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Lord Turner on finance and inclusive economic transformation

Date
Time (GMT +00) 12:30 14:00
Hero image description: Traders work on the floor of the Ghana Stock Exchange in Accra, Ghana, June 15, 2006. (Photo by Jonathan Ernst) Image credit:Traders work on the floor of the Ghana Stock Exchange in Accra, Ghana, June 15, 2006. (Photo by Jonathan Ernst) Image license:Creative Commons

Chair:

Dr Dirk Willem te Velde - Director, Supporting Economic Transformation (SET) and Research Lead, DFID-ESRC Growth Research Programme (DEGRP)

Speakers:

Lord Adair Turner - Former Chairman, Financial Services Authority

Stephany Griffith-Jones - Professor IPD, Columbia; Senior Research Associate, ODI and Lead Researcher, DFID-ESRC Growth Research Programme (DEGRP)

Description

​At the height of the global financial crisis in 2008/9, as the then chairman of the Financial Services Authority, Lord Turner argued that the City in London’s financial sector had become 'socially useless'. In the following years, he played a leading role in the redesign of global banking regulation as Chairman of the International Financial Stability Board’s major policy committee. In his latest book Between Debt and the Devil: Money, Credit and Fixing Global Finance (Princeton), he explains how our addiction to private debt has caused a global financial crisis. 

How can we fix finance so that it is socially useful and helps to transform developing economies? How did the financial crisis affect developing nations and how can they ensure economic growth without sanctioning debt?

At ODI, the Supporting Economic Transformation (SET) and the DFID-ESRC Growth Research Programme (DEGRP) programmes are working on issues such as how the financial sector can be managed so that it contributes to inclusive economic transformation. 

The book will be available for sale and Lord Turner will be signing copies after the event.