An APEC Finance and Development Program (AFDP) research project was launched recently in a bid to promote the expansion capacity of finance and economic development in Asia-Pacific region.
With a theme focusing on cross-border finance and economic development, the AFDP research project will examine the following issues: the role of imported foreign financial services in strengthening capital market, credit culture and financial reform in the Asia-Pacific region, the role of foreign financial firms (branches) in improving financial know-how and technological understanding in the financial systems of member economies, assessment of the impact of foreign involvement in securities markets centring on the level participation and risks associated with the volatility of asset prices and risks of cross-border capital flows, and the implications of general policies.
The AFDP Secretariat has invited research institutes of member economies to supply research proposals. Researchers in the APEC region are welcome to submit proposals focusing on cross-border finance and economic development before the end of November 2002. An AFDP panel will then evaluate the research proposals and decide on the research projects to be supported by the AFDP. Successful proposals can expect to receive research grants of up to US$10,000.
The three-year AFDP is an initiative originally proposed by China in October 2001, with an aim of strengthening capacity development in the APEC region by financing research, organizing forums and providing training courses. The Program will boost the capacity of the APEC economies in the fields of finance and economic development and enable a thorough exploration of a variety of approaches tailored to the diverse situations of member economies in the APEC region.
(china.org.cn by Guo Xiaohong, September 26, 2002)
