Fortnightly Progress Report 28 May-8 June 2012

I. HIGHLIGHTS

• ADBI and EU Roundtable Seminar: EU Responses to the European Sovereign Debt Crisis was held at ADBI on 4 June. Dean Kawai delivered the welcome and closing remarks.

• Seminar on Changing Myanmar: Challenges and Opportunities, jointly organized by ADBI and the Japan Chamber of Commerce and Industry was held at ADBI on 5 June. Dean Kawai moderated the seminar.

• Supporting Equitable Economic Development in ASEAN: Experts Meeting of the thematic area “Agricultural Productivity and Natural Resources Management”, jointly organized by ADB (Research and Capacity Building and Training departments), ADBI, and ASEAN was held at ADBI, 5-6 June. Dean Kawai delivered the welcome remarks. Giovanni Capannelli, Special Adviser to the Dean presented the CLMV Project background, aim and expected outcome and delivered the concluding remarks.

• All ADBI staff received intensive training in the new ADBI results framework on 29–31 May.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN MASAHIRO KAWAI

• Dean Kawai gave a lecture on Asia’s Challenges: Post-Financial Crisis at a Seminar on Economic Policies 2012 organized by Policy Research Institute, Japan Ministry of Finance on 28 May.

B. DEPUTY DEAN JAE-HA PARK

• Deputy Dean Park coordinated an IED mission to ADBI on Friday 8 June. • Deputy Dean Park coordinated the results-based framework training 29–31 May..

C. RESEARCH

• Distinguished Speaker Seminar: Kent E. Calder – The New Continentalism: Energy and Twenty-First Century Eurasian Geopolitics was held at ADBI on 31 May.

• Seminar by Alejandro Jara – What Next for Doha and WTO? was held at ADBI on 6 June.

• Research Fellow Gloria Pasadilla gave a presentation on Financial services in Asian regional trade agreements on a meeting of the APEC, organized by PECC in Kazan, Russia, 24-29 May

• Senior Consultant for Research Peter Morgan gave a presentation on Insurance issues within in a broad social, economic, and Asian context on the ICFR High Level Insurance Roundtable in Hong Kong, 28-30 May

D. CAPACITY BUILDING AND TRAINING (CBT)

• CBT Director, Yuqing Xing met with theJapan Fair Trade Commission for cooperation on training in competition policies.

E. JOINT RESEARCH AND CAPACITY BUILDING AND TRAINING (CBT)

• ADBI-IDE Dialogue on Recent Socio-Economic Trends in CLMV countries, jointly organized by ADBI (Research and CBT departments) and IDE was held at IDE on 7 June. Ganeshan Wignaraja, Director of Research spoke on East and South Asian Integration and Myanmar’s role. Giovanni Capannelli, Special Adviser to the Dean delivered the closing remarks.

F. OUTREACH

• Dean Kawai was interviewed by Thomson Reuters reporter and was quoted on the News Week Japan on 4 June 2012.(article in Japanese)

• Dean Kawai was interviewed by Nikkei QUICK reporter and quoted on Nikkei QUICK News on 8 June 2012. (article in Japanese)

• On 29 May, CBT Director, Yuqing Xing was interviewed by Xinhua News on Yen-Yuan direct trading. The interview was reported by Xinhua News “Yen-Yuan Direct Trading is a win-win game for China and Japan.” On 30 May, CBT Director, Yuqing Xing was interviewed by Xinhua TV on Yen-Yuan direct trading. The interview was aired on CNC world on 1 June.

• Dean Kawai, Deputy Dean Park, Research Director Ganesh Wignaraja, and Senior Communications Specialist Alastair Dingwall participated in a meeting of the ADB Publications Committee on Friday 8 June.

• Two working papers were uploaded to the ADBI website: Engaging Small and Medium Enterprises in Production Networks: Firm-level Analysis of Five ASEAN Economies by Ganeshan Wignaraja and Growth of Asian Pension Assets: Implications for Financial and Capital Markets By Yuwei Hu

• The following news media carried stories on ADBI events.

http://news.xinhuanet.com/english/china/2012-06/02/c_131627370.htm (Xinhua News Agency: Dr. Xing’s comment) http://www.islandsbusiness.com/news/index_dynamic/containerNameToReplace=Middle

Middle/focusModuleID=130/focusContentID=28758/tableName=mediaRelease/overideSkinName=newsArticle-full.tpl(Islands Business: Dean’s Comment about the 2012 Developing Asia Journalism Awards)

http://www.cncworld.tv/news/v_show/24850_RMB-YEN_1ST_trading_day_.shtml (CNC World: Dr. Xing’s Interview) http://jp.reuters.com/article/vcJPboj/idJPTYE85305A20120604 (Reuters: Dean’s comment in Japanese) http://www.japantimes.co.jp/text/nb20120607a6.html (Japan Times: ADBI-JCCI Myanmar Seminar) http://www.oup.com/us/catalog/general/subject/Politics/InternationalStudies/InternationalPoliticalEconomy/?view=usa&sf=toc&ci=9780195378047 (The Dean and Dr. Wignaraja have contributed the articles to this publication) http://www.cncworld.tv/news/v_show/24850_RMB-YEN_1ST_trading_day_.shtml (CNC WORLD: Dr. Xing’s comment) http://www.shanghaidaily.com/article/article_xinhua.asp?id=74687 (Shanghai Daily: Dr. Xing’s comment) http://www.chinadaily.com.cn/xinhua/2012-06-02/content_6079054.html (China Daily: Dr. Xing’s comment) http://www.philstar.com/Article.aspx?articleId=813607&publicationSubCategoryId=200 (philSTAR.com: Dr. Xing’s comment) http://www.whatsonxiamen.com/news25521.html¥ (What's on Xiamen: Dr. Xing’s comment) http://www.apec.org.au/docs//Singapore/SC%20Reading%20guide.pdf (The Australian APEC Study Centre at RMIT University in Australia: ADBI Publications on the book list for their courses) http://www.newsweekjapan.jp/headlines/business/2012/06/74443.php (The Newsweek: Dean’s comment in Japanese ) http://www.asahi.com/business/news/reuters/RTR201206040106.html (Asahi Shimbun: Dean’s comment in Japanese) http://investing.businessweek.com/research/markets/news/article.asp?docKey=600-201206050838M2______EUPR_____2b2b000001f2e5cb_3600-1&params=timestamp%7C%7C06/05/2012%208:38%20AM%20ET%7C%7Cheadline%7C%7CADB%20Institute%20Opens%20Developing%20Asia%20Journalism%20Awards%20Competition%7C%7CdocSource%7C%7CM2%20Communications%7C%7Cprovider%7C%7CACQUIREMEDIA#undefined (Bloomberg Business week: ADB Institute Opens Developing Asia Journalism Awards Competition) http://www.thejakartaglobe.com/opinion/rio-20-an-opportunity-for-asean-to-stand-up-and-play-a-major-role-in-shaping-earths-future/522683#Scene_1 .

G. OTHER

• Research Fellow Victor Pontines joined ADBI on 28 May. Before joining ADBI, he was seconded by Bank Negara Malaysia as Senior Economist for The South East

Asian Central Banks (SEACEN) Research and Training Centre in Kuala Lumpur, Malaysia.

• Administration, Management and Coordination Director T. Kihara gave a lecture to more than 400 students at Dokkyo University, Japan, on 6 June 2012, on the subject of ADB, ADBI and Effective Development Aid.

Forthcoming Events • Dean Kawai will participate in the World Bank’s Knowledge Advisory Commission

held in Washington DC on June 12, 2012. • Dean Kawai will participate in ADB-EI IPAG(International Policy Advisory Group)

meeting in New York on June 13, 2012. • Dean Kawai will participate in a Tokyo Seminar on “Issues and Solutions for the

Bottom Billion” of the Sasakawa Peace Foundation Globalization and Disparity in the Developing World Program held in Tokyo on June 15, 2012.

• Director of Research Ganeshan Wignaraja will give a review lecture as part of the ADBI study course on Asian Economic Development and Integration at Hitotsubashi University, Tokyo on 13 June.

• Director of Research Ganeshan Wignaraja and other ADBI staff will attend a Video Conference: Flagship East Asia – South Asia Connectivity Study, organized by ADBI and SARD/ADB HQ on 14 June.

• Professor Insukindro will deliver a lecture on Foreign Portfolio Flows and Their Implications for the Effectiveness of Indonesian Monetary Policy on 18 June.

• The Asia-Pacific Forum on Financial Inclusion: Approaches, Regulations and Cross-Border Issues will be held in Shanghai on 25–27 June.

Fortnightly Progress Report 11–22 June 2012

I. HIGHLIGHTS

• CBT Director Yuqing Xing’s paper, Processing Trade, Exchange Rates and PRC’s Bilateral Trade Balances (ADBI Working Paper No. 270), was accepted by the Journal of Asian Economics.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN MASAHIRO KAWAI

• Dean Kawai participated in

World Bank’s Knowledge Advisory Commission in Washington, DC, 12 June.

ADB-EI IPAG (International Policy Advisory Group) meeting in New York, 13 June.

the seminar, Issues and Solutions for the Bottom Billion, held by The Sasakawa Peace Foundation, in Tokyo, 15 June. CBT Specialist Anbumozhi Venkatachalam also attended.

