Asian Economic Policy Review

2006 - 2026

Current editor(s): Takatoshi Ito, Akira Kojima, Colin McKenzie and Shujiro Urata

From Japan Center for Economic Research
Contact information at EDIRC.
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Volume 21, issue 2, 2026

Connectivity and Economic Reconfiguration in Asia: Editors' Overview pp. 105-113

Kazumasa Iwata, Jong‐Wha Lee, Colin McKenzie, Yasuyuki Sawada and Shujiro Urata

Discriminatory Tariffs, Trade Diversion, and the Economic Impacts of Recent U.S. Trade Policy pp. 114-128

Satoru Kumagai

Comment on “Discriminatory Tariffs, Trade Diversion, and the Economic Impacts of Recent U.S. Trade Policy” pp. 129-130

Yusuke Kuroishi

Comment on “Discriminatory Tariffs, Trade Diversion, and the Economic Impacts of Recent U.S. Trade Policy” pp. 131-132

Ayako Obashi

Trade and FDI Policies in an Interdependent World: Lessons From East Asia pp. 133-142

Cheng Chen, Zhang Chen and Chang Sun

Comment on “Trade and FDI Policies in an Interdependent World: Lessons From East Asia” pp. 143-144

Takafumi Kawakubo

Comment on “Trade and FDI Policies in an Interdependent World: Lessons From East Asia” pp. 145-146

Akira Sasahara

Supply Chain Diversification and Industrial Policies to Strengthen Economic Security pp. 147-160

Yasuyuki Todo

Comment on “Supply Chain Diversification and Industrial Policies to Strengthen Economic Security” pp. 161-162

Cassey Lee

Comment on “Supply Chain Diversification and Industrial Policies to Strengthen Economic Security” pp. 163-164

Keiko Ito

Connectivity Gains From Regional Integration in the Greater Mekong Subregion pp. 165-179

Yesim Elhan‐Kayalar, Konstantin Kucheryavyy, Manabu Nose, Yasuyuki Sawada and Ruo Shangguan

Comment on “Connectivity Gains From Regional Integration in the Greater Mekong Subregion” pp. 180-181

Shujiro Urata

Comment on “Connectivity Gains From Regional Integration in the Greater Mekong Subregion” pp. 182-183

Lianming Zhu

Infrastructure, Connectivity, and Regional Development: Evidence From a Spatial CGE Model of the North–South Commuter Railway pp. 184-199

Julia Bird, Liming Chen, Arturo Corpuz, Eugenia Go, Rana Hasan and Yi Jiang

Comment on “Infrastructure, Connectivity, and Regional Development: Evidence From a Spatial CGE Model of the North–South Commuter Railway” pp. 200-201

Mizuki Kawabata

Comment on ‘Infrastructure, Connectivity, and Regional Development: Evidence From a Spatial CGE Model of the North–South Commuter Railway’ pp. 202-203

Kentaro Nakajima

Construction and Opening Effects of a Large‐Scale Bridge Project on Real Estate Prices: Evidence From the Mumbai Trans Harbour Link pp. 204-218

Hana Ashida, Tetsuya Harada, Fumiaki Ishizuka, Kentaro Nakajima, Yasuyuki Sawada and Annie Srivastava

Comment on “Construction and Opening Effects of a Large‐Scale Bridge Project on Real Estate Prices: Evidence From the Mumbai Trans Harbor Link” pp. 219-220

Mari Tanaka

Comment on “Construction and Opening Effects of a Large‐Scale Bridge Project on Real Estate Prices: Evidence From the Mumbai Trans‐Harbor Link” pp. 221-222

Manabu Nose

Volume 21, issue 1, 2026

Professor Takatoshi Ito pp. 2-4

Kazumasa Iwata, Colin McKenzie and Shujiro Urata

Sustainable Finance in Asia: Editors' Overview pp. 5-13

Caroline Flammer, Takatoshi Ito, Kazumasa Iwata, Colin McKenzie and Shujiro Urata

