specific knowledge that will enrich their respective research work and capacity to provide policy advice.

The agreed next steps include launching a website, preparing and disseminating the e-newsletter, and holding a second forum in 2014 as this will become an annual event. The Korea Development Institute of the Republic of Korea will co-host the 2nd ADB-Asian Think Tank Development Forum.