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ADBI holds workshop on income inequality in Asia
Policy makers discussed how to moderate income inequality and promote inclusive growth in Asia at a workshop held at ADBI on 26–27 July. Other topics examined were growing income inequality in Asia related to aging populations, education, globalization, housing costs, inheritance, trade, and urbanization.
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ADBI signs first datasharing deal with IMF
ADBI Dean Yoshino signed an agreement with IMF to share metadata on their respective knowledge products - IMF's 16,000 item eLibrary and the relaunched Think-Asia repository (formerly OAR). "This swap will make Asian ideas and knowledge more accessible in the world's leading dataspaces where key policy questions are debated and studied", said Dean Yoshino. The Think-Asia initiative aims to aggregate knowledge from the region's top think tanks and make it useable to the millennial generation.
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ADBI encourages dialogue on regional integration among Pacific economies
Over 200 academics, policy makers, and students gathered in Suva, Fiji on 18–19 July to examine how inclusive growth makes Pacific island countries more resilient. Discussions focused on improving labor mobility, reforming state-owned enterprises, fostering renewable energy, adapting to climate change, and connecting the region through infrastructure and trade. ADBI co-organized the event with ADB’s Pacific Regional Department, and in collaboration with the University of the South Pacific and Australian National University.
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Fiscal sustainability: A look at Japan
Fiscal sustainability is important for many developing countries. Domar's condition is used to compare the interest rate and the growth rate of economies to assess national budget stability, explained ADBI Dean Naoyuki Yoshino at a recent presentation at the IMF Regional Training Institute. However, Domar’s condition only considers supply of and not demand for government bonds. Using Greece and Japan as examples, Dean Yoshino explained why Greece got into serious financial difficulty but not Japan, even though its budget deficit-to-GDP ratio is higher than Greece’s. The reason lies in the differences in demand: most demand for government bonds in Greece comes from overseas investors while in Japan it comes from domestic investors. Download and read working paper.
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