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Asia: Challenges of Stability and Growth

  

The Bank of Korea (BOK), the International Monetary Fund (IMF), and the IMF Economic Review will hold a conference on “Asia: Challenges of Stability and Growth.” The conference will be hosted by the BOK and will take place in Seoul on September 26–27, 2013.

The conference is intended to provide a forum for discussing innovative research and to facilitate the exchange of views among researchers and policymakers. Eswar Prasad (Cornell University) will deliver the keynote address. The conference will conclude with a Policy Panel moderated by Olivier Blanchard (International Monetary Fund).

For questions regarding the conference, please send an email to RESASIA@imf.org.


Disclaimer

The website contains papers and web links to papers that were presented at the conference. The views expressed in these papers are those of the authors only, and the presence of them, or of links to them, on the IMF website does not imply that the IMF, its Executive Board, or its management endorses or shares the views expressed in the papers.


Asia: Challenges of Stability and Growth
Thursday, September 26, 2013

8:00-8:45 am

Registration

8:45-9:00 am

Welcoming Remarks ― Choongsoo Kim (Bank of Korea)

9:00-10:30 am

Session 1: Managing Capital Flows

Chair: M. Ayhan Kose (International Monetary Fund)

Capital Controls and Prudential Measures: What Are They Good For?

PaperRead the Paper

Kristin Forbes* (MIT-Sloan School of Management), Marcel Fratzscher (DIW and Humboldt University), and Roland Straub (European Central Bank)
PresentationSee the presentation

Discussant: James Yetman (BIS)
PresentationSee the presentation

Monetary Policy Regimes and Capital Account Restrictions in a Small Open Economy

PaperRead the Paper

Zheng Liu (Federal Reserve Bank of San Francisco) and Mark Spiegel* (Federal Reserve Bank of San Francisco)
PresentationSee the presentation

Discussant: Young Sik Kim (Seoul National University)
PresentationSee the presentation

10:30-10:45 am

***Coffee Break***

10:45-1:00 pm

Session 2: Growth

Chair: Pierre-Olivier Gourinchas (University of California, Berkeley)

Service Sector Productivity and Economic Growth in Asia

PaperRead the Paper

Jong-Wha Lee* (Korea University) and Warwick Mc Kibbin (Australian National University)
PresentationSee the presentation

Discussant: Fumio Hayashi (Hitotsubashi University)
PresentationSee the presentation

Growth Slowdowns and the Middle-Income Trap

PaperRead the Paper

Shekhar Aiyar (International Monetary Fund), Romain Duval* (International Monetary Fund), Damien Puy (European University Institute), Yiqun Wu (International Monetary Fund), and Longmei Zhang (International Monetary Fund)
PresentationSee the presentation

Discussant: Sunil Sharma (IMF Institute)
PresentationSee the presentation

Institutional Foundations of China's Growth

Chang-Tai Hsieh* (Chicago Booth), and Zheng Song (Chicago Booth)

Discussant: Carsten Holz (Hong Kong University of Science and Technology)
PresentationSee the presentation

1:00-2:30 pm

***Lunch Break***

2:45-4:15 pm

Session 3: Macroeconomic Policy

Chair: Woon Gyu Choi (Bank of Korea)

Growing (with Capital Controls) Like China

Zheng Song (Chicago Booth), Kjetil Storesletten (University of Oslo), and Fabrizio Zilibotti* (University of Zurich)
PresentationSee the presentation

PaperRead the Paper

Discussant:Hyun Jeong Kim, (Bank of Korea)
PresentationSee the presentation

Roads and the Real Exchange Rate

PaperRead the Paper

Qingyuan Du (Monash University), Shang-Jin Wei* (Columbia University), and Peichu Xie (Peking University)
PresentationSee the presentation

Discussant: Kwanho Shin (Korea University)
PresentationSee the presentation

4:15-4:30 pm

***Coffee Break***

4:30-6:00 pm

Session 4: Savings

Chair: Dangyang Xie (HKUST and Wuhan University)

Time-Series Evidence on the Impact of the Age Structure of the Population on the Household Saving Rate in Korea and India

PaperRead the Paper

Charles Yuji Horioka* (University of the Philippines) and Akiko Terada-Hagiwara (Asian Development Bank)
PresentationSee the presentation

Discussant: Jaewoo Lee (Bank of America Merrill Lynch)
PresentationSee the presentation

Fertility Policies and Social Security Reforms in China: Global Ramifications in the 21st Century

PaperRead the Paper

Nicolas Coeurdŕcier (SciencesPo Paris), and Keyu Jin* (London School of Economics and Political Science)
PresentationSee the presentation

Discussant: Donghyun Park (Asian Development Bank)
PresentationSee the presentation

Friday, September 27, 2013

8:30-9:00 am

Registration

9:00-10:30 am

KEYNOTE ADDRESS: Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies

Eswar Prasad (Cornell University and Brookings Institution)
PaperRead the paper

Introduction by Woon Gyu Choi (Bank of Korea)

10:30-10:45 am

***Coffee Break***

10:45-1:00 pm

Session 5: Rebalancing: Internal vs. External Considerations

Chair: Junil Kim (Bank of Korea)

Import Price Misalignment after the Crisis: A New Keynesian Perspective

PaperRead the Paper

Woon Gyu Choi (Bank of Korea) and David Cook* (Hong Kong University of Science and Technology)
PresentationSee the presentation

Discussant: Martin Bodenstein (National University of Singapore)
PresentationSee the presentation

Emergence of Asia: Reforms, Corporate Savings and Global Imbalances

PaperRead the Paper

Jingting Fan (University of Maryland), and Sebnem Kalemli-Ozcan* (University of Maryland and IMF)
PresentationSee the presentation

Discussant: Markus Brückner (National University of Singapore)
PresentationSee the presentation

Reserve Accumulation, Growth and Financial Crises

PaperRead the Paper

Gianluca Benigno (London School of Economics) and Luca Fornaro* (CREI)
PresentationSee the presentation

Discussant: Sunghyun Henry Kim (Sungkyunkwan University and Suffolk University)
PresentationSee the presentation

1:00-2:30 pm

***Lunch Break***

2:45-4:30 pm

Policy Panel: “Asia: Challenges of Stability and Growth”

Moderator: Olivier Blanchard (International Monetary Fund)

Panelists:

- Choongsoo Kim (Bank of Korea)
PresentationSee the presentation

- Tsutomu Watanabe (University of Tokyo)
PresentationSee the presentation

- Yukon Huang (Carnegie Endowment for International Peace)
PresentationSee the presentation

Conference Program Committee: Woon Gyu Choi (BOK), Kyuil Chung (BOK), Pierre-Olivier Gourinchas (University of California at Berkeley and Editor of the IMF Economic Review), Jun Han Kim (BOK), and Hyun Jeong Kim (BOK) and M. Ayhan Kose (IMF and Co-Editor of the IMF Economic Review).

Conference Coordinator: Tracey Lookadoo (IMF).