B. DEPUTY DEAN JAE-HA PARK

• Deputy Dean Jae-Ha Park, Director of Research Ganeshan Wignaraja, and other ADBI staff participated in video conferences on Disaster Risk Management and ADB Annual Meeting 2013 organized by ADBI, 19 June, and on ADBI Annual Meeting 2012, organized by ADB, 22 June.

C. RESEARCH

• Seminar by Professor Insukindro—Foreign Portfolio Inflows and Their Implications for the Effectiveness of Indonesian Monetary Policy was held at ADBI, 18 June.

• Special Adviser to the Dean Giovanni Capannelli gave a lecture as a part of the ADBI study course on Asian Economic Development and Integration at Hitotsubashi University, Tokyo, 20 June.

• Director of Research Ganeshan Wignaraja:

gave a review lecture at ADBI study course on Asian Economic Development and Integration at Hitotsubashi University, Tokyo, 13 June.

attended Video Conference: Flagship East Asia—South Asia Connectivity Study, organized by ADBI and SARD/ADB, 14 June, along with ADBI staff.

spoke on Competitiveness, Innovation and Climate Change in the New Era: Implications for the Philippines at the 1st

participated in a meeting of the management committee of the Regional Technical Group on Aid for Trade co-chaired by Japan and Cambodia in Manila, 19 June.

SPIK Innovation Fair, organized by SPIK Education, Research and Innovation Committee in Manila, 18 June.

D. CAPACITY BUILDING AND TRAINING (CBT)

• CBT Specialist Anbumozhi Venkatachalam: discussed the Japanese translation of the book, Climate Change and Green

Asia, with the Institute for Global Environmental Strategies, 12 June. attended a discussion with South Asia Department (SARD) for the East—South

Asia connectivity project, 14 June. gave a lecture at the Yokohama National University—Leadership Program in

Sustainable Living with Environmental Risk, 19 June.

E. OUTREACH

• ADBI working paper 362 Rethinking Capital Flows for Emerging East Asia by Stephen Grenville was published.

• A video interview with Peter Morgan, ADBI Senior Consultant for Research was uploaded to the ADBI YouTube channel and the ADBI website.

• The following posts were uploaded to Asia Pathways, the ADBI blog: The PRC must invest in education for sustained development by Minquan Liu and Can internationalization of the renminbi succeed where internationalization of the yen failed? by C.H. Kwan.

III. UPCOMING EVENTS

• Dean Kawai will participate in

a video conference on High Level Advisory Group Meeting Cambodia Vision 2030 and Country Diagnostic Study organized by ADB and ADBI, to be held at the ADB Cambodia Resident Mission, 25–26 June. Special Adviser to the Dean Giovanni Capannelli will attend.

Tokyo Beijing Forum in Tokyo organized by Genron NPO, 2–3 July. a seminar on the ADBI-IDB book, Shaping the Future of the Asia and the

Pacific–Latin America and the Caribbean Relationship, in Tokyo, 3 July.

• NBER Japan Project Meeting, jointly organized by ADBI and NBER, will be held at ADBI, 29–30 June. Dean Kawai will participate.

• Director of Research Ganeshan Wignaraja will speak on Asian Development in the Decades Ahead: Perspectives and Challenges at the 5th

• Senior Capacity Building Specialist David Kruger will collaborate with ADB’s CAREC Unit to organize Ways Forward for Corridor-Based Transport Facilitation Agreements in the CAREC Region, in Beijing, 2–3 July.

ADB-Japan Scholarship Program Scholars’ Research Forum, organized by ADB at ADBI, 22 June.

• CBT consultant Muhammad Cholifihani will organize the Asia-Pacific Forum on Financial Inclusion: Approaches, Regulations and Cross-Border Issues in Shanghai, 25–27 June. The event will be co-organized with the Asia-Pacific Finance and Development Center and APEC Business Advisory Council. Deputy Dean Jae-Ha Park and CBT Director Yuqing Xing will also participate.

Fortnightly Progress Report 25 June 6 July 2012

I. HIGHLIGHTS

• High Level Advisory Group Meeting. Cambodia Vision 2030/Country Diagnostic Study, organized by ADB and ADBI, was held at the ADB Cambodia Resident Mission on 25–26 June. Dean Kawai gave a presentation on ASEAN 2030: Implications for Cambodia Vision 2030 via video conference. Giovanni Capannelli, Special Adviser to the Dean, attended the meeting.

• Dean Kawai, Deputy Dean Jae-Ha Park, and Director of Research Ganeshan Wignaraja attended a Video Conference: Meeting of ADB’s Heads of Department and Offices with the Office of VPKM&SD, 6 July.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN MASAHIRO KAWAI

• Dean Kawai participated in

NBER Japan Project Meeting at ADBI, Tokyo, 29–30 June. Tokyo Beijing Forum organized by The Genron NPO, 2–3 July. ADBI-IDB book launch event for Shaping the Future of the Asia and the

Pacific–Latin America and the Caribbean Relationship

in Tokyo, 3 July.

B. RESEARCH

• Special Adviser to the Dean Giovanni Capannelli gave a presentation on Agricultural Productivity and Natural Resources Management in Support of Equitable Economic Development in ASEAN at the Ninth Meeting of the GMS Working Group on Agriculture: Innovative Financing through Public Private Partnership for Regional Investment in Low Carbon Agriculture in the GMS, Nanning, 4–6 July.

• Senior Research Fellow Minquan Liu and JBIC representative Atsushi Masuda attended meetings with Neil Britton on disaster risk management, 5–6 July.

C. CAPACITY BUILDING AND TRAINING (CBT)

• CBT Director Yuqing Xing participated in the Asia-Pacific Forum on Financial

Inclusion: Approaches, Regulations and Cross-Border Issues in Shanghai, on 25–27 June. He also discussed joint training programs with AFDC for 2013 with DG Li Kouqing of AFDC during his stay in Shanghai.

• CBT Director Yuqing Xing was interviewed by Andy Sharp of Bloomberg News on

the impact of surging reverse imports on the Japanese economy, on June 28.

• Senior Capacity Building Specialist David Kruger collaborated with ADB’s CAREC Unit to organize Ways Forward for Corridor-Based Transport Facilitation Agreements in the CAREC Region, in Beijing, on 2–3 July.

• CBT Consultant Muhammad Cholifihani organized Asia-Pacific Forum on

Financial Inclusion: Approaches, Regulations and Cross-Border Issues in Shanghai, 25–27 June. The event was co-organized with the Asia-Pacific Finance and Development Center and APEC Business Advisory Council.

D. OUTREACH

• Director of Research Ganeshan Wignaraja’s article, Deep integration in free trade agreements in China and India, was posted on the VOXeu website.

• ASIA WRITES posted a notice on ADBIs Developing Asia Journalism Awards 2012.

• Thailand Business News website posted two Asia Pathways articles: It is Time for Binding Agreements on Migrants’ Rights in Asia, by Nicola Piper Is Japanese aid ineffective? by Takashi Kiraha

• Working papers published:

1. WP 363: Prevention and Resolution of Foreign Exchange Crises in East Asia by Chalongphob Sussangkarn

2. WP 364: International Monetary Reform: A Critical Appraisal of Some Proposals by Yung Chul Park, Charles Wyplosz

3. WP 365: Do Exporting Firms in the People's Republic of China Innovate? by Ganeshan Wignaraja

4. WP 366: Revisiting the Internationalization of the Yuan by Yongding Yu 5. WP 367: ASEAN Integration in 2030: United States Perspectives by Pek

Koon Heng 6. WP 368: Agriculture and Food Security in Asia by 2030 by Kym Anderson,

Anna Strutt

III. UPCOMING EVENTS

• Dean Kawai will participate in an ADB-IMF-Thailand conference, Toward a More Stable Global

Economic System, in Bangkok, 12 July. SIEL 2012 Conference Singapore, at National University of Singapore,

Centre for International Law, 12–14 July.

• Director of Research Ganeshan Wignaraja will speak on Central Asia Integrating into the rest of Asia at the 50th Tokyo Foundation Forum on the New Silk Road and New Continentalism: Emerging Geopolitics and Geoeconomics in Central and South Asia, jointly organized by the Tokyo Foundation and the Edwin O. Reischauer Center, Tokyo, 9 July.

• Senior Capacity Building Specialist David Kruger will organize a High-Level Meeting: Towards Country-led Knowledge Hubs with the Government of Indonesia, JICA, UNDP and the World Bank, in Bali, 10–12 July.

Fortnightly Progress Report 9–20 July 2012

I. HIGHLIGHTS

• Dean Kawai participated in the conference, Towards a More Stable Global Economic System, jointly organized by ADB, the IMF, and the Thai Government, in Bangkok, 12 July.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN MASAHIRO KAWAI

• Dean Kawai gave a lecture on Asian Economic Development and Integration at Hitotsubashi University, Tokyo, 18 July.

B. DEPUTY DEAN JAE-HA PARK

• Deputy Dean Jae-Ha Park moderated a session, Term Paper Presentations, by students at Hitotsubashi

University, at ADBI in Tokyo, on 20 July. participated in ASEAN+3 working level meeting in Gyeongju, Republic of

Korea, 12–13 July.

C. RESEARCH

• Director of Research Ganeshan Wignaraja spoke on Central Asia Integrating into the rest of Asia at the symposium, New Silk Road and New Continentalism: Emerging Geopolitics and Geoeconomics in Central and South Asia, organized by the Tokyo Foundation and the Edwin O. Reischauer Center, in Tokyo, 9 July.

