Annual Maxwell Fry Global Finance Lecture

Maxwell J. Fry (1944-2000) was a prominent figure around the world in International Finance and his work was widely acclaimed in central banking circles. His contribution was in the fields of international and development (‘global’) finance and this annual lecture is given by an internationally leading academic or policymaker on a topic that reflects Fry’s interests.

Fry received his PhD in Economics at the London School of Economics in 1970 and taught at The City University of London for four years. In 1974 he joined the Department of Economics at the University of Hawaii before leaving to teach at University of California-Irvine in 1980. Shortly after this he accepted an endowed chair as a Professor of International Finance at Birmingham Business School. He passed away prematurely in 2000 and we remember him each year in late October.

2023 Lecture: Charlie Bean

"To QE or not to QE: What have we learned about the usefulness of central bank asset purchases?"

18th October 2023 - 16.00 to 17.00

Birmingham Business School, University House, 116 Edgbaston Park Road Birmingham B15 2TY: G12 Lecture Theatre


Sir Charles Richard Bean is Professor of Economics at the London School of Economics. He was previously a member of the Budget Responsibility Committee of the Office for Budget Responsibility from January 2017 until December 2021; and prior to that Deputy Governor for Monetary Policy at the Bank of England from 1 July 2008 until 30 June 2014.[2] From 2000 to 2008, he served as Chief Economist at the Bank.

He gained his PhD at the Massachusetts Institute of Technology in 1981 with a thesis titled Essays in unemployment and economic activity under the supervision of Robert Solow. He has published articles on European unemployment, the Economic and Monetary Union, and on macroeconomics generally. He was Managing Editor of the Review of Economic Studies from 1986 to 1990. Bean has also served in a variety of public policy roles, such as consultant to Her Majesty's Treasury and as special adviser to both the Treasury Committee of the House of Commons and to the Economic and Monetary Affairs Committee of the European Parliament. He was a special adviser to the House of Lords enquiry into the European Central Bank. He is a fellow of the European Economic Association and a past President of the Royal Economic Society.  He was knighted in the 2014 Birthday Honours for services to monetary policy and central banking.


11:00 Registration and coffee

11:20 – 11:30 Welcome: Paul Mizen (King’s College London and MMF)

11:30 – 13:00 Session 1
Árpád Ábrahám (University of Bristol)

Title TBC
Raffaele Rossi (University of Birmingham)
Taxing Consumption in Unequal Economies
Chair: Chryssi Giannitsarou (University of Cambridge)

13:00 – 14:00 Lunch

14:00 – 15:30 Session 2
Lidia Smitkova (University of Oxford)

Profits, ‘Superstar’ Firms and Capital Flows
Akos Valentinyi (University of Manchester)
New Evidence on Sectoral Labor Productivity: Implications for Industrialization and Development
Chair: Ricardo Reis (LSE)

15:30 – 16:00 Coffee

16:00 – 17:00 Maxwell Fry Lecture by Sir Charles Bean (LSE)
Title: To QE or not to QE: What have we learned about the usefulness of central bank asset purchases?

17:00 – 18:00 Drinks Reception

Past Maxwell Fry Lectures


Year Speaker Title Link
2022 Dame Colette Bowe Building Trust in Macroprudential Policy About
2021 Alec Crystal The Yuan and the Dollar Crisis Paper
2020 Richard G. Anderson Central banking in interesting times and the demand for base money Recording
2019 Marcus Miller A silent run on shadow banks: due to sunspots or chicanery?
2018 Jean-Bernhard Chatelain Leaning Against the Wind
2017 Panicos O. Demetriades Financial Stability and Financial Development: Lessons from a Euro Area Banking Crisis
2016 David Miles The Housing Market and Macro-prudential Policy
2015 David Llewellyn Post Crisis Regulation: what has been achieved and what remains to be done?
2014 Andrew Haldane Managing Global Finance as a System Link
2013 Charles Calomiris  The Political Economy of Inflation-Tax Banking:  Brazil and Mexico in the 19th and 20th Centuries
2012 Thorsten Beck Finance, Growth and Fragility: The Role of Government Link
2011 Michael Foot Can Macro-Prudential Regulation Reduce Financial Instability?
2010 John Williamson The Impact of the Global Financial Crisis on Development Thinking
2009 Stijn Claessens Developing Countries and Financial Crises: What Lessons?
2008 William A. Allen The Credit Crunch, the Financial Industry and the World Economy
2007 Ross Levine Finance and the Poor Link
2006 Marek Belka Transition to Euroland
2005 Gerard Caprio Jr Till Angels Govern: Rethinking Bank Regulation
2004 Charles Goodhart  Some Reflections on Financial Stability
2003 Andrew Crockett Thoughts on the New Financial Architecture
2002 Ronald McKinnon The World Dollar and Emerging Markets
2001 Mervyn King No Money, No Inflation – The Role of Money in the Economy
1999 DeAnne Julius Back to the Future of Low Global Inflation.