Global Economic Symposium

Finding Solutions. Together.

About the GES

The Global Economic Symposium (GES) is a high-level solution forum organized annually by
the Kiel Institute for the World Economy, a renowned Think Tank in the field of global economic
affairs, in cooperation with well-known international partner institutions. Established in 2008,
the GES challenges leading international decision-makers from academia, business, politics,
international organizations and civil society to develop new solutions to major global problems.
Due to their global dimension, the challenges addressed at the GES cannot be solved by
national policy instruments alone, but require global cooperation and dialogue. Examples of
these challenges are financial crises, climate change, energy security, poverty and inequality,
unemployment, migration, education deficits, or deficient global governance.
The GES seeks to initiate such cooperation and dialogue by providing an ongoing strategic
process, in which the global community generates ideas, develops visions and pursues concrete projects. The process is supported by a research base provided by researchers from the
Kiel Institute for the World Economy. The outcomes of each GES are summarized in various
publications. The most promising solutions proposed at the GES 2014 are presented in the
GES Selected Solutions 2014/15, which is available for download.
What makes the GES special?
It is solution-oriented, distinguishing itself from mere discussion fora. Formulating concrete policies and business strategies to tackle global problems is the major goal.
It is research-based, making facts and knowledge a top priority. State-of-the-art research
is underlying all the sessions and is published in the GES Knowledge Base.

The GES Process

In order to implement these distinctive features and to initiate a fruitful interaction among
its participants, each Symposium is embedded in the following process:
First, the main themes and topics are communicated in advance to stakeholders of the
Symposium and the GES Community, in order to elicit diverse perspectives on the specified
global problems.
Second, in the GES Knowledge Base, the web-based information and discussion platform of
the GES, background information and proposals are presented. Panelists are expected to digest the information and initiate discussions with the involvement of the wider GES Community.
Third, the Symposium takes place. The GES panels debate the proposals described and discussed in the Knowledge Base of the Virtual GES.
Finally, the results and solutions of each Symposium are summarized and published online
and in print. In order to encourage implementation, they are communicated to international
communities of leading policy-makers and researchers. Thereby, the GES initiates an ongoing
dialogue on global problem-solving.

Identification
of Global
Problems

Analysis
in the
Virtual GES

Global
Economic
Symposium

Solution
Proposals
and Implementation

I am sure the
symposium will
go from strength
to strength and
make a valuable
contribution to
answering the
pressing questions facing our
global economy.
Joaqun Almunia
Former Vice-President and Commissioner for
Competition, European Commission

In these turbulent
times, the discussions during the
GES have provided lots of food
for thought. And
indeed, also provided interesting
and new solutions
for the many
challenges in the global economy.
Hans-Paul Brkner
Chairman, The Boston Consulting Group

The content and

format to focus on
policy implications
with the input of
most-important
experts and
stakeholders was
excellent. This is
one of the rare
occasions where
attendants and panelists really take home
new insights.
Aart De Geus
Chairman and CEO, Bertelsmann Stiftung

If you want brilliant economic

analysis combined with practical solutions to
the worlds challenges, then GES
is the right forum
for you. Just bring
an open mind!
Irene Natividad
President, Global Summit of Women

A great occasion
for an interesting exchange of
views efficiently
organized by the
GES. Congratulations to the Kiel
Institute for the
World Economy.
Yves Leterme
Secretary-General International IDEA

As advertised,
it offered some
interesting and
well-considered
proposals to
solve very thorny
global problems.

Eric Stark Maskin

Nobel Laureate; Professor of
Economics, Harvard University

GES is a unique
solution-oriented
platform which
enables academics, policy- and
decision-makers,
leaders of international organizations as well as
prominent business people to find solutions to fundamental global problems.
Minister Mehmet imek
Finance Minister of Turkey,
Member of the GES Advisory Board

One of the pleasures, and the

thrills of GES
have been to
see, how expert,
smart, engaged
and passionate
people mix and
match ideas, challenge orthodoxy
with fact and refashion the conversation
about the future of us.
Ted C. Fishman
Journalist

Selected Themes and Sessions 20082014

What is the GES about? It deals with problems of global relevance.
Here are some of the Symposiums main themes and topics in recent years.

