Global leaders, bankers, economists gather at Asian Monetary Policy Forum in Singapore

Economists, bankers and government leaders from around the world gathered today at the second annual Asian Monetary Policy Forum (AMPF) at the Pan Pacific Hotel in Singapore to discuss economic and monetary challenges facing policymakers in Asia.

The AMPF is organized under the auspices of the Asian Bureau of Finance and Economic Research (ABFER) with the support of the University of Chicago Booth School of Business, the National University of Singapore (NUS) Business School and the Monetary Authority of Singapore (MAS).

Modeled after the highly successful U.S. Monetary Policy Forum, which meets annually in New York, the AMPF offers a valuable platform for globally prominent academics, financial practitioners and policymakers to exchange views and share insights in their areas of expertise. Topics at this year’s forum include exchange rates, monetary policy and financial systems.

"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," said Chicago Booth School Professor Steven Davis, a moderator at the conference. "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."

The forum began last night with a joint ABFER/AMPF dinner in which Harvard Kennedy School of Government Professor Carmen Reinhart delivered the keynote speech assessing the state of the global economy seven years after the financial crisis, focusing on current vulnerabilities and policy issues. The dinner also marked the close of the annual ABFER conference, which was held from May 25-28.

The AMPF conference features:

  • Dr. Jacob A. Frenkel, chairman of JPMorgan Chase International, is delivering the keynote address to AMPF today, focusing on the challenges and prospects of the global economic and financial system.
  • Professor Barry Eichengreen from the University of California at Berkeley will present a commissioned paper: "Financial Development in Asia: The Role of Policy and Institutions, with Special Reference to China." The paper—which will be discussed by Professor Hélène Rey from the London Business School and Dr. Mark Spiegel from the Federal Reserve Bank of San Francisco—explores the nexus between financial development, economic and social institutions, and growth in Asia, with a particular focus on China.
  • At a lunchtime dialogue, Tharman Shanmugaratnam, Deputy Prime Minister, Minister for Finance and MAS Chairman, 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. Chicago Booth Professor Davis will moderate the discussion.
  • The afternoon segment of the AMPF consists of a panel discussion on the latest economic developments and policy issues confronting Asia, chaired by MAS Managing Director Ravi Menon. The invited panelists include noted policymakers and practitioners in their respective fields: Governor Prasarn Trairatvorakul of the Bank of Thailand; Dr. Jahangir Aziz, Head of Emerging Markets Asia Economics Research at JPMorgan Chase; 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.

"NUS Business School is honored to partner with MAS, ABFER and Chicago Booth again in bringing prominent experts and policymakers to Singapore for the AMPF annual conference," said Professor Bernard Yeung, Stephen Riady Distinguished Professor and Dean at NUS Business School. "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."

MAS Chief Economist and Assistant Managing Director (Economic Policy) Edward Robinson 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 and varied experiences, which we believe will stimulate in-depth discussions among Asian central bankers, industry players and academics, and catalyze further research into issues of mutual interest."

More information on AMPF and conference details can be found here.

For media queries, please contact: Steven Davis (steve.davis@chicagobooth.edu)

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.

For more information, please visit http://abfer.org.

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 http://www.chicagobooth.edu/.

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 organizations of high repute in the education circle that attest to the school’s highest standards for business education. For more information, please visit http://bschool.nus.edu.sg.

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 center. For more information, please visit http://www.mas.gov.sg.