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Lesson
This validation offers the following lesson: although TA design may identify a particular model of consultancy, these needs may evolve during the program requiring adjustment. In this case, in developing a model that responded to the needs of ACMF’s working group on corporate governance, the TA project shifted its approach since the regulators felt that an audit firm (rather than consultants) would lend more credibility and recognition to the validation exercise.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation has rephrased the recommendation into a lesson as follows: Providing adequate visibility to partners who have either financed the project or have special interest and stake in seeing its success is necessary to ensure their continued support.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation agrees that cooperation and coordination, especially with other ADB departments, is important. This was a missed opportunity for this TA project. It is, however, not clear though why a visit to the People's Republic of China is required or recommended for the next ACMF TA.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation offers the following lesson: it is important to work and clearly communicate with ACMF and its working groups to get buy-in to the TA project. This is evident in how stakeholders noted their appreciation to this approach.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation offers the following lesson: keeping the stakeholders engaged through national interventions and securing sources of post-TA financial resources (unless the TA project was a project preparation TA) is important especially for capacity building TA projects, to ensure continuity and sustainability of the project.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
Identifying critical risks and assumptions are an important element of design. However, design could also usefully identify mechanisms to mitigate these risks.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation agrees with the lesson of building awareness for the work done under the TA project. However, it is unclear why awareness-building beyond ASEAN is required for this TA project. One can surmise that it could be for the goals of attracting capital. However, the role of partnership with foreign academic institutions is unclear beyond the publication of potential knowledge products. This lesson or recommendation should then be classified under partnership and cofinancing.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation agrees with the recommendation and rephrases this as a lesson: Partnering with operational projects within ADB is an important step in ensuring that other DMCs outside ASEAN can develop their capital markets and improve governance standards of publicly listed companies.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
Drawing on lessons from similar previous TA projects can help in robust design that is responsive to DMC needs, isrealistic, and adopts best practice. This could help to get greater stakeholder engagement in complex processes such as regional capital market integration.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
Agreed. A useful lesson is the importance of partnering with other knowledge institutions to tap expertise and efficiently use financial resources.

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
Another lesson relating to the TA is the selection of appropriate design and monitoring framework indicators that pertain to the effective utilization of knowledge products. Since the main outputs of regional capacity development TAs are knowledge products, monitoring the extent of utilization or uptake of the knowledge products produced within and/or outside ADB would benefit from user surveys or interviews. These surveys and interviews can help provide insights into how the knowledge products have benefited their users.

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
Agreed. A useful lesson is the importance of partnerships with the client to ensure buy-in and follow through, and to tailor to additional capacity building demands from the DMCs

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
There is a need for careful planning in the context of an exploratory TA, such as this one, to allow for timely delivery of outputs while ensuring process and cost efficiency

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
In the TCR’s Conduct of Activities section, it mentioned: “The nowcasting study featuring Indonesia was completed and published in the ADB Economics Working Paper series in December 2015 and in Empirical Economics journal in June 2017. This tool has been used regularly by the Indonesia Resident Mission to support their growth forecasts since 2016 and has also been shared to the Fiscal Policy Agency of the Ministry of Finance and Ministry of National Development Planning of the Republic of Indonesia to enrich their suite of tools for conducting macroeconomic monitoring.

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
Agreed. Another useful lesson is the importance of involving clients in a hands-on manner to build a technical product and ensure the transfer of technical expertise, and the subsequent adoption or uptake

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date: