Hubert Fromlet: Executives need macroeconomic skills
08 Jun 2009 | Posted By: JIBS Stories
Economic research needs to focus more on globalization and its implications on the corporate sector. The corporate sector, on the other hand, must apply macroeconomic trends more consequently, particularly on the executive level. Financial institutions should organize their economics department directly under the executive board in order to improve and accelerate mutual exchange of macroeconomic and macrofinancial issues.
The implementation of more or less most all economic research in capital market departments during the past decade or so with emphasis on short-term analysis must be regarded as a major strategic failure. Bank executives need also continuous information more on economic trend developments and financial macroeconomics. This was certainly many times not the case before the eruption of the global crisis. In my opinion, this whole issue should be regarded as a matter of corporate governance.
More about this topic can be read in my article from June 4 in the Swedish daily financial paper Dagens Industri.
Hubert Fromlet’s blog (mainly in Swedish)
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