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Lost Generations? Globalisation and the Left-Behinds of Tomorrow

Tuesday 4 June 2019 - Location: The British Academy
Discussions begin 18:00 prompt. Expected end 19:30. Doors at 17:30.

CEP, CEPR and the British Academy host a policy panel, chaired by Dame Minouche Shafik (LSE Director), focusing on globalisation, populism and work.

Panellists: Professor Elhanan Helpman (Harvard University and CEPR) Professor Stephen Machin (Centre for Economic Performance and CEPR) Marion Jansen (International Trade Centre ITC) Professor Beata Javorcik (University of Oxford and CEPR)

This event is open to invited guests only. For more information please contact cep.events@lse.ac.uk.


Recent political developments have tested the stability of the world trading system. Many commentators have suggested that the current political upsets are a populist backlash against the status quo of the international economic system by those who feel left behind by the recent wave of globalisation. Economists agree that the decline of left behind regions, like manufacturing cities and sea-side towns, had less to do with offshoring to low wage countries. They were much more a result of technological changes that have largely benefited educated mobile workers. But the fact remains that there are many communities whose suffering was intensified by the concurrent rise in globalisation. Policies to regenerate these areas and to re-skill their workers have not had much success. Empirical research in the last couple of decades has made much progress in understanding the processes of displacement and the challenges to re-employment.


About the panellists:

Dame Minouche Shafik is an economist by training, Minouche has spent most of her career straddling the worlds of public policy and academia. After completing her BSc in economics and politics at the University of Massachusetts in Amherst, she took an MSc in economics at LSE before completing a DPhil in economics at St Antony's College, University of Oxford. She was appointed Director of LSE in September 2017. During her extensive career, Minouche has worked in senior positions at the World Bank, the Department for International Development and the IMF before becoming Deputy Governor of the Bank of England in 2014.

Professor Elhanan Helpman is the Galen L. Stone Professor of International Trade at Harvard University and a Fellow of the Canadian Institute for Advanced Research. Helpman is a cofounder of the "new trade theory" and the "new growth theory," which emphasize the roles of economies of scale and imperfect competition. Much of his work in trade, growth, and political economy is summarised in eight books: Market Structure and Foreign Trade (with Paul Krugman), Trade Policy and Market Structure (with Paul Krugman), Innovation and Growth in the Global Economy (with Gene Grossman), Special Interest Politics (with Gene Grossman), Interest Groups and Trade Policy (with Gene Grossman), The Mystery of Economic Growth, Understanding Global Trade, and Globalisation and Inequality.

Professor Stephen Machin is Professor of Economics and Director of the Centre for Economic Performance at the London School of Economics. Previously he was Professor of Economics at University College London and has been visiting Professor at Harvard University and the Massachusetts Institute of Technology. He is a Fellow of the British Academy, has been President of the European Association of Labour Economists, is a Fellow of the Society of Labour Economists and was a member of the UK Low Pay Commission from 2007-13. His current research interests include labour market inequality, education and crime, and the interactions between them.

Marion Jansen is the Chief Economist and Director of the Division of Market Development at the International Trade Centre (ITC), where she is responsible for the annual SME Competitiveness Outlook and has the lead on ITC’s contributions to G20 processes. She previously held appointments as counsellor in the World Trade Organization (2012-2014; 1999-2009) and as Head of the Trade and Employment Programme in the International Labour Organization (ILO; 2009-2012). She worked in the private sector (economics consulting) before joining the WTO.

Beata Javorcik is Professor of Economics at the University of Oxford and a Fellow of All Souls College. She is also Programme Director of International Trade and Regional Economics at the Centre for Economic Policy Research in London. Prior to coming to Oxford, she worked at the World Bank in Washington DC where she was involved in research activities, lending operations and provision of policy advice to developing countries in Central and Eastern Europe, Latin America and Asia. As of September 2019, she will become Chief Economist of the European Bank for Reconstruction and Development.