Dr Duvvuri Subbarao, Former Governor of the Reserve Bank of India, gave a public lecture at the LKY School on 24 February on lessons from the Global Financial Crisis. Â In a wide-ranging discussion that included several lively personal anecdotes, Dr Subbarao argued that we may never be able to insulate the world from another crisis, but we can minimize their probability by understanding the forces of globalization and the changing dynamics of the financial sector.
The global financial crisis, triggered by the collapse of Lehman Brothers in September 2008, has taken a devastating toll on growth and welfare worldwide. The crisis has also been an intellectual challenge as it forced policy making into uncharted territory, tested the world's collective ability to cope with globalization and challenged many of our established beliefs and notions about managing the financial sector. Even as policy makers have been busy dousing the fires and engineering a recovery from the Great Recession, there has also been vigorous thinking both at national and international levels about the lessons of the crisis and how we may prevent another crisis.
All financial crises, it is argued, trace their origins to the same fundamental causes 'as if we learn nothing from one crisis to another'. Dr Subbarao will argue that we may never be able to insulate the world from another crisis but we will minimize its probability if we understand the forces of globalization and the changing dynamics of the financial sector and reach an agreement on global economic management.
Dr Duvvuri Subbarao, Former Governor of Reserve Bank of India
- Monday, 24 February 2014
- 5:15 p.m. - 6:30 p.m.
Oei Tiong Ham Building,
Lee Kuan Yew School of Public Policy,
469C Bukit Timah Road,
- Seats are limited and will be available on a first-come, first-served basis. Kindly register your interest in attending at to avoid disappointment.