David Finch Public Lecture 2015


From: Monday May 25, 2015, 6:30 pm

To: Monday May 25, 2015, 7:30 pm

The Global Economy Seven Years after the Financial Crisis: Vulnerabilities and Policy Issues
The topic: Following the global financial crisis of 2008, most advanced economies went into a protracted economic slump, coupled with a historic private debt overhang and rapidly mounting public debts. Meanwhile, most emerging markets flourished and attracted sizable capital inflows, helped by rapid growth in China, buoyant commodity prices, and extremely low and stable international interest rates. Seven years on, many advanced economies in Europe have barely begun to recover and deflationary challenges have emerged. The favourable global environment has taken a turn for the worse, as commodity prices have declined and the strengthening US dollar has raised debt servicing burdens for many emerging markets. This talk places the current global situation in a broad historical context, discussing the main policy challenges faced by advanced and emerging economies and distilling historical lessons on what the end game may bring. Register: The speaker: Carmen Reinhart is the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. Previously, she was the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Professor of Economics and Director of the Center for International Economics at the University of Maryland. Professor Reinhart held positions as Chief Economist and Vice President at the investment bank Bear Stearns in the 1980s, and has spent several years at the International Monetary Fund.  She has been listed among Bloomberg Markets Most Influential 50 in Finance. Her best-selling book (with Kenneth S. Rogoff)  entitled This Time is Different: Eight Centuries of Financial Folly  documents the striking similarities of the recurring booms and busts that have characterized financial history and has been translated to over 20 languages and won the 2010 Paul A. Samuelson TIAA-CREF Institute Award, among others.


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