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More work is needed to help local renewable power projects succeed Mar 28, 2019

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Liberalizing energy markets so that locally generated renewable energy projects have a chance to compete with big utilities is only the first step in getting those projects off the ground. Other policies are needed to ensure the participation of local politicians and consumers. Those policies should promote financial returns from local power suppliers that are large enough to compete with traditional suppliers. And everyone needs to know that the profits of those local providers are being reinvested locally. Those are two of the recommendations of a working paper for the Asian Development Bank Institute that looked at energy market reforms in Japan and France. Read the transcript https://bit.ly/2JKtoKQ Read the working paper https://bit.ly/2FIZgLW About the authors Aki Suwa is a professor at the Faculty for the Contemporary Society of Kyoto Women's University in Japan. Magali Dreyfus is a researcher at the National Centre for Scientific Research and the Center for European Research on Administration, Politics and Society, of Lille University in France. Know more about ADBI’s work https://bit.ly/2V1rgzl

A new consumption tax could fund development of necessary low-carbon energy system Mar 20, 2019

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A general tax on consumption that would fund the development of a low-carbon energy system is the only way greenhouse gas emissions will be reduced in time to benefit future generations. The solutions being tried now are not getting the job done. That’s the message of a recent working paper for the Asian Development Bank Institute. The paper explains why the solutions most commonly being used now are not working. It details how a new consumption tax could fund the research and development needed to avoid a coming disaster. Jatin Nathwani of the University of Waterloo and Artie W. Ng of the Hong Kong Polytechnic University explain. Read the transcript https://bit.ly/2HIDOYL Read the working paper https://www.adb.org/publications/cap-invest-strategy-managing-intergenerational-burden-financing-energy-transitions About the authors Jatin Nathwani is Ontario Research Chair in Public Policy for Sustainable Energy and Executive Director at the Waterloo Institute for Sustainable Energy of the University of Waterloo in Canada. Artie W. Ng is principal lecturer with the Hong Kong Polytechnic University in Hong Kong, China. Know more about ADBI’s work https://bit.ly/2TPOWu4

Governments should consider local conditions in bank regulations to aid the poor Mar 13, 2019

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Research has shown that better access to banking can help lift people out of poverty. A recent study in Bangladesh confirms that link. But it also suggests that policy makers should consider the large regional and local differences when applying regulations. The study, detailed in a recent working paper for the Asian Development Bank Institute, matched maps compiled from poverty data in Bangladesh with maps that tracked local-level banking services. Read the transcript https://bit.ly/2HouDN3 Read the working paper https://www.adb.org/publications/regional-variations-banking-services-poverty-reduction-evidence-bangladesh About the authors Kazi Iqbal is a senior research fellow at the Bangladesh Institute of Development Studies. Paritosh K. Roy is assistant professor at the Institute of Statistical Research and Training of the University of Dhaka. Shamsul Alam is senior secretary of the General Economics Division of the Planning Commission, Government of Bangladesh. Know more about ADBI’s work https://bit.ly/2NXnxAg https://bit.ly/2CeOURR

FinTech advances can help farmers in Asia and the institutions that serve them Mar 06, 2019

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Advances in financial technology can help farmers in Asia raise money to improve their operations and deal with the risks that come from uncertain weather and other factors outside their control. A mass migration is taking place in Asia as people move from farms to the cities, raising standards of living as countries industrialize. Still, farming remains very important to much of developing Asia. And improving the lives of farmers means improving the lives of the poorest citizens, in many cases. Research has shown that almost all the poverty reduction in Asia since 2002 took place in rural areas. So, while the importance of agriculture to Asian economies is mostly declining, it remains the sector with the strongest role in reducing poverty. Read the transcript https://bit.ly/2GX5lWX Read the working paper https://www.adb.org/publications/use-financial-technology-agriculture-sector About the authors Craig McIntosh is a professor at the School of Global Policy and Strategy of the University of California, San Diego. Caio Scuarcialupi Mansini is a graduate student in the same school. Know more about ADBI’s work https://bit.ly/2Xu9d6C https://bit.ly/2HeEtkC Watch the related video https://bit.ly/2Td4M1r

Indian cities can partner with foreign peers to get ahead Feb 27, 2019

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Indian cities should establish teams to tap the expertise contained within their global counterparts. Rather than starting from scratch, they can jump ahead by connecting with counterparts that have already navigated the challenges they face. For example, they can learn how to brand themselves as prime locations for corporate ecosystems by partnering with global peers. The home for these collaborations should be urban local bodies, known as ULBs, the organizations charged with planning and development for their cities. ULBs should focus some of their efforts on collaborating with their peers as a major tool to advance their goals. Prasad Thakur, a founding member of the War Room—City Transformation Unit at Pune Municipal Corporation, India, explains. Read the transcript https://bit.ly/2Sr5VNK Read the blog https://bit.ly/2SZDpbd About the authors KE Seetha Ram is a senior consulting specialist for ADBI’s capacity building and training projects. Prasad Thakur is a founding member of the War Room—City Transformation Unit at Pune Municipal Corporation, India. Know more about ADBI’s work https://bit.ly/2NsHkHv https://bit.ly/2NuerL8

