All past public FMG events from the 2017-18 Michaelmas Term and the 2016-17 academic year are listed below, along with related papers and notes where available. If you have any questions about the programme or earlier events, please contact firstname.lastname@example.org.
Central Banking in Turbulent Times
Francesco Papadia (Chair of the Selection Panel of the Hellenic Financial Stability Fund (HFSF), Senior Fellow at Bruegel)
China’s Financial System: Risks and IMF’s Recommendations
Tuesday, 13 March 2018 from 19:00 to 20:30
Venue: OLD 3.21, 3rd floor, Old Building
Speaker: Ratna Sahay (Deputy Director of the Monetary and Capital Markets Department (MCM) at the International Monetary Fund)
Ratna Sahay, Deputy Director (International Monetary Fund), will discuss the results of the 2017 Financial Sector Assessment Program (FSAP) on China. The FSAP, established in 1999 at the IMF, is a comprehensive and in-depth assessment of a member country’s financial sector. The China FSAP was conducted over the course of 2 years during which the FSAP team visited 11 regions and held more than 500 meetings with senior leaders and officials from a number of regulatory and government agencies, as well as representatives from financial institutions, industry organizations, academics and the private sector. Ms. Sahay’s presentation will be based on a report produced after the FSAP missions were concluded at the end of the 2 years. She will provide an assessment of key risks in the Chinese financial system, as well as the IMF’s recommendations on how to address the risks and reduce financial sector vulnerabilities.
Resolution of Non-Bank Financial Intermediaries
Emiliano Tornese and Heinrich Wollny (Directorate General for Financial Stability, Financial Services and Capital Markets Union, Resolution and Crisis Management, European Commission)
Crypto Currencies from an Austrian Perspective
Alistair Milne (Professor of Financial Economics, School of Business and Economics, Loughborough University)
Beyond Bankruptcy: Resolution as a Macroprudential Regulatory Tool
Steven L. Schwarcz (Stanley A. Star Professor of Law & Business, Duke University School of Law)
A stairway to heaven? The promises and limits of global cooperation
Thursday, 8 February 2018 from 17:00 to 18:30 (GMT)
Venue: Room 9.04, 9th floor, Tower 2
Speaker: Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank
Andreas Dombret will ask whether, over the past forty years, global economic integration has been the “stairway to heaven” that it promised to be. He will argue that today’s very far-reaching form of economic globalisation – for all its positive effects of economic efficiency gains and technological transfer – has had more negative repercussions and created fewer benefits than we expected. This mixed performance is one of several reasons behind the growing support for the populist backlash against globalisation manifested, not least, in the Brexit vote. Dr Dombret will argue that, in future, we must focus our global harmonisation efforts on certain sensible and legitimate minimum standards, while leaving more room for institutional, legal and regulatory diversity between countries with different histories and preferences.
Watch the video
China's Guaranteed Bubble and How to Diffuse It
Tuesday 30th January 2018, 19.00 – 20.30
OLD 3.21, Third floor, Old Building, LSE, Houghton Street, London WC2A 2AE
In this talk, Ning Zhu discussed how government guarantees have propelled China's economic growth miracle while creating systemic risks. He gave examples of China's guaranteed bubbles and proposed solutions to diffuse the time bomb.
Banking's Final Exam
Morris Goldstein (former non-resident Senior Fellow, PIIE and former Deputy Director of the IMF's Research Department
The Chinese Paradigm of Financial Reform, Policy, and Regulation
Old 3.21, Old Building, LSE, 6.30 -8.00pm
Speaker: Hao Zhou
Based on China's specific economic development condition, institutional and technological background, a unique gradulism or dual-track reform stratefy, has been applied to China's financial market opening, financial policy design, and financial system management.
Click here for more information on the lecture.
How Global Currencies Work
13 November, Public lecture
Speaker: Barry Eichengreen
Chair: Charles Goodhart
Leaning against the wind: the last financial crisis and (?) the next
6 November, London Financial Regulation Seminar
Speaker: Philip Turner (NIESR)
Are banks still Special?
30 October, London Financial Regulation Seminar
Speaker: Tom Huertas (Ernst and Young)
The Greek Crisis, structural reforms, and Eurozone convergance
30 October: Panel Discussion
Speakers: Costas Meghir (Yale University), Christopher Pissarides (LSE), DimitriVayanos (LSE), Nikolaos Vettas (Athens University)
Discussants: Yannis Manuelides (Allen & Overy LLP) and Ricardo Reis (LSE)
Chair: Hugo Dixon (InFacts)
Financial Cycles, Asset Managers, and Economic Resilience
16 October: London Financial Regulation Seminar
Speaker: Christina Skinner (Brooklyn Law School)
Why are Banks Exposed to Monetary Policy?
