Media Releases
Published Date: 06 November 2017

Internationally renowned economist Ross Levine appointed MAS Term Professor at NUS

Monetary Authority of Singapore                                National University of Singapore

Singapore, 6 November 2017… The National University of Singapore (NUS) and the Monetary Authority of Singapore (MAS) have jointly appointed Professor Ross Levine as the MAS Term Professor in Economics and Finance from 6 to 17 November 2017. Prof Levine will be hosted by the NUS Faculty of Arts and Social Sciences’ Department of Economics and the Economic Policy Group at the MAS during the term of the Professorship.

Prof Ross Levine is the Willis H. Booth Chair in Banking and Finance at the Haas School of Business, University of California, Berkeley. He is also Senior Fellow at the Milken Institute, Research Associate at the National Bureau of Economic Research, a member of the Council on Foreign Relations, and a member of the Advisory Scientific Committee of the European Systemic Risk Board. He worked at the Board of Governors of the Federal Reserve System and subsequently at the World Bank. Prof Levine has advised governments, central banks, regulatory agencies, and multilateral organisations.

A prolific researcher with publications in top economics and finance journals, Prof Levine’s work focuses on how financial sector policies and the operation of financial systems shape economic growth, entrepreneurship, and economic prosperity. Two of his books, Rethinking Bank Regulation: Till Angels Govern and Guardians of Finance: Making Regulators Work for Us, stress that regulatory policies often encourage excessive risk-taking and destabilise the global financial system, with deleterious effects on living standards.

Prof Robbie Goh, Dean, NUS Faculty of Arts and Social Sciences, said, “We are very pleased to welcome Prof Ross Levine to NUS and the Faculty of Arts and Social Sciences. Prof Levine is one of the most highly cited economists in the world, with extensive scholarship in international finance, banking regulation and economic development. His appointment will contribute towards building up research capabilities and intellectual capacity in international finance, banking and related issues at the University. We look forward to the exchange of ideas and sharing of knowledge with Prof Levine in the coming weeks.”

Mr Edward Robinson, Assistant Managing Director (Economic Policy) and Chief Economist at MAS, said, “Prof Ross Levine’s extensive and highly regarded research on financial regulation, economic development and entrepreneurship is most relevant to economic and financial policy work in Singapore. His seminal work on the causal nexus between financial development and economic growth has strongly influenced the profession’s views on the issue. Policymakers and empirical researchers have most certainly benefitted from his important work on measuring the evolution of financial systems. His latest book on Guardians of Finance provides an incisive analysis of the shortcomings in the institutional structure of financial regulation that led to the Global Financial Crisis, including the behavioural incentives that affect the decisions of regulators. It is a great privilege to welcome him as the MAS Term Professor and we look forward to a productive exchange of ideas with, and learning from, such a distinguished scholar.”

Prof Levine will deliver a public lecture at NUS on ‘How U.S. Financial Regulatory Reform Threatens Global Prosperity’ on 10 November 2017. He will also conduct a research seminar on campus titled ‘Entrepreneurship, Human Capital, and Liquidity Constraints’ on 13 November 2017. In addition, Prof Levine will hold dialogue sessions with NUS faculty members to discuss his latest research findings and advise PhD students on their research. At MAS, Prof Levine will engage senior policymakers, economists, and bank regulators on macroeconomic and financial regulation issues.

About the MAS Term Professorship in Economics and Finance

First established in 2009, the MAS Term Professorship in Economics and Finance is awarded to distinguished scholars, who are appointed as Visiting Professors at either the NUS Business School or the Department of Economics at the NUS Faculty of Arts and Social Sciences. It aims to strengthen Singapore’s economics and financial research infrastructure and contribute to a vibrant research community and culture at local universities.

The MAS Term Professorship in Economics and Finance has been awarded to 17 distinguished scholars over the last eight years.

About National University of Singapore (NUS)

A leading global university centred in Asia, the National University of Singapore (NUS) is Singapore’s flagship university, which offers a global approach to education and research, with a focus on Asian perspectives and expertise.
NUS has 17 faculties and schools across three campuses. Its transformative education includes a broad-based curriculum underscored by multidisciplinary courses and cross-faculty enrichment. Over 38,000 students from 100 countries enrich the community with their diverse social and cultural perspectives. NUS also strives to create a supportive and innovative environment to promote creative enterprise within its community. 
NUS takes an integrated and multidisciplinary approach to research, working with partners from industry, government and academia, to address crucial and complex issues relevant to Asia and the world. Researchers in NUS’ Schools and Faculties, 30 university-level research institutes and centres, and Research Centres of Excellence cover a wide range of themes including: energy, environmental and urban sustainability; treatment and prevention of diseases common among Asians; active ageing; advanced materials; risk management and resilience of financial systems. The University’s latest research focus is to use data science, operations research and cybersecurity to support Singapore's Smart Nation initiative.

For more information on NUS, please visit .

About Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. As central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore’s exchange rate, official foreign reserves, and liquidity in the banking sector. As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.

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