2013 AND BEYOND: WORLD ECONOMIC PROSPECTS (III)

ADAM SMITH AND ECONOMIC DEVELOPMENT

IN THE XXIst CENTURY © ( LXIII) :

2013 AND BEYOND:

WORLD ECONOMIC PROSPECTS (III)

PARIS, FRANCE, 12th-13th NOVEMBER, 2013

(At “Le Procope”, a meeting place favoured in the XVIIIth Century by Adam Smith, the Abbot Ferdinando Galiani, David Hume, Quesnay, Turgot and the Physiocrats)

This historical landmark, witness to many fruitful discussions amongst the founders of modern economics, will again provide an inspiring environment for another secluded and high-level meeting (limited to 50 attendees) in which senior policy- makers from across the world will examine and discuss the economy and the prospects of their countries, the challenges they face, and how they intend to address them.

Those responsible for critical policy decisions will thus explain the difficulties and the practical choices they have to secure macroeconomic stability and the proper functioning of the financial institutions, and to deal with an overwhelming concern: how to steer a steady fiscal and monetary policy whilst implementing reforms to ensure they work effectively, taking into account new perceptions of risk and geopolitical realities.

Faithful to a tradition established 21 years ago by Nobel Laureate Wassily Leontief and Lord Peter Bauer, we have endeavoured to keep the conditions that make our Seminars different to all others: above all: intimacy, confidentiality and the conceptual diversity required to promote a civilized contest of conflicting viewpoints.

They are essential to attain the goals of this Seminar:

* to shed new light on current problems;

* to find relevant answers to them; and

* to open new vistas into the future.

YOU will play a critical role in this process.

YOUR QUESTIONS will enrich the discussions and will be welcomed by the policy-makers, who value the practical input of business leaders. Their reaction to them was well summarized already in 1996 by Dr Chris L. Stals, then Governor of the Reserve Bank of South Africa and since 1999 a Member of our Board of Advisers:

“ ... I appreciated the opportunity... to enjoy stimulating discussions on various issues with fellow participants. I view the many questions I had to answer after my presentation as a compliment to the importance, not only

of my country but also of your Seminars”.

A D A M S M I T H S E M I N A R S

Page 4

PROGRAMME

Tuesday 12th November, 2013, 7:30 A.M. - 7:30 P.M.

7 : 30 - 7 : 45 Registration and coffee.

7 : 45 - 8 : 00 Prof. Dr Carlos-Alberto CAMPOS, Chairman and organizer.

8 : 00 - 9 : 00 Dr Daniel G. SULLIVAN, Executive Vice-President and Director of Research, Federal Reserve Bank of Chicago, Adjunct Professor, University of Chicago’s Harris School of Public Policy, U.S.A.

9 : 00 - 10 : 00 Dr György MATOLCSY, Governor, National Bank of HUNGARY/ former Minister of Finance.

COFFEE BREAK

10 : 30 - 11 : 30 Prof. Dr Kamil JANÁČEK, Member of the Board, CZECH National Bank.

11 : 30 - 12 : 30 Mr Ilmars RIMŠEVIČS, Governor, Bank of LATVIA.

LUNCH

14 : 00 - 15 : 00 Mr William CALVO VILLEGAS, Executive Secretary, CENTRAL AMERICAN Monetary Council (which groups the Governors of the Central Banks of GUATEMALA, EL SALVADOR, HONDURAS, NICARAGUA, COSTA RICA and the DOMINICAN REPUBLIC).

15 : 00 - 16 : 00 Mr Anders Bjarne MOE, Director General, Royal Ministry of Petroleum and Energy, Kingdom of NORWAY.

TEA BREAK

16 : 30 - 17 : 30 Lic. Angel GURRÍA, Secretary General, OECD, Paris, FRANCE / former Minister of Finance and Minister of

Foreign Affairs, MEXICO/ Member of the Board of Advisers, Adam Smith Seminars.

17 : 30 - 19 : 30 ADAM SMITH ROUND TABLE ©: “What are the Results and Limits of ‘Quantitative Easing’?”. Chairmen: Dr D.G.

SULLIVAN; Dr G. MATOLCSY; Prof. Dr K. JANÁČEK, Mr I. RIMŠEČS; Mr W. CALVO V.; Mr A. B. MOE; Dr P.

MOUTOT; Dr H.-J. HANSEN; Mr S.L.A. SANUSI and Prof.

Dr C.-A.CAMPOS.

DINNER

A D A M S M I T H S E M I N A R S

Wednesday 13th November, 2013, 7:30 A.M. - 7:30 P.M.

7 : 30 - 7 : 45 Registration and coffee.

7 : 45 - 8 : 00 Prof. Dr Carlos-Alberto CAMPOS, Chairman and organizer.