D. CAPACITY BUILDING AND TRAINING (CBT)

• Senior Capacity Building Specialist David Kruger collaborated with the Government of Indonesia, JICA, UNDP, and World Bank to organize the High-Level Meeting: Towards Country-led Knowledge Hubs, Bali, 10–12 July.

E. OUTREACH

• Three new posts were uploaded to ADBI’s blog, Asia Pathways: Should a resumption of US quantitative easing worry emerging Asia? Is the India growth story over? Asia’s growth, production networks, and SMEs

• The South China Morning Post quoted the ADBI working paper, Revisiting the Internationalization of the Yuan, by Yongding Yu, in the article, Yuan internationalisation runs into some problems.

• Dean Kawai was mentioned in an article on the conference, Towards a More Stable Global Economic System, published by The Nation titled, IMF deaf to Asia no longer, chief Lagarde vows

• Three articles by ADBI staff are among the top 20 downloaded articles in the Journal of Asian Economics. #7. Asian FTAs: Trends, prospects and challenges by Masahiro Kawai and

Ganeshan Wignaraja #13. East Asian economic regionalism: progress and challenges, by Masahiro

Kawai #18. Innovation, learning, and exporting in China: Does R&D or a technology

index matter? by Ganeshan Wignaraja

• Working papers published: 1. WP 369: Climate Change Mitigation and Green Growth in Developing Asia

by Stephen Howes, Paul Wyrwoll 2. WP 370: Europe's Debt Crisis, Coordination Failure, and International

Effects by Stefan Collignon 3. WP 371: Green Growth and Equity in the Context of Climate Change: Some

Considerations by Jeffrey D. Sachs, Shiv Someshwar

III. UPCOMING EVENTS

• Dean Kawai will give a presentation at the Track-2 Meeting on Northeast Asian

Cooperation organized by the Economic Research Institute for Northeast Asia in Tokyo at United Nations University, on 24 July.

deliver the keynote speech at a Myanmar high level policy seminar on central banking jointly organized by ADB and Central Bank of Myanmar in Nay Pyi Taw, Myanmar, on 27 July.

• Distinguished Speaker Seminar-Symposium: Dr. Shozaburo Jimi and Professor Muhammad Yunus—Toward A New Capitalism, will be held at ADBI, 25 July.

• Senior Capacity Building Specialist David Kruger will collaborate with the CAREC Unit, CWRD, and the Asia-Pacific Finance and Development Center to organize the policy dialogue Managing the WTO Accession Process: Strategies, Challenges and Practices for CAREC countries, in Shanghai, 24-–26 July.

• Director of Research Ganeshan Wignaraja will speak on Asia-LAC Intraregional cooperation at the ASIA y LATINOAMERICA en la Busqueda de: Una Asociation para el Desarrollo Conference, organized by SGIA and BID, in Montevideo, 31 July.

IV. STAFF NEWS

• Dr. Ha-Yan Lee joined CBT as a Capacity Building Economist on 9 July.

Fortnightly Progress Report 23 July to 3 August 2012

I. HIGHLIGHTS

• Distinguished Speaker Seminar-Symposium: Dr. Shozaburo Jimi and Professor Muhammad Yunus—Toward A New Capitalism, was sponsored by ADBI, 25 July. The event was co-sponsored by the Yomiuri Shimbun, and Japan’s Ministry of Foreign Affairs, Ministry of Finance, Ministry of Economy, Trade and Industry, and Financial Services Agency. A panel discussion moderated by Dean Kawai followed the keynote speech by Professor Yunus. Link to post event statement.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN MASAHIRO KAWAI

• Dean Kawai participated in a High Level Policy Seminar on Central Banking in Myanmar, 26–27 July.

B. RESEARCH

• Director of Research Ganeshan Wignaraja spoke on Asia-LAC intraregional cooperation at the ASIA y LATINOAMERICA en la Busqueda de: Una Asociation para el Desarrollo Conference, organized by SGIA and BID, in Montevideo, 31 July and on Shaping the Future of the Asia and the Pacific-Latin America and the Caribbean Relationship at ASIA Y LATINOAMÉRICA EN LA BÚSQUEDA DE UNA ASOCIACIÓN PARA EL DESARROLLO, organized by Banco Interamericano de Desarrollo, in Buenos Aires, 1 August.

C. CAPACITY BUILDING AND TRAINING (CBT)

• Senior Capacity Building Specialist David Kruger collaborated with the Central

Asia Regional Economic Cooperation (CAREC) unit, CWRD, and the Asia-Pacific

Finance and Development Center to organize the policy dialogue, Managing the WTO Accession Process: Strategies, Challenges and Practices for CAREC countries, in Shanghai, 24–26 July.

D. OUTREACH

• Two new posts were uploaded to ADBI’s blog, Asia Pathways: Singapore’s population conundrum US zero interest rates provoke world monetary instability and constrict the US

economy

• The Distinguished Speaker Seminar-Symposium, sponsored by ADBI on 25 July, was reported on by Asahi Shimbun, Nikkei Shimbun, Yomiuri Shimbun, The Daily Star, Kyodo News, and The Japan Times

• Dean Kawai was quoted in an article on the conference, Towards a More Stable Global Economic System, published by The Nation (Thai newspaper) titled, IMF chief's promise to listen to Asia is not enough

III. UPCOMING EVENTS

• Director of Research Ganeshan Wignaraja will give a presentation on FTAs at the workshop, Increasing FTA Utilization by SMEs, organized by APEC Committee on Trade and Investment, in Tokyo, 7 August.

• Distinguished Speaker Seminar: Patrick Low—Old Issues and New Frontiers: Managing Non-Tariff Measures will be held at ADBI, 30 August.

• Future of the World Trading System: Asian Perspectives workshop will be held at ADBI, 31 August.

• ADBI-WB Roundtable on Regional Commodity Exchange Marketing Integration in Asia will be held at ADBI, 12–13 September.

Fortnightly Progress Report 6–17 August 2012

I. HIGHLIGHTS

• Dean Masahiro Kawai approved the ADBI results framework, the first knowledge framework in ADB. The results framework has been uploaded to the ADBI website.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN’S OFFICE

• Giovanni Capannelli, Special Adviser to the Dean, joined a teleconference on 15 August with professional staff of SARD of ADB to discuss the CLMV project.

B. RESEARCH

• Director of Research Ganeshan Wignaraja gave a presentation on FTAs at the workshop, Increasing FTA Utilization by SMEs, organized by APEC Committee on Trade and Investment, in Tokyo, 7 August.

C. CAPACITY BUILDING AND TRAINING (CBT)

• CBT Director Yuqing Xing’s paper, Processing Trade, Exchange Rates and China’s Bilateral Trade Balances, (ADBI working paper, No. 270. 2011) has been published in the Journal of Asian Economics. 23(5):540–547. October 2012.

• CBT Director Xing met Satoshi Inomata of JETRO-IDE and Norihiko Yamano of OECD on 10 August to discussed preparations for the conference, Production Networks, Value-added and Trade Statistics Reforms to be held in Beijing on 25–26 September.

• CBT Director Xing and CBT Economist Ha-Yan Lee joined a teleconference on 15 August with professional staff of SARD of ADB to discuss the CLMV project.

• CBT Specialist Anbumozhi Venkatachalam attended the International Conference on Productivity and Sustainable, Inclusive Development in the Asia-Pacific, 9–10 August, in Taipei,China.

• CBT Consultant Muhammad Cholifihani met METI Director for Commerce and Consumer Affairs Policy Division Takashi Ishizaki, on 10 August, to discuss the Round table Discussion on Regional Commodity Exchange Market Integration in Asia, to be held at ADBI on 12–13 September.

D. OUTREACH

• Two new blog posts were uploaded to Asia Pathways: Myanmar has much to learn from Viet Nam’s exchange rate reforms Lessons for the eurozone from Asia

• Working papers published: WP 372: The Group of Twenty: Input and Output Legitimacy, Reforms,

and Agenda by Andrew Cooper

WP 373: Regional Monetary Cooperation in Latin America by José Antonio Ocampo and Daniel Titelman

WP 374: Coordinating Healthcare and Pension Policies: An Exploratory Study by Azad Singh Bali and Mukul Asher

• Director of Research Ganeshan Wignaraja was mentioned in the following

Latin America media outlets about his attendance at the conference, ASIA y LATINOAMERICA en la Busqueda de: Una Asociation para el Desarrollo Conference, in Montevideo, Uruguay, 31 July: Aguasdigital.com Pysnnoticias El Norte De Castilla.es Ideal.es Que!

• ADBI’s book, Shaping the Future of the Asia and the Pacific-Latin America

and the Caribbean Relationship, was featured on the Argentine website Dangdai.com

• ADBI was mentioned in the Inter Press Service article Free Trade with

China? No, Gracias

• ADBI working paper, How the iPhone Widens the United States Trade Deficit with the People's Republic of China, by Yuqing Xing and Neal Detert, was mentioned in the Financial Post article Canada-EU trade holds great potential.

III. FORTHCOMING EVENTS

• ADB Key Indicators for Asia and the Pacific 2012: Green Urbanization dissemination event will be held at ADBI, 21 August.

