The Bank Negara Malaysia (BNM), the International Monetary Fund (IMF), and the IMF Economic Review are inviting paper submissions for a conference on “Threats to Globalization in the Aftermath of the Crisis” to be held at the Bank Negara Malaysia in Kuala Lumpur on Tuesday and Wednesday, July 25–26, 2017.
The Great Recession delivered the first large setback to globalization in decades. After the Great Trade Collapse, international trade flows did not return to trend, and global trade is undergoing a slowdown. Globalization appears under threat from both economic and political forces. On the market side, the persistently weak global demand may have had a role in the current slowdown in global trade. Financial market volatility may also have had an impact on international goods trade by affecting export entry decisions. On the policy side, resistance to globalization is increasing: the use of antidumping duties and other ad hoc forms of protectionism, opposition to trade agreements across the political spectrum, and anti-immigration sentiment are on the rise.
The conference will seek research on: (i) the recent past and medium-term future of international trade; (ii) the impact of protectionism and financial market turbulence on trade; and (iii) the labor market impact of both international trade and migration. We are particularly interested in papers that address the following topics and questions:
- The global slowdown in trade and finance. What are the causes of the current trade slowdown? Is there a capital flow slowdown? Are there large secular changes in the composition of capital flows? Has the relationship between real synchronization and financial integration changed?
- Trade consequences of “Secular Stagnation” and protractedly low external demand. Is there a missing generation of exporters? What are the implications for selection into exporting and medium-run trade dynamics?
- Protectionism, income inequality, and globalization. Does higher inequality lead to more demand for protectionism? How does higher inequality affect international asset markets? What is the effect of protectionism on global supply chains? What policies can ensure that the gains from globalization are spread more evenly?
- Trade implications of asset market dynamics. What are the implications for domestic and export market entry of financial frictions and shocks? How does international market liquidity affect goods trade? How do multinational and trade links affect stock market comovements across countries?
- Migration, remittances and welfare. What is the impact of immigration on labor markets in recipient countries? How does emigration affect remittances and inequality in origin countries?
We welcome submissions that focus on advanced economies, emerging economies, and Asia-Pacific economies.
The organising committee comprising Fabio Ghironi (University of Washington and guest editor, IMF Economic Review), Andrei Levchenko (University of Michigan and guest editor, IMF Economic Review), Cheng Hoon Lim (IMF), Hasni Mohamad Sha'ari (Bank Negara Malaysia), Pau Rabanal (IMF and IMF Economic Review), Linda Tesar (University of Michigan and IMF Economic Review) and Boon Hwa Tng (Bank Negara Malaysia), invite submissions in these and related areas.
Please send submissions in Adobe PDF format to: BNMIMFER2017@IMF.ORG. Selected papers will be considered for publication in a special issue of the IMF Economic Review. Along with your submission, please indicate whether you also want to contribute to this issue (also submissions that are not being submitted to the IMF Economic Review are welcome).
Deadline for paper submissions is March 15, 2017 (authors of accepted papers will be informed by April 15, 2017). Preference will be given to submissions of finished papers. The conference will fund travel and local accommodation for speakers and discussants.
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