“It seems we’re confronted with a deepening paradox. While stock markets hit records, the economy is lagging. Is it not the appropriate moment to turn stock markets into engines for growth? But how to achieve this?“
“While trade tensions grow, WTO predicts a sharp fall in world trade for 2020 and 2021, with strong impacts on developing countries. For decades there used to be an intellectual and political consensus that free-trade contributes to growth and development of all involved. This consensus seems to belong to the past. What kind of international trade, and trade governance, does the world need?”
“Staggering amounts of money start pouring on Western economies in order to keep the economic machine working and to avoid massive social shocks and unrests. How will this effort be financed? First step is clear: public bodies will issue debt and borrow on the markets, while central banks will pump liquidity to make the deals easier. The second step is less clear: what should the governments do to allocate these massive amounts: give away by distributing to the affected households or enterprises (helicopter money); lend them and ultimately either enforce the service and reimbursement conditions or cancel the debt; or should they provide equity to enterprises as would do an equity (sovereign?) fund, and expect future dividends – and for the big enterprises the stock price hikes – to cover, in due time, the incurred expenses?”
In response to the crisis, the resilience of the “domestic/household economy” proved essential for many despite the fact that this activity is not monetized and remains “invisible” for official statistics. What economic policy recommendations should be drawn from this experience ?
The 8th edition of the global Prize Ethics & Trust in Finance for a Sustainable Future is officially launched online on 2 June 2020 at 2 pm (CET). For this occasion, two Round Tables will explore the role of ethics and trust in shaping a more sustainable and resilient financial system for the post-pandemic world.
In pandemic times the world operates thanks to GAFAs and telecoms. These giant enterprises are becoming every day more clearly the backbone of our economic, social, and political lives, which makes them players of systemic and global importance. How will/should evolve their future regulation at national and global levels? What are the rationales behind?
“What would you suggest as priority actions to reach out to the most exposed to the economic aftermath of the pandemic crisis in developing countries?”
“What principles should guide us in striking the balance between « lives and livelihoods » ? Or put differently, between health and GDP?”
“How has the virus crisis affected your basic convictions about economy and society?”
Ethics & Trust in Finance – Global Prize
7th Edition 2018 / 2019
Getting out of our silos / Sortir de nos silos
Josina Kamerling, Paul H. Dembinski
Part I : Ethics in the Fintech Era
- Finance Needs ‘Bilinguals’ Too
Andrea Roncella & Luca Roncella
Part II : Beyond compliance
- The Moralization of Contracts : An Islamic Perspective
- Beyond the Code of Ethics – Measuring Corporate Culture
Part III : Can/should ethics be monitored ?
- Conduct Capital Buffer
- Central Ratings Index for Ethics and Trust in Finance
Part IV : Ethical dilemmas
- Ethical Aspects of Bank Resolution
- Voting With Your Wallet
- Is Offshoring Ethical?