International Workshop on ‘New Directions in Financial Regulation organised by International Development Economics Associates (IDEAs) and the Centre for Banking Studies, Central Bank of Sri Lanka, Colombo, Sri Lanka, 22-26 November, 2011

IDEAs, in association with the Centre for Banking Studies (CBS) of the Central Bank of Sri Lanka, organised a workshop on ”New directions in financial regulation” over 22-26 November in Colombo, Sri Lanka.

The workshop will discuss some of the important proposals for regulating finance and the actual changes in laws and regulatory instruments that have been introduced in different countries in the wake of the global financial crisis of 2007-08 and the Great Recession that followed. Eminent economists, central bankers and researchers who have participated in global discussions on regulatory reform will discuss the various alternatives for regulation of different aspects of financial activities and the actual implementation in different contexts. A major focus of the discussions will be on the implications of such measures for financial and economic processes in developing Asia.

The workshop is primarily intended for those involved in monetary and financial regulation and economic policies in Asia. Participants will be dominantly those nominated by the Central Banks of their respective countries.

In addition, IDEAs may be able to sponsor (in part or full) the participation of a very limited number of young scholars and policy makers interested in these issues. Interested scholars are requested to send applications to Deepanwita Dutta at ddutta2109@gmail.com by October 21, 2011. They should provide a CV, a short statement of around 500 words on their interest in the subject of the workshop, and a letter of support from a senior colleague or academic supervisor.

The programme of the workshop follows below:

DAY 1: November 22, 2011 (Tuesday) 

9.00 am – 10.15 am

Inaugural Session
Opening Remarks: CBS representative and IDEAs representative
Inaugural Address: Ajith Nivard Cabraal, Governor, Central Bank of Sri Lanka
Inaugural Remarks: Y. V. Reddy, K. S. Jomo, Leonardo Burlamaqui

10:15 am – 11:30 am
Leonardo Burlamaqui: ”The New Phase of the Financial Crisis and its Implications for Reforming Global Finance”

11.45 am – 1.15 pm
Jan Kregel: ”The Dodd-Frank Bill and Financial Reform in the US” (Presentation)

2.15 pm – 3.45 pm
Mario Tonveronachi: ”Basel 3 Norms and the Control of Financial Fragility” (Presentation)

4.00 pm – 6.00 pm
Panel Discussion (Open to interested public)
”How ‘Reformed’ is International Finance?”
Jan Kregel, Mario Tonveronachi, C.P. Chandrasekhar, Economist from Sri Lanka

DAY 2: November 23, 2011 (Wednesday)

10.00 am – 11.30 am
K. S. Jomo: ”Perspective of the UN Commission on Reforms of the International Monetary and Financial System” (Presentation)

11.45 am – 1.15 pm
Y. V. Reddy: ”Role of Central Banks in New International Context” (Note)

2.15 pm – 3.45 pm
Breakout Session for participants to discuss specific topics (4 groups)

4.00 pm – 6.00 pm
Panel Discussion (Open to interested public)
”Developing Countries and the Global Economy Today”
YV Reddy, KS Jomo, W.D. Lakshman, Economist from Sri Lanka

DAY 3: November 24, 2011 (Thursday) 

10.00 am – 11.30 am
C.P. Chandrasekhar: ”The Debate on Financial Regulation: Some lessons for Asia”(Presentation)

11.45 pm – 1.15 pm
Jayati Ghosh: ”Financial Regulation and Commodity Markets”

2.15 pm – 3.45 pm
Breakout Session for participants to discuss specific topics (4 groups)

4.00 pm – 6.00 pm
Panel Discussion (Open to interested public)
”Financial Markets and the State”
Leonardo Burlamaqui, Prabhat Patnaik, Economist from Sri Lanka, Jayati Ghosh

DAY 4: November 25, 2011 (Friday) 

10.00 am – 11.30 am
Prabhat Patnaik: ”Finance and the Contemporary World Economy” (Note)

11.45 pm – 1.15 pm
Presentations by participants

2.15 pm – 3.45 pm
Presentations by participants

4.00 pm – 6.00 pm
Closing Session

DAY 5: November 26, 2011 (Saturday)

Optional day trip to Kandy (All day)