Institutions for Asian Connectivity

Journal of International Commerce, Economics and Policy (JICEP), World Scientific, 2010

Posted: 22 Aug 2011

See all articles by Biswa N. Bhattacharyay

Biswa N. Bhattacharyay

Asian Development Bank Institute; Asian Development Bank; CESifo (Center for Economic Studies and Ifo Institute)

Date Written: October 1, 2010

Abstract

To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional connectivity. The effectiveness of this connectivity depends on the quality of hard and soft infrastructure. Of particular importance in terms of soft (facilitating) infrastructure that makes hard (physical) infrastructure work are the facilitating institutions that support connectivity through appropriate policies, reforms, systems, procedures, and through promoting effective coordination and cooperation. Asia has many overlapping subregional institutions involved in national and regional energy, transport, and telecommunications infrastructure connectivity. However, these institutions are characterized as being less effective, informal, and lacking a clear and binding system of rules and policies. To build seamless Asian connectivity, Asia needs an effective, formal, and rules-based institutional framework. The paper presents a new institutional framework for Pan-Asian connectivity together with the organizational structures of two new regional institutional mechanisms, namely the Pan-Asian Infrastructure Forum and the Asian Infrastructure Fund.

Keywords: Infrastructure connectivity, regional institutions, Asia, financing infrastructure, governance

Suggested Citation

Bhattacharyay, Biswa Nath., Institutions for Asian Connectivity (October 1, 2010). Journal of International Commerce, Economics and Policy (JICEP), World Scientific, 2010. Available at SSRN: https://ssrn.com/abstract=1913993

Biswa Nath. Bhattacharyay (Contact Author)

Asian Development Bank Institute ( email )

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CESifo (Center for Economic Studies and Ifo Institute)

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