54th University of Otago Foreign Policy SchoolEconomic Policy in the 21st Century: Challenges and Opportunities

PROGRAMME

This edition of the Foreign Policy School aims at providing a framework for thinking about the challenges economies face in the 21st century and which policy options exist.

During the second half of the 20th century, the world economy experienced a continued phase of expansion in output, trade, and increasing living standards in many parts of the world. This development was driven by stronger global integration, macroeconomics stability, and international economic policies from multilateral cooperation. We have seen that economies have become more connected and that the structure of the international economy has changed.

The world also has become more complex and new challenges emerged making policymaking more demanding. Since the beginning of the 21st century, we have experienced turbulent times with the Global Financial Crisis, a major recession, increased political uncertainty, the return of tariffs undermining the positive global growth effects of trade, and threats to multilateral cooperation with the return of beggar-thy-neighbour policies.

At present, the challenges for economies are several, and this School will explore five interrelated themes:

- Trade and Global Imbalances

- Inequality

- Health

- Environment and Energy

- Financial Markets

While the global economy is facing an uncertain and challenging time, opportunities exist, that can strengthen policy cooperation and foster a new era of sustained global economic growth that sees benefits for all not just a few.

Director: Dr. Dennis Wesselbaum, Department of Economics

Co-Director: Prof. Dr. David Fielding, Department of Economics

Dr Balazs Kiglics Co-ordinator

Associate Professor Jenny Bryant-Tokalau School of Maori, Pacific & Indigenous Studies, University of Otago

Dr Marcelle Dawson Department of Sociology, Gender and Social Work, University of Otago

Dr Heather Devere National Centre for Peace and Conflict Studies, (NCPACS), University of Otago

Professor David Fielding Department of Economics, University of Otago

Honorary Associate Professor Jacqueline Leckie Department of Anthropology and Archaeology, University of Otago

Professor Robert Patman Department of Politics, University of Otago

Dr Simon Ryan Department of Languages and Cultures, University of Otago

Associate Professor Ben Schonthal Department of Theology and Religion, University of Otago

Dr Lena Tan Department of Politics, University of Otago

Associate Professor Paola Voci Department of Languages and Cultures, University of Otago

Dr Dennis Wesselbaum Department of Economics

Academic Committee of the 54th University of Otago Foreign Policy School

Introduction

ProgrammeIntroduction

Friday, 28 June3:30pm Registration

5:00pm Opening of the School

5:00pm Mihi whakatau: Mr Tahu Potiki Te Rūnanga o Ngāi Tahu

5:10pm Rt. Hon. Winston Peters PC, MP, Deputy Prime Minister, Minister of Foreign Affairs, Minister for Disarmament and Arms Control, Minister for State Owned Enterprises, and Minister for Racing

5:50pm Dr Dennis Wesselbaum, Director of the 54th Foreign Policy School

6:00pm Mr David Cull Mayor of Dunedin

6:10pm Professor Richard Blaikie Deputy Vice-Chancellor Research & Enterprise, University of Otago

6:20pm Cocktail Function

Saturday, 29 June8:55am Welcome (Director)

9:00am Hon. David W. Parker, MP, Minister for Trade and Export Growth, Minister for the Environment, Minister for Economic Development, Associate Minister of Finance, and Attorney-General

The Future of the WTO and Trade Structures

Chair: Professor Robert Patman, University of Otago

9:45am Dr Victoria Kwakwa, Vice President, East Asia and Pacific, The World Bank Group

Trade and Development in an Age of Rising Uncertainty

Chair: Dr Vickie Saunders, Ministry of Foreign Affairs and Trade

10:30am Morning Tea

11:00am Professor Mark R. Rosenzweig, Frank Altschul Professor of International Economics and Director, Economic Growth Center, Yale University

Poverty and Health: The New Obesity Epidemic

Chair: Dr. Dennis Wesselbaum, University of Otago

11:45am Dr Michelle Rendall, Department of Economics, Monash University

Income Polarisation and Gender Gaps: The Last Decades

Chair: Dr Neha Agarwal, University of Otago

12:30pm Lunch

1:45pm Professor Markus Brückner, Research School of Economics, Australian National University

Income Inequality and Economic Growth

Chair: Dr Neha Agarwal, University of Otago

Programme

2:30pm Dr Tammy Tabe, Pacific Centre for Environment and Sustainable Development (PaCE-SD), University of the South Pacific

