Monthly Progress Report January 2014

Research 1. Brown Bag Lunch Seminar by Yothin Jinjarak: Trade Gravity for Economies in Transition: How Remotely Are Central Asia and South Asia in Comparison to Southeast Asia? was held at ADBI, 10 January. [Read more]

Outreach 1. Media coverage: a. Dean Kawai was interviewed by Nikkei CNBC TV and by Singapore’s Channel News Asia TV. [Watch interview] 2. Working papers published: a. Issues for Renminbi Internationalization: An Overview. Authors: Barry Eichengreen and Masahiro Kawai. [Read more] b. Will History Repeat Itself? Lessons for the Yuan. Author: Benjamin J. Cohen. [Read more]

Forthcoming Events 1. Tokyo launch of the 2013 Global Go To Think Tank Index and Abridged Report to be held, 23 January. 2. Seminar by Junko Koeda: Exiting from Quantitative Easing to be held at ADBI 21 January. [Read more] 3. Deputy Dean Jae-Ha Park and Senior Capacity Building Economist Alladin Rillo will participate in a high-level dialogue with the Indonesian government on the ADB–INO Knowledge Partnership, 24 January. 4. ADBI–FSA, Japan, Conference on “Financial System Stability, Regulation, and Financial Inclusion” to be held in Tokyo, 27 January. [Read more] 5. The 4th ADBI–OECD–ILO Roundtable on Labor Migration in Asia: Building Human Capital Across Borders to be held at ADBI, 27–28 January. [Read more] 6. Distinguished Speaker Seminar: Yung Chul Park – Financial Liberalization, Allocation Efficiency and Financial Stability to be held at ADBI 30 January. [Read more]

1 Monthly Progress Report February 2014

Highlights 1. Dr. Masahiro Kawai retired from ADBI on 28 February after serving as Dean for seven years since 2007. 2. ADBI's ranking among government-affiliated think tanks rose from 6th to 5th in the 2013 Global Go To Think Tanks Index Report, released by the Think Tanks and Civil Societies Program of the University of Pennsylvania. ADBI was also ranked among the world’s top think tanks in the following categories: a. 16 among top international development think tanks b. 21 among top think tanks worldwide (Non-US) c. 29 among top think tanks worldwide (US and non-US)

Dean Kawai 1. Delivered a speech at the Japan National Press Club, 7 February. 2. Took part with Deputy Dean Park in the International Conference on Strengthening Economic Cooperation in Asia, in Seoul, 18 February. ADB President Takehiko Nakao delivered the keynote speech. [Read more]

Research 1. Distinguished Speaker Seminar: Peter Petri – The New Landscape of Trade Policy in Asia and the Pacific: TPP, RCEP, and More was held at ADBI, 19 February. [Read more] 2. Small Symposium: Presentation by Yung Chul Park – How Much Can National Currencies Be Used for Trade Settlement in Asia? was held at ADBI, 21 February. [Read more] 3. Technical Workshop: Impacts of Trilateral Conflicts in North Asia was held at ADBI, 25 February. 4. The Conference on Regional Cooperation and Integration was held at ADBI, 25 February. Dean Kawai gave the welcoming and closing remarks. BOJ Governor Haruhiko Kuroda attended the reception and gave a speech. [Read more] 5. Role of Microfinance Programs in Promoting Financial Inclusion: Findings from Field Studies in India and Pakistan was held at ADBI, 13 February. [Read more] CBT 1. Regional Workshop Program: Preparing Public-Private Partnerships was held at ADBI, 3–7 February. [Read more]

Outreach 1. Media coverage: a. Dean Kawai was cited in the Korea Herald article “Experts Remain Upbeat on Asia’s Economic Growth.” b. Research Director Ganeshan Wignaraja was interviewed by NHK World. [Watch interview]

1

Monthly Progress Report February 2014

c. CBT Director Yuqing Xing was interviewed by NHK World. [Watch interview] d. Special Adviser to the Dean Giovanni Capannelli was quoted in the Cambodian Business Review article “How Cambodia’s SMEs Should React to Market Merger.” e. ADBI was cited in the Business Times article “Tokyo Aims to be Asia's Capital Market for Long-term Funding.” f. The appointment of the new ADBI Dean was reported on by Bloomberg Businessweek, National Journal, Dangcongsan (Vietnam) and Thai News Service.

2. Asia Pathways posts published a. G20 and International Economic Policy Coordination b. Why Is the PRC Showing Signs of Overheating Despite Slowing Economic Growth? c. What Should Europe Do to Fix Its Financial System? d. Back on Track? The Importance of the Bali Package for the WTO and Global Trade 3. Working papers published: a. Assessing the Experience of South Asia-East Asia Integration and India's Role by Ganeshan Wignaraja b. Globalization, Infrastructure, and Inclusive Growth by L. Alan Winters c. Rising Inequality in Asia and Policy Implications by Juzhong Zhuang, Ravi Kanbur, Changyong Rhee d. Lessons for Asia from Europe's History with Banking Integration by Douglas J. Elliott e. How Far Can Renminbi Internationalization Go? by Yongding Yu f. Regional Financial Regulation in Asia by Masahiro Kawai, Peter J. Morgan g. Emerging Economies' Supply Shocks and Japan's Price Deflation: International Transmissions in a Three-Country DSGE Model by Naohisa Hirakata, Yuto Iwasaki, Masahiro Kawai h. The India-Sri Lanka Free Trade Agreement and the Proposed Comprehensive Economic Partnership Agreement: A Closer Look by Saman Kelegama i. Regional Settlement Infrastructure and Currency Internationalization: The Case of Asia and the Renminbi by Changyong Rhee, Lea Sumulong j. Determinants of the Trilemma Policy Combination by Hiro Ito and Masahiro Kawai.

2

Monthly Progress Report February 2014

k. The People's Republic of China's Growth, Stability, and Use of International Reserves by Joshua Aizenman, Yothin Jinjarak, and Nancy Marion.

