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While more than two-thirds of skilled migrants are directed to the United States, the United Kingdom, Canada, and Australia, they come from more than 100 countries. Skilled emigration opens many indirect general equilibrium questions in the source country. Does skilled emigration matter for volatility in real exchange rates?
Kuznets beyond Kuznets: Structural transformation and income distribution in the era of globalization in Asia
By Saumik Paul. Posted November 12, 2018
Inequality persists and so does the global concern over it. Kuznets’ views about the inverted-U relationship between inequality and development and the subsequent transformation process have been under the lenses of researchers for a long time. Kuznets’ theory proposed the inverted-U relationship through (i) a declining share of agriculture in total output and (ii) migration from the low-income agricultural sector to the high-income industrial sector (Kuznets 1955).
The recent global economic crisis, with its peak in 2008, resulted in a decline in global gross domestic product. It led to unstable financial markets and a lag in private sector demand (World Bank 2010). Its consequences, especially for the labor market, have been most unfortunate. In many countries, workers lost their jobs, wage earnings declined, and work hours shortened (World Bank 2011).
By Nikhil Bugalia. Posted October 25, 2018
The most exciting part of my journey here at the Asian Development Bank Institute is that I get to meet inspiring leaders who have contributed immensely to helping solve the pressing challenges related to sustainable development. This time it was an interaction opportunity with the world-renowned “Mr. Toilet”, i.e., Mr. Jack Sim. If it were not for the efforts of Mr. Toilet and the World Toilet Organization (WTO), the United Nations would not have recognized 19 November as World Toilet Day, an effort by the global agency to mainstream the discussion on wastewater.
By Ognen Stojanovski. Posted October 24, 2018
Rural areas of Asia and Africa where children lack access to high-quality educational opportunities tend to also be energy poor. Solar lanterns and other small solar energy products, commonly termed “picoPVs”, have been promoted as a promising first step toward improving both lighting in homes and educational outcomes. Rural households throughout Asia and Africa have bought over 100 million picoPVs since 2010, with India, Bangladesh, and other South Asian markets being among the most “vibrant” (and receiving significant market development support from governments and development agencies).
The Smart Cities Mission, launched by the Government of India, aims to transform the urban governance ecosystem, especially urban local bodies (ULBs). It is hoped that the mission will help attract innovation, expertise, and financial resources for the holistic development of the ever-expanding urban areas. The creation of sector-focused, region-specific “special purpose vehicles” (SPVs) is an attempt to unleash the potential of a consortium-based approach in delivering the interdisciplinary ideation and implementation of projects.
In October 2018, the world will commemorate the 40th anniversary of the seminal Declaration of Alma-Ata where the aspiration of “health care for all” was boldly declared. The realities have sadly fallen far short of the rhetoric—half the world lacks access to essential health services and 100 million people fall into financial catastrophe due to medical bills.
Economic development and growth entail large-scale structural transformation of economies. Many Asian and African economies are now undergoing such structural transformation—typically from agriculture to manufacturing and service sectors. This transformation inevitably involves reallocation of workers from the primary sector to the manufacturing and service sectors. One of the important questions arising is whether such growth led by structural transformation helps the poor. On the one hand, growth may lift people out of poverty and therefore improve living standards for everyone. On the other hand, growth may increase income inequality by benefiting the rich more than the poor.
The People’s Republic of China (PRC) has reformed and opened up its economy for 4 decades. However, accompanying the country’s fast-growing gross domestic product (GDP) and trade sector, environmental degradation, such as deteriorating water quality, land deforestation, pollution, and frequent haze plagues, has attracted a great deal of attention.
By Shreyas P. Bharule. Posted September 20, 2018
On a typical ride on the Tokaido Shinkansen traveling from Shin-Osaka to Tokyo, it does not take a childlike imagination to notice the view from the bullet train of scattered cars, small houses, and baseball fields, gradually changing as the train approaches its destination to packed apartment buildings and tall office towers. This is an important phenomenon of high-speed rail (HSR) implementation, which can be described by the terms “spillover effect” and “straw effect.”
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