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Digital technology is essential to better financial services for small businesses Dec 20, 2018

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Digital technology is essential to better financial services for small businesses Better financial services are needed by micro, small, and medium-sized enterprises (MSMEs), such as secured transaction frameworks, credit information systems, and insolvency regimes. Among the 21 Asia-Pacific Economic Cooperation (APEC) forum economies, MSMEs represent more than 60% of total employment, 40% of gross domestic product, and 15% of total exports, but some 40% of their financial needs go unserved, mainly because they are too small to get banks’ attention. Shawn Hunter, David Dole, and Valdimir dela Cruz explain. Read the transcript https://bit.ly/2V1WGGz Read the policy brief https://www.adb.org/publications/financial-inclusion-digital-age About the authors Shawn Hunter is manager of Inclusive Finance at the Foundation for Development Cooperation. Valdimir dela Cruz was an associate at the Asian Development Bank Institute (ADBI) at the time the paper was written. David Dole is senior economist at ADBI. Know more about ADBI’s work https://bit.ly/2GJxL7B https://bit.ly/2QH3ACy

Obesity “time bomb” ticks away in developing economies Dec 20, 2018

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Developing countries need to urgently deal with an obesity “time bomb” ticking away in their economies, and which is already dragging down growth and driving up health costs. The World Health Organization says that in 2016, more than 1.9 billion adults were overweight and 650 million were obese, with the worldwide prevalence of obesity nearly tripling since 1975. Mathias Helble and Azusa Sato investigate. Read the transcript https://bit.ly/2SaqUFd Read the report https://www.adb.org/publications/wealthy-unhealthy-overweight-and-obesity-asia-and-pacific-trends-costs-and-policies About the authors Mathias Helble is a former senior economist and co-chair of the Asian Development Bank Institute’s Research Department in Tokyo. Azusa Sato is a health specialist at the Asian Development Bank in Manila. Know more about ADBI’s work https://bit.ly/2LuBDaU https://bit.ly/2Re06XG

Asia has a lot more catching up to do in green investments Dec 12, 2018

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Asia may have made headway in channeling investments into green projects, but it needs $26.2 trillion between 2016 and 2030 or $1.7 trillion annually to finance sustainable and climate-resilient infrastructure. Southeast Asia alone needs an estimated $110 billion annually for investment in power, transport, information and communication technology, and water and sanitation through 2025. Asia has a lot more catching up to do than other regions. In 2016, green investments in Asia, excluding Japan, totaled $52 billion, accounting for only 0.8% of all funds under management in the region. This pales in comparison with 52.6% in Europe, 50.6% in Australia and New Zealand, 37.8% in Canada, and 21.6% in the United States. Ulrich Volz of SOAS explains. Read the transcript https://bit.ly/2RTi7r9 Read the working paper https://www.adb.org/publications/fostering-green-finance-sustainable-development-asia About the author Ulrich Volz is head of the Department of Economics at SOAS, University of London. Know more about ADBI’s work https://bit.ly/2SEYAus https://bit.ly/2SJw2Ac

Central banks in developing Asia are prepared for uncertain times Dec 12, 2018

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Lessons learned during the Asian financial crisis leave central banks in developing Asia well-prepared for potentially volatile times as the world emerges from a period of ultra-low interest rates. That’s the view of central bank expert Hans Genberg, an advisor at the South East Asian Central Banks Research and Training Centre in Kuala Lumpur, Malaysia. Read the transcript https://bit.ly/2B9UzHx Read the report https://bit.ly/2B9D7mv Watch the presentation https://bit.ly/2UvwwM1 About the author Hans Genberg is advisor to the South East Asian Central Banks Research and Training Centre in Kuala Lumpur, Malaysia. Know more about ADBI’s work https://bit.ly/2SGaOmQ https://bit.ly/2EhoErR

Land trusts are the best way to acquire private land for infrastructure Dec 05, 2018

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Land trusts are the best way for governments in Asia to acquire private land for infrastructure projects. They also increase the likelihood that private companies will help build the roads, bridges, and railways that will keep economies growing. Recent research by the Asian Development Bank Institute notes that political upheaval has often accompanied attempts by governments to take over private land for infrastructure projects. India, Nepal, Indonesia, and the Philippines have all faced opposition to forcible land expropriation. Projects have been delayed by years or even canceled because of sometimes-violent opposition to land takeovers. Read the transcript https://bit.ly/2APPPGU Read the working paper https://www.adb.org/publications/land-acquisition-and-infrastructure-development-through-land-trust-laws About the authors Saumik Paul is a senior economist at the Asian Development Bank Institute (ADBI). Naoyuki Yoshino is dean of ADBI. Vengadeshvaran Sarma is an economist at the University of Nottingham, Malaysia campus. Saloni Lakhia is a graduate student at the International Christian University. Know more about ADBI’s work https://bit.ly/2Q0hDCC

