Across the world we are seeing a revival of interest in activist policies for economic development. In the UK, after years of placing its faith in the market, the government has established a cabinet committee devoted to industrial planning. Is it time for the state to play a more active role in the financial sector? Should the government do more to direct finance to where it is needed most, including small businesses and manufacturing? What are the benefits and pitfalls of publicly-owned development banks?
In this seminar we bring together a panel of experts to help us rethink how the financial sector can be harnessed to support development in both industrialised and developing countries. We will draw on the lessons that can be learned from the 2008 financial crisis in industrial countries, and over three decades of financial liberalisation in developing countries.
- Professor Stephany Griffith-Jones, Financial Markets Program Director at the Initiative for Policy Dialogue, Columbia University
- Professor Robert Wade, Professor of Political Economy and Development, London School of Economics and Political Science
- Dr Natalya Naqvi, Global Leaders Fellow, University of Oxford