The Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University (SJTU) hosted a distinguished SAIF-IMF Academic Seminar on October 30th, bringing together leading experts from the International Monetary Fund (IMF) and SAIF's academic community.
The seminar convened prominent figures including Steven Alan Barnett, IMF Senior Resident Representative in China; Galip Kemal Ozhan and Eric Huang, Economists from the IMF Research Department; and Lei Zhang, Economist of the IMF Representative Office in China. SAIF's leadership was represented by Executive Dean and Chair Professor of Accounting Shijun Cheng, Deputy Dean of Academic Affairs and Chair Professor of Finance Hong Yan, and Huifu Chair Professor of Finance Chun Chang. Professor Hong Yan moderated the proceedings.
Dr. Barnett inaugurated the seminar with his presentation "Global Economic Developments and Outlook," offering incisive analysis of global economic recovery trajectories and the challenges confronting major economies. He emphasized the critical need for enhanced international cooperation, strategic debt management, and productivity advancement to foster sustained economic recovery.
In his presentation "The Great Tightening: Insights from the Recent Inflation Episode," Dr. Ozhan examined the multifaceted drivers of inflation, including pandemic-induced demand shifts, supply chain disruptions, and stimulus measures. His analysis revealed that targeted tightening policies can effectively manage inflation while minimizing output costs, particularly when supply constraints are sector specific.
Dr. Huang's presentation, "Understanding the Social Acceptability of Structural Reforms," illuminated how resistance to policy reform extends beyond economic considerations into the realm of behavioral factors, including perception, misinformation, and trust. He advocated for an approach to reform that prioritizes transparency, inclusivity, and trust-building to enhance both policy quality and implementation success.
The seminar featured robust discussion sessions where participants exchanged perspectives on these critical economic themes.
This event builds upon SAIF's ongoing collaboration with the IMF, following a significant visit on June 21st by IMF Chief Economist and Research Department Director Pierre-Olivier Gourinchas and his delegation. Since its founding, SAIF has maintained its commitment to fostering an international platform for financial innovation. The institute looks forward to strengthening its partnership with the IMF to advance global financial market development and innovation.
