Jeffrey Chwieroth

Professor Jeffrey Chwieroth is currently a Professor of International Political Economy in the Department of International Relations at the London School of Economics, where is he also co-investigator of the Systemic Risk Centre. He is the author of The Wealth Effect: How the Great Expectations of the Middle Class Have Changed the Politics of Banking Crises (Cambridge University Press, 2019, with Andrew Walter, University of Melbourne) and Capital Ideas: The IMF and the Rise of Financial Liberalization (Princeton University Press, 2010), as well as numerous articles on the political economy of global finance. His research has previously been supported by grants from the Australian Research Council, the AXA Research Fund, the British Academy for the Humanities and Social Sciences, and the Economic and Social Research Council

"The course was amazing! It was such a life-changing experience attending the classes. Professor Chwieroth combined critical, structural, and historical analysis and provided wonderful lectures. It was great, I would definitely recommend this course! PKU and Beijing were also a great part of that amazing experience. The diversity of nationalities and backgrounds of my peers was really enriching." Gabriella Guimeres, University of São Paulo, Brazil

Click here to read more of our alumni testimonials.

 

Key learning outcomes include achieving a deep understanding of the relevant debates and differing perspectives on the key issues below, as well as developing the analytical skills and building in-depth empirical knowledge to formulate independent and coherent views on these issues.

• Can China avoid a financial crisis following its ongoing credit boom?

• How does “shadow banking” operate in China? What opportunities does it create? What risks does it pose?

• Why does the world economy continue to rely on the U.S. dollar despite the risks associated with such a system?

• Will the Chinese Yuan (RMB) replace the U.S. dollar as the world’s leading currency?

• Why has the practice of central banking changed in China and elsewhere since the crisis?

• How can China and other emerging and developing economies best respond to the perils and opportunities arising from international financial integration?

• What are the origins of banking crises and systemic risk?

• In what ways has financial regulation changed in China and globally since the financial crisis?

• How effective will these new regulatory measures be in containing systemic risk and preventing crises?

There are no prerequisites for this course.

Assessment will be based on a mid-term essay (worth 50% of the final mark) and a final exam (worth 50% of the final mark).

The list below provides an indication of some of the main recommended texts for the course, but a full reading list and electronic course pack will be provided to registered students approximately six weeks before the beginning of the programme.

• Douglas J. Elliott and Kai Yan. (2013). The Chinese Financial System: An Introduction and Overview. John L. Thorton China Center Monograph Series Number 6. Washington, DC: Brookings Institute. 
• Song, Zheng and Wei Xiong. (2018). Risks in China’s Financial System. NBER Working Paper No. 24230. Cambridge, MA: National Bureau of Economic Research. 
• Huang, Yukon, and Canyon Bosler. (2014). China’s Debt Dilemma: Deleveraging While Generating Growth. Carnegie Endowment for International Peace.
• Cerutti, Eugenio, Gita Gopinath, and Adil Mohammad. (2019). The Impact of US-China Trade Tensions. IMF Blog.
• Rey, Héléne, 2013, Dilemma not Trilemma: The Global Financial Cycle and Monetary Policy Independence. 
• Blinder, A. and Zandi, M. (2015). The Financial Crisis: Lessons for the Next One. 
• Gita Gopinath (2017, Video): What Have Economists Learned About the International Economy?
• Wenjie Chen, Mico Mrkaic, and Malhar Nabar (2018). Lasting Effects: The Global Economic Recovery 10 Years After the Crisis