In the dynamic area of global growth, private sector leaders, governments and non-profits frequently converge on questions related to private investment and public policy. As the line blurs between historically public sector and private sector challenges, how can parties collaborate to drive local and global economic growth and development, with a keen eye toward social good?

We will explore the opportunities and challenges of public-private partnerships and sustainable impact investing. Participants will hear from policy-makers and private sector leaders on how innovative partnerships will enable long-term economic growth.

Prospects for Policies to Spur Economic Growth

Session 1 / 11:00 am - 12:30 pm

A return to robust economic growth has been elusive following the global financial crisis. Advanced economies seem stagnant and emerging economies are volatile. Can good policy make a difference? If so, can our leaders execute those policies?

Location:

Ryan Center for the Musical Arts

Speakers

Jan Eberly James R. and Helen D. Russell Professor of Finance /Faculty Director, Kellogg Public-Private Initiative

Jan Eberly served as the Assistant Secretary for Economic Policy at the U.S. Treasury from 2011 to 2013 after being confirmed by the U.S. Senate. In that capacity she was the Chief Economist at the Treasury, leading the Office of Economic Policy in analysis of the U.S. and global economies and financial markets and development of policy recommendations on micro and macroeconomic issues. Eberly's research focuses on finance and macroeconomics. Her work studies firms' capital budgeting decisions and household consumption and portfolio choice. She also examines the interaction of these spending and investment choices with the macroeconomy.

Markets, Value and Growth Prospects for Policies to Spur Economic Growth

11:00 a.m. Ryan Center for the Musical Arts

Doug Elmendorf Visiting Fellow / Brookings Institution

Doug Elmendorf was the eighth Director of the Congressional Budget Office. He previously was a senior economist at the White House's Council of Economic Advisers, a deputy assistant secretary at the Treasury Department, an assistant director at the Federal Reserve Board, and a senior fellow and the Edward M. Bernstein Scholar at the Brookings Institution. In these positions, he worked on budget policy, health care issues, the macroeconomic effects of fiscal policy, Social Security, Medicare, financial markets, and macroeconomic analysis and forecasting. Elmendorf will begin as dean of Harvard’s John F. Kennedy School of Government in January 2016.

Markets, Value and Growth Prospects for Policies to Spur Economic Growth

11:00 a.m. Ryan Center for the Musical Arts

David Wessel Director / The Hutchins Center on Fiscal and Monetary Policy

David Wessel is director of the Hutchins Center on Fiscal and Monetary Policy, which provides independent, non-partisan analysis of fiscal and monetary policy issues in order to further public understanding and to improve the quality and effectiveness of those policies. He joined Brookings after 30 years on the staff of The Wall Street Journal where, most recently, he was economics editor and wrote the weekly Capital column. David is the author of two New York Times best-sellers and has shared two Pulitzer Prizes.

Markets, Value and Growth Prospects for Policies to Spur Economic Growth

11:00 a.m. Ryan Center for the Musical Arts

Growth of Impact Investing

Session 2 / 1:30 pm - 3:00 pm

The industry is at an inflection point, transitioning from socially motivated individual investors and niche impact fund managers to more mainstream institutional investors and large scale asset managers. What are the forces behind this evolution? Where is the capital coming from today, and how is it being invested? Who are the major players shaping the sector? Can impact investing lead to a more sustainable growth model for our economy? And what does the future hold for those interested in getting involved?

Location:

Ryan Center for the Musical Arts

Speakers

David Chen '84 Adjunct Lecturer of Finance / Kellogg School of Management

David Chen specializes on sustainability and finance. His focus on sustainability is a result of his work in venture capital, regional economic development and energy policy. In 2007, as a visiting executive at the Meyer Memorial Trust, he developed an investing thesis on mission related investing (MRI) that has since been adopted by several institutions. In late 2007, he formed Equilibrium Capital Group, an investment firm focused on growth equity investment opportunities in the area of sustainability. Chen is co-owner of Patton Valley Vineyards, committed to making the finest Oregon Pinot Noir based on sustainable vineyard farming practices.

Markets, Value and Growth Growth of Impact Investing

1:30 p.m. Ryan Center for the Musical Arts

Paul Christensen Clinical Professor of Finance / Kellogg School of Management

Paul Christensen teaches courses in microfinance and international business. In addition, he serves as Academic Director for Kellogg's Global Study Programs, enabling MBA students to explore international business and markets through global immersion experiences. Prior to Kellogg, Christensen was the founder and President of ShoreCap International Ltd., a $28 million private equity company, based in London, which invests in financial institutions in developing countries throughout Africa, Asia and Eastern Europe. From 2000-2003, he served as President and CEO of ShoreBank Enterprise Group, a $12 million non-profit community economic development organization in Cleveland, Ohio.

Markets, Value and Growth Growth of Impact Investing

1:30 p.m. Ryan Center for the Musical Arts

Hilary Irby Managing Director, Sustainable Finance / Morgan Stanley

Hilary Irby is a Managing Director in Morgan Stanley’s Global Sustainable Finance group, where she serves as Head of the Morgan Stanley Investing with Impact Initiative.  Hilary focuses on the development of financial products and solutions providing financial returns as well as positive environmental or social impact. Prior to Morgan Stanley, Hilary was Operating Partner at JVP, a leading Israeli venture capital fund with over $900 million under management. Hilary holds a Masters in Industrial and Organizational Psychology from Rensselaer Polytechnic Institute and a B.S. from St. Lawrence University.

Markets, Value and Growth Growth of Impact Investing

1:30 p.m. Ryan Center for the Musical Arts

Liz Michaels Chief of Staff and Director ESG/SRI / Aperio Group

Liz Michaels is Aperio Group's Chief of Staff and Director of ESG/SRI. Prior to joining Aperio, Liz was responsible for the $11 billion defined contribution managed accounts business at Ibbotson Associates, a wholly owned subsidiary of Morningstar, Inc. Earlier in her career, she was the Chief Operating Officer of Morningstar, Inc. and served on the company's executive committee. Liz was also the President of Jellyvision, Inc., an interactive firm best known for its game You Don't Know Jack™and Associate Dean/Director of the Career Advising and Planning Services office at the University of Chicago. Liz has a BA in Economics and an MBA from the University of Chicago.

Markets, Value and Growth Growth of Impact Investing

1:30 p.m. Ryan Center for the Musical Arts

Infrastructure for the 22nd century: Can public investment keep up with private sector growth?

Session 3 / 3:30 pm - 5:00 pm

This session explores how local and national governments will meet the infrastructure needs to support economic growth over the next 80-85 years. What are the most significant infrastructure challenges faced by local and national governments? How has technology changed the nature of these challenges? Can these challenges be met solely through the traditional public model, or is significant private sector participation required? These questions, and more, will be addressed.

Location:

Ryan Center for the Musical Arts

Speakers

David Besanko Alvin J. Huss Professor of Strategy / Kellogg School of Management

David Besanko teaches courses in Microeconomics and Competitive Strategy. His research covers topics relating to industry dynamics, competitive strategy, industrial organization, the theory of the firm, and economics of regulation. He has received grants from the National Science Foundation and from the Citicorp Behavioral Science Research Council to support this research. He is a co-author of Economics of Strategy, a widely used textbook in MBA courses on strategic management and competitive strategy. His textbook Microeconomics, with Ron Braeutigam, is now in its fifth edition.