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Financial role in supporting the sustainable development goals in ASEAN

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  • Osangthammanont Anantachoke

    (International Institute for Trade and Development and Fiscal Policy Research Institutes Staff)

Abstract

Financial sector plays a crucial role in helping a country attaining the Sustainable Development Goals (SDGs) as Financial Means of Implementation (MoI) in the Addis Ababa Action Agenda (AAAA). This report seeks to study sources and uses of fund for the SDGs and evaluate whether the role of the financial sector in ASEAN complies with the AAAA. The study shows that available sources of funds and the level of national incomes or the level of a country’s economic development are closely related. Overall, ASEAN gives the highest priority to economic development, creation of innovation and infrastructure investment (SDG 8 and SDG 9), while environmental development and earth conservation appear to receive lower priority (SDG12- SDG15). Furthermore, low-income countries, such as CLMV countries, cannot afford to finance their SDGs initiatives and hence make slow progress in the SDGs. The per-capita SDGs fund, a proxy for quality of investment in sustainable development, is also differed by the level of country’s incomes. The report also proposes a set of policy recommendations for the development of the financial sector’s role in the SDGs as well as possible innovative financing for development.

Suggested Citation

  • Osangthammanont Anantachoke, 2018. "Financial role in supporting the sustainable development goals in ASEAN," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 8(2), pages 95-114.
    • Handle: RePEc:bjw:econen:v:8:y:2018:i:2:p:95-114
    DOI: 10.46223/HCMCOUJS.econ.en.8.2.165.2018
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    References listed on IDEAS

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    1. Suhas Ketkar & Dilip Ratha, 2009. "Innovative Financing for Development," World Bank Publications - Books, The World Bank Group, number 6549, December.
    2. Mark McGillivray, 2003. "Aid Effectiveness and Selectivity: Integrating Multiple Objectives into Aid Allocations," WIDER Working Paper Series DP2003-71, World Institute for Development Economic Research (UNU-WIDER).
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