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Asia-Pacific
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2011
 
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Implementing the Monterrey Consensus in the Asian and Pacific Region: Achieving Coherence and Consistency


Author(s): Macroeconomic Policy and Development Division (MPDD)
Economic Sector(s): (1) Global, regional and multisectoral economic and social development strategies and policies; (2) Monetary and financial issues and policies
ESCAP Reference No.: ST/ESCAP/2351
Division/Office: Macroeconomic Policy and Development
Published Date: April 2005
Country: {Non-country Specific Publication}
Hard Copy Price: N/A


This study takes stock of the progress made by Asian and Pacific countries in implementing the six areas of action set out in the Monterrey Consensus of the International Conference on Financing for Development. These include mobilizing domestic and international resources, international trade, financial and technical cooperation,external debt and systemic issues in the region’s monetary, financial and trading systems. The study examines whether these systems are sufficient to maintain the region’s competitiveness, lays out policy options for the region’s Governments and proposes a number of actions to address gaps in both policy and financing.




Front cover

Foreword

Acknowledgements

Contents

Abbreviations

Executive Summary

I. Implementing the Monterrey Consensus: achieving coherence and consistency

II. Mobilizing domestic resources for development

Introduction
A. Performance of investments
B. Behaviour of savings
C. Generating government tax revenues
D. Some important issues surrounding the mobilization of domestic resources for development
E. The way forward: achieving coherence and consistency in domestic resource mobilization initiatives

III. Mobilizing international resources for development:foreign direct investment and other private flows

Introduction
A. FDI and other private capital flows
B. An enabling environment for attracting investment
C. Corporate social responsibility
D. The way forward for increasing FDI and other private flows
E. The role of ESCAP

IV. International trade as an engine of development

Introduction
A. Trade as the major source of financing for development:a situational analysis
B. Improving market access: unfinished business
C. ODA as a source of financing for trade capacity-building
D. Financial adjustment packages
E. The evolving regional trading panorama
F. The way forward
G. Conclusion

V. The role of official development assistance

Introduction
A. Trends and patterns of ODA flows to Asia and the Pacific
B. Issues and challenges
C. The way forward

VI. External debt and sustainable debt management

Introduction
A. Recent trend in external debt
B. Responses to external debt problems
C. External debt management issues
D. Policy recommendations

VII. Addressing systemic issues and regional responses

Introduction
A.The issues
B. Reforming the international financial architecture: the role of liquidity, policy coordination and debt workouts
C. Regional responses for crisis prevention
D. Tackling imbalances: achieving coherence and consistency between monetary, financial and trading systems in the region

VIII. Promoting regional integration

Introduction
A. Selected highlights of the study’s findings
B. The way forward: two proposals for consideration

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