8 : 00 - 9 : 00 Dr Philippe MOUTOT, Deputy Director General Economics, EUROPEAN Central Bank, Frankfurt-am-Main, GERMANY, Chairman of the Eurosystem’s Group on Forecasting, ECB Representative in the Eurosystem’s Mngmt. Policy Committee

9 : 00 - 10 : 00 Dr Hermann-Josef HANSEN, Head of Macroeconomic Analysis and Projections Division, DEUTSCHE Bundesbank.

COFFEE BREAK

10 : 30 - 11 : 30 Prof. Dr Boris VUJČIĆ, Governor, CROATIAN National Bank.

11 : 30 - 12 : 30 H.E. Mr LEE Sihyung, Ambassador Extraordinary and Plenipotentiary, Permanent Representative of KOREA to the OECD.

LUNCH

14 : 00 - 15 : 00 Prof. Emmanuel TUMUSIIME MUTEBILE, Governor, Bank of UGANDA.

15 : 00 - 16 : 00 Mr Millison NARH, Deputy Governor, Bank of GHANA.

TEA BREAK

16 : 30 - 17 : 30 Mr Sanusi Lamido Aminu SANUSI, Governor, Central Bank of NIGERIA.

17 : 30 – 18: 30 Exmo. Sr Ernesto GOUVEIA GOVE, Governor, Bank of MOZAMBIQUE.

18: 30 - 19 : 30 ADAM SMITH ROUND TABLE © : “What can we Learn from Keynes Today?”. Chairmen: Dr P. MOUTOT; Dr H.-J.

HANSEN; Prof. Dr B. VUIČIĆ; H.E. Mr LEE S.; Prof. E.T.

MUTEBILE; Mr M. NARH; Mr S.L.A. SANUSI; Exmo Sr E.

G. GOVE;Dr D.G. SULLIVAN; Dr G. MATOLCSY;Prof. Dr K. JANÁČEK, Mr W. CALVO VILLEGASand Prof. Dr C.- A. CAMPOS.

A D A M S M I T H S E M I N A R S

Page 6

THE ADAM SMITH SEMINARS ©

Since 1992, this programme, created and directed by Prof. Dr Carlos-Alberto CAMPOS y DEFILIPPI, has endeavoured to bring together leading economic and political actors to examine the world economy in general and the prospects it offers for investments and development in particular.

The meetings, conducted in English, gather three times a year policy-makers from the five continents as speakers and an equally international audience of decision-makers and professional advisers in industry and finance. The aim is to provide a comprehensive scrutiny of the economy under examination and bring to the fore all aspects of the issues relevant to the audience.

Both the limited size of the audience and the intimate setting are designed to foster personal contact, interaction and discussion.

Free and open debate are further encouraged by the programme's independence of any private, public or political group, a refusal to engage in any commercial or political promotion, and an "off-the-record"

rule observed during the discussions, which are closed to the media.

STRUCTURE

Each speaker is allotted approximately 60 minutes divided into two segments: the first one for a presentation and the second one for questions and answers. The participants’ questions play a vital role in this process and in the ADAM SMITH ROUND TABLE ©, which at the end of each day complements the discussion.

Personal discussion is further promoted by the unrestricted access to the policy makers afforded by the Seminars’ small table lunches and dinners, and a unique 4/1 ratio between the audience and speakers.

PARTICIPANTS’ COMMENTS

Because the Adam Smith Seminars© are financed exclusively by their participants and meant to serve only them exclusively,we endeavour to provide the attendees with an experience similar to that enjoyed by Mr Steve Baseby, of Thames Water, who felt that:

“... a wealth of information was made available, and more importantly one gained insight into the thinking of the individuals involved in formulating and executing economic policy. This process was assisted by the ‘off record’ environment not readily achievable at a gathering of the nature of the Davos

assembly.”

Mrs Jill Leyland, Economic Adviser to the World Gold Council, said that she had greatly enjoyed the Seminar “... and not just for the gold aspects but also for what I learnt about global economic developments and the opportunity to discuss relevant issues with such stimulant group of people.”

Mr Daniel Rudolph, Director, Financial Services, Bunge Agribusiness, White Plains, NY, U.S.A., pointed out to the benefits derived from “these meetings which had a very positive impact in our business over the many years I am participating.”

Mr Peter Prevaes, Director of Corporate Strategy, KPN, The Hague, The Netherlands, believes the Seminar “provides an exceptional value for money and a pleasant experience at the same time.”

