Structural Reforms, Inequality, and Growth
imf seminars event
DATE: October 9, 2015
11:00 AM - 12:30 PM Lima Time
LOCATION: National Museum - Auditorio Los Incas
OverviewThere is concern about the global growth environment: there is fear of secular stagnation in advanced economies and worry about slowing potential in key emerging markets. Countries recognize that structural reforms are needed to raise medium-run growth prospects. Yet they sometimes hold back because there are winners and losers from reforms in the short run, making reforms difficult to sell politically. What does the cross-country experience tell us about the impact of structural reforms on income distribution and growth in the short run and medium run? What are the lessons? Are countries justified in their optimism about the positive growth impacts of structural reforms and their fears about the negative distributional impact? Are there better ways to design structural reforms than in the past? This session will examine the reforms needed across the spectrum—product market regulation, labor market reforms, education, public sector efficiency—to boost global growth prospects. It will also explore past experiences to draw lessons for reform design in terms of its impact on both growth and equity.
Structural Reforms, Inequality, and Growth
Moderator: Michelle Fleury
Michelle Fleury is the BBC's New York Business Correspondent and one of the leading reporters in North America for BBC World News. She has covered American business and economics for more than 10 years, and has extensive experience covering the Federal Reserve, the IMF, World Bank and the World Economic Forum in Davos. Before moving to New York, she worked as a producer at the BBC's headquarters in London. She graduated from Warwick University.
Min Zhu was appointed Deputy Managing Director of the International Monetary Fund on July 26, 2011. Previously he was a Deputy Governor of the People’s Bank of China, responsible for international affairs, policy research, and credit information. He served as the Group Executive Vice President of Bank of China before joining the country’s Central Bank. He also worked at the World Bank and taught economics at both Johns Hopkins University and Fudan University. He holds a Ph.D. from Johns Hopkins University.
Winnie Byanyima has been Executive Director of Oxfam International since May 2013. She served eleven years in the Ugandan Parliament, and has also served at the African Union Commission and as Director of Gender and Development at the United Nations Development Program. She co-founded the 60-member Global Gender and Climate Alliance and chaired a UN task force on gender aspects of the Millennium Development Goals. She holds a M.Sc. in Mechanical Engineering in Energy Conservation and the Environment (University of Cranfield), and a B.Sc. in Aeronautical Engineering (University of Manchester).
Jeroen Dijsselbloem has been Eurogroup President since January 2013, Chair of the Board of Governors of the European Stability Mechanism since February 2013, and Minister of Finance of the Netherlands since November 2012. Previously, he was a member of the House of Representatives of the Netherlands (2000-12), and advisor to the Dutch Minister of Agriculture (1996-98). He studied business and agricultural economics at Wageningen University (1985-1991) and completed business economics research towards a master's degree from University College Cork, Ireland.
Joseph Stiglitz is University Professor at Columbia University, New York. He was awarded the Nobel Prize in Economics in 2001 and the John Bates Clark Award in 1979. He has previously taught at Princeton, Stanford, MIT and was the Drummond Professor and a fellow of All Souls College, Oxford. He chaired the Commission of Experts appointed by the President of the UN General Assembly on Reform of the International Financial and Monetary System (2009). He was Chief Economist and Senior Vice-President of the World Bank (1997-2000) and served as chairman of the Council of Economic Advisers (1995-97). He holds a Ph.D. from MIT.
Luis Videgaray Caso has been the Secretary of Finance and Public Credit of Mexico since 2012. Previously he was Secretary of Finance of the State of Mexico (2005-09), and was President of the Commission of Budget and Public Accounts in the Mexican Congress (2009-11). He received a Ph.D. in Economics from MIT in 1998.