The International Financial System Under Stress

New York, USA

January 26-27, 1998



The far-reaching effects of the Asian crisis poignantly demonstrated the inter-connectedness of the global economy. Interventions by international financial institutions and G-7 governments were notable in their failure to stem the general contagion. This conference engaged key players in tense discussions as the crisis was still playing out. No one understood yet that crises would become more frequent and more severe nor was their consensus as to why the global economic architecture had failed in preventing and/or dealing with the consequences of the crises effectively. Questions of transparency, Asian Cronyism, IMF conditionality and reform of corporate governance were high on the agenda. 



  • Allan MELTZER: Senior Fellow, American Entreprise Institute & Professor of Economics, Carnegie Mellon University
  • Barry EICHENGREEN: Senior Policy Advisor, IMF
  • Carlos ASILIS: Director, Emerging Markets Strategy, CS First Boston
  • Daniel LEIPZIGER: Chief, Private Sector & Regulatory Reform Division, World Bank
  • David FOLKERTS LANDAU: Global Head of Emerging Markets Research, Deutsche Morgan Grenfell
  • David HALE: Global Chief Economist, Zurich Kemper Investments
  • Desmond LACHMAN: Managing Director, Salomon Smith Barney
  • Dong Se CHA: President, Korea Development Institute
  • Edward ALTMAN: Vice Director, New York University Salomon Center
  • George VOTJA: Vice Chairman of the Board, Bankers Trust New York Corporation
  • Gerald CORRIGAN: Managing Director, Goldman Sachs
  • Gerard CAPRIO: Manager, Financial Sector Research, The World Bank
  • Hal SCOTT: Nomura Professor of International Financial Systems, Harvard Law School
  • Jack BOORMAN: Director, Policy Review Department, IMF
  • Jerome BOOTH: Head of Markets Research, ANZ Investment Bank
  • John WELCH: Chief Economist, Latin America, Paribas
  • Jose BARRIONUEVO: Senior Vice President & Director of Emerging Markets Strategy, Lehman Brothers
  • Jose Luis DAZA: Head of Emerging Markets Research, J.P. Morgan
  • Karin LISSAKERS: US Executive Director, IMF
  • Lee BUCHHEIT: Partner, Cleary Gottlieb, Steen & Hamilton
  • Marc WALKER: Partner, Cleary Gottlieb, Steen & Hamilton
  • Peter GARBER: Professor of Economics, Brown University & Deutsche Morgan Grenfell
  • Reimut JOCHIMSEN: President, State Central bank of North Rhine-Westphalia & Member of the Central Bank Council of the Bundesbank
  • Richard GITLIN: Founding Member, Hebb & Gitlin
  • Simon OGUS: Chief Asian Economist, SBC Warburg Dillon Read
  • Tom BERNES: Executive Director for Canada, IMF
  • Yung Chul PARK: President, Korea Institute of Finance

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