Sustainable Finance: Tools, Effectiveness, and Challenges pp. 14-19

Caroline Flammer

Comment on “Sustainable Finance: Tools, Effectiveness, and Challenges” pp. 20-21

Ayako Yasuda

Comment on “Sustainable Finance: Tools, Effectiveness, and Challenges” pp. 22-23

Lloyd Kurtz

Inclusive Wealth and ESG Practices: Financial Impacts in a Global Context pp. 24-38

Jun Xie, Kenichi Yoshida, Shuning Chen, Alexander Ryota Keeley, Hidemichi Fujii and Shunsuke Managi

Comment on “Inclusive Wealth and ESG Practices: Financial Impacts in a Global Context” pp. 39-40

Yuxia Zou

Comment on “Inclusive Wealth and ESG Practices: Financial Impacts in a Global Context” pp. 41-42

Xiaoyun Yu

The Effects of Financing Green and Brown Sectors: What Do Theories and Evidence Say? pp. 43-52

Hao Liang and Maria Teresa Punzi

Comment on “The Effects of Financing Green and Brown Sectors: What Do Theories and Evidence Say?” pp. 53-54

Qifei Zhu

Comment on “The Effects of Financing Green and Brown Sectors: What Do Theories and Empirical Evidence Say?” pp. 55-56

Olivier‐David Zerbib

How Sovereign Sustainable Bond Issuance Shakes Up the Corporate Sustainable Bond Market?: Evidence From Asian Markets pp. 57-67

Seiwan Kim, Resi Ong Olivares, Donghyun Park, Shu (Grace) Tian and Sunjoo Yang

Comment on “How Sovereign Sustainable Bond Issuance Shakes up the Corporate Sustainable Bond Market?: Evidence From Asian Markets” pp. 68-69

Haruyoshi Ito

Comment on “How Sovereign Sustainable Bond Issuance Shakes Up the Corporate Sustainable Bond Market?: Evidence From Asian Markets” pp. 70-71

Irene Monasterolo

Beyond Green: Impacts of Green Bond Issuance on Conventional Bonds in China pp. 72-82

Xintong Zhan, Junting Liu, Jie Cao, Ruijing Yang and Linyu Zhou

Comment on “Beyond Green: Impacts of Green Bond Issuance on Conventional Bonds in China” pp. 83-84

Naoyuki Yoshino

Comment on “Beyond Green: Impacts of Green Bond Issuance on Conventional Bonds in China” pp. 85-86

Konari Uchida

Green Human Capital and Carbon Emissions of Asian Firms pp. 87-97

Li Fangyuan, Zhang Weiming and Zhang Yaojia

Comment on “Green Human Capital and Carbon Emissions of Asian Firms” pp. 98-99

Charika Channuntapipat

Comment on “Green Human Capital and Carbon Emissions of Asian Firms” pp. 100-101

Zigan Wang

Volume 20, issue 2, 2025

The Normalization of Japan: Editors' Overview pp. 177-186

Takatoshi Ito, Kazumasa Iwata, Colin McKenzie and Shujiro Urata

Understanding the Normalization of the Japanese Economy pp. 187-202

Takatoshi Ito

Comment on “Understanding the Normalization of the Japanese Economy” pp. 203-204

Tomoko Hayashi

Comment on “Understanding the Normalization of the Japanese Economy” pp. 205-206

Kazumasa Iwata

The Evolution of Inflation Expectations in Japan pp. 207-217

Shin‐ichi Fukuda and Naoto Soma

Comment on “The Evolution of Inflation Expectations in Japan” pp. 218-219

Tsutomu Watanabe

Comment on “The Evolution of Inflation Expectations in Japan” pp. 220-221

Ippei Fujiwara

Fiscal Projections and Debt Sustainability in Japan pp. 222-232

Mitsuru Katagiri, Junko Koeda, Hiroaki Miyamoto, Makoto Nirei and Takashi Unayama

