Public debt markets, government expenditure and fiscal prudence

The 4th international conference on Sovereign Bond Markets. The conference this year focuses on public debt markets, government expenditures and fiscal prudence and is sponsored by the National University of Singapore Business School and its Centre for Asset Management Research and Investments. Co-sponsors include the University of Michigan, Mitsui Life Financial Research Center, Research Center SAFE at Goethe University Frankfurt, NYU Stern Salomon Center for the Study of Financial Institutions, the Center for Financial Research at Waseda University, Bank of Canada and the Centre for Islamic Banking, Finance and Management at Autoriti Monetari Brunei Darussalam (Brunei). This year the focus of the conference is on the linkage between sovereign debt and real economic activity. To a certain extent, and at least in the short-run, public debt promotes economic growth given it allows the government to build infrastructure, provide health care, improve education and national job training efforts, all of which keep its citizens healthy and productive. That said, a common view is that too high a public debt level will impinge on overall economic growth in the long-run. However, not everyone agrees on the direction or cause of this correlation. This conference will analyze the causes and channels by which sovereign debt, unconventional monetary policies and economic growth are interlinked and their impact on savings, investments, capital markets, uncertainty, interest rates and liquidity both in developed and emerging countries.