Call for Papers on Green Infrastructure Development in Asia: Investment, Financing and Economic Impacts
Green Infrastructure Development in Asia: Investment, Financing and Economic Impacts
Asian Development Bank Institute (ADBI), Southwestern University of Finance and Economics (SWUFE), Waseda University, and International Review of Economics and Finance (IREF)
14 November 2019
The developing world has the largest demand for infrastructure investment. Asia in particular will require $26 trillion in climate-adjusted infrastructure investment through 2030 to ensure economic growth, eradicate poverty, and mitigate climate change. Of this total estimate, $14.7 trillion will be needed to meet demand for power, $8.4 trillion for transport, $2.3 trillion for telecommunications, and $800 billion for water and sanitation.
Statistics from the World Bank’s World Development Indicators database show that two-thirds of Asia’s electricity was generated from coal-fired power plants in 2013. This poses significant local and global environmental challenges. Although some countries have taken action to address these challenges, considerable investment will be needed in the short to medium-term to make the energy sector greener by reducing emissions and transitioning to renewable energy.
Multilateral development banks such as the Asian Development Bank, Asian Infrastructure Investment Bank, and World Bank are actively working to finance green infrastructure by raising long-term funds from capital markets at prevailing low interest rates and lending the money to governments and public-private investment entities. This approach is not enough to fill the huge financing gap for green infrastructure in Asia. Boosting private investment in green infrastructure projects is vital. One way is through fiscal policy, including returning to investors some portion of the increase in tax revenue resulting from the spillover effects of privately funded green infrastructure.
Against this backdrop, ADBI, SWUFE and Waseda University are seeking original research papers on investment, financing, and economic impacts of green infrastructure development in Asian economies for inclusion in a special journal issue of International Review of Economics and Finance.
Papers should feature sound theoretical backgrounds and solid quantitative analysis, and may deal with, but are not be limited to, the following themes:
- Financial challenges for development of green infrastructure
- Measuring risks associated with green infrastructure
- Measuring economic impacts of green infrastructure
- Institutional investors and long-term investment in green infrastructure
- Utilizing spillover effects for increasing the rate of return of green infrastructure
- Role of fiscal policy in increasing the rate of return of green infrastructure
- Financial innovations in green infrastructure development
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