Motivation and objective

The multi-speed global recovery has led to the resumption of large capital flows to many emerging market countries reflecting largely their better growth outlook. A return of capital flows to Asia should help the growing economies fund their investment and development needs. At times, however, sharp surges in capital inflows may pose policy challenges, in particular, how to harness the opportunities provided by the availability of capital while managing the concomitant risks.

This one-day conference, which will bring together leading academics, investors, and policy makers from Asia and other large emerging market countries, is designed to provide an opportunity for discussion of recent developments in capital flows and practices for effectively managing such inflows. It will also enable policymakers from different parts of the world to interact and share their experiences in managing capital flows.

Basic framework

• This conference will be centered on four thematic sessions and end with a policy-oriented panel. The themes covered would include: (1) prospects for capital flows to emerging markets in a multi-speed global recovery; (2) policy responses among the large emerging market countries around the world; (3) policy options to harness the opportunities provided by the availability of capital while managing the risks; and (4) the challenges of channeling capital flows to long-term investment that could help facilitate rebalancing.
• Participants would include: 1) academics; 2) policymakers from both Asia and other large emerging market countries such as Brazil, Turkey, and South Africa; and 3) private sector representatives from asset management companies, investment banks, and sovereign wealth funds.