ESCAP Executive Secretary's Seminar on "Financing for sustainable development: Local and global perspectives"

31 Oct 2014
Bangkok, Thailand

Speakers:

  • José Antonio Ocampo, Professor, fellow of the Committee on Global Thought and co-President of the Initiative for Policy Dialogue, Columbia University
  • Dr. Naoyuki Yoshino is Dean of the Asian Development Bank Institute (ADBI) and Professor Emeritus at Keio University, Tokyo, Japan

Date/Time: Friday, 31 October 2014 - 10.00 - 12.00
Venue: Meeting Room CR-3, United Nations Conference Centre

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ESCAP has estimated that the investments required to close infrastructure and social development gaps in Asia and the Pacific amount to around $2.1 trillion per annum. The region, however, has vast financial resources – $8.4 trillion in gross national saving, $7.3 trillion in foreign exchange reserves, and $12.7 trillion in assets held by high net worth individuals at the end of 2012. But how can the region mobilize its resources at a large enough scale to address its needs?

This unique seminar brings two distinguished experts to discuss local, regional and global perspectives on how the region can mobilize its financial resources to boost its sustainable development.

Dr. Ocampo will review current debates on multilateral financing, including on climate change, and consider the roles of global, regional and inter-regional financial institutions such as the Islamic Development Bank and the new BRICS bank. Dr. Yoshino will discuss the potential for hometown investment trusts, a new form of financial intermediation recently adopted as a national strategy in Japan, to finance small and medium-sized enterprises.

Biographies

José Antonio Ocampo is Professor and Director of the Economic and Political Development Concentration in the School of International and Public Affairs, Member of the Committee on Global Thought and co-President of the Initiative for Policy Dialogue at Columbia University. He is also Chair of the Committee for Development Policy of the United Nations Economic and Social Council (ECOSOC). He has occupied numerous positions at the United Nations and his native Colombia, including UN Under-Secretary-General for Economic and Social Affairs, Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (ECLAC), and Minister of Finance, Planning and Agriculture of Colombia. In 2012 he was one of the two candidates from developing countries for President of the World Bank. He has received numerous academic distinctions, including the 2012 Jaume Vicens Vives award of the Spanish Association of Economic History for the best book on Spanish or Latin American economic history, the 2008 Leontief Prize for Advancing the Frontiers of Economic Thought and the 1988 Alejandro Angel Escobar National Science Award of Colombia. He has published extensively on macroeconomic theory and policy, international financial issues, economic and social development, international trade, and Colombian and Latin American economic history. His most recent books include The Economic Development of Latin America since Independence, with Luis Bértola (2012), Development Cooperation in Times of Crisis, edited with José Antonio Alonso (2012), the Oxford Handbook of Latin American Economics, edited with Jaime Ros (2011), Time for a Visible Hand: Lessons from the 2008 World Financial Crisis, edited with Stephany Griffith-Jones and Joseph E. Stiglitz (2010), and Growth and Policy in Developing Countries: A Structuralist Approach, with Lance Taylor and Codrina Rada (2009). He holds a BA in Economics and Sociology from the University of Notre Dame and a Ph.D. in Economics from Yale University.

Dr. Naoyuki Yoshino is Dean of the Asian Development Bank Institute (ADBI) and Professor Emeritus at Keio University, Tokyo, Japan. He obtained his PhD from Johns Hopkins University (United States) in 1979 where his thesis supervisor was Sir Alan Walters, economic adviser to former British Prime Minister Margaret Thatcher. Dr. Yoshino has been a visiting scholar at the Massachusetts Institute of Technology (United States) and a visiting professor at various universities including the University of New South Wales (Australia), Fondation Nationale des Sciences Politiques (France), and University of Gothenburg (Sweden). He has also been an assistant professor at the State University of New York at Buffalo and an economics professor at Keio University. Dr. Yoshino's professional career includes membership in numerous government committees. He was named Director of the Japan Financial Services Agency's (FSA) Financial Research Center (FSA Institute) in 2004 and is now Chief Advisor. He was appointed as Chair of the Financial Planning Standards Board in 2007. He has served as Chairperson of the Japanese Ministry of Finance's Council on Foreign Exchange as well as its Fiscal System Council (Fiscal Investment and Loan Program Section). Additionally, he has been a Board Member of the Deposit Insurance Corporation of Japan and President of the Financial System Council of the Government of Japan. He was nominated for inclusion in Who's Who in the World for 2009 and 2013, and was named one of the Top 100 Educators in 2009. He obtained honorary doctorates from the University of Gothenburg (Sweden) in 2004 and Martin Luther University of Halle-Wittenberg (Germany) in 2013. He also received the Fukuzawa Award in 2013 for his contribution to research on economic policy