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INSTITUTIONS FOR ASIAN CONNECTIVITY

BISWA NATH BHATTACHARYAY

BISWA NATH BHATTACHARYAY

ADB Institute Tokyo, Japan

ADB, Manila, Philippines

Lead Professional and Adviser to the Dean

Lead Professional

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https://doi.org/10.1142/S1793993310000172Cited by:3 (Source: Crossref)

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.

This is a revised version of a background paper prepared for ADB's Flagship study "Institutions for Regionalism: Enhancing Integration in Asia and the Pacific" and Bhattacharyay (2010a).

Keywords:

JEL: R50, R40, R58, R10

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INSTITUTIONS FOR ASIAN CONNECTIVITY

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