AEIR 2021

RCI-POD

WEBINAR 10

Premiered on:
18 Aug 2020 (Tuesday)
15:00–16:30 (Manila)
Platform:
Microsoft Teams Meeting

Capital Flows During COVID-19 Pandemic: Insights from Sectoral Capital Flows and Policy Challenges


The webinar discussed recent trends in capital flows during the ongoing COVID-19 pandemic. It also presented a recent paper which considers capital flows from sectoral angle. A panel discussion followed to examine how the current pandemic will impact sectoral cross-border financial flows and holdings and discuss policy implications.

Video Link:

Link to YouTube

Downloads:

Agenda (PDF)

Previous Episode:

Advancing Asia’s Payment Systems Through Financial Technology
11 Aug 2020 9:00–10:30am
(Manila)

Next Episode:

COVID-19, Technology, and Polarizing Jobs
8 Sep 2020 11:00am–12:30
(Manila)
Opening Remarks:
Yasuyuki Sawada Chief Economist and Director General, ERCD, ADB
Bio

Yasuyuki Sawada is Chief Economist of the Asian Development Bank (ADB) and Director General of its Economic Research and Regional Cooperation Department. He is chief spokesperson on economic and development trends, and leads the production of ADB’s flagship knowledge products and support for regional cooperation fora. Before joining ADB, Mr. Sawada was Professor of Economics at the University of Tokyo, and has led numerous large-scale development policy evaluation projects for various institutions. His key research areas are development economics, microeconometrics, economics of disasters, and field surveys and experiments. Mr. Sawada obtained his Ph.D. in Economics from Stanford University.
Presentations:
Recent Trends of Capital Flows in Asia
Rogelio Mercado Economist, ERCD, ADB
Bio Presentation

Rogelio Mercado is an Economist at the Regional Cooperation and Integration Division of the Economic Research and Regional Cooperation Department of ADB. He contributes to various division publications and knowledge products. His research interests include capital flows, financial integration, financial stress, portfolio allocation, asset price discovery, financial inclusion, and economic convergence. Rogelio has published in international journals including Journal of Banking and Finance, Journal of International Money and Finance, Journal of Futures Markets, Review of Income and Wealth, and co-authored several book chapters.

Prior to joining the ADB in July 2020, he was a Senior Economist at the South East Asian Central Banks Research and Training Centre, and was a Lecturer in Economics at Newcastle Business School. He earned his PhD in Economics from Trinity College Dublin.

Sectoral Capital Flows: Covariates, Co-movements, and Controls
Rogelio Mercado Economist, ERCD, ADB
Bio Presentation

Rogelio Mercado is an Economist at the Regional Cooperation and Integration Division of the Economic Research and Regional Cooperation Department of ADB. He contributes to various division publications and knowledge products. His research interests include capital flows, financial integration, financial stress, portfolio allocation, asset price discovery, financial inclusion, and economic convergence. Rogelio has published in international journals including Journal of Banking and Finance, Journal of International Money and Finance, Journal of Futures Markets, Review of Income and Wealth, and co-authored several book chapters.

Prior to joining the ADB in July 2020, he was a Senior Economist at the South East Asian Central Banks Research and Training Centre, and was a Lecturer in Economics at Newcastle Business School. He earned his PhD in Economics from Trinity College Dublin.
Etienne Lepers Economist, Investment Division, OECD
Bio Presentation

Etienne Lepers is an Economist in the International Finance Unit of the Directorate for Financial Affairs at the OECD since 2016. In this capacity, he actively contributes to the implementation and regulatory monitoring associated with the OECD Capital Movements Code. He is in charge of producing analytical inputs and research contributions on issues related to global financial integration and capital flows, notably to the Advisory Task Force on the OECD Code and the G20 International Architecture Working Group. His published research has focused on capital flows and capital controls, early warning systems of financial crises, as well as macroprudential and monetary policy.

Prior to joining the OECD, Etienne was working in the Risk Analysis team of the European Systemic Risk Board, hosted at the ECB. He holds graduate degree from the London School of Economics and Sciences Po in Paris.
Panel Discussion

Moderator:
Cyn-Young Park Director, ERCI, ADB
Bio

Cyn-Young Park is Director of the Regional Cooperation and Integration Division in the Economics Research and Regional Cooperation Department of the Asian Development Bank (ADB). In her current capacity, she manages a team of economists to examine economic and policy issues related to regional cooperation and integration (RCI) and develop strategies and approaches to support RCI. During her progressive career within ADB, she has been a main author and contributor to ADB’s major publications including Asian Development Outlook (ADB’s flagship publication), Asia Capital Markets Monitor, Asia Economic Monitor, Asia Bond Monitor, and ADB Country Diagnostic Study Series. She has also participated in various global and regional forums including the G20 Development Working Group, Association of Southeast Asian Nations (ASEAN), ASEAN+3, Asia-Pacific Economic Cooperation (APEC), and Asia-Europe Meeting (ASEM). She has written and lectured extensively about the Asian economy and financial markets. Her work has been published in peer reviewed academic journals including the Journal of Banking and Finance, the Journal of Futures Markets, the Review of Income and Wealth, and the World Economy.

Prior to joining the ADB, she served as Economist (1999-2002) at the Organisation for Economic Cooperation and Development (OECD), where she contributed to the OECD Economic Outlook. She received her Ph.D. in Economics from Columbia University. She holds a bachelor degree in International Economics from Seoul National University.

Panelists:
Francis E. Warnock Professor of Business Administration, University of Virginia Darden Business School
Bio Presentation

Frank Warnock is a Professor of Business Administration at University of Virginia Darden School of Business. He is also a Research Associate at the National Bureau of Economic Research and a research advisor at the Federal Reserve Board's International Finance Division. He consults regularly at the European Central Bank and Bank for International Settlements Representative Office for Asia and the Pacific. In recent past, he has been a Research Fellow at the Hong Kong Monetary Authority and Council for Foreign Relations; co-led a multi-team Inter-American Development Bank project; and consultant at the IMF and the World Bank. Before coming to Darden in 2004, Frank was a Senior Economist in the International Finance Division at the Board of Governors of the Federal Reserve System while teaching at Georgetown University.

He is an expert on international capital flows, international portfolio allocation and financial sector development. His work has been featured in various newspapers and magazines, and his publications have appeared in journals, including American Economic Review, Quarterly Journal of Economics, Review of Financial Studies, and Journal of International Economics. Frank is also an Associate Editor of the Journal of International Economics. He received his PhD in Economics from University of North Carolina at Chapel Hill.
Cedric Tille Professor of International Economics, Geneva Graduate Institute
Bio Presentation

Cedric Tille is a Professor of International Economics and the Head of the Bilateral Assistance and Capacity Building for Central Banks at Geneva Graduate Institute. Cedric previously worked as an economist at the International Research Function of the Federal Reserve Bank of New York. He has been a member of the Bank Council of the Swiss National Bank since 2011. He is also a Research Fellow at the Centre for Economic Policy Research, and International Research Fellow at Kiel Institute for the World Economy. He is a Co-Editor of the Swiss Journal of Economics and Statistics, and Associate Editor of Journal of Money, Credit, and Banking, and Journal of International Economics.

His research interests cover several dimensions of the international transmission of economic cycles and policies: financial globalization and its impact on the international transmission of macroeconomic fluctuations, the international role of some currencies, the dynamics of balance of payments and the value of international assets and liabilities. He has published in various journals including Journal of Monetary Economics, Journal of International Economics, and International Economic Review. He earned his Ph.D. in Economics from Princeton University.
Q&A