Central Banking and Monetary

Policy
Reassessing Central Banking
The Future of Central Banking: Inflation
Targeting vs. Financial Stability
The Future of Central Banking and Financial
Market Reform
Monetary Policy and Income Inequality

How to Deal With Crises and Risk

The Psychology of Financial Crises
Fighting Sovereign Debt Crises Worldwide
Coping with Systemic Risk
Redesigning Fiscal Consolidation and Debt
Management
Fiscal Consolidation through Fiscal Rules?
Holistic Approaches to Solve the Euro Crisis
The New Global Financial Architecture

Migration
Designing Immigration Policy
Fighting Against Poverty in the Crisis Aftermath
Making Migration Work after the Crisis
Preparing for Environmental Migration
Migration, Integration and Identity
Designing Intelligent Labor Migration Policies
Fostering a Fair Deal on Talent
Creating Virtuous Talent Triangles for Labor
Migrants: An Asian Perspective

Supply Chains and Trade

Reconsidering the International Trading
System
Towards Global Trade under Global Rules
Reconciling Trade and Carbon Governance
Rebalancing Trade and Capital Flows
Global Supply Chains and Sustainability
Shaping a Free and Fair World Trade Order

Climate Change
Global Policy Responses to Climate Change
Establishing a Global Climate Regime
Climate Change and Economic Development
Managing Adaptation to Climate Change in
the Developing World
Climate and Competitiveness

Energy and Electricity

Energy versus Climate Change
The Energy Crisis and Climate Change
Bioenergy and Land Use in Developing
Countries
Towards a Global Electricity Market
Pioneering Smart Electricity Systems
Reassessing Renewable Energies
Exploring Energy Resources in the Arctic
Ocean
Towards a Sustainable Energy Mix
Decentralizing Energy Supply
Bringing Electricity to the Poor

Selected Solutions 20082014

The GES searches for solutions. Find here the abstracts of a selection of promising
solutions that have been developed in the GES process and are related to its main topics.

Central Banking and Monetary Policy

Session: The Future of Central Banking and Financial Market Reform (GES 2013)
Challenge
The traditional pre-crisis view was that monetary
policy and financial regulation were separate tasks
and should be conducted by separate institutions.
In the post-crisis period, there is disagreement over
whether central banks should be actively involved in
monitoring and regulating the banking system. What
is the scope of monetary policy?
What are the desirable objectives of central banks?
Should financial market supervision be a central bank
task? How should the central bank deal with potential conflicts of interest? Does the additional mandate
make central banks more prone to political influence?
Will the additional mandates endanger the credibility
of central banks in maintaining price stability?

Solution: Macroprudential regulation

should be located at central banks
Central banks have a significant advantage in gathering and processing the information necessary for
macroprudential policy. Moreover, recent research
suggests that capital ratios are higher and bank credit
booms are less prevalent where the central bank is
the lead supervisor. Major central banks such as the
Federal Reserve, the European Central Bank and
the Bank of England have already announced their
extended mandate for financial stability. Nonetheless,
it must be ensured that structures are in place that
deal with the conflicts of interest that arise due to this
extended mandate.

How to Deal With Crises and Risk

Session: Holistic Approaches to Solve the Euro Crisis (GES 2013)
Challenge
The European Monetary Union is facing the greatest challenge of its history thus far. High unemployment in a number of member countries, the need for
substantial consolidation of the budgets of numerous
governments and distressed banks are symptoms of
economic misalignments and economic policy failure
that threaten not only prosperity in Europe, but the
European project as a whole.
Is there a common view on the roots of the crisis?
What are the relevant alternatives in the current
situation? To what extent have anticrisis measures
and their consequences narrowed down the set of
future policy options? Does a monetary union necessarily imply fiscal union and common economic
governance?

