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POLICY ADVOCACY AND NETWORKING

POLICY ADVOCACY AND NETWORKING. CACCI Chamber Operations Course August 25-30, 2008 Taipei, Taiwan. Outline. Fundamentals of policy advocacy Case study: Asian Bankers’ Association ’s Project on Promoting the Development of Local Currency Bond Markets in APEC. Fundamentals of Policy Advocacy.

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POLICY ADVOCACY AND NETWORKING

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  1. POLICY ADVOCACY AND NETWORKING CACCI Chamber Operations Course August 25-30, 2008 Taipei, Taiwan

  2. Outline • Fundamentals of policy advocacy • Case study: Asian Bankers’ Association’s Project on Promoting the Development of Local Currency Bond Markets in APEC

  3. Fundamentals of Policy Advocacy

  4. Definition of policy advocacy • The effort to influence policy through various forms of persuasive communication. • Policy: includes statements, policies or prevailing practices imposed by those in authority to guide or control institutional, community and individual behavior.

  5. Steps in policy advocacy • Analysis • Strategy • Mobilization • Action • Evaluation • Continuity

  6. 1. Analysis • Accurate information and in-depth understanding • Problem • People involved • Policies • Implementation/Non-implementation of policies • Organizations • Channels of access to influential people and decision makers

  7. 1. Analysis: Key questions • Problems? • Existing policies? How are they implemented? • Type of policy change needed? • Stakeholders? Advocates? Supporters? Opponents? Decision makers? Undecided? • Who influences key decision makers? • Channels to reach decision makers?

  8. 2. Strategy • Builds upon analysis • Direct, plan and focus on specific goals • Establish clear paths for advocacy efforts to achieve those goals and objectives

  9. 2. Strategy: Key Elements • Working group to develop strategy/plan activities • Primary and secondary audiences • Objectives (specific, measurable, appropriate, realistic, time-bound - SMART) • Identify resources, coalitions, support • Activities, channels of communication • Implementation plan, budget, indicators

  10. 3. Mobilization • Networking and coalition-building • Audiences, partnerships and resources to be considered in the design of events, activities, messages and materials • Aim for maximum participation by all coalition members and minimal responses from opposition

  11. 3. Mobilization: Key Elements • Action plan for coalition partners’ participation • Delegation of responsibilities to coalition members • Network • Linking position to interests of policy makers • Rallying grassroots support

  12. 4. Action • Keeping all partners together • Keep attention and concern on the issue • Persisting in making the case • Repeating the message • Repeated use of credible materials

  13. 4. Action: Key Elements • Carrying out planned activities • Monitoring and response to other views and opposition • Keeping all coalition members informed • Develop/maintain media support

  14. 5. Evaluation • Needed because advocacy often provides only partial results • Advocacy team to measure regularly and objectively • What has been accomplished • What remains to be done • Process evaluation and impact evaluation

  15. 5. Evaluation: Key Elements • Establish/measure intermediate and process indicators • Evaluate specific events and activities • Compare final results with indicators to measure change • Identify key factors contributing to policy changes • Sharing results with stakeholders

  16. 6. Continuity • Advocacy: an ongoing process • Articulating long-term goals • Keeping functional coalitions together • Keeping data and arguments in tune with changing situations

  17. 6. Continuity: Key Elements • Monitoring implementation of desired policy changes • Reviewing strategies and actions • Identifying new actions to be taken • Developing plans to sustain and reinforce change

  18. Case Study

  19. ABA: Bond markets • 1999-2007: ABA position papers calling for measures to develop and integrate local currency bond markets in Asia • 2000: ABA study on regional cooperation among domestic credit rating agencies • 2001: Establishment of the Association of Credit Rating Agencies in Asia (ACRAA) • 2003: Launch of Asian Bond Market Initiative, Asian Bond Fund, APEC supporting actions

  20. ABA: Bond markets • 2004: Taipei conference on public-private sector collaboration to develop bond markets (collaboration with ABAC, PECC and ACRAA) • 2006: APEC Finance Ministers agree to launch APEC Public-Private Sector Forum on Bond Market Development • 2007: Forum launched in Melbourne, Australia • 2008: 2nd Forum held in Cusco, Peru

  21. ABA Policy Advocacy • Analysis • Establishment of the ABA Special Committee on Policy Advocacy (later renamed Policy Advocacy Committee) • Discussions in committee – agreement on issues • Policy issues (complex set of issues – credit rating practices, accounting standards, benchmark yield curves, legal and policy frameworks, protection of creditor rights, corporate governance, etc.)

