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ASEAN’s real gross domestic product (GDP) had declined sharply
due to the COVID-19 pandemic. The economic downturn and the
uncertainty about the future reduced the new investments in green
projects drastically. Besides this, many governments rolled back
environmental regulations and taxes and increased fossil-fuel
intensive infrastructure and electricity to stimulate economic
growth. Post-Pandemic Green Recovery in ASEAN consists of several
empirical studies using fresh data, with regional and country-level
perspectives on ways to keep the greenness of the economic recovery
plans. The chapters look at various aspects and sectors, including
tourism, infrastructure, energy, small and medium enterprises
(SMEs), employment, and livelihood, by assessing the effectiveness
of various tools and instruments, including green finance, carbon
taxation, green Sukuk, credit guarantee, cash transfer payment,
power purchase agreements, and the related policies. They also
provide practical policy recommendations useful for the ASEAN
member states and other developing regions for the green recovery
in the post-pandemic. Reiterating the importance of green and
low-carbon mechanisms and climate change tackling policies besides
the usual economic recovery strategies, this book is a precious
resource for the researchers of economics, finance, ASEAN and Asian
studies, and policymakers.
A robust and efficient tax administration in a modern tax system
requires effective tax policies and legislation. Policy frameworks
should cover all aspects of tax administration and include the
essential processes of capturing, processing, analyzing, and
responding to information provided by taxpayers and others
concerning taxpayers' affairs. By far the greatest challenges
facing tax administrations in all countries are those posed by the
continuing developments in the digital economy. Whereas societies
are grappling to come to terms with the transitions from the third
industrial or digital revolutions, revenue authorities grapple with
the consequences for the sustainability of their tax bases and the
efficient administration and collection of taxes. This book
presents a critical review of the status of tax systems in Asia and
the Pacific in the era of the digital economy. The book suggests
how countries can maximize their domestic resource mobilization
when confronted by the challenges that digitalization inevitably
produces, as well as how they can best harness or take advantage of
aspects of digitalization to serve their own needs. The full
implications of the COVID-19 crisis are still too uncertain to
predict, but it is clear that the crisis will accelerate the trend
towards digitalization and also increase pressures on public
finances. This, in turn, may shape the preference for, and the
nature of, both multilateral and unilateral responses to the tax
challenges posed by digitalization and the need to address them.
This book will be a timely reference for those researching on
taxation in digital economy and for policy makers. The Open Access
version of this book, available at www .taylorfrancis .com, has
been made available under a Creative Commons
Attribution-Non-Commercial-No Derivatives 4.0 license.
There is limited access for small and medium-sized enterprises
(SMEs) to bank credit. This book proposes new and sustainable
models to help ease the access of SMEs to finance and boost
economic growth and job creation in Asia. This book looks at the
difficulties of SMEs in accessing finance and suggests ways on how
to mitigate these challenges. It suggests how we can develop credit
information infrastructures for SMEs to remedy the asymmetric
information problem and to utilize credit rating techniques for the
development of a sustainable credit guarantee scheme. The book
provides illustrations of various Asian economies that implemented
credit guarantee schemes and credit risk databases and is a useful
reference for lessons and policy recommendations.
The rapid and sustained economic growth of the past two decades has
led to marked increases in energy demand in the region and
developing Asia will continue to lead the energy demand growth. The
increase in energy demand threatens energy security and efforts to
curb carbon dioxide emissions, affecting health and social
well-being. These common energy challenges will need to be
addressed through concerted efforts. This book provides several
multi-dimensional quantitative analysis of the relationship between
energy and other subjects including but not limited to income and
economic growth, environment and health, food and agricultural
production. The book also provides the most constructive policy
recommendations concerning the relationship between energy,
economic development, social development, and environmental
development.
Innovative businesses and startups contribute to job creation,
economic growth, and technological advancement in most countries.
Finance helps nurture innovative firms like startups.
Unfortunately, most startups and innovative projects cannot secure
finance through the usual and conventional methods. This book goes
beyond traditional financing to explore innovative ways to help
finance startups and novel businesses. The book covers
institutional innovation, innovation in products and processes, and
the recent progress in financial innovations in various countries
through empirical and case studies. It gives an in-depth look at
regulatory, policy frameworks, and risk assessments for financial
innovations. It also assesses the role of various innovations,
including Fintech, machine learning, big data, scoring models,
credit databases, digital platforms, credit guarantees in funding
startups, and novel technologies. This book offers valuable
insights into how policymakers can nurture a more conducive
ecosystem for startups and technologies through innovative finance.
The rapid and sustained economic growth of the past two decades has
led to marked increases in energy demand in the region and
developing Asia will continue to lead the energy demand growth. The
increase in energy demand threatens energy security and efforts to
curb carbon dioxide emissions, affecting health and social
well-being. These common energy challenges will need to be
addressed through concerted efforts. This book provides several
multi-dimensional quantitative analysis of the relationship between
energy and other subjects including but not limited to income and
economic growth, environment and health, food and agricultural
production. The book also provides the most constructive policy
recommendations concerning the relationship between energy,
economic development, social development, and environmental
development.
There is limited access for small and medium-sized enterprises
(SMEs) to bank credit. This book proposes new and sustainable
models to help ease the access of SMEs to finance and boost
economic growth and job creation in Asia. This book looks at the
difficulties of SMEs in accessing finance and suggests ways on how
to mitigate these challenges. It suggests how we can develop credit
information infrastructures for SMEs to remedy the asymmetric
information problem and to utilize credit rating techniques for the
development of a sustainable credit guarantee scheme. The book
provides illustrations of various Asian economies that implemented
credit guarantee schemes and credit risk databases and is a useful
reference for lessons and policy recommendations.
This book aims to fill the literature gap on digital instruments
and FinTech in enhancing green finance. ​Technological
innovation can increase transparency, accountability, and speed,
decentralize the financial system, improve risk management,
increase competition, lower costs, improve efficiency, increase
cross-sectoral collaboration and integration, and scale up green
finance. Artificial intelligence (AI), distributed ledger
technologies (DLT) or blockchain, peer-to-peer lending platforms,
big data,  Internet-based and mobile-based payment
platforms, Internet of Things (IoT), matchmaking platforms
including crowdlending, tokenizing green assets are potential means
to scale up the green finance for achieving the SDGs. Â The
COVID-19 pandemic, the economic downturns, and the uncertainties
shrank the new investments in renewable energy projects globally.
Low investment in renewable energy projects could threaten the
expansion of green energy needed to provide energy security and
meet SDG7 and SDG13. Investments in renewable energy projects are
scarce because of several risks and a low rate of return. Although
several new green financing solutions such as green bonds, green
banks, green credit guarantee, carbon taxation, carbon trade,
village funds, and community trust funds have been established in
different countries, these are insufficient, and alternative ways
to finance projects are required. The book provides several
high-quality studies on utilizing digitalization, FinTech,
financial innovations, and other new technologies to fill the
finance gap of green projects to meet the SDG goals. The chapters
are written by scholars in diverse countries and regions and
include practical policy recommendations.
This book provides several up-to-date empirical policy-oriented
studies on assessing the impacts of climate change on various
economic sectors and the role of renewable energy resources in
mitigating pollution and climate change. It suggests various policy
recommendations on how to increase the share of renewable energy
resources in the energy baskets of the members of the Association
of Southeast Asian Nations (ASEAN) and the rest of the world to
ensure energy sustainability. As of 2020, most of the world's
energy investment still went to carbon-emitting sources, namely,
fossil fuels. On the other hand, the Covid-19 pandemic and the
economic Project Overview 20 March 2021 08:39 Page 6 of 9 downturns
shrank the global energy demand, including fossil fuels, resulting
in a sharp drop in their prices. Low fossil fuel prices are harmful
to developing renewable energy projects, making solar, wind, and
other renewable energy resources less competitive as sources of
electricity. This is endangering the Paris agreement and the
"Climate Action" goal of the United Nations. Given the high share
of fossil fuels in the energy mix of the members of ASEAN,
tremendous challenges must be faced for their energy transition in
the post-Covid-19 world. The authors call for sound policy and
applicable technologies to ensure sustainable energy availability,
accessibility, and affordability to reach emission reduction
targets.
