The Danish Institute for International Studies (DIIS) and the Ministry of Foreign Affairs of Denmark have the pleasure of inviting you to a conference on:
Reforming the Bretton Woods Institutions
16-17 September 2009
Danish Institute for International Studies
Main Auditorium
Strandgade 71, ground floor, 1401 Copenhagen K
Background
In November 2008, an international policy process of huge potential significance for the future livelihoods of people throughout the world was initiated by the G-20 countries. The November 2008 summit was followed by a G-20 summit in London in April earlier this year – and now the third summit is rapidly approaching: G-20 leaders will meet in Pittsburgh, Pennsylvania, on 24-25 September.
One of the main topics on the agenda will be how to reform the Bretton Woods institutions, both in terms of mandate, scope and governance. Many hope for a new era in international economic governance. Some have even advocated that the ongoing G-20 deliberations ought to lead to a “Bretton Woods II” agreement.
The general economic background for these efforts is well-known: In addition to job losses at a scale unseen in decades in the US and many European countries, as well as in large export-dependent economies such as China and Japan, there are huge risks in terms of poverty in low-income countries. The population suffering from poverty in Africa has already increased by 50 million, according to estimates by the World Bank, despite the fact that the impact of the global financial crisis on Africa is most likely only in its early phases.
There is generally a strong sense of urgency, in other words. There also appears to be a determination to co-operate internationally and to take bold measures. But the crucial question is: Do we have the insight and the ideas that are necessary to devise modes of global economic governance that may ensure global prosperity and sustainable development in the future?
The Copenhagen Conference on Reforming the Bretton Woods institutions bring together young researchers from across the world to discuss how global economic governance should be reformed in order to establish the foundation for a more stable and resilient world economy in the future.
The conference is opened by Dr. Per Stig Møller, Minister of Foreign Affairs of Denmark, on 16 September. In addition to a range of presentations by young researchers, the conference features three highly-esteemed international keynote speakers:
Robert Wade is Professor of Political Economy at London School of Economics and Political Science. He has written extensively on international financial regulation, starting with a number of publications on the financial crisis in East Asia in the late 1990s. His publications on the current global financial crisis include “The First World Debt Crisis of 2007-2010 in Global Perspective” (Challenge, July/August 2008) and “Global Imbalances and Global Reorganizations” (Cambridge Journal of Economics, 2009). Wade is the 2008 winner of the ‘Leontief Prize for Advancing the Frontiers of Economic Thought’ and since 2006 officially among the ‘50 most influential economists of the world’ as identified by Financial Times.
Leonard Seabrooke is Professor in International Political Economy and Director of the Centre for the Study of Globalisation and Regionalisation at Warwick University, UK. Seabrooke is Director of Studies of the Warwick Commission on International Financial Reform. His publications include US Power in International Finance (Palgrave, 2001), and Everyday Politics of the World Economy (Cambridge University Press, 2007). Seabrooke is co-editor of the international peer-reviewed journal Review of International Political Economy and co-editor of the Routledge ‘Studies in Global Political Economy’ book series.
Robert Boyer is Senior Researcher at National Center for Scientific Research (CNRS) in Paris, and the leading figure in the Regulation School of political economy. Robert Boyer has pioneered in the study of globalization and its effects on national economies. Boyer gave the keynote address at the 2009 Annual Conference of the Society for the Advancement of Socio-Economics (SASE), “Anticipating and Understanding the Present Crisis: the Contributions of Socio-Economics and Financial History.” His publications include Regulation Theory: The State of the Art (with Y. Saillard; Routledge, 2002); Contemporary Capitalism: Embeddedness of Institutions (with J. R. Hollingsworth; Cambridge UP, 1997); The Future of Economic Growth (Elgar, 2004); and States against Markets: Limits of Globalization (with D. Drache; Routledge, 1996).
Programme
Wednesday, 16 September
09.00-10.00 Registration
10.00-10.15 Conference Opening
Dr. Per Stig Møller, Minister of Foreign Affairs of Denmark
10.15-10.30 Welcome and Introduction
Georg Sørensen, Professor, Chairman of the Board of DIIS
10.30-11.30 Keynote Address: From Global Imbalances to Global
Reorganizations:Steps Towards a More Stable and Equitable
Global Financial System
Robert Wade, Professor, London School of Economics, UK
11.45-13.00 Redesigning Bretton Woods – Reform Proposals in Historical
Perspective
11.45-12.15 Back to Which Bretton Woods? Liquidity and Clearing as
Alternative Principles for Reforming International Finance.
