"Great Transformations: East and West" [antikvár]

GYÖRGY MATOLCSY Governor Magyar Nemzeti Bank Foreword Five years represent a short period in international history, but being equivalent to half a decade, this is an anniversary of an important milestone in our fast-changing world. We are proud of the fact that the Magyar Nemzeti Bank has already organized the Lamfalussy Lectures Conference for the fifth time in February 2018 and by now we have managed to establish a tradition that attracts the attention of the world's professional community. Our annual conferences provide an excellent opportunity for leading central bankers and academic researchers to discuss current global macroeconomic and financial developments and to share their views on expected future trends. The theme of this year's conference was the Great Transformation, which we have been witnessing all around the world in recent years. There is an ongoing transformation both within and between East and West, within the European Union, and within our region - the Visegrád countries of Central Europe - as well. This quick and worldwide transformation definitely represents a new wave of globalization, which is faster, deeper and unique compared to earlier changes of the nineteenth and twentieth centuries. We live in a new global age both at the individual and the country level and we are facing a brand new future in many respects: in terms of the structure of our economies and financial sectors, as regards information availability, and also in the abundance of technological advancements. The distinguished speakers of the fifth Lamfalussy Lectures Conference provided us with an excellent overview of transformations united by new technologies, information and new geopolitics that have significant impact on all aspects of the global economic system. Among global economic trends, the increasing prominence of Eastern economies and, as a consequence, the emergence of a multipolar world economy merits special attention. According to the World Bank's projections, about half of the global output growth between 2017-2019 will be produced in Asia, while the contribution of Western economies - and especially that of the European Union - to total output growth remains