Azerbaijan has set the course for the economy to reduce its dependence on oil by promoting new drivers of growth. By 2025, under the government's Strategic Roads Maps, a more diversified economy should take shape led by three sectors: agriculture, tourism, and manufacturing. Bold reforms need to strengthen areas of the economy that could otherwise impede this transition, and policy makers must resolutely stay on the reform path. The core message of this publication is diversification toward non-oil sources of growth alongside efforts to reduce macroeconomic risks and the high cost of finance, make the education system responsive to the needs of the labor market, close infrastructure gaps, and help economically significant state-owned enterprises become more efficient.
COVID-19 has revealed vulnerabilities in many different sectors and amplified the risk of cyber security attacks. As humanity turns to digital platforms and connectivity, the cyber domain becomes increasingly critical but challenging. Who takes responsibility for providing leadership in cyber security?
In fiscal year (FY) 2019 ERIA expanded the scope of its activities to help chart the future direction of ASEAN and East Asia. A review of ERIA's deliverables for FY2019 reveals that ERIA widely expanded its field of activities to help clear the path for the economic integration and development of East Asia. One such deliverable is the 'ASEAN Vision 2040' project. Based on its cooperation with the Ministry of Foreign Affairs of Thailand, ERIA provided a four-volume set of publications on the prospects of ASEAN and East Asia in 2040 from political-security, economic, and socio-cultural perspectives. In it ERIA proposed a message of collective leadership of the East Asia region, which means ASEAN centrality, for it to become the institutional hub for regional integration and economic and social development. The 34th ASEAN summit statement commended ASEAN Vision 2040 and provided recommendations on how to most effectively prepare ASEAN for the future, and in particular for the Fourth Industrial Revolution.
This paper analyses the economic impact of globalisation in Indonesia from the end of the 1960s to date. The analysis found that globalisation generated a positive impact on Indonesia's economic growth through the trade and investment channel; reduced wage inequality and child labour participation; and increased labour absorption, including women's participation in the labour market. Through the trade channel, globalisation also contributed to Indonesia's productivity and structural economic transformation, benefited small and medium-sized enterprises (SMEs), contributed to poverty alleviation and reduced inequality, and increased trade in services such as tourism. Through the investment channel, there is evidence of the spillover effect of technology transfer, technology progress, improvement of the role of SMEs, and contribution to poverty alleviation. The waves of open and more restrictive trade and investment policies, which Indonesia has gone through in the last few decades, reflect the political economy reality – that is, the impact of globalisation is dynamic and only felt in the medium term, whereas the cost and potential negative impact is often felt more immediately throughout trade creation. The trade creation increases imports from countries with which free trade agreements have been negotiated, thus decreasing the domestic producer surplus. Since globalisation will create net benefits in the long run, Indonesia should continue its process of globalisation and integration with the world economy to ensure the net benefits and to move forward in its structural transformation, while managing the costs of globalisation and its transition process.
While the impact of the COVID-19 pandemic is yet to subside, governments in major countries have put in place the largest-ever economic stimulus packages to overcome the pandemic. As of August, the U.S. is preparing an estimated US$2.3 trillion stimulus package that will amount to 13.2% of its GDP. EU leaders agreed to create €750 billion economic recovery funds (4.3% of GDP). China and Korea have established stimulus plans for 4.5% (RMB 4.6 trillion) and 14% (KRW 270 trillion) each of their respective GDP. These expansionary fiscal policies respond to a sharp drop in demand and aim to safeguard domestic industries and jobs, as well as to foster each country's new growth engine.
Singapore, a multiethnic country with one of the highest median incomes in the world, is undergoing a demographic shift. Twenty-five percent of the population is predicted to be aged 65 and older by 2030, versus 14.4% in 2019. This demographic shift has profound implications on the country's health and care needs. In response, Singapore has been moving toward a more holistic view of aging, health, and care, along with policies and systems related to these.
The Asian Development Bank (ADB) launched its first theme bond (water) for sustainable development in 2010 in response to a growing demand among its investor base to highlight certain key initiatives. Since launching the water bond, ADB has expanded its theme bond offerings to include health and gender bonds. Water bonds support projects under the Water Financing Program and highlight ADB's efforts to address water sanitation needs in Asia and the Pacific. Health bonds are used to finance ADB projects tackling health challenges in the region. Gender bonds finance projects that promote gender equality and the empowerment of women. The projects funded by theme bonds are aligned with the Sustainable Development Goals (SDGs) adopted by the United Nations General Assembly on gender equality, clean water and sanitation, and good health. "The healthy demand for our theme bonds shows a clear desire among investors to see funds committed to projects that will help ensure sustainable growth in the region," said ADB Treasurer Pierre Van Peteghem. "Through the issuance of these bonds, ADB is demonstrating that we can integrate clean water, gender equality, and health considerations into our funding operations. Incorporating these concerns into ADB's work is essential in our mission to promote sustainable and inclusive growth in Asia and the Pacific," he added.