Luca Fantacci, University of Bocconi, Italy
12.15-12.45 Towards a New Bretton Woods? The Global Governance of
Finance since the 1970s: Problems and Prospects
Thomas Kalinowski, Ewha University, South Korea
12.45-13.00 Discussion
Chair: Robert Boyer, National Centre for Scientific Research, Paris
13.00-14.00 Sandwich Lunch for Speakers and Participants
14.00-15.15 Geo-political Perspectives on Reforming Global Economic
Governance
14.00-14.30 The Geo-Political Order and the Future of the Bretton
Woods System
Christopher Balding, Peking University HSBC School of
Business, China
14.30-15.00 Global Economic Governance: the Role of China and Japan
Yuka Kobayashi, University of London, UK
15.00-15.15 Discussion
Chair: Lars Engberg-Pedersen, Senior Researcher, DIIS
15.30-16.45 Regulatory Responses and the G20: Empirical Evidence
so far
15.30-16.00 IMF Reforms: Some Pragmatic Considerations
Anurag Srivastava, Center for Trade and Development, India
16.00-16.30 Regulatory Reactions to the Global Credit Crisis
Eleni Tsingou, University of Warwick, UK
16.30-16.45 Discussion
Chair: Jakob Vestergaard, Project Researcher, DIIS
17.00-18.00 Keynote Address: International Financial Reform: Preliminary
Findings of the Warwick Commission
Leonard Seabrooke, Professor, University of Warwick, UK
Discussant
Finn Østrup, Professor, Copenhagen Business School (CBS), Denmark
Thursday, 17 September
08.15-10.00 The Post-crisis Policy Framework
08.15-08.45 ‘Sudden Stop’ Responses in Emerging Markets. Policy
Recommendations
Eduardo Cavallo, Inter-American Development Bank, US
08.45-09.15 Mitigating the Global Financial Crisis: A Reform Agenda for the
Bretton Woods Institutions
Amayo Kingsley, Igbinedion University, Nigeria
09.15-09.45 The Emerging Economy Challenge to the Post-Crisis IMF
Policy Framework: An Optimistic View
Aniket Bhushan, The North-South Institute, Canada
09.45-10.00 Discussion
Chair: Leonard Seabrooke, Professor, University of Warwick, UK
10.15-11.30 Challenging ‘Universalism’ in Development Policy Thinking
10.15-10.45 Reforming Bretton Woods Institutions: A Shift From
Institutional Monocropping and Monotasking.
Paul Omoyefa, National University of Lesotho, Lesotho
10.45-11.15 The Developmental State: Lodestar or Illusion?
Kevan Harris, Johns Hopkins University, US
11.15-11.30 Discussion
Chair: Stefano Ponte, Senior Researcher, DIIS
11.45-13.00 NGO and Citizen Perspectives on Global Economic Governance
11.45-12.15 Crisis and Recession: What Comes Next?
Julio Garin, University of Notre Dame, US
12.15-12.45 The Bretton Woods Institutions and the Eradication of Odious
Sovereign Contracts
Yvonne Wong, Harvard University, US
12.45-13.00 Discussion
Chair: Peter Gibbon, Senior Researcher, DIIS
13.00-14.00 Sandwich Lunch for Speakers and Participants
14.00-15.15 Reforming Lending Practices?
14.00-14.30 New Forms of Power in Post-Neoliberal Development Policy:
A Case Study of Evolving World Bank Lending Practices in
Argentina
Abilene Pitt, Oxford Brookes University, UK
14.30-15.00 Accomplishments and Limitations of the Recent Reforms in the
IMF’ s Lending Facilities and Conditionality Results of the
Empirical Evidence
Pablo Nemiña, University of Buenos Aires, Argentina
15.00-15.15 Discussion
Chair: Michael Friis Jensen, Project Senior Researcher, DIIS
15.30-17.00 Panel Discussion: Steps Towards a More Stable and Equitable
Global Financial System
17.00-18.00 Keynote Address: Strong and New Interdependence but still
Contrasted Approaches to the Ways out of the Crisis:
Why it is so Difficult to Build a New International System
Robert Boyer, National Centre for Scientific Research, Paris
18.00- Conference Closing with Drinks Reception
Practical Information
The seminar will be held in English.
Participation is free of charge and includes lunch, but registration is required.
Registration is closed. |
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