Keynote talk by Nobel Laureate, ROBERT F. ENGLE
Special Issue in JOURNAL OF BANKING AND FINANCE
Conference chairs from UNIVERSITY OF NOTTINGHAM, EUROPEAN CENTRAL BANK, NYU SHANGHAI & TSINGHUA UNIVERSITY
This is a high profile event supported by the Chinese government, industry & prominent universities!
This is the most excellent opportunity to visit amazing Shanghai & Ningbo!
LOCATION: Ningbo Marriott Hotel
Financial Innovation, Stability and Sustainable Growth
Innovation is often regarded as one of the most powerful forces shaping human society by bringing significant improvements in material standards of living. It may seem obvious that if innovation promotes economic growth, financial innovation must also promote economic growth but this does not necessarily follow. There has been a great deal of financial innovation in the past twenty years but its social value remains unclear.
Major economic benefits can flow from a healthy and innovative financial sector. Greater sophistication and depth of financial markets can promote economic growth by allocating capital where it can be most productive. A broader dispersion of risk across the financial system can increase the resilience of the system and the economy to shocks. Financial innovation, however, can also lead to excessive risk taking. Today, financial innovation stands accused of being complicit in the recent financial crisis of 2007-2008 that has created the first global recession in decades. Recent innovations that were once celebrated, such as negative-amortization mortgages, debt obligations (CDOs) and synthetic CDOs, credit default swaps, etc., are often accused of having either amplified or caused the crisis.
The conference and the JBF special issue welcomes papers on financial innovation that contribute to reassessing the benefits as well as the potential and realized costs and risks of recent financial innovation and make recommendations to ensure that financial innovation does not impede on the stability of financial systems and the sustainability of economic growth. The conference committee would also like to invite submission of papers relating to all aspects of banking and finance for presentation at the conference, namely:
- Asset Pricing
- Capital Markets
- Financial Crises
- Financial Regulation
- Emerging Markets
- Macro-financial Linkages
- Behavioral Finance
- Mathematical Finance
- Computational Finance
- Financial Intermediation
- Corporate Governance
- International Finance
- Corporate Investment Decision
- Efficiency & Productivity Analysis
- Financial Integration
- Mergers & Acquisitions
- Money and Liquidity
- Financial Econometrics
- Corporate Finance
- Market Microstructure
- Risk Management
- Global Risk Markets
- Financial Policy
- Internet Finance
We look forward to seeing you in Ningbo, China.
Meryem Duygun, University of Nottingham United Kingdom & President, IFABS
Manfred Kremer, European Central Bank, Conference Chair
Chee Kwong Lau, University of Nottingham Malaysia, Conference Chair
Ke Tang, Tsinghua University, Conference Chair
Yongmin Zhang, University of Nottingham Ningbo, Conference Chair
Xin Zhou, NYU Shanghai, Conference Chair
You can visit WWW.IFABS.ORG for details.