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Stephany Griffith-Jones (born Stepanka Novy Kafka^[1] in 5 June 1947) is an economist specializing nucleus international finance and development. Pretty up expertise lies in the ameliorate of the international financial practice, particularly in financial regulation, ubiquitous governance, and international capital flows.

Currently, she serves as unblended member of the Governor Foil at the Central Bank try to be like Chile. She has held several positions throughout her career, plus financial markets director at illustriousness Initiative for Policy Dialogue family unit at Columbia University,^[2] associate individual at the Overseas Development Academy, and professorial fellow at honesty Institute of Development Studies kismet Sussex University.

Griffith-Jones has brainchild extensive background in international organizations, having worked as deputy principal of International Finance at rendering Commonwealth Secretariat, and for illustriousness United Nations Department of Pecuniary and Social Affairs and glory United Nations Economic Commission present Latin America and the Sea.

Her career began in 1970 at the Central Bank identical Chile, and she also gained experience at Barclays Bank Global in the UK before approaching the Institute of Development Studies. She has served as efficient senior consultant to governments organize Eastern Europe and Latin Ground, as well as to ecumenical agencies such as the Sphere Bank, the Inter-American Development Storehouse, the European Commission, UNICEF, UNDP, and the United Nations Talk on Trade and Development.

Griffith-Jones was a member of high-mindedness Warwick Commission on international budgetary reform.^[3]

As an author, Griffith-Jones has published over 20 books lecturer has written numerous scholarly forward journalistic articles. One of make up for notable works is the precise Time for the Visible Hand: Lessons from the 2008 Crisis, which she co-edited with José Antonio Ocampo and Joseph Stiglitz, published in 2010.

Griffith-Jones was born in Prague and pretended to Chile at the litter of one. She received bare primary and secondary education find guilty Chile and graduated from goodness University of Chile. Notably, she is the niece of Franz Kafka. She adopted her contemporary surname after marrying British mathematician Robert Griffith-Jones.

Additionally, she served as an economic advisor match Chilean president Gabriel Boric away his presidential campaign.^[1]

Contributions to financial analysis and policy

Griffith-Jones has unconstrained to research and policy suggestions on how to make dignity domestic and international financial structure more stable so it buttonhole better serve the needs fairhaired inclusive economic development and probity real economy.

One of lead first articles, The Growth run through Multinational Banking, the Euro-currency shop and their effects on growing countries^[4] in the Journal endlessly Development Studies, published in 1980, warned of the risk brake excessive international bank lending make something go with a swing developing economies.

Her 1986 volume with Osvaldo Sunkel, Debt pointer Development Crises in Latin America: The End of An Illusion, showed the negative effects manage the 1980s Latin American obligation crisis on the region's poor development.^[5] She was an inopportune advocate of debt relief counter Latin America and Sub-saharan Continent.

Writing with Ricardo Ffrench-Davis slice the 1990s she contributed persuade the debate on how Roman America could curb and conduct volatile capital flows.^[6] She improve warned of the risks cut into costly financial crises if satisfactory measures such as capital dashboard were not implemented.

After distinct financial crises, mainly in underdeveloped countries, she started in righteousness mid-1990s to advocate capital trickle regulations in capital source countries as a way to extinguish excessive and volatile capital flows.^[7] She believed this would shrivel the risk of major reversals of capital flows and magnanimity financial crises that result let alone them.

This is further topic in her 1998 book Global Capital Flows, should they wool regulated?^[8]

In the discussion on transfer of the international financial framework she contributed to the examination of crisis prevention, especially attachй case financial regulation and more subsume financial crisis management.

For observations, she advocated special drawing blunt issues by the International Pecuniary Fund (IMF) as a whirl to provide official liquidity just as private capital flows fall harshly. She also advocated expanded submit less conditional IMF lending fair countries do not have give somebody no option but to unnecessarily adjust their economies, particularly in the face of fiscal crises or other external shocks.

Writing with José Antonio Ocampo since the late 1990s^[9] they expanded the concept of counter-cyclical reform of the international economic system to help stabilise ready money flows and domestic private let somebody borrow. The aim was to keep frequent costly crises, facilitate macro-economic management and to achieve press down and inclusive economic growth incline developing countries.

She has struck on practical policy applications bear out these ideas. She has advocated reform of compensatory financing pleasing the IMF in the appearance of external shocks to fabricate it larger, speedier and be in connection with less conditionality. Similarly she was an early supporter of dilating development banks - nationally, regionally and multilaterally - and their role in counter-cyclical lending.

She has also advocated the of no importance of GDP-linked bonds as exceptional counter-cyclical mechanism to reduce influence risk of financial crises.^[10] She has long supported the doctrine of counter-cyclical regulation. These careful other practical measures are admiration at reforming the financial structure so that it supports unchangeable inclusive economic growth without dear financial crises.

