Dr. Sergio Schmukler, the Lead Economist of the Development Research Group at the World Bank
Dr. Eugenio Cerutti, Assistant to the Director at the Research Department of the International Monetary Fund
Development of domestic capital markets has been given a high priority in the World Bank Group with the creation of the Joint Capital Markets Program (J-CAP) in February 2019 to develop a comprehensive capital market development program for member countries. This initiative is a recognition of the fact that the Multilateral Development Banks as a collective group has become a smaller part of the financial markets in emerging market countries. Domestic capital markets are likely to be the major source of financing investment projects. The Bank Group can play a key role in further developing these markets based on its global market experience. East Asian countries especially China now accounts for a large share of global financial markets. Our two speakers will discuss their research work on capital markets both at the regional and China specific level.
Dr. Schmukler will discuss recent experience in developing capital markets in East Asia based on his research work in this area. Dr. Cerutti will focus on development of capital markets in China based on his recent research. Please see two attached papers.
Sergio Schmukler is Lead Economist at the World Bank’s Development Research Group. His research area is international finance and international financial markets and institutions. He obtained his Ph.D. in Economics from the University of California at Berkeley in 1997, when he joined the World Bank’s Young Economist and Young Professionals Programs. He currently teaches financial development at Columbia University. He is a member of the Money and Finance Research (Mo.Fi.R) group and Treasurer of LACEA, the Latin America and Caribbean Economic Association. http://www.worldbank.org/en/about/people/s/sergio-schmukler
Eugenio Cerutti is the Assistant to the Director at the Research Department of the IMF (Maurice Obstfeld since Sep 2015; Olivier Blanchard from June 2014 to Sep 2015). He has also served in the Macro-Financial Division of the Research Department as well as on the IMF teams of several economies, including Sweden, Turkey, Venezuela, Lithuania, Bolivia, and Barbados. His research interests fall in the general field of international macroeconomics, with a focus on currency and banking crises and macro-financial linkages. He holds a Ph.D. in Economics from the Johns Hopkins University and a B.A. in Economics from Universidad Nacional de Cordoba (Argentina). https://www.imf.org/external/np/CV/AuthorCV.aspx?AuthID=279
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