Macro Economy

Transformation of the Balance of Payments and Capital Flows

Program Overview

Macro Economy Research Conference
31 October 2024
The Okura Prestige Tower, Tokyo

Program

Opening Remarks
Koji Nagai, President, Nomura Foundation
Morning Session
Moderator: Tetsuya Kamiyama, Managing Director, Nomura Institute of Capital Markets Research

Issues surrounding Japan’s balance of payments and the impact on the yen foreign exchange rate
Takashi Miwa, Executive Economist, Nomura Securities

Current account surpluses, capital flows, and the challenge of raising investment in the European Union
Zsolt Darvas, Senior Fellow, Bruegel

Afternoon Session
Moderator: Chi-Hung Kwan, Senior Fellow, Nomura Institute of Capital Markets Research

How Mechanisms of Quantitative Easing Impact Capital Flow, Inflation, and Perception of The Economy
Aaron Klein, Miriam K. Carliner Chair and Senior Fellow, Economic Studies, The Brookings Institution

Capital Flow Volatility and the Future of International Policy Coordination
Creon Butler, Director, Global Economy and Finance Programme, Chatham House

China's Balance of Payments: Recent Shifts, Driving Factors, and Outlook
Fei SUN, Director and Research Fellow, International Finance Research Office, Research Institute of Finance, Development Research Center of the State Council