Global Economic Symposium

8/18/2019 Global Economic Symposium

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Global Economic Symposium

Finding Solutions. Together.


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About the GES

The Global Economic Symposium (GES) is a high-level solution forum organized annually bythe Kiel Institute for the World Economy, a renowned Think Tank in the eld of global economic

affairs, in cooperation with well-known international partner institutions. Established in 2008,the GES challenges leading international decision-makers from academia, business, politics,international organizations and civil society to develop new solutions to major global problems.

Due to their global dimension, the challenges addressed at the GES cannot be solved bynational policy instruments alone, but require global cooperation and dialogue. Examples of

these challenges are nancial crises, climate change, energy security, poverty and inequality,unemployment, migration, education decits, or decient global governance.

The GES seeks to initiate such cooperation and dialogue by providing an ongoing strategicprocess, in which the global community generates ideas, develops visions and pursues con-crete projects. The process is supported by a research base provided by researchers from theKiel Institute for the World Economy. The outcomes of each GES are summarized in variouspublications. The most promising solutions proposed at the GES 2014 are presented in the“GES Selected Solutions 2014/15,” which is available for download.

What makes the GES special?

• It is solution-oriented, distinguishing itself from mere discussion fora. Formulating con-crete policies and business strategies to tackle global problems is the major goal.

• It is research-based, making facts and knowledge a top priority. State-of-the-art researchis underlying all the sessions and is published in the GES Knowledge Base.


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SolutionProposals

and Im-plementation

Global Economic

Symposium

Analysisin the

Virtual GES

Identifcationof GlobalProblems

The GES Process

In order to implement these distinctive features and to initiate a fruitful interaction amongits participants, each Symposium is embedded in the following process:

First, the main themes and topics are communicated in advance to stakeholders of theSymposium and the GES Community, in order to elicit diverse perspectives on the specied

global problems.

Second, in the GES Knowledge Base, the web-based information and discussion platform ofthe GES, background information and proposals are presented. Panelists are expected to di-gest the information and initiate discussions with the involvement of the wider GES Community.

Third, the Symposium takes place. The GES panels debate the proposals described and dis-cussed in the Knowledge Base of the Virtual GES.

Finally, the results and solutions of each Symposium are summarized and published onlineand in print. In order to encourage implementation, they are communicated to internationalcommunities of leading policy-makers and researchers. Thereby, the GES initiates an ongoing

dialogue on global problem-solving.


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“I am sure the

symposium will

go from strength

to strength and

make a valuable

contribution to

answering the

pressing ques-

tions facing ourglobal economy.”

Joaquín Almunia

Former Vice-President and Commissioner forCompetition, European Commission

“In these turbulent

times, the discus-

sions during the

GES have pro-

vided lots of foodfor thought. And

indeed, also pro-

vided interesting

and new solutions

for the many

challenges in the global economy.”

Hans-Paul Bürkner

Chairman, The Boston Consulting Group

“The content andformat to focus on

policy implications

with the input of

most-important

experts and

stakeholders was

excellent. This is

one of the rare

occasions where

attendants and panelists really take home

new insights.”

Aart De GeusChairman and CEO, Bertelsmann Stiftung

“If you want bril-

liant economic

analysis com-

bined with practi-

cal solutions to

the world’s chal-

lenges, then GES

is the right forumfor you. Just bring

an open mind!”

Irene Natividad

President, Global Summit of Women


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“As advertised,

it offered some

interesting and

well-considered

proposals to

solve very thorny

global problems.”

Eric Stark Maskin

Nobel Laureate; Professor ofEconomics, Harvard University

“A great occasion

for an interest-

ing exchange of

views efciently

organized by the

GES. Congratula-

tions to the Kiel

Institute for the

World Economy.”

Yves Leterme

Secretary-General International IDEA

“GES is a unique

solution-oriented

platform which

enables academ-ics, policy- and

decision-makers,

leaders of inter-

national organiza-

tions as well as

prominent busi-

ness people to nd solutions to fundamen-

tal global problems.”

