The Bank of International Settlements building in Basel, Switzerland, is home to the Financial Stability Board (Wladyslaw Disk/Wikimedia Commons).
The Bank of International Settlements building in Basel, Switzerland, is home to the Financial Stability Board (Wladyslaw Disk/Wikimedia Commons).

The Central Banking and International Finance theme is part of CIGI’s Global Economy Program. It analyzes the implications of domestic policies on global monetary and financial stability and the prospects for coordination and cooperation in the international regime.

The 2008 financial crisis produced major changes in monetary and financial regulatory practice. Unconventional monetary policy and macroprudential policy are two important developments in central banking that have significant impacts on the stability of the international system and the power, influence and authority of central banks. In international financial regulation, the strengthening of the Financial Stability Board after the financial crisis has important implications for the governance of global finance. CIGI’s research in this area aims to shed light on the policy goals and tools utilized by central banks and financial regulators after the crisis. Through this research stream, CIGI’s Global Economy Program intends to identify and research the key policy and governance issues facing central banks and financial regulators in the post-crisis world.

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Experts

Federico Arcelli

Angelo Federico Arcelli

Senior Fellow

Angelo Federico Arcelli is currently a senior fellow with CIGI’s Global Economy Program and a non-resident fellow at the Center for Transatlantic Relations at Johns Hopkins School of Advanced International Studies in Washington, DC (resident in 2012–2013).

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Thomas A. Bernes

CIGI Distinguished Fellow

Thomas A. Bernes is a CIGI Distinguished Fellow. After a distinguished career in the Canadian public service and at leading international economic institutions, Tom was CIGI’s executive director from 2009 to 2012. He has held high-level positions at the International Monetary Fund, the World Bank and the Government of Canada. He became a distinguished fellow in 2012.

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Paul Blustein

CIGI Senior Fellow

Paul Blustein is a CIGI senior fellow. An award-winning journalist and author, he has written extensively about international economics, trade and financial crises. Prior to joining CIGI in 2010, Paul was a journalist-in-residence at the Brookings Institution, a staff writer for The Washington Post and the chief economic correspondent for The Wall Street Journal. Paul recently released his fifth book, Laid Low: Inside the Crisis That Overwhelmed Europe and the IMF, and he is currently working on a book about China and the global trading system, which will be published by CIGI in early 2019.

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James M. Boughton

CIGI Senior Fellow

James M. Boughton is a CIGI Senior Fellow. He is a former historian of the International Monetary Fund (IMF), a role he held from 1992 to 2012. From 2001 to 2010, he also served as assistant director in the Strategy, Policy, and Review Department at the IMF. At CIGI, James’s research focuses on the evolution of Canada’s role in international governance since the 1940s and the potential for further evolution in the near future.

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Jorge Braga de Macedo

CIGI Distinguished Fellow

CIGI Distinguished Fellow Jorge Braga de Macedo is a former minister of finance in Portugal and president of the OECD Development Centre. Having served on CIGI’s International Board of Governors, he is currently president of the Tropical Research Institute and professor and director of the Centre for Globalization and Governance at the Nova School of Business and Economics.

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Barry Eichengreen

CIGI Senior Fellow

Barry Eichengreen is a non-resident CIGI Senior Fellow. He is the George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley, where he has taught since 1987. He is also a research associate of the National Bureau of Economic Research (Cambridge, Massachusetts). At CIGI, his research will focus on the internationalization of the renminbi.

Robert (Bob) Faye, director of the Global Economy Program

Robert Fay

Director of the Global Economy Program

Robert (Bob) Fay is director of CIGI’s Global Economy Program and is responsible for the research direction of the program and its related activities. He has extensive experience in macro- and micro-economic research and policy analysis. 

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James A. Haley

CIGI Senior Fellow

James A. Haley is a senior fellow at the Centre for International Governance Innovation and a Canada Institute global fellow at the Woodrow Wilson Center for International Scholars in Washington, DC.

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Harold James

CIGI Senior Fellow

Harold James is a CIGI Senior Fellow. He is Professor of History and International Affairs and the Claude and Lore Kelly Professor of European Studies at Princeton University.

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Paul Jenkins

Distinguished Fellow

Paul Jenkins is a CIGI Distinguished Fellow in the Global Economy program. He provides strategic advice to the Global Economy program, including activities related to CIGI’s partnership with the Institute for New Economic Thinking (INET) and broader macroeconomic issues. His own research focuses on international policy coordination and financial stability, with a particular interest in the G20. From 2003 to 2010, he served as senior deputy governor of the Bank of Canada.

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