Forthcoming Events 1. Conference on Strategies for Maintaining Fiscal Soundness in Aging Societies will be jointly held by ADBI and the Policy Research Institute, MOF of Japan, at ADBI, 6 March. [Read more] 2. Technical Workshop on Connecting Central Asia to Economic Centres to be held at ADBI, 10 March. 3. 14th ADBI–OECD Roundtable on Capital Market Reform in Asia to be held at ADBI, 13–14 March. [Read more] 4. Distinguished Speaker Seminar: Robert Aliber – The Source of Financial Crises to be held at ADBI, 18 March. [Read more] 5. Seminar by Jutaro Kaneko: FSA's Approach for Financial Technical Cooperation to be held at ADBI, 19 March. [Read more] 6. 2014 Asia-Pacific Forum on Financial Inclusion – Realizing Financial Inclusion in Asia: Achievements and Challenges to be held in Shanghai, 19–20 March. [Read more] 7. Seminar by Rajat Kathuria: India's Growth and the Need for Reform to be held at ADBI, 28 March. [Read more] 8. Conference on Renminbi Currency Internationalization Project to be held at ADBI, 28 March.

3

Monthly Progress Report March 2014

Highlights 1. The 14th ADBI–OECD Roundtable on Capital Market Reform in Asia was held at ADBI, 13–14 March. [Read more]

Deputy Dean Jae-Ha Park 1. Served as acting Dean of ADBI for the month of March. 2. Attended the European Think Tank Summit in Barcelona, 11–12 March, and gave a presentation on the role of think tanks in Asia.

Research 1. Conference on Strategies for Maintaining Fiscal Soundness in Aging Societies was jointly held by ADBI and the Policy Research Institute, MOF of Japan, at ADBI, 6 March. [Read more] 2. Technical Workshop on Connecting Central Asia to Economic Centres was held at ADBI, 10 March. 3. Distinguished Speaker Seminar: Robert Aliber – The Source of Financial Crises was held at ADBI, 18 March. [Read more] 4. Seminar by Jutaro Kaneko: FSA’s Approach for Financial Technical Cooperation was held at ADBI, 19 March. [Read more] 5. Seminar by Michael Fabinger: Why Are Some Imperfect Competition Models More Tractable than Others was held at ADBI, 25 March. 6. Seminar by Rajat Kathuria: India's Growth and the Need for Reform was held at ADBI, 28 March. [Read more] 7. Currency Internationalization: Lessons and Prospects for the RMB was jointly held by ADBI and the National School of Development, Peking University, in Beijing, 28 March. [Read more] 8. Distinguished Speaker Seminar: Euston Quah – Siting Environmentally Unfriendly Facilities: The NIMBY Challenge in Asia was held at ADBI, 31 March. [Read more]

CBT 1. 2014 Asia-Pacific Forum on Financial Inclusion – Realizing Financial Inclusion in Asia: Achievements and Challenges was held in Shanghai, 19–20 March. [Read more]

Outreach 1. Media coverage: a. Research Director Ganeshan Wignaraja was quoted in the China Daily articles “Philippines’ Plans Hit a Wall” and “Funding the Future.” b. CBT Director Yuqing Xing was interviewed by NHK World. [Watch interview] c. Mainichi Shimbun published an article on ADBI’s conference on Strategies for Maintaining Fiscal Soundness in Aging Societies.

1

Monthly Progress Report March 2014

2. Asia Pathways posts published a. US Dollar Outlook: Secular Stagnation and the Threat from the East b. Was It All ‘Nirvana?’ Why the Emerging Country Gloom Is Mistaken c. Can the PRC Win the Hearts and Minds of Africa? d. Government Procurement – Key Element in TPP; Missed Opportunity in RCEP? 3. Working papers published: a. Does Finance Really Matter for the Participation of SMEs in International Trade? Evidence from 8,080 East Asian Firms by Yothin Jinjarak, Paulo Jose Mutuc, and Ganeshan Wignaraja b. Income Distributions, Inequality, and Poverty in Asia, 1992–2010 by Duangkamon Chotikapanich, William Griffiths, D.S. Prasada Rao, and Wasana Karunarathne c. Global Implications of the Renminbi's Ascendance by Eswar Prasad

Forthcoming Events 1. ADBI Advisory Council meeting to be held at ADBI, 8 April. 2. Policy Dialogue: RMB Internationalization and Its Regional Impact to be held at ADBI, 7 April. 3. ADBI–National School of Development conference to be held at Peking University, PRC, 18 April. 4. Technical Workshop: Financial Inclusion, Regulation, and Education to be held at ADBI, 23 April. [Read more] 5. Seminar: Dr. Hiro Lee on Agricultural Policy Reforms and the Implications of Trans–Pacific Partnership for Japan to be held at ADBI, 25 April. [Read more]

2

Monthly Progress Report April 2014

Highlights 1. Dr. Naoyuki Yoshino was inaugurated as Dean of ADBI, 1 April. 2. The ADBI Advisory Council meeting was held at ADBI, 8 April.

Dean Yoshino 1. Participated in the Japan Summit 2014 in Tokyo, 17 April. [Read more] 2. Attended the ASAN Plenum 2014, in Seoul, 22 April. [Read more]

Research 1. Seminar by Richard Barichello on Determinants of Rural Wage Rates in Java: How to Reduce Rural Poverty was held at ADBI, 10 April. [Read more] 2. Workshop on Economic Reforms in the People's Republic of China was held at Peking University, PRC, 18 April. [Read more] 3. Asia and Japan: Trading into the Future was held at ADBI, 18 April. [Read more] 4. Technical Workshop: Financial Inclusion, Regulation, and Education was held at ADBI, 23 April. [Read more] 5. Myanmar: The New Economic Powerhouse in Southeast Asia? was held at ADBI, 24 April. [Read more] 6. Seminar by Hiro Lee on Agricultural Policy Reforms and the Implications of Trans–Pacific Partnership for Japan was held at ADBI, 25 April. [Read more]

CBT 1. Policy Dialogue: RMB Internationalization and Its Regional Impact was held at ADBI, 7 April. [Read more]