11 October: Capital Markets Workshop seminar
Speaker: Pablo Kurlat (Stanford)
Toward an Understanding of Credit Cycles
9 October: London Financial Regulation Seminar
Speaker: Ray Barrell (Brunel University)
Measuring the Effects of Federal Reserve Forward Guidance and Asset Purchases on Financial Markets
4 October: Capital Markets Workshop seminar
Speaker: Eric Swanson (University of California)
Cross-border banking cooperation: From actual to optimal arrangements
2 October: London Financial Regulation Seminar
Speaker: Thorsten Beck (Cass Business School)
Financing Development on how the World Bank and other development institutions are meeting global needs
29 September: FMG Public Lecture
Speaker: Kristalina Georgieva (World Bank)
Multilateralism under Attack? UK, USA and the others
27 September, FMG Public Lecture
Speaker: Adam Posen (Peterson Institute for International Economics)
Price of Long-Run Temperature Shifts in Capital Markets
27 September, Capital Markets Workshop seminar
Speaker: Ravi Bansal (Duke)
Policy Recommendations to promote sustainable finance: the work of an EU High-Level Experts Group
25 September, London Financial Regulation Seminar
Speaker: Paul Fisher (Cambridge University)
Event on Financial Globalization
25 September, FMG Public lecture
Event hosted by FMG, McKinsey&Company and Peterson Institute for International Economics
Rethinking Central Bank Independence
22 May, London Financial Regulation Seminar
Speakers:Charles Goodhart (LSE) and Rosa Lastra (QMC)
Bank Resolution and the Structure of Global Banks
15 May, London Financial Regulation Seminar
Speaker: Martin Oehmke (LSE)
Politics and Financial Regulation: implications of the Trump administration and of populism in Europe
8 May, London Financial Regulation Seminar
Speaker: Douglas Elliott (Oliver Wyman)
Executive Remuneration - Where Do We Go from Here?
23 March, Corporate Governance Research
Speakers: Dirk Jenter (LSE) and Hans-Christoph Hirt (Hermes EOS)
In this Corporate Governance Research Debate, Dirk and Hans discuss the current state of thinking on Executive Remuneration, before a wider discussion about future policy and research work in this area.
Short-termism in Financial Markets: Fact and Frenzy
22 March, Corporate Governance Research, FMG and Law Department seminar
Speaker: Mark Roe (Harvard Law School)
Professor Mark Roe examines some of the recent claims made about the relationship between market short termism and short-termism in the boardroom, in particular, the preconditions for market short termism to be transmitted into the boardroom.
Read Professor Roe’s publication
Containing Systemic Risk by taxing Banks Properly
20 March : London Financial Regulation Seminar
Speaker: Mark Roe (Harvard Law School)
View speaker's slides
Ranking Financial Centers from the Perspective of the Real Economy: the price of going public in the UK and US
13 March: London Financial Regulation Seminar
Speaker: Kevin James (Systemic Risk Centre, LSE)
Culture, Discrimination, and Economic Exchange
7 March Public Lecture
Speaker: Daniel Paravisini
A discussion of the challenges in establishing whether, and through which mechanism, culture may affect economic exchange.
Video and podcast
Macroprudential Policy Making in Practice: The Swiss Experience
6 March, London Financial Regulation Seminar
Speaker: Jean-Pierre Danthine (Paris School of Economics)
View speaker's slides
The Great Rift: economic theory and financial disasters… how can we fix the future?
3 March, Public Lecture
Speaker: Carsten Kengeter (CEO of Deutsche Börse AG)
Nearly a decade on, the catastrophe of the global financial crisis still defines the political and economic landscape. Should we have seen it coming? Could it have been avoided? Mr Kengeter will examine these questions and their implications both for the foundations of economic theory, and for the structure of contemporary financial institutions.
Financing Growth In Bulgaria
28 February, Public Lecture
Speaker: Delyan Dobrev
As in much of Eastern Europe, Bulgaria’s growth rate after the Eurozone crisis has remained at half the previous growth rate. Efforts to increase economic prospects rely primarily on finding new ways to finance innovation and entrepreneurship.