• Distinguished Speaker Seminar: Patrick Low—Old Issues and New Frontiers: Managing Non-Tariff Measures will be held at ADBI, 30 August.

• Future of the World Trading System: Asian Perspectives workshop will be held at ADBI, 31 August.

IV. STAFF NEWS

• Yasuro Narita joined ADBI as AMC Director, and Tsuyoshi Hyokai joined ADBI as AMC Administrative Officer.

Fortnightly Progress Report 20–31 August 2012

I. HIGHLIGHTS

• Future of the World Trading System: Asian Perspectives workshop was held at ADBI, 31 August. Dean Kawai delivered the welcome and closing remarks. Dean Kawai and ADBI Director of Research Ganeshan Wignaraja made a presentation on Asian FTAs: Trends and Challenges. In addition, Director of Research Ganeshan Wignaraja made a presentation on the Role and Engagement of SMEs in the regional production value-chains. Research Fellow Victor Pontines made a presentation on Exchange Rate Policy and FTAs.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN’S OFFICE

• Deputy Dean Jae Ha Park gave a lecture on economic cooperation and integration at Hitotsubashi University on 24 August.

B. RESEARCH

• ADB Key Indicators for Asia and the Pacific 2012: Green Urbanization dissemination event was held at ADBI, 21 August.

• Distinguished Speaker Seminar: Patrick Low - Old Issues and New Frontiers: Managing Non-Tariff Measures, was held at ADBI, 30 August.

C. CAPACITY BUILDING AND TRAINING (CBT)

• CBT Specialist Anbumozhi Venkatachalam discussed with ESCAP, UNDP, and ADB on the preparations for the workshop on Millennium Development Goals and the Post 2015 Development Framework for Central and East Asia, to be held at Almaty, Kazakhstan, on 26–28 September. He also discussed with JBIC on the preparations for the Seminar on Climate Finance, to be held in Tokyo on 13 October.

• CBT Director Yuqing Xing and CBT Senior Specialist David Kruger joined a video conference with CAREC representatives to discuss cooperation on training programs.

D. OUTREACH

• Two new blog posts were uploaded to Asia Pathways: Energy is the key to 21st century Eurasian geopolitics The Doha Round: Missed opportunities and how Asian institutions can help

• Working papers published: WP 375: Institutions for Asian Integration: Innovation and Reform

by Giovanni Capannelli and See Seng Tan WP 376: Japan's Post-Triple-Disaster Growth Strategy

by Masahiro Kawai and Peter J. Morgan WP 377: Central Banking for Financial Stability in Asia

by Masahiro Kawai and Peter J. Morgan

• ADBI’s book, Shaping the Future of the Asia and the Pacific-Latin America and the Caribbean Relationship, was reviewed by Foreign Affairs magazine.

• The paper, Central Banking for Financial Stability in Asia, by Dean Kawai and Peter Morgan, was posted on the Ministry of Finance, Japan, website.

• Dean Kawai’s article, Financial Regionalism, was published to the IMF website.

• CBT Director Yuqing Xing was mentioned in the Bloomberg article, Nissan Cars Head Home as Yen Erodes Century of Made-in-Japan. He was also quoted in a Xinhua News article, Japan allowed to buy 10.3 bln USD worth of Chinese government bond.

III. FORTHCOMING EVENTS

• The Dean will deliver a presentation at an OECD-APEC International Workshop on ICT for an aging society and disability at Waseda University on 12- 14 September in Tokyo.

• The Dean will deliver a presentation in a Seminar organized jointly by Tokyo Center for Economic Research and Keizai Doyukai in on 11 September, 2012 in Tokyo.

• Special Advisor to the Dean Giovanni Capannelli, and CBT Senior Specialist David Kruger, will organize a workshop in Bangkok on 11–13 September to finish planning for the pilot phase of the project Supporting Equitable Economic Development in ASEAN (CLMV Project).

• CBT Consultant Muhammad Cholifihani will organize with the World Bank Mission in Indonesia the event, ADBI-WB Roundtable on Regional Commodity Exchange Market Integration in Asia, to be held at ADBI on 12–13 September.

Fortnightly Progress Report 3–21 September 2012

I. HIGHLIGHTS

• Dean Kawai delivered the presentation, Asia-Pacific Economic Integration & Cooperation: Can Russia Join?, at the 3rd Japan-Russia Academic-Media Experts’ Meeting in Moscow, 18 September.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN KAWAI

• The Dean delivered a presentation at a seminar organized by the Tokyo Center for

Economic Research and Keizai Doyukai, in Tokyo, 11 September. delivered a presentation at the APEC-OECD International Joint Workshop

on ICT for an Aging Society and Disability at Waseda University, in Tokyo, 12–14 September.

spoke at the 3rd Singapore Global Dialogue conference in Singapore, 21 September.

B. RESEARCH

• Special Advisor to the Dean, Giovanni Capannelli, and Senior Capacity Building Specialist David Kruger organized a workshop in Bangkok on 11–13 September to finish planning for the pilot phase of the project Supporting Equitable Economic Development in ASEAN (CLMV Project).

• Director of Research Ganeshan Wignaraja spoke on Market Economic Challenges in Northeast Asia at an international workshop organized by Konrad Adenauer Stiftung, Tokyo, 21 September.

• Senior Consultant for Research Peter Morgan spoke on Monetary Policy Frameworks in Asia: Experience, Lessons and Issues at the PEO Structure Specialists Meeting: the 2nd Meeting on Monetary Policy Regimes, organized by Asia Pacific Institute of Research, Osaka, 21–22 September.

C. CAPACITY BUILDING AND TRAINING (CBT)

• CBT Specialist Anbumozhi Venkatachalam attended the Leadership Program for Sustainable Development and Climate Change in Asia and the Pacific at ADB in Manila, 10–14 September.

• CBT Consultant Muhammad Cholifihani organized with the World Bank Mission in Indonesia the ADBI-WB Roundtable on Regional Commodity Exchange Market Integration in Asia at ADBI, 12–13 September.

D. OUTREACH

• The South China Morning Post published the latest Asia Pathways post, Toward a new capitalism, by Muhammad Yunus.

• Thailand Business News published the Asia Pathways post, Energy is the key to 21st century Eurasian geopolitics.

• Working papers published: WP 378: Managing Capital Flows in an Economic Community: The

Case of ASEAN Capital Account Liberalization by Yung Chul Park, Shinji Takagi

WP 379: Central Banking for Financial Stability: Some Lessons from the Recent Instability in the United States and Euro Area

by Larry D. Wall WP 380: World Bank, Inter-American Development Bank, and

Subregional Development Banks in Latin America: Dynamics of a System of Multilateral Development Banks

by Fernando Prada

• Dean Kawai was cited in the Eurasia Review article, Japan’s Dilemma On The Trans-Pacific Partnership – Analysis.

• The Calgary Sun article, Langrish: On threshold of historic deal, cites the ADBI working paper, How the iPhone Widens the United States Trade Deficit with the People's Republic of China by Yuqing Xing and Neal Detert.

• The Journal of International Commerce, Economics and Policy published Senior Research Fellow Minquan Liu’s paper, Growth and Equity in China: Pattern, Causes and Challenges.

III. FORTHCOMING EVENTS

• The Dean will speak at the:

GRIPS-Sasakawa Piece Foundation Seminar in Tokyo, 24 September. International Symposium on International Monetary System Reform

and Internationalization of RMB in Shanghai, 27 September. Annual Conference of the China Society of World Economics in

Shanghai, 28 September.

• Distinguished Speaker Seminar: Dale W. Jorgenson—The Rise of Asia and the New World Order will be held at ADBI, 25 September.

• Distinguished Speaker Seminar: Justin Yifu Lin - The Quest for Prosperity: How Developing Economies Can Take Off will be held at ADBI, 26 September.

• CBT Director Yuqing Xing and Capacity Building Economist Ha-Yan Lee will organize the International Conference on Production Networks, Value-Added, and Trade Statistics Reforms in Beijing, 25–26 September, with the Institute for Developing Economies, Japan External Trade Organization and China Center for Economics Research, Peking University.

• CBT Specialist Anbumozhi Venkatachalam will organize the Sub-regional Workshop on Millennium Development Goals and the Post 2015 Development Framework for Central and East Asia in Almaty, Kazakhstan, on 26–28 September, with ADB, United Nations Development Programme, and United Nations Economic and Social Commission for Asia and the Pacific,

Fortnightly Progress Report 24 September-5 October 2012

I. HIGHLIGHTS

• ADBI held a meeting of its Advisory Council on 2 October at ADB headquarters.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN KAWAI

• The Dean delivered a speech at the International Symposium on International Monetary System Reform and Internationalization of RMB held in Shanghai, 27 September.

• The Dean delivered a speech at the Annual Conference of the China Society of World Economics in Shanghai, 28 September.

• The Dean delivered a lecture at University of Tokyo, 5 October.

B. RESEARCH

• Distinguished Speaker Seminar: Dale W. Jorgenson—The Rise of Asia and the New World Order was held at ADBI, 25 September.

• Seminar by Manmohan Parkash—Infrastructure Development in South and Southeast Asia was held at ADBI, 27 September.

C. CAPACITY BUILDING AND TRAINING (CBT)

• CBT Director Yuqing Xing and Capacity Building Economist Ha-Yan Lee organized the International Conference on Production Networks, Value-Added, and Trade Statistics Reforms in Beijing, 25–26 September, with the Institute for Developing Economies, Japan External Trade Organization, and China Center for Economics Research, Peking University.