Outreach 1. Media coverage: a. Dean Yoshino was quoted in articles by NHK World and Mainichi Shimbun. 2. Connecting Central Asia with Economic Centers: Interim Report was published. [Read more] 3. Asia Pathways posts published a. Is Regional Economic Integration in Central Asia a Doomed Vision or a Promising Future? b. Development Via Regional Integration – Mongolia’s Chance for a Prosperous Future c. E-commerce in Asia Brings International Price Arbitrage Opportunities 4. Working papers published:

1

Monthly Progress Report April 2014

a. A Short-Run Analysis of Exchange Rates and International Trade with an Application to Australia, New Zealand, and Japan by Jose Anson, Mauro Boffa, and Matthias Helble b. The Role of Offshore Financial Centers in the Process of Renminbi Internationalization by Yin-Wong Cheung c. The Rise of the Redback and the People's Republic of China's Capital Account Liberalization: An Empirical Analysis of the Determinants of Invoicing Currencies by Hiro Ito and Menzie D. Chinn d. Use of National Currencies for Trade Settlement in East Asia: A Proposal by Il Houng Lee and Yung Chul Park e. Asian Monetary Integration: A Japanese Perspective by Masahiro Kawai f. Dynamic Transition of the Exchange Rate Regime in the People's Republic of China by Naoyuki Yoshino, Sahoko Kaji, and Asonuma Tamon g. The People's Republic of China's Financial Markets: Are They Deep and Liquid Enough for Renminbi Internationalization? by Prince Christian Cruz, Yuning Gao, and Lei Lei Song

Forthcoming Events 1. ADB Annual Meeting Seminar on Central Asia to be held jointly with the Central and West Asia Department, in Astana, Kazakhstan, on 4 May. 2. The CBT event Regional Conference on Trade in Value-Added, Global Value Chains and Development Strategy to be held in Singapore, 6–8 May. [Read more] 3. Distinguished Speaker Seminar by Julia Fung-Yee Leung to be held at ADBI, 14 May. She will give a presentation on RMB Internationalization and the Development of an Offshore RMB Market in Hong Kong. [Read more] 4. The 9th Integrated Water Resources Management Training: Building on IWRM Good Practices – The Laguna Lake River Basin Experience to be held in Laguna Lake Basin, Philippines, 12–19 May. [Read more] 5. The Second Asia Think Tank Summit to be held jointly with Think Tanks and Civil Societies Program at University of Pennsylvania at ADBI, 21–22 May. [Read more] 6. Second Asia Think Tank Summit – Policy Dialogue to be held at ADBI, 22 May. [Read more] 7. Seminar by Gregory Claeys on Monetary Options of the ECB to Address Low Inflation to be held at ADBI, 23 May. [Read more]

2

Monthly Progress Report May 2014

Highlights 1. The Second Asia Think Tank Summit, co-hosted by ADBI and the University of Pennsylvania, was held at ADBI, 21–22 May. The summit brought together the heads of 32 leading think tanks in the Asia and Pacific region. ADB President Takehiko Nakao delivered the keynote speech and took part in a panel discussion on regional cooperation and integration. This event was followed by the Second Asia Think Tank Summit – Policy Dialogue on 22 May. [Read more]

Dean Yoshino 1. Attended the 10th Asia-Europe Economic Forum in Berlin, Germany, 15–16 May. 2. Gave a presentation at the European Bank for Reconstruction and Development Annual Meeting in Warsaw, Poland, 14 May. Research Director Ganeshan Wignaraja also gave a presentation. 3. Took part in the 2014 Bank of Japan and Institute for Monetary and Economic Studies Conference on Monetary Policy in a Post-Financial Crisis Era in Tokyo, 28–29 May.

Research 1. ADB Annual Meeting Seminar on Central Asia was held jointly with CWRD and OREI, in Astana, Kazakhstan, 4 May. Dean Yoshino attended the meeting. 2. Distinguished Speaker Seminar by Julia Fung-Yee Leung was held at ADBI, 14 May. She gave a presentation on RMB Internationalization and the Development of an Offshore RMB Market in Hong Kong. [Read more] 3. Seminar by Gregory Claeys on Monetary Options of the ECB to Address Low Inflation was held at ADBI, 23 May. [Read more]

CBT 1. Regional Conference on Trade in Value-Added, Global Value Chains and Development Strategy was held in Singapore, 6–8 May. [Read more] 2. The 9th Integrated Water Resources Management Training: Building on IWRM Good Practices – The Laguna Lake River Basin Experience was held in Laguna Lake Basin, Philippines, 12–19 May. [Read more]

Outreach 1. The latest issue of Asian Development Review was published. [Read more] 2. A new ADBI book titled Trade Policy in Asia: Higher Education and Media Services was published. [Read more] 3. Media coverage: a. Dean Yoshino was featured in a Korea Herald article. [Read more] b. Special Adviser to the Dean Giovanni Capannelli’s op-ed was published by East Asia Forum. [Read more]. And he was quoted in an Establishment Post article. [Read more]

1

Monthly Progress Report May 2014

c. Senior Consultant for Research Peter Morgan was mentioned in a Bloomberg Businessweek article. [Read more] 4. YouTube videos published 1. Gregory Claeys – Monetary Options of the ECB to Address Low Inflation [See video] 5. Asia Pathways posts published a. The New Mega-regionals: the TPP, RCEP and Beyond b. Pacific Economies: Leveraging the Benefits of East Asian and Southeast Asian Growth c. Use of National Currencies for Trade Settlement in East Asia: A Proposal 6. Working papers published: a. Preferentialism in Trade Relations: Challenges for the World Trade Organization by Patrick Low b. Stock Market Co-Movement and Exchange Rate Flexibility: Experience of the Republic of Korea by Yung Chul Park and Hail Park c. Has Financial Liberalization Improved Economic Efficiency in the Republic of Korea? Evidence from Firm-Level and Industry-Level Data by Jungsoo Park and Yung Chul Park d. The Benefits and Costs of Renminbi Internationalization by Liqing Zhang and Kunyu Tao e. Paths to a Reserve Currency: Internationalization of the Renminbi and Its Implications by Yiping Huang, Daili Wang, and Gang Fan f. Connecting South Asia to Southeast Asia: Cross-Border Infrastructure Investments by Jean-Francois Gautrin g. The Renminbi and Exchange Rate Regimes in East Asia by Masahiro Kawai and Victor Pontines

