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OECD Economic Survey of Japan 2015 OECD's just-released Economic Survey of Japan 2015 focuses on four challenges facing Japan: the need to boost economic growth through bold structural reforms; the need to reduce government debt; the need to promote social cohesion by reducing income inequality; and the need to end deflation definitively. At a recent seminar held at ADBI and moderated by ADBI Dean Naoyuki Yoshino, the OECD's Head of Japan/Korea Desk Randall Jones, analyzed the structural barriers to innovation and entry of new firms that limit dynamism and the growth potential of small firms. Read more.

The Impact of Public Investment in Infrastructure

The Impact of Public Investment in Infrastructure What is the macro- and microeconomic impact of infrastructure investments? Looking at Japan and the Philippines, ADBI Dean Naoyuki Yoshino and Research Fellow Victor Pontines presented recent case study findings at the Sixth IMF–Japan High-Level Tax Conference for Asian Countries in Tokyo on 7–9 April. They noted that the direct effect of public capital spending in Japan is positive but macroeconomic impact falls over time. In addition, they reported that through their study of a highway infrastructure project in the Philippines, it was found that the project had a significant and strong effect on boosting tax revenue on business income and property in the surrounding region. Read more.

Currency Turbulence and Banking Crises

Currency Turbulence and Banking Crises Free floating exchange rates are no less crisis prone than other exchange rate regimes, stressed Robert Aliber, professor of international economics and finance emeritus at the Booth School of Business, University of Chicago, at an ADBI seminar on 13 April. He argued that in a free floating regime, shocks often resulted in prolonged cross-border investment inflows, followed by sustained current account deficits, asset price booms, and subsequent banking crises. According to Professor Aliber, free floats often lead to larger currency misalignments and a deterioration of GDP growth. Read more.

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ADBI Monthly Reports
Reports of recent and forthcoming ADBI activities, press mentions, and staff news can be found here. Recent reports are listed below.

Updated 23 April 2015
© 2015 Asian Development Bank Institute.