Addressing Climate Change Impacts in the Pacific

Chair: Dr Caroline Orchiston, University of Otago

3:15pm Afternoon Tea

3:45pm Panel 1: Redefining the Global Economy

Chair: Professor Andrew Geddis, University of Otago

Panelists: • Ms Vicky Robertson, Chief Executive and Secretary of the Ministry for the Environment

• Ms Lucie Greenwood, Sustainable Value Team, KPMG New Zealand

4:45pm Professor Mark Howden, Director, Climate Change Institute, Australian National University and Vice Chair, Intergovernmental Panel on Climate Change (IPCC)

Responding to Climate Change: Emerging Issues and Opportunities

Chair: Andrew Cumpston, Australian Deputy High Commissioner

5:30pm End of the Day

Sunday, 30 June8:55am Welcome (Director)

9:00am Mr Geoff Bascand, Deputy Governor and General Manager Financial Stability, Reserve Bank of New Zealand

The Past, Present, and Future of Macroprudential Policy in New Zealand

Chair: Associate Professor Ivan Diaz-Rainey, University of Otago

9:45am Ms Tova O’Brien, Political Editor, Newshub

Communication Breakdown: Collapsing Trust in Government and Media

Chair: Dr. Dennis Wesselbaum, University of Otago

10:30am Morning Tea

11:00am Professor Cathy Mihalopoulos, Chair and Head, Deakin Health Economics, Faculty of Health, Deakin University

Public Policies to improve Mental Health: A View from Health Economics

Chair: Professor Stephen Knowles, University of Otago

11:45am Dr Karen N. Eggleston, Stanford University and NBER

Twenty-First Century Health Systems: Value, Precision, and Healthy Aging

Chair: Professor Stephen Knowles, University of Otago

12:30pm Ms Catherine Leining, Policy Fellow, Motu Economic and Public Policy Research

Forging New Zealand’s Pathway to a Low-Emission Economy

Chair: Associate Professor Ivan Diaz-Rainey, University of Otago

1:15pm Lunch

2:15pm Panel 2: Political Economy of Military Spending

Panelists: • Mr Tom Lord, Second Secretary, British High Commission

• Mr Demian Smith, Acting Deputy Chief of Mission, U.S.Embassy Wellington

• Dr Chris Rothery, Senior Lecturer, Massey University

3:15pm Afternoon Tea

3:45pm Associate Professor Llewelyn Hughes, Crawford School of Public Policy, Australian National University

Sustainable Energy Policy for the Asia-Pacific

Chair: Ms Eva Wagner, Konrad Adenauer Stiftung

4:30pm MFAT Representatives’ Reflections

4:40pm Closing Remarks (Director)

4:45pm End of School

A summary of the subjects and the directors of the successive schools

1 1966 How to Make Foreign Policy Arnold Entwisle (University Extension)2 1967 National Security Arnold Entwisle3 1968 International Agencies Arnold Entwisle4 1969 History of New Zealand’s Foreign Policy Arnold Entwisle5 1970 New Zealand and the Pacific Basin Arnold Entwisle6 1971 Europe in New Zealand’s Foreign Policy Arnold Entwisle7 1972 New Zealand’s Foreign Policy Arnold Entwisle8 1973 New Zealand in a Multipolar World Arnold Entwisle9 1974 New Zealand in the World Economy Arnold Entwisle10 1975 Asia in New Zealand’s Economy Arnold Entwisle11 1976 Sport, Politics and Foreign Policy Dr Niall Carr (University Extension) Dr Erik Olssen (History)12 1977 Arms, Defence and New Zealand Dr Erik Olssen13 1978 New Zealand and Australia Dr Ralph Hayburn (History)14 1979 Economics Strategies and Foreign Policy Dr Ralph Hayburn15 1980 New Zealand and the South Pacific Dr Terry Hearn (University Extension)16 1981 New Zealand and Japan Dr Terry Hearn17 1982 New Zealand and Australia the Changing Relationship Dr Terry Hearn18 1983 Arms Disarmament and New Zealand Dr Terry Hearn19 1984 New Zealand in the World Economy Dr Hyam Gold (Political Studies)20 1985 New Directions in Foreign Policy Dr Hyam Gold