Forthcoming Events 1. Plugging into Global Value Chains: Roles of Trade and Investment Policy to be held in Shah Alam, Malaysia, 3–6 June. [Read more] 2. Building Strong Disaster Risk Management Systems in Asia to be held in Chengdu, PRC, 10–12 June. [Read more] 3. The 2nd Training Course on Competition Law and Policy for Asian Countries, jointly conducted by ADBI and Japan Fair Trade Commission, to be held in Tokyo, 9–13 June. [Read more] 4. Enhancing the Investment Environment in APEC and ASEAN Economies to be held in Melbourne, Australia, 12–18 June. [Read more] 5. Seminar by Klaus Merk – The Eurozone: End of Crisis or Crisis without End? to be held at ADBI, 18 June. [Read more]

2

Monthly Progress Report May 2014

6. Seminar by Mila Kashcheeva: Why Do Oil Importers Diversify Their Import Sources Politically? Evidence from US Firm-Level Data to be held at ADBI, 19 June. [Read more]

3

Monthly Progress Report June 2014

Dean Yoshino 1. Gave a presentation titled Agricultural Financing in Asian Countries at the International Conference on the Most Important Reserves of Implementing the Food Program in Uzbekistan, 4–7 June. 2. Gave a presentation titled Abenomics and Asian Economy at the Workshop Eurasia in Rome, 9–10 June. 3. Spoke at the opening session and second session at the International Economic Forum of the Americas, Conference of Montreal, in Montreal, 11 June. 4. Attended the 89th Annual Conference organized by Western Economic Association International in Denver, 29 June. 5. Gave a presentation titled Abenomics and Its Impact on the Asian Economy at the Brookings Institution in Washington, DC, 30 June. 6. Gave a presentation titled The Economic Implications of Abenomics at the IMF in Washington, DC, 30 June.

Research 1. ADBI conducted a plenary session at the 17th World Congress of the International Economic Association, Amman, Jordan, 6–10 June. 2. Seminar by Klaus Merk on The Eurozone: End of Crisis or Crisis without End? was held at ADBI, 18 June. [Read more] 3. Seminar by Mila Kashcheeva on Why Do Oil Importers Diversify Their Import Sources Politically? Evidence from US Firm-Level Data was held at ADBI, 19 June. [Read more]

CBT 1. Regional Plugging into Global Value Chains: Roles of Trade and Investment Policy was held in Shah Alam, Malaysia, 3–6 June. [Read more] 2. The 2nd Training Course on Competition Law and Policy for Asian Countries, jointly conducted by ADBI and Japan Fair Trade Commission, was held in Tokyo, 9–13 June. [Read more] 3. Building Strong Disaster Risk Management Systems in Asia was held in Chengdu, PRC, 10–12 June. [Read more] 4. Enhancing the Investment Environment in APEC and ASEAN Economies was held in Melbourne, Australia, 12–18 June. [Read more]

Outreach 1. Media coverage: a. Dean Yoshino was quoted in a Bloomberg News article [Read more], and he was featured in two Deutsche Welle articles. [article 1, article 2] b. The Japan Times published an article on the 2nd Asian Think Tank Summit. [Read more]

1

Monthly Progress Report June 2014

c. An article by Research Consultant Xiaoming Pan was published in The Diplomat. [Read more] 2. YouTube videos published a. Mila Kashcheeva on Why Do Oil Importers Diversify Their Import Sources Politically? Evidence from US Firm-Level Data. [See video] 3. Asia Pathways posts published a. The German Mittelstand – a Model for Asia’s Emerging Economies? b. India: Defeat of the Inclusive Growth Agenda? c. Is Finance a Binding Constraint for SME Participation in Trade in Asia? 4. Working papers published: a. Preferentialism Social Factors Affecting Women's Susceptibility to HIV in India by Priya Lall b. Economic and Political Transitions from Premodern to Modern States in the Meiji Restoration and Xinhai Revolution: A Strategic Approach by Masahiko Aoki c. The Role of Sri Lanka in Enhancing Connectivity between South Asia and Southeast Asia by Dushni Weerakoon and Nipuni Perera

Forthcoming Events 1. OECD-ADBI Economic Seminar – OECD Economic Survey of Korea 2014 to be held in Tokyo, 4 July. [Read more] 2. Building Effective Agreements in Climate Negotiations toward Sustainable Growth to be held at ADBI, 7–8 July. [Read more] 3. Seminar by Oliver Holtemoller on Global Food Prices and Business Cycle Dynamics in an Emerging Market Economy to be held at ADBI, 8 July. [Read more] 4. ADBI-IDB Panel Discussion: Emerging Issues in Latin America, Caribbean and Asia Pacific: Trade, Investment, and Cooperation to be held at ADBI, 15 July. [Read more] 5. Seminar by Ian Coxhead on 21st Century Challenges for Southeast Asia to be held at ADBI, 17 July. [Read more] 6. The ADBI book ASEAN 2030 Toward a Borderless Economic Community will be launched in Singapore, 17–18 July. 7. Seminar by Ayako Kondo on What Prevents Inter-industry Labor Reallocation? to be held at ADBI, 24 July. [Read more]

2

Monthly Progress Report July 2014

Highlights 1. Dean Yoshino launched the ADBI book “ASEAN 2030 Toward a Borderless Economic Community” in Singapore on 17 July. ASEAN Secretary-General Le Luong Minh gave the keynote speech. [Read more]

Dean Yoshino 1. Attended the ABC 2014: Asia Business Conference in Seoul, 2–3 July. 2. Gave a presentation on credit risk databases at the Credit Risk Database workshop at the Bank of Thailand in Bangkok, 10 July. The workshop was a collaboration of ADBI, Bank of Thailand, and Japan Financial Services Agency. 3. Gave a presentation on SMEs, Credit Risks and Financial Education at Chularonkorn University in Bangkok, 10 July. 4. Chaired two sessions at the 10th Annual Asia Pacific Economic Association 2014 Conference in Bangkok, 11 July.

