With global financial markets more interdependent than ever before, economists and financial managers are keeping a close eye on developments. On Friday, November 9, 2007 leading economists from the University of California, Santa Cruz, were joined by top practitioners and analysts from the financial sector for a candid discussion of the implications of turmoil in global capital markets.
The public workshop, "Rough Seas for Global Capital Markets: Implications for India, China, and the United States," took place from noon to 5 p.m. in the Eagle Room, Building 943, at NASA Research Park, Moffett Field.
"The spillover of the U.S. subprime crisis to Europe and Asia highlights the possible vulnerability of global financial markets," said Nirvikar Singh, professor of economics at UCSC and organizer of the workshop. "We have to ask ourselves if the global prosperity of the past 20 years is eroding, and if so, what does it mean for three of the world's major and emerging economic powers?"
The workshop consisted of two panel discussions on the state of global capital markets. The first session featured UCSC economics faculty members of the SCCIE (Santa Cruz Center for International Economics): Joshua Aizenman, Michael Dooley, and Michael Hutchison; chaired by Carl Walsh, also a SCCIE member & professor of economics at UCSC. The second panel featured Alok Aggarwal, founder and chairman of Evalueserve; Steve Bruce, founder and chief investment officer of Alcentra; and Mark W. Headley, co-chief executive officer of Matthews International Capital Management, LLC. Their discussion was chaired by Arun Kumar, lead partner of KPMG, LLC. Welcoming remarks were made by Alison Galloway, vice provost of academic affairs and a professor of anthropology at UCSC.
The workshop was sponsored by UCSC's Center for Global, International and Regional Studies (CGIRS) and the UCSC Silicon Valley Initiative. |