In the People’s Republic of China, girls now have more schooling than boys Dec 05, 2018

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Girls now have more schooling on average than boys in the People’s Republic of China, reversing the age-old tradition of sons being better educated than daughters. One driver of change is China’s rapid economic growth over the past several decades, which has raised female literacy and living standards, leading to females receiving more schooling. Government policies limiting families to just one child and requiring them to send all children to school are also major factors. Kathleen McGarry and Xiaoting Sun of UCLA explain the factors contributing to the change in trend. Read the transcript https://bit.ly/2QcPhW4 Read the working paper https://www.adb.org/publications/three-generations-changing-gender-patterns-schooling-prc About the authors Kathleen McGarry is a professor and vice chair in the Department of Economics at UCLA and a research associate at National Bureau of Economic Research, Cambridge, Massachusetts. Xiaoting Sun is a PhD candidate in the Department of Economics at UCLA. Know more about ADBI’s work https://bit.ly/2Q7FMXZ https://bit.ly/2zzBgHH

More action is needed to achieve fair taxation in the digital economy Nov 28, 2018

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Innovative financial services and improved ways of doing business have emerged on the back of the rapidly growing digital economy, a field that has been growing exponentially over the past 10 years. The digital economy is extremely diverse, driving e-commerce, app stores, online advertising, online payment services, and cloud computing among a wide range of fields. Because the digital economy operates in an environment lacking regulations, achieving fair taxation is a challenge. Wawan Juswanto and Rebecca Simms explain. Read the transcript https://bit.ly/2rgYpdr Read the policy brief https://www.adb.org/publications/fair-taxation-digital-economy About the author Wawan Juswanto was a senior economist and Rebecca Simms was an associate at the Asian Development Bank Institute when the research was conducted. Know more about ADBI’s work https://bit.ly/2AoPv1v https://bit.ly/2PYTbBC

Denying credit to small and medium-sized enterprises may threaten an economy’s growth Nov 28, 2018

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Small and medium-sized enterprises (SMEs) comprise 99% of nonfinancial businesses in the euro area and employ 67% of the total labor force. In Asia, they account for almost 98% of all businesses and employ about 66% of the workforce. These businesses are vital to a country’s economy. To survive, most SMEs need external funding. The most important direct sources are credit lines, bank loans, and leasing. Funds are essential—but where are they? What can be done to help SMEs? Danilo Mascia of Nottingham University Business School investigates. Read the transcript https://bit.ly/2QlSLEL Read the working paper https://www.adb.org/publications/young-enterprises-and-bank-credit-denials About the author Danilo Mascia is an assistant professor in banking at Nottingham University Business School, United Kingdom. Know more about ADBI’s work https://bit.ly/2P4vpiv https://bit.ly/2QiA5G9

The New Silk Road and its network of projects could be a “win-win” for all Nov 21, 2018

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Linking the People's Republic of China with Asia, Africa, and Europe by land and sea can be a win-win for China and its partner countries, if the trillions of dollars China plans to invest in infrastructure will benefit its partners, too. Jean François Gautrin of the Malaysian Institute of Economic Research explains. Read the transcript https://bit.ly/2zk7ZjR Read the report https://www.asiapathways-adbi.org/2018/03/one-belt-one-road-and-the-risks-behind-the-win-win-situation/ About the author Jean François Gautrin is an associate research fellow at the Malaysian Institute of Economic Research. Know more about ADBI’s work https://bit.ly/2Bn3w1r https://bit.ly/2A4Juqo

Financial inclusion needs to be part of the government’s strategy in the Kyrgyz Republic Nov 21, 2018

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More than 60% of adults in the Kyrgyz Republic do not have access to financial products and services, and many still prefer to keep their money under a mattress. While a quarter of the adult population have savings, only 3% have money saved in financial institutions. Nor do people have much use for credit. Only 10.2% of adults have borrowed from a financial institution or used a credit card, a number that’s below global averages. Lack of access to banks and credit keep the poor from escaping poverty because they don’t have the means to invest in a business, education, or even their own health. Savia Hasanova describes recent developments in financial inclusion and financial literacy in the Kyrgyz Republic. Read the transcript https://bit.ly/2A8BRiN Read the working paper https://www.adb.org/publications/financial-inclusion-regulation-literacy-education-kyrgyz-republic About the author Savia Hasanova is an economic expert at the Investment Round Table in the Kyrgyz Republic. Know more about ADBI’s work https://bit.ly/2FvHnlp https://bit.ly/2Q7znLQ

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