Globalization and the art of designing policy

16  November 2015    4:00 pm CET

Kaushik Basu, Chief Economist and Senior Vice President World Bank


Oesterreichische Nationalbank, Otto-Wagner-Platz 3, 1090 Vienna, 'OeNB auditorium' (ground floor)
R.S.V.P. by Wednesday, November 2, 2015, by fax (+43-1-404 20-04-6697) or by e-mail to


Professor Basu will address international spillovers of national economic policies in
an economically strongly integrated world. Globalization has thrown a spanner in the  way national policies are crafted. Whether it be a decision concerning quantitative easing in an EU economy, the hiking of rates by the U.S. Fed, fiscal policy design by India, or an exchange rate intervention by the People’s Bank of China – in today’s world, a critical element is the awareness that what you do will impact other countries and that in turn may cause a backlash which will come to have an impact on growth, employment and inflation in your own economy. This lecture will take examples from contemporary policy challenges in rich industrialized countries and also emerging economies to illustrate how we can design effective policy in this changed scenario. It  will highlight some of the open challenges that we will no doubt have to confront in the coming years.
Kaushik Basu is heading the World Bank’s Development Economics Vice  Presidency,  the premier research and data arm of the World Bank. He is a Fellow of the Econometric Society and currently on leave from Cornell University, where he is  Professor of Economics and C. Marks Professor of International Studies. Prior to his joining the World Bank, he served as Chief Economic Adviser to the Government of India. He received India’s Padma Bhushan award as well as the National Mahalanobis Memorial award.


Ewald Nowotny
Oesterreichische Nationalbank

Kaushik Basu

Michael Landesmann
Scientific Director
The Vienna Institute for International Economic Studies (wiiw)

The Global Economy Lecture is jointly organized by the Oesterreichische Nationalbank (OeNB) and The Vienna Institute for International Economic Studies (wiiw).