On November 20, the  seminar on “Reform of the International Economic Order: Uncertainty and Economic Policy Coordination”, co-sponsored by the Research Institute of Global Economic Cooperation of Shanghai University of Finance and Economics (SUFE) and the Journal of International Money and Finance, was held at the Scientific Park of SUFE to promote the construction of the world economy discipline and strengthen cooperation and exchanges with domestic and foreign scholars and high level academic journals. Experts and scholars from universities and research institutions in the Netherlands, the United States, the United Kingdom, Hong Kong SAR, and China mainland, as well as COB’s faculty and students, participated in the seminar both online and offline. A total of more than 60 people attended the seminar.

Professor Jin Yuying, Director of the Research Department of SUFE, Executive Director of the Institute for International Economic Cooperation and Editor-in-Chief of the JIMF, hosted the opening ceremony and delivered a speech. Professor Jin Yuying extended a warm welcome and heartfelt thanks to the participants on behalf of the Institute of International Economic Cooperation. The theme of this seminar was highlighted after reviewing the success of the 2019 International Seminar on Financial and Capital Liberalization in Emerging Markets. She pointed out that uncertainty is the feature of the establishment and realization of global economic order, and it also influenced the development of new order deeply. After that, Professor Jin Yuying gave a brief overview of the contribution and paper selection of the seminar, and introduced the keynote speaker.

Professor Wei Hang, Associate Executive Dean of COB, SUFE, gave a speech in which he discussed the history and achievements of the College of Business since its relocation to Shanghai in the past 100 years, thecurrent development and the development strategy in the future, and expressed the expectation for this seminar

Professor Kees Koedijk from the Utrecht University in the Netherlands, co-editor of JIMF, praised the seminar in his opening speech and commended the organizers and the participants for their efforts.

The one-day seminar was divided into two parts: a morning session and an afternoon session, each featuring two keynote speeches and presentations of 12 papers. Professor Shangjin Wei from Columbia University in the United States and Professor Franklin Allen from Imperial College London in the United Kingdom gave keynote speeches respectively, and twenty-four scholars from Hong Kong University of Science and Technology, Fudan University, Renmin University of China, Tsinghua University, East China University of Science and Technology, Southwestern University of Finance and Economics, Shanghai University of Finance and Economics, East China Normal University, Shanghai University of International Business and Economics, The Chinese University of Hong Kong in Shenzhen, Central University of Finance and Economics, Nankai University, Shanghai International Studies University, etc. presented and discussed their papers. These articles are placed in the context of global economic uncertainty, and they cover the topics such as global supply chain, epidemic prevention and control policies, exchange rate fluctuation, monetary policy, financial integration, global capital flow, foreign direct investment, employment, bank liquidity, financial technology, virtual currency, etc. It reflected the most recent scientific trend on the global stage.

Keynote Speech Ⅰ

Professor Shangjin Wei from Columbia University gave a keynote speech on the theme “Cross Border Supply Chains and Transmission of Macroeconomic Shocks”. 

Haoyuan Ding, associate dean of the Research Institute of International Economic Cooperation of SUFE, professor at COB, SUFE and the associate editor of the JIMF, served as the seminar's chair afterwards.

Presentation and Discussion of Academic Papers

Associate Professor Xu Junyi from the Hong Kong University of Science and technology spoke on thetopic of “Pandemic and Containment Policies in Open Economy”.

 Professor He Qing from Renmin University of China gave a speech titled “Exchange Rate Co-movements and Corporate Foreign Exchange Exposures: A Study on RMB”.

Yao Wen from Tsinghua University gave a speech focused on the effects of financial integration during crisis situations.

The topic of Dr Yan Yuanyun’s speech from Southwestern University of Finance and Economics was “Monetary Policy, Economic Uncertainty and Bank Risk: Cross-country Evidence”.

Professor Wang from East China Normal University gave a speech titled “Brexit and Global Fund Capital Reallocation”.

Professor Wang Jian from the Chinese University of Hong Kong, Shenzhen gave a presentation on  “FDI and Firm Productivity in Host Countries: The Role of Financial Constraints”.

Associate professor Deng Jianpeng from Shanghai University of Finance and Economics gave a speech titled “Trade Policy Uncertainty and Foreign Direct Investment: Evidence from China’s WTO access”.

Associate professor Liu Yalin from the Central University of Finance and Economics gave a speech titled “The China Trade Shock and The European Union’s Employment: The Role of Third-Market Competition”.

Professor Zhou Shen from Nankai University gave a speech titled “Trade Liberalization and Regional Labor Market Dynamics: Evidence from China’s WTO access”.

Associate professor Zhang Xiaoyu from Shanghai International Studies University gave a speech titled “Cryptocurrency Price defects under Uncertainty: Evidence from Covid-19 Pandemic”.

Professor Huang Yi from Fudan University gave a speech titled “Bond Financing Channel of Monetary Policy: Evidence from Chinese Bank Lending”.

Associate Professor Liu Zehao from Renmin University of China gave a speech titled “Bank Concentration, Payment System, and Liquidity”.

Keynote Speech Ⅱ

Professor Franklin Allen from  Imperial College London, UK, gave the keynote speech titled “Fintech, Cryptocurrencies, and Financial Structural Transformation”.

Professor Kees Koedijk presented a concluding statement. He described the follow up contributions to the seminar, noting that next year marks the 40th anniversary of JIMF’s publication and that JIMF will continue to collaborate with the Shanghai University of Finance and Economics to host the third seminar, which welcomes contribute excellent papers from both home and abroad.