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Institutions for Asian Connectivity

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  • Bhattacharyay, Biswa

    (Asian Development Bank Institute)

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 connectivity depends on the quality of hard and soft infrastructure. Of particular importance in terms of soft infrastructure which makes hard infrastructure work are the facilitating institutions that support connectivity through appropriate policies, reforms, systems, and 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. This paper draws linkages between connectivity, growth and development, governance, and institutions. It details the benefits the region could achieve by addressing needed connectivity enhancements and the connectivity and financing challenges it faces. In addition, it presents various institutional options for regional infrastructure financing. To build seamless Asian connectivity, Asia needs an effective, formal, and rules-based institutional framework. The paper presents a new institutional framework 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

Paper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 220.

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Length: 29 pages
Date of creation: 24 Jun 2010
Date of revision:
Handle: RePEc:ris:adbiwp:0220

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Keywords: asian infrastructure financing; asian infrastructure connectivity; asian institutions;

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Cited by:
  1. Biswa N. Bhattacharyay, 2011. "Toward a Sustainable Transport Development in Asia and the Pacific," CESifo Working Paper Series 3539, CESifo Group Munich.
  2. 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.
  3. Biswa Nath Bhattacharyay, 2010. "Estimating Demand for Infrastructure in Energy, Transport, Telecommunications, Water and Sanitation in Asia and the Pacific: 2010-2020," Working Papers id:2911, eSocialSciences.
  4. 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.

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