Nobel Prize Robert Engle delivers lecture at the FGV/EPGE about financial crises
In the context of its 50th birthday, the Getulio Vargas Foundation Graduate School of Economics (FGV/EPGE) received on 31 August the visit of the Nobel Prize in Economics and Professor of New York University, Robert Engle for a lecture about one of his most current topics of study: "How to avoid the next financial crisis?”.
In his brilliant speech, the economist presented a model developed by his team from "Volatility Institute", affiliated to the New York University, to measure the systemic risk of financial institutions. When asked by the press, Engle said he wasn’t deeply acquainted with Brazilian economy, of which he is only an "interested observer". He considers that the country is one of the "miracles" of the last decade, in terms of growth, which doesn’t mean it is immune to risks. "The biggest concern is that this is happening too fast, and that the infrastructure and institutions might not be able to follow the pace."
Coordinating the event, the Dean of FGV/EPGE, Professor Rubens Penha Cysne, pointed out the more conservative regulation of the financial market in Brazil as a lesson from the period of combat to inflation, but also drew attention to current problems related to the increasing governmental control over credit.
More than 200 people attended, including members of the governing body and from the different units of FGV, market professionals, students and journalists.
See below an interview with Professor Engle for GloboNews.