NOTE: This event took place October 31, 2011. The 91-minute WMV video linked above is an archive of the live streamed event. Clicking the image will launch your Windows Media Player application.

With global stability risks once more on the rise, emerging markets could face another external shock, with sharply lower global growth and a sudden stop in capital flows.  But do countries have the policy room left to handle another shock so soon after the 2008-09 crisis? Or could things be different, given the lessons learned and hefty self-insurance undertaken by many emerging markets?  Will policymakers be able to target emerging  pressure points such as real estate bubbles and balance sheet mismatches?  These are the hot topics that Professors Joshua Aizenman and Márcio Garcia will debate at this PREM Seminar.

GUESTS
Joshua Aizenman
Professor, University of California at Santa Cruz
Márcio Garcia
Associate Professor at the Department of Economics - PUC-Rio

CHAIR
Otaviano Canuto
Vice President and Head of Network, Poverty Reduction and Economic Management Network, World Bank

DISCUSSANT
Augusto de la Torre
Chief Economist, Latin America and Caribbean Region, World Bank