Over the last couple of years, BRI has led and partnered in a wide range of innovative and influential research projects. Opened in February 2020, BRI has built a new research winery facility alongside key industry and research partners at the NMIT/MRC campus in Blenheim. The new research winery provides facilities to enable research winemaking at a scale and degree of experimental control not possible before in New Zealand. The research institute is owned by the industry and provides a strong link between the industry and research by ensuring the research is aligned with the industry's needs.
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.
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.
The proposed Asian Development Bank (ADB) country partnership strategy (CPS) for Indonesia, 2020–2024 aims to support inclusive, competitive, and sustainable development. It is geared toward helping Indonesia emerge stronger from the COVID-19 pandemic by focusing on three strategic pathways: (i) improving well-being—by strengthening the health care system, expanding social protection, advancing educational quality in an equitable manner, and developing workforce skills; (ii) accelerating economic recovery—by supporting economic policy and structural reforms, domestic resource mobilization, financial market deepening and inclusion, and the development of high-quality infrastructure; and (iii) strengthening resilience—by supporting climate change mitigation and adaptation measures, environmental sustainability and green recovery, disaster risk management and finance, and water and food security. Support to the COVID-19 recovery is an overarching theme, under which ADB will incorporate the following crosscutting priorities in its operations: (i) private investment and innovative financing; (ii) gender equality and socially inclusive approaches; (iii) enhanced governance and institutional capacity; (iv) digitalization and technological transformation; (v) local and regional economic development; (vi) regional cooperation and integration; and (vii) achievement of the Sustainable Development Goals (SDGs). The CPS is fully aligned with Indonesia's National Medium-Term Development Plan (RPJMN), 2020–2024; ADB's Strategy 2030; and the SDGs.
Using the Small and Medium Enterprise Survey in Vietnam and three proxies of innovation, we study the impact of firm innovation on on-the-job training in the manufacturing sector from 2007 through 2015. To address potential measurement errors and omitted variable problems, we use the average level of innovation in the same sector in other districts as an instrument for firms' innovations. We find that firms provide additional training for existing workers when introducing new technology, and high-value-added firms provide additional training for existing workers. Moreover, government assistance may not be the main reason that encourages firms to provide training. The results also show that firms hire more skilled workers when implementing innovations.
This paper assesses the macroeconometric properties of the Congolese Congolese monetary multiplier through the analysis of its stability and predictability from 1990 to 2019. It has an acceptable value, and its evolution is connected to the macroeconomic, monetary and fi nancial situation of the Democratic Republic of Congo. To achieve this, We used the unit root test ADF to rule on the stationarity of the series, the cointegration test in the sense of Engle-Granger (1987) to analyze the existence of a longterm relationship between the variables and four (4) ARIMA (Box-Jenkins) models to assess the quality of the predictability of this multiplier. We have found that money supply and the money base are linked in the long term, which indicates some stability in the money multiplier. This could justify the use of the multiplier in the conduct of policy and monetary targeting in DR Congo. The existence of the long-term relationship between the base and the money supply confirms its predictability which is better predicted by its trend and seasonal components by using the Hodrick-Prescott (HP) filter. ; Ce papier évalue les propriétés macroéconométriques du multiplicateur monétaire congolais congolais à travers l'analyse de sa stabilité et sa prédictibilité de 1990 à 2019. Celui-ci possède une valeur acceptable, et son évolution est connectée à la situation macroéconomique, monétaire et financière de la République démocratique du Congo. Pour y arriver, Nous avons utilisé le test de racine unitaire ADF pour statuer sur la stationnarité des séries, le test de cointégration au sens d'Engle-Granger (1987) pour analyser l'existence d'une relation de long terme entre les variables et quatre (4) modèles de type ARIMA (Box-Jenkins) pour évaluer la qualité de la prédictibilité de ce multiplicateur. Nous avons trouvé que la masse monétaire et la base monétaire sont liées à long terme, ce qui dénote d'une certaine stabilité du multiplicateur monétaire. Ce qui pourrait justifier l'utilisation du multiplicateur dans la conduite de ...
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 paper attempts to explore some of these issues in the context of national, regional and global geo-political shifts that are influencing Sri Lanka's economic and political ties with China. Section 2 provides a background to Sri Lanka's historic economic and geo-strategic relations with China; Section 3 sets out the main elements of the BRI and Sri Lanka's key related engagements with it; Section 4 addresses the contentious issue of China's role in Sri Lanka's growing foreign debt overhang; Section 5 looks at more recent developments of broader economic engagements via the BRI, and; Section 6 concludes with some policy recommendations.
