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Macroeconomic Policy Coherence for SDG 2030: Evidence from Asia Pacific

Lekha cHAKRABORTY

Working Papers from National Institute of Public Finance and Policy

Abstract: The paper analyses the macroeconomic policy coherence required for sustainable development goals (SDGs) in the context of Asia Pacific region. Specifically, the paper analyses the monetary, fiscal and structural policy reforms and suggest specific policy tools to integrate SDGs in macroeconomic policies. The analysis reveals that the transition of macroeconomic framework from `discretion' to `controlled discretion' and `rules' acts as a constraint to integrate SDGs into the policy framework. In the region, the monetary policy is increasingly focusing on inflation targeting, while the fiscal policy is based on the threshold rules of fiscal deficit-GDP ratio. Within these constraints of the macroeconomic framework, a few countries in the region have identified specific policy tools to integrate SDGs within a `beyond GDP paradigm'- in particular using the tools of accountability like gender budgeting, the climate responsive budgeting and the strategies for financial inclusion.

Keywords: SDG; Macroeconomic policy coherence; Asia Pacific (search for similar items in EconPapers)
Pages: 52
Date: 2020-01
New Economics Papers: this item is included in nep-env, nep-mac and nep-sea
Note: Working Paper 292, 2020
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