21 1986 New Zealand and China Professor Ann Trotter (History)22 1987 New Zealand, Canada and the United States Professor Ann Trotter23 1988 New Zealand and the ASEAN Countries Dr Ralph Hayburn24 1989 New Zealand the Soviet Union and Change Dr Ralph Hayburn25 1990 The South Pacific Professor Ramesh Thakur (Political Studies)26 1991 Europe Without Walls Dr Roberto Rabel (History)27 1992 Latin America in a Changing World Order Dr Roberto Rabel (History)28 1993 Fifty Years of New Zealand Foreign Policy Making Professor Ann Trotter (Division of Humanities)29 1994 The Middle East After the Cold War Dr William Harris (Geography)30 1995 The United Nations at Fifty Professor Ramesh Thakur (Political Studies)31 1996 State and Sovereignty: Is the State in Retreat? Associate Professor Antony Wood (Political Studies)32 1997 Security in a Post-Cold War World Dr Robert Patman (Political Studies)33 1998 Universal Human Rights? Dr Robert Patman (Political Studies)34 1999 The Global Economy – Continuity and Change Associate Professor Martin Richardson (Economics)35 2000 The American Century? In Retrospect and Prospect Dr Roberto Rabel (History)36 2001 New Zealand-Australia Relations: Moving Together Professor Bob Catley (Political Studies)

37 2002 Globalisation Civil Conflicts and the National Security State Associate Professor Robert Patman (Political Studies)38 2003 The Ethics of Foreign Policy Associate Professor Robert Patman (Political Studies) Dr David Macdonald (Political Studies) Mrs Betty Mason-Parker (Psychology)39 2004 Redefining the Pacific? Regionalism – Past, Present and Future Dr Ian Frazer (Anthropology) Professor Philip Nel (Political Studies)40 2005 Human Security & Development – Meeting the Millennium Development Goals? Dr Jacqueline Leckie (Anthropology) Dr Jenny Bryant-Tokalau (Anthropology) Dr Paul Hansen (Economics)41 2006 Sport & Foreign Policy in a Globalizing World Associate Professor Steve Jackson (Physical Education) Mr Stephen Haigh (Political Studies)42 2007 Environmental Governance and State Autonomy in a Changing Climate Dr Janine Hayward (Political Studies) Ms Marjolein Righarts (Political Studies)43 2008 Power to the People? Public Participation in Foreign Policy Dr Jim Headley (Politics) Mr Andreas Reitzig (Politics) Mr Joe Burton (Politics)44 2009 Dimensions of the Global Food Crisis Associate Professor Hugh Campbell (CSAFE) Dr Chris Rosin (ARGOS) (CSAFE)45 2010 China’s Ascent: New Superpower or New Global System Professor Xiaoming Huang (Director, New Zealand Contemporary China Research Centre, Victoria University of Wellington) Professor Robert Patman (Politics)

46 2011 Science Diplomacy: New Day or False Dawn? Professor Lloyd Davis (Centre for Science Communication) Professor Robert Patman (Politics)47 2012 The Middle East Unfolding: Dreams and Drama in the early twenty-first century Professor William Harris (Politics)48 2013 Pacific Geopolitics in the 21st Century Associate Professor Jenny Bryant- Tokalau (Te Tumu (School of Māori, Pacific and Indigenous Studies)) Dr Iati Iati (Politics)49 2014 Global Resource Scarcity: Catalyst for Conflict or Collaboration? Dr Marcelle Dawson (Sociology, Gender and Social Work) Dr Chris Rosin (CSAFE)50 2015 New Zealand and the World: Past, Present and Future Professor Robert Patman (Politics) Dr Iati Iati (Politics)51 2016 Global Politics: from State to Social Media Associate Professor Paola Voci (Department of Languages and Cultures) Dr Brett Nicholls (Department of Media, Film, and Communication)52 2017 Open and Closed Borders: The Geopolitics of Migration Associate Professor Jacqueline Leckie (Department of Anthropology and Archaeology) Dr Heather Devere (National Centre for Peace and Conflict Studies) Dr Simon Ryan (Department of Languages and Cultures)53 2018 Asia-Pacific Diplomacy in Transition: Ideas, Issues and Institutions Professor Robert G. Patman, Department of Politics, University of Otago Professor Patrick Köllner, Vice President, German Institute of Global and Area Studies

CONTACT PERSON Dr Balazs Kiglics | Coordinator

University of Otago Foreign Policy SchoolTel +64 3 479 8405 | Mobile +64 21 158 5492

Email balazs.kiglics@otago.ac.nz

otago.ac.nz/foreign-policy-school

SPONSORS The organisers gratefully acknowledge the assistance

of the following organisations and agencies:

Continuing Education, University of Otago

Embassy of the United States of America

Konrad Adenauer Stiftung

The Australian High Commission

University of Otago

Ministry of Foreign Affairs and Trade