International Development Economics Associates (IDEAs)
is hosting a two day workshop on the theme of 'Financial
Crime and Fragility under Financial Globalisation'.
The workshop is meant for about 40 participants and
is developed around the following theme (see concept
note below).
Among the speakers will be James Galbraith, Prabhat
Patnaik, Bill Black, Amiya Bagchi, Ajit Singh, C P
Chandrasekhar, Costas Lapavitsas, Dipankar Mukherji,
Kannan Srinivasan, Kavaljit Singh, Arun Agarwal, Girish
Sant, and Chalapati Rao.
Concept Note:
Financial globalisation, and the wave of financial
sector reform that it has generated, seeks to homogenise
financial structure across the globe. The justification
for this process of internationalising versions of
the so-called Anglo-Saxon financial system is that
it is efficient, rule-based, transparent and less
prone to failure. What is more, the suggestion is
that if countries approximate this ideal structure,
a minimal degree of prudential regulation (in the
form of capital adequacy norms, accounting standards,
disclosure requirements, etc.) would be adequate to
ensure healthy financial markets.
In practice, however, evidence of successful and unsuccessful
attempts by agents to circumvent regulation is routinely
reported. In fact, a substantial part of what is termed
“financial innovation” (as in the area of derivatives
trading) is merely an attempt to evade regulatory
scrutiny and control. Further, instances of conflicts
of interest, insider trading, accounting frauds and
market manipulation are an abiding feature of the
system, threatening in some cases the viability of
institutions too large to rescue. The seminar would
examine whether financial crimes of varying intensity
are the rule rather than the exception and whether,
institutionally speaking, the currently dominant “ideal”
financial structure and the regulatory forbearance
it incorporates is inherently fragile and prone to
systemic failure. If so, the contours of an alternative
need to be drawn.
Programme
Workshop entitled 'Financial
Crime and Fragility under Financial Globalisation',
Jacaranda I, India Habitat Centre, New Delhi, December
19-20th, 2005.
Registration: 9.30 am, 19th December,
Workshop Timing:10 am
to 5.30 pm
Time |
Speaker |
Title |
Moderator |
| Day 1: 19th December
|
Session
I Morning |
10 to 11.30 am |
James Galbraith |
'Modern Economic Predation:
War, Corporate Fraud, Labor Market Reform' |
Jayati Ghosh |
|
P Patnaik |
To be given later |
|
11.30 to 12. pm |
Tea Break |
12 pm to 1 pm |
Bill Black |
'When Fragile becomes Friable:
Endemic Control Fraud as a Cause of Economic
Stagnation and Collapse' |
Sushil Khanna |
1 to 2 pm |
Lunch Break
|
Session II Afternoon
|
2 pm to 3.30 pm |
C P Chandrasekhar |
'Financial Liberalisation
and Crime: Revisiting the 1992 Stock Scam' |
Sunanda Sen |
|
Costas Lapavitsas |
'Economic and Non economic
Factors in the Credit Allocation Process of
Turkish Banks' |
|
3.30 pm to 4 pm |
Tea Break |
4 pm to 5.30 pm |
Amiya Bagchi |
'Neoliberal Imperialism,
Corporate Feudalism and the Contemporary Origins
of Dirty Money' |
Prasenjit Bose |
|
Kannan Srinivasan |
'Money Laundering and Capital
Flight' |
|
|
Day
2: 20th December |
Session I Morning
|
10 to 11.30 am |
Arun K Agrawal |
'Economic Growth, financial
globalisation and low CPI (Corruption Perception
Index)' |
Prabir Purokayasthya |
|
Kavaljit Singh |
'Financial Liberalization,
Offshore Financial Centres and Financial Crime'
|
|
11.30 to 12. pm |
Tea Break |
12 pm to 1 pm |
Dipankar Mukherji |
To be given later |
Sukumar Muralidharan |
1 to 2 pm |
Lunch Break
|
Session II Afternoon
|
2 pm to 3.30 pm |
Girish Sant |
'Vulnerability of Power
Sector from Financial Globalisation' |
|
|
Ajit Singh's paper to be
presented by Partha Pratim Pal |
'Shareholder Value Maximisation,
Stock Market and New Technology: Should the
US Corporate Model be the Universal Standard?'
|
|
3.30 pm to 4 pm |
Tea Break |
4 pm to 5.30 pm |
Panel
Discussion
Chalapati Rao
Bill Black
Nirmal Chandra
Jayati Ghosh
Sunanda Sen
Prabir Purokayasthya
Sushil Khanna |
'Financial Crime and Fragility
under Financial Globalisation' |
|
December 7,
2005.
|