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ESM co-organises first Joint Regional Financing Arrangements Research Seminar in Singapore

                                                                                                                                                                                                                                                                                                              

The views of the researchers participating in the 1st Joint Regional Financing Arrangements (RFAs) Research Seminar do not necessarily reflect the views of the ESM or ESM policy.

Time shown is local time. Event by invitation only.

Press Release

Photos - credit RFA Research Seminar

Programme
 

7 September 2017
8.30 - 9.00 Registration
9.00 - 9.05
Opening Remarks

Junhong Chang | Director, AMRO
9.05 - 9.15
Keynote Speech

Klaus Regling | Managing Director, ESM
9:15 - 11.15  Session 1: Economic Surveillance - Methodology, Current Practices, and Challenges

Economic surveillance is key to identify main signals that can potentially lead to a crisis.
RFAs are keen to strengthen their capacity of economic surveillance with the contribution from academics. This session will focus on the methodology, current practices and challenges pertaining to economic surveillance, with a particular interest in tools on sovereign vulnerability assessment, early warning signals, current account sustainability as well as fiscal sustainability.

Chair: Hoe Ee Khor | Chief Economist, AMRO

Presenters:
Hyun Min Jung | Korean Centre for International Finance
Murtaza Syed | Deputy Division Chief of Advanced Economies and Multilateral Issues, IMF

Discussants:
Akira Ariyoshi | Advisory Panel Member, AMRO
Kyung Wook Hur | Advisory Panel Member, AMRO
Juan Rojas | Head of Economic and Market Analysis, ESM
Servaas Deroose | Deputy Director General, DG ECFIN, European Commission

Q&A
11.15 - 11.45
Coffee Break and Photo Session
11.45 - 13.45
Session 2: Lessons Learned from the Past for Future Crisis Prevention

A number of regions, including East Asia, Latin America and Europe, have gone through crises of different types in the past. This session will contribute to the understanding of the different types of crises (e.g. currency crisis, bank runs, sovereign debt crises, etc.), and how to deal with them. Different RFAs are in fact set up to deal with different crisis types; this also explains the variety of instruments available at different RFAs. The session will also address ways to deal with spillovers across countries and regions and from global financial markets.

Chair: Rolf Strauch | Member of Management Board and Chief Economist, ESM

Presenters:
Giancarlo Corsetti | Cambridge University
Joshua Aizenman | University of Southern California

Discussants:
Bandid Nijathaworn | Advisory Panel Member, AMRO
He Fan | Peking University, HSBC School
Yaroslav Lissovolik | Chief Economist, Eurasian Development Bank
Antoine Chery | Head of Economic Service for ASEAN Countries, French Embassy in Singapore

Q&A
13.45 - 14.45 Lunch
14.45 - 16.45
Session 3: Crisis Management - Liquidity Provision vs. Moral Hazard Concerns

In times of crises, swift reaction for crisis resolution is important. At the same time, to prevent facility shopping and to contain moral hazard risks also matter. This session will discuss how to address these concerns, using conditionality or other instruments.

Chair: Carlos Giraldo | Director, Economic Studies, FLAR

Presenters:
Jeromin Zettelmeyer | Senior Fellow, Peterson Institute for International Economics
Randall Henning | American University

Discussants:
Maria Socorro Gochoco-Bautista | Advisory Panel Member, AMRO
Beatrice Weder di Mauro | Distinguished Fellow in Residence, Emerging Markets Institute, INSEAD
Lucas ter Braak | Deputy Head of Division, EU Institutions & Fora Division, ECB
Gong Cheng | Senior Economist, ESM

Q&A
16.45 - 16.50 Closing Remarks

Carlos Giraldo | Economic Studies Director, FLAR