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Harnessing Digitalization for Sustainable Economic Development

Insights for Asia

25.01.2022 by SEA-VET Admin SEAVET ADMIN

John Beirne, David G Fernandez

Asian Development Bank (ADB)

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Asian Development Bank (2021) - Harnessing Digitalization for Sustainable Economic Development: Insights for Asia describes digitalization’s role in raising the productive capacities of economies. It examines how digital transformation can enhance trade, financial inclusion, and firm competitiveness, as well as how greater digital infrastructure investment, internet connectivity, and financial and digital education in the region can maximize digitalization’s economic benefits. It also explains the importance of striking the right balance between the regulation and supervision of financial technology to enable innovation and safeguarding financial stability and consumer protection.

Part I of the book seeks to build an understanding of digitalization’s effects on macroeconomic performance, including through trade channels and financial inclusion. Part II examines automation and the impact advancements in digital technology can have on firms via technology spillovers and the labor market. Finally, Part III highlights onward policy challenges for achieving sustainable and inclusive economic development outcomes amid accelerating technological change and demand for a more digitalized economy.