ADB's strategic objective and priorities. The CPS has four strategic pillars: (i) accelerate competitiveness and economic diversification; (ii) strengthen human capital and lifelong learning; (iii) foster green, sustainable, and inclusive development; and (iv) improve governance. The CPS will deliver on these priorities by (i) offering policy advice; (ii) supporting reforms; (iii) strengthening institutions, including for social and environment safeguards; (iv) sourcing public and private sector finance and expertise, and (v) promoting gender equality. ADB will continue to pioneer the use of technology, including digital solutions, throughout its operations. In terms of priorities, the CPS redirects ADB-led investments toward energy infrastructure, while continuing to focus on agriculture and natural resources, human capital, and urban development. This focus corresponds to four of the seven operational priorities (OPs) of ADB's Strategy 2030.4 To support the government's vision of integrating into the global digital economy and benefiting from the fourth industrial revolution, the CPS mainstreams use of information technology including for better targeting of government programs toward underserved people. The CPS also includes a multi-media communication strategy to share ADB's deep operational experience and country knowledge.
ADB strategic objectives and priorities. The country partnership strategy (CPS) will foster diversified growth and wider inclusiveness with sovereign and nonsovereign financing for (i) priority infrastructure investments in transport, energy, and urban development; (ii) knowledge and policy-based assistance and investments for service delivery reforms in education, health, and financial services; and (iii) support for regional cooperation and integration (RCI). The Asian Development Bank (ADB) will continue ongoing projects in roads, energy, and urban transport, and prepare new infrastructure investments with effective implementation arrangements that encourage private sector participation and improve gender dimensions in service delivery. Finances will be mobilized and activities implemented to reduce risks from geophysical and weather hazards and raise climate resilience. To further RCI, ADB will undertake knowledge work and policy dialogue to help Armenia create a regional economic corridor. Analysis of trade and export competitiveness will inform ongoing efforts by Armenia to leverage its access to the Eurasian Economic Union (EEU), the European Union, and other markets.
Georgia is geographically located at the crossroads of Europe and Asia. Its overall development strategy—Freedom, Rapid Development, Prosperity: Government Platform 2016–20201 (hereafter, "Government Program 2016–2020")—recognizes this unique spatial advantage and calls for the country's closer market integration with the rest of the world, including the European Union (EU). However, Georgia has not yet fully tapped this geographical advantage for international economic integration. It needs to raise its productivity, including through further exposure to international economic integration and by relieving supply-side constraints such as its infrastructure and skills deficits. The country continues to have a sizable population below the poverty line and a high unemployment rate of 12.7%. The ultimate goal of the proposed country partnership strategy (CPS) of the Asian Development Bank (ADB) for 2019–2023 is to expand trade, create more jobs, and combat poverty through development of economic corridors in Georgia. Among the operational priorities under ADB's Strategy 2030,2 the CPS adopts regional cooperation and integration (RCI)—along with balanced economic development, making urban areas more livable, reducing poverty and inequality, and strengthening governance and institutional capacity—as its primary strategic objective to help Georgia make the most of its value propositions, including geographic location and free trade agreements (FTAs) with 32 of its trading partners. ADB operations under CPS 2019–2023 will be fully aligned with Strategy 2030 priorities. All other operational priorities of Strategy 2030 will be addressed as crosscutting themes. Another prominent feature of the Government Program 2016–2020 is its emphasis on market-driven growth. Taking advantage of this enabling business environment, private sector operations are incorporated in the country strategy under the One ADB approach, which leverages all competencies of ADB to meet Georgia's evolving development needs.
ADB's strategic objectives and priorities. The Nepal country partnership strategy (CPS), 2020–2024 of the Asian Development Bank (ADB) has three objectives: (i) improved infrastructure for private sector-led growth, (ii) improved access to devolved services, and (iii) environmental sustainability and resilience. ADB will support renewable energy, road and air transport, logistics, and trade facilitation to strengthen domestic, regional, and international connectivity; reduce the costs of production and trade for businesses; and attract private investment. Improved access to devolved services will entail assistance for (i) the development of cities and urban municipalities, (ii) quality education and employment-oriented skills development, and (iii) increased agriculture productivity and commercialization to augment rural incomes. These will be targeted to benefit women and disadvantaged social groups. ADB will support integrated water resource management, as well as the formulation and implementation of policies and plans, for stronger resilience and environmental sustainability. ADB will assist with policy reforms for devolved service delivery, including subnational public financial management (PFM); and sector reforms in agriculture, air transport, and water supply. Knowledge solutions and development of institutional capacity, especially at subnational levels, will be emphasized.
This trans-disciplinary scholarly annual journal aims to provide a diverse array of research and working papers, policy briefs, and argumentative essays on issues pertaining to sustainable development. From sustainable livelihoods to social sector development, from inclusive economic growth to institutional governance, from energy economics to climate change, from food in/security, water and human security to education, from sustainable industrial growth to resilient development, from religious tolerance to peace and gender equity, there will be something insightful for professionals, students, and readers from varied backgrounds.
