Topic: Assessing China’s Debt Overhang: Risks and Policy Responses
Speaker: Ronald W. Anderson, Professor of Finance, London School of Economics and Political Science
Date: April 4 (Wednesday)
Location: Building 4, Room 101
China has taken significant steps in opening its domestic debt markets to foreign investors in recent years and given the size and importance of the Chinese economy, there is a natural interest in understanding the opportunities that these changes bring. However, international observers of Chinese markets are quick to identify a number of worrying signs that mean that foreign inflows into these markets will likely be slow to take off. In this work, we assess the economic and institutional factors that have driven the growth of debt in China. We ask whether there is a clear strategy for managing the risk that such debt levels pose and assess the likelihood that policy actions will prove successful.
About the speaker:
Ron Anderson is a Professor of Finance at the London School of Economics and a member of the Financial Markets Group at LSE. He is a fellow at the CEPR in the financial economics program and a principal investigator in the Systemic Risk Centre an ESRC research Centre. He has broad interests in the field of financial economics. In recent years, much of his theoretical work has centered upon dynamic corporate finance. Ron also has an active interest in financial institutions. In this field, he carried out a study of finance in ex-communist countries. More recently, he has a project underway on Chinese debt capital market with a particular focus on the relation of credit risk to enterprise reform and local public finance.
Ron has undertaken consultancy and research projects in Corporate Finance; Corporate Governance; Credit Risk; Risk Management. His recent executive teaching has been in the areas of risk management and corporate governance. He has been involved in expert testimony on a variety of capital markets cases. He is fluent in French.