CFSP Joined IMF, World Bank, and UK AID in Hosting “Financial Deepening, Macro-Stability, and Growth” Conference

Conference was held in Washington, DC on September 24, 2012

The Consortium on Financial Systems and Poverty, jointly with the International Monetary Fund (IMF), the World Bank, and the UK Department for International Development, hosted a conference titled, "Financial Deepening, Macro-Stability, and Growth in Developing Countries" at the IMF headquarters in Washington, DC on September 24, 2012.

The conference--organized in part by Kenichi Ueda, a past Policy Fellow at CFSP--was intended to provide a forum for discussing research on financial deepening issues in emerging market and low-income countries and to facilitate the exchange of views among researchers and policymakers.

"I believe that solid theoretical and empirical understanding is necessary to make lasting impacts on any policy debates," Ueda said. "The conference was successful on this front. I was congratulated by many participants after the conference for generating substantial discussions among policy practitioners and key thinkers on the subject of financial deepening, macro stability and growth."

Conference keynote speaker, Robert M. Townsend, agreed with Ueda: "This conference highlighted the importance of how to improve financial access in low-income and emerging-market countries and how to ensure macro stability. These goals are typically considered to be in conflict with one another but it is increasingly clear these need to be considered at the same time. We need common conceptual frameworks, built on both theory and data."  Townsend is a Professor of Economics at the Massachusetts Institute of Technology and Faculty Director of the Consortium on Financial Systems and Poverty.

CFSP affiliated researcher Joseph Kaboski of the University of Notre Dame presented a discussion entitled, "The Macroeconomics of Microfinance" based on a paper he wrote with CFSP researcher Francisco Buera from the University of California-Los Angeles and Yongseok Shin from Washington University in St. Louis and the Federal Reserve Bank of St. Louis.

Presentations and video from CFSP researchers can be found by following the links below. The full, available conference proceedings can be found online.
CFSP Members & Seed Grant Recipients at Conference:

Other Presenters at Conference:

Twitter: @CFSPoverty