Workshop: "The current world economic deflation: its consequences on companies' investment strategies; lessons for the emerging countries"


Time: 14:00 – 17:00 | 12.4.2016
Venue: at Hotel de l’Opera Hanoi, 29 Trang Tien, Hanoi.

1) Prof. Dr. Joel Metais, Paris Dauphine University
2) Prof. Dr. Alain Chevalier, ESCP Europe

The developed countries –notably Japan and some European ones - are going through an amazing situation: their “quantitative easing” monetary policies are unable to raise the inflation rate! Prices of raw materials, agricultural products, energy and some industrial  products are depressed and their producers are ailing; emerging countries (China, Brazil) are also slowing down, which strengthens the difficulties of the industrial ones. This situation has a name: deflation and it has existed in the thirties of the past century. It is a consequence of the 2008 financial crisis and of the ensuing economic policies which have now come to their limits. The most striking feature of this situation is the existence of interest rates close to zero or negative which are ineffectual to support investment and economic activity. However, the governments are still largely reluctant to stimulate economic growth through ambitious public expenditures programs.

The consequences of this economic situation for industrial and service companies in the developed world will be identified. Examples issued from a large European study and cases from the US & Canada will be used to design the rationale behind this situation-a lack of available profitable portfolio of investments-.Good practices and “watch dogs” coming from these studies will be proposed for discussion. The ability to extend these criteria to different categories of firms in emerging countries will be presented and discussed. The couples “countries-firms” are heterogeneous in emerging countries. Examples will be brought to the workshop and analyzed. This means that the economic policies to be enforced could be different from one country to the other. A focus will be developed on the Vietnamese case.


Joel Metais

Prof. Dr. Joel Metais, Paris Dauphine University

Pr. Dr. Joel Metais holds a Ph.D. degree in Science of Economics from Paris Dauphine University in 1972. His fields of teaching and research include: Industrial Economics of the Banking and Financial sector; Monetary and Financial Economics; History of the International Monetary and Financial System. His areas of Expertise are Financial Systems Transformations and Banks' strategies. He is the Co-Director of the 'Master in Economics of Banking and Finance' a joint degree of University Paris-Dauphine and ESCP-Europe business school delivered at CFVG, Hanoi and ho Cho Minh City

Alain Chevalier

Prof. Dr. Alain Chevalier, ESCP Europe

Pr. Dr. Alain Chevalier is an Emeritus Professor of Finance at ESCP Europe. He is a former Vice Director General at ESCP Europe. He was also one of the founders of the French Finance Association (AFFI) and is a former President of the European International Business Academy (EIBA). He worked as a consultant on complex investment projects, financial engineering and restructuration of companies and debts for banks, large corporations and governments. He is currently the Scientific Co-Director of MEBF program in Vietnam

With the participation and discussion of Dr. Vo Tri Thanh, Vice President of Central Institute for Economic Management (CIEM) 

Vo Tri Thanh

Dr. Vo Tri Thanh, 
Vice President, Central Institute for Economic Management (CIEM)

Dr. Vo Tri Thanh has been the CIEM Vice President since May 2009. He specializes in economic analysis, trade, international integration, finance development and macroeconomic policies. Besides, he is also interested in institutional reform and economic development. He got PhD Degree from the Australian National University (ANU) in 1997. He had some awards in economic studies, including the second prize for best research in ‘Mutual impact, global economic structure and Millennium Development Goals’ by GDN in 2005 (co-author with Trinh Quang Long); the Award of the Australian National University for his contribution in economic development of Vietnam in November 2008; special prize of United Nations on the Policy impacts of the Human Development Report 2001 (co-editor with many other authors).

Time: 14:00 – 17:00 | 12.4.2016
Venue: at Hotel de l’Opera Hanoi, 29 Trang Tien, Hanoi.  

Language: English

For more information, please contact: / Tel: 04-3-8691066 (Ext. 22)


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01, April, 2016