Hal S. Scott (born 1943) is the Director of the Committee on Capital Markets Regulation, [1] Co-Chair of the Council on Global Financial Regulation, an independent director of Lazard, Ltd., [2] a member of the Bretton Woods Committee. [3] He is a past President of the International Academy of Consumer and Commercial Law and a past Governor of the American Stock Exchange (2002–2005).
He is the Nomura Professor and Director of the Program on International Financial Systems at Harvard Law School, [4] where he has taught since 1975. He teaches courses on Capital Markets Regulation, International Finance, the Payment system, and Securities regulation.
Professor Scott's books include the law school textbook International Finance: Transactions, Policy and Regulation (19th ed. Foundation Press 2012); International Finance: Law and Regulation (3rd ed. Sweet and Maxwell 2012) and The Global Financial Crisis (Foundation Press 2009). [5] [6]
Professor Scott has a B.A. from Princeton University (Woodrow Wilson School, 1965), an M.A. from Stanford University in Political Science (1967), and a J.D. from the University of Chicago Law School (1972). In 1974-1975, before joining Harvard, he clerked for Justice Byron White.
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western European countries, Australia, and Japan after the 1944 Bretton Woods Agreement. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent states. The Bretton Woods system required countries to guarantee convertibility of their currencies into U.S. dollars to within 1% of fixed parity rates, with the dollar convertible to gold bullion for foreign governments and central banks at US$35 per troy ounce of fine gold. It also envisioned greater cooperation among countries in order to prevent future competitive devaluations, and thus established the International Monetary Fund (IMF) to monitor exchange rates and lend reserve currencies to nations with balance of payments deficits.
John Leonard Eatwell, Baron Eatwell, is a British economist who was President of Queens' College, Cambridge, from 1996 to 2020. A former senior advisor to the Labour Party, Lord Eatwell sat in the House of Lords as a non-affiliated peer from 2014 to 2020, before returning to the Labour bench.
Peter Bain Kenen was an American economist, who was the Walker Professor of Economics and International Finance at Princeton University, and senior fellow in international economics at the Council on Foreign Relations.
Marina von Neumann Whitman is an American economist, writer and former automobile executive. She is a professor of business administration and public policy at the University of Michigan's Ross School of Business as well as The Gerald R. Ford School of Public Policy.
Eli M. Noam is a professor of Finance and Economics at the Columbia Business School, and holds the Paul Garrett Chair in Public Policy and Business Responsibility. He is the director of the Columbia Institute for Tele-Information (CITI). He works on the economics, management, and policy of media and the digital world, most recently on global media ownership and on next-generation “Cloud-TV”. He has written over 400 articles and has authored, edited, and co-edited over 30 books.
Robert C. Clark is Harvard University Distinguished Service Professor, Emeritus and the Austin Wakeman Scott Professor of Law, Emeritus at Harvard Law School. He previously served as dean and professor of law at Harvard Law School from 1989 to 2003. Clark is recognized as a leading authority in corporate law and corporate governance.
José M. González-Páramo is a Spanish economist who served as a member of the Executive Board of the European Central Bank from 2004 to 2012.
Malcolm D. Knight is a Canadian economist, policymaker and banker. He is currently Visiting Professor of Finance at the London School of Economics and Political Science and a Distinguished Fellow at the Center for International Governance Innovation. From 2008 to 2012, Knight was Vice Chairman of Deutsche Bank Group where he was responsible for developing and coordinating the bank's global approach to issues in financial regulation, supervision, and financial stability. He served as general manager of the Bank for International Settlements from 2003 to 2008 and as Senior Deputy Governor of the Bank of Canada (1999-2003), after holding senior positions at the International Monetary Fund (1975-1999).
An international monetary system is a set of internationally agreed rules, conventions and supporting institutions that facilitate international trade, cross border investment and generally the reallocation of capital between states that have different currencies. It should provide means of payment acceptable to buyers and sellers of different nationalities, including deferred payment. To operate successfully, it needs to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade, and to provide means by which global imbalances can be corrected. The system can grow organically as the collective result of numerous individual agreements between international economic factors spread over several decades. Alternatively, it can arise from a single architectural vision, as happened at Bretton Woods in 1944.
Kingsley Chiedu Moghalu OON is a Nigerian political economist. He served as Deputy Governor of the Central Bank of Nigeria, appointed by President Umaru Musa Yar'Adua, from 2009 to 2014. He subsequently taught at Tufts University as Professor of Practice in International Business and Public Policy at The Fletcher School of Law and Diplomacy from 2015 to 2017. He was the presidential candidate of the Young Progressive Party (YPP) in the country's general election in February 2019.
The Committee on Capital Markets Regulation is an independent and nonpartisan 501(c)(3) research organization financed by contributions from individuals, foundations, and corporations.
Robert Rudolf Glauber was an American academic who was a lecturer at Harvard's Kennedy School of Government and a visiting professor at the Harvard Law School. He was the former chairman, president, board member and chief executive officer of NASD, and Under Secretary of the Treasury for Domestic Finance from 1989 to 1992. Glauber was executive director of the task force appointed by President Reagan to report on the 1987 stock market crash. He was also a director of Moody's Corporation, a trustee of the International Accounting Standards Committee Foundation; and director of XL Capital Ltd. Glauber had been a senior advisor at Peter J. Solomon Co., an investment bank, since November 2006 and was a member of the Committee on Capital Markets Regulation. He received his degrees from Harvard College and Harvard Business School.
Liliana Rojas-Suarez is a Peruvian economist, who is currently a Senior Fellow and Director of the Latin American Initiative at the Center for Global Development. She is also Core Faculty for the Program in Economic Policy Management at School of International and Public Affairs, Columbia University and the President of the Latin American Committee on Macroeconomic and Financial Issues (CLAAF). In 2012, Rojas-Suarez was named Economist of the Year by Lima’s Chamber of Commerce.
Michael S. Barr is an American legal scholar who has been the second vice chair of the Federal Reserve for supervision since 2022. From 2009 to 2011, he was assistant secretary of the treasury for financial institutions under President Barack Obama.
Antonio Francesco Weiss is a policymaker, financier, and former publisher. He is currently a senior fellow at the Mossavar-Rahmani Center for Business and Government at Harvard’s Kennedy School.
Eric Helleiner is an author and professor of political science and the Faculty of Arts Chair in International Political Economy at the University of Waterloo, and a professor at the Balsillie School of International Affairs. He holds a Ph.D. and M.Sc. from the Department of International Relations of the London School of Economics, and received a B.A. in Economics and Political Science from the University of Toronto.
Joseph Aloysius McCahery is an academic researcher, corporate lawyer and institutional adviser. McCahery is most notable for his contribution in corporate finance and law, European business law, financial markets and banking regulations, the political economy of federalism and taxation.
Eilís Veronica Ferran, FBA is a Northern Irish solicitor, legal scholar, and academic administrator. As an academic, she specialises in company law, financial regulation, and corporate finance. She has been Professor of Company and Securities Law at the University of Cambridge since 2005, and its Pro-Vice-Chancellor for Institutional and International Relations since 2015.
Michael David Bordo is a Canadian and American economist, currently Board of Governors Professor of Economics and Distinguished Professor of Economics at Rutgers University. He is a research associate at the National Bureau of Economic Research as well as a Distinguished Visiting Fellow at the Hoover Institution at Stanford University. He is the third most influential economic historian worldwide according to the RePEc/IDEAS rankings. He was a student of Milton Friedman and has co-authored numerous books and articles with Anna Schwartz.