Minister Mehmet Şimşek

Finance Minister of Turkey,Member of the GES Advisory Board

“One of the plea-

sures, and the

thrills of GES

have been to

see, how expert,

smart, engaged

and passionate

people mix and

match ideas, chal-

lenge orthodoxy

with fact and refashion the conversationabout the future of us.”

Ted C. Fishman

Journalist


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Selected Themes and Sessions 2008–2014

Central Banking and Monetary

Policy

Reassessing Central Banking

The Future of Central Banking: InationTargeting vs. Financial Stability

The Future of Central Banking and FinancialMarket Reform

Monetary Policy and Income Inequality

How to Deal With Crises and Risk

The Psychology of Financial Crises

Fighting Sovereign Debt Crises Worldwide

Coping with Systemic RiskRedesigning Fiscal Consolidation and DebtManagement

Fiscal Consolidation through Fiscal Rules?

Holistic Approaches to Solve the Euro Crisis

The New Global Financial Architecture

Migration

Designing Immigration Policy

Fighting Against Poverty in the Crisis After-math

Making Migration Work after the Crisis

Preparing for Environmental Migration

Migration, Integration and Identity

Designing Intelligent Labor Migration Policies

Fostering a Fair Deal on Talent

Creating Virtuous Talent Triangles for LaborMigrants: An Asian Perspective

Supply Chains and Trade

Reconsidering the International TradingSystem

Towards Global Trade under Global Rules

Reconciling Trade and Carbon Governance

Rebalancing Trade and Capital Flows

Global Supply Chains and Sustainability

Shaping a Free and Fair World Trade Order

Climate Change

Global Policy Responses to Climate Change

Establishing a Global Climate Regime

Climate Change and Economic Development

Managing Adaptation to Climate Change inthe Developing World

Climate and Competitiveness

Energy and Electricity

Energy versus Climate Change

The Energy Crisis and Climate Change

Bioenergy and Land Use in DevelopingCountries

Towards a Global Electricity Market

Pioneering Smart Electricity Systems

Reassessing Renewable Energies

Exploring Energy Resources in the ArcticOcean

Towards a Sustainable Energy Mix

Decentralizing Energy Supply

Bringing Electricity to the Poor

What is the GES about? It deals with problems of global relevance.

Here are some of the Symposium’s main themes and topics in recent years.


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Selected Solutions 2008–2014

Challenge

The traditional pre-crisis view was that monetarypolicy and nancial regulation were separate tasks

and should be conducted by separate institutions.In the post-crisis period, there is disagreement overwhether central banks should be actively involved inmonitoring and regulating the banking system. Whatis the scope of monetary policy?

What are the desirable objectives of central banks?Should nancial market supervision be a central bank

task? How should the central bank deal with poten-tial conicts of interest? Does the additional mandate

make central banks more prone to political inuence?Will the additional mandates endanger the credibilityof central banks in maintaining price stability?

Solution: Macroprudential regulation

should be located at central banks

Central banks have a signicant advantage in gath-ering and processing the information necessary formacroprudential policy. Moreover, recent researchsuggests that capital ratios are higher and bank creditbooms are less prevalent where the central bank isthe lead supervisor. Major central banks such as theFederal Reserve, the European Central Bank andthe Bank of England have already announced theirextended mandate for nancial stability. Nonetheless,

it must be ensured that structures are in place that

deal with the conicts of interest that arise due to thisextended mandate.

Central Banking and Monetary Policy

Session: The Future of Central Banking and Financial Market Reform (GES 2013)

The GES searches for solutions. Find here the abstracts of a selection of promising

solutions that have been developed in the GES process and are related to its main topics.

Challenge

The European Monetary Union is facing the great-

est challenge of its history thus far. High unemploy-ment in a number of member countries, the need forsubstantial consolidation of the budgets of numerousgovernments and distressed banks are symptoms ofeconomic misalignments and economic policy failurethat threaten not only prosperity in Europe, but theEuropean project as a whole.