• CBT Director Yuqing Xing organized the policy dialogue, ASEAN, the PRC and India: the Great Transformation? at ADB, 1 October.

• CBT Specialist Anbumozhi Venkatachalam organized the Sub-regional Workshop on Millennium Development Goals and the Post 2015 Development Framework for Central and East Asia in Almaty, Kazakhstan, 26–28 September, with ADB, United Nations Development Programme, and United Nations Economic and Social Commission for Asia and the Pacific.

• CBT Specialist Anbumozhi Venkatachalam attended the Climate Change and Green Asia (CCGA) steering committee meetingon 1 October at ADB headquarters.

D. OUTREACH

• The blog post, Avoiding a household-debt-driven crisis in Korea, by Deputy Dean Jae-Ha Park, was uploaded to Asia Pathways. This was reposted on the Thailand Business News website.

• Senior Consultant for Research Peter Morgan appeared on NHK World to discuss the outlook for the global economy.

• Working papers published: WP 385: The World Bank and the Asian Development Bank: Should

Asia Have Both? by Vikram Nehru

WP 384: The Emerging "Post-Doha" Agenda and the New Regionalism in the Asia-Pacific by Michael Plummer

WP 383: Sovereign Risk: A Macro-Financial Perspective by Udaibir S. Das, Maria A. Oliva, Takahiro Tsuda

WP 382: Asia-Latin America Free Trade Agreements: An Instrument for Inter-Regional Liberalization and Integration? by Ganeshan Wignaraja, Dorothea Ramizo, Luca Burmeister

WP 381: New Measures of the Trilemma Hypothesis: Implications for Asia by Hiro Ito, Masahiro Kawai

III. FORTHCOMING EVENTS

The Dean will deliver a speech at the World Forum for Democracy organized by the Council of Europe in Strasbourg on 8–9 October.

Seminars in conjunction with the IMF and World Bank annual meetings will be held at ADBI, 12–13 October.

Eurozone Crisis and Its Implications for Asia Economies seminar will be held at ADBI, 12 October. Dean Kawai will deliver the closing remarks.

Adjusting the World to the New Realities of the International Financial System seminar will be held at ADBI, 12 October.

Asia-Latin America and the Caribbean High Level Economic Policy Forum Asia-Latin America: New Engines of Growth of the Global Economy? organized by ADBI, ADB, and Inter-American Development Bank, will be held at ADBI, 13 October. Dean Kawai will deliver the concluding remarks.

Beyond Nimbysim: Towards Integrated Reforms for Financing Green Growth Symposium, jointly organized by ADBI, ADB, Japan Bank for International Cooperation, and Association of Development Financing Institutions in Asia and the Pacific, will be held at ADBI, 13 October.

Conference on Global Economic Cooperation: Views from G20 Countries, jointly organized by ADBI and ICRIER will be held in New Delhi, 7–9 October. Deputy Dean Jae-Ha Park will participate in a panel discussion on Financial Regulatory Reforms: Not far enough or Overkill? and he will also chair a session on Reforming the International Monetary System: The Need for a New Framework.

A dissemination seminar by the European Bank for Reconstruction and Development on Russian diversification will be held at ADBI, 11 October.

Senior Research Fellow Minquan Liu and the Japan Bank for International Cooperation representative at ADBI, Atsushi Masuda, will participate in the OCT Sendai Dialogue, organized by the World Bank, in Sendai, Japan, 9–10 October.

CBT Director Yuqing Xing will organize the ADBI-USABC Capacity Building Workshop on PPP Infrastructure Project Modeling, 17–18 October.

CBT Consultant Muhammad Cholifihani will organize the workshop Sharing Asian Experiences: Promoting FDI Effectively, in Singapore, 8–10 October, with S. Rajaratnam School of International Studies, Nanyang Technological University, Singapore. CBT Director Yuqing Xing will attend.

Capacity Building Economist Ha-Yan Lee will organize with the APEC Study Centre, a regional forum on financial inclusion, in Melbourne, Australia, 17–18 October.

Fortnightly Progress Report 8–19 October 2012

I. HIGHLIGHTS

• ADBI hosted a number of meetings in conjunction with the IMF and World Bank annual meetings in Tokyo, 11–13 October.

EBRD Dissemination Seminar on Russian Diversification, organized by ADBI and EBRD, was held on 11 October.

Adjusting the World to the New Realities of the International Financial System, a workshop co-hosted by ADBI and the Reinventing Bretton Woods Committee, was held on 12 October.

ADBI and the Asahi Shimbun newspaper co-hosted the seminar, The Eurozone Crisis and Its Implications for Asian Economies, on 12 October. Dean Kawai attended the panel discussion and delivered the closing remarks.

A high-level policy forum on Asia-Latin America: New Engines of Growth of the Global Economy? was held on 13 October. The forum was co-hosted by ADBI, ADB, and the Inter-American Development Bank. Dean Kawai delivered the concluding remarks.

Beyond Nimbysim: Towards Integrated Reforms for Financing Green Growth, was held on 13 October. The seminar was co-hosted by ADBI, ADB, ADFIAP, and the Japan Bank for International Cooperation. Dean Kawai moderated the panel discussion.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN’S OFFICE

• The Dean delivered a speech at the World Forum for Democracy, organized by the Council of Europe, in Strasbourg, 8–9 October.

• The Dean delivered a speech at the International Forum for Trilateral Cooperation organized by the Trilateral Cooperation Secretariat, in Seoul, 15 October.

• The Deputy Dean presented at the 4th G20 Conference on Global Economic Cooperation jointly organized by ICRIER, ADBI, IMF, Konrad Adenauer Stiftung, New Delhi, 7-9 October.

• The Deputy Dean presented at the 6th Asia-Europe Editors' Roundtable jointly organized by Asia-Europe Foundation, Chatham House and Bangkok Post in Bangkok on 13 October.

B. RESEARCH

• Conference on Global Economic Cooperation: Views from G20 Countries, organized by ADBI and ICRIER, was held in New Delhi, 7–9 October. Deputy Dean Jae-Ha Park participated in a panel discussion on Financial Regulatory Reforms: Not far enough or Overkill?  and chaired a session on Reforming the International Monetary System: The Need for a New Framework.

• A seminar by Alicia Gracia-Herrero, PRC’s Thirst for Commodities and Impact on Latin America, was held at ADBI, 11 October. Alicia Gracia-Herrero is chief economist for emerging markets at Banco Bilbao Vizcaya Argentaria.

• Seminar by Alejandro Jara: Latin America and Asia—More Cooperation and Trade was held at ADBI, 16 October.

• Senior Research Fellow Minquan Liu and JBIC representative at ADBI, Atsushi Masuda, participated in the OCT Sendai Dialogue in Sendai, Japan, 9–10 October. The World Bank organized the event.

C. CAPACITY BUILDING AND TRAINING (CBT)

• CBT Consultant Muhammad Cholifihani organized the workshop, Sharing Asian Experiences: Promoting FDI Effectively, in Singapore, 8–10 October, with S. Rajaratnam School of International Studies, Nanyang Technological University, Singapore. CBT Director Yuqing Xing made a presentation on Experience of China in Attracting FDI.

• CBT Specialist Anbumozhi Venkatachalam organized Beyond Nimbysim: Towards Integrated Reforms for Financing Green Growth held at ADBI, 13 October.

• Capacity Building Workshop on PPP Infrastructure Project Modeling, organized by ADBI and US ASEAN Business Council, was held in Singapore, 17–18 October. CBT Director Yuqing Xing took part in the event.

• Capacity Building Economist Ha-Yan Lee organized Regulatory Environments to Promote Financial Inclusion in Developing APEC and Other Regional Economies, held in Melbourne, Australia, 17–18 October, with the APEC Study Centre.

D. OUTREACH

• Two new posts were uploaded to Asia Pathways: G20 membership: horses-for-courses Japan’s post-disaster growth strategy

• Dean Kawai was cited in the Investment Monitor article, The Global Outlook.

And he was cited in the Emerging Markets article, Policymakers say Asia, LatAm should merge

• Ganeshan Wignaraja article, Comparing China and India’s FTA strategies, was posted on the East Asia Forum blog.

• Deputy Dean Jae-Ha Park was cited in the Bangkok Post articles, Expert Say Asia Suffers from Lack of Common Currency, and Yuan unlikely to rule in short term. He was also cited in The Nation article, ASEM Finance Ministers to consider regional currencies.

• Working papers published: WP 386: How Should We Bank With Foreigners?-An Empirical

Assessment of Lending Behavior of International Banks to Six East Asian Economies by Victor Pontines, Reza Siregar

WP 387: Demographics, Labor Mobility, and Productivity by E. J. Wilson, K. Jayanthakumaran, R. Verma

WP 388: Internationalization of Tertiary Education Services in Singapore by Mun-Heng Toh

WP 389: Financial Globalization in Emerging Countries: Diversification vs. Offshoring by Francisco Ceballos, Tatiana Didier, Sergio L. Schmukler

WP 390: Establishing Monetary Union in the Gulf Cooperation Council: What Lessons for Regional Cooperation? by Shinji Takagi

III. FORTHCOMING EVENTS

• The Dean will deliver a speech at the Singapore Policy Forum to be held in Singapore, 25 October.

