"Financial Globalisation and Sustainable Finance: Implications for Policy and Practice"
Conference & Special Edition of the Journal of Banking and Finance
Cape Town, South Africa, May 29-31, 2013
On May 29 to 31, 2013, European Centre for Corporate Engagement (ECCE) and the University of Stellenbosch Business School (USB) hosted a conference on “Financial Globalisation and Sustainable Finance: Implications for Policy and Practice”. The conference was held at USB’s Bellvillepark Campus in Cape Town.The program committee included Stefanie Kleimeier and Rob Bauer from Maastricht University & ECCE and Meshach Aziakpono and Sylvanus Ikhide from USB.
Over the course of two days, more than 80 papers were presented in parallel sessions. Session topics range across the whole width of the conference’s theme. During the financial globalization related sessions heared presentations and discuss about exchange rate arrangements and volatility, financial & economic development, liberalization, financial FDI or monetary policy. Sustainable finance sessions have been arranged along different points of view including corporate finance, banking and markets oriented sessions.As the long-term effects of the 2007/08 financial crisis can still be felt in many economies worldwide, several of our sessions will link globalization and sustainability to the crisis with topics ranging from crises & spillover, through monetary policy & crises, to bank regulation and crisis lessons for financial markets.
The sessions were anchored by two keynote speakers, Mallam Sanusi Lamido Sanusi (CON), Governor of the Centrol Bank of Nigeria and Bill Megginson, Rainbolt Chair in Finance at the University of Oklahoma’s Michael F. Price College of Business. Mallam Sanusi focused in his speech on banking sector reforms in Nigeria and the implications for financial globalisation and sustainability while Bill Megginson explored the global impact of sovereign wealth funds as investors and development financiers.
Click here to view the conference program.
Click here to view the keynote speech by Mallam Sanusi Lamido Sanusi.
Click here to view part 2 of the keynote speech by William L. Megginson
A special thanks to our sponsors Economic Research Southern Africa (ERSA), Universteitsfonds Limburg (SWOL) and JP Morgan as well as to the Journal of Banking and Finance, which dedicated a special section in its November 2014 issue to selected papers presented at the conference.
Journal of Banking & Finance - Special Section on Financial Globalisation and Sustainable Finance: Implications for Policy and Practice - Edited by Meshach Aziakpono, Rob Bauer, Stefanie Kleimeier
At the time of the conference in May 2013, the long-term effects of the 2007/08 financial crisis were still felt in many economies worldwide and the effects of the crisis and the responses by managers, policy makers and regulators to the crisis are of focal importance. The papers in this special section have been selected from those presented at the conference and focus on three interconnected themes: (1) sustainable banking, i.e., the risk of financial institutions in relation to their governance; (2) crisis policies, i.e., the link between financial markets and central bank policies during crisis periods; and (3) financial globalisation, i.e., the effects that external finance constraints have on companies operating in national versus international banking markets.
Financial globalisation and sustainable finance: Implications for policy and practice
Meshach Aziakpono, Rob Bauer, Stefanie Kleimeier
Bank pay caps, bank risk, and macroprudential regulation
Information asymmetry around operational risk announcements
Ahmed Barakat, Anna Chernobai, Mark Wahrenburg
Socially responsible funds and market crises
John Nofsinger, Abhishek Varma
Does bank ownership affect lending behavior? Evidence from the Euro area
Giovanni Ferri, Panu Kalmi, Eeva Kerola
Interest rate forecasts, state price densities and risk premium from Euribor options
Vesela Ivanova, Josep Maria Puigvert Gutiérrez
Does global liquidity drive commodity prices?
Joscha Beckmann, Ansgar Belke, Robert Czudaj
Openness and the finance-growth nexus
Helmut Herwartz, Yabibal M. Walle
Discretionary ratings and the pricing of subprime mortgage-backed securities
Credit constraints and spillovers from foreign firms in China
Natasha Agarwal, Chris Milner, Alejandro Riaño
State ownership, soft-budget constraints, and cash holdings: Evidence from China’s privatized firms
William L. Megginson, Barkat Ullah, Zuobao Wei
Bank liquidity, stock market participation, and economic growth
Elena Mattana, Ettore Panetti