Asia-Pacific Regional Seminar

Discussion on Macroprudential Regulation & Global Migration
from two analytical chapters of the April World Economic Outlook

The IMF Regional Office for Asia and the Pacific (OAP) hosted a webinar on the effectiveness of macroprudential regulation and the economic impact of global migration on September 24. Presenting key findings from two analytical chapters of the April 2020 World Economic Outlook (WEO), IMF researchers discussed whether macroprudential regulation helped countries to withstand the impact of global financial shocks, and how the influx of immigrants and refugees affected the recipient countries’ economies. Nearly 300 people from across Asia joined the webinar.

Program

11:00-11:05 am

Welcome Remarks
Sumi Chikahisa, OAP Director
11:05-11:25 am 

Presentation on Dampening Global Financial Shocks in Emerging Markets: Can Macroprudential Regulation Help? (WEO, ch.3)

Niels-Jakob Hansen, Economist in the IMF Research Department

Summary: The COVID-19 pandemic is impacting emerging markets through an unprecedented mix of domestic and external shocks, including a sharp tightening in global financial conditions for emerging markets. This presentation asks whether countries that have adopted a more stringent level of macroprudential regulation are better placed to withstand the impact of global financial shocks. 

11:25–11:45am

 

Presentation on the Macroeconomic Effects of Global Migration (WEO, ch.4)

Margaux MacDonald, Economist in the IMF Research Department

Summary: The share of immigrants in advanced economies has risen significantly in recent years, while escalating conflicts have caused large refugee flows that have primarily affected emerging market and developing economies. This presentation examines the drivers of migration, its recent evolution, its possible developments going forward, and its economic impact on recipient countries.

11:45–12:15pm

Q&A session

Speakers’ bios

  • Niels-Jakob Hansen is an Economist in the Research Department of the IMF working in the World Economic Outlook division. While at the International Monetary Fund, he has participated in missions to Korea, Cambodia, Czech Republic and San Marino. He has also worked on issues related to Fund finances. His research interests include monetary and labor market issues. He has published in the Review of Economic Studies. He holds a Ph.D. in Economics from the Institute of International Economic Studies at Stockholm University.
  • Margaux Mac Donald is an Economist in the Research Department of the IMF where she works in the Multilateral Surveillance Division. Previously, she worked in the African Department on IMF program countries and external sector issues. Her research interests include international macroeconomics and international finance, and her recent work focuses on cross-country spillovers from monetary policy, banking, and trade. She holds a Ph.D. in Economics from Queen’s University.