“Policy responses to unfettered finance”
Conference Room “A”
3 p.m. - 4 p.m.
Wednesday, February 11, 2009
Chair : Gemma Adaba, ITUC Speaker : Roy Culpeper, President, The North-South Institute, Ottawa, Canada
In the context of the current crises, the North-South Institute, has initiated a project to develop policy responses beneficial to developing countries and focused on the reform of the financial sector. On the eve of the first of three inter-sectoral workshops, this briefing seeks to inform non-governmental organizations with an interest in the issues, those addressing financing for development and others. The first workshop is in collaboration with the Initiative for Policy Dialogue at Columbia University. The project has the support of the Ford Foundation.
Other members of the project team will be present : Aniket Bhushan, Pablo Heidrich and John W. Foster
The financial crisis that erupted in the United States has fast turned into a broader global economic crisis of unprecedented scope. This crisis is merely the latest bout of financial instability over the past 25 years. While the resilience of emerging economies was highlighted in the initial analysis, the �decoupling’ theory is fast being replaced by a renewed appreciation of the interconnectedness that characterizes global finance. This crisis is exposing key underlying weaknesses of the economic and financial system both at the national and global level. By plunging the North into recession the present crisis is having a major negative impact on developing country trade, investment and growth. Indeed emerging economies, developing and least developed economies face the greatest risks from the longer-term impact of the crisis.
In this context, the present project poses the following central research question : What reforms are required in the global, regional and national governance of financial and capital markets in light of the recent financial turmoil, particularly from the perspective of emerging markets and developing countries ? The answer to this question must be one that best serves the economic and social needs of those countries while reducing their vulnerability to financial shocks.
For further information : www.nsi-ins.ca
Towards the UN Conference on the Financial Crisis Briefing and strategy meeting for NGOs
Sponsored by Global Policy Forum, North-South-Institute and Social Watch with support of NGLS
Wednesday, 11 February 2009
Conference Room A
4:00-5:00 Briefing by Michael Clark, Office of the President of the General Assembly, on the draft modalities of the Conference
5:00-6:00 Discussion about joint NGO activities in the preparatory process of the UN Conference