CESifo International Spring Conference 2007
Europe´s Prospects in the Face of Slower Global Economic Growth

22 - 23 March 2007, Frankfurt

AUDITORIUM of the Commerzbank AG
Große Gallusstraße 19, 60311 Frankfurt am Main

Conference programme | Programme leaflet (PDF, 243 KB).

Conference report

Conference report
CESifo International Spring Conference 2007
Europe´s Prospects in the Face of Slower Global Economic Growth
22 - 23 March 2007, Frankfurt
Watch the video in the CESifo Group Media Library

Press Conference

22 March 2007, 11:00 CET
Auditorium der Commerzbank AG
Große Gallusstraße 19
60311 Frankfurt am Main

Speakers
Prof. Hans-Werner Sinn, President, Ifo Institute
Dr. Jörg Krämer, Chief Economist and Co-Head of Research, Commerzbank AG

Conference outline

Europe´s Prospects in the Face of Slower Global Economic Growth

The current situation of the global economy is the focus of the presentations:

After the breakdown of the New Economy bubble, central banks eased monetary policy and global liquidity grew
Risk propensity has increased and induced a reduction in the interest rate spread between industrialised and industrialising countries
Recent years have been characterised by few tensions and the absence of financial crises.
Currently a stricter policy is being pursued to contain the risk of inflation.
The high growth of the global economy has been driven by a strong expansion of investment budgets aimed at the industrialisation of emerging economies and the creation of new capacities in exploration, processing and transportation of raw materials. Does this incorporate the risk of a cyclical, global economic downswing perhaps similar to that of the early 1990s?

The first day will provide an overview on the global economy

Special regional contributions will be presented in an initial session:

World
USA
Asia
Europe

The second session will be dedicated to investigating changes in the financial markets and their potential impact on the global economy

Global inequalities and exchange rates
Financial market risk assessment
Patterns in foreign direct investment

The second day will focus on sectoral trends:

The European industries will be analysed in the context of the global environment.

Short-term developments:

An assessment will be made on how slower growth will affect the various sectors. A short-term outlook for 2007 and 2008 will be given. As regards cyclical industries, information will be provided on the current phase in the cycle for the industry under consideration.

Long-term aspects:

An assessment of European industry in international competition is expected, including an evaluation of Europe’s strengths and weaknesses as a location for production and innovation. For certain industries a differentiation between the performance of companies and Europe as a location for production will be made. Other points to be tackled are companies’ strategies, such as FDI policies, the creation of cross-border production networks, etc.

A sectoral framework forecast will be provided by Cambridge Econometrics and Ifo. It will serve as a basis for discussion of different views provided by sectoral experts and to deepen the understanding of drivers for future development.

The industries to be covered include:

Steel
Chemicals
Engineering
Automotive
Textiles

CESifo International Spring Conference 2007 Europe´s Prospects in the Face of Slower Global Economic Growth