Institution(s): Hong Kong Institute of Economics and Business Strategy , Hong Kong Centre of Economic Research

Date: Mar 07, 2000 (Tuesday)

Time: 12:00 noon - 02:00 pm

Venue: Conrad Hotel, Granville Room Pacific Place, 88 Queensway, Admiralty

Medium : English

Fee : HK$450 per person

Abstract:

Professor Robert Townsend uses the latest economic theory and rare panel data he has acquired in his own extensive research to evaluate the formal and informal financial systems of Thailand. He analyzes two decades of growth with inequality and uneven financial deepening that preceded the recent economic crisis. He will also analyze the impact of the crisis itself on households and businesses and provide a clear conceptual framework merging macroeconomics with explicit microeconomic underpinnings. Data will be used to examine the impact of regulatory distortions and guide suggestions for financial reform.

Professor Robert Townsend received his BA from Duke University, and his Ph.D. from the University of Minnesota. He began his teaching and research career at Carnegie-Mellon University and has been at the University of Chicago since 1985. He is currently the Charles E. Merriam Distinguished Service Professor in Economics and the College, Chair of the University Committee on Demographic Training, and member of the Executive Board of the Population Research Center, NORC. In addition he is a consultant to the Federal Reserve Bank of Chicago, the World Bank, the InterAmerican Development Bank, and the government of Bolivia. His contributions in theory include the revelation principle, costly state verification, optimal multi-period contracts, decentralization with private information, money with spatially separated agents, financial structure and growth, and forecasting the forecasts of others. His contributions in econometrics include the study of risk and insurance in developing countries. His work on village India was awarded the Frisch Medal in 1998.

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(Professor Robert Townsend)