Is there a common view on the roots of the crisis?What are the relevant alternatives in the currentsituation? To what extent have anticrisis measuresand their consequences narrowed down the set offuture policy options? Does a monetary union nec-essarily imply scal union and common economic

governance?

Solution: Bank resolution in Europe should

involve systematic bail-ins via contingent

conversion of debt to equity

To prevent bank insolvencies from destabilizingthe nancial system, a European Bank Resolution

Agency (EBRA) should be established. The EBRAwould resolve distressed banks in an orderly wayand recapitalize them if appropriate. Remaining ESMfunds should be exclusively used for this purposeand lenders would participate in the losses incurredby failing banks to the utmost extent. To strengthenthe future loss absorption capacity of banks, all newdebt-based nancing of banks should be subject to

a conversion clause that stipulates that bank debt is

automatically converted into equity if the equity ratiofalls below a certain threshold.

How to Deal With Crises and Risk

Session: Holistic Approaches to Solve the Euro Crisis (GES 2013)


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Selected Solutions 2008–2014

Challenge

The policy agenda for achieving pro-poor growth in-cludes a number of fairly uncontroversial measures,such as universal primary education and the provi-sion of social funds for the poor. There is much less

consensus about interventions to address inequalitywithin developing countries, even though they mightdirectly contribute to poverty reduction, especially invery unequal societies. For example, should a povertystrategy focus directly on growth or instead concen-trate on empowering the poor to benet from growth?

How can inequality be reduced in ways that stimulateeconomic growth?

Solution: Promote “circular migration,”

increase number of professionals

Circular migration can be supported through re-entryvisas for migrants on renewable short-term contracts,portable pensions, and other social benets to avoid

the “brain drain.” “Ethical recruitment” practices andmeasures to improve working conditions, infrastruc-ture and career opportunities for high-skilled person-nel in developing countries should accompany theacquisition of professionals from sectors exposed tothe brain drain. Countries who take on skilled profes-sionals from developing countries should pay for theskills and the training that have been invested in them,so the number of professionals could be increased.

Migration

Session: Fighting Against Poverty in the Crisis Aftermath (GES 2009)

Challenge

International production chains have become morefragmented over recent decades. Participation al-lows countries to share in the gains of globalizationby performing only those tasks in which they have acomparative advantage. This is generally believed tostimulate economic development but comes, howev-er, at a cost if global value chains are not sustainable.

This encompasses concerns related to labor, healthand safety standards for workers as well as environ-mental considerations. This is often, but not exclusive-ly, a problem in transition and developing countries.Is participation in global value chains a path towardseconomic development?

Solution: Diversify the global supply chain

through involvement of women entrepre-

neurs worldwide

Given the fact that small business underpins everyeconomy of the world, the engagement of supplierswith excluded groups, such as women, minorities andmigrants, expands an emerging cadre of SMEs, forwhich inclusion in the global supply chain not only en-

ables their own businesses to move up to the nextlevel, but also provides the base for sustainable lo-cal economies. There are already existing efforts bycorporations and governments. The challenge is toscale up these efforts by engaging more companiesand countries in existing initiatives. The GES can cre-ate a forum to exchange these best practices from thepublic and private sectors.

Supply Chains and Trade

Session: Global Supply Chains and Sustainability (GES 2014)


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Challenge

In policy discussions of climate change, mitigation hasbeen the main focus to date but adaptation to climatechange is moving up the policy agenda. Simulation

models suggest that the negative effects of climatechange disproportionately fall on the developingworld. Some argue that such effects have alreadystarted to become visible, e.g., in the form of agricul-tural damage. Moreover, the poor have very limitedcapacities and resilience for coping with climate change.Focusing on adaptation in low-income countries cantherefore yield a large benet in terms of social wel-fare. Which combinations of adaptation strategies aremutually reinforcing and which ones conict with each

other?

Solution: Use index insurance and reinsure

national carriers

Greater climate volatility will lead to more frequentlosses from extreme weather events. When tradi-

tional insurance contracts are not feasible, possi-bly because of high administrative costs, innovativeapproaches such as index insurance may be able toreach the poor.

