{
  "title": "Power, Markets, and Strategy in a Changing Global Order",
  "publication": "IMF Seminars",
  "sourceUrl": "https://www.imf.org/en/news/seminars/conferences/2026/06/11/power-markets-strategy-changing-global-order",
  "canonical": "https://www.imf.org/en/news/seminars/conferences/2026/06/11/power-markets-strategy-changing-global-order",
  "overlayPath": "/en/news/seminars/conferences/2026/06/11/power-markets-strategy-changing-global-order/index.md",
  "summary": "The conference will focus on how trade, investment, finance, and regulation are deployed as instruments of power in a shifting global order.",
  "sections": [
    {
      "heading": "Conference overview",
      "content": "- Event: Power, Markets, and Strategy in a Changing Global Order.\n- Organizer: IMF Conference.\n- Location: Bangkok, Thailand.\n- Dates: June 11-12, 2026.\n- Focus: how trade, investment, finance, and regulation are deployed as instruments of power in a shifting global order; theoretical and empirical papers on when interdependence creates leverage or vulnerability; how industrial policy, supply-chain security, and technological capabilities reshape statecraft and macroeconomic outcomes."
    },
    {
      "heading": "Themes and research focus",
      "content": "- Interdependence as leverage or vulnerability in international economic relations.\n- Industrial policy and optimal technology adoption strategies.\n- Supply-chain security, technological capabilities, and geopolitical fragmentation.\n- State capacity, sovereign default, and financial statecraft.\n- Sanctions, security, and the macroeconomic implications of financial restrictions.\n- Digital finance, monetary policy, and global integration, including implications for stablecoins and fintech entry."
    },
    {
      "heading": "Program highlights and sessions (selected schedule items and exact timings)",
      "content": "- 8:30–9:00 AM\n  - Registration\n- 9:00–9:15 AM\n  - Opening Remarks; Vitai Ratanakorn, Governor, Bank of Thailand\n- 9:15–10:45 AM — Session I: Demand, Specialization, and Industrial Strategy; Chair: Nat Tharnpanich (Chulalongkorn University)\n  - Chasing Demand; Arnav Deshpande (NYU), Martin Rotemberg (NYU), Sharon Traiberman (NYU); Discussant: Juthathip Jongwanich (Thammasat University)\n  - Technology Adoption and Optimal Industrial Policy; Fernando Alvarez (University of Chicago), Francisco Buera (Washington University in St. Louis), and Nicholas Trachter (Federal Reserve Bank, Richmond); Discussant: Dan Lu (The Chinese University of Hong Kong)\n- 10:45–11:00 AM\n  - Coffee Break\n- 11:00 AM–12:30 PM — Session II: State Capacity, Default, and Financial Power; Chair: Changhua Yu (Peking University)\n  - Tax Revolts and Sovereign Defaults; Fernando Arce (Federal Reserve Bank of Chicago), Jan Morgan (Massachusetts Institute of Technology), and Nicolas Werquin (Federal Reserve Bank of Chicago); Discussant: Maxim Alekseev (The Hong Kong University of Science and Technology)\n  - Beyond Market Exclusion: Creditor Attrition After Sovereign Default; Clemens Graf von Luckner (Stanford University) and Sebastian Horn (University of Hamburg); Discussant: Jun Hee Kwak (Sogang University)\n- 12:30–2:00 PM\n  - Lunch Break\n- 2:00–3:00 PM\n  - Keynote Address; Chair: Pierre-Olivier Gourinchas (Chief Economist, International Monetary Fund); Keynote Speaker: Şebnem Kalemli-Özcan (Schreiber Family Professor of Economics, Brown University)\n- 3:00–3:15 PM\n  - Coffee Break\n- 3:15–5:30 PM — Session III: Geopolitics and Global Economic Fragmentation; Chair: Pym Manopimoke (Bank of Thailand)\n  - Multilateral Institutions and Technology Fragmentation: Lessons from the Era of Global Integration; Weili Chen (Penn State University), Jingting Fan (Cheung Kong Graduate School of Business), and Wenlan Luo (Tsinghua University); Discussant: Pao-Li Chang (Singapore Management University)\n  - The Coercive Turn Toward Swing States: Vertical Bottlenecks and the Paradox of Competitiveness; Hyungjin Kim (Korean Development Institute); Discussant: Ju Hyun Pyun (Korea University Business School)\n  - Geopolitical Barriers to Globalization; Tianyu Fan (Yale University), Mai Wo (Yale University), and Wei Xiang (University of Michigan); Discussant: Woan Foong Wong (University of Oregon)\n- 9:00–11:15 AM — Session IV: Sanctions, Security, and Financial Statecraft; Chair: Pao-Li Chang (Singapore Management University)\n  - Financial Sanctions, Sovereign Default, and Macroeconomic Implications; Vincenzo Quadrini (University of Southern California); Discussant: JungJae Park (Yonsei University)\n  - U.S. Military Protection, Allies’ Portfolios, and Exorbitant Privilege; Paolo Cavallino (Bank for International Settlements), Daniel Jimenez (Université catholique de Louvain), and Alessandro