Depressed commodity prices, energy challenges, and negative policy interest rates in advanced economies were some of the issues discussed at a roundtable that ADBI co-hosted with ADB, the OECD, AMRO, and ERIA on 14–15 July. This event brought together leading experts from Asian countries and OECD member countries to discuss recent economic developments. It provided opportunities for dialogue on near-term macroeconomic policies and medium-term growth and development challenges, and discussed domestic, regional, and global trends that are changing the environment. The roundtable concluded that structural reform was necessary to improve current growth rates. Read more.

The Bank of Japan implemented a negative interest rate policy in January 2016 in the face of heightened global risks, including slower growth of the People's Republic of China and high volatility of global markets, said Naoko Nemoto, financial economist at ADBI. Speaking to about 150 investors, researchers, and policy makers at Bloomberg's Fixed Income Forum in Tokyo- on 15 June, she showed that the unconventional monetary policy had not yet increased consumption and capital expenditures. Read more in Japanese.

How can cities be made more livable? By investing in infrastructure, ADBI Dean Naoyuki Yoshino said at a conference in Singapore on 12 July. Investment attracts industry and creates jobs, he explained, and increases corporate, income, and property tax revenues from new industries, workers, and housing. Some of the revenue can be given to investors, making projects more viable. "Cities and Middle-Income Countries" was organized by ADB with the Asian Competitiveness Institute, Lee Kuan Yew School of Public Policy, National University of Singapore. Read more.

ADBI signs first data sharing deal with IMF
ADBI Dean Yoshino signed an agreement with the IMF to share metadata on their respective knowledge products – on the IMF's 16,000-item eLibrary and the relaunched Think Asia repository (formerly OAR). This exchange will make Asian ideas and knowledge more easy to find among the world's leading repositories of information. The Think Asia initiative aims to aggregate knowledge from the region's top think tanks and make it usable by the millennial generation. Read more.

ADBI encourages dialogue on regional integration among Pacific economies
How does inclusive growth make Pacific island countries more resilient? Improving labor mobility, reforming state-owned enterprises, fostering renewable energy, adapting to climate change, and connecting the region through infrastructure and trade were issues examined at a conference in Suva, Fiji, on 18–19 July. ADBI co-organized the event in collaboration with ADB, the University of the South Pacific, and the Australian National University. Over 200 academics and policy makers attended. Read more.

What are the effects of urbanization and housing on quality of life in Asia?
Urbanization and housing have impacted the quality of life in Asia. ADBI Research Director Guanghua Wan and Research Economist Matthias Helble presented their latest work on the subject at the international conference of the American Real Estate and Urban Economics Association, Alicante, Spain, 6–9 July. Academics, practitioners, and policy makers presented their findings on real estate economics, real estate finance, urban economics, and related areas. Read more.

ADBI researcher thinks BOJ should implement alternative policies
ADBI Visiting Fellow and former BOJ Board member Sayuri Shirai has indicated that the BOJ's recent interventions have adversely affected the markets and impacted negatively on the economy. Read more.

ADBI visiting fellow sees BOJ running out of room
Ex BOJ Board member Sayuri Shirai thinks that further quantitative easing and interest rate reductions are not the tools the BOJ should be using to pull Japan out of the doldrums. Read more.

• Costly Real Estate Bubbles?
  5 August; Tokyo, Japan
• Uncovering Monetary Transmission Mechanisms in Low-Income Countries
  8 August; Tokyo, Japan
• Project Financing and Sustainable Development of Railway Infrastructure
  10-11 August; Bangkok, Thailand
• Obesity in Asia and the Pacific: Facts, Prospects, Consequences, and Policies for Better Health
  17-18 August; Tokyo, Japan
• Joint Training Program on Economic Corridor Development for Competitive and Inclusive Asia
  17-19 August; Singapore
• Global Shocks and the New Global and Regional Financial Architecture
  23-24 August; Singapore

>> More ADBI events

• The Implications of Ultra-Low and Negative Interest Rates for Asia
• Developing Credit Databases and Credit Scoring for Micro, Small, and Medium-Sized Enterprises and Promoting Start- Up Businesses
• Aging in Asia

>> More calls for papers

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• Does internal and external research and development affect innovation of small and medium-sized enterprises? Evidence from India and Pakistan
• What can we learn from the trade and growth nexus in the Republic of Korea?
• Some knowledge economy lessons from the Republic of Korea for Africa
• Uncertainty about Federal Reserve policy and its transmission to emerging economies: Evidence from Twitter
• Technology and innovation for SMEs: Policy lessons from East Asia

>> More posts

• PRC Faces Challenges to Growth
• ADBI Research Fellow Speaks on Central Bank Decision to Double the Purchase of ETFs
• Deputy Dean Yu Talks about Green Energy (03:21.30)
• Efficiency and Fairness in Government Expenditure in Papua New Guinea (01:34.00)

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Technology and Innovation Policies for Small and Medium-Sized Enterprises in East Asia

Policy makers in East Asia must understand the current needs and technological barriers facing SMEs, according to this working paper. They must have a deep understanding of what constitutes innovations and innovation systems, and how they evolve over time. Innovation financing policies require other corresponding policy initiatives to make them successful, and institutional factors shape the choices and effective implementation of these policies. Download and read.