Comment on “Fiscal Projections and Debt Sustainability in Japan” pp. 233-234

Etsuro Shioji

Comment on “Fiscal Projections and Debt Sustainability in Japan” pp. 235-236

Motohiro Sato

The Normalization of Wage Dynamics pp. 237-246

Takeo Hoshi and Anil K. Kashyap

Comment on “The Normalization of Wage Dynamics” pp. 247-248

Daiji Kawaguchi

Comment on “the Normalization of Wage Dynamics” pp. 249-250

Emiko Usui

Japan's Aging Workforce: Determinants and Outlook pp. 251-260

Sagiri Kitao and Nozomi Takeda

Comment on “Japan’s Aging Workforce: Determinants and Outlook” pp. 261-262

Naohito Abe

Comment on “Japan's Aging Workforce: Determinants and Outlook” pp. 263-264

Jong‐Wha Lee

Economic Security and New Industrial Policy pp. 265-275

Shiro Armstrong, Mireya Solís and Shujiro Urata

Comment on “Economic Security and New Industrial Policy” pp. 276-277

Arata Kuno

Comment on “Economic Security and New Industrial Policy” pp. 278-279

Somkiat Tangkitvanich

Volume 20, issue 1, 2025

Dr Chalongphob Sussangkarn pp. 1-1

Takatoshi Ito, Kazumasa Iwata, Colin McKenzie and Shujiro Urata

South Asia: Editors' Overview pp. 2-26

Hal Hill, Takatoshi Ito, Kazumasa Iwata, Colin McKenzie and Shujiro Urata

South Asia's Conundrum: Turning Potential into Sustained Progress pp. 27-51

Sanjay Kathuria

Comments on “South Asia's Conundrum: Turning Potential into Sustained Progress” pp. 52-54

Junaid K. Ahmad

Comment on “South Asia's Conundrum: Turning Potential into Sustained Progress” pp. 55-56

Arvind Subramanian

Export Diversification in Bangladesh: Overcoming Policy Impediments pp. 57-75

Edimon Ginting, Mohammad Razzaque and Rana Hasan

Comment on “Export Diversification in Bangladesh: Overcoming Policy Impediments” pp. 76-78

Asad Islam

Comment on “Export Diversification in Bangladesh: Overcoming Policy Impediments” pp. 79-80

Fahmida Khatun

Indian Economy: Performance, Policies, Politics, and Prospects and Challenges pp. 81-96

Arvind Panagariya

Comment on “Indian Economy: Performance, Policies, Politics, and Prospects and Challenges” pp. 97-99

Devesh Kapur

Comment on “Indian Economy: Performance, Policies, Politics, Prospects and Challenges” pp. 100-102

Gaurav Datt

Recent Developments in Indian Central Banking: Flying through Turbulence but Aided by Some Tailwinds pp. 103-123

Partha Ray and Rakesh Mohan

Comment on “Recent Developments in Indian Central Banking: Flying through Turbulence but Aided by Some Tailwinds” pp. 124-125

Viral V. Acharya

Comment on “Recent Developments in Indian Central Banking: Flying through Turbulence but Aided by Some Tailwinds” pp. 126-127

Poonam Gupta

Pakistan's Economy: Fallout of 2022 Economic Distress Magnified the Need for Structural Reforms pp. 128-146

Pierre van der Eng

Comment on “Pakistan's Economy: Fallout of 2022 Economic Distress Magnified the Need for Structural Reforms” pp. 147-148

Takashi Kurosaki

Comment on “Pakistan's Economy: Fallout of 2022 Economic Distress Magnified the Need for Structural Reforms” pp. 149-150

Farrukh Iqbal

The Sri Lankan Economy: From Optimism to Debt Trap pp. 151-171

Prema‐chandra Athukorala

Comment on “The Sri Lankan Economy: From Optimism to Debt Trap” pp. 172-173

Shantayanan Devarajan

Comment on “The Sri Lankan Economy: From Optimism to Debt Trap” pp. 174-175

M. Chatib Basri