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' |
|