Thailand needs better tax regulations, enforcement to fight “shadow” economy Feb 20, 2019

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Thailand has been using tax policies to promote growth and encourage foreign investment. Some of those measures have succeeded but more attention needs to be paid to the revenue-raising side of the tax regime. Globalization has disrupted the way countries think about their tax regimes. In the past, the issue of double taxation was at the forefront, whether companies would have to pay tax in both their home country and in other countries where they had a presence. Today, the issue is whether they will be taxed at all. Read the transcript https://bit.ly/2BDVvoz Read the report https://www.adb.org/publications/tax-and-development-challenges-in-asia-pacific Read the chapter https://bit.ly/2J0RJb7 About the author Patricia Mongkhonvanit is deputy director-general of the Revenue Department of Thailand. Know more about ADBI’s work https://bit.ly/2DswkGU https://bit.ly/2FKtYVW

People’s Republic of China needs to step up property and income tax reforms Feb 13, 2019

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Increasing the use of property and income taxes in the People’s Republic of China won’t be popular, but it is necessary. Relying more on property and income tax will not only help the China government balance its budget but could smooth income inequality and limit unrestrained urban expansion. As countries develop, they tend to keep balance between indirect taxes such as a levy on goods and services and direct taxes on incomes and property. That allows the government to use tax policy to meet social or fiscal goals while raising money to invest in a social safety net. In China, direct taxes account for a much smaller percentage of total tax revenue than in member countries of the Organisation for Economic Co-operation and Development. In 2014, China raised 9.5% of its revenue through direct taxes, compared with 20.3% on average in OECD countries. Read the transcript https://bit.ly/2E6FSHU Read the report https://www.adb.org/publications/tax-and-development-challenges-in-asia-pacific Read the chapter https://bit.ly/2BNcR2h About the authors Jürgen Conrad headed the Asian Development Bank’s economics team in Beijing at the time this paper was written. Jian Zhuang is an economist at ADB’s Resident Mission in Beijing. Know more about ADBI’s work https://bit.ly/2DswkGU https://bit.ly/2FKtYVW

Postal savings banks should be tapped to strengthen financial systems in emerging Asia Feb 13, 2019

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Postal savings banks should be developed as a key factor of the economies in emerging Asia. Building or rebuilding postal savings banks would help modernize and deepen financial systems that are still vulnerable to the whims of global capital flows, as well as provide financial services to citizens who lack access to them. A recent book published by the Asian Development Bank Institute, Postal Savings—Reaching Everyone in Asia, suggests using the success of postal savings banks in countries like Japan as an example for emerging countries in Asia. Read the transcript https://bit.ly/2GJC5lD Read the report https://www.adb.org/publications/postal-savings-reaching-everyone-asia About the author Anwar Nasution is an economist at the University of Indonesia in Jakarta. Know more about ADBI’s work https://bit.ly/2sQUSmI

Bank of Japan stock buying will be hard to unravel Feb 06, 2019

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The Bank of Japan’s ongoing purchases of Japanese stocks has warped the country’s equity markets. Every day it continues will make the eventual unwinding of those holdings harder, both for the central bank and for the markets themselves. In January 2013, the BOJ introduced a 2% price stability target in an effort to extract the country from more than a decade of stagnant or falling prices. That in itself was a rare move by a central bank. Sayuri Shirai of Japan’s Keio University explains. Read the transcript https://bit.ly/2WJldke Read the working paper https://www.adb.org/publications/boj-exchange-traded-fund-purchases-unprecedented-monetary-easing-policy About the author Sayuri Shirai is a professor at Japan’s Keio University and a visiting scholar at the Asian Development Bank Institute and served on the Bank of Japan’s monetary policy board from 2011 to 2016. Know more about ADBI’s work https://bit.ly/2GsYxyX

Foreign remittances should be a key part of expanding services at postal savings banks Jan 29, 2019

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Postal savings banks can expand their financial services and bring them to more people, by using foreign remittances as a springboard. With $250 billion in remittances flowing into Asia every year, postal savings banks can provide cheaper and easier ways for people to access those funds and become one-stop-shops for financial services in Asia. That’s the suggestion of a recent book published by the Asian Development Bank Institute, Postal Savings – Reaching Everyone in Asia. Read the transcript https://bit.ly/2HGukPh Read the report https://www.adb.org/publications/postal-savings-reaching-everyone-asia About the author Hans Boon is chief executive officer of PostFinance Int’l Development, Amsterdam, a consultant for the World Bank and the International Fund for Agricultural Development, and a director of Eurogiro in Denmark. Know more about ADBI’s work https://bit.ly/2sQUSmI

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