  22. ABA Policy Advocacy • Analysis (continued) • What is needed – policy reforms and capacity-building • Stakeholders – governments, financial institutions, international financial institutions, multilateral development banks, institutional investors, corporate issuers • Decision-makers: finance ministries, financial regulators, legislators, regional organizations

  23. ABA Policy Advocacy • Analysis (continued) • Who influences decision makers – advisory bodies, IFIs, MDBs, financial experts, financial industry associations

  24. ABA Policy Advocacy • Strategy • Established Bond Market Task Force to develop strategy and plan activities • Identified primary audience: Finance Ministers in Asian and APEC member economies • Identified secondary audience: other regional organizations (ABAC, PECC), ADB, IMF, WB, IDB, SEACEN, financial regulatory agencies, central banks

  25. ABA Policy Advocacy • Strategy (continued) • Set objectives • Get Asian and APEC Finance Ministers to launch long-term initiatives to develop/integrate local currency bond markets through policy reforms and capacity-building • Bring together Asian domestic credit rating agencies to work with ADB on convergence of rating practices • Develop a regional framework for cross-border insolvency and informal workouts and obtain governments’ support • Develop a framework for region-wide convergence toward robust international financial reporting standards

  26. ABA Policy Advocacy • Mobilization • Developed ties to other organizations, providing inputs and co-organizing activities • ABAC • PECC • SEACEN • ADB and ADBI • Actively promoted the establishment of a permanent network of institutions: Advisory Group on APEC Financial System Capacity-Building

  27. ABA Policy Advocacy • Action • Regular position papers – drafted and submitted to primary and secondary audiences, worked for endorsement by ABAC and PECC • Commissioned study on regional convergence of credit rating practices – concluded with recommendation to form a regional association and initiate cooperation with ADB • Co-organized meetings with ADBI/ADB to establish ACRAA and initiate cooperation with ADB

  28. ABA Policy Advocacy • Action (continued) • Collaborated with ADB and national bankers’ associations to develop a regional framework and model agreement for informal workouts through workshops in different cities, which was officially adopted by ABA • Collaborated with SEACEN to obtain support from central banks for bond market and regional insolvency and informal workout frameworks through sessions in annual dialogue with financial regulators

  29. ABA Policy Advocacy • Action (continued) • Co-organized sessions on bond market development during conferences hosted by PECC (2003-2005) • Co-organized conferences on public-private sector collaboration for bond market development (2004 and 2005) and corporate governance • Actively collaborated in organizing sessions of the First APEC Public-Private Sector Forum on Bond Market Development (2007, Melbourne)

  30. ABA Policy Advocacy • Action (continued) • Speaking engagements by ABA Chairman and ABA Policy Advocacy Committee Chairman and Coordinator • Press releases and press conferences • Publications: ABA Journal of Banking and Finance, ABA website, independent publications (2005 bond market conference published by ISEAS Singapore) • Advertorials: Financial Times (2004 and 2006)

  31. ABA Policy Advocacy • Evaluation • Annual year-end review and evaluation by Policy Advocacy Committee • Evaluation of specific activities • Evaluation of achievements vis-à-vis targets • Identification of key factors • Reporting of year-end review to ABA Board • Drafting and circulation of minutes of year-end review (as part of year-end Committee meeting)

  32. ABA Policy Advocacy • Continuity • Drafting, discussion and approval of annual work program, incorporating new elements based on previous year’s review whenever necessary • Reporting of progress during the regular Policy Advocacy Committee meetings (beginning of the year, mid-year and year-end)

  33. ABA Policy Advocacy • Some insights from experience • Government officials often take time to respond, and choose their own priorities • Impractical to set concrete time frames and targets over processes outside of your organization’s control • Keep long term goals in mind, but better to set priorities annually, responding to emerging opportunities • For effective networking and leadership, credibility and trust are important

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