The National University of Singapore (NUS) and the Monetary Authority of Singapore (MAS) have jointly appointed Professor Ross Levine as the MAS Term Professor in Economics and Finance from 6 to 17 November 2017. Prof Levine will be hosted by the NUS Faculty of Arts and Social Sciences’ Department of Economics and the Economic Policy Group at the MAS during the term of the Professorship.
Prof Ross Levine is the Willis H. Booth Chair in Banking and Finance at the Haas School of Business, University of California, Berkeley. He is also Senior Fellow at the Milken Institute, Research Associate at the National Bureau of Economic Research, a member of the Council on Foreign Relations, and a member of the Advisory Scientific Committee of the European Systemic Risk Board. He worked at the Board of Governors of the Federal Reserve System and subsequently at the World Bank. Prof Levine has advised governments, central banks, regulatory agencies, and multilateral organisations.
A prolific researcher with publications in top economics and finance journals, Prof Levine’s work focuses on how financial sector policies and the operation of financial systems shape economic growth, entrepreneurship, and economic prosperity. Two of his books, Rethinking Bank Regulation: Till Angels Govern and Guardians of Finance: Making Regulators Work for Us, stress that regulatory policies often encourage excessive risk-taking and destabilise the global financial system, with deleterious effects on living standards.
Prof Robbie Goh, Dean, NUS Faculty of Arts and Social Sciences, said, “We are very pleased to welcome Prof Ross Levine to NUS and the Faculty of Arts and Social Sciences. Prof Levine is one of the most highly cited economists in the world, with extensive scholarship in international finance, banking regulation and economic development. His appointment will contribute towards building up research capabilities and intellectual capacity in international finance, banking and related issues at the University. We look forward to the exchange of ideas and sharing of knowledge with Prof Levine in the coming weeks.”
Mr Edward Robinson, Assistant Managing Director (Economic Policy) and Chief Economist at MAS, said, “Prof Ross Levine’s extensive and highly regarded research on financial regulation, economic development and entrepreneurship is most relevant to economic and financial policy work in Singapore. His seminal work on the causal nexus between financial development and economic growth has strongly influenced the profession’s views on the issue. Policymakers and empirical researchers have most certainly benefitted from his important work on measuring the evolution of financial systems. His latest book on Guardians of Finance provides an incisive analysis of the shortcomings in the institutional structure of financial regulation that led to the Global Financial Crisis, including the behavioural incentives that affect the decisions of regulators. It is a great privilege to welcome him as the MAS Term Professor and we look forward to a productive exchange of ideas with, and learning from, such a distinguished scholar.”
Prof Levine will deliver a public lecture at NUS on ‘How U.S. Financial Regulatory Reform Threatens Global Prosperity’ on 10 November 2017. He will also conduct a research seminar on campus titled ‘Entrepreneurship, Human Capital, and Liquidity Constraints’ on 13 November 2017. In addition, Prof Levine will hold dialogue sessions with NUS faculty members to discuss his latest research findings and advise PhD students on their research. At MAS, Prof Levine will engage senior policymakers, economists, and bank regulators on macroeconomic and financial regulation issues.
About the MAS Term Professorship in Economics and Finance
First established in 2009, the MAS Term Professorship in Economics and Finance is awarded to distinguished scholars, who are appointed as Visiting Professors at either the NUS Business School or the Department of Economics at the NUS Faculty of Arts and Social Sciences. It aims to strengthen Singapore’s economics and financial research infrastructure and contribute to a vibrant research community and culture at local universities.
The MAS Term Professorship in Economics and Finance has been awarded to 17 distinguished scholars over the last eight years.