An Invitation to the ADB-GDF Joint Seminar on

FINANCING ASIA’S FUTURE GROWTHThe Theme Chapter of Asian Development Outlook 2015

By Donghyun Park
Principal Economist, Asian Development Bank
The lead author of the theme chapter of the Asian Development Outlook (ADO) 2015 will present its mainfindings and policy messages. ADO is the annual flagship report of the Asian Development Bank.
DATE & TIME: 16:30-18:00, Friday, May 15, 2015
VENUE:

National Graduate Institute for Policy Studies (GRIPS), Lecture Room L (5th floor)
7-22-1 Roppongi, Minato-ku, Tokyo, JapanLANGUAGE:

EnglishPROGRAM:

16:00Registration

16:30

Opening

16:30

Presentation by Dr. Donghyun Park, Principal Economist, ADB

17:30

Discussion

18:00

Closing

Against the backdrop of Asia’s growth slowdown since the global financial crisis, this theme chapter
explores the role of a sound and efficient financial system in sustaining the region’s future growth. An
efficient financial sector is needed for developing Asia to maintain growth into the future. As countries
develop, the ability to enhance productivity through the adoption of existing technologies and reallocationof resources across sectors becomes harder. To support growth, the region’s financial sector will thus
have to develop further to help increase both investment and productivity.
Yet as the global financial crisis made painfully clear, financial instability can undermine growth, evenundercutting an economy’s long-term potential. Thus, developing Asian countries must strengthen
financial stability, for example through better regulation, so that the financial sector does not in itself
become a source of growth-harming volatility. Moreover, in light of rising inequality in Asia, the financesector must become an agent of greater inclusion. To make growth more inclusive, the region’s policy
makers will be challenged to find ways to extend access to finance to the poor and to small and medium
enterprises.
Dr. Donghyun PARK is currently Principal Economist at the Economic Research andRegional Cooperation Department (ERCD) of the Asian Development Bank (ADB),
which he joined in April 2007. Prior to joining ADB, he was a tenured Associate Professorof Economics at Nanyang Technological University in Singapore. Dr. Park has a Ph.D.
in economics from UCLA, and his main research fields are international finance,international trade, and development economics. His research, which has been
published extensively in journals and books, revolves around policy-oriented topics relevant for Asia’s longterm development, including the middle-income trap, service sector development, and financial sector
development. Dr. Park plays a leading role in the production of Asian Development Outlook, ADB’s flagshipannual publication.

Asian Development Outlook 2015
Popularly known as the ADO, this is a series of annual economic reports on the developing
member countries (DMCs) of the Asian Development Bank. ADO 2015 was published onMarch 24, 2015. It predicts that India’s growth will be faster than China’s in coming years.
The theme chapter of ADO 2015 explores the role of developing Asia's financial system insustaining its growth, while also examining ways to make the system more inclusive andstable.
http://www.adb.org/publications/asian-development-outlook-2015-financing-asias-future-growthInequality, Inclusive Growth, and Fiscal Policy in Asia, edited by Donghyun Park, Sang-Hyop Lee &Minsoo Lee, Routledge, 2015 (forthcoming)
This book, lead-edited by the seminar speaker, was produced in response to an issue ofgrowing demand for development funds in most Asian countries, and it comes at a time
when Asian governments are also beginning to use fiscal policy to bridge the glaring
disparities between the rich and the poor of the region. It is the fourth volume in the
Routledge-GRIPS Development Forum Studies Series and will be available in May 2015.
http://www.amazon.co.uk/Inequality-Inclusive-Routledge-GRIPS-DevelopmentStudies/dp/1138850357

Map：

www.grips.ac.jp/forum-e/access.htm
Registration：Participation is free but pre-registration is requested. Please contact Ms. Yuka Akiyama（秋山裕花） of GRIPS Development Forum by 13 May (Wed), 2015. :y-akiyamai@grips.ac.jp / Tel: 03-6439-6337 / Fax: 03-6439-6010
Registration mail must include your name, title, affiliation and e-mail address.