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The 2030 Agenda and Capital Market Integration in ASEAN

In: Sustainable Development Goals and Pandemic Planning

Author

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  • Peter Wolff

    (German Development Institute/Deutsches Institut für Entwicklungspolitik (DIE))

Abstract

The aim of this paper is to take stock of the challenges of financing – in general and private capital markets in particular – the 2030 Agenda in ASEAN with a focus on achieving SDGs through investment in sustainable infrastructure. Most of the SDGs imply improvements in infrastructure, encompassing everything from employment, health and education to access to energy, clean water and sanitation, conserving natural resources and reducing the impact of climate change. Against this background, the latest policy initiatives in ASEAN capital market development as well as in the area of sustainable finance are reviewed. Since ASEAN faces the dual challenges of the economic recovery from the COVID-19 pandemic and long-term sustainable development, it is argued that a speeding up of regional financial cooperation – integration of banking and capital markets, development of regional bond markets and financial crisis management through ASEAN+3 CMIM – is instrumental for ASEAN sustainable growth and competitiveness. This is contrasted with the recent combination of sustainable growth policies (Green Deal) and the Capital Market Union project of the EU. Differences and similarities between ASEAN and EU are highlighted.

Suggested Citation

  • Peter Wolff, 2022. "The 2030 Agenda and Capital Market Integration in ASEAN," Springer Books, in: Venkatachalam Anbumozhi & Kaliappa Kalirajan & Fukunari Kimura (ed.), Sustainable Development Goals and Pandemic Planning, chapter 13, pages 543-565, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-6734-3_13
    DOI: 10.1007/978-981-16-6734-3_13
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    More about this item

    Keywords

    Capital market development; SDGs; Sustainable finance;
    All these keywords.

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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