PAFTAD36: Financial Development and Cooperation in Asia and the Pacific

Transcription

1 PAFTAD36: Financial Development and Cooperation in Asia and the Pacific November 2013 Venue: Hong Kong Monetary Authority Harbour Room, 56th Floor, Two International Financial Centre, 8 Finance Street, Central 19 Nov 8:10am Depart Kowloon Hotel lobby (shuttle bus provided) 8:30am 9:25am 9:30 11:15am Registration HKMA, Harbour Room, 56 th Floor, Two International Financial Centre, 8 Finance St OPENING SESSION 9:00-9:05 Moderator: Edward Chen (University of Hong Kong) 9:05-9:15 Welcome Remarks: Norman Chan (Hong Kong Monetary Authority) 9:15-9:25 Opening Remarks: Wendy Dobson (University of Toronto) SESSION 1: Financial System and Economic Development Against the background of the literature on financial system and economic development, what has been the experience of financial reform and liberalization of the economies in Asia and the Pacific? What lessons have been learned from the Asian financial crisis and the recent global financial crisis? What should be the direction and pace of financial reform for achieving faster growth in Asia and the Pacific? Chair: Edward Chen (University of Hong Kong) Paperwriter: Barry Eichengreen (UC Berkeley) Discussants: Thorsten Beck (Tilburg University), Chen Lin (University of Hong Kong) 11:15 11:45am 11:45 1:30pm and Group Photo SESSION 2: Prudential Regulation and Supervision in Asia and the Pacific What are the implications of Basel III implementation for the cost and efficiency of financial intermediation in the region? Do we need to go beyond Basel III in the design of macro prudential policies, particularly in light of the risks associated with volatile capital flows in the region? Chair: Hugh Patrick (Columbia University) Paperwriter: Robert McCauley (Bank for International Settlements) Discussants: Timo Henckel (The Australian National University), Maria Socorro Gochoco-Bautista (Asian Development Bank) 1

2 1:30 2:30pm 2:30 4:15pm Lunch Venue: HKMA, International Financial Centre SESSION 3: Capital Market Development in Asia and Pacific Region What are the challenges in developing local capital markets? Is there a close relationship between banking system and capital market development? What is the role of capital market in promoting financial stability? Chair: Peter Drysdale (The Australian National University) Paperwriter: Andrew Sheng (Tsinghua University & University of Malaya) Discussants: David Nellor (Australia Indonesia Partnership for Economic Governance), Ying Xu (The Australian National University) 5:00 8:30pm PUBLIC EVENT: Financial Development in China and Implications for the Global Economy Venue: Chancellor Room, Level 4, Hong Kong Convention and Exhibition Centre Hosted by China Daily (Asia Pacific) in Association with HKIMR and PAFTAD 5:00 5:30pm Tea Reception 5:30 6:00pm Keynote Speech: The Hon. C Y Leung, Chief Executive of HKSAR 6:00 7:15pm Panel Discussion Moderator/Panelist: Wendy Dobson (University of Toronto) Panelists: He Dong (Hong Kong Monetary Authority) Benjamin Hung (The Standard Chartered Bank, Hong Kong) Narongchai Akrasanee (Thailand Fiscal Policy Research Institute) 7:15 8:30pm Reception (food provided) 2

3 20 Nov 8:20am Depart Kowloon Hotel lobby (shuttle bus provided) 10:45am SESSION 4: Monetary Policy Framework in the Asia and Pacific Region In light of the experience of global financial crisis, what are the considerations and challenges in refining the monetary policy framework in the region? How to take into consideration financial stability in monetary policy framework? Do different exchange rate regimes matter? How to deal with the spill-over effects of monetary policy decisions of major central banks such as U.S. Fed and ECB? Chair: Narongchai Akrasanee (Thailand Fiscal Policy Research Institute) Paperwriter: Hiro Ito (Portland State University) Discussants: Chow Hwee Kwan (Singapore Management University), David Cook (The Hong Kong University of Science and Technology) 10:45 11:00am 11:00 12:45pm SESSION 5: Regional Financial Cooperation and Policy Coordination Is there a case for explicit coordination of macroeconomic and macro prudential policies in the region? What are the roles of regional initiatives such as reserve pooling, central bank swap lines in ensuring regional financial stability? Is there a case for an Asian Monetary Fund? Chair: Akira Kohsaka (Kwansei Gakuin University) Paperwriters: Reza Siregar (ASEAN +3 Macroeconomic Research Office) & Keita Miyaki (Johns Hopkins School of Advanced International Studies) Discussants: Kanit Sangsubhan (Thailand Fiscal Policy Research Institute), Sheng- Cheng Hu (Academia Sinica) 12:45 1:45pm 1:45 3:30pm Lunch Venue: HKMA, International Financial Centre SESSION 6: Financial Development and the Spillovers to the Corporate Sector What have been the effects of Asia s financial development on the financing and growth of corporations? How inclusive has the financial development in Asia been? How do the trends in Asia compare with those in advanced and emerging economies? How has the large expansion in the financial sector of China and India impacted the private sector? 3

4 Chair: Juan Palacios (University of Guadalajara) Paperwriters: Tatiana Didier & Sergio Schmukler (The World Bank) Discussants: Shekhar Shah (NCAER), Francis Hutchinson (ISEAS) 3:30 3:45pm 3:45 5:30pm SESSION 7: Capital Account Liberalisation in China and its Implications for the Region What are the prospects of China fully liberalizing its capital account in the decade ahead? What are the implications of capital account liberalization for the patterns of FDI and portfolio investment in the region? Does such capital flows have policy implications? Chair: Peter Petri (Brandeis University) Paperwriter: Yu Yongding (Chinese Academy of Social Sciences); presented by Wang Daili (Peking University) Discussants: Yiping Huang (Peking University & The Australian National University), Yung Chul Park (Korea University) 6:30 8:30pm PAFTAD International Steering Committee Private Dinner Venue: Loong Yat Heen, Dragon I, 2nd Floor, Kowloon Hotel No Scheduled event for Non-ISC Members 4

5 21 Nov 8:20am Depart Kowloon Hotel lobby (shuttle bus provided) 10:45am SESSION 8: Currency Internationalization What is the prospect of RMB becoming an international currency? What are the lessons for RMB internationalization from the historical experience of yen internationalization? What are the implications of RMB internationalization for regional trade and finance? Chair: Vo Tri Thanh (Central Institute for Economic Management) Paperwriters: Il Huong Lee (KIEP) & Yung Chul Park (Korea University) Discussants: Wendy Dobson (University of Toronto), Yi (David) Wang (University of International Business and Economics) 10:45 11:00am 11:00 12:30pm PANEL: Global Financial Issues and Outlook Chair: Wendy Dobson (University of Toronto) Panellists: Yung Chul Park (Korea University) Yiping Huang (Peking University & The Australian National University) Barry Eichengreen (UC Berkeley) CONFERENCE CONTACTS PAFTAD International Secretariat Mr. Luke Hurst Tel: 61(0) Hong Kong Host Secretariat (HKIMR) Ms. Selina Cheung Tel: (852) Fax: (852)