Developing Asia’s infrastructure gap results from both inadequate public resources and a lack of effective channels to mobilize private resources toward desired outcomes. The public-private partnership (PPP) mechanism has evolved to fill the infrastructure gap. However, PPP projects are often at risk of becoming distressed, or worst, being terminated because of the long-term nature of contracts and the many different stakeholders involved. This paper applies survival-time hazard analysis to estimate how project-related, macroeconomic, and institutional factors affect the hazard rate of the projects. Empirical results show that government’s provision of guarantees, involvement of multilateral development banks, and existence of a dedicated PPP unit are important for a project’s success. Privately initiated proposals should be regulated and undergo competitive bidding to reduce the hazard rate of the project and the corresponding burden to the government. Economic growth leads to successful project outcomes. Improved legal and institutional environment can ensure PPP success.

This paper argues for a novel approach to financing infrastructure needs in Arab countries. It first describes the context of rising public debt in the region, contrasting it with the vast infrastructure needs. It then discusses the challenges in meeting these needs with traditional financing. The paper then makes the case for maximizing finance for development by using public-private partnerships and presents a few successful examples in Arab countries. Finally, the paper explores the way forward and concludes on the need for strong state capacity and integrity to promote the “maximizing finance for development” approach.

The project finance scenario has changed significantly around the world after the 2008 financial crisis and following the subsequent Basel III recommendations. Project finance loans from commercial banks and financial institutions have largely dried up, leaving it mostly to the export credit agencies and the bilateral and multilateral development banks to provide the institutional credit. Unfortunately, those sources are not enough, given the huge needs for construction of new infrastructure and renovation of the old ones across Asia, Africa and Latin America. The need for capital markets, through market listed financial products across asset class, unlocking a large part of domestic and corporate savings, has never been felt as strongly before. This article seeks to analyze the development story of various Asian capital markets and examine financial products, which have succeeded in their short history in receiving investor interest. The article also delves into the challenges to market development, policy imperatives and the issues relating to market liquidity and credit rating, which are the most significant influencers for public market float and investor interest.

The paper examines the motivations, financing, expansion and challenges of the Belt and Road Initiative (BRI). The BRI was initially designed to address China’s overcapacity and promote economic growth in both China and in countries along the “Belt” and “Road” through infrastructure investment and industrial capacity cooperation. It took into account China’s strategic transition in its opening-up policy and foreign policy to pay more attention to the neighboring countries in Southeast Asia and Central and West Asia when facing greater strategic pressure from the United States in East Asia and the Pacific region. More themes have been added to the initiative’s original framework since its inception in 2013, including the vision of the BRI as China’s major solution to improve international economic cooperation and practice to build a “community of shared future for mankind”, and the idea of the Green Silk Road and the Digital Silk Road. Chinese state-owned enterprises and policy and commercial banks have dominated investment and financing for BRI projects, which explains the root of the problems and risks facing the initiative, such as unsustainable debt, non-transparency, corruption and low economic efficiency. Measures taken by China to tackle these problems, for example, mitigating the debt distress and improving debt sustainability, are unlikely to make a big difference anytime soon due to the tenacity of China’s long-held state-driven investment model.

In this study, nano-scale microstructural evolution in 6061-T6 alloy after laser shock processing (LSP) was studied. 6061-T6 alloy plate was subjected to multiple LSP. The LSP treated area was characterized by X-ray diffraction and the microstructure of the samples was analyzed by transmission electron microscopy. Focused Ion Beam (FIB) tools were used to prepare TEM samples in precise areas. It was found that even though aluminum had high stacking fault energy, LSP yielded to formation of ultrafine grains and deformation faults such as dislocation cells, stacking faults. The stacking fault probability (PSF) was obtained in LSP-treated alloy using X-Ray diffraction. Deformation induced stacking faults lead to the peak position shifts, broadening and asymmetry of diffraction. XRD analysis and TEM observations revealed significant densities of stacking faults in LSP-treated 6061-T6 alloy. And mechanical properties of LSP-treated alloy were also determined to understand the hardening behavior with high concentration of structural defects.

Using the rank scale rule, taking 47 major port cities in China from 2001 to 2015 as research samples, this paper discusses the rank scale characteristics and hierarchical structure of coastal port city system from a multi-functional perspective, and divides the coupling type of multi-functional development based on shipping logistics. The research shows that: 1) from 2001 to 2015, the scale-free area of manufacturing function order scale distribution in the coastal port city system appeared bifractal structure, the hierarchical segmentation characteristics appeared, and the other functions were single fractal; From the perspective of long-term evolution, only the order and scale distribution of shipping logistics function has developed from centralization to equilibrium, while the business function, manufacturing function (scale-free region I), modern service function and population distribution function are in a centralized situation. 2) The hierarchical structure of coastal port city system has gradually changed from pyramid structure to spindle structure, and generally formed five levels: national hub, regional hub, regional sub center, regional node and local node. 3) From the perspective of multi-functional coupling types, the traditional functions of port cities are generally ahead, while the high-end service functions lag behind, and the improvement speed of urban functions is slow and tends to be flat, indicating that the multi-functional development of China’s coastal port cities is still at a low level, and the industrial system structure needs to be further optimized. 4) From the perspective of port cities at different levels, the functions of regional hub cities and regional sub central cities are in the stage of rapid growth; regional and local node cities are still in the growth stage of traditional functions such as industry and commerce.