Against the Consensus: Reflections on the Great Recession |

Against the Consensus: Reflections on the Great Recession

Synopsis:

Prof Lin is the World Bank’s first Chief Economist to be appointed from the developing world. As his tenure began June 2008, he had a front row seat to the financial crash — and he believes current measures to prevent another crash are not enough.

In Against the Consensus (Cambridge University Press, 2013), Prof Lin offers an unorthodox perspective on the cause of the financial crisis; why it was so serious and widespread, and its likely evolution. While many point to East Asian economies as the cause of the crisis — due to their export-oriented strategies, accumulation of foreign reserves as self-insurance, and especially the undervaluation of Chinese currency — Lin instead argues that the combination of financial deregulation in the US and loose monetary policy ultimately triggered the housing bubble and its meltdown.

“Instead of simply putting out one fiscal fire after another in sovereign debt crisis countries through emergency IMF financing and other rescue packages, the G20 should provide parallel funds to multilateral development banks, including the World Bank and regional development banks, with the capacity to design and implement infrastructure investment projects,” says Prof Lin.

Speaker(s):

Prof Justin Yifu Lin, Professor and Honorary Dean, National School of Development, Peking University

Date:
Tuesday, 12 November 2013
Time:
5:15 p.m. - 6:30 p.m.
Venue:

Lobby, Oei Tiong Ham Building ,
NUS Bukit Timah Campus,
469C Bukit Timah Road,
Singapore 259772

RSVP:
Seats are limited and will be available on a first-come, first-served basis. Kindly register your interest in attending at to avoid disappointment.

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