Tolani-NUS Business School-LKY School Public Lecture
“The Future of the International Monetary System”


Professor Eswar Prasad
Tolani Senior Professor of Trade Policy, Cornell University;
Senior Fellow and New Century Chair in International Economics, Brookings Institution;
and Research Associate, National Bureau of Economic Research (Cambridge, Massachusetts)

Date Wednesday, 13 June 2012
Time 3:30 pm - 5:15 pm (followed by Tea Reception)
Venue Tower A Ballroom, Lobby Level
Shangri-La Hotel, Singapore
Admission Complimentary

Post-Event Report | Photos

Four years after the onset of the financial crisis, the global economic recovery is still sputtering due to a lack of robust demand, policy tools that are stretched to their limits and unable to muster much traction, and enormous risks posed by weak financial systems and political uncertainty. The financial crisis and its aftermath have added momentum to the shift in the center of gravity of the world economy towards the emerging markets, particularly the dynamic emerging markets in Asia.  Professor Eswar Prasad, the Tolani Senior Professor of Trade Policy at Cornell University, discussed the future of the international monetary system and evolution of different currencies, especially the euro, dollar and key emerging market currencies in the context of the shifting global economic order. The lecture weaved in thoughts about global governance, the roles of institutions like the IMF, and what Professor Prasad sees as future trends in global financial flows, particularly those to and from emerging markets. Professor Prasad, who was once the head of the International Monetary Fund’s China division, is an expert on emerging markets, with a special focus on the Chinese and Indian economies. His views on the macroeconomics of financial globalisation, financial regulation, monetary policy frameworks and exchange rate policies in emerging markets are actively sought by Asia’s top economic agencies as well as the US Congress.  The lecture’s question and answer session was moderated by Professor Kishore Mahbubani, Dean and Professor in the Practice of Public Policy, Lee Kuan Yew School of Public Policy, NUS.

About the Speaker

Eswar Prasad is the Tolani Senior Professor of Trade Policy at Cornell University. He is also a Senior Fellow at the Brookings Institution, where he holds the New Century Chair in International Economics, and a Research Associate at the National Bureau of Economic Research. He was previously chief of the Financial Studies Division in the International Monetary Fund's Research Department and, before that, was the head of the IMF's China Division.

Eswar Prasad's latest book Emerging Markets: Resilience and Growth Amid Global Turmoil (with M. Ayhan Kose; Brookings Institution Press) was published in December 2010. His extensive publication record includes articles in numerous collected volumes as well as top academic journals such as the American Economic Review, American Economic Journal: Macroeconomics, Brookings Papers on Economic Activity, The Economic Journal, International Economic Review, Journal of Development Economics, Journal of Economic Perspectives, Journal of International Economics, Journal of International Money and Finance, Journal of Monetary Economics, and Review of Economics and Statistics. He has co-authored and edited numerous books and monographs, including on financial regulation and on China and India. Current research interests include the macroeconomics of financial globalisation; financial regulation, monetary policy frameworks and exchange rate policies in emerging markets; and the Chinese and Indian economies.

Prasad has testified before the Senate Finance Committee, the House of Representatives Committee on Financial Services and the U.S.-China Economic and Security Review Commission, and his research on China has been cited in the U.S. Congressional Record. He was a member of the analytical team that drafted the 2008 report of the High-Level Committee on Financial Sector Reforms set up by the Government of India. He serves on an Advisory Committee to India's Finance Minister and is the Lead Academic for the DFID-LSE International Growth Center's India Growth Research Program. He is the creator of the Brookings-Financial Times world index (TIGER: Tracking Indices for the Global Economic Recovery;

Many of his research papers and quotes from his speeches have been cited extensively in prominent media outlets such as the Economist, Financial Times, Forbes, International Herald Tribune, New York Times, Newsweek, Time, Wall Street Journal, Washington Post, and USA Today. His op-ed articles have appeared in the Financial Times, International Herald Tribune, Wall Street Journal Asia, Washington Post and other newspapers. He has made frequent appearances on BBC, Bloomberg, CNBC, CNN, C-SPAN, Fox, NBC, NPR, PBS, Reuters and other radio and television channels.

Prasad is also a Research Fellow at IZA (Institute for the Study of Labor, Bonn) and an Associate at the National Bureau of Asian Research. He has served as the co-editor of the journal IMF Staff Papers, was on the editorial board of Finance & Development and was the founding editor of the quarterly IMF Research Bulletin.

Opening Address by Professor Bernard Yeung, Dean and Stephen Riady Distinguished Professor, NUS Business School
Public Lecture by Professor Eswar Prasad
Question and Answer Session Moderated by Professor Kishore Mahbubani
Closing Remarks by Mr Rohet Tolani, Managing Director, Tolani Shipping (Singapore)
Tea Reception
Contact Ms Chow Pee Fun of CAMRI on tel: (65) 6601 1047 or at This email address is being protected from spambots. You need JavaScript enabled to view it. 

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