Damage from major natural disasters may be large:therefore, national carriers need to be effectivelyreinsured. Since high-income countries are respon-sible for most greenhouse gas emissions and hencefor most climate change, they should support insur-ance for climate risks in developing countries throughappropriate transfers.

Climate Change

Session: Managing Adaptation to Climate Change in the Developing World

(GES 2011)

Challenge

In 2010, one fth of the World’s population—or 1.4 bil-lion people—did not have access to electricity (IEA,

2013), 10 to 14 percent of the population in Indiaand other Asian developing countries will still have

no access in 2030. This means no (easy) access tohot water, water pumps, clean cooking and lightingappliances, or telecommunications. Affordable andeasy access to electricity is a key factor not only foreconomic, social and educational development butalso for improving the general health and well-beingof the poor.

Can governments, communities, and businessescooperate in nancing, designing and operating the

necessary electricity infrastructure in the developingworld?

Solution: Train mature women from poor

communities as solar engineers

Barefoot College trains women from rural communi-ties to be solar engineers thus providing access toelectricity for poor rural areas as well as developing

women’s potential. Since 1989, Barefoot College’sagship solar electrication program has trained

664 illiterate and semiliterate women. They haveelectried 40,000 rural households in 1,265 villages

in 64 countries to serve more than 500,000 peopledirectly. They install and maintain equipment andreceive a salary for their services. This guaranteeslongevity of the installations and long-term self-sufciency and creates upward mobility for an entire

community.

Energy and Electricity

Session: Bringing Electricity to the Poor (GES 2014)


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Contributing Institutions over the Years

Strategic Partners

Bertelsmann StiftungFielmannVeolia UmweltserviceWintershallZBW – German National Library of Economics –

Leibniz Information Centre for Economics

Partners, Sponsors, Media and

Knowledge Partners

Alexander von Humboldt Gymnasium Neumünster Alfried Krupp von Bohlen und Halbach-Stiftung AmCham Germany Anne-Frank-Schule Bargteheide Art Grup Artworks Asian Institute of Management Atlantic Hotel Kiel Audi Axel Springer

Bloomberg HATBooz&co.Bundesverband Deutscher Unternehmens-

berater e.V.Bureau of European Policy AdvisersBusinessland Schleswig-Holstein

Central Bank of the Republic of TurkeyChina Center for International Economic ExchangesCittiClub de MadridCNBC-e

DB Mobility Networks LogisticsDeAsiaDer Kieler Kaufmann e.V.Deutsche BankDeutsche Gesellschaft für Internationale Zusammen-

arbeit (GIZ) GmbHDeutsche TelekomDeutsche WelleDeutsche Welle Media ForumDHL Global MailDie StiftungDoğuş Group

Dräger Foundation

EdelmanEffect Public RelationsEon HanseErnst & YoungESN - Energie Systeme NordEuro IntelligenceEuro-Mediterranean AssociationEuropean Climate FoundationEuropean CommissionEvangelisch-Lutherische Kirche in Norddeutschland

Fachschaft WiSo an der Universität KielFalling WallsFamilaFörde SparkasseForum CSR internationalFrerichs GlasFundação Getulio VargasFuture Challenges

Garantie PortföyGerman Chamber of Industry and Commerce in Brazil

German Maritime Security

Global Governance InstituteGlobal Institute for TomorrowGrundhitzeGrupo JSLGymnasium AltenholzGymnasium Wellingdorf

Hamburg Chamber of CommerceHartmann Winkelmann Bauer Heinrich Böll StiftungHeinrich Knievel KielHeinz Nixdorf StiftungHering Schuppener Hermann Hinrichs BonbonkochereiHP Hewlett-PackardHSH NordbankHürriyetHürriyet Daily News & Economic Review

IHK Schleswig-HolsteinIndia Development FoundationInstitute for International Strategy and Information Analysis, Inc.

