Speaking at the Hutchins Center on Fiscal and Monetary Policy at Brookings on “Where are the financial stability risks now?” Hyun Song Shin, economic adviser and head of research for the Bank for International Settlements, emphasized the significance of changing patterns of finance in the quest to maintain global financial stability.
Financial intermediation, he said, is evolving away from traditional banking to capital markets even as many regulatory instincts continue to be shaped by banking-related concerns. Future financial crises, he cautioned, may not follow the same course at the recent one, he said.
Before joining the BIS staff in May 2014,, Mr Shin was the Hughes-Rogers Professor of Economics at Princeton University. In 2010, on leave from Princeton, he served as Senior Adviser to the Korean president, taking a major role in formulating financial stability policy in Korea and developing the agenda for the G20 during Korea’s presidency. From 2000 to 2005, he was Professor of Finance at the London School of Economics.
Shin holds a DPhil and MPhil in Economics from Oxford University (Nuffield College) and a BA in Philosophy, Politics and Economics from the same university.