Solution: Bank resolution in Europe should

involve systematic bail-ins via contingent
conversion of debt to equity
To prevent bank insolvencies from destabilizing
the financial system, a European Bank Resolution
Agency (EBRA) should be established. The EBRA
would resolve distressed banks in an orderly way
and recapitalize them if appropriate. Remaining ESM
funds should be exclusively used for this purpose
and lenders would participate in the losses incurred
by failing banks to the utmost extent. To strengthen
the future loss absorption capacity of banks, all new
debt-based financing of banks should be subject to
a conversion clause that stipulates that bank debt is
automatically converted into equity if the equity ratio
falls below a certain threshold.

Selected Solutions 20082014

Migration
Session: Fighting Against Poverty in the Crisis Aftermath (GES 2009)
Challenge
The policy agenda for achieving pro-poor growth includes a number of fairly uncontroversial measures,
such as universal primary education and the provision of social funds for the poor. There is much less
consensus about interventions to address inequality
within developing countries, even though they might
directly contribute to poverty reduction, especially in
very unequal societies. For example, should a poverty
strategy focus directly on growth or instead concentrate on empowering the poor to benefit from growth?
How can inequality be reduced in ways that stimulate
economic growth?

Solution: Promote circular migration,

increase number of professionals
Circular migration can be supported through re-entry
visas for migrants on renewable short-term contracts,
portable pensions, and other social benefits to avoid
the brain drain. Ethical recruitment practices and
measures to improve working conditions, infrastructure and career opportunities for high-skilled personnel in developing countries should accompany the
acquisition of professionals from sectors exposed to
the brain drain. Countries who take on skilled professionals from developing countries should pay for the
skills and the training that have been invested in them,
so the number of professionals could be increased.

Supply Chains and Trade

Session: Global Supply Chains and Sustainability (GES 2014)
Challenge
International production chains have become more
fragmented over recent decades. Participation allows countries to share in the gains of globalization
by performing only those tasks in which they have a
comparative advantage. This is generally believed to
stimulate economic development but comes, however, at a cost if global value chains are not sustainable.
This encompasses concerns related to labor, health
and safety standards for workers as well as environmental considerations. This is often, but not exclusively, a problem in transition and developing countries.
Is participation in global value chains a path towards
economic development?

Solution: Diversify the global supply chain

through involvement of women entrepreneurs worldwide
Given the fact that small business underpins every
economy of the world, the engagement of suppliers
with excluded groups, such as women, minorities and
migrants, expands an emerging cadre of SMEs, for
which inclusion in the global supply chain not only enables their own businesses to move up to the next
level, but also provides the base for sustainable local economies. There are already existing efforts by
corporations and governments. The challenge is to
scale up these efforts by engaging more companies
and countries in existing initiatives. The GES can create a forum to exchange these best practices from the
public and private sectors.

Climate Change
Session: Managing Adaptation to Climate Change in the Developing World
(GES 2011)
Challenge
In policy discussions of climate change, mitigation has
been the main focus to date but adaptation to climate
change is moving up the policy agenda. Simulation
models suggest that the negative effects of climate
change disproportionately fall on the developing
world. Some argue that such effects have already
started to become visible, e.g., in the form of agricultural damage. Moreover, the poor have very limited
capacities and resilience for coping with climate change.
Focusing on adaptation in low-income countries can
therefore yield a large benefit in terms of social welfare. Which combinations of adaptation strategies are
mutually reinforcing and which ones conflict with each
other?

Solution: Use index insurance and reinsure

national carriers
Greater climate volatility will lead to more frequent
losses from extreme weather events. When traditional insurance contracts are not feasible, possibly because of high administrative costs, innovative
approaches such as index insurance may be able to
reach the poor.
Damage from major natural disasters may be large:
therefore, national carriers need to be effectively
reinsured. Since high-income countries are responsible for most greenhouse gas emissions and hence
for most climate change, they should support insurance for climate risks in developing countries through
appropriate transfers.

Energy and Electricity

Session: Bringing Electricity to the Poor (GES 2014)
Challenge
In 2010, one fifth of the Worlds populationor 1.4 billion peopledid not have access to electricity (IEA,
2013), 10 to 14 percent of the population in India
and other Asian developing countries will still have
no access in 2030. This means no (easy) access to
hot water, water pumps, clean cooking and lighting
appliances, or telecommunications. Affordable and
easy access to electricity is a key factor not only for
economic, social and educational development but
also for improving the general health and well-being
of the poor.
Can governments, communities, and businesses
cooperate in financing, designing and operating the
necessary electricity infrastructure in the developing
world?