• The Dean will take part in and deliver a speech at the Royal Government of Cambodia-ERIA-Harvard Symposium, on Realizing a More Integrated, Competitive, Equitable, and Resilient ASEAN Community, in Phnom Penh, 30 October.

• Director of Research Ganeshan Wignaraja will give a presentation on East Asia-South Asia FTAs: are they effective? at the workshop, Integrating

South and East Asia: An Analysis of the Economic Effects of Intensified Regional Cooperation and Integration, organized by The Korea Institute for International Economic Policy and ADB, to be held in Seoul, 22–23 October.

• Distinguished Speaker Seminar: Nicolas Veron—The Eurozone Crisis: Causes and Prospects, will be held at ADBI, 26 October. Nicolas Veron is a Senior Fellow at Bruegel and a Visiting Fellow at the Peterson Institute for International Economics.

• Disaster Risk Management—Inception Meeting will be held at ADBI, 28–29 October. Dean Kawai will deliver the opening remarks.

• Special Adviser for Dean Giovanni Capannelli will speak on Developing Indicators for Asian Integration at an Expert Workshop on Indicator-Based Monitoring of Regional Economic Integration, to be held in Brussels, Belgium, 25–26 October. And he will make a presentation on Potential New Growth Areas in the Domestic and the Intra-regional Markets at a High-level Seminar on Finding Asia's New Sustainable Growth Model Post GFC: The Role of the Central Banks, organized by SEACEN-CeMCoA and BOJ, to be held in Kuala Lumpur, 6–7 November.

• Asian Development Review Conference on Development Issues in Asia, organized by ADB and ADBI, will be held in Manila, 7 November. Dean Kawai will deliver the opening remarks. Senior Research Fellow Minquan Liu and Senior Consultant for Research Peter Morgan will discuss the papers presented at the conference.

• Capacity Building Economist Ha-Yan Lee will organize Effective Policies and Experiences for Poverty Reduction in Asia, which will be held in Kunming, PRC, 23–25 October, with ADB’s Economics and Research Department, and Yunnan University’s Research Institute for Indian Ocean Economies. CBT Director Yuqing Xing will attend.

Fortnightly Progress Report 22 October–2 November 2012

I. HIGHLIGHTS

• The Disaster Risk Management project was launchedat ADBI on 28–29 October. Dean Kawai delivered the opening remarks.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN KAWAI

• The Dean delivered a speech at the Singapore Policy Forum held in Singapore on 25 October 2012

• The Dean took part in and delivered a speech at the Royal Government of Cambodia-ERIA—Harvard Symposium, Realizing a More Integrated, Competitive, Equitable, and Resilient ASEAN Community, in Phnom Penh on 30 October 2012.

B. RESEARCH

• Distinguished Speaker Seminar: Nicolas Veron,senior fellow at Bruegel and visiting fellow at the Peterson Institute for International Economics, spoke on The Eurozone Crisis: Causes and Prospects at ADBI on 26 October.

• Seminar: PatiPoblete, Asia regional director for Global Footprint Network,spoke on The Ecological Footprint—Global and Asia Overview at ADBI on 1 November.

• The Asian Development Review Conference on Development Issues in Asia, co-organized by ADB and ADBI, was held in Manila on 7 November. Dean Kawai delivered the opening remarks. Senior research fellow Minquan Liu and senior consultant for research Peter Morgan discussed the papers presented at the conference.

• Director of research Ganeshan Wignaraja gave a presentation on East Asia-South Asia FTAs: Are They Effective? at the 2nd Workshop co-organized by KIIEP and ADB, Integrating South and East Asia: An

Analysis of the Economic Effects of Intensified Regional Cooperation and Integration,held in Seoul on 22–23 October.

• Director of research Ganeshan Wignaraja participated in a dialogue with Canadian parliamentarians and Japanese officials on the prospects for a Canada-Japan free trade agreement in Tokyo on 29 October and gave a lecture ontrade and developmentat Tokyo Universityon 1 November.

• Special adviser to the Dean Giovanni Capannelli spoke on Developing Indicators for Asian Integration at an Expert Workshop on Indicator-Based Monitoring of Regional Economic Integration held in Brussels on 25–26 October and made a presentation on Potential New Growth Areas in the Domestic and the Intra-regional Markets at the High-level Seminar on Finding Asia's New Sustainable Growth Model Post GFC: The Role of the Central Banks, jointly organized by SEACEN-CeMCoA and BOJ in Kuala Lumpur on 6–7 November.

C. CAPACITY BUILDING AND TRAINING (CBT)

• CBT director Yuqing Xing's two ADBI Working Papers "PRC's High-tech Exports: Myth and Reality" (ADBI Working Paper 357) and "How the iPhone Widens the US Trade Deficit with PRC" (ADBI Working Paper 257) were cited in The New York Times article "Better Ways to Deal with China" on 23 October.

• CBT director Yuqing Xing was interviewed by American Radio program "Market Places" on global value chains.

• CBT directorYuqing Xing has been invited to be a member of White Rose East Asian Centre International Advisory Board.

• CBT directorYuqing Xing'sADBI Working Paper "How the iPhone Widens the US Trade Deficit with PRC" (ADBI Working Paper 257) was cited in the Wall Street Journal article "Importing Jobs From China", published on 18 October 2012.

• Capacity building economist Ha-Yan Lee organized “Effective Policies and Experiences for Poverty Reduction in Asia” on 23–25 October 2012 in Kunming, PRC with ADB,the Economics and Research Department and Research Institute for Indian Ocean Economies, and Yunnan University. CBT director Yuqing Xing attended.

• CBT director Yuqing Xing and CBT consultantMuhammad Cholifihaniconducted a teleconference with the OECD to prepare "The Third ADBI-ILO-OECD Roundtable on Migration in Asia: Assessing Labor Market Requirement for Foreign Workers" on 30 October. The event will be held in Bangkok in January 2013.

D. OUTREACH

• Working papers published:

WP 391: Impact of Changes in the Global Financial Regulatory Landscape on Asian Emerging Markets

byTarisaWatanagase WP 392: The Dodd-Frank Act and Basel III: Intentions, Unintended Consequences, and Lessons for Emerging Markets

byViral V. Acharya WP 393: The People's Republic of China and Global Imbalances from a View of Sectorial Reforms

byHiro Ito, Ulrich Volz

• Asia Pathways posts published:

Indonesia’s fuel subsidies benefit the rich far more than the poor by RimawanPradiptyo

PRC and India: pursuing the same approach to free trade agreements?byGaneshanWignaraja

III. FORTHCOMING EVENTS

• The Dean will attend the Asian Development Review Conference on

Development Issues in Asia held at Manila HQ on 7 November 2012. • The Dean will deliver a speech at the Macro Economy Research

Conference ”China’s Transition and the Global Economy" organized by Nomura Foundation on 13 November 2012 in Tokyo.

• The Dean will be a keynote speaker at the USM-AUT International Conference in Penang, Malaysia on 17 November 2012.

• CBT director Yuqing Xing will organize "PPP in Infrastructure Development: Basics for Negotiation" together with the Center for Financial, Economic and Banking Studies (CEFEB), andAgenceFrançaise de Développement (AFD).

• Distinguished Speaker Seminar: Paola Subacchi, research director for international economics at Chatham House, will speak on “The Road to Fiscal Union in the Eurozone: Fantasy or Reality?” at ADBI on 14 November.

• ADBI’s 15th Annual Conference on "Growth and Regional Integration in Asia-Pacific in 2013 and Beyond" will be held at ADBI on 30 November. Dean Kawai and director of research Ganeshan

Wignaraja will present their joint paper on “Patterns of Production Networks and Free Trade Agreements in Asia: Review of Recent Evidence.” Dean Kawai will moderate the High-level Panel Discussion on the eurozone crisis and the Asia-Pacific and will deliver the closing remarks.

• Special adviser to the Dean Giovanni Capannelli will present the main findings of the ADB and ADBI joint study ASEAN 2030 at theASEAN Business and Investment Summit, organized by the ASEAN Secretariat in Phnom Penh on 18 November.

Fortnightly Progress Report 5–16 November 2012

I. HIGHLIGHTS

• The ADBI Three-Year Rolling Work Program, 2013–2015 and Budget for 2013 was discussed by the Budget Review Committee of the ADB Board of Directors on 6 November.

• The Asian Development Review Conference on Development Issues in Asia, co-organized by ADB and ADBI, was held in Manila, 7 November. Dean Kawai delivered opening remarks. Senior Research Fellow Minquan Liu and Senior Consultant for Research Peter Morgan discussed the papers presented at the conference.

• Two major ADBI projects – ASEAN, the PRC, and India: The Great Transformation? and ASEAN 2030 – were presented by the Dean, Deputy Dean, and former lead advisor to the Dean, Biswanath Bhattacharyay to the ADB Board of Directors at an Informal Board Seminar on 6 November.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN KAWAI

• The Dean attended the Asian Development Review Conference on Development

Issues in Asia, in Manila, 7 November. delivered a speech at the Macro Economy Research Conference,

organized by the Nomura Foundation in Tokyo, 13 November. was keynote speaker at the USM-AUT International Conference in

Penang, Malaysia, 17 November. gave a presentation on ADBI at the Insight Thursday meeting on 8

November. together with the deputy dean and the Research and CBT directors, met

with professors of Seoul National University on 12 November to pursue possible collaboration

B. RESEARCH

• Distinguished Speaker Seminar: Paola Subacchi, research director of international economics at Chatham House, spoke on The Road to Fiscal Union in the Eurozone: Fantasy or Reality? at ADBI, 14 November.

