Saturday, June 03, 2006

Great Lectures on Globalization

Financial Times Commentator Martin Wolf spoke at SAIS Lecture Series March 28 - 30, 2006 (with Video and other material):

Martin Wolf, associate editor and chief economics commentator for the Financial Times, spoke at a three-part lecture series about "Fixing Global Finance" at SAIS on Tuesday, March 28, Wednesday, March 29 and Thursday, March 30. Professor Francis Fukuyama moderated the sessions. The series was hosted by the Bernard L. Schwartz Forum on Constructive Capitalism at SAIS.

Here's one stat from the presentation to whet your appetite:
•Financial crises have come thick and fast.

•The World Bank (2001) estimated that there were 112 systemic banking crises in ninety-three countries between the late 1970s and the end of the twentieth century.

•Eichengreen and Bordo (2002) counted ninety-five crises in emerging market economies and another forty-four in high-income countries between 1983 and 1997

HT: Brad Setser's Web Log who provides a good preview:
Wolf thinks big, like Mervyn King and Larry Summers. Geithner and Bernanke don't explicitly address the future of the "system," but they are also clearly thinking about how the US - and specifically US monetary policy - should respond to major changes in the global economy.

Wolf believes there is a savings glut. Or a shortage of demand. But he also doesn't think emerging markets should be financing of the US. Or that world growth should depend on continued expansion of the already large US current account deficit. So he wants change...


Blogger Boberno Normandy said...

Thanks for this post. Recently I also found he has a book out though I have not read it yet.

Why Globalization Works

There was also a economic forum discussion at IMF.

June 9, 2006 at 10:53 PM  

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