Solution: Train mature women from poor

communities as solar engineers
Barefoot College trains women from rural communities to be solar engineers thus providing access to
electricity for poor rural areas as well as developing
womens potential. Since 1989, Barefoot Colleges
flagship solar electrification program has trained
664 illiterate and semiliterate women. They have
electrified 40,000 rural households in 1,265 villages
in 64 countries to serve more than 500,000 people
directly. They install and maintain equipment and
receive a salary for their services. This guarantees
longevity of the installations and long-term selfsufficiency and creates upward mobility for an entire
community.

Contributing Institutions over the Years

Strategic Partners
Bertelsmann Stiftung
Fielmann
Veolia Umweltservice
Wintershall
ZBW German National Library of Economics
Leibniz Information Centre for Economics

Partners, Sponsors, Media and

Knowledge Partners
Alexander von Humboldt Gymnasium Neumnster
Alfried Krupp von Bohlen und Halbach-Stiftung
AmCham Germany
Anne-Frank-Schule Bargteheide
Art Grup
Artworks
Asian Institute of Management
Atlantic Hotel Kiel
Audi
Axel Springer
Bloomberg HAT
Booz&co.
Bundesverband Deutscher Unternehmensberater e.V.
Bureau of European Policy Advisers
Businessland Schleswig-Holstein
Central Bank of the Republic of Turkey
China Center for International Economic Exchanges
Citti
Club de Madrid
CNBC-e
DB Mobility Networks Logistics
DeAsia
Der Kieler Kaufmann e.V.
Deutsche Bank
Deutsche Gesellschaft fr Internationale Zusammenarbeit (GIZ) GmbH
Deutsche Telekom
Deutsche Welle
Deutsche Welle Media Forum
DHL Global Mail
Die Stiftung
Dou Group
Drger Foundation

Edelman
Effect Public Relations
Eon Hanse
Ernst & Young
ESN - Energie Systeme Nord
Euro Intelligence
Euro-Mediterranean Association
European Climate Foundation
European Commission
Evangelisch-Lutherische Kirche in Norddeutschland
Fachschaft WiSo an der Universitt Kiel
Falling Walls
Famila
Frde Sparkasse
Forum CSR international
Frerichs Glas
Fundao Getulio Vargas
Future Challenges
Garantie Portfy
German Chamber of Industry and Commerce in Brazil
German Maritime Security
Global Governance Institute
Global Institute for Tomorrow
Grundhitze
Grupo JSL
Gymnasium Altenholz
Gymnasium Wellingdorf
Hamburg Chamber of Commerce
Hartmann Winkelmann Bauer
Heinrich Bll Stiftung
Heinrich Knievel Kiel
Heinz Nixdorf Stiftung
Hering Schuppener
Hermann Hinrichs Bonbonkocherei
HP Hewlett-Packard
HSH Nordbank
Hrriyet
Hrriyet Daily News & Economic Review
IHK Schleswig-Holstein
India Development Foundation
Institute for International Strategy and Information
Analysis, Inc.
Institute for New Economic Thinking
Institute for Security Policy at Kiel University
Internationaler Wirtschaftssenat

Invest in Visions
Investitionsbank Schleswig-Holstein
Istanbul 2010 - European Capital of Culture
Kaufmannschaft zu Lbeck
Kersig Immobilien
Kiel Sailing City
Kieler Nachrichten
Ko University
KPMG
KWS Kieler Wach- und Sicherheitsgesellschaft
Lumenogic
Manager Magazin
Manpower Group
Max Jenne
Mediatenor
Medicana
Metro
Ministry of Economic Affairs, Employment, Transport
and Technology, Schleswig-Holstein
Ministry of Science, Economics and Transport,
Schleswig-Holstein
Nestl
Nobels Colloquia
OAV German Asia-Pacific Business Association
OECD Forum
OECD Library
Only Glass
Oxford Analytica
Porsche
Power Personen-Objekt-Werkschutz
Project Syndicate
Promostudio
Provinzial
Redisa
Richard-Hallmann-Schule Trappenkamp
Rixos Hotels

