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Seminar on The Great Financial Crisis
The Institute of Southeast Asian Studies (ISEAS) will be organising a 2-hr seminar on the financial crisis that started a year ago.
The origins of the crisis will be analyzed at three levels:
- The efficient market hypothesis
- The financial industry practices, malpractices and failure of regulatory regimes, much of these again a result of the blind faith in the market efficiency theory
- At the structural changes in the U.S. economy and the macro-economic imbalances that underlie this crisis, namely, current account imbalance, wealth and income inequality, and the imbalance between the financial industry and the real economy.
The seminar will then examine the impact of the crisis on Southeast Asian economies, noting that despite these economies having emerged economically and financially sounder after the Asian financial crisis, they have been hit hard by the crisis.
Finally, the seminar addresses the challenges ahead. Reforms and solutions to the crisis must arise from a proper understanding of its causes. The speakers will touch on the types of reforms needed in the financial sector, in the international monetary system, and in the export-led model of economic growth that has served Asia well thus far.
Date: Friday, 25 September 2009
Time: 10.30 am – 12.30 pm
Venue: Seminar Room II, ISEAS
The online registration form can be found here.
The profiles of the speakers are available here.