Latin America/Caribbean and Asia/Pacific Economics and Business Association (LAEBA)
The Inter-American Development Bank (IADB), through the Integration and Trade Sector (INT) and the Institute for the Integration of Latin America and the Caribbean (INTAL), and the Asian Development Bank (ADB), through the ADB Institute jointly coordinate the “Latin America/Caribbean and Asia/Pacific Economics and Business Association (LAEBA).” LAEBA is dedicated to advancing economic linkages between the two regions through cross-regional and comparative research and exchange.
The LAEBA initiative results from an inter-agency Partnership Agreement signed on March 17th, 2001 between the IADB and ADB at the 42nd Annual Meetings of the Board of Governors of the IADB and the Inter-American Investment Corporation (IIC) in Santiago, Chile. The Partnership Agreement promotes the exchange of knowledge, experiences, and expertise to support regional development assistance.
Regional Responses to Globalization
In the last decade the impact of globalization has created opportunities and challenges for the developing world, generating a variety of responses among the economies of Latin America/Caribbean and Asia/Pacific. These include building a critical new human resource and technology infrastructure; creating social protection programs; fashioning regional monetary surveillance systems; and negotiating regional and bilateral trade arrangements. One notable trend is the deepening of intra-regional linkages in trade, finance, infrastructure and economic development. The LAEBA framework supports the exchange of knowledge of national and regional economic development strategies in each region.
Importance of Regional Networks
Initiatives to strengthen the knowledge base about Latin America/Caribbean and Asia/Pacific have flourished at the national, regional and international levels. These have provided a network among individual researchers and institutions for exchange of relevant information on a wide range of specialized topics. Inter-regional mechanisms that are devoted to promoting comparative research and institutionalizing networks and relationships between the two regions are less common.
Synergy between Business, Public Policy and Academia
An inter-regional focus based on this triangle of critical actors can facilitate and inform the process of economic policy-making and private sector decisions through comparative and applied research, on-going information exchange, networking, and confidence building.
The creation of LAEBA responds to a growing recognition in both regions of the need to develop an inter-regional mechanism to link academic research with policymakers and the private sector, which is exemplified by the inter-agency Partnership Agreement. The mission of LAEBA is to:
- Encourage comparative and applied research in the areas of economics, finance, business economics, and public policy of both regions.
- Provide an inter-regional framework for professional networks to collaborate on issues of mutual interest between the regions.
- Facilitate and inform the process of economic policy-making and private sector decisions through enhanced interaction among policymakers, academia, and the business community.