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Many scholars would agree that the international status of Hong Kong is one of the crucial factors that contribute to the continued success of Hong Kong. However, few of them explain the origin of Hong Kong’s international status. The purpose of this paper is to fill this literature gap through the case study of Hong Kong’s admission to an international organization – the Asian Development Bank (ADB) – in the late 1960s.

Based on declassified archives, a historical approach has been adopted to trace the origin of Hong Kong’s international status.

The findings suggest that Cold War geopolitics, both local and regional level, explain why Hong Kong, even though remained as a dependent territory of Britain, became a member of an international organization independent from the British influence. While geopolitics at local level incentivized the colonial government to “go out” for external support, geopolitics at the regional level provided an opportunity for Hong Kong to acquire membership of the ADB.

This paper is among the first academic study on the origin of Hong Kong’s international status.

Inclusive growth is a buzzword among all nations. Poverty alleviation programmes are vital part of inclusive growth. Hence, the potential role of social protection in the development process has received heightened recognition in recent years. Poverty alleviation through government schemes or programmes is an important part of all nations’ inclusive growth. The explanation of social protection has varied across different development agencies, namely the World Bank, the Inter-American Development Bank, the International Labour Organization (ILO), etc. But the basic thrust of such definitions has involved what the Asian Development Bank (ADB) described in its 2001 Social Protection Strategy as enabling ‘vulnerable groups to prevent, reduce and/or cope with risks’ (ADB, 2001). Hence, it is vital to stress that social protection can help or cover vulnerable non-poor vis-á-vis poor groups. In some cases, such as in East Asia, the poor benefit more from social assistance (SA). This is attributable, no doubt, to the impact of cash- or food-for-work programs (ADB, 2009). This chapter seeks to determine or identify the impact of Social Protection Index (SPI) on inclusive growth through poverty alleviation in a few Asian countries using secondary data (ADB, 2009, 2016, 2019) on government social protection programs in some countries in Asia. It is obtained that the impact of components of SPI, such as social insurance (SI) programs, SA programs and labour market programs (LMP), is playing a vital role in eradication of poverty and attaining inclusive growth.

This paper aims to analyse sanctions regimes of multilateral development banks and to examine some of the topical issues surrounding sanctioning practices of these institutions. Under the Agreement for Mutual Enforcement of Debarment Decisions (the “Mutual Enforcement Agreement”), sanctions covering the sanctionable practices that are imposed and made publicly available by any participating MDB may be enforced by other participating MDBs. This dramatically amplifies the impact of debarment decisions taken by any one of the participating MDBs, while affirming the MDBs’ commitment to combating the sanctionable practices. Consequently, companies will need to invigorate their procedures with a view to managing their risks not only in relation to national legislation, but also in relation to the MDBs’ sanctioning frameworks, which have much broader geographic scope than that of national legislation. This paper first provides an overview of the tenets established by the Mutual Enforcement Agreement. Further, as all MDBs maintain their own sanctions mechanisms, the paper analyses individual sanctions regimes of the WBG, EBRD and ADB. The paper then describes the types of sanctions that may be imposed by MDBs and examines some of the challenging issues surrounding the banks’ sanctions practices.

This paper draws on the experience of senior lawyers who were intimately involved in the set-up of the sanctions regimes at the World Bank, the International Finance Corporation, the EBRD and the ADB and are currently involved in the work of sanctions boards at their respective institutions.

Companies and individuals dealing with MDBs should be aware of the fact that, as a result of the Mutual Enforcement Agreement, the profile of MDBs’ fraud and corruption cases has been raised significantly and could result in global sanctions for prohibited practices in a single country. Consequently, a company engaging in a prohibited practice in its business dealings with one MDB might find itself unable to obtain financing from the four other MDBs participating in the Mutual Enforcement Agreement, and furthermore its debarment would be published by all five participating MDBs (subject to the above-described limitations of ADB’s publication regime). As MDBs continue to develop their sanctions regimes, greater harmonisation among sanctions processes is to be expected and companies doing business with MDBs should, at the very minimum, ensure that their compliance and ethics programmes are up to date, both as a preventative measure or, if wrongful actions have already taken place, as a means of mitigating the severity of possible sanctions.