Rebucci (Johns Hopkins Carey Business School); Discussant: Changhua Yu (Peking University)\n  - International Economic Sanctions and Monetary Policy; Fabio Ghironi (University of Washington), Daisoon Kim (North Carolina State University), and Galip Kemal Ozhan (IMF); Discussant: Ippei Fujiwara (Keio University)\n- 11:15 AM–12:45 PM\n  - Lunch Break\n- 12:45–2:00 PM — Policy Panel: Policy in a World of Strategic Interdependence; Chair: Pierre-Olivier Gourinchas (Chief Economist, International Monetary Fund)\n  - Panelists: Piti Disyatat (Bank of Thailand); Selena Ling (OCBC); Albert F. Park (Asian Development Bank); Danny Quah (National University of Singapore)\n- 2:00–2:15 PM\n  - Coffee Break\n- 2:15–3:45 PM — Session V: Digital Finance, Monetary Policy, and Global Integration; Chair: Nuwat Nookhwun (Bank of Thailand)\n  - Stablecoins Meet the Mundell-Fleming Trilemma; Pablo D. Azar (Federal Reserve Bank of New York) and Maryam Farboodi (MIT Sloan School of Management); Discussant: Kanis Saengchote (Chulalongkorn Business School)\n  - Fintech Entry, Firm Financial Inclusion, and Macroeconomic Dynamics in Emerging Economies; Alan Finkelstein Shapiro (Tufts University), Federico S. Mandelman (Federal Reserve Bank of Atlanta), and Victoria Nuguer (Instituto Tecnológico Autónomo de México); Discussant: Han Qiu (Bank for International Settlements)"
    },
    {
      "heading": "Organizers, coordinators, and contact",
      "content": "- Organizing Committee:\n  - Laura Alfaro (IADB and Guest Editor, IMF Economic Review)\n  - Yan Bai (University of Rochester and Guest Editor, IMF Economic Review)\n  - Emine Boz (IMF and Co-Editor, IMF Economic Review)\n  - Jesús Fernández-Villaverde (University of Pennsylvania and Editor, IMF Economic Review)\n  - Nuwat Nookhwun (Puey Ungphakorn Institute for Economic Research, Section Head)\n  - Adrian Peralta-Alva (IMF)\n  - Nada Wasi (Puey Ungphakorn Institute for Economic Research, Research Director)\n- Conference Coordinators: Luisa Calixto and Julia Grisard (IMF)\n- Contact for submissions or logistics: IMFERSummerconf@imf.org"
    },
    {
      "heading": "Conference materials",
      "content": "- Papers and presentations approved for distribution from the conference are available for download through the link provided by the conference organizers."
    }
  ],
  "bullets": [
    "Event: Power, Markets, and Strategy in a Changing Global Order.",
    "Organizer: IMF Conference.",
    "Location: Bangkok, Thailand.",
    "Dates: June 11-12, 2026.",
    "Focus: how trade, investment, finance, and regulation are deployed as instruments of power in a shifting global order; theoretical and empirical papers on when interdependence creates leverage or vulnerability; how industrial policy, supply-chain security, and technological capabilities reshape statecraft and macroeconomic outcomes.",
    "Interdependence as leverage or vulnerability in international economic relations.",
    "Industrial policy and optimal technology adoption strategies.",
    "Supply-chain security, technological capabilities, and geopolitical fragmentation.",
    "State capacity, sovereign default, and financial statecraft.",
    "Sanctions, security, and the macroeconomic implications of financial restrictions.",
    "Digital finance, monetary policy, and global integration, including implications for stablecoins and fintech entry.",
    "8:30–9:00 AM",
    "9:00–9:15 AM",
    "9:15–10:45 AM — Session I: Demand, Specialization, and Industrial Strategy; Chair: Nat Tharnpanich (Chulalongkorn University)",
    "10:45–11:00 AM",
    "11:00 AM–12:30 PM — Session II: State Capacity, Default, and Financial Power; Chair: Changhua Yu (Peking University)",
    "12:30–2:00 PM",
    "2:00–3:00 PM",
    "3:00–3:15 PM",
    "3:15–5:30 PM — Session III: Geopolitics and Global Economic Fragmentation; Chair: Pym Manopimoke (Bank of Thailand)",
    "9:00–11:15 AM — Session IV: Sanctions, Security, and Financial Statecraft; Chair: Pao-Li Chang (Singapore Management University)",
    "11:15 AM–12:45 PM",
    "12:45–2:00 PM — Policy Panel: Policy in a World of Strategic Interdependence; Chair: Pierre-Olivier Gourinchas (Chief Economist, International Monetary Fund)",
    "2:00–2:15 PM",
    "2:15–3:45 PM — Session V: Digital Finance, Monetary Policy, and Global Integration; Chair: Nuwat Nookhwun (Bank of Thailand)",
    "Organizing Committee:",
    "Conference Coordinators: Luisa Calixto and Julia Grisard (IMF)",
    "Contact for submissions or logistics: IMFERSummerconf@imf.org",
    "Papers and presentations approved for distribution from the conference are available for download through the link provided by the conference organizers."
  ],
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  "generatedAtUtc": "2026-10-02T03:26:56.609Z"
}