This book provides practical policy recommendations that are useful
for developing Asia and for accelerating poverty reduction plans in
the rest of the world. Poverty reduction in all its forms remains
one of the greatest challenges facing humanity. In developing Asia,
rapid growth in countries and sub-regions such as China, India, and
Southeast Asia has lifted millions out of poverty, but progress has
been uneven. On the other hand, the current coronavirus (COVID-19)
pandemic and the global economic recession that it has caused are
pushing millions of people back into poverty. Poverty reduction,
inclusive growth, and sustainable development are inseparable, and
poverty reduction is the premise for sustainable development. The
Sustainable Development Goals (SDGs) are a bold commitment to
finish what we started and end poverty in all forms and dimensions
by 2030. However, because of the current global recession, the
world is not on track to end poverty by 2030. Given the
aforementioned situation, if we plan to achieve the no-poverty
target in line with the SDGs, governments need to reconsider their
policies and economies need to allocate their resources for this
aim. Owing to the importance of the topic, this book provides
several thematic and empirical studies on the roles of small and
medium-sized enterprises, local businesses and trusts,
international remittances and microfinance, energy security and
energy efficiency in poverty reduction, and inclusive growth.
This book analyzes state-owned enterprises (SOEs), which are still
significant players in many Asian economies. They provide essential
public services, build and operate key infrastructure, and are
often reservoirs of public employment. Their characteristics and
inherent competitive advantages as publicly owned enterprises allow
them to play these critical roles. Their weaknesses in governance
and inefficiencies in incentive structures, however, also often
lead to poor performance. SOEs must be efficient, transparent, and
accountable to level the playing field for private companies,
secure the growth of a vibrant private sector, and achieve
sustained and inclusive economic growth. This book analyzes the
reform of SOEs in Asia, the results of which are mixed. The volume
concludes that some key conditions generally need to be met for SOE
reforms to be successful: national bureaucracies must have the
capacity to implement the reforms, and adverse impacts on
international trade and investment must be avoided.
This book is devoted to investigating the policy design and
effectiveness of financial and market-based instruments to promote
energy efficiency financing. The concept of this monograph is to
present the latest results related to energy efficiency funding
schemes, energy efficiency obligations, voluntary agreements,
auction mechanisms, and Super Energy Services Companies (Super
ESCOs) in major jurisdictions across the world. The book focuses on
financial and market-based instruments as they deliver a price
signal, which provides an incentive for firms to invest in
innovation or implement more energy-efficient technologies and
deliver energy savings while minimizing costs. Such instruments can
have significant advantages for the government, supporting the
fiscal sustainability of the government's energy efficiency
efforts, requiring less enforcement than regulation and according
the market flexibility to select the most cost-efficient
technologies. This book is highly recommended to researchers,
policy experts, and business specialists who seek an in-depth and
up-to-date integrated overview of energy efficiency financing.
This book provides several up-to-date empirical policy-oriented
studies on assessing the impacts of climate change on various
economic sectors and the role of renewable energy resources in
mitigating pollution and climate change. It suggests various policy
recommendations on how to increase the share of renewable energy
resources in the energy baskets of the members of the Association
of Southeast Asian Nations (ASEAN) and the rest of the world to
ensure energy sustainability. As of 2020, most of the world's
energy investment still went to carbon-emitting sources, namely,
fossil fuels. On the other hand, the Covid-19 pandemic and the
economic Project Overview 20 March 2021 08:39 Page 6 of 9 downturns
shrank the global energy demand, including fossil fuels, resulting
in a sharp drop in their prices. Low fossil fuel prices are harmful
to developing renewable energy projects, making solar, wind, and
other renewable energy resources less competitive as sources of
electricity. This is endangering the Paris agreement and the
"Climate Action" goal of the United Nations. Given the high share
of fossil fuels in the energy mix of the members of ASEAN,
tremendous challenges must be faced for their energy transition in
the post-Covid-19 world. The authors call for sound policy and
applicable technologies to ensure sustainable energy availability,
accessibility, and affordability to reach emission reduction
targets.
