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Institutions for Asian Connectivity

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  • Biswa Nath Bhattacharyay

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 connectivity depends on the quality of hard and soft infrastructure. Of particular importance in terms of soft infrastructure which makes hard infrastructure work are the facilitating institutions that support connectivity through appropriate policies, reforms, systems, and 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. This paper draws linkages between connectivity, growth and development, governance, and institutions. It details the benefits the region could achieve by addressing needed connectivity enhancements and the connectivity and financing challenges it faces. In addition, it presents various institutional options for regional infrastructure financing. To build seamless Asian connectivity, Asia needs an effective, formal, and rules-based institutional framework. The paper presents a new institutional framework together with the organizational structures of two new regional institutional mechanisms, namely the Pan-Asian Infrastructure Forum and the Asian Infrastructure Fund.

Suggested Citation

  • Biswa Nath Bhattacharyay, 2010. "Institutions for Asian Connectivity," Governance Working Papers 21871, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:govern:21871
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    References listed on IDEAS

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    1. John B. Kidd & Frank-Jürgen Richter, 2005. "Infrastructure and Productivity in Asia," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-52356-2, October.
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    4. Biswa Nath Bhattacharyay, 2010. "Institutions For Asian Connectivity," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 1(02), pages 309-335.
    5. Gündüz Atalik & Manfred M. Fischer (ed.), 2002. "Regional Development Reconsidered," Advances in Spatial Science, Springer, number 978-3-642-56194-8.
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    7. Roger Vickerman, 2002. "Restructuring of Transportation Networks," Advances in Spatial Science, in: Gündüz Atalik & Manfred M. Fischer (ed.), Regional Development Reconsidered, chapter 8, pages 148-159, Springer.
    8. Biswa Nath Bhattacharyay, 2010. "Financing Asia’s Infrastructure : Modes of Development and Integration of Asian Financial Markets," Finance Working Papers 21883, East Asian Bureau of Economic Research.
    9. Biswa N Bhattacharyay, 2009. "Restoring the Asian Silk Route: Toward an Integrated Asia," Working Papers id:2165, eSocialSciences.
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    Cited by:

    1. Aalto, Pami, 2014. "Energy market integration and regional institutions in east Asia," Energy Policy, Elsevier, vol. 74(C), pages 91-100.
    2. Biswa Nath Bhattacharyay, 2010. "Institutions For Asian Connectivity," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 1(02), pages 309-335.
    3. Peter J. Rimmer, 2014. "Asian-Pacific Rim Logistics," Books, Edward Elgar Publishing, number 12949.
    4. Angelopulo, George, 2021. "A comparative measure of inclusive urbanisation in the cities of Africa," World Development Perspectives, Elsevier, vol. 22(C).
    5. Francesco Parola & Jasmine Siu Lee Lam, 2018. "An empirical investigation of logistics infrastructure projects in emerging economies," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 20(1), pages 48-71, March.
    6. Libman, Alexander & Vinokurov, Evgeny, 2016. "Региональные Организации: Типы И Логика Развития [Regional Organizations: Typology and Development Paths]," MPRA Paper 79383, University Library of Munich, Germany.
    7. Biswa Nath Bhattacharyay, 2010. "Estimating Demand for Infrastructure in Energy, Transport, Telecommunications, Water and Sanitation in Asia and the Pacific: 2010-2020," Working Papers id:2911, eSocialSciences.
    8. Vaqar, Ahmed & Ghulam, Samad, 2011. "Trade facilitation for economic corridors in South Asia: the perspective of Pakistan," MPRA Paper 31368, University Library of Munich, Germany.
    9. Biswa Bhattacharyay, 2012. "Seamless sustainable transport connectivity in Asia and the Pacific: prospects and challenges," International Economics and Economic Policy, Springer, vol. 9(2), pages 147-189, June.
    10. Biswa N. Bhattacharyay, 2011. "Toward a Sustainable Transport Development in Asia and the Pacific," CESifo Working Paper Series 3539, CESifo.
    11. Biswa Nath Bhattacharyay & Madhurima Bhattacharyay, 2017. "Institutional Architecture for Financing Pan-Asian Infrastructure Connectivity," CESifo Working Paper Series 6422, CESifo.
    12. Biswa Nath Bhattacharyay, 2012. "Estimating demand for infrastructure, 2010–2020," Chapters, in: Biswa Nath Bhattacharyay & Masahiro Kawai & Rajat M. Nag (ed.), Infrastructure for Asian Connectivity, chapter 2, pages 19-79, Edward Elgar Publishing.
    13. Chin, Gregory, 2012. "Responding to the Global Financial Crisis: The Evolution of Asian Regionalism and Economic Globalization," ADBI Working Papers 343, Asian Development Bank Institute.

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    More about this item

    Keywords

    connectivity; Infrastructure; Institution; linkages; Pan-Asian Infrastructure Forum; Asian Infrastructure Fund;
    All these keywords.

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
    • R50 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - General
    • R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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