• Giovanni Capannelli, Special Adviser for the Dean, made a presentation on Potential New Growth Areas in the Domestic and the Intra-regional Markets at the High-level Seminar on Finding Asia's New Sustainable Growth Model Post GFC: The Role of the Central Banks, jointly organized by SEACEN-CeMCoA and Bank of Japan, in Kuala Lumpur, on 6–7 November.

C. CAPACITY BUILDING AND TRAINING (CBT)

• CBT director Yuqing Xing organized PPP in Infrastructure Development: Basics for Negotiation, together with the Center for Financial, Economic and Banking Studies, and Agence Française de Développement.

D. OUTREACH

• A new post was uploaded to Asia Pathways: The eurozone crisis will not stop Asia’s economic integration

• Dean Kawai was cited in a Business Times Singapore article, BOJ's yen for

cheap loans. • Deputy Dean Jae-Ha Park was cited in the Thai News Service article, ASEM

business forum opens.

• Working papers published: WP 394: Regional Financial Arrangements and the International

Monetary Fund by Barry Eichengreen

WP 395: Financial Safety Nets in Asia: Genesis, Evolution, Adequacy, and Way Forward by Hal Hill and Jayant Menon

WP 396: The Relationship between Structural Change and Inequality: A Conceptual Overview with Special Reference to Developing Asia by Joshua Aizenman, Minsoo Lee, Donghyun Park

III. FORTHCOMING EVENTS

• The Dean will deliver a speech at the Conference on East Asian Economic Integration jointly organized by ADBI-CASS-KDI-NIRA, in Seoul, 20 November.

• The Dean will deliver a speech at the International Symposium on Impact of the Global Sovereign Debt Crisis on Emerging Countries organized by Konrad-Adenauer-Stiftung, in Shanghai, November 24.

• ADBI 15th Annual Conference on Growth and Regional Integration in Asia-Pacific in 2013 and Beyond, will be held at ADBI, 30 November. Dean Kawai and Director of Research Ganeshan Wignaraja will present their joint paper on patterns of production networks and free trade agreements in Asia: review of recent evidence. Dean Kawai will moderate the High-level Panel Discussion on Eurozone crisis and the Asia-Pacific, and he will also deliver the closing remarks.

• Special Adviser for the Dean, Giovanni Capannelli, will present the main findings of the ADB and ADBI joint study ASEAN 2030 at the ASEAN Business and Investment Summit, organized by ASEAN Secretariat in Phnom Penh, 18 November.

Fortnightly Progress Report 19–30 November 2012

I. HIGHLIGHTS

• ADBI 15th Annual Conference on Growth and Regional Integration in Asia-Pacific in 2013 and Beyond was held at ADBI, 30 November. ADB President Haruhiko Kuroda delivered the opening remarks. Dean Kawai moderated the High-level Panel Discussion on Eurozone crisis and the Asia-Pacific, which was attended by President Kuroda. Dean Kawai delivered the closing remarks.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN KAWAI

• The Dean Delivered a speech at the Conference on East Asian Economic Integration

organized by ADBI-CASS-KDI-NIRA, in Seoul, 20 November. Delivered a speech at the International Symposium on Impact of the

Global Sovereign Debt Crisis on Emerging Countries organized by Konrad-Adenauer-Stiftung, in Shanghai, 24 November.

Delivered a speech at the conference, Global Financial Crisis: Lessons from Japan organized by Global Interdependence Center, in Tokyo, 3 December.

and Deputy Dean Jae-Ha Park attended the KDI, ADBI, CASS, and NIRA seminar in Seoul on 20 November.

B. RESEARCH

• Joint ADB/ADBI Seminar ASEAN 2030 Study Report and the Seminar on CLMV Project were held in Phnom Penh, 17–19 November, in conjunction with the 21st ASEAN Summit. Special Adviser for the Dean, Giovanni Capannelli, presented the main findings of the ADB/ADBI joint study ASEAN 2030.

C. CAPACITY BUILDING AND TRAINING (CBT)

• Senior Capacity Building Specialist David Kruger and CBT staff organized Developing Asia Journalism Awards (DAJA) Forum 2012 at ADBI, 27–30 November. CBT Director Yuqing Xing moderated a session. And CBT Specialist Anbumozhi Venkatachalam gave a presentation.

• CBT Specialist Anbumozhi Venkatachalam organized the Workshop on Agricultural Adaptations to Climate Change in Bangkok, 19–23 November, with Asian Productivity Organization, and Thailand Productivity Institute.

• Capacity Building Economist Ha-Yan Lee gave a presentation at the Facilitating best practice policies for trade and investment in financial services in the APEC region workshop in Singapore, 27–28 November.

D. OUTREACH

• Working papers published: WP 397: Historical Sources of Institutional Trajectories in

Economic Development: China, Japan, and Korea Compared by Masahiko Aoki

WP 398: Lifestyle Choices and Societal Behavior Changes as Local Climate Strategy by Brahmanand Mohanty, Martin Scherfler, Vikram Devatha

WP 399: Impact of Production Linkages on Industrial Upgrading in ASEAN, the People’s Republic of China, and India: Organizational Evidence of a Global Supply Chain by Tomohiro Machikita, Yasushi Ueki

• Two new posts were uploaded to Asia Pathways:

Confronting rising inequality in Asia Women helping women: key to economic growth in Asia

• United News of Bangladesh reported on the Developing Asia Journalism

Awards 2012 event; ADBI selects Dhaka Courier Managing Editor as Dev Asia Journo of Year.

III. FORTHCOMING EVENTS

• The Dean will

take part in 5th Meeting of International Policy Advisory Group in Seoul, 3–4 December.

deliver a speech at CNCPEC Seminar on TPP 2012 Progress and Challenges in Beijing, 7 December. Director of Research Ganeshan Wignaraja will also attend.

attend the conference, The BRICS and Asia, Currency Internationalization, and International Monetary Reform, in Hong Kong, China, 10–11 December. The conference is organized by ADB, Centre for International Governance Innovation, and Hong Kong Institute for Monetary Research. Deputy Dean Jae-Ha Park and Research Fellow Victor Pontines will also attend.

deliver a lecture at the Graduate School of Meiji University, 15 December.

• Senior Consultant for Research Peter Morgan will give a presentation on Financial Stability Risk Assessment Monitoring at the International Seminar on Financial System Stability, on Bali, 6–7 December. The seminar is organized by Bank of Indonesia.

• The ADB/ADBI seminar, The Future of Asia’s FTAs—Book Launch of Asia’s Free Trade Agreements: How is Business Responding?, will be held at ADB’s PRC Resident Mission, Beijing, 6 December. Dean Kawai will make a presentation on Spread of Asia’s FTAs, Business Impacts and Policy Implication. Director of Research Ganeshan Wignaraja will make a presentation on Implications of FTAs for SME Support and WTO Rules. Dean Kawai and Director of Research Ganeshan Wignaraja will also participate in the panel discussion.

• Seminar by El-hadj Bah: Growth Constraints on Small Companies in Myanmar will be held at ADBI, 11 December.

• Seminar by Gregory Chin: Renminbi Internationalization: Asian Interests, Motivations and Objectives will be held at ADBI, 14 December.

• Senior Research Fellow Minquan Liu will present his paper, Understanding the pattern of growth and equity in China, at a seminar organized by the Department of Economics, School of Oriental and African Studies, University of London, 4 December. And he will attend the workshop, Sustainable Disaster Databases for South and Southeast Asia, organized by the Centre for Research on the Epidemiology of Disasters, Global Facility for Disaster Reduction and Recovery, USAID and USL, in Hong Kong, China, 11 December. He will also attend Kick-off Meeting on Disaster Risk Management in China, organized by CDRF in Beijing, 13–14 December.

• Capacity Building Economist Ha-Yan Lee will organize CLMV project training on Agricultural Productivity and Natural Resources' Management in Khon Kaen, Thailand, 11–15 December.

• Deputy Dean Jae-Ha Park will attend the conference, International Financial Cooperation Round Table 2012, organized by the government of the Republic of Korea in Jeju, 6–7 December.

Fortnightly Progress Report 3–14 December 2012

I. HIGHLIGHTS

• The ADB–ADBI seminar, The Future of Asia’s FTAs—Book Launch of Asia’s Free Trade Agreements: How is Business Responding?, was held at ADB’s PRC Resident Mission, in Beijing, 6 December. Dean Kawai made a presentation on The Spread of Asia’s FTAs, Business Impacts and Policy Implication. Director of Research Ganeshan Wignaraja made a presentation on Implications of FTAs for SME Support and WTO Rules. Dean Kawai and Director of Research Ganeshan Wignaraja also participated in the panel discussion.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN’S OFFICE

• The Dean and Director of Research Ganeshan Wignaraja, attended the

seminar, TPP 2012 Progress and Challenges, organized by China National Committee for Pacific Economic Cooperation in Beijing, 7 December. Dean Kawai made a presentation titled Japan and the TPP. Director of Research Ganeshan Wignaraja commented on paper presented.

took part in 5th Meeting of International Policy Advisory Group in Seoul, 3–4 December.

delivered a lecture at the Graduate School of Meiji University, 15 December.