This book analyzes state-owned enterprises (SOEs), which are still
significant players in many Asian economies. They provide essential
public services, build and operate key infrastructure, and are
often reservoirs of public employment. Their characteristics and
inherent competitive advantages as publicly owned enterprises allow
them to play these critical roles. Their weaknesses in governance
and inefficiencies in incentive structures, however, also often
lead to poor performance. SOEs must be efficient, transparent, and
accountable to level the playing field for private companies,
secure the growth of a vibrant private sector, and achieve
sustained and inclusive economic growth. This book analyzes the
reform of SOEs in Asia, the results of which are mixed. The volume
concludes that some key conditions generally need to be met for SOE
reforms to be successful: national bureaucracies must have the
capacity to implement the reforms, and adverse impacts on
international trade and investment must be avoided.
This book provides practical policy recommendations that are useful
for developing Asia and for accelerating poverty reduction plans in
the rest of the world. Poverty reduction in all its forms remains
one of the greatest challenges facing humanity. In developing Asia,
rapid growth in countries and sub-regions such as China, India, and
Southeast Asia has lifted millions out of poverty, but progress has
been uneven. On the other hand, the current coronavirus (COVID-19)
pandemic and the global economic recession that it has caused are
pushing millions of people back into poverty. Poverty reduction,
inclusive growth, and sustainable development are inseparable, and
poverty reduction is the premise for sustainable development. The
Sustainable Development Goals (SDGs) are a bold commitment to
finish what we started and end poverty in all forms and dimensions
by 2030. However, because of the current global recession, the
world is not on track to end poverty by 2030. Given the
aforementioned situation, if we plan to achieve the no-poverty
target in line with the SDGs, governments need to reconsider their
policies and economies need to allocate their resources for this
aim. Owing to the importance of the topic, this book provides
several thematic and empirical studies on the roles of small and
medium-sized enterprises, local businesses and trusts,
international remittances and microfinance, energy security and
energy efficiency in poverty reduction, and inclusive growth.
This book discusses Japan's long-term economic recession and
provides remedies for that recession that are useful for other
Asian economies. The book addresses why Japan's economy has
stagnated since the bursting of its economic bubble in the 1990s.
Its empirical analysis challenges the beliefs of some economists,
such as Paul Krugman, that the Japanese economy is caught in a
liquidity trap. This book argues that Japan's economic stagnation
stems from a vertical "investment-saving" (IS) curve rather than a
liquidity trap. The impact of fiscal policy has declined
drastically, and the Japanese economy faces structural problems
rather than a temporary downturn. These structural problems have
many causes: an aging demographic (a problem that is frequently
overlooked), an over-reliance by local governments on transfers
from the central government, and Basel capital requirements that
have made Japanese banks reluctant to lend money to start-up
businesses and small and medium-sized enterprises. This latter
issue has discouraged Japanese innovation and technological
progress. All these issues are addressed empirically and
theoretically, and several remedies for Japan's long-lasting
recession are provided. This volume will be of interest to
researchers and policy makers not only in Japan but also the
People's Republic of China, many countries in the eurozone, and the
United States, which may face similar challenges in the future.
While oil price fluctuations in the past can be explained by pure
supply factors, this book argues that it is monetary policy that
plays a significant role in setting global oil prices. It is a key
factor often neglected in much of the earlier literature on the
determinants of asset prices, including oil prices. However, this
book presents a framework for modeling oil prices while
incorporating monetary policy. It also provides a complete
theoretical basis of the determinants of crude oil prices and the
transmission channels of oil shocks to the economy. Moreover, using
several up-to-date surveys and examples from the real world, this
book gives insight into the empirical side of energy economics. The
empirical studies offer explanations for the impact of monetary
policy on crude oil prices in different periods including during
the subprime mortgage crisis of 2008-2009, the impact of oil price
variations on developed and emerging economies, the effectiveness
of monetary policy in the Japanese economy incorporating energy
prices, and the macroeconomic impacts of oil price movements in
trade-linked cases. This must-know information on energy economics
is presented in a reader-friendly format without being overloaded
with excessive and complicated calculations. enUsed="false"
QFormat="true" Name="Subtle Emphasis"/>
This book discusses Japan’s long-term economic recession and
provides remedies for that recession that are useful for other
Asian economies. The book addresses why Japan’s economy has
stagnated since the bursting of its economic bubble in the 1990s.
