Saturday, February 10, 2007, 1:15 pm – 2:30 pm
It has been a decade since the East Asian Crisis hit currencies, stock markets, and other asset prices in multiple economies in Asia in 1997. The crisis brought about economic unrest even in other emerging markets, from lost confidence in the Asian economic miracle and the high-growth economies. In this panel, experts who have directly dealt with this phenomenon and who oversaw these markets will discuss on the crisis, what followed, and its continued vulnerabilities. We particularly focus on the background and aftermath of the macro economic policy and exchange rate management, as well as the banking sectors and the capital markets (government debt and corporate bond markets) from a public sector perspective.
Joseph Stern is a Lecturer in Public Policy at the Kennedy School of Government. He has served as a resident economic advisor to economic ministries in Pakistan, Ghana, Sri Lanka, Malaysia, and most recently Indonesia. In addition, he has frequently served as a consultant to various development agencies in Thailand, Venezuela, Korea, Tajikistan, and Jordan. His research deals with issues of development, international trade, and industrial policy. He has taught courses on economic development and project appraisal. In addition to having written a number of country economic studies, he has coauthored a book (with Dwight Perkins and Yoo Jung-ho) on industrial policy in Korea and two books (with Michael Roemer) on project appraisal. Stern received his MA and PhD degrees in economics from Harvard University. His full biography is available here.
Teresa Curran is Group Vice President and Deputy Director of the Federal Reserve Bank of San Francisco. She has over twenty years experience in senior positions in U.S. government organizations and the Federal Reserve System, including extensive experience working in Asia. Currently, she is responsible for the Supervision Group of the Division of Banking Supervision and Regulation. The group is comprised of several units, including Regional and Community Banks, International and Large Banks, and Risk Monitoring and Analysis. Ms. Curran joined the Reserve Bank in 1995 as Asia Regional Manager with responsibility for monitoring and analyzing financial sector developments in Asian economies. She assumed her current responsibilities in January 2003. Prior to joining the Federal Reserve, Ms. Curran worked at the Asian Development Bank at the Department of the Treasury. Ms. Curran is a graduate of Pomona College (BA) and Harvard University (MPP), and has a MBA Certificate from U.C. Berkeley Extension Program.
Mr. Jin is the Chief Representative of the Representative Office of the People's Bank of China (China's Central Bank) for America. Mr. Jin graduated from Beijing University with BA and MA in international economics and management economics respectively in the late 1980s. He then embarked his career with the People's Bank of China on projects financed by International Financial Organizations. After several years' work, he pursued a Ph.D study at the East West Center, University of Hawaii, and finished his dissertation on RMB's exchange rate. Afterwards, he worked as a consultant in World Bank, Washington DC, focusing on research of capital inflow in China. In 1997, Mr. Jin returned to People's Bank of China to resume his career there. Then he worked in the State Council focusing on issues of financial reform. Between early 2002 and mid 2003, Mr. Jin worked in the China Executive Director's Office in the International Monetary Fund, as an advisor. In the past two years, his major responsibility in the People's Bank of China was related to China's relations with IMF and G-20.
Mr. Tadashi Nunami is General Manager for the Americas and Chief Representative in New York for the Bank of Japan Chief Representative Office for the Americas. He has over thirty years of career at the Bank of Japan since he joined the Bank in 1976. He served many significant posts, including Chief Representative in Washington, D.C., Head of Bank Examination and Surveillance Division, and Assistant Director of International Department. Before his assignment in New York, he was in charge of the Bank’s payment system policy for three years as Adviser to the Governor. In this capacity, he chaired the Working Group of Payment and Settlement Systems of EMEAP, an international forum of central banks in the East Asia and Pacific region. He was also a member of the Committee on Payment and Settlement Systems of the Bank for International Settlements. Mr. Nunami received his BA in Liberal Arts from the University of Tokyo in 1976 and his MBA, with distinction and as a member of Beta Gamma Sigma, from the Wharton Graduate School of the University of Pennsylvania in 1983. He also spent two years at the Brookings Institution in Washington, D.C. as a visiting scholar from 1989 to 1991.
Dr. Jong Nam Oh, who finished his term as the first Korean Executive Director of the International Monetary Fund (IMF) in October 2006, is currently Visiting Professor in the School of Political Science and Economics, Waseda University in Tokyo, Japan and CEO of iGEM Consulting he has founded in Seoul, Korea. He previously served the Korean government for 30 years, mostly with the Economic Planning Board, and later the Ministry of Finance and Economy. He also worked in the Office of the President (The Blue House) as Economic Secretary during Kim, Dae-jung administration. From February 2002 through September 2004, he was Commissioner of the Korea National Statistical Office, where he wrote a book entitled 'Koreans, Your Future.' He earned his Bachelor's degree in Law at Seoul National University in Korea, and a Ph.D. in Economics and an MBA at Southern Methodist University in Texas.