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1、REGIONAL PUBLIC GOODS IN ASIA AND EUROPEJANUARY 2021ASIAN DEVELOPMENT BANKREGIONAL PUBLIC GOODS IN ASIA AND EUROPEJANUARY 2021ASIAN DEVELOPMENT BANKCreative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) 2021 Asian Development Bank6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, PhilippinesTe
2、l +63 2 8632 4444; Fax +63 2 8636 2444www.adb.orgSome rights reserved. Published in 2021.ISBN 978-92-9262-668-6 (print); 978-92-9262-669-3 (electronic); 978-92-9262-670-9 (ebook)Publication Stock No. TCS210010-2DOI: http:/dx.doi.org/10.22617/TCS210010-2The views expressed in this publication are tho
3、se of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent.ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of th
4、eir use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned.By making any designation of or reference to a particular territory or geographic area, or by using t
5、he term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) https:/creativecommons.org/licenses/by/3.0/igo/. By using the content o
6、f this publication, you agree to be bound by the terms of this license. For attribution, translations, adaptations, and permissions, please read the provisions and terms of use at https:/www.adb.org/terms-use#openaccess.This CC license does not apply to non-ADB copyright materials in this publicatio
7、n. If the material is attributed to another source, please contact the copyright owner or publisher of that source for permission to reproduce it. ADB cannot be held liable for any claims that arise as a result of your use of the material.Please contact pubsmarketingadb.org if you have questions or
8、comments with respect to content, or if you wish to obtain copyright permission for your intended use that does not fall within these terms, or for permission to use the ADB logo.Corrigenda to ADB publications may be found at http:/www.adb.org/publications/corrigenda.Notes:In this publication, “$” r
9、efers to the United States dollar and “” to the euro.ADB recognizes “Saigon” as Ho Chi Minh City.Cover design by Michael Cortes.ContentsTables and FiguresivForewordvAcknowledgmentsviExecutive Summaryvii1.Introduction12.Fundamentals of Regional Public Goods3Concepts of Regional Public Goods3Market Fa
10、ilures6Aggregation Technologies6The Subsidiarity Principle93.Case Studies in Asia11Early Warnings of Disasters11Regional Fisheries Management14Malaria Control and Elimination16Cooperative Management of the Mekong River Basin184.Case Studies in Europe22Financial Stability in the European Union22Integ
11、rated Energy Market25Mitigating Overpricing in International Mobile Roaming285.Comparative Analysis of Europe and Asia31Malaria Elimination31Energy Market Integration33Regional Financial Stability346.Conclusions37Background Papers39References39ivTables and FiguresTables1Classification of Goods32Sele
12、cted Aggregator TechnologiesCharacteristics and Recommendations83Supporting and Detracting Factors for Regional Subsidiarity Factors104Indian Ocean Tsunami Early Warning System, 2004 and 2014125Malaria Risk in Asia and the Pacific, 2010 and 2016186International River Basins in Asia197Road to Currenc
13、y Unification238Selected Milestones of Financial Regulation Reform in Europe249Categorization of Potential Benefits from a Single Energy Market27Figures1Classes of Public Goods42Overview of the Regional Public Good Provision Process53Placement of Indian Ocean Tsunami Detection Equipment, 2004 and 20
14、14134High-Seas Areas Closed to Fishing by the Parties to Nauru Agreement155The Road Toward the Third European Union Energy Package266European Union Energy Projects of Common Interest277Cash Flows in International Mobile Roaming288Average Wholesale Price per minute for Wholesale Roaming Voice Calls30
15、and Data per MegabytevForewordUnder the ongoing coronavirus disease (COVID-19) pandemic, regional public goods are gaining even greater importance as greater internationalization of economic activities creates cross-border spillovers. When nations engage together in the production and provision of p
16、ublic goods, they generate advances and efficiencies that transcend national interests and help end chronic undersupply of solutions to shared regional problems. For example, in health, a disease outbreak underscores the value of regional public goods such as regional surveillance and control of inf
17、ectious diseases, and ultimately the importance of elimination in vulnerable countries. Financial contagion transmitted from other countries and regions underlines the value of financial stability and efforts to safeguard it as a regional public good. Agreement among regional groupings to promote mo
18、re open trade can be also considered a regional public good, while cross-border infrastructure developments such as energy or transport connectivity acknowledge the regional benefits of lowering trade costs among neighboring countries.This study discusses the theory and policy implementation of regi
19、onal public goods with useful case studies in Europe and Asia. In a regional setting, eliciting contributions toward collective action in the absence of a transnational authority can be a struggle, or it is often difficult in practice to clearly delineate the boundaries of benefits shared among nati
20、ons. The case studies highlight how various regional arrangements can be formed to arrive at a functional, if not optimal, provision of regional public goods. Moreover, spillover benefits or costs that cross borders also influence how regional cooperation can be shaped to make the production and pro
21、vision of regional public goods more effective.Regional public goods are one of the main pillars of the operational priority of the Asian Development Bank (ADB) on regional cooperation and integration under its Strategy 2030. The banks role in cultivating the provision of regional public goods refle
22、cts its function in facilitating connectivity, trade, investment, finance, knowledge, and partnerships across the region. ADB supports regional initiatives toward regional health security, macroeconomic policy coordination and preventing financial contagion, cross-border soft and hard infrastructure
23、, and climate change mitigation and adaptation.In focusing on some of the research on how appropriate regional settings can promote collective action for regional public goods to solve pressing issues effectively and efficiently, this publication may help to highlight advances in an important part o
24、f the development agenda shared by multiple countries. It can also help policy makers learn about different ways in which the provision of regional public goods can be realized, and how knowledge and measurement of spillover benefits can serve to incentivize greater regional cooperation.Yasuyuki Saw