Skills Training by Small and Medium-Sized Enterprises: Innovative Cases and the Consortium Approach in the Republic of Korea

SMEs in developing economies contribute to growth, employment, productivity, and investment, and therefore merit special support. This paper presents targeted government policies in the Republic of Korea for promoting training in SMEs to increase their contributions to economic development. Download and read.

Dynamics of Innovation and Internationalization among Small and Medium-Sized Enterprises in Viet Nam

Past internationalization can affect the future process innovation of firms. This paper examines the bidirectional causality between innovation and internationalization in the context of developing countries. Download and read.

Finance for Micro, Small, and Medium-Sized Enterprises in India: Sources and Challenges

Finance for MSMEs has been a concern for all stakeholders including entrepreneurs, financial institutions, and government organizations. The key objective of this working paper is to identify various challenges faced by MSMEs in sourcing of finance during different stages of their life cycle. This study is a first-of-its-kind attempt to focus on these aspects with data from MSMEs in India. Download and read.

Small Firms, Human Capital, and Productivity in Asia

Hiring more educated workers and providing them with additional training will contribute to improved firm productivity. This paper analyzes the link between human capital and firm-level productivity in five Asian countries. Download and read.

Commercial Bank Innovations in Small and Medium-Sized Enterprise Finance: Global Models and Implications for Thailand

Ways to engage mainstream commercial banks in microfinance should be explored to promote financial access in Thailand. This paper explores various business models by commercial banks in microfinance and provides policy implications for Thailand. Download and read.

Urbanization, Inequality, and Poverty in the People's Republic of China

Relying on the present literature, official statistics, and household survey data in the People's Republic of China, this paper summarizes research findings on the relationship between urbanization, urban–rural inequality, and poverty, and provides further empirical evidence on the role of urbanization and government policies in urban poverty. Download and read.

Capital Inflow Surges and Consequences

Depending on their source, capital inflows may benefit emerging markets or cause macroeconomic and financial instability. This paper examines whether the source of the inflow (residents repatriating foreign assets or non-residents investing in the country) or the type of inflow (foreign direct investment, portfolio, other investment) makes any difference to the consequences of the capital flow. Download and read.

Optimal Credit Guarantee Ratio for Asia

The optimal credit guarantee ratio is determined by government policy, economic conditions, and financial soundness of banks. The research in this working paper provides a theoretical model and an empirical analysis of factors that determine the optimal credit guarantee ratio. The ratio should be able to fulfill the government's goal of minimizing nonperforming loans to small and medium-sized enterprises (SMEs) and to fulfill the government policies for supporting SMEs. Download and read.

Bridging the "Missing Middle" between Microfinance and Small and Medium-Sized Enterprise Finance in South Asia

Drawing on interviews with chief executives of lending organizations and desk research, this paper reviews the options currently available to SMEs in each country, the lending models being used, and recent policy initiatives to promote them. Based on the country experiences, the features of successful lending models for this segment and the specific challenges that need to be addressed are summarized and conclusions drawn. Download and read.

Barriers to Innovation in Indian Small and Medium-Sized Enterprises

Developing economies must foster innovation support mechanisms for SMEs. This paper aims to study and present the current state of innovation in SMEs in India, bringing out the key barriers they face in the innovation process in the context of the existing government policy. Download and read.

Credit Surety Fund: A Credit Innovation for Micro, Small, and Medium-Sized Enterprises in the Philippines

Credit helps MSMEs to grow, generates jobs, and contributes to inclusive economic growth. MSMEs are a backbone of the Philippine economy. One factor that hinders the growth of these enterprises is their difficulty in accessing finance from banks and other financial institutions. Download and read.

Volatility Contagion across the Equity Markets of Developed and Emerging Market Economies

Equity fund flows are a channel for spillover of variance risk premiums (VRPs) in the equity markets in the United States to those in other developed economies. Using VRPs nonparametrically calculated from equity markets in selected major developed economies and emerging market economies over 2007‒2015, this paper documents the correlation of VRPs across the markets and examines whether equity fund flows work as a path through which VRPs spill over globally. Download and read.

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