Institute for New Economic ThinkingInstitute for Security Policy at Kiel University

Internationaler Wirtschaftssenat


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Invest in VisionsInvestitionsbank Schleswig-HolsteinIstanbul 2010 - European Capital of Culture

Kaufmannschaft zu LübeckKersig ImmobilienKiel Sailing CityKieler NachrichtenKoç UniversityKPMG

KWS Kieler Wach- und SicherheitsgesellschaftLumenogic

Manager MagazinManpower GroupMax JenneMediatenor MedicanaMetroMinistry of Economic Affairs, Employment, Transport

and Technology, Schleswig-HolsteinMinistry of Science, Economics and Transport,

Schleswig-Holstein

NestléNobels Colloquia

OAV – German Asia-Pacic Business Association

OECD ForumOECD LibraryOnly GlassOxford Analytica

PorschePower – Personen-Objekt-WerkschutzProject Syndicate

PromostudioProvinzial

RedisaRichard-Hallmann-Schule TrappenkampRixos Hotels

Salo + Partner Sartori & Berger Scuderi EngineSicherheit NordSiemensSOS Children’s Villages

Springer-EMS Pte LtdStadtwerke KielStatistaSüverkrüp Ahrendt

TAM AirlinesTAV AirportsThe Banks Association of TurkeyThe Royal Bank of Scotland Group (RBS)Towers WatsonTUITurk TelekomTurkish AirlinesTüsiadTuskon

Universiti Teknologi Mara

UP° Unternehmer Positionen Nord

VaryapVater UnternehmensgruppeVattenfallVereinigung der Unternehmerverbände in Hamburg

und Schleswig-Holstein e.V.Verkehrsbetriebe Kreis PlönVolkswagen

Wiedeking StiftungWise Pens International

Zöllner Zurich Re


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Selected Speakers 2008–2014

Business

George Atalla, Global Sector Leader, Governmentand Public Sector, Ernst & Young

Martin Bachmann, Member of the Board,Wintershall Holding

Shumeet Banerji, Member of the Board of

Directors, Hewlett-Packard CompanyPaul Bulcke, CEO, Nestlé SAHans-Paul Bürkner , President and CEO, The

Boston Consulting Group

Victor Chu, Chairman and CEO, First EasternInvestment Group

Alieu Conteh, Chairman of the Board, AfricanWireless

Diane Coyle, CEO, Enlightenment Economics

Antoine Firmenich, Founding Partner, AlatusCapital, Singapore

Jürgen Fitschen, Co-CEO, Deutsche Bank

Sergio Gabrielli, Former President and CEO,Petróleo Brasileiro S.A. – Petrobras

Kris Gopalakrishnan, Co-Founder and ExecutiveCo-Chairman, Infosys Limited

John J. Haley, Chairman of the Board and CEO,Towers Watson

Paul Holthus, Founding President and CEO,World Ocean Council

Axel Hörger , CEO of UBS Germany and CEOWealth Management Germany, UBS AG

William Janeway, Senior Advisor, Warburg Pincus

Temel Kotil, President and CEO, Turkish AirlinesBarbara Krumsiek, President, CEO and Chair,

Calvert Investment, Inc.; Director and Chair, Acacia Life Insurance Company

Aolin Liu, Executive Director of Research Depart-ment, China International Capital Corporation

Ana M. Llopis Rivas, Chairperson of the Board,Distribuidora Internacional de AlimentaciónS.A.(DIA)

Michael Mack, CEO, Syngenta InternationalThomas Mirow, Chairperson of the Supervisory

Board; Chairman of the Supervisory Board,HSH Nordbank

Charon bin Mokhzani, Managing Director,Khazanah Research Institute, Malaysia

René Obermann, CEO, Deutsche Telekom AG

Geoff Riddell, Member of the Group ExecutiveCommittee, Zurich Insurance Company

Suzan Sabancı Dinçer , Chairperson and

Executive Board Member, AkbankRolf Salo, Chairman of the Board, SALOBurkhard Schwenker , CEO and Chairman of