BOARD OF ADVISERS

Dr Chris L. Stals, former Governor, Reserve Bank of South Africa, Lic. Ángel Gurría, former Minister of Finance and Minister of Foreign Affairs, Mexico, currently Secretary General, OECD, Paris; Prof. Dr Georg Rich, former Director of Economics, Swiss National Bank; Dr Warren A.M. Clewlow, former Chairman, Barloworld and Nedbank, Johannesburg, and Deputy Chairman, Old Mutual, Cape Town and London, sugar estates owner/manager, Natal; Dr Claudio Loser, former Director of the Western Hemisphere, IMF, Washington; Mr Masayuki Matsushima, former Exec. Director, Bank of Japan, currently Chairman, Credit-Suisse, Japan; Dr Hanna Gronkiewicz-Waltz, former Governor, National Bank of Poland, Member of Parliament, currently Mayor of Warsaw; H.E. Dr M. Caramuro de Paiva, Ambassador of Brazil; H.E. Dr B. Shetty, Ambassador of India; Mr Pakorn Malakul na Ayudha, former Deputy Governor, Bank of Thailand and Chairman Export-Import Bank of Thailand, Chairman, Thai Insurance Corp. and Thai Petrochemical Corp.; Mrs Eva Srejber, former First Vice-Chairman, Sveriges Riksbank and V.P. EIB, Luxembourg, currently Member of the Board, EBRD, London, U.K.; and Mr Jens Thomsen, former Governor, Bank of Denmark.

A D A M S M I T H S E M I N A R S

TIME, DATES and VENUE

This seminar will be held on Tuesday 12th and Wednesday 13th November, 2013, from 7:30 to 19:30, at «Le Procope», a 300-year-old historical landmark, which in the XVIIIth Century was a favoured meeting place of Adam Smith, the Abbot Ferdinando Galiani, David Hume, François Quesnay, Turgot and the Physiocrats. «Le Procope» is located at the heart of the Latin Quarter, the loveliest and most charming district of Paris, at 50 yards from the Carrefour de L’Odéon and the Boulevard St Germain. Address: 13, rue de l’Ancienne Comédie, 75006 Paris. Tel.: +(33) (1) 40.46.79.00 / Fax: +(33) (1) 40.46.79.09.

REGISTRATION

Registration is LIMITED to 50 ATTENDEES, becomes effective only after the payment of the fees, and WILL CLOSE upon reaching the limit or NOVEMBER 1, 2013, WHICHEVER COMES FIRST.

To guarantee your participation please complete your registration form and return it to us along with the full registration fee. Payment is due at the time of registration. Forms received without payment will be confirmed on a space-available basis when payment is received. All fees are payable in Euros (or equivalent in Swiss Francs, U.S. Dollars or Pounds Sterling).

INSTITUTIONAL REGISTRATION

Two people from the same institution may be SIMULTANEOUSLY REGISTERED to attend on different days, according to their availability and specific interests. Substitutions are possible any time, requiring only a written notification.

NON-MEMBERS FEES

‡ ONE DAY : € 1,800 ‡ TWO DAYS : € 2,950

‡ Fee covers : seminar papers, lunches, refreshments and dinner on 12/11/2013.

‡ Fee does not cover: travel or accommodation.

CANCELLATION POLICY

Cancellations must be received in writing BEFORE Friday November 1, 2013 and will be subject to a 20% cancellation fee. After this date, the full registration fee will apply.

Substitutions, however, will be acceptable at any time.

REGISTRATIONS and ENQUIRIES

For registration please fill the attached REGISTRATION FORM and return to:

Prof. Dr Carlos-Alberto CAMPOS, Director, ADAM SMITH SEMINARS, Domaine de la Bastide, 1, Bd. de Suède, 06230 VILLEFRANCHE-SUR-MER, FRANCE.

Tel.: + (33) (4) 93.01.41.16 / Fax: + (33) (4) 93.01.38.80.

E-Mail: adamsmith_seminars@yahoo.fr

All enquiries should be made to the same address.

A C C O M MO D A T I O N

We can offer to the registered delegates accomodation at preferential rates.

A D A M S M I T H S E M I N A R S

Page 8

ADAM SMITH SEMINARS ©

R E G I S T R A T I O N F O R M

“2013 and BEYOND: WORLD ECONOMIC PROSPECTS” (III) Name______________________________________________________________________

Position____________________________________________________________________

Company___________________________________________________________________

Address____________________________________________________________________

____________________________________ Postal Code___________________________

City________________________________ Country______________________________

Tel.: ____________________________ ___ Fax:_________________________________

November 12____________________ ____ November 13_________________________

Please send Hotel Reservation Form_____

Signature_____________________________ Date:_________________________________

Enclosed is my cheque for € 2,950 ( 2 Days ) or € 1,800 ( 1 Day) (or evidence of payment by direct bank transfer) to the order of :

Prof. C.-A. CAMPOS - ADAM SMITH SEMINARS

The participation fee includes the documentation, lunches, refreshments and dinner on 12/11.

Registration becomes effective only after the payment of the fee and will close upon REACHING THE NUMERUS CLAUSUS or November 1, 2013, whichever comes first.

Please return to :

Prof. C.-A. CAMPOS, Director, ADAM SMITH SEMINARS,

Domaine de la Bastide,1 Bd. de Suède, 06230 VILLEFRANCHE-SUR-MER, FRANCE.

Fax : + (33) (4) 93 01 38 80

E-Mail: adamsmith_seminars@yahoo.fr

H S E M I N A R S A D A M S M I T H S E M I N A R S