Federal Reserve Bank of San Francisco

Economic Research

Asia and the Global Financial Crisis Federal Reserve Bank of San Francisco Santa Barbara, California October 19-20, 2009

October 19, 2009

The Federal Reserve Bank of San Francisco inaugurated its Asia Economic Policy Conference series with a conference on “Asia and the Global Financial Crisis.” The conference welcomed central bank officials and other experts from around the world to share their views on linkages across the Pacific and the appropriate macroeconomic and regulatory responses to the crisis.

Conference Volume (full pdf)
Contents
Foreword
  Janet L. Yellen, President and CEO, Federal Reserve Bank of San Francisco
Conference Summary
  Reuven Glick, Group Vice President, Federal Reserve Bank of San Francisco
  Mark M. Spiegel, Vice President, Federal Reserve Bank of San Francisco
Welcome Address: Asia and the Global Financial Crisis
  Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System
  General Discussion
The Impact of the Financial Crisis on Emerging Asia
  Morris Goldstein, Dennis Weatherstone Senior Fellow, Peterson Institute for International Economics
  Daniel Xie, Research Assistant, Peterson Institute for International Economics
  Commentary
  Michael Mussa, Senior Fellow, Peterson Institute for International Economics
  General Discussion
Lessons from Asian Financial Experience
  Anne O. Krueger, Professor of International Economics, Paul H. Nitze School of Advanced International Studies, Johns Hopkins University
  Commentary
  Andrew Sheng, Chief Adviser, China Banking Regulatory Commission
  General Discussion
Global Imbalances and the Financial Crisis: Products of Common Causes
  Maurice Obstfeld, Class of 1958 Professor of Economics, University of California, Berkeley
  Kenneth Rogoff, Professor of Economics and Thomas D. Cabot Professor of Public Policy, Harvard University
  Commentary
  Ricardo J. Caballero, Ford International Professor of Economics, Massachusetts Institute of Technology
  Commentary
  Jacob Frenkel, Chairman and Chief Executive Officer, Group of Thirty
  General Discussion
Keynote Address: Reforming the Global Financial Architecture
  Andrew Crockett, President, JPMorgan Chase International
  General Discussion
Fire, Flood, and Lifeboats: Policy Responses to the Global Crisis of 2007–09
  Takatoshi Ito, Professor, Graduate School of Economics, University of Tokyo
  Commentary
  Frederic Mishkin, Alfred Lerner Professor of Banking and Financial Institutions, Columbia Business School
  General Discussion
Panel Discussion: Experiences with the Crisis
The Global Financial Crisis: Impact on Asia and Policy Challenges Ahead
  Heng Swee Keat, Managing Director, Monetary Authority of Singapore
Global Financial Crisis and the Korean Economy
  Kyungsoo Kim, Deputy Governor and Director General, Institute for Monetary and Economic Research, Bank of Korea
Global Financial Crisis: Japan’s Experience and Policy Response
  Takafumi Sato, former Commissioner, Financial Services Agency, Japan
  Panel: General Discussion
The Financial Crisis and Global Policy Reforms
  Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley
  Commentary
  Anil K. Kashyap, Edward Eagle Brown Professor of Economics and Finance, University of Chicago Booth School of Business
  General Discussion
Closing Remarks: Asia, the Financial Crisis, and Global Economic Governance
  John Lipsky, First Deputy Managing Director, International Monetary Fund
  General Discussion
Contributors
Conference Participants

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