The Second Asian Monetary Policy Forum Addresses Regional Financial Issues
Singapore, 29 May 2015…The second Asian Monetary Policy Forum (AMPF) takes place in Singapore today at the Pan Pacific Hotel. Held in conjunction with the annual conference of the Asian Bureau of Finance and Economic Research (ABFER), the Forum is co-organised and funded by the University of Chicago Booth School of Business, the National University of Singapore (NUS) Business School and the Monetary Authority of Singapore (MAS).
2 The AMPF offers a valuable platform for globally prominent academics, financial practitioners and policymakers to discuss monetary policy issues in the Asian context. The conference allows participants to exchange views and share insights in their areas of expertise, with the aim of raising the level of intellectual discourse on economic and monetary challenges confronting Asian policymakers.
3 A joint ABFER/AMPF dinner last night marked the close of the annual ABFER conference held from 25–28 May 2015, as well as the official opening of the AMPF. In her dinner keynote speech, Professor Carmen Reinhart from the Harvard Kennedy School of Government assessed the state of the global economy seven years after the financial crisis, focusing on current vulnerabilities and policy issues.
4 Dr Jacob Frenkel, Chairman of JP Morgan Chase International, will tackle the challenges and prospects confronting the global economic and financial system in his keynote address to the AMPF today. This is followed by the presentation of a commissioned paper by distinguished economist Professor Barry Eichengreen from the University of California at Berkeley. His paper on “Financial Development in Asia: The Role of Policy and Institutions, with Special Reference to China” will be discussed by Professor Hélène Rey from the London Business School and Dr Mark Spiegel from the Federal Reserve Bank of San Francisco. This paper explores the nexus between financial development, economic and social institutions, and growth in Asia, with a particular focus on China.
5 A lunchtime dialogue with Mr Tharman Shanmugaratnam, Deputy Prime Minister, Minister for Finance and MAS Chairman, and Professor Steven Davis from the University of Chicago Booth School Of Business features prominently in the AMPF programme. DPM Tharman will share his perspectives on the global and Singapore economies, drawing from his experiences as Chairman of the IMF’s International Monetary and Financial Committee. The afternoon segment of the AMPF consists of a panel discussion on the latest economic developments and policy issues confronting Asia, chaired by Mr Ravi Menon, MAS Managing Director. The invited panellists are outstanding policymakers and practitioners in their respective fields, and include Governor Prasarn Trairatvorakul of the Bank of Thailand, Dr Jahangir Aziz, Head of Emerging Markets Asia Economics Research in JP Morgan, Mr Bert Hofman, Country Director for China, Mongolia and Korea at the World Bank, and Dr Wei Shang-Jin, Chief Economist and Director General at the Asian Development Bank.
6 Professor Steven Davis remarked that “the AMPF has quickly emerged as major forum for discussion and analysis of monetary and financial issues facing policymakers in Asia, and around the world. Chicago Booth is extremely pleased to work with the NUS Business School and the Monetary Authority of Singapore in bringing this event together. The dialog among policymakers, market participants, business leaders and researchers will provide valuable insights for all and new impetus for research on monetary policy and financial regulation.”
7 Professor Bernard Yeung, Dean and Stephen Riady Distinguished Professor NUS Business School, said: “NUS Business School is honoured to partner with MAS, ABFER and Chicago Booth again in bringing prominent experts and policymakers to Singapore for the AMPF annual conference. In the context of Asia's rising significance and global connectedness, such knowledge sharing between the East and the West will help practitioners, policy decision-makers and academics to develop policies with impact, management knowledge and research.”
8 Mr Edward Robinson, Assistant Managing Director (Economic Policy) & Chief Economist, MAS, said: “MAS is delighted that this second year of the AMPF continues to attract renowned scholars and distinguished individuals to share rich perspectives from their respective vantages. The topics addressed this year, on exchange rates, monetary policy and financial systems, are extremely relevant and timely. The region’s open economies offer varied experiences, which we believe will stimulate in-depth discussions among Asian central bankers, industry players and academics, and catalyse further research into issues of mutual interest.”
About the ABFER
ABFER intends to create a virtual and independent network of high-quality academics akin to the National Bureau of Economic Research and Centre for Economic Policy Research, as well as hold conferences and workshops. Its objectives include:
- To promote Asia-Pacific oriented financial and economic research at local, regional and international levels;
- To connect globally prominent academic researchers, practitioners and public policy decision-makers on Asia-Pacific related financial and economic issues; and
- To enhance the research capabilities and development of strong clusters of finance and economic research groups in academic institutions and other institutions in Singapore and Asia-Pacific.
About the University of Chicago Booth School of Business
The University of Chicago Booth School of Business is consistently ranked among the top business schools in the world, having produced leaders who have shaped the world of business since 1898. Among Chicago Booth’s renowned faculty are seven Nobel Prize winners, and its graduates include dozens of notable business leaders across the U.S. and worldwide.
As part of the world-renowned University of Chicago, Chicago Booth shares the university’s core values that shape its distinctive intellectual culture. Its rigorous, discipline-based approach to business education transforms students into effective and respected business leaders who are prepared to meet the challenges of today’s business environment. For more information, please visit .
About NUS Business School
NUS Business School is known for providing management thought leadership from an Asian perspective, enabling its students and corporate partners to leverage global knowledge and Asian insights. The school has consistently received top rankings in the Asia-Pacific region by independent publications and agencies.
The school is accredited by AACSB International (Association to Advance Collegiate Schools of Business) and EQUIS (European Quality Improvement System), and is a member of the GMAC Council, Executive MBA Council, Partnership in Management (PIM) and CEMS (Community of European Management Schools) – endorsements and affiliation with organisations of high repute in the education circle that attest to the school’s highest standards for business education. For more information, please visit .
About Monetary Authority of Singapore (MAS)
As Singapore's central bank, MAS promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities. It manages Singapore's exchange rate, foreign reserves and liquidity in the banking sector. MAS is also an integrated supervisor overseeing all financial institutions in Singapore, adopting a consistent and progressive regulatory and supervisory approach and framework to ensure a level playing field across all market segments, sectors and activities. With its mandate to foster a sound and progressive financial services sector, MAS also helps shape Singapore's financial industry by promoting a strong corporate governance framework and close adherence to international accounting standards. MAS ensures that Singapore's financial industry remains vibrant, dynamic and competitive by working closely with other government agencies and financial institutions to develop and promote Singapore as a regional and international financial centre. For more information, please visit .