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About the Conference

About RBI-ADB Conference on Management of Capital Flows

November 19~20, 2012

During the past decade, the global gross capital flows increased substantially, indicating growing interconnectedness, particularly between advanced economies and emerging market economies. These flows were driven by a "search for yield" and aided by some reduction in regulatory barriers, and were increasing till 2007, before contracting sharply in the aftermath of the global financial crisis. Moreover, the capital flows tended to be volatile, and posed significant challenges to central bankers. With the onset of the global crisis, and increase in the volatility of capital flows, the pace of both tightening and easing measures related to capital flows has picked up. With the increasing challenges posed by capital flows particularly for the monetary policymakers, there has also been considerable research on the subject.

     The present Conference on Management of Capital Flows, jointly organised by Reserve Bank of India and the Asian Development Bank in Mumbai, India, during November 19-20, 2012 is an attempt to understand the issues in capital flows management and provide policy-relevant inputs for practitioners. This Conference will provide the participants with an opportunity to examine what drives capital flows, why are they so volatile, how to design the policies to address them and what are the challenges for capital account management particularly in EMEs. The participants include senior central bankers, academics, representatives of multilateral institutions and private sector experts.

     The Conference will have three technical sessions on the first day, followed by two panel discussions on the second day. The technical sessions will focus on (i) compositional shift and volatility of capital flows; (ii) challenges of capital account management; and (iii) select country experiences regarding objectives of capital flows management (CFM), instruments and their effectiveness. Eminent economists from across the globe will present papers and be discussants on the papers presented. The country perspectives are expected to provide useful input for understanding capital account management matrix, insights into best international practices and policy inputs for practitioners of central banking. The three technical sessions will be followed by two panel discussions on the second day of the Conference. The panelists will be deputy governors and senior central bankers having experience in the management of capital flows.

     The panel discussions will debate on various issues such as whether capital controls minimise volatility; what additional instruments are required to deal with volatility; how to distinguish between capital controls and macro-prudential tools; whether capital flow management is required in source countries; reserve adequacy in the backdrop of capital flow volatility; is there a need to change the approach to capital account liberalization; changes required in the international financial architecture to manage capital flow volatility; and, do regional financial arrangements help in periods of capital flow volatility.

