Workshop on Macroeconomic Modelling in Asia and the Pacific
The 193 member States of the United Nations has adopted a transformative 2030 Agenda for Sustainable Development with a set of sustainable development goals at the seventieth session of the General Assembly in September 2015. ESCAP has also initiated a process to support member States set up a formal models necessary to integrate the three dimensions of sustainable development and understand the linkages and impacts of policies through workshops and training programmes. The economies of the Asia-Pacific region are uniquely placed to implement a transformative development agenda beyond 2015. However, there have been several external economic and financial shocks that require careful policy intervention. In particular, due to these linkages with other regions, smaller economies in the region continue to face with heightened policy uncertainty. This requires, among others, a more calibrated approach towards better understanding of policies and information set. The macroeconomic model could enable policymakers to appropriately assess the short-to-medium term economic perspectives and their policy implications. This will help indeed guide macroeconomic policy management and responses, which can further support an integrated modelling approaches to sustainable development.
The workshop will provide opportunities to the policymakers from the member States, especially from the Countries with Special Needs, such as the least developed countries (LDCs) to learn about the current state of art progress in making national level macroeconomic monitoring, forecasts and policy simulation. This workshop-cum-training meeting will be, among others, one of the initial ESCAP plans for the implementation of the 2030 Agenda for Sustainable Development at the regional and national levels.
The objective of this workshop-cum-training meeting is to:
- provide a peer learning platform for policy makers from developing countries of Asia and the Pacific to exchange knowledge and shared experience on building macroeconomic monitoring and forecasting analysis and methodological tools;
- enhance understanding and provide training to policymakers for management of macroeconomic and financial indicators for increasing their technical capacity;
- support a group of member States, especially the LDCs, in setting up annual and/or high-frequency national macroeconomic forecasting models; and
- facilitate regional dialogue on setting up a modelling framework for the integration of economic, social and environmental pillars of the 2030 Agenda for Sustainable Development.
The workshop will be an important opportunity to discuss the plan to establish a network of experts to enhance regional collaboration on creating a modelling framework for the implementation of the 2030 Agenda for Sustainable Development in Asia and the Pacific region.