A lot has been written about the consequences of criminal convictions for bribery and other corrupt practices. However, much less attention has been paid to the evolution of anti-corruption policies and procedures which have been developed by a group of leading MDBs. In fact, for many corporates, sanctions regimes of MDBs remain unchartered territory, even though these sanctions proceedings can have far-reaching business consequences. This paper will, therefore, be of interest to all companies directly or indirectly involved with MDB-financed projects, as they need to be alert to the scope of MDB sanctions proceedings and the wide-ranging adverse business consequences that may result from any enforcement action.

This chapter examines the impoverishment process in three South Caucasian states: Armenia, Azerbaijan and Georgia. It uses the concept of ‘order of curtailment’ of consumption expenditures to detect the order of curtailment of expenditures in the Caucasus region. It then suggests computing poverty rates on the basis of a threshold corresponding to the curtailment of a certain number of consumption expenditures categories and compares the poverty rates obtained with those derived from more traditional approaches to the unidimensional measurement of poverty. The empirical illustrations are based on the Caucasus Barometer surveys of 2009 and 2013.

Water resources development plays a central role in reducing poverty and achieving sustainable economic growth in Laos. The development of irrigation is vital for the rural population dependent on agricultural production, but irrigation projects have suffered from low levels of maintenance, as farmers have felt little ownership for the government projects. At the moment, a process of Irrigation Management Transfer (IMT) is undertaken in Laos with the aim of transferring the management and operation of schemes to farmers. This article aims at evaluating, how IMT has been implemented in Laos and how it is affecting the sustainability of agriculture.

Traditional models of full and open competition are generally applied for ordinary public procurement contracts, whereas special competitive procedures (such as unsolicited proposals) are permissible under various international and domestic frameworks for “Public-Private Partnership” (PPP) contracts. In case of the latter category of contracts, some concerns about relative lack of transparency and competition in the award process have begun to surface, while they are being increasingly relied upon for development of public infrastructure and services. This paper focuses on certain aspects of competition and transparency in the award of PPP contracts, vis-à-vis normal public procurement contracts. To facilitate a sharper identification of legal issues, it compares the relevant regulations and case law in India applicable to unsolicited proposals (UNPs) with that in the United States and those under available international frameworks. It concludes with recommendations on identified legal dimensions of UNPs with reference to government obligations on transparency and competition, so as to adequately preserve these elements in procurement of PPP infrastructure projects.

This study aims to investigate the nature and extent of compliance to the principle-based corporate governance initiatives by the listed companies in the South Pacific Stock Exchange (SPSE) in Fiji. Three important questions are addressed: whether listed companies in Fiji have complied with the principle-based governance practices? Did compliance with principle-based recommendations lead to an improvement in the listed company's financial performance and legitimacy? How the institutional factors have contributed towards corporate governance practices in Fiji?

Panel data for the SPSE companies over the period 2008-2011 are analysed using ordinary least squares (OLS) regression. Tobin's Q and return on assets (ROA) metrics are used as dependent variables.

The findings indicate that listed companies have adopted the Capital Market Development Authority's (CMDA) recommendations by establishing subcommittees for audit and remuneration, having non-executive/independent directors on the board and separate chair and CEO positions in order to gain legitimacy from stakeholders. Results support the view that the CMDA recommendations of board sub-committees (audit and remuneration) have had positive influence on company performance measured by Tobin's Q. The findings of this study give support to the principle-based corporate governance practices adopted in Fiji to gain legitimacy.

The study adds to the governance literature by focusing on the principle-based governance practices in a small remote island country, Fiji which has relatively small economy, capital market and company size. Finally, the study adds to institutional theory by showing how companies' corporate governance choices are affected by the severity of agency conflicts and the way corporate governance is regulated.

This paper aims to share experience in the design and implementation of a two-year capacity development program for combating money laundering and financing of terrorism in Mongolia.

The paper reflects the experience of the authors in the design and implementation of the program with inputs from their counterparts in Mongolia.

The program outcomes and the level of collaboration are generally positive, and the authorities and the Asian Development Bank agreed on a two-year extension of the program to further the progress made.

The authors hope to share key reflections from the program for the purpose of other similar programs or studies in the field of combating money laundering and financing of terrorism.