Salo + Partner
Sartori & Berger
Scuderi Engine
Sicherheit Nord
Siemens
SOS Childrens Villages
Springer-EMS Pte Ltd
Stadtwerke Kiel
Statista
Sverkrp Ahrendt
TAM Airlines
TAV Airports
The Banks Association of Turkey
The Royal Bank of Scotland Group (RBS)
Towers Watson
TUI
Turk Telekom
Turkish Airlines
Tsiad
Tuskon
Universiti Teknologi Mara
UP Unternehmer Positionen Nord
Varyap
Vater Unternehmensgruppe
Vattenfall
Vereinigung der Unternehmerverbnde in Hamburg
und Schleswig-Holstein e.V.
Verkehrsbetriebe Kreis Pln
Volkswagen
Wiedeking Stiftung
Wise Pens International
Zllner
Zurich Re

Selected Speakers 20082014

Affiliations are those at the time of GES attendance.

Business
George Atalla, Global Sector Leader, Government
and Public Sector, Ernst & Young
Martin Bachmann, Member of the Board,
Wintershall Holding
Shumeet Banerji, Member of the Board of
Directors, Hewlett-Packard Company
Paul Bulcke, CEO, Nestl SA
Hans-Paul Brkner, President and CEO, The
Boston Consulting Group
Victor Chu, Chairman and CEO, First Eastern
Investment Group
Alieu Conteh, Chairman of the Board, African
Wireless
Diane Coyle, CEO, Enlightenment Economics
Antoine Firmenich, Founding Partner, Alatus
Capital, Singapore
Jrgen Fitschen, Co-CEO, Deutsche Bank
Sergio Gabrielli, Former President and CEO,
Petrleo Brasileiro S.A. Petrobras
Kris Gopalakrishnan, Co-Founder and Executive
Co-Chairman, Infosys Limited
John J. Haley, Chairman of the Board and CEO,
Towers Watson
Paul Holthus, Founding President and CEO,
World Ocean Council
Axel Hrger, CEO of UBS Germany and CEO
Wealth Management Germany, UBS AG

Charon bin Mokhzani, Managing Director,

Khazanah Research Institute, Malaysia
Ren Obermann, CEO, Deutsche Telekom AG
Geoff Riddell, Member of the Group Executive
Committee, Zurich Insurance Company
Suzan Sabanc Diner, Chairperson and
Executive Board Member, Akbank
Rolf Salo, Chairman of the Board, SALO
Burkhard Schwenker, CEO and Chairman of
the Supervisory Board, Roland Berger Strategy
Consultants
Jane Shaw, Chairperson of the Board of Directors,
Intel Corporation
Adam Sweidan, Founder and CIO, Aurum Fund
Management
Johannes Teyssen, CEO, E.ON
Albert Ting, Chairman, CX Technology Corporation
Axel Weber, President of the Board of Directors,
UBS AG
Heinrich Weiss, Chairman of the Supervisory
Board, SMS group
Changzheng Zou, President, Baosteel Europe

Politics

Aolin Liu, Executive Director of Research Department, China International Capital Corporation
Ana M. Llopis Rivas, Chairperson of the Board,
Distribuidora Internacional de Alimentacin
S.A.(DIA)

Montek Ahluwalia, Deputy Chairman, Planning

Commission, Government of India
Martti Ahtisaari, Founder and Chairman of the
Board, Crisis Management Initiative
Joaqun Almunia, Vice-President and Commissioner for Competition, European Commission
H.R.H. Prince Turki Al Faisal Alsaud, Founder and
Trustee, King Faisal Foundation
H.E. Sheikha Lubna Al Qasimi, Minister of Foreign
Trade, United Arab Emirates
Lszl Andor, EU Commissioner for Employment,
Social Affairs and Inclusion, European Commission
Sir Michael Arthur, Former Ambassador to
Germany of the United Kingdom

Michael Mack, CEO, Syngenta International

Thomas Mirow, Chairperson of the Supervisory
Board; Chairman of the Supervisory Board,
HSH Nordbank

