ADBI series on Asian Economic Integration and Cooperation
Edited by Douglas H. Brooks and Jayant Menon
Asia’s remarkable rapid growth in recent decades, and the resulting poverty reduction throughout the region, has been underpinned by increasing economic integration. Goods, services, ﬁnancial ﬂows, and ideas now cross borders throughout the region in quantities and values that were inconceivable ﬁfty years ago. The Asian Development Bank (ADB) and its subsidiary for research and capacity-building, ADB Institute (ADBI), contribute to the region’s growth and poverty reduction, and to greater understanding of the processes and policy implications of alternative development paths. The rapid growth in the region’s international trade has largely been the result of private sector initiatives, and private sector development is a strategic priority of ADBI. To both facilitate and enhance the beneﬁts of resulting growth and economic integration, countries in Asia and the Paciﬁc have undertaken massive investments in infrastructure. The international fragmentation of production processes and supply chains has spurred both the surge in intra-regional trade and greater regional cooperation. Similarly, increased regional co-operation has led to greater infrastructure investment and economic integration, leading to a virtuous cycle of investment, trade and co-operation. It is in this regional context of rising trade, infrastructure investment, integration and co-operation that this volume makes its contribution. Chapters explore important concepts relating infrastructure and trade, and measurement issues are carefully discussed. Cross-border infrastructure projects are seen to raise particular challenges in planning and implementation. Since the distributions of costs and beneﬁts are rarely perfectly correlated, a co-operative framework becomes critical for undertaking such activities. The chapters in...