Asian development outlook 2013: Asia’s energy challenge

Asian development outlook 2013: Asia’s energy challenge

The Asian Development Outlook 2013 provides a comprehensive economic analysis at both regional- and country-levels. It begins by outlining the economic status of the region before examining the goals, challenges and strategies of stakeholders with regard to present and future energy demand and supply. Finally it profiles the economic trends and prospects of over 30 countries.

Part one of the report paints a picture of growing momentum in the region amidst difficult economic times. The entire region on average is experiencing an upturn from 2012, an acceleration expected to continue for the next two years through increased domestic consumption and recovering export markets. However, anticipated growth rates vary by sub-region. Regional integration through trade agreements are encouraged to provide resilience in the face of growing exposure to unpredictable global events. Macroeconomic policy is discussed in the context of maintaining stability, as is the management of capital flows under quantitative easing and the development of Asia’s rising demand for commodities.

Part two of the paper examines the challenge ahead as Asia attempts to secure sufficient energy to continue driving economic growth for decades to come. Increased energy demand will need to be constrained through efforts to improve energy efficiency by investing in new technology (including techniques to make existing carbon use cleaner) and replacing wasteful subsidies with policies that specifically target the poor for assistance. Investment in science education and infrastructure are required for energy development and, with climate change and the environment in mind, plans for additional capacity should focus on sustainable, clean energy.

The majority of the report consists of individual country assessments, each broken down into three sections: economic performance, economic prospects and the countries’ major development challenge. Analysis drills-down to a sector-by-sector scale and empirical data is provided, covering a range of criteria including GDP, trade, prices and investment levels.

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