Ali Babacan, Deputy Prime Minister and Minister

of State, Turkey
Erdem Ba, Governor, Central Bank of Turkey
Anders Borg, Minister of Finance, Sweden

William Janeway, Senior Advisor, Warburg Pincus

Temel Kotil, President and CEO, Turkish Airlines
Barbara Krumsiek, President, CEO and Chair,
Calvert Investment, Inc.; Director and Chair,
Acacia Life Insurance Company

mer Diner, Minister of Labor and Social

Security, Turkey
Recep Tayyip Erdoan, Prime Minister, Turkey
Jos Maria Figueres Olson, President, Carbon
War Room
Abdullah Gl, President, Turkey
Wim Kok, President, Club de Madrid
Chung-Ming Kuan, Minister, National Development
Council
Pascal Lamy, Honorary President, Notre Europe,
Jacques Delors Institute

Ashraf Ghani, Co-Founder, The Institute for State

Effectiveness
Anthony Gooch, Director of Public Affairs and
Communications, OECD
Caio Koch-Weser, Chairman, European Climate
Foundation
James P. Leape, Director General, WWF
Yves Leterme, Deputy Secretary-General, OECD
Laura Liswood, Secretary-General, Council of
Women World Leaders; Senior Advisor, Goldman
Sachs

Charity Kaluki Ngilu, Minister of Water and

Irrigation, Kenya

Thomas Mirow, President, European Bank for

Reconstruction and Development
Mahmoud Mohieldin, Corporate Secretary and
Presidents Special Envoy, World Bank
Liz Mohn, Member of the Supervisory Board,
Bertelsmann Stiftung

Supachai Panitchpakdi, Secretary-General,

UNCTAD

Irene Natividad, President, Global Summit of

Women

Batool I. Qureshi, Federal Secretary, The Ministry

of Women Development, Pakistan

Mathieu Ricard, Founder, Karuna-Shechen

Sanjit Bunker Roy, Founder, Barefoot College

Trevor Manuel, Minister in the Presidency, National

Planning Commission, South Africa

H.E. Jerry John Rawlings, Former President,

Ghana
Sanusi Lamido Sanusi, Governor, Central Bank
of Nigeria
Wolfgang Schssel, Member of the Supervisory
Board, RWE; Former Federal Chancellor, Austria
Mehmet imek, Minister of Finance, Turkey

Nemat Shafik, Deputy Managing Director,

International Monetary Fund
George Soros, Founder and Chairman, Open
Society Foundations
Barbara Unmig, President, Heinrich Bll
Foundation

Adair Turner, Senior Fellow, Institute for New

Economic Thinking

Academia

Robert Wainwright, Director, Europol

George A. Akerlof, Nobel Laureate; Professor of

Economics, University of California, Berkeley

International and Non-Governmental

Organizations
H.E. Nana Konadu Agyeman-Rawlings, President,
31st December Womens Movement
Lester Brown, Founder and President, Earth Policy
Institute
John H. Bryant, Founder, Chairman and CEO,
Operation HOPE Inc.
Aart De Geus, Chairman and CEO, Bertelsmann
Stiftung; Former Deputy Secretary General, OECD

Richard E. Baldwin, Professor of International

Economics, Graduate Institute of International
and Development Studies, Geneva
Amar Bhid, Thomas Schmidheiny Professor,
The Fletcher School of Law and Diplomacy,
Tufts University
Willem Buiter, Chief Economist, Citibank;
Professor of European Political Economy, LSE
Paul Collier, Professor of Economics, University
of Oxford
John Deutch, Institute Professor of Chemistry,
MIT; Former Director, CIA

Selected Speakers 20082014

Barry Eichengreen, Professor of Economics
and Political Science, University of California,
Berkeley
Richard Ernst, Nobel Laureate; Swiss Federal
Institute of Technology, Zurich

Joseph E. Stiglitz, Nobel Laureate; Professor,

School of International and Public Affairs (SIPA),
Columbia University

Charles Goodhart, Emeritus Professor of Banking

and Finance, The London School of Economics
and Political Science
Pablo E. Guidotti, Professor at the School of
Government and Member of the Board of
Directors, Universidad Torcuato di Tella,
Argentina

