Asian Development Outlook 2015: financing future growth in Asia and the Pacific

Presented by ANU College of Asia & the Pacific

Joe Zveglich, Director of the Asian Development Bank’s (ADB) Macroeconomics Research Division and Christopher Edmonds, Senior Economist of ADB’s Pacific Department will present and discuss the Asian Development Outlook (ADO) 2015 - ADB’s flagship economic publication. The report aims to provide a comprehensive analysis of macroeconomic issues in developing Asia and the Pacific, with growth projections by country and region.

The theme chapter of ADO 2015 is ‘Financing Asia’s future growth.’ It explores the role of developing Asia’s financial system in sustaining its growth, while also examining ways to make the system more inclusive and stable. The region’s growth has moderated visibly since the Global Financial Crisis(GFC) of 2008–2009. At the same time, the region is in the midst of a structural transition toward a new growth paradigm in which productivity growth will play a larger role.

The region’s finance sector will therefore have to develop in a way that supports growth by boosting both investment and productivity. A financial system that efficiently allocates capital to its most productive use is a vital ingredient of the new growth paradigm. To make growth more inclusive, the region’s policymakers will be challenged to find ways to extend access to finance to the poor, and small and medium-sized enterprises. In addition, developing Asian countries must strengthen financial stability, for example through better regulation, so that the finance sector does not itself become a source of growth-harming volatility. Overall, this theme chapter will provide policy advice on how the region can foster stable financial systems that can support efficient and inclusive growth in the post-GFC world.

Joe Zveglich and Christopher Edmonds will present the key Asia and Pacific findings of the report.

This public seminar is presented by Asia and the Pacific Policy Society at Crawford School of Public Policy, The Australian National University, and the Asian Development Bank.