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Republic of Korea needs green finance to meet climate change commitments Aug 21, 2019

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Citizens of the Republic of Korea know the country needs to change how it generates energy. They breathe in evidence of that need every day. Ultra-fine dust covers the whole country; more of it than in any other country in the OECD. As a recent working paper for the Asian Development Bank Institute points out, companies and private citizens have yet to fully endorse the idea of going green despite more than two decades of government efforts to address climate change. Read the transcript https://bit.ly/2MvORro Read the working paper https://bit.ly/2P8Zhzv About the authors Deokkyo Oh is a research fellow at the Korea Corporate Governance Service in Seoul. Sang-Hyup Kim is an adjunct professor at the Korea Institute for Advanced Science and Technology in Seoul. Know more about ADBI’s work https://bit.ly/2V1rgzl https://bit.ly/31r51WD

Spillover taxes could help boost green energy projects in Asia Aug 14, 2019

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Green energy projects need innovative funding methods if they are to succeed in Asia. One option governments could consider is to plow additional taxes generated by green energy projects back into those projects. Read the transcript https://bit.ly/2H2AJBt Read the working paper https://bit.ly/33tRZt3 About the authors Naoyuki Yoshino is the dean and chief executive officer of the Asian Development Bank Institute and professor emeritus of Keio University in Tokyo. Farhad Taghizadeh-Hesary is an assistant professor at the Faculty of Political Science and Economics of Waseda University in Tokyo. Related videos https://bit.ly/2mRi1Uv https://bit.ly/2srrlBL Know more about ADBI’s work https://bit.ly/33xQhak https://bit.ly/2yWEvrN https://bit.ly/2Z7kGwu

Singapore started well but more is needed to become a green finance hub Aug 07, 2019

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Singapore wants to be a hub for green finance in Asia. The launch of two successful “green” bonds signaled that intention but serious work is still required to bring the goal closer to reality. The city-state is already a financial hub for the region. Becoming a center for green financing is a laudable goal but the hurdles Singapore faces are not small. Read the transcript https://bit.ly/31peJbT Read the working paper https://bit.ly/2Ti95pi About the authors Youngho Chang is the Head of Business and Management Minors, School of Business, Singapore University of Social Sciences. Know more about ADBI’s work https://bit.ly/31r51WD https://bit.ly/2Kv2cNn

The effect of services needs to be updated in economic activity data to avoid bad decisions Jul 31, 2019

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The idea that manufacturing is superior to services for powering a country’s economy has long been taken as a given. That’s why some economists have issued warnings about developing countries experiencing what they call premature deindustrialization. In those countries, they see service activity overtaking manufacturing before a proper manufacturing economy has taken hold. But what if the way services are measured no longer reflects modern production? And what if services don’t deserve to be relegated to a lesser form of production anyway? Read the transcript https://bit.ly/2KeCFYz Read the working paper https://bit.ly/2OrCE8R About the authors Valerie Mercer-Blackman is a senior economist at the Asian Development Bank. Christine Ablaza is a doctoral student at the University of Queensland in Brisbane. Know more about ADBI’s work https://bit.ly/2YuWWhH https://bit.ly/2YufPRH

Peer-to-peer lending could help small firms find funds, but careful handling is needed Jul 25, 2019

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Small and medium-sized companies have trouble raising money and that’s a problem, since they account for a large part of the global economy. If there was a way to make it easier for them to get cash, everyone would benefit. Peer-to-peer lending could be one answer. P2P lending, as it is known, matches investors with individuals and companies looking for funds. It’s an internet-based process that is part of a booming field called financial technology, or fintech for short. Read the transcript https://bit.ly/2YljVzH Read the working paper https://bit.ly/2Yn5U4E About the authors Naoko Nemoto is a financial economist at the ADBI. David Storey is a graduate student of economics at the University of Warwick and former research associate at ADBI. Bihong Huang is a research fellow at ADBI. Know more about ADBI’s work https://bit.ly/2Y8aQuY https://bit.ly/32R3FpF

Trade in services should be encouraged for sustainable development goals Jul 18, 2019

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Trade in services, and not just merchandise, needs to be encouraged so that countries can meet the Sustainable Development Goals targeted by the United Nations for 2030. Trade liberalization is key to many of the 17 areas addressed in the 2015 agreement, whether directly or implicitly. The goals set out in the agreement cover a range of topics, from poverty reduction to improving public health and protecting the environment. Read the transcript https://bit.ly/2XSz0o7 Read the working paper https://bit.ly/2LrWMWe About the authors Matteo Fiorini is a Fellow at the Robert Schuman Centre for Advanced Studies of the European University Institute. Bernard Hoekman is a Professor and Director at the institute. Know more about ADBI’s work https://bit.ly/2XJHJ0F https://bit.ly/2LZCEKv

Routinization's impact on labor shares in developing vs developed Asia Jul 10, 2019

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Routinization is the process where technological advances become cheap enough that they can be used to replace the routine tasks done by workers. Listen to how this affects developing vs developed Asia. Read the transcript https://bit.ly/2S3LJD4 Read the working paper https://bit.ly/2YRnmLi About the author Mitali Das is a deputy division chief at the International Monetary Fund. Know more about ADBI’s work https://bit.ly/2JnpMfr

Japan’s declining labor share attributed to conditions in growing service industries Jul 02, 2019

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Economists have been trying to figure out why the share of income taken by workers has been declining in many economies. While global growth has continued to make the pie bigger, the share of that pie dished out for labor has shrunk in many places. It’s an important issue, since greater inequality is usually the result when workers are getting less of the pie but the owners of the businesses they work for are taking home a bigger slice. Read the transcript https://bit.ly/2X6bBzi Read the working paper https://bit.ly/2ZJ79rH About the authors Kyoji Fukao is a professor of economics at the Institute of Economic Research of Hitotsubashi University. Cristiano Perugini is an associate professor at the University of Perugia. Know more about ADBI’s work https://bit.ly/2XDWp0E

T20 delivers recommendations to Prime Minister Abe, informs G20 Summit Jun 26, 2019

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On the eve of the G20 summit in Osaka, representatives of the Think20, the G20’s research and policy advisory network, met with Japan Prime Minister Abe Shinzo to discuss T20 policy recommendations for consideration by G20 leaders during the proceedings. ADBI Dean and T20 Japan Chair Naoyuki Yoshino was among them and will champion T20 proposals during the G20 summit in Osaka. Read the transcript https://bit.ly/2IIzBo9 Visit the T20 website https://t20japan.org

T20 Japan ignites a G20 quality infrastructure boom Jun 20, 2019

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Rapid development is spiking global infrastructure demand and driving policy makers to seek trillions of dollars in funding for projects ranging from roads, ports, and airports to water and sanitation systems to digital networks. Greater productivity, poverty reduction, and inclusive growth hinge on meeting these financing needs and advancing the build-up of quality infrastructure, says ADBI Dean Naoyuki Yoshino, who is the Chair of T20 Japan and lead co-chair of its infrastructure policy task force. Read the transcript https://bit.ly/2MZrS9m Visit the T20 website https://t20japan.org Read Task Force 4: Economic Effects of Infrastructure Investment and its Financing https://bit.ly/2FmyMiv

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