"Great Transformations: East and West"

Fülszöveg

The Lamfalussy Lectures Conference series, hosted by the Magyar Nemzeti Bank, is a key fomm for European and global thinking on economic policy. The initiative launched by the Magyar Nemzeti Bank in 2014 responded to a call for paradigm change by offering a platform for top-level Hungarian and international economic policy makers to discuss global macroeconomic and financial developments as well as exchange views on the changing economic worid order.
In 2018, the 5th Lamfalussy Lectures Conference was dedicated to "Great Transformations" affecting the East and the West alike. Among global trends, the increasing prominence of Eastern economies and hence, the emergence of a multipolar global economy, merit special attention. In this environment, ensuring sustainable growth is not only connected to financial, economic and political stability but also to a commitment to reform measures and to initiatives shaping the future. This way, the global economy in transition also requires the... Tovább

Fülszöveg

The Lamfalussy Lectures Conference series, hosted by the Magyar Nemzeti Bank, is a key fomm for European and global thinking on economic policy. The initiative launched by the Magyar Nemzeti Bank in 2014 responded to a call for paradigm change by offering a platform for top-level Hungarian and international economic policy makers to discuss global macroeconomic and financial developments as well as exchange views on the changing economic worid order.
In 2018, the 5th Lamfalussy Lectures Conference was dedicated to "Great Transformations" affecting the East and the West alike. Among global trends, the increasing prominence of Eastern economies and hence, the emergence of a multipolar global economy, merit special attention. In this environment, ensuring sustainable growth is not only connected to financial, economic and political stability but also to a commitment to reform measures and to initiatives shaping the future. This way, the global economy in transition also requires the adoption of new approaches.
György Matolcsy, Governor of Magyar Nemzeti Bank noted that we are facing challenges írom a new wave of globalization, mainly by the unfolding transformations by new technologies and new geopolitical ambitions. Finding new visions are necessary to be able to ensure a sustainable future for the European Union. Three former Popovics Award winning economists held the Lamfalussy Lecture of the conference. Márton Nagy, Vice Governor of Magyar Nemzeti Bank presented the " 12 turnarounds" in the Hungarian economy. Dániel Palotai, Executive Director and Chief Economist of Magyar Nemzeti Bank focused on the targeted instruments of monetary policy that made the economic policy turnarounds possible. Barnabás Virág, Executive Director of Magyar Nemzeti Bank showed the opportunities and the potential main pillars of sustainable convergence through Hungary's example.
The keynote speech of Li Yang, Chairman of the Chinese Academy of Social Sciences gave a broad overview of China's spectacular transformation in the past decades and pointed to the challenges of prevailing leverage ratios. The panel discussion moderated by Guntram Wolff, Director of Bmegel addressed several aspects of China's ongoing transformation. Alicia Garcia-Herrero, Senior Fellow of Bmegel suggested that Europe needs to rethink its approach to China in order to increase gains from the Belt and Road Initiative. Park In-kook, President of the Korea Foundation for Advanced Studies gave a presentation about the new normal of global transformation in China, highlighting that the technological innovation can be a locomotive of China's future growth. Lawrence I. Lau, Professor of the Chinese University of Hong Kong explained the shifting ceriters of the global economy and the sources of economic growth in the East Asian economies.
The aftemoon section was opened by Marek Chrzanowski, Chairman of Polish Financial Supervision Authority. The keynote speech was delivered on behalf of Adam Glapinski, President of Narodowy Bank Polski. György Szapáry, Chief Advisor to the Governor of the Magyar Nemzeti Bank moderated a panel discussion addressing issues of Europe's policy alternatives in the unfolding global transformation. The panel discussion included Thomas Wieser, former President of the Economic and Financial Committee of the EU; Marco Buti, DG-ECFIN at the European Commission; Reza Moghadam, Vice Chairman of Morgan Stanley; and John Lipsky, former IMF Deputy Managing Director. The speakers agreed that it is key for the European countries to achieve stability and growth which are in the heart of the European integration, but which are apparently missing in many countries of the European Union. To ensure sustainable growth further refonns are needed. Vissza