Research 1. OECD–ADBI Economic Seminar – OECD Economic Survey of Korea 2014 was held in Tokyo, 4 July. [Read more] 2. Seminar by Oliver Holtemoller on Global Food Prices and Business Cycle Dynamics in an Emerging Market Economy was held at ADBI, 8 July. [Read more] 3. ADBI–IDB Panel Discussion: Emerging Issues in Latin America, Caribbean and Asia Pacific: Trade, Investment, and Cooperation was held at ADBI, 15 July. [Read more] 4. Seminar by Paul McNelis on Dynamic Stochastic General Equilibrium Model for Open Economies was held at ADBI, 16 July. 5. Seminar by Ian Coxhead on 21st Century Challenges for Southeast Asia was held at ADBI, 17 July. [Read more] 6. Seminar by Uwe Vollmer on Central Bank Standing Facilities and OTC- Interbank Lending was held at ADBI, 22 July. [Read more] 7. Conference on NBER Japan Project held at ADBI, 31 July to 1 August.

CBT 1. Building Effective Agreements in Climate Negotiations toward Sustainable Growth was held at ADBI, 7–8 July. [Read more] 2. Policy Dialogue: ASEAN Economic Community Post-2015 Agenda: Challenges for Integration was held in Singapore, 17–18 July. [Read more]

Outreach 1. Media coverage: a. Dean Yoshino was featured in a Japan Times article. [Read more]

1

Monthly Progress Report July 2014

b. Research Director Ganeshan Wignaraja was featured in a Daily FT article [Read more], and Nikkei Asian Review published his op-ed piece. [Read more] 2. YouTube videos published a. ADBI corporate video updated with Dean Yoshino’s introduction. [See video] 3. Asia Pathways posts published a. Time for an Asian Environmental Miracle? b. Globalizing the RMB? Beijing Appoints Three New Clearing Banks in London, Frankfurt, and Seoul 4. Working papers published: a. Financial Stability and Financial Inclusion by Peter Morgan and Victor Pontines b. Policies to Enhance Trade Facilitation in South Asia and Southeast Asia by Anthony Bayley c. Service Sector Productivity and Economic Growth in Asia by Jong-Wha Lee and Warwick J. McKibbin d. Whither Multilateral Development Finance? by Robert Wihtol

Forthcoming Events 1. Seminar by Ayako Kondo on What Prevents Inter-industry Labor Reallocation? to be held at ADBI, 12 August. [Read more] 2. Managing Financial Integration and Inclusion in ASEAN: Opportunities and Challenges to be held in Jakarta, 3–4 September. [Read more] 3. Seminar by Saumik Paul on The Livelihood Effects of Industrialization on Displaced Households – Evidence from West Bengal, India to be held at ADBI, 10 September. [Read more] 4. Seminar by Patarapong Intarakumnerd on Innovation and Technological Learning in ASEAN's Manufacturing Sector to be held at ADBI, 30 September. [Read more]

2

Monthly Progress Report August 2014

Dean Yoshino 1. Gave a presentation on Characteristics of Asia Economy, Infrastructure Finance and the Bond Market of Indonesia at the Indonesia–Japan Policy Forum 2014 held in Tokyo organized by Japan International Cooperation Agency, 25 August.

Deputy Dean Park 1. Presented at the Northeast Asia Economic Forum held in Seoul organized by Northeast Asia Economic Forum and UNESCAP-ENEA, 29 August. 2. Presented at the Asia-Pacific Financial Cooperation Seminar held in Seoul organized by the Ministry of Strategy and Finance, Korea and the APEC Business Advisory Council (ABAC), 29 August.

Research 1. Seminar by Ayako Kondo on What Prevents Inter-industry Labor Reallocation? was held at ADBI, 12 August. [Read more] 2. Seminar by Masaki Nakahigashi on Productivity Effect of Public Capital in Japan and Asian Countries was held at ADBI, 28 August. [Read more]

Outreach 1. Media coverage: a. Dean Yoshino was quoted in a Bloomberg News article. [Read more] b. A working paper by Research Director Ganeshan Wignaraja, Trade Policy and Growth in Asia, was featured in a Business Mirror article. [Read more] 2. YouTube videos published a. Ayako Kondo - What Prevents Inter-Industry Labor Reallocation? b. Dean Yoshino Speech at Launch of ASEAN 2030—Toward a Borderless Economic Community c. Giovanni Capannelli Speech at Launch of ASEAN 2030—Toward a Borderless Economic Community d. Le Luong Minh, ASEAN Secretary-General, Speech on Launch of ASEAN 2030 3. Asia Pathways posts published a. Southeast Asia’s energy subsidies are a tax on development b. Increased lending to SMEs aids financial stability c. The NDB and AIIB initiatives sound a wake-up call for global finance 4. Working papers published: a. Three Arrows of "Abenomics" and the Structural Reform of Japan: Inflation Targeting Policy of the Central Bank, Fiscal Consolidation, and Growth Strategy by Naoyuki Yoshino and Farhad Taghizadeh-Hesary

1

Monthly Progress Report August 2014

b. Measuring Value Added in the People's Republic of China's Exports: A Direct Approach by Yuqing Xing c. Economic Implications of Deeper South Asian-Southeast Asian Integration: A CGE Approach by Ganeshan Wignaraja, Peter J. Morgan, Michael Plummer, Fan Zhai d. Trade Policy and Growth in Asia by Masahiro Kawai and Ganeshan Wignaraja e. From Global Factory to Global Mall: East Asia's Changing Trade Composition by Matthias Helble and Boon-Loong Ngiang

Forthcoming Events 1. Managing Financial Integration and Inclusion in ASEAN: Opportunities and Challenges to be held in Jakarta, 3–4 September. [Read more] 2. Seminar by Saumik Paul on The Livelihood Effects of Industrialization on Displaced Households – Evidence from West Bengal, India to be held at ADBI, 10 September. [Read more] 3. Seminar on Evolving Asian Economies: ASEAN, the People's Republic of China, and India to be held at ADBI, 17 September. [Read more] 4. ADBI Advisory Council Meeting to be held at ADB, Manila, 29 September. 5. Seminar to present the findings of the final report of the ADB-ADBI study on Connecting South Asia and Southeast Asia to be held at ADB, Manila, 30 September. 6. Policy Dialogue on SMEs and Trade-Driven Productivity to be held at ADB, Manila, 30 September.

