03Nov2014 Think Week 2014: Successful Investment Policy Design
More than a dozen experts from leading policy think tanks in emerging and industrialized countries met upon invitation of the Economic Policy Forum (EPF) from 3 to 6 November in Beijing for a „Think Week“ around issues of „Successful Investment Policy Design – Framing Challenges and Opportunities of Emerging Economies.“
The innovative concept of this Think Week combined a 2-day roundtable discussion on input papers from key Chinese investment experts with visits to reknowned Think Tanks based in China’s capital. As growth in BRICS+ countries continues to depend on investments, yet capital flows remain highly volatile, the policy experts discussed how investment policies can generate sustainable economic growth. The topic’s relevance is recognized also by the establishment of a G20 „Investment and Infrastructure Working Group“ focusing on similar topics.
In Beijing, experts from Bangladesh, Brazil, China, Germany, India, Pakistan, Russia, South Africa, Turkey and Vietnam presented their research, providing specific country perspectives to such challenges as the issue of the sequencing and timing of public investments, the inadequate involvement of the private sector in public infrastructure projects, and the problematic of guaranteeing sustainability of investments. Going beyond the national context, the role of Chinese foreign direct investment and investment patterns of foreign players in Africa were discussed. Both themes were agreed to be taken further in cooperative research strands for the development of joint policy recommendations.
Keynote presentations from representatives of the Chinese Central Bank, the Ministry of Finance’s associated Asia-Pacific Finance and Development Center (AFDC), and Chinese Academy of International Trade and Economic Cooperation (CAITEC) provided valuable input on China’s successful investment policies, as did a visit to the China Development Research Foundation (CDRF) and the Development Research Center (DRC) of the Chinese State Council, which advises at the highest political level.
The Think Week thus combined a focused international research exchange with the study of specific policies and reform measures. The Brazilian think tank Fundação Getulio Vargas (FGV), which has been commissioned by the French government for the upcoming COP21 in Paris with the development of guidelines for sustainable business practices and investments in various sectors, agreed with other participants at the EPF Think Week to jointly develop and present such a Code of Conduct in Paris in November 2015. This is a good illustration of how EPF’s research results and policy recommendations continue to inform international policy processes.