Study Group on the Americanization of Finance

Study Group

Study Group on the Americanization of Finance

Staff:
Roger M. Kubarych, Henry Kaufman Adjunct Senior Fellow for International Economics and Finance

May 9, 2001 - Present

Tremendous controversy swirls around the issue of whether emerging economies would be better off or worse off by embracing the kind of financial market structures that have been developed in the U.S. and other advanced industrial countries during the past two decades or so. This evolution, which we call the “Americanization of Finance” essentially involves the transformation of a financial system centered around traditional commercial banks to a more free-wheeling system organized around open capital markets.

Meetings

Five Financial Challenges Facing the Next U.S. President
Roundtable Meeting

June 8, 2004

Related Project: Study Group on the Americanization of Finance

Panelist: Roger M. Kubarych

Reducing Financial Vulnerabilities in Japan: A Progress Report
Roundtable Meeting

July 1, 2003

Related Project: Study Group on the Americanization of Finance

Discussant: Roger M. Kubarych, Council on Foreign Relations
Panelist: Henry Kaufman, Henry Kaufman & Company, Inc.

This meeting took place on July 1 and featured Shin Nakahara, member

of the Policy Board of the Bank of Japan, as the primary speaker with Roger

Kubarych as Discussant. The meeting was chaired by Henry Kaufman who distributed his June 19 speech to the Global Borrowers and Investors Forum in London.

Mr. Nakahara presented his paper, Quantitative Easing Policy and

Further Steps, which discusses quantitative easing policy and its effects, why deflation phenomena in Japan is persistent, and what steps can be taken to combat deflation. The presentation was followed by a lively question and answer session that focused on Japanese monetary policy, Japan's experience with deflation and the lessons for American policy makers, and how Japanese industrial restructuring may lead to greater competitiveness.

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David Rockefeller Studies Program Contacts

For more information on the David Rockefeller Studies Program, contact:

Gary Samore
Vice President, Director of Studies, and Maurice R. Greenberg Chair
+1-212-434-9627
gsamore@cfr.org

Sebastian Mallaby
Director of the Maurice R. Greenberg Center for Geoeconomic Studies, Deputy Director of Studies, and Paul A. Volcker Senior Fellow for International Economics
smallaby@cfr.org

Janine Hill
Deputy Director of Studies Administration
+1-212-434-9753
jhill@cfr.org
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Discussant:	Roger M. Kubarych, Council on Foreign Relations
Panelist:	Henry Kaufman, Henry Kaufman & Company, Inc.

Study Group

New CFR Books

New Council Special Reports

Global FDI Policy

Dealing with Damascus

David Rockefeller Studies Program Contacts

The Think Tank

The David Rockefeller Studies Program