2

ADBI Monthly Progress Report September 2014

Highlights

1. ADBI held its semi-annual Advisory Council Meeting at ADB on 29 September. President Takehiko Nakao delivered opening remarks at the meeting.

Dean Yoshino 1. Attended the conference Managing Financial Integration and Inclusion in Jakarta, Indonesia, on 3–4 September. He spoke to an audience of senior government officials from the Asian region on the importance of mobilizing savings to promote financial inclusion. Read more. 2. Participated in the seminar Evolving Asian Economies at ADBI on 17 September. Read more.

Deputy Dean Park 1. Attended the Training Course on Climate Change Impacts and Mitigation Efforts in the Transportation Sector at Hiroshima University on 23–25 September. He delivered opening remarks. Read more. 2. Attended the Trilateral Workshop of KIEP–PRI–CASS in Seoul, Republic of Korea, on 25 September. He presented a paper on the Economic Developments of the People’s Republic of China, Japan, and the Republic of Korea. 3. Participated in a Policy Dialogue on SMEs and Trade-Driven Productivity at ADB on 30 September. He delivered opening and closing remarks. Read more.

Research 1. Seminar on Global Value Chains: Is Everyone Benefitting was held at the Overseas Development Institute in London, UK, on 5 September. Read more. 2. Seminar by Saumik Paul on The Livelihood Effects of Industrialization on Displaced Households – Evidence from West Bengal, India, was held at ADBI on 10 September. Read more. 3. Seminar on Evolving Asian Economies was held at ADBI on 17 September. Read more. 4. Distinguished Speaker Seminar: Akira Goto – Patents and Catch-up was held at ADBI on 25 September. Read more. 5. Seminar to present the findings of the final report of the ADB-ADBI study Connecting South Asia and Southeast Asia was held at ADB on 30 September.

Capacity Building and Training 1. Conference on Managing Financial Integration and Inclusion in ASEAN: Opportunities and Challenges was held in Jakarta, Indonesia, on 3–4 September. Read more.

1

ADBI Monthly Progress Report September 2014

2. Training Course on Climate Change Impacts and Mitigation Efforts in the Transportation Sector was held at Hiroshima University on 23–25 September. Read more. 3. Policy Dialogue on SMEs and Trade-Driven Productivity was held at ADB on 30 September. Read more.

Outreach 1. Media coverage: a. Dean Yoshino was interviewed in Deutsche Welle on the topic of Abenomics. Read more. b. ADBI was cited in an article in Business Times. Read more. c. ADBI was cited in an article in Beijing Business Today. Read more. d. Publication ASEAN 2030: Toward a Borderless Economic Community was cited in an article in the Jakarta Post. Read more. e. Working paper Multilateralizing Asian Regionalism was cited in an article in the Journal of Turkish Weekly. Read more. 2. Books: a. Disaster Risk Management in Asia and the Pacific. Read more. b. ASEAN, PRC, and India: The Great Transformation. Read more. c. Reform of the International Monetary System: An Asian Perspective. Read more. 3. Working papers: a. Response of Stock Markets to Monetary Policy: An Asian Stock Market Perspective. Read more. b. A Connectivity-Driven Development Strategy for Nepal: From a Landlocked to a Land-Linked State. Read more. c. The Pacific's Connectivity and Its Trade Implications. Read more. d. Connecting South Asia and Southeast Asia: A Bangladesh Country Study. Read more. e. Connecting South Asia and Southeast Asia: Implementation Challenges and Coordination Arrangements. Read more. 4. Asia Pathways posts: a. Improved Flight Connectivity Could Spur Tourism and Economic Growth in the Pacific Region. Read more. b. Banking Integration in ASEAN Gathers Pace. Read more. c. Can President-Elect Joko Widodo Transform Indonesia’s Economy? Read more.

2

ADBI Monthly Progress Report September 2014

d. Renminbi Stepping in Right Direction toward Internationalization. Read more. e. Myanmar in Transition: Economic Development and Shifts in Foreign Aid from East Asia. Read more.

Forthcoming Events 1. Distinguished Speaker Seminar: Shang-Jin Wei: Revisiting Conventional Wisdom in a World with Global Value Chains to be held at ADBI on 3 October Read more. 2. Modernizing Sanitary and Phytosanitary Measures to Expand Trade and Ensure Food Safety: Sharing the Baltic Experience to be held in Ulaanbaatar, Mongolia, on 6–8 October. Read more. 3. Seminar by Patarapong Intarakumnerd: Innovation and Technological Learning in ASEAN's Manufacturing Sector to be held at ADBI on 7 October. Read more. 4. Seminar by Sang Chul Park: Comparing European and Asian Integration to be held at ADBI on 8 October. Read more. 5. ADBI–Bank of Finland Seminar on Recent Economic Developments in the Euro Area and the Russian Federation to be held at ADBI on 14 October. Read more. 6. Policy Dialogue: Financing SMEs: Sharing Ideas for Effective Policies to be held in Jakarta, Indonesia, on 15–16 October. Read more. 7. Seminar by Don Drummond: The Impact of the Rise of Emerging Economies on Developed Countries: Good, Bad or Indifferent? to be held at ADBI on 24 October.

3

ADBI Monthly Progress Report October 2014

Dean Yoshino 1. Spoke on "Trade Links between Asia and Latin America" at the Johns Hopkins School of Advanced International Studies in Washington, DC, on 1 October. The presentation was part of the International Development Roundtable Series that aims to expand the conversation around major questions facing development practitioners and policy makers. See video. 2. Attended the conference Growth Strategies for a Rising Indonesia in Bali, Indonesia, on 10–11 October. 3. Attended the conference Exchange Rates, Monetary Policy, and Financial Stability in Emerging Markets and Developing Countries in Leipzig, Germany, on 13–14 October. 4. Attended high-level seminar to discuss draft ADB recommendations for the 13th five-year plan in Beijing, PRC, on 23 October.

