The way forward for "Washington Consensus" development reforms

Women entrepreneurs make a significant contribution to the Indian economy. However, access to formal finance is a crucial barrier to the growth of women-owned businesses. In this podcast, Renana Jhabvala, the President of SEWA, the Self-Employed Women’s Association, will explain the policy tool that the Indian government has been implementing to formalize women’s economic participation and her experience with SEWA in utilizing bridge institutions to connect women entrepreneurs and formal banking sector. Transcript: adbi.me/3vHsHdB

Almost two million households across Central Asia suffer from energy poverty according to the World Bank. The challenges are to maintain and provide infrastructure in rural parts of the region and explore new energy models for social inclusion and just transition. In this podcast, ADBI Senior Research Fellow Dina Azhgaliyeva, Zhanna Kapsalyamova from Nazarbayev University, and Anna Arkhangelskaya from the Institute of Energy under the Kyrgyz Technical University explain socio-economic disparity that energy-poor households face and discuss policy options to replace inefficient fossil fuel subsidies while minimizing the impact of energy prices on vulnerable households. Script: adbi.me/46zOLU9

By 2050, the global number of persons above 65 years old will double to over 1.5 billion, according to the United Nations, and Asia will continue to have the largest share of the world’s aged population. In this podcast, Waseda University Associate Professor, Upalat Korwatanasakul provides an overview of demographic transition and its effects on fiscal balance in Asia. He also examines ways to enhance fiscal space against pension as well as how fiscal sustainability can be achieved in economies at varying demographic stages. Script: adbi.me/3FTV1LJ

In this episode of Asia’s Developing Future, Keio University professor Sayuri Shirai, a former Bank of Japan Policy Board member and ADBI visiting fellow, explains the role of central banks in promoting green central banking and climate-related monetary policies in developing Asia. She stresses the importance of improving awareness of financial institutions, conducting climate scenario analysis, and implementing standardized climate-related disclosures to draw more direct investment to emerging economies in Asia. Script: adbi.me/3RlxOJa

In this podcast, the Asian Development Bank Institute’s Santi Setiawati spotlights Japan’s innovative sanitation and wastewater management systems and the implementation lessons they offer developing countries in Asia seeking to address coverage gaps within the sector. The discussion is based on the ADBI policy brief The Financial and Institutional Mechanism of the Sanitation and Wastewater Management System: Learning from the Japanese Experience. Transcript: adbi.me/45dhYVm

Economic policy prescriptions for crisis-hit developing countries known as the “Washington Consensus” have boosted prosperity in Asia and beyond but also have been criticized for negatively affecting manufacturing jobs and the labor force in developed countries. In this podcast, Jenny Gordon, Honorary Professor at the Centre for Social Research and Methods at the Australian National University, explains the principles and limitations of the Washington Consensus and how countries can approach them effectively moving forward. Transcript: adbi.me/3Ow6AxQ

Many governments and non-governmental entities are making ambitious pledges to reduce carbon emissions and move toward a global net-zero level by 2050 to fight climate change. Whether these goals can be achieved will depend on implementation work that verifies pledges are legitimate and not simply empty promises known as ‘greenwashing’. In this podcast, Catherine McKenna, Canada’s former Minister of Environment and Climate Change and Chair of the High-level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities, explains what policy makers can do to prevent greenwashing and accelerate carbon emissions reduction in Asia and the Pacific. Transcript: adbi.me/43oEOrZ

The “metaverse” is an emerging concept that could open the door to new service delivery and job creation. But what is the metaverse exactly and how could it affect developing economies in Asia and the Pacific? In this podcast, Beth Ann Lim, director of policy programs and campaigns at Meta Asia Pacific, and Professor Yong Lim at the Seoul National University AI Policy Initiative discuss the metaverse, its economic implications, and policy options to maximize its potential to support inclusive growth in the region. Transcript: adbi.me/3nQIGSz

The realization of carbon net-zero economies in Asia and beyond will depend on the capacity of sectors to adopt decarbonization solutions. In this podcast, Professor Frank Jotzo, Professor Llewelyn Hughes, and Dr Tom Longden from the Australian National University Crawford School of Public Policy discuss hydrogen’s potential to support the global transition to clean energy and the decarbonization of heavy industry sectors such as steel production. They also highlight policies and financing mechanisms that could help. Transcript: adbi.me/3ltgmFk

Fast-growing developing and emerging countries in Asia and beyond are facing the dual challenges of meeting increasing energy demand while tackling carbon emissions to fight climate change. In this podcast, Asian Infrastructure Investment Bank(AIIB) Chief Economist Erik Berglof describes policy tools a state can use to accelerate private sector-backed carbon net zero transition, such as state-owned financial institutions and private-public partnerships. He also explains how these tools can be integrated into national strategies to promote innovation and technology adoption. The discussion draws upon his ADBI Featured Speaker Webinar on state capacity and private sector mobilization toward net zero in emerging economies. Transcript: adbi.me/3RVe65e