Financing Development Cooperation in Northeast Asia
AbstractInfrastructure connectivity in Northeast Asia—comprising the northeastern People’s Republic of China, Japan, the Democratic People’s Republic of Korea, the Republic of Korea, Mongolia, and the Russian Far East—has been hindered by limited intergovernmental cooperation. The paper finds that total infrastructure investment needs for Northeast Asia excluding Japan and the Republic of Korea (in transport, energy, information and communication technology, and the environment) could be $63 billion per year over the next 10 years. Of this total, $13 billion would have to be mobilized every year from external sources. The paper considers three options to fund these needs in addition to traditional financing by bilateral and multilateral agencies: (i) special and/or trust funds newly set up in existing multilateral development banks (MDBs), (ii) a structured infrastructure investment fund supported by MDBs, and (iii) a new subregional multilateral development bank. It suggests that the first two have potential, but recommends against establishing a new development bank.
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Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 407.
Length: 40 pages
Date of creation: 17 Feb 2013
Date of revision:
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infrastructure development and connectivity; subregional cooperation programs in asia; northeast asian infrastructure forum; northeast asian infrastructure fund;
Other versions of this item:
- Masahiro Kawai, 2013. "Financing Development Cooperation in Northeast Asia," Development Economics Working Papers 23392, East Asian Bureau of Economic Research.
- Masahiro Kawai, 2013. "Financing Development Cooperation in Northeast Asia," Finance Working Papers 23392, East Asian Bureau of Economic Research.
- F15 - International Economics - - Trade - - - Economic Integration
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-09 (All new papers)
- NEP-CDM-2013-03-09 (Collective Decision-Making)
- NEP-CIS-2013-03-09 (Confederation of Independent States)
- NEP-PPM-2013-03-09 (Project, Program & Portfolio Management)
- NEP-SEA-2013-03-09 (South East Asia)
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- Wihtol, Robert, 2014. "Whither Multilateral Development Finance?," ADBI Working Papers, Asian Development Bank Institute 491, Asian Development Bank Institute.
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