Deputy Dean Park 1. Attended the policy dialogue Financing SMEs: Sharing Ideas for Effective Policies in Jakarta, Indonesia, on 15–16 October. Read more. 2. Attended APEC Finance Deputies’ Meeting on 21–22 October and the ADB High-Level Workshop on 23 October in Beijing, PRC. 3. Attended high-level seminar to discuss draft ADB recommendations for the 13th five-year plan in Beijing, PRC, on 23 October.

Research 1. Distinguished Speaker Seminar: Jiang-Shin Wei – Revisiting Conventional Wisdom in a World with Global Value Chains was held at ADBI on 3 October. Read more. 2. Seminar on Innovation and Technological Learning in ASEAN's Manufacturing Sector by Patarapong Intarakumnerd was held at ADBI on 7 October. Read more. 3. Seminar on Comparing European and Asian Integration by Sang Chul Park was held at ADBI on 8 October. Read more. 4. Seminar on the Impact of the Rise of Emerging Economies on Developed Countries by Don Drummond was held at ADBI on 24 October. Read more 5. Distinguished Speaker Seminar: Mohammad Zubair Khan – Governance and Economic Performance in the Context of Pakistan's Experience was held at ADBI on 27 October. Read more.

Capacity Building and Training 1. Training course on Modernizing Sanitary and Phytosanitary Measures to Expand Trade and Ensure Food Safety: Sharing the Baltic Experience was held in Ulaanbaatar, Mongolia, on 6–8 October. Read more. 2. ADBI–Bank of Finland Seminar on Recent Economic Developments in the Euro Area and the Russian Federation was held at ADBI on 14 October. Read more. 3. Policy dialogue on Financing SMEs was held in Jakarta, Indonesia, on 15–16 October. Read more. 4. Roundtable on Competition Policy was held in Tokyo, Japan, on 19–22 October. Read more.

Outreach 1. Media coverage: a. Dean Yoshino was interviewed by Thomson Reuters on global financial markets. Read more (in Japanese). b. Dean Yoshino presented on a Johns Hopkins University YouTube video. See video. c. ADBI working paper “Connecting South Asia and Southeast Asia: A Bangladesh Country Study” was cited in an article in Financial Express. Read more. d. ADBI was cited in an article in Thai News Service. e. ADBI was cited in an article in Business Standard. Read more. f. ADBI was cited in an article in EIN News. Read more. g. ADBI was cited in an article in Businessworld. Read more. h. ADBI was cited in an article in VVCircle. Read more i. ADBI was cited in an article in FoodBev.com. Read more. j. Asia Pathways article was reposted in Economy Watch. Read more. k. Asia Pathways article was reposted in Eco Daily. Read more. 2. Books: a. Financial Inclusion in Asia: Country Surveys. Read more. 3. Working papers: a. Dynamic Analysis of Exchange Rate Regimes: Policy Implications for Emerging Countries in Asia. Read more. 4. Asia Pathways posts: a. Walkability—Building Cities for People, Too. Read more.

2

b. Securing Energy for a Low-Carbon Asia: What Needs Fixing? Read more.

Forthcoming Events 1. 2014 ADBI-Keio Executive Training in Economics: Contemporary Macroeconomic Policies in a Globalized Economy to be held on 3–7 November at ADBI and Keio University. Read more. 2. Workshop on SME Productivity in Asia: Getting the Policies Right to be held in Kuala Lumper, Malaysia on 10–11 November. Read more. 3. Distinguished Speaker Seminar: Masahiko Aoki – A Revisionist View of Comparative PRC–Japan Economic Histories: Based on a Game Model to be held at ADBI on 11 November. Read more. 4. Seminar on Connecting South Asia and Southeast Asia: Final Report Presentation to be held at ADBI on 13 November. Read more.

3

ADBI Monthly Progress Report November 2014

Dean Yoshino 1. Attended 14th International Convention of the East Asian Economic Association at Chulanongkorn University, Bangkok, Thailand, on November 1. Read more. 2. Presented at an academic conference on economics at Wakayama University on 2 November. 3. Attended Budget Review Committee meeting at ADB on 4 November. 4. Attended Asian Regional Cooperation and Integration Roundtable Conference: The Future of Regional Cooperation and Integration and Productivity at ADB on 17–18 November. Read more. 5. Attended the Network of Asian River Basin Organizations 10-Year Special Meeting in Manila, Philippines, on 19 November. Read more. 6. Attended the S. Rajaratnam School of International Studies Economic Growth Center Conference on ASEAN's Long-term Economic Potential and Vision in Singapore on 20–21 November. Read more.

Deputy Dean Park 1. Attended Budget Review Committee meeting at ADB on 4 November. 2. Attended Bank of Korea–International Monetary Fund Joint Conference in Seoul, Republic of Korea, on 19–21 November.

Research 1. Distinguished Speaker Seminar: Masahiko Aoki—A Revisionist View of Comparative PRC–Japan Economic Histories: Based on a Game Model was held at ADBI on 11 November. Read more. 2. Seminar on Connecting South Asia and Southeast Asia: Final Report Presentation was held at ADBI on 13 November. Read more. 3. Seminar on Foreign Participation in Korean Treasury Cash and Futures Markets by Cyn-Young Park was held at ADBI on 13 November. Read more. 4. ADBI–OECD Joint Seminar on Southeast Asia, PRC, and India was held at ADBI on 19 November. Read more.

Capacity Building and Training 1. ADBI–Keio Executive Training in Economics on Contemporary Macroeconomic Policies in a Globalized Economy was held at ADBI on 3–7 November. Read more. 2. Workshop on SME Productivity in Asia: Getting the Policies Right was held in Kuala Lumpur, Malaysia, on 10–11 November. Read more. 3. Network of Asian River Basin Organizations 10-Year Special Meeting and High Level Panel Workshop were held in Manila on 19–20 November. Read more.

