13th Annual Conference
Academic Luncheon Keynote by Professor Ross Levine
Why We Keep Choosing Bad Policies
Drawing on economics, political science, psychology, and philosophy, this talk argues that persistent policy failure reflects structural forces rather than ignorance or corruption. Policymakers and citizens disagree on goals, face irreducible uncertainty about conditions and policy effects, and operate within cognitive and political systems that reward simple, confident narratives over complex trade-offs. Using financial regulation and inequality as examples, the talk offers a framework for understanding why bad policies persist—and lessons for economists.
2026
Conrad Singapore Orchard, 1 Cuscaden Rd, Singapore 249715
Speakers
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Professor Ross LEVINE
Booth Derbas Family/Edward Lazear Senior Fellow, Hoover Institution, Stanford University and Senior Fellow, ABFER
Ross Levine is the Booth Derbas Family/Edward Lazear Senior Fellow at the Hoover Institution and co-director of Hoover’s Financial Regulation Working Group. He is a founding member of the Hoover Program on the Foundations for Economic Prosperity. Levine is also a Research Associate at the National Bureau of Economic Research. Prior to joining Hoover, Levine was a faculty member at the University of California, Berkeley’s Haas School of Business.
Levine’s research explains how financial regulations and the functioning of financial systems influence economic prosperity, including growth, stability, technological innovation, entrepreneurship, job opportunities, poverty, income distribution, and the environment. Besides authoring or editing six books, he has published nearly 200 articles in leading economics, finance, and management journals.
Two of his books, Rethinking Bank Regulation: Till Angels Govern and Guardians of Finance: Making Regulators Work for Us, along with numerous articles, highlight the complexities of regulatory policies. He demonstrates that these policies often hinder competition, disrupt the efficient allocation of capital, and promote excessive risk-taking, which negatively impacts living standards.
Levine’s research resonates beyond academia, shaping dialogue and policies at major international institutions like the World Bank, International Monetary Fund, and European Central Bank. He serves as an advisor to central banks and regulatory authorities worldwide, and his work has been highlighted in leading media outlets such as the Wall Street Journal, Financial Times, The Economist, The Washington Post, and Barron’s.
Having earned a BA from Cornell University and a PhD in economics from UCLA, Levine worked at the Board of Governors of the Federal Reserve System and the World Bank, where he conducted and managed research and operational programs. In addition to his research and policy contributions, Levine has received several teaching awards at Berkeley, Brown University, and the University of Virginia. -
Professor Bernard YEUNG
Emeritus Professor, Department of Finance and Department of Strategy and Policy, NUS Business School, National University of Singapore and Council Member of ABFER
Bernard Yeung is an Emeritus Professor in the Department of Finance and Department of Strategy and Policy at the National University of Singapore (NUS) Business School. He was Dean of NUS Business School from June 2008 to May 2019. Before joining NUS, he was the Abraham Krasnoff Professor in Global Business, Economics, and Management at New York University (NYU) Stern School of Business and the Director of the NYU China House. From 1988 to 1999, he taught at the University of Michigan and at the University of Alberta from 1983 to 1988.
Professor Yeung has published widely in top-tier academic journals covering topics in Finance, Economics, and Strategy. His citations exceed 27,000.
He was awarded the Public Administration Silver Medal (2018) in Singapore, Irwin Outstanding Educator Award (2013) from the Academy of Management, and is an elected Fellow of the Academy of International Business.
Professor Yeung was a member of the Economic Strategies Committee in Singapore (2009), a member of the Social Science Research Council (SSRC) in Singapore (2016-2018), and a member of the Financial Research Council of the Monetary Authority of Singapore (2010 -2013).
Professor Yeung sits on the Advisory Committee of the Institute of Economics, Academia Sinica. Professor Yeung also serves as an Independent Non-Executive Director of the Bank of China (BOC) Aviation Limited since 2016 and the Advisory Board of Healthway Medical Corporation Ltd.
Professor Yeung received his Bachelor of Arts in Economics and Mathematics from the University of Western Ontario and his MBA and Ph.D. degrees from the Graduate School of Business at the University of Chicago.
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Session Format
30 minutes of keynote speech and 20 minutes for Q&A.