the Supervisory Board, Roland Berger StrategyConsultants

Jane Shaw, Chairperson of the Board of Directors,Intel Corporation

Adam Sweidan, Founder and CIO, Aurum FundManagement

Johannes Teyssen, CEO, E.ONAlbert Ting, Chairman, CX Technology Corporation

Axel Weber , President of the Board of Directors,UBS AG

Heinrich Weiss, Chairman of the SupervisoryBoard, SMS group

Changzheng Zou, President, Baosteel Europe

Politics

Montek Ahluwalia, Deputy Chairman, PlanningCommission, Government of India

Martti Ahtisaari, Founder and Chairman of theBoard, Crisis Management Initiative

Joaquín Almunia, Vice-President and Commission-er for Competition, European CommissionH.R.H. Prince Turki Al Faisal Alsaud, Founder and

Trustee, King Faisal FoundationH.E. Sheikha Lubna Al Qasimi, Minister of Foreign

Trade, United Arab EmiratesLászló Andor , EU Commissioner for Employment,

Social Affairs and Inclusion, European CommissionSir Michael Arthur , Former Ambassador to

Germany of the United Kingdom

Ali Babacan, Deputy Prime Minister and Ministerof State, Turkey

Erdem Başçı, Governor, Central Bank of TurkeyAnders Borg, Minister of Finance, Sweden

Afliations are those at the time of GES attendance.


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Ömer Dinçer , Minister of Labor and SocialSecurity, Turkey

Recep Tayyip Erdoğan, Prime Minister, Turkey

José Maria Figueres Olson, President, CarbonWar Room

Abdullah Gül, President, Turkey

Wim Kok, President, Club de MadridChung-Ming Kuan, Minister, National Development

Council

Pascal Lamy, Honorary President, Notre Europe,Jacques Delors Institute

Trevor Manuel, Minister in the Presidency, NationalPlanning Commission, South Africa

Charity Kaluki Ngilu, Minister of Water andIrrigation, Kenya

Supachai Panitchpakdi, Secretary-General,UNCTAD

Batool I. Qureshi, Federal Secretary, The Ministryof Women Development, Pakistan

H.E. Jerry John Rawlings, Former President,Ghana

Sanusi Lamido Sanusi, Governor, Central Bankof Nigeria

Wolfgang Schüssel, Member of the SupervisoryBoard, RWE; Former Federal Chancellor, Austria

Mehmet Şimşek, Minister of Finance, Turkey

Adair Turner , Senior Fellow, Institute for NewEconomic Thinking

Robert Wainwright, Director, Europol

International and Non-Governmental

Organizations

H.E. Nana Konadu Agyeman-Rawlings, President,31st December Women’s Movement

Lester Brown, Founder and President, Earth PolicyInstitute

John H. Bryant, Founder, Chairman and CEO,Operation HOPE Inc.

Aart De Geus, Chairman and CEO, BertelsmannStiftung; Former Deputy Secretary General, OECD

Ashraf Ghani, Co-Founder, The Institute for StateEffectiveness

Anthony Gooch, Director of Public Affairs andCommunications, OECD

Caio Koch-Weser , Chairman, European ClimateFoundation

James P. Leape, Director General, WWF Yves Leterme, Deputy Secretary-General, OECDLaura Liswood, Secretary-General, Council of

Women World Leaders; Senior Advisor, GoldmanSachs

Thomas Mirow, President, European Bank forReconstruction and Development

Mahmoud Mohieldin, Corporate Secretary andPresident’s Special Envoy, World Bank

Liz Mohn, Member of the Supervisory Board,Bertelsmann Stiftung

Irene Natividad, President, Global Summit ofWomen

Mathieu Ricard, Founder, Karuna-ShechenSanjit Bunker Roy, Founder, Barefoot College

Nemat Shafk, Deputy Managing Director,International Monetary Fund

George Soros, Founder and Chairman, OpenSociety Foundations

Barbara Unmüßig, President, Heinrich BöllFoundation

Academia

George A. Akerlof , Nobel Laureate; Professor ofEconomics, University of California, Berkeley

