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Macroeconomic Policy Coherence for SDG 2030: Evidence from Asia Pacific

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  • Chakraborty, Lekha

    (National Institute of Public Finance and Policy)

Abstract

The paper analyses the macroeconomic policy coherence required for sustainable development goals (SDGs) in the context of Asia Pacific region. Specifically, the paper analyses the monetary, fiscal and structural policy reforms and suggest specific policy tools to integrate SDGs in macroeconomic policies. The analysis reveals that the transition of macroeconomic framework from `discretion' to `controlled discretion' and `rules' acts as a constraint to integrate SDGs into the policy framework. In the region, the monetary policy is increasingly focusing on inflation targeting, while the fiscal policy is based on the threshold rules of fiscal deficit-GDP ratio. Within these constraints of the macroeconomic framework, a few countries in the region have identified specific policy tools to integrate SDGs within a `beyond GDP paradigm'- in particular using the tools of accountability like gender budgeting, the climate responsive budgeting and the strategies for financial inclusion.

Suggested Citation

  • Chakraborty, Lekha, 2020. "Macroeconomic Policy Coherence for SDG 2030: Evidence from Asia Pacific," Working Papers 20/292, National Institute of Public Finance and Policy.
    • Handle: RePEc:npf:wpaper:20/292
    Note: Working Paper 292, 2020
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    References listed on IDEAS

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    Cited by:

    1. Tandon, Suranjali, 2020. "Is the tax system neutral in India: An analysis of tax treatment of select funds," Working Papers 20/294, National Institute of Public Finance and Policy.

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