Perspectives on Global Economic Developments: Achieving Growth with Financial Stability


Arguably, the unsustainable build-up of debt, in part fuelled by financial innovations, contributed to the great recession. Post-crisis, the recovery has been slow in coming. The West continues to rely heavily on loose monetary policies, while concerns over policy uncertainty and remaining financial risks, until recently, have inhibited an investments-led revival. The East responded with proactive counter-cyclical macro policies but had to also contend with excessive credit growth and asset inflation. The unfinished agenda in capital market and financial system development remains very much a concern; it has the potential to accentuate resources mis-allocation and poise a threat to overall macroeconomic stability. The major economies in the East, e.g., China, Japan, and India, are also launching structural reforms, including efforts to strengthen their financial systems. In this context of easy money and structural changes and challenges, our eminent panel will share their views on the prospects for the global economy, the critical risk factors we need to be aware of, and the key considerations relevant to long-term growth, particularly for Asia

Date Venue Time
05 September 2014 (Friday) The Pan Pacific Singapore, Pacific 3 Ballroom
7 Raffles Boulevard, Marina Square
Singapore 039595
3.30pm to 6.00pm
Opening Remarks

Prof Tan Chorh Chuan (Chairman of the ABFER Advisory Council and President of NUS)

Panel Discussion: Perspectives on Global Economic Developments:

Achieving Growth with Financial Stability and Q&A


  • Sir Howard Davies (Chairman of the Phoenix Group, ABFER Council Member)
  • Mr Piyush Gupta (CEO DBS and ABFER Council member)
  • Professor Masaaki Shirakawa (ex-governor, BOJ and ABFER Council member)
  • Dr Duvvuri Subbarao (ex-governor, RBI and ABFER Council member)


  • Prof Ilian Mihov (Dean of INSEAD and Vice President of ABFER)

Concluding Remarks

Prof Bernard Yeung (President of ABFER Executive Committee and Dean of NUS Business School)


Panelists, Speakers and Moderator

  • Sir Howard Davies (Panelist)

    Sir Howard Davies (Panelist)


    Chairman of the Phoenix Group, ABFER Council member

    Howard Davies was appointed Chairman of the Board of Directors of the Phoenix Group on 1 October 2012. Howard is the Chair of the British Government's Airport Policy Review. He also is a Professor of Practice at the French School of Political Science in Paris (Sciences Po). He was previously the Director of the London School of Economics and Political Science from 2003 until May 2011. Prior to this appointment he was chairman of the UK Financial Services Authority from 1997 to 2003.

    From 1995 to 1997 he was Deputy Governor of the Bank of England, after three years as the Director General of the Confederation of British Industry. Earlier in his career he worked in the Foreign and Commonwealth Office, the Treasury, McKinsey and Co, and as Controller of the Audit Commission.

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