4. Policy dialogue on Promoting Renewable Energy for Climate Change Mitigation and Green Development in Asian Countries was held at ADBI on 25 November. Read more. 5. A workshop on the Impact and Financing of Infrastructure Investments in the Asia and Pacific Region was held at ADBI on 26–27 November. Read more.

Outreach 1. Media coverage a. ADBI cited in an article in the Brunei Times on 1 November. Read more. b. Research Director Wignaraja’s comments reported in an article in the Bangkok Post on 4 November. Read more. c. Research Director Wignaraja interviewed by the Wall Street Journal on 7 November. See video. d. Dean Yoshino quoted in the Spanish newspaper El Confidencial on 10 November (in Spanish). Read more. 2. Books a. Connecting Central Asia with Economic Centers: Final Report. Read more. 3. Working papers a. Effectiveness of the Easing of Monetary Policy in the Japanese Economy, Incorporating Energy Prices. Read more. b. Financial Inclusion, Regulation, and Education in Sri Lanka. Read more. c. Hometown Investment Trust Funds: An Analysis of Credit Risk. Read more. 4. Asia Pathways posts a. Window of Opportunity Still Open on Climate Action. Read more. b. From Global Factory to Global Mall: East Asia’s Changing Export Composition. Read more. c. From the Russian Federation’s Focus on Europe to Its Pivot to Asia. Read more. d. An Analysis of Challenges Faced by Abenomics. Read more.

Forthcoming Events 1. Seminar on Will Skyscrapers Save the Planet? Building Height Limits and Urban Greenhouse Gas Emissionsto to be held on 1 December at ADBI. Read more.

2

2. ADBI Annual Conference on Outlook and Financing Requirements of Asian Growth to be held at ADBI on 5 December. Read more. 3. 11th Asia–Europe Economic Forum: What Can Asia Learn from Economic Reforms in Europe? to be held at ADBI on 5–6 December. Read more.

3

ADBI Monthly Progress Report December 2014

Dean Yoshino 1. Attended Board Meeting at ADB on 12 December. 2. Presented at the seminar on Feasibility of Establishing Postal Savings Banks in Jakarta, Indonesia, on 15 December. 3. Presented at the OECD/Thailand seminar on Financial Inclusion and Financial Literacy in Asia in Bangkok, Thailand, on 16 December. Read more. 4. Presented at the policy dialogue on Postal Savings Systems in CLMV Countries in Yangon, Myanmar, on 19 December. Read more. 5. Attended seminar on Economic Integration and PRC–Japan Economic Cooperation in Shanghai, PRC, on 21 December.

Deputy Dean Park 1. Presented at the Ministry of Strategy and Finance (ROK)–Korea Institute for International Economic Policy seminar at Hotel New Otani in Tokyo, Japan, on 3 December. 2. Attended the Global Think Tank Summit on the theme Think Tanks, Public Policy, and Governance: National, Regional, and Global Perspectives in Geneva, Switzerland, on 4 December. Read more. 3. Attended a meeting at OECD in Paris, France, on 4 December. 4. Attended Board Meeting at ADB on 12 December.

Research 1. Seminar on Will Skyscrapers Save the Planet? Building Height Limits and Urban Greenhouse Gas Emissions by Rainald Borck was held at ADBI on 1 December. Read more. 2. ADBI Annual Conference on Outlook and Financing Requirements of Asian Growth was held at ADBI on 5 December. Read more. 3. 11th Asia Europe Economic Forum: What Can Asia Learn From Economic Reforms in Europe? was held at ADBI on 5– 6 December. Read more. 4. Seminar on Chinese Outward Mergers and Acquisitions to Japan: Do They Have any Impact? by Richard Nakamura was held at ADBI on 10 December. Read more. 5. Roundtable Discussion on SME Competitiveness and Trade was held at ADBI on 11 December. Read more. 6. ADB–ADBI Brainstorming Workshop: Housing Policies for Emerging Asia was held at ADBI on 17 December. Read more.

1

Capacity Building and Training 1. Workshop on Feasibility of Establishing Postal Savings Banks was held in Jakarta, Indonesia, on 15 December. 2. Policy dialogue on Postal Saving Systems in CLMV Countries: Assessing Their Role in Improving Financial Inclusion was held in Yangon, Myanmar, on 19 December. Read more.

Outreach 1. Media coverage a. Asia Pathways article “Paths to Development: Is There a Bangladesh Surprise?” was reproduced in Economy Watch (“Should the Progress in Bangladesh Come as a Surprise?”) on 8 December. Read more. b. Dean cited in an article in Record China on 9 December. Read more. c. Dean cited in an article in Tempo.com (Indonesia) on 9 December. Read More. d. Article written by ADBI Research Director Ganeshan Wignaraja and ADBI Project Consultant Jenny Balboa was included in the 25 December edition of East Asia Forum. Read more. 2. Working papers a. Myanmar: The Key Link between South Asia and Southeast Asia. Read more. b. India's Emerging Connectivity with Southeast Asia: Progress and Prospects. Read more. c. Seaborne Trade between South Asia and Southeast Asia. Read more. 3. Asia Pathways posts a. Paths to Development: Is There a Bangladesh Surprise? Read more. b. ASEAN Economic Community 2015: What Is Next? Read more. c. Minimizing Asian Losses from the TTIP: A European View. Read more. d. The Challenges to Internationalizing Japanese Higher Education. Read more.

Forthcoming Events 1. 10th Microfinance Training of Trainers: A Blended Distance Learning Course to be held in Tokyo, Japan, from January to May. Read more. 2. ADBI–IDB 2015 Latin America/Caribbean and Asia/Pacific Economics and Business Association (LAEBA) seminar on SME Internationalization to be held at ADBI on 16 January. Read more.

2

3. Seminar on Eurasia: The Last or New Frontier for the WTO? by Chiedu Osakwe to be held at ADBI on 20 January. Read more. 4. ADBI–JFSA–OECD Symposium on Financial Education to be held at ADBI on 23–23 January. Read more. 5. 2014 Global Go-To Think Tank Index Report Launch to be held in Tokyo, Japan, on 23 January. 6. 5th Roundtable on Labour Migration to be held in Shanghai, PRC, on 28–30 January.

3