Its empirical analysis challenges the beliefs of some economists,
such as Paul Krugman, that the Japanese economy is caught in a
liquidity trap. This book argues that Japan’s economic stagnation
stems from a vertical “investment–saving” (IS) curve rather
than a liquidity trap. The impact of fiscal policy has declined
drastically, and the Japanese economy faces structural problems
rather than a temporary downturn. These structural problems have
many causes: an aging demographic (a problem that is frequently
overlooked), an over-reliance by local governments on transfers
from the central government, and Basel capital requirements that
have made Japanese banks reluctant to lend money to start-up
businesses and small and medium-sized enterprises. This latter
issue has discouraged Japanese innovation and technological
progress. All these issues are addressed empirically and
theoretically, and several remedies for Japan’s long-lasting
recession are provided. This volume will be of interest to
researchers and policy makers not only in Japan but also the
People’s Republic of China, many countries in the eurozone, and
the United States, which may face similar challenges in the future.
While oil price fluctuations in the past can be explained by pure
supply factors, this book argues that it is monetary policy that
plays a significant role in setting global oil prices. It is a key
factor often neglected in much of the earlier literature on the
determinants of asset prices, including oil prices. However, this
book presents a framework for modeling oil prices while
incorporating monetary policy. It also provides a complete
theoretical basis of the determinants of crude oil prices and the
transmission channels of oil shocks to the economy. Moreover, using
several up-to-date surveys and examples from the real world, this
book gives insight into the empirical side of energy economics. The
empirical studies offer explanations for the impact of monetary
policy on crude oil prices in different periods including during
the subprime mortgage crisis of 2008-2009, the impact of oil price
variations on developed and emerging economies, the effectiveness
of monetary policy in the Japanese economy incorporating energy
prices, and the macroeconomic impacts of oil price movements in
trade-linked cases. This must-know information on energy economics
is presented in a reader-friendly format without being overloaded
with excessive and complicated calculations. enUsed="false"
QFormat="true" Name="Subtle Emphasis"/>
This book is devoted to investigating the policy design and
effectiveness of financial and market-based instruments to promote
energy efficiency financing. The concept of this monograph is to
present the latest results related to energy efficiency funding
schemes, energy efficiency obligations, voluntary agreements,
auction mechanisms, and Super Energy Services Companies (Super
ESCOs) in major jurisdictions across the world. The book focuses on
financial and market-based instruments as they deliver a price
signal, which provides an incentive for firms to invest in
innovation or implement more energy-efficient technologies and
deliver energy savings while minimizing costs. Such instruments can
have significant advantages for the government, supporting the
fiscal sustainability of the government's energy efficiency
efforts, requiring less enforcement than regulation and according
the market flexibility to select the most cost-efficient
technologies. This book is highly recommended to researchers,
policy experts, and business specialists who seek an in-depth and
up-to-date integrated overview of energy efficiency financing.
This book combines the fundamentals of industrial organization
theories based on microeconomic foundations, applied econometrics
and environmental and natural resource economics in undertaking a
comprehensive review of reforms of the power sector and its impact
on industrial and socio-economic performance. The book provides the
reader with the intellectual groundwork necessary for understanding
the workings and interactions of today's reforming power markets
such as in the ASEAN and East Asia that are striving to achieve the
energy policy trilemma of affordability, energy sustainability and
energy security. The topics addressed in this book include
application of welfare theorems such as competition in and for the
market in the electricity sector, market failures such as lack of
electricity access, analysis of forecasting models under
volatility, energy resource allocation such as renewable energy and
competitive market designs of energy markets. Country-specific and
region-specific case studies are used to analyze the progress and
outcomes of market-driven electricity reforms across the reforming
and advanced electricity markets. Therefore, the book derives
policy lessons and provides policy recommendations in reforming
power markets for the ASEAN and East Asia taking stock of more than
three decades of global experience with power sector reforms. The
electricity markets case studies are carefully chosen and supported
by extensive data analyses as appropriate. This book on energy
economics and policy is highly recommended to readers who seek an
in-depth and up-to-date integrated overview about the evolving
literature and status on electricity market reforms with a
particular reference to Asia.