List Of Delegates 2

List of Delegates

Name Institution
Xiaoyu Zhao Asian Development Bank
Hao Zhang Asian Development Bank
Bruno Carrasco Asian Development Bank
Hun Kim Asian Development Bank
Hiranya Mukhopadhyay Asian Development Bank
Narahari Rao Asian Development Bank
Abhijit Sen Gupta Asian Development Bank
Rana Hasan Asian Development Bank
Rosa Mia Arao Asian Development Bank
Venkateswara Rao Penta Asian Development Bank
Ashok Lahiri Asian Development Bank
Kristin Forbes Massachusetts Institute of Technology
Thomas Moser Swiss National Bank
Joseph Gagnon Peterson Institute for International Economics
Michael Klein Fletcher School, Tufts University
Anil Bisen Ministry of Finance
Matias Vernengo Banco Central De La Republica Argentina
Jonathan D. Ostry International Monetary Fund
Sugata Marjit Centre for Studies in Social Sciences, Calcutta
Luiz Awazu Pereira Da Silva Central Bank of Brazil
Errol D’Souza I.I.M. Ahmedabad
Hartadi A. Sarwono Bank Indonesia
Firman Mochtar Bank Indonesia
Peter Jacobs Bank Indonesia
Wilhelmina Manalac Bangko Sentral ng Pilipinas
Sangdai Ryoo Bank of Korea
Manuel Marfán Central Bank of Chile
Keen Meng Choy Monetary Authority of Singapore
Suthasinee Nimitkul Bank of Thailand
Kleddao Sungnet Bank of Thailand
Shankar Acharya Indian Council For Research on International Economic Relations
Aishath Zahira Maldives Monetary Authority
BDWA Silva Central Bank of Sri Lanka
Isabelle Joumard OECD
Piritta Sorsa OECD
Dharmakirti Joshi CRISIL
Samiran Chakraborty Standard Chartered Bank
Ajit Ranade Aditya Birla Group
Abheek Barua HDFC Bank
Ashima Goyal Indira Gandhi Institute of Development Research
Saugata Bhattacharya Axis Bank
Shubhada M Rao Yes Bank Ltd
Indranil Pan Kotak Mahindra Bank Ltd
Chetan Ghate ICRIER
Anant Rajwade A.V.Rajwade & Co. Pvt. Ltd.
K.Kanagasabapathy EPW Research Foundation
Avadhoot Nadkarni University of Mumbai
Y.H. Malegam S. B. Billimoria & Company
Sonal Varma Nomura Financial Advisory and Securities (I) Ltd
Sajjid Chinoy J.P. Morgan
Rajendra Vaidya Indira Gandhi Institute of Development
T C A Ranganathan Export-Import Bank of India
Pradeep Agarwal Institute of Economic Growth
Madan Sabnavis Credit Analysis & Research Ltd.
Kalyanasundaram Selvaraj State Bank of India
Tamal Bandyopadhyay, The Mint, HT Media Ltd.
A K Bhattacharya Business Standard
Mythili Bhusnurmuth Economic Times
Sampathkumar The Hindu Business Line
M.K. Venu Financial Express
Victor Mallet Financial Times
Paul Beckett Wall Street Journal
Patrick Foulis The Economist
Ira Dugal NDTV
Latha Venkatesh CNBCTV-18
Vivek Law Bloomberg UTV Ltd.
George Cherian ET Now
Subir Gokarn Reserve Bank of India
Anand Sinha Reserve Bank of India
H R Khan Reserve Bank of India
V K Sharma Reserve Bank of India
G Gopalakrishna Reserve Bank of India
Deepak Mohanty Reserve Bank of India
S. Karuppasamy Reserve Bank of India
R Gandhi Reserve Bank of India
P. Vijaya Bhaskar Reserve Bank of India
B. Mahapatra Reserve Bank of India
G Padmanabhan Reserve Bank of India
Jasbir Singh Reserve Bank of India
Grace Koshie Reserve Bank of India
J B Bhoria Reserve Bank of India
B M Misra Reserve Bank of India
M D Patra Reserve Bank of India
S V S Dixit Reserve Bank of India
K.U.B. Rao Reserve Bank of India
Balbir Kaur Reserve Bank of India
A. Sardar Reserve Bank of India
B.K.Bhoi Reserve Bank of India
Pradeep Maria Reserve Bank of India
Sandip Ghose Reserve Bank of India
G Mahalingam Reserve Bank of India
Madhumita Sarkar-Deb Reserve Bank of India
Sujatha Elizabeth Prasad Reserve Bank of India
R N Kar Reserve Bank of India
A. B. Chakrabarty Reserve Bank of India
A K Srimany Reserve Bank of India
Alpana Killawala Reserve Bank of India
Rekha Warrier Reserve Bank of India
C. D. Srinivasan Reserve Bank of India
G. Jaganmohan Rao Reserve Bank of India
Deepak Singhal Reserve Bank of India
K.K.Vohra Reserve Bank of India
Vijay Chugh Reserve Bank of India
D. Sivanandan Reserve Bank of India
Jaya Mohanty Reserve Bank of India
S M Pillai Reserve Bank of India
Mohua Roy Reserve Bank of India
Rajan Goyal Reserve Bank of India
Anupam Prakash Reserve Bank of India
Bhupal Singh Reserve Bank of India
Mridul Saggar Reserve Bank of India
Ajay Prakash Reserve Bank of India
S. Arunachalaramanan Reserve Bank of India
R. K. Jain Reserve Bank of India
Rekha Mishra Reserve Bank of India
A. Karunagaran Reserve Bank of India
P. K. Nayak Reserve Bank of India
Gunjeet Kaur Reserve Bank of India
Sangita Mishra Reserve Bank of India
Himanshu Joshi Reserve Bank of India
Somnath Chatterjee Reserve Bank of India
Deepa Raj Reserve Bank of India
Ashok K. Sahoo Reserve Bank of India
S. K. Hansda Reserve Bank of India
Ajay K Jha Reserve Bank of India
J. P. Mishra Reserve Bank of India
M Ramaiah Reserve Bank of India
Rajeev Jain Reserve Bank of India
Arvind K Jha Reserve Bank of India
Dhirendra Gajbhiye Reserve Bank of India
Soumasree Tewari Reserve Bank of India
Ashita Anandi Reserve Bank of India
P S S Vidyasagar Reserve Bank of India
Somnath Sharma Reserve Bank of India
P S Rawat Reserve Bank of India
Kumar Rishabh Reserve Bank of India
J. K. Khundrakpam Reserve Bank of India
S. Pattanaik Reserve Bank of India
A. K. Mitra Reserve Bank of India
R. Kausaliya Reserve Bank of India
N. B. Raje Reserve Bank of India
T. Gopinath Reserve Bank of India
Kumudini Hajra Reserve Bank of India
Sangeeta Das Reserve Bank of India
Ajit Prasad Reserve Bank of India
Y. Jaya Kumar Reserve Bank of India
Surajit Bose Reserve Bank of India
Dipika Das Reserve Bank of India
Gopal Prasad Reserve Bank of India

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