Tze-Chen Tu, General Director, Centre of Knowledge-based Economy and Competitiveness,

Industrial Technology Research Institute
David Tuckett, Professor and Director of the
Centre for the Study of Decision-Making
Uncertainty, University College London
Astrid Tuminez, Regional Director, Legal and
Corporate Affairs (LCA), Southeast Asia,
Singapore

Robert A. Johnson, President, Institute for New

Economic Thinking

Joachim von Braun, Director, Centre for

Development Research, University of Bonn

Anne O. Krueger, Professor of International

Economics, SAIS, Johns Hopkins University;
Senior Fellow, Stanford Center for International
Development

Eric Weinstein, Managing Director, Thiel Capital,

USA
Guntram Wolff, Director, Bruegel Institute

George Lakoff, Professor of Linguistics, University

of California, Berkeley
Edward Lazear, Professor of Human Resources
Management and Economics, Stanford Graduate
School of Business
Assar Lindbeck, Professor of International
Economics, Stockholm University
Eric Stark Maskin, Nobel Laureate; Professor
of Economics, Harvard University
Daniel L. McFadden, Nobel Laureate, Professor
of Economics, University of California, Berkeley
Robert Mundell, Nobel Laureate, Professor of
Economics, Columbia University

Media
Kerem Alkin, Economy Director, Bloomberg HT
Andrea Cabrini, Director, ClassCNBC
Edward Carr, Foreign Editor, The Economist
Kim Cloete, Journalist, Moneyweb
Declan Curry, Business Correspondent,
BBC News
Conny Czymoch, Anchor and Journalist,
Phoenix TV
Saugato Datta, Economics Correspondent,
The Economist

Chandran Nair, Founder and CEO, Global Institute

for Tomorrow

Misha Glenny, Journalist and Author

Nick Gowing, Main Presenter, BBC World

Maurice Obstfeld, Professor of Economics,

University of California, Berkeley

Fiona Harvey, Environment Correspondent,

Financial Times

Edmund Strother Phelps, Nobel Laureate;

Professor of Political Economy, Columbia
University

Wolfgang Munchau, Co-Founder and President,

Eurointelligence; Associate Editor, Financial Times

Robert Shiller, Professor of Economics, Yale

University
Tania Singer, Director, Department of Social
Neuroscience, Max Planck Institute for Human
Cognitive and Brain Sciences
Michael Spence, Nobel Laureate; Chairman,
Commission on Growth and Development

Advisory Board
Chair of the Advisory Board
Sean Cleary, Chairman, Strategic Concepts, South
Africa

Academics
Sahol Hamid Abu Bakar, President and Vice
Chancellor, Universiti Teknologi MARA, Malaysia
Pablo Guidotti, Professor at the School of Government and Member of the Board of Directors,
Universidad Torcuato di Tella, Argentina
Robert Johnson, President, The Institute for New
Economic Thinking, USA
Edward Lazear, Professor of Human Resources
Management and Economics, Stanford University,
USA
Daniel McFadden, Nobel Laureate; Professor of
Economics, University of California, Berkeley,
USA
Richard Portes, Professor of Economics, London
Business School, UK
Carlos Simonsen Leal, President, Fundao
Getulio Vargas (FGV), Brazil
Klaus Tochtermann, Director, ZBW-Leibniz
Information Centre for Economics, Germany

Policy- and Decision-Makers

Sir Michael Arthur, Former Ambassador to
Germany, Embassy of the United Kingdom,
Germany
Erdem Ba,Governor, Central Bank of Turkey,
Turkey
Pascal Lamy, Honorary President, Notre Europe Jacques Delors Institute, France
Arun Maira, Former Member, Planning Commission
of India, India
Mahmoud Mohieldin, Corporate Secretary and
Presidents Special Envoy, World Bank, USA
Mehmet imek, Minister of Finance, Turkey
Sir Peter Torry, Former Ambassador to Germany,
Embassy of the United Kingdom, Germany
Viviane Reding, Former Vice-President of the
European Commission; Member of the European
Parliament, Belgium
Yutaka Yamaguchi, Former Deputy Governor,
Central Bank of Japan, Japan

