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Hong Kong Institute for Monetary Research, the Centre for International Governance Innovation (CIGI) and Asian Development Bank (ADB)

The BRICS & Asia, Currency Internationalization, and International Monetary Reform

10 December 2012 (Monday) - 11 December 2012 (Tuesday)

Harbour Room, 56/F, Two International Finance Centre, 8 Finance Street, Central


Programme (Papers are also available on CIGI website: http://www.cigionline.org/series/brics-and-asia-currency-internationalization-and-international-monetary-reform)


10 December 2012 Monday

8:30 am – 9:00 am Welcoming Remarks:

Dong He, Hong Kong Monetary Authority

Opening Remarks:

Rohinton Medhora, The Centre for International Governance Innovation, and Changyong Rhee, Asian Development Bank

9:00 am – 10:00 am Panel 1: Overview Considerations


Chair: Thomas Bernes, The Centre for International Governance Innovation

Global Turmoil: The International Monetary System Today
Benjamin J. Cohen, University of California, Santa Barbara

Discussant: Paul Jenkins, The Centre for International Governance Innovation

General Discussion

cohen.zip
10:00 am – 10:30 am Coffee and Tea


10:30 am – 11:30 am Reluctant Monetary Leaders? The New Politics of International Currencies
Eric Helleiner, University of Waterloo

helleiner.pdf
Discussant: Jae-Ha Park, Asian Development Bank Institute

General Discussion

2d_jh-park_commen.ppt
11:30 am – 12:30 pm Reforming the International Monetary System in the 1970s and 2000s: would an SDR substitution account have worked?
Robert McCauley, Bank for International Settlements

robert-mccauley_paper_formatte.pdf
Discussant: Dong He, Hong Kong Monetary Authority

General Discussion

3d_dong-he-presentation_10-dec-bob-paper-.ppt
12:30 pm – 2:00 pm Lunch

Keynote Presentation: Dong He, Hong Kong Monetary Authority
International Use of the Renminbi: Developments and Prospects


4_dong-he-presentation_10-dec-lunch-.ppt
2:00 pm – 3:30 pm Panel 2: BRICS Views on the International Monetary System and Response Options


Chair: Gregory Chin, The Centre for International Governance Innovation

Challenges of the International Monetary System and the Direction to Reform
Songzuo Xiang, Agricultural Bank of China

General Discussion

5_songzuo-xiang_ppt.ppt
Reforming the Architecture of the International Monetary System: Managing the Impossible Trinity
Rakesh Mohan, International Monetary Fund;
Michael Debabrata Patra, Reserve Bank of India; and
Muneesh Kapur, International Monetary Fund

General Discussion

patra.zip
3:30 pm – 4:00 pm Coffee and Tea


4:00 pm – 6:15 pm Russia, International Monetary Reform and Currency Internationalization
Juliet Johnson, McGill University

General Discussion

juliet.zip
Challenges of the International Monetary System and Response Options: A South African Perspective
Johan van denHeever, South African Reserve Bank

General Discussion

johan.zip
Brazil: Policy Responses to the Global Crisis and the Challenges Ahead
Monica Baumgarten de Bolle, PUC Rio and Galanta Consultoria

General Discussion

monica.zip
6:30 pm – 8:30 pm Dinner (By Invitation)


11 December 2012 Tuesday



9:00 am – 10:30 am Panel 3: Regional Dimensions and Adjustment Options


Chair: Marc Uzan, Reinventing Bretton Woods Committee

A Practical Approach to International Monetary System Reform: Building Settlement Infrastructure for Local Currency Internationalization
Changyong Rhee and Lea Sumulong, Asian Development Bank

rhee.zip
Discussant: R. Sean Craig, International Monetary Fund

General Discussion

10d_r-sean-craig.pptx
Promoting the International use of Emerging Country Currencies: The Case of Local Currency Debt Issuance for Latin America and the Caribbean
Andrew Powell, Inter-American Development Bank

powell.zip
Discussant: Victor Pontines, The Asian Development Bank Institute

General Discussion

11d_comments_powell_paper_promoting_use_currencies_lac.ppt
10:30 am – 11:00 am Coffee and Tea


11:00 am – 12:00 nn Panel 4: Asian Policy Roundtable


Chair: Jae-Ha Park, Asian Development Bank Institute

Daikichi Momma, International Monetary Fund

12_daikichi-momma_ppt.ppt
Sung-Soo Eun, Ministry of Strategy and Finance

Songzuo Xiang, Agricultural Bank of China

General Discussion

13_sungsoo-eun_ppt-no-photo-.ppt
12:00 nn – 1:00 pm Panel 5: The Way Forward


Chair: Changyong Rhee, Asian Development Bank

Paul Jenkins, The Centre for International Governance Innovation

Thomas Bernes, The Centre for International Governance Innovation

Robert McCauley, Bank for International Settlements

R. Sean Craig, International Monetary Fund

General Discussion

14_the-way-forward-hkimr-conference.pptx
1:00 pm – 1:10 pm Closing Remarks:

Rohinton Medhora, The Centre for International Governance Innovation

1:10 pm – 2:30 pm Lunch (By Invitation)


~ End of Conference ~



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