GSS Preparatory Meeting on October 29 2013 – Report on Working Group Session on Financial Systems

Suggested Dates for third GSS conference: October-November.

Topics touched upon in the discussion that the group thought should be covered in the next conference:
– financial networks, resilience against shocks, contagion etc. in the presence of complex instruments such as derivatives, collateralization, etc.
– climate-finance
– climate change impact on macro
– linkage finance – real economy and
– societal role / social function of financial system
– shaping a socially useful financial system
– finance is about assets and actors do not matter. this community is moving towards a view in which actors are central and not the assets. influence of actors.
– crowdsourcing
– actors, interests, values, stakeholders
– banks: how are they taking care of risk in the years to come?  linkage to integrative risk management working group.
– short-term versus long term. E.g. Pension funds: do the instruments they use really serve the social purpose
– international financial system political economy side

The above topics can be grouped in the following 5 areas that the group suggests as topics for the Sessions in the next conference.
1 financial networks and financial innovations and resilience
2. linkage climate change, sustainability – finance,  climate change impact on macro
3. linkage finance – real economy – shaping a socially useful financial system
4. actors, interests and values in the financial system
5. reforming the international financial system: political economy