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Institutions For Asian Connectivity

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  • BISWA NATH BHATTACHARYAY

    ()
    (ADB Institute Tokyo, Japan; ADB, Manila, Philippines)

Abstract

To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional connectivity. The effectiveness of this connectivity depends on the quality of hard and soft infrastructure. Of particular importance in terms of soft (facilitating) infrastructure that makes hard (physical) infrastructure work are the facilitating institutions that support connectivity through appropriate policies, reforms, systems, procedures, and through promoting effective coordination and cooperation. Asia has many overlapping subregional institutions involved in national and regional energy, transport, and telecommunications infrastructure connectivity. However, these institutions are characterized as being less effective, informal, and lacking a clear and binding system of rules and policies. To build seamless Asian connectivity, Asia needs an effective, formal, and rules-based institutional framework. The paper presents a new institutional framework for Pan-Asian connectivity together with the organizational structures of two new regional institutional mechanisms, namely the Pan-Asian Infrastructure Forum and the Asian Infrastructure Fund.

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Bibliographic Info

Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal Journal of International Commerce, Economics and Policy.

Volume (Year): 01 (2010)
Issue (Month): 02 ()
Pages: 309-335

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Handle: RePEc:wsi:jicepx:v:01:y:2010:i:02:p:309-335

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Related research

Keywords: Infrastructure connectivity; regional institutions; Asia; financing infrastructure; governance; R50; R40; R58; R10;

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  1. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-99, June.
  2. T. Sonobe & D. Hu & K. Otsuka, 2002. "Process of Cluster Formation in China: A Case Study of a Garment Town," Journal of Development Studies, Taylor & Francis Journals, vol. 39(1), pages 118-139.
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Cited by:
  1. Bhattacharyay, Biswa N., 2010. "Estimating Demand for Infrastructure in Energy, Transport, Telecommunications, Water and Sanitation in Asia and the Pacific: 2010-2020," ADBI Working Papers 248, Asian Development Bank Institute.
  2. Biswa Bhattacharyay, 2012. "Seamless sustainable transport connectivity in Asia and the Pacific: prospects and challenges," International Economics and Economic Policy, Springer, vol. 9(2), pages 147-189, June.
  3. Chin, Gregory, 2012. "Responding to the Global Financial Crisis: The Evolution of Asian Regionalism and Economic Globalization," ADBI Working Papers 343, Asian Development Bank Institute.
  4. Vaqar, Ahmed & Ghulam, Samad, 2011. "Trade facilitation for economic corridors in South Asia: the perspective of Pakistan," MPRA Paper 31368, University Library of Munich, Germany.
  5. Biswa N. Bhattacharyay, 2011. "Toward a Sustainable Transport Development in Asia and the Pacific," CESifo Working Paper Series 3539, CESifo Group Munich.

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