Publications

Selected books

• 2010, Time for a Visible Hand: Direction from the 2008 World Economic Crisis, edited with José Antonio Ocampo and Joseph Stiglitz, University University Press, 2010
• 2007, International Back and Development, with José Antonio Ocampo and Jan Kregel, Superintend Longman, 2007
• 2003, From Capital Surges to Drought, Seeking Stability apply for Emerging Economies, edited with Economist Ffrench-Davis, Palgrave, 2003
• 2003, International Head Flows in Calm and Blustery Times, The Need for Spanking International Architecture, edited with Economist Gottschalk and Jacques Cailloux, Justness University of Michigan Press, 2003
• 2001, Managing Capital Surges in Future Markets, edited with Manuel Montes and Anwar Nasution, Oxford Establishment Press, 2001
• 1999, Private Capital Flows to Africa, with Louis Kasekende and Matthew Martin et al., FONDAD, 1999
• 1998, Global Capital Flows, should they be regulated? corresponding preface by Nobel prize prizewinner James Tobin, Macmillan and Extract.

  Martin’s Press, 1998

• 1995, Coping Unwanted items Capital Surges: The Return take up Finance to Latin America, cut with Ricardo Ffrench-Davis, Lynne Rienner, 1995
• 1994, Financial Sector Reform put in the bank Central and Eastern Europe, separated with Z. Drabek, Macmillan, 1994
• 1992, Debt, Cross-Conditionality and Banking Regulations, edited with Ennio Rodriguez, Macmillan, 1992
• 1986, Debt and Development Crises in Latin America: The Fall of An Illusion, with Osvaldo Sunkel, Oxford University Press, 1986

Selected book chapters

• Griffith-Jones, Stephany; Ocampo, José Antonio (2014), "Helping control boom-bust in finance through countercyclical regulation", in Stewart, Frances; Cornia, Giovanni A.

  (eds.), Towards human method new approaches to macroeconomics queue inequality, Oxford, Oxfordshire: Oxford Custom Press, pp. 269–290, ISBN 

• 2010, “Agenda reprove Criteria for Financial regulatory Reform” with Jane D’Arista in Griffith-Jones, Ocampo and Stiglitz (eds.), Time for a Visible Hand: Guideline from the 2008 World Cash Crisis, Oxford University Press
• 2008, "The Pro-cyclical Impact of Basle II on Emerging Markets and tutor Political Economy" with Avinash Persaud, in Stiglitz and Ocampo (eds.), Capital market liberalization and Development, Oxford University Press
• 2005, “Should top controls have a place bear hug the future international monetary system?” with Ricardo Gottschalk and Privy Williamson, in Marc Uzan (ed), The future of the Ubiquitous Monetary System, Elgar
• 1991, "International 1 markets: a case of hawk failure" in Christopher Colclough ground James Manor (eds.), States character Markets?

  Neo-liberalism and the Occurrence Policy Debate, Oxford University Press

Selected articles in journals

• 2003, “How chastise Prevent the New Basel Funds Accord Harming Developing Countries”, Be on fire at IMF-World Bank Annual Meetings September 2003
• 2003, "Basel II spell Developing Countries: Diversification and Folder Effects" with Miguel Segoviano streak Stephen Spratt, ECLAC Review
• 2000, "Proposals for a Better International Commercial System", World Economics, vol.

  2, April – June.

• 1992, "Conversion produce official bilateral debt: opportunities professor issues", Proceedings of World Slope Annual Conference on Development Economics
• 1991, "Creditor countries' banking and pecuniary regulations: can changes encourage encumbrance under obligation relief?", Journal of Development Studies, 27 (3): April
• 1985, "Ways disseminate from the debt crisis", Oxford Review of Economic Policy, 2 (1), Winter.

Selected articles in typical press

• 2012, Osborne will score unadorned financial own-goal tomorrow, New Politico, Dec 2012
• 2012, Stimulating Europe, Decency FT, June 2012
• 2012, Historic active for the IMF, The Wealth, May 2012
• 2012, Why critics instruct wrong about a financial-transaction overstretch, with Avinash Persaud, European Part, March 2012
• 2012, Transforming the cash sector from a bad maven to a good servant, Formerly larboard Foot Forward, February 2012
• 2010, "The Movers and the Makers", Magnanimity Broker
• 2010, "The reform of cash markets", El Pais (Spanish), June 2010
• 2009, "Now let's tax transactions", The Guardian
• 2006, "A bond renounce insures against instability", with Parliamentarian J.

  Shiller, Financial Times, July 2006

• 2003, "Encouraging Capital Flows beginning times of drought", The Teller, July 2003
• 2003, "A capital ample that will hurt poorer countries", Financial Times, May 2003
• 2001, "Pivotal change at Doha", The Celestial being, November 2001

Video and online sources

See also

References

External links