Tobacco Industry (TI) is constantly evolving strategies to outwit all the efforts to make this world tobacco-free4, 12. Under the garb of 'harm reduction', the tobacco companies have been attempting to rehabilitate their reputation to influence the government to soften their policies or create exemptions for products such as HTPs. Such efforts are intended at renormalization of the tobacco products and increase social acceptability. The industry is more actively yet discretely exploiting the policy gaps, regulatory loopholes, and enactment of stricter laws especially in those countries where the implementation of such laws is weak, or non-existent. Pakistan continues to be an example where multiple laws exist, however, its sluggish implementation as well as excessive TI influence in taxation adds to the defiance space. Pursuant to these developments in the tobacco market, WHO in a report on the Global Tobacco Epidemic in 2019,13 claimed that there is 'insufficient independent evidence to support the use of [E-Cigarettes] as a population-level tobacco cessation intervention to help people quit conventional tobacco use'; these products are 'undoubtedly harmful'. This report further concluded that there is a similarity between the toxic chemicals emitted through regular smoking and HTPs, and there is no evidence that these products will reduce tobacco-related diseases.13 Sustainable Development Policy Institute (SDPI) shares the commonality of the views with the authentic opinion and positions taken by the leading international health experts, including WHO and The Union, and aspires to highlight the localized context concerning Pakistan. This is our first study in this regard and we intend to contextualize the issue of ENDS/ENNDS with specific problems and the tobacco control environment in Pakistan. We also intend to highlight that the current studies and policy proposals are focused on the evidence generated/collected and analyzed concerning the High-Income Countries (HICs) whereas there are evidence and policy void related to the LMICs. The urgency to address this gap is further hastened by the fact that the TI is aggressively and consciously introducing these products in the market. Many policymakers and legislators and those proposing the policies lack the comprehensive understanding, capacity, and requisite knowledge about the health, social and cultural effects of these products on the youth, existing smokers and beginners. In the presence of such a murky environment with conflicting interests of multiple segments of the society and government, SDPI recommends an urgent need for discussion and policy development in handling the E-Cigarettes and HTPs.
Since the fund was established, 30 projects amounting to $12.5 million have been approved for funding. See Appendix 2 for list of projects funded under FSDPSF. The projects are concentrated in the following subsectors: finance sector development, SME finance and leasing, infrastructure finance and investment funds, and inclusive finance.
International audience ; The transfer of scientific material and data, which are scientific inputs, is fundamental to knowledge creation dynamics. This transfer is being controlled, more and more, by the use of Material Transfer Agreements (MTAs). Therefore, the effect of MTAs on the dynamic of knowledge creation is an important concern. The aim of this research is to characterise the restrictions imposed by MTAs, and their determinants. We consider MTA diversity based on a comprehensive analysis of the clauses included in 171 MTAs signed by two French universities. We show that the clauses included in MTAs depend on several factors such as kind of material involved, research field, patenting and collection of material. We find that the presence of an industry actor is not associated to more restrictions on publication and intellectual property. We propose a typology of MTAs corresponding to different transfer situations. We discuss the role of MTAs as collaborative tools and the influence of the legal, scientific, political and organisational context.
ADB strategic objectives and priorities. The strategic objectives of the country partnership strategy (CPS), 2019–2023 of the Asian Development Bank (ADB) are to foster economic diversification and reduce spatial and social disparities. The CPS will focus on three strategic priorities: (i) dynamic economic reforms to foster a resilient and diversified economy, (ii) improved connectivity to provide access to information and markets, and (iii) greater inclusiveness through more equitable socioeconomic development. Paras. 30–43 elaborate the areas of assistance related to these priorities.
This study assesses the implementation of selected agribusiness venture arrangements (AVAs) and identifies the prerequisites needed to ensure that the adoption of AVAs will improve farm income and productivity, thereby enhancing sustainability of the agrarian sector. As such, a framework for AVAs was devised considering the supply chain, the policy environment, and the global market influence. Using a case study approach, the study focused on two export crops—banana and pineapple—that were selected based on their significant contribution to the Philippines' export earnings and gross value added of agriculture. In particular, the AVAs considered in the study were lease/leaseback and growership arrangements for banana and pineapple. The study notes several issues on production and capital investments, marketing and pricing, institutional support, and contract terms that affect the implementation of AVAs. It recommends that AVAs should be encouraged but government has to provide a policy environment for Philippine export crops to be competitive. Agrarian reform beneficiaries and their associations should also be supported through capacity-building activities and access to legal advice.
This publication reviews recent developments in East Asian local currency bond markets along with the outlook, risks, and policy options. It covers the 10 members of the Association of Southeast Asian Nations and the People's Republic of China; Hong Kong, China; and the Republic of Korea.
This publication reviews recent developments in East Asian local currency bond markets along with the outlook, risks, and policy options. It covers the 10 members of the Association of Southeast Asian Nations and the People's Republic of China; Hong Kong, China; and the Republic of Korea.
The ASEAN+3 Bond Market Guide series provides country-specific information on the investment climate, rules, laws, opportunities, and characteristics of local bond markets in Asia and the Pacific. It aims to help bond market issuers, investors, and financial intermediaries understand the local context and encourage greater participation in the region's rapidly developing bond markets. This edition focuses on the exchange bond market in the People's Republic of China, which is one of the country's most important bond markets and one of only two that are accessible to foreign investment.
