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Professor Stephany Griffith-Jones (Columbia University, NY; Institute of Development Studies, and member of the Progressive Economy Forum Council) is one of the world’s leading experts on public development banks, having advised several national governments and international organisations, such as the United Nations, World Bank, and European Parliament, on their role in a dynamic economy.
In this special public lecture, co-hosted by the Progressive Economy Forum (PEF) and UCL’s Institute for Innovation and Public Purpose (IIPP), Professor Griffith-Jones outlined the case for establishing a public development bank in the UK, drawing from the evidence presented in her most recent book, The Future of National Development Banks(Oxford University Press, co-edited with Professor José Antonio Ocampo). She was joined by the Shadow Chancellor Rt Hon. John McDonnell MP, who spoke on Labour’s plans for a National Investment Bank and the role such an institution could play in a transformed UK economy.
These speeches were followed by comment from Dr Joshua Ryan-Collins, Head of Research at IIPP and most recently author of Why Can’t You Afford a Home?(Polity). There was then be the opportunity for Q&A with members of our panel, followed by a drinks reception.
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Stephany Griffith-Jones is Financial Markets Program Director at the Initiative for Policy Dialogue, Columbia University and Emeritus Professorial Fellow at Institute of Development Studies. She has published widely (including 25 books) on macroeconomic policy, national and international financial architecture reform, and on public investment banks, both national, regional and multilateral. Before her most recent book, she published Time for a Visible Hand: Lessons from the 2008 World Financial Crisis, co-edited by Joseph Stiglitz and José Antonio Ocampo.
The Future of National Development Banks
The Future of National Development Banks provides an in-depth study of several national development banks based in a wide variety of countries, including Germany, China and Peru. It presents both research- and policy-oriented perspectives on how these banks can make a significant contribution to inclusive and sustainable growth, innovation, regulation and financial inclusion. It also analyses their roles within broader economic policy, the governance structures conducive to creating “good” development banks, and the main instruments they use to perform their function. This book has important policy implications not only for countries that seek to improve their existing development banks, but also for those that are yet to establish such institutions and can learn from best practice. Specifically, it provides valuable insight on how a National Investment Bank should be established in the UK.