Leaders of International and NonGovernmental Organizations

Martti Ahtisaari, Nobel Laureate; Founder and
Chairman of the Board, Crisis Management
Initiative, Finland
Aart De Geus, Chairman and CEO, Bertelsmann
Stiftung, Germany
Caio Koch-Weser, Chair of the Supervisory
Board, European Climate Foundation, UK
Irene Natividad, President, Global Summit of
Women, USA

Business Leaders
Hans-Paul Brkner, Chairman, The Boston
Consulting Group, Germany
Victor Chu, Chairman and CEO, First Eastern
Investment Group, Hong Kong
Jost de Jager, Senior Advisor, Rochus Mummert,
Germany
Richard Evans, CEO (retd.), Alcan Inc and Rio
Tinto Alcan, USA
Jacob Frenkel, Chairman, JPMorgan Chase
International, USA
John Haley, CEO, Towers Watson, USA
Thomas Mirow, Chairperson of the Supervisory
Board, HSH Nordbank, Germany
Steffen Naumann, Chief Financial Officer, The
Zuellig Group, Hong Kong
Eivind Reiten, Chairman, Strategic Industrial
Capital Partners (SICP), UK
Geoff Riddell, Regional Chairman APMEA,
Zurich Insurance Group, Hong Kong
Albert Ting, Chairman, CX Technology Corporation,
Taiwan
Astrid Tuminez, Regional Director, Legal and
Corporate Affairs (LCA), Southeast Asia, Microsoft,
Singapore
Ibrahim Turhan, Chairman and CEO, Borsa
Istanbul, Turkey
Jim Zemlin, Executive Director, Linux Foundation, USA

Media
Declan Curry, Business Journalist and Conference
Speaker, United Kingdom
Conny Czymoch, International Moderator and
Journalist, Germany

GES 2015
The eighth Global Economic Symposium (GES) will take place in

Kiel
on October 1214, 2015.
It is the third time that the GES takes place in the hometown of the Kiel Institute for the World
Economy (IfW). Following the traditions of GES, the Kiel Institute cooperates with prominent
research institutes, foundations, and civil society organizations as well as top companies worldwide to
organize the GES 2015a research-based exchange and a solution-oriented symposium.

Values to Guide Economies

is the overarching theme of the GES 2015. In about 24 sessions, this years GES will explore essential
values and develop value-based, innovative solution proposals to achieve sustainable and equitable
prosperity. The sessions will address global challenges concerned with Financial Regulation and
Stability, Environmental Sustainability, Societal Development, Integration and Equality and Innovation
and Prosperity.

Further Information about GES

Please find further information about
GES online:

Faster information: Connect with the GES network

and interact with us via the following social networks:

www.global-economic-symposium.org

Twitter Facebook

Twitter: @The_GES, #gesym15

Google+ YouTube

Global Economic Symposium (GES)

Kiel Institute for the World Economy
Kiellinie 66, D-24105 Kiel
Phone: +49(431)8814-1
www.ifw-kiel.de
www.global-economic-symposium.org
info@global-economic-symposium.org
Editorial Staff
Ilse Bxenstein-Gaspar, Kathrin Kupke, Dennis Grlich (responsible)
Design & Layout
www.christian-ulrich.de, Kerstin Stark
Pictures
Front: top f.l.t.r.: zcan Arslan Fotolia.com, Ermin Gutenberger Brasil2 iStockphoto; Frederic Bos Fotolia.
com; Gary Fotolia.com; Bruno Bernier Fotolia.com;
bottom f.l.t.r.: Fenykepez iStockphoto; Stasys Eidiejus Fotolia.com; Landeshauptstadt Kiel/Insa Matzen
Pages 45: Christina Kloodt Fotografie IfW (7), Foto Renard (4), Fabian Frost IfW (3), Fidfathir/UiTM (2),
Frank Schischefsky (2); Sascha Klahn (1), Vermelho & Locatel, Luz e Sombra (1);
page 5: Photo Eric Stark Maskin Cliff Moore, Photographer