• Deputy Dean Jae-Ha Park attended the conference, International Financial Cooperation Round Table 2012, organized by the government of the Republic of Korea in Jeju, 6–7 December.

• The Deputy Dean and Research Fellow Victor Pontines attended the conference, The BRICS and Asia, Currency Internationalization, and International Monetary Reform, jointly organized by ADB, GIGI and HKIMR in Hong Kong, China, 10–11 December. The Deputy Dean also participated in

the Asian Policy Roundtable and the panel discussions on The Way Forward. Research Fellow Victor Pontines discussed presented research papers.

B. RESEARCH

• Senior Consultant for Research Peter Morgan gave a presentation titled Financial Stability Risk Assessment Monitoring, at the International Seminar on Financial System Stability, organized by Bank of Indonesia, on Bali, 6–7 December.

• El-hadj Bah, a lecturer of economics at the University of Auckland, New Zealand, spoke on Growth Constraints on Small Companies in Myanmar, at ADBI, 11 December.

• Gregory Chin, associate professor of political economy at York University, Toronto, gave a lecture titled Renminbi Internationalization: Asian Interests, Motivations and Objectives, at ADBI, 14 December.

• Nagesh Kumar, director of ESCAP South and South-West Asia Office, made a presentation titled Growing Together: Economic Integration for an Inclusive and Sustainable Asia-Pacific Century, at ADBI, 14 December.

• Director of Research Ganeshan Wignaraja gave a presentation titled Regional Integration and Trade in Asia, at launch events for the ADB Asian Development Outlook Update 2012 in Osaka, 11 December and Tokyo, 12 December.

• Senior Research Fellow Minquan Liu presented his paper, Understanding the pattern of growth and equity in China, at a seminar organized by the Department of Economics, School of Oriental and African Studies, University of London, 4 December. And he attended the workshop, Sustainable Disaster Databases for South and Southeast Asia, organized by the Centre for Research on the Epidemiology of Disasters, Global Facility for Disaster Reduction and Recovery, USAID and USL, in Hong Kong, China, 11 December. He also attended Kick-off Meeting on Disaster Risk Management in China, organized by CDRF, in Beijing, 13–14 December.

C. CAPACITY BUILDING AND TRAINING (CBT)

• Capacity Building Economist Ha-Yan Lee organized the CLMV project's training on Agricultural Productivity and Natural Resources' Management in Khon Kaen, Thailand, 11–15 December.

• CBT Specialist Anbumozhi Venkatachalam discussed with the Global Distance Learning Network on the forthcoming e-learning program on natural resource management.

D. OUTREACH

• Working papers published: WP 397: Historical Sources of Institutional Trajectories in

Economic Development: China, Japan, and Korea Compared by Masahiko Aoki

WP 398: Lifestyle Choices and Societal Behavior Changes as Local Climate Strategy by Brahmanand Mohanty, Martin Scherfler, Vikram Devatha

WP 399: Impact of Production Linkages on Industrial Upgrading in ASEAN, the People’s Republic of China, and India: Organizational Evidence of a Global Supply Chain by Tomohiro Machikita, Yasushi Ueki

• Two new posts were uploaded to Asia Pathways:

Confronting rising inequality in Asia Women helping women: key to economic growth in Asia

• United News of Bangladesh reported on the Developing Asia Journalism

Awards 2012 event; ADBI selects Dhaka Courier Managing Editor as Dev Asia Journo of Year.

III. FORTHCOMING EVENTS

• Inception Workshop on ADB/ADBI Flagship project “Connectivity in South and Southeast Asia, organized by ADB and ADBI, will be held at ADB, Manila, 17–18 December. Director of Research Ganeshan Wignaraja and Senior Consultant for Research Peter Morgan will attend.

• Director of Research Ganeshan Wignaraja will attend meetings with ADB staff on collaboration on new ADBI projects concerning cross-regional integration and the Future of World Trading System, at ADB Manila, 19 December.

Fortnightly Progress Report 17 December 2012 to 11 January 2013

I. HIGHLIGHTS

• The ADBI Three-year Rolling Work Program 2013–2015 and Budget 2013

was approved by the ADB Board of Directors on 17 December 2012. Dean Kawai, Deputy Dean Jae-Ha Park, and AMC Director Tsuyoshi Hyokai attended the board meeting.

• Currency Internationalization: Lessons and Prospects for the

Renminbi —Inception Meeting, was held at ADB, Manila, 10 January. Dean Kawai presented, via video link, the introduction of the project and, with Research Fellow Victor Pontines, presented the introduction on the emergence of an RMB bloc as a part of the project. Deputy Dean Jae-Ha Park and Research Fellow Victor Pontines moderated the meeting. Also, Mr. Pontines presented the general introduction on research proposal of other papers, TORs, and timelines.

II. DETAILED DIVISIONAL WORK PROGRESS

A. DEAN KAWAI

• Dean Kawai participated in an AEA/ACAES panel during the Allied Social

Science Associations meetings in San Diego, 4–6 January.

B. RESEARCH

• Inception workshop on ADB/ADBI flagship project, Connectivity in

South and Southeast Asia, jointly organized by ADB and ADBI, was held at ADB, Manila, 17–18 December 2012. Dean Kawai, Deputy Dean Jae-Ha Park, Director of Research Ganeshan Wignaraja, and Senior Consultant for Research Peter Morgan attended the workshop.

• Brown Bag Lunch Seminar: Emerging Economy Supply Shocks and Japan's Price Deflation: International Transmissions in a

Three-country DSGE Model, was held at ADBI, 20 December 2012.

• Disaster Risk Management in Asia and Pacific—Steering Committee Meeting was held at ADB, Manila, 11 January 2013. Dean Kawai presented, via video link, the introduction to the project. A steering committee meeting for the Connectivity in South and Southeast Asia project was also held on 11 January.

• Director of Research Ganeshan Wignaraja gave seminars on trade and RCI at Indian Council for Research and International Economic Relations (ICRIER) and at Research and Information System for Developing Countries Institute (RIS), on 8 January 2013 in New Delhi, India. And he gave the inaugural lecture at the 3rd Annual Conference of Indian Institute of Foreign Trade (IIFT) on 10 January 2013 in Kolkata, India.

• Director of Research Ganeshan Wignaraja gave an invited lecture on production networks and trade policy at Chulalongkorn University in Bangkok, Thailand, 11 January 2013.

• Director of Research Ganeshan Wignaraja attended meetings with ADB staff on collaboration on new ADBI projects on cross-regional integration and the Future of World Trading System, at ADB, Manila, 19 December 2012. He also chaired the Asia Production Networks session of the 3rd Annual Conference of Indian Institute of Foreign Trade in Kolkata, India, 10–11 January 2013.

C. CAPACITY BUILDING AND TRAINING (CBT)

• Managing Migration to Support Inclusive and Sustainable Growth,

copublished with OECD, was posted to the ADBI website, 11 January.

• CBT Director Yuqing Xing joined a teleconference with the staff of ORIE and ADB to discuss the joint training workshop on production network, 10 January.

• CBT Director Yuqing Xing and CBT Consultant Muhammad Cholifihani joined a teleconference on 8 January with OECD and ILO to finalize the program, The 3rd ADBI-OECD-ILO Roundtable on Labor Migration in Asia: Assessing Labor Market Requirements for Foreign Workers and Developing Policies for Regional Skills Mobility.

• CBT Specialist Anbumozhi Venkatachalam consulted with Tokyo Distance Learning Centre staff on 17 December on the forthcoming e-learning programs on natural resource management and microfinance.

D. OUTREACH

• Dean Kawai was interviewed by Business Times for the article; S'pore

may be a better model for Asia than Wall St: ADBI.

• Director of Research Ganeshan Wignaraja was interviewed by Live Mint for the article; India stands to gain in the Asian integration process. He was also cited in The Business Times Singapore article; Falling yen won't bring business back to Japan.

• Research Fellow Victor Pontines was cited in the Business Mirror article; ADB airs new tack on money issues

• Working paper published (No. 400):

The Persistence of Current Account Balances and its Determinants: The Implications for Global Rebalancing

• Asia Pathways posts published:

Urbanization can be good for the environment Internationalization of emerging market currencies: A way forward

III. FORTHCOMING EVENTS

• ADBI–PRI Joint Conference: Fiscal Reconstruction. Fiscal Rule or

Fiscal Crisis? Challenges to Fiscal Consolidation from a Global Perspective, will be held at ADBI on 17 January. Dean Kawai will present a joint paper with Senior Consultant for Research Peter Morgan on Long-term Issues for Fiscal Sustainability and Fiscal Monitoring in Other Asian Countries, and he will deliver closing remarks. Deputy Dean Jae-Ha Park will discuss the presented research papers on progress and prospects for future sustainability of fiscal policy.

• The Dean will speak at APEC 2014 Seminar by CNCPEC in Beijing, 26 January.

• CBT Director Yuqing Xing and CBT Consultant Muhammad Cholifihani will attend and organize the event, The 3rd ADBI-OECD-ILO Roundtable on Labor Migration in Asia: Assessing Labor Market Requirements for Foreign Workers and Developing Policies for Regional Skills Mobility, to be held in Bangkok, 23–25 January.