Richard E. Baldwin, Professor of InternationalEconomics, Graduate Institute of Internationaland Development Studies, Geneva

Amar Bhidé, Thomas Schmidheiny Professor,The Fletcher School of Law and Diplomacy,Tufts University

Willem Buiter , Chief Economist, Citibank;Professor of European Political Economy, LSE

Paul Collier , Professor of Economics, Universityof Oxford

John Deutch, Institute Professor of Chemistry,MIT; Former Director, CIA


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Selected Speakers 2008–2014

Barry Eichengreen, Professor of Economicsand Political Science, University of California,Berkeley

Richard Ernst, Nobel Laureate; Swiss FederalInstitute of Technology, Zurich

Charles Goodhart, Emeritus Professor of Bankingand Finance, The London School of Economicsand Political Science

Pablo E. Guidotti, Professor at the School ofGovernment and Member of the Board of

Directors, Universidad Torcuato di Tella, Argentina

Robert A. Johnson, President, Institute for NewEconomic Thinking

Anne O. Krueger , Professor of InternationalEconomics, SAIS, Johns Hopkins University;Senior Fellow, Stanford Center for InternationalDevelopment

George Lakoff , Professor of Linguistics, Universityof California, Berkeley

Edward Lazear , Professor of Human ResourcesManagement and Economics, Stanford Graduate

School of BusinessAssar Lindbeck, Professor of International

Economics, Stockholm University

Eric Stark Maskin, Nobel Laureate; Professorof Economics, Harvard University

Daniel L. McFadden, Nobel Laureate, Professorof Economics, University of California, Berkeley

Robert Mundell, Nobel Laureate, Professor ofEconomics, Columbia University

Chandran Nair , Founder and CEO, Global Institutefor Tomorrow

Maurice Obstfeld, Professor of Economics,University of California, Berkeley

Edmund Strother Phelps, Nobel Laureate;Professor of Political Economy, ColumbiaUniversity

Robert Shiller , Professor of Economics, YaleUniversity

Tania Singer , Director, Department of SocialNeuroscience, Max Planck Institute for HumanCognitive and Brain Sciences

Michael Spence, Nobel Laureate; Chairman,Commission on Growth and Development

Joseph E. Stiglitz, Nobel Laureate; Professor,School of International and Public Affairs (SIPA),Columbia University

Tze-Chen Tu, General Director, Centre of Knowl-edge-based Economy and Competitiveness,Industrial Technology Research Institute

David Tuckett, Professor and Director of theCentre for the Study of Decision-MakingUncertainty, University College London

Astrid Tuminez, Regional Director, Legal and

Corporate Affairs (LCA), Southeast Asia,Singapore

Joachim von Braun, Director, Centre forDevelopment Research, University of Bonn

Eric Weinstein, Managing Director, Thiel Capital,USA

Guntram Wolff , Director, Bruegel Institute

Media

Kerem Alkin, Economy Director, Bloomberg HT

Andrea Cabrini, Director, ClassCNBCEdward Carr , Foreign Editor, The EconomistKim Cloete, Journalist, MoneywebDeclan Curry, Business Correspondent,

BBC NewsConny Czymoch, Anchor and Journalist,

Phoenix TV

Saugato Datta, Economics Correspondent,The Economist

Misha Glenny, Journalist and Author Nick Gowing, Main Presenter, BBC World

Fiona Harvey, Environment Correspondent,Financial Times

Wolfgang Munchau, Co-Founder and President,Eurointelligence; Associate Editor, Financial Times


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Advisory Board

Chair of the Advisory Board

Sean Cleary, Chairman, Strategic Concepts, South Africa

Academics

Sahol Hamid Abu Bakar , President and ViceChancellor, Universiti Teknologi MARA, Malaysia

Pablo Guidotti, Professor at the School of Gov-

ernment and Member of the Board of Directors,Universidad Torcuato di Tella, ArgentinaRobert Johnson, President, The Institute for New

Economic Thinking, USA

Edward Lazear , Professor of Human ResourcesManagement and Economics, Stanford University,USA

Daniel McFadden, Nobel Laureate; Professor ofEconomics, University of California, Berkeley,USA

Richard Portes, Professor of Economics, LondonBusiness School, UK

Carlos Simonsen Leal, President, Fundação

Getulio Vargas (FGV), BrazilKlaus Tochtermann, Director, ZBW-LeibnizInformation Centre for Economics, Germany

Policy- and Decision-Makers

Sir Michael Arthur , Former Ambassador toGermany, Embassy of the United Kingdom,Germany

Erdem Başçı,Governor, Central Bank of Turkey,Turkey

Pascal Lamy, Honorary President, Notre Europe -

Jacques Delors Institute, FranceArun Maira, Former Member, Planning Commissionof India, India

Mahmoud Mohieldin, Corporate Secretary andPresident’s Special Envoy, World Bank, USA

Mehmet Şimşek, Minister of Finance, TurkeySir Peter Torry, Former Ambassador to Germany,

Embassy of the United Kingdom, GermanyViviane Reding, Former Vice-President of the

European Commission; Member of the EuropeanParliament, Belgium

Yutaka Yamaguchi, Former Deputy Governor,Central Bank of Japan, Japan

Leaders of International and Non-

Governmental Organizations

Martti Ahtisaari, Nobel Laureate; Founder andChairman of the Board, Crisis ManagementInitiative, Finland

Aart De Geus, Chairman and CEO, BertelsmannStiftung, Germany

Caio Koch-Weser , Chair of the SupervisoryBoard, European Climate Foundation, UK

Irene Natividad, President, Global Summit ofWomen, USA

Business Leaders

Hans-Paul Bürkner , Chairman, The BostonConsulting Group, Germany

Victor Chu, Chairman and CEO, First EasternInvestment Group, Hong Kong

Jost de Jager , Senior Advisor, Rochus Mummert,Germany

Richard Evans, CEO (retd.), Alcan Inc and RioTinto Alcan, USA

Jacob Frenkel, Chairman, JPMorgan ChaseInternational, USA

John Haley, CEO, Towers Watson, USAThomas Mirow, Chairperson of the Supervisory

Board, HSH Nordbank, GermanySteffen Naumann, Chief Financial Ofcer, The

Zuellig Group, Hong KongEivind Reiten, Chairman, Strategic Industrial

Capital Partners (SICP), UKGeoff Riddell, Regional Chairman – APMEA,

Zurich Insurance Group, Hong KongAlbert Ting, Chairman, CX Technology Corporation,

TaiwanAstrid Tuminez, Regional Director, Legal andCorporate Affairs (LCA), Southeast Asia, Microsoft,Singapore

Ibrahim Turhan, Chairman and CEO, BorsaIstanbul, Turkey

Jim Zemlin, Executive Director, Linux Foundation, USA

Media

Declan Curry, Business Journalist and ConferenceSpeaker, United Kingdom

Conny Czymoch, International Moderator andJournalist, Germany


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GES 2015

The eighth Global Economic Symposium (GES) will take place in

Kiel

on October 12–14, 2015.

It is the third time that the GES takes place in the hometown of the Kiel Institute for the WorldEconomy (IfW). Following the traditions of GES, the Kiel Institute cooperates with prominent

research institutes, foundations, and civil society organizations as well as top companies worldwide to

organize the GES 2015—a research-based exchange and a solution-oriented symposium.

“Values to Guide Economies”

is the overarching theme of the GES 2015. In about 24 sessions, this year’s GES will explore essential

values and develop value-based, innovative solution proposals to achieve sustainable and equitable

prosperity. The sessions will address global challenges concerned with “Financial Regulation and

Stability,” “Environmental Sustainability,” “Societal Development, Integration and Equality” and “Innovation

and Prosperity.”

Further Information about GES

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Global Economic Symposium (GES)Kiel Institute for the World EconomyKiellinie 66, D-24105 KielPhone: +49(431)8814-1www.ifw-kiel.dewww.global-economic-symposium.orginfo@global-economic-symposium.org

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Global Economic Symposium

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