25、adaChief Economist and Director GeneralEconomic Research and Regional Cooperation DepartmentAsian Development BankviAcknowledgmentsThis publication was prepared by the Regional Cooperation and Integration Division (ERCI) of the Economic Research and Regional Cooperation Department (ERCD) of the Asia
26、n Development Bank (ADB), with support from Technical Assistance 9210: Enhancing Research Alliance and SouthSouth Development Policy Cooperation Between Asia and the Pacific and Latin America.The main authors of the report are Junkyu Lee, chief of Finance Sector Group Finance Sector Group of the Sus
27、tainable Development and Climate Change Department, Kijin Kim, economist, ERCI/ ERCD, Benjamin Endriga, Mikko Diaz, and Alyssa Villanueva. This report has greatly benefited from the guidance and comments from Cyn-Young Park, director of ERCI.Background papers were provided by Todd Sandler, Scott Bar
28、rett, Guntram Wolff, Gustav Fredriksson, Scott Marcus, Silvia Merle, and Simone Tagliapietra.Kijin Kim and Paulo Rodelio Halili coordinated the production of this report.James Unwin edited the report. Michael Cortes created the cover design and implemented the typesetting and layout. Lawrence Casira
29、ya proofread the report, while Jess Macasaet handled the page proof checking. Carol Ongchangco, Marilyn Parra, and Maria Criselda Aherrera provided administrative support. The Printing Services Unit of ADBs Office of Administrative Services and the Publishing Team of the Department of Communications
30、 supported printing and publishing.viiExecutive SummaryGlobalization and the opening up of economies have led to greater transnational movement of commodities and factors of production. This has fostered many kinds of spillovers across borders. Some, including technology and skills transfer, are wel
31、come, while others are negative impacts such as disease outbreaks, financial contagion, natural disasters, challenges of managing common resources, and others. Such development challenges are of a scale and complexity that are best dealt with through international responses. Their transnational natu
32、re has increased demand for regional public goods (RPGs).By definition, RPGs produce public benefits that extend beyond a countrys borders but are limited to a subset of the world. Just like typical (domestic) public goods, they are characterized by varying degrees of nonexcludability and nonrivalry
33、. Nonexcludability refers to it being costly to prevent nonpaying parties from consuming a goods benefits, while nonrivalry implies that consumption can be extended to another user at no increase in spending (zero marginal cost). This gives rise to the “free-rider” problem of who pays for provision.
34、 In a national setting, governments can easily tax citizens to provide these goods. In a regional context, the absence of a supranational entity makes this difficulta basic problem of achieving collective action for RPGs. Therefore, a third property of RPGs is so-called aggregation technology, or ho
35、w various arrangements can be formed to elicit collective responses. For “best-shot” public goods, for instance, the largest contribution determines the available level. A case in point is vaccines, which are usually best developed by technologically advanced countries who pass on the innovation to
36、other nations. For “weakest-link” public goods, the smallest contribution determines the appropriate level of the good. Disease outbreaks are most likely to occur in countries with the poorest disease-controlling capacity. In this case, policy intervention would be most efficient when directed to vu
37、lnerable economies in need of funding and capacity building. A fourth property of RPGs is the scope of their benefits. Whereas the benefits of national and global public goods are more easily determined, this is more challenging for RPGs because the beneficiary and providers may not be always the sa
38、me. On the other hand, the presence of fewer parties than for global public goods can smooth the path to reaching agreement.Case studies for Asia and Europe are instructive on how various arrangements are formed to tackle regional development challenges, including the role of regional institutions.
39、In Asia, the Boxing Day Tsunami in 2004 that killed over 230,000 people and affected multiple countries eventually led to a regional approach in adopting an early warning system for disasters. The system adopted a best- shot approach in investing in monitoring equipment, led by the more advanced cou
40、ntries around the Indian Ocean. A key challenge was in maintaining the system for natural hazards such as tsunamis that rarely occur. Besides the RPGs of detection and warning, the national public good of rescue and evacuation is also needed to help communities at risk.viii Regional Public Goods in
41、Asia and EuropeA second case study on preventing overfishing of tuna in the Pacific Ocean highlights the need to monitor the locations of fishing vessels and limiting their time at sea. This proved a second-best approach as monitoring their harvests was too costly. The third case features the seriou
42、s health risk posed by malaria in Asia, and highlights that control or reducing its incidence is a national public good, while its elimination to zero cases can be both a national and a regional public good. It can also mitigate the spread of the disease globally, especially to sub-Saharan Africa. R
43、egional institutions like Asian Development Bank (ADB) have provided resources toward a trust fund to combat the disease. The latest example of health-related RPG is ADBs Greater Mekong Subregion (GMS) Health Security Project for the GMS countries to address health threats from the coronavirus disea
44、se (COVID-19) pandemic. Similarly, the case on cooperative management of the Mekong River Basin suggests that the ADB-led GMS Economic Cooperation Program can provide a forum for addressing conflicting uses by different countries.The first European case study discusses how the goal of exchange rate
45、stability led to the push toward monetary integration by the European Union (EU). Periodic financial crises led to the creation of supranational institutions to safeguard financial integration and enhance macroeconomic and financial stability. The second case study discusses energy market integratio
46、n to improve access and secure supplies. This has resulted in common legislation to liberalize markets and harmonize regulations, and funding mechanisms that support infrastructure in the region. The third case study on mitigating overpricing in international mobile roaming shows that a regional app
47、roach was needed since no national regulator could address issues in both home and visited networks.A comparative analysis of RPG provision in the two regions suggests some lessons for Asia. In the successful drive toward malaria elimination in Eastern Europe and Central Asia, World Health Organization (WHO) Europe adopted a regional approach to employing de