Stephen Samuel Roach (born September