Macroeconomic Policy and Financing for Development

About

ESCAP analyzes economic conditions and promotes use of macroeconomic and structural policies that support economic growth and encourage productive employment, while maintaining macroeconomic stability. It encourages the quality aspect of economic growth and highlights the need to consider the distributional consequences of development policies.

ESCAP emphasizes the essential role of Financing for Development for the implementation of the 2030 Agenda for Sustainable Development. The priorities identified in this area include: strengthening domestic resources mobilization, including through tax cooperation and public expenditure management; enhancing quality infrastructure investment taking into account all aspects of economic, social and environmental sustainability; and increasing the effectiveness of financial markets in supporting sustainable development.

ESCAP also provides support to the least developed countries (LDCs), landlocked developing countries (LLDCs), and small island developing States (SIDS) through the regional implementation of the Istanbul Programme of Action for the LDCs, Vienna Programme of Action for the LLDCs, and SAMOA Pathway for the SIDS, in close collaboration with other United Nations agencies, regional development partners and national institutions.

ESCAP supports regional cooperation and integration as a strategy for narrowing development gaps among member States. To provide evidence-based policy analysis, ESCAP conducts research and produces regular publications such as the Economic and Social Survey of Asia and the Pacific and the Asia-Pacific Countries with Special Needs Development Report. It also provides capacity building support to its member States and facilitates policy dialogues.

Macroeconomic Monitoring and Assessment

The global financial and economic crisis, which started in 2008 and continues to cast its shadow on economic outcomes across the globe, coupled with unconventional policies being pursued in advanced economies has highlighted the importance of having effective, timely, and relevant monitoring and assessment of key macroeconomic developments.

Financing for Development

The Addis Ababa Action Agenda (AAAA) adopted at the Third International Conference on Financing for Development in July 2015 provides a comprehensive and integrated framework for financing sustainable development, and thus supporting the implementation of the 2030 Agenda for Sustainable Development.

Infrastructure Financing and Public-Private Partnerships

Infrastructure development is central to the 2030 Agenda for Sustainable Development with at least 12 out of the 17 Sustainable Development Goals (SDGs) having a direct link to infrastructure.

Countries With Special Needs

The group of 36 economies with special needs in Asia and the Pacific is comprised of least developed countries (LDCs), landlocked developing countries (LLDCs) and small island developing States (SIDS).

Regional Economic Cooperation and Integration

ESCAP supports the strategy that deepening economic integration and cooperation in the region could be mutually beneficial to all countries and instrumental in the achievement of key developmental goals.

Support to Sustainable Development Goals

The Sustainable Development Goals (SDGs) have galvanized political support for global efforts to end poverty, reduce inequalities and take action to mitigate climate change to ensure prosperity for all.