Europe's Growth Challenge
27 February, Public Lecture
Speaker: Simeon Djankov
In the wake of the Great Recession, Europe’s economy has stagnated to a considerable degree – greater even than that of the United States.
View speaker's slides
Optimising Pay Regulations to Correct for Too-Big-To-Fail
27 February, London Financial Regulation seminar [Supported by AXA Research Fund]
Speaker: John Thanassoulis (Warwick Business School)
View speaker's slides
Transforming India: vision for the next decade
25 February, 100 Foot Journey Club event, supported by the High Commission of India, the LSE South Asia Centre and the LSE Financial Markets Group
Speaker: Indian Finance Minister Arun Jaitley
Chair: Simeon Djankov (FMG)
Discussing India's current economic and financial climate, from the government's high-profile "Make in India" campaign to its recent, radical demonetisation of Indian currency.
Listen to podcast
The Impact of Brexit on the City of London
20 February, Public Lecture (free and open to all)
Speaker: Lindsey Naylor, partner in Oliver Wyman’s Global Corporate & Institutional Banking practice
View speaker's slides
Central Bank Finances: how does their P&L matter, if at all?
20 February, London Financial Regulation seminar [Supported by AXA Research Fund]
Speaker: David Archer (Bank for International Settlements)
View speaker's slides
13 February, London Financial Regulation seminar [Supported by AXA Research Fund]
Speaker: Alex Brazier (Bank of England)
A Conversation Between Lord King and Professor Goodhart
18 January, Public Event (free and open to all)
Speakers: Mervyn King, Charles Goodhart
A special FMG event in which Lord King and Professor Goodhart will discuss the foundation and early years of the Financial Markets Group; the role and reputation of the FMG; trends in monetary and financial economics over the last 30 years; and future problems and developments for central bankers.
What Now? after Brexit, after Trump and after the resignation, economic and financial policies to lift Bulgaria's growth prospects
5 December, Public Lecture (free and open to all)
Speaker: Eva Paunova, MEP
Economic growth in Eastern Europe has been lethargic after the Eurozone crisis, with growth rates at half pre-2009 levels. What can be done to reverse this trend?
Can we have both Competitive and Stable Banking?
22 November, Public Lecture (free and open to all)
Speaker: Xavier Vives (IESE Business School, Barcelona)
Regulation can alleviate the trade-off, but not resolve it fully, which leads to a need to coordinate regulation and competition policy. This lecture will look at implications for the regulatory financial architecture and challenges for bankers, regulators and academics.
EU27 financial services policy in the wake of the Brexit decision
17 November, Public Lecture (free and open to all)
Speaker: Nicolas Véron (Bruegel & Peterson Institute for International Economics)
The UK vote of 23 June will have major implications for the EU27’s future financial services sector. Major uncertainties still abound, but it is not too soon to debate some of the policy choices the EU will face once London, its main current financial hub, leaves its internal market. The likely relocation of significant wholesale financial business from Britain to the Continent will create both risks and opportunities, and call for new directions in EU financial services regulation and supervision.
Ranking Countries on the Ease of Doing Business
16 November, Public Lecture (free and open to all)
Speaker: Rita Ramalho (Manager of the World Bank-IFC Doing Business)
Doing Business 2017: Equal Opportunity for All, a World Bank Group flagship publication, is the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies-from Afghanistan to Zimbabwe-and over time.
Restructuring Sovereign Debt after NML v Argentina
14 November, London Financial Regulation seminar [Supported by AXA Research Fund]
Speaker: Lee Buchheit (Cleary Gottlieb)
Brexit and Implications for Bulgarian Workers and Students in the UK
3 November, Public Lecture (free and open to all)
Speaker: Dr Andrey Kovachev (Member of the Presidency of the European Parliament and the Committee on Foreign Affairs, Vice-President of the Union of European Federalists)
The results of the Brexit referendum have raised questions about the future of European workers and students in the United Kingdom. Dr Kovachev will address the concerns raised, and discuss the approach European institutions are taking in the upcoming negotiations with the UK government.
17 October, London Financial Regulation seminar [Supported by AXA Research Fund]
Speakers: Emiliano Tornese (European Commission) and Maria Nieto (Banco de Espana)
Brexit: Implications for the City and for the future of European financial integration
10 October, London Financial Regulation seminar [Supported by AXA Research Fund]
Speakers: S. Djankov, T. Huertas, J.P. Landau and S. Lewis