MASIC ANNUAL INVESTMENT FORUM 2015

Developed vs. Emerging Economies: Is the tide shifting?

Not long ago there was a broad consensus that this was to be the emerging economies’ century with increasing share of global GDP. More recently and due to the risk aversion shocks, contraction in global liquidity, a reflow of capital out of emerging economies and back to the developed markets (DM), as well as structural economic concerns, emerging economies have been less favored. Global investors appear to be rethinking their allocation to Emerging Markets (EM), and capital outflows can be dangerous for EM economies and assets.
Are long-term reasons that attracted foreign investors to EM remain valid secular themes? Do demographics and wealth thresholds effects suggest EM consumers will be a driving force of growth in the future? Where does the DM sphere fall into all of this? Is manufacturing and technology an important component that makes DM look more attractive today and for years to come? Is there growing interconnectivity among EM countries that makes these nations less dependent on DM flows?

Speakers


Don Hanna

Managing Director, Roubini Global Economics

Don Hanna is Managing Director of Roubini Global Economics' Asia Office. He previously served as Managing Director of Fortress Investment Group, where he advised on global macro trends, with a particular focus on Asia. Before joining Fortress, Don worked for Citigroup Global Markets for nearly 10 years, ending his tenure there as Acting Chief Economist.


Deborah Lucas

Professor of Finance, MIT’s Sloan School of Management, and Director, new MIT Center for Finance and Policy

Deborah J. Lucas is the Sloan Distinguished Professor of Finance at MIT's Sloan School of Management, and the Director of the new MIT Center for Finance and Policy. Her recent research has focused on the problem of measuring and accounting for the costs and risks of government financial obligations. Her published papers cover a wide range of topics including the effect of idiosyncratic risk on asset prices and portfolio choice, dynamic models of corporate finance, financial institutions, and monetary economics.


Arjun Divecha

Chairman of the GMO Board of Directors and Head of GMO’s Emerging Markets Equity team

Mr. Divecha is the head of GMO’s Emerging Markets Equity team and Chairman of the GMO Board of Directors. Prior to joining GMO in 1993, he spent 12 years at BARRA directing software development, marketing, client service and emerging markets research and development.


Adam Shaw

Moderator, BBC Presenter

He is one of the best known financial faces on television and radio. He currently presents the BBC World News series, Horizons. Now in its fifth series, the show looks at how new technologies will change the way we live in future decades. It’s one of the most watched shows on BBC World and is seen by millions across the globe each week.
Adam has been the recipient of the Financial Broadcaster of the Year award, presented by the ABI, which represents major investors and insurers.
Adam regularly speaks at, chairs and facilitates corporate events and receives consistently high praise for his work.