Economics Seminar: Climate Change, Sovereign Debt, and the Looming Debt Crisis in the Global South

Dates: Tuesday, October 19, 2021 - 13:00 to 14:30
Location: Online via Teams

Presented by: Professor Ulrich Volz (SOAS, University of London); Discussant: Dr. Elva Bova (European Commission)

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The monthly seminar series is organised by Economics at The Open University, aimed at bringing practitioners and researchers together to discuss new developments and challenges in a post-pandemic world.

These events are held Online via Teams. Follow the seminar series for details of future events.

Title:

Climate Change, Sovereign Debt, and the Looming Debt Crisis in the Global South

Abstract:

- What do we know about how climate change will affect the macroeconomy?

- What is the impact of climate risk on financial sector stability?

- Will countries facing the greatest climate risks also face the steepest rise in cost of public borrowing?

In this seminar, Professor Ulrich Volz, founder of the Centre for Sustainable Finance at University of London’s School of Oriental and African Studies and Senior Research Fellow at the German Development Institute, will be setting out the challenges of mobilising finance for a sustainable transition.

Elva Bova, economist at the European Commission and formerly at the International Monetary Fund, will act as discussant.

Speaker:

Ulrich Volz is a Professor in Economics at SOAS University of London and Founding Director of the SOAS Centre for Sustainable Finance. He is also a Senior Research Fellow at the German Development Institute and Honorary Professor of Economics at the University of Leipzig. At SOAS, he previously served as Head of the Department of Economics and Member of the University’s Executive Board. Ulrich is Chairman of the Japan Economy Network and Co-editor-in-chief of the Asia Europe Journal. Ulrich holds a PhD from Freie Universität Berlin and was a Fox International Fellow and Max Kade Scholar at Yale University. Ulrich was part of the UN Inquiry into the Design of a Sustainable Financial System and has acted as an advisor to several governments, central banks, international organisations and development agencies on matters of sustainable finance and development.

Discussant:

Elva Bova is Deputy Head of the National Fiscal Frameworks and Institutions Unit in the European Commission’s Directorate General for Economic and Financial Affairs (DG ECFIN). From 2010 to 2016, she was an Economist at the IMF in the Fiscal Affairs Department. She also worked as the Senior Economist of the Foundation for European Progressive Studies. Prior to joining the Fund, she obtained her PhD from the School of Oriental and African Studies, University of London. She has published on public finance, inequality and labour market.