This book aims to fill the literature gap on digital instruments
and FinTech in enhancing green finance. Technological innovation
can increase transparency, accountability, and speed, decentralize
the financial system, improve risk management, increase
competition, lower costs, improve efficiency, increase
cross-sectoral collaboration and integration, and scale up green
finance. Artificial intelligence (AI), distributed ledger
technologies (DLT) or blockchain, peer-to-peer lending platforms,
big data, Internet-based and mobile-based payment platforms,
Internet of Things (IoT), matchmaking platforms including
crowdlending, tokenizing green assets are potential means to scale
up the green finance for achieving the SDGs. The COVID-19 pandemic,
the economic downturns, and the uncertainties shrank the new
investments in renewable energy projects globally. Low investment
in renewable energy projects could threaten the expansion of green
energy needed to provide energy security and meet SDG7 and SDG13.
Investments in renewable energy projects are scarce because of
several risks and a low rate of return. Although several new green
financing solutions such as green bonds, green banks, green credit
guarantee, carbon taxation, carbon trade, village funds, and
community trust funds have been established in different countries,
these are insufficient, and alternative ways to finance projects
are required. The book provides several high-quality studies on
utilizing digitalization, FinTech, financial innovations, and other
new technologies to fill the finance gap of green projects to meet
the SDG goals. The chapters are written by scholars in diverse
countries and regions and include practical policy recommendations.
The electricity sector's reforms aim to modernise its
infrastructure, rules, policies, and procedures to allow for more
efficiency and for clean energy to have the same playing field in
the power competition/wholesale/retail electricity market. This
will enable inefficient power to be phased out gradually. Over the
past 2 decades, there has been remarkable progress in the
Association of Southeast Asian Nations (ASEAN) electricity markets
that has increased the electrification ratio substantially;
however, it has not achieved free market competition, universal
electrification, and emission reduction plans. ASEAN aims to
achieve universal access to electricity by 2030.Electricity Market
Reforms in ASEAN, China, India, and Japan provides 10 empirical
studies investigating and evaluating the electricity market reforms
in Southeast Asia, China, India, and Japan. The book analyses the
electricity market policy reform plans, market liberalisation,
tariff reform, electricity trade, renewable energy integration,
resource allocation, and the sustainability of the electricity
market in the region and these countries. It provides policy
recommendations to foster the reforms and increase market
efficiency.
Successful startups and small businesses can play a significant
role in economic growth and job creation. They also contribute to
economic dynamism by spurring innovation and injecting competition.
Startups are known to introduce new products and services that can
create new value in the economy. It is notable that most startups
exit within their first ten years, and most surviving young
businesses do not grow but remain small. Startups and small
businesses face several obstacles to their development. Accessing
capital is a crucial constraint on their growth. Most startups and
small businesses have difficulties getting the funds they need
because of their lack of a performance track record and lack of
collateral, making it difficult for lenders or investors to assess
their risk. Besides, they are in the early stages of development
and face a very high possibility of failure, which significantly
raises financing and investment risk.Investment in Startups and
Small Business Financing provides 12 thematic and case studies on
new methods for bringing private investment (loans or equity) to
startups and easing small businesses' access to finance (debt and
capital). The contributors are senior-level policy experts and
researchers from governments, think tanks, academia, and
international organizations. The chapters are authored in a
policy-oriented way to be understandable for the readers with a
different background. This book is a precious source for the
governments for adopting the right policies to develop small
businesses and startups and valuable for the researchers in
economics, business, and finance.
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