Lecture
GLOBAL FINANCIAL CRISIS AND ASIA
Speaker
Dr. Y. V. Reddy
Date
30th October 2009

Key Points

Lecture Summary

  • Causes of the 2008 crisis included excess liquidity, leverage, deregulation, financial innovation, risk-taking, and global imbalances.
  • The crisis originated in advanced financial systems once seen as models.
  • Asia suffered less due to traditional banking, reserves, and stronger macroeconomic management.
  • Need for rebalancing between state and markets, finance and the real economy, national regulation and global finance.
  • Asia's future role depends on governance, infrastructure, human capital, innovation, and regional cooperation.
  • India must use globalization carefully while strengthening its comparative advantages.

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Programme Invitation

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