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Shifting structure of financial sector in Asia and the Pacific

Author

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  • Sudip Ranjan Basu

    (Macroeconomic Policy and Financing for Development Division, ESCAP)

  • Rui Xu

    (Macroeconomic Policy and Financing for Development Division, ESCAP)

Abstract

The 2030 Agenda for Sustainable Development was adopted by the 193 member States at the United Nations headquarters in September 2015, New York. The new development agenda aims to turn the policy focus of countries to sustain inclusive economic growth, energize investment for social justice, and prioritize efforts towards environmental sustainability. This global development process received additional boost due to the adoption of a new financing for development framework which was adopted at the Third International Conference on Financing for Development in July 2015, Addis Ababa. The financing agenda is comprised of a comprehensive set of policy actions with over a hundred concrete measures that are aligned with outcomes of the sustainable development goals. In this context, the policymakers are encouraged to prioritize structural reform measures and financial sector deepening strategies to mobilize domestic public resources, leverage domestic and international private financing, and explore the potential of international public financing that is expected to create a long-term sustainable financing for productive investment sectors.

Suggested Citation

  • Sudip Ranjan Basu & Rui Xu, 2015. "Shifting structure of financial sector in Asia and the Pacific," MPDD Policy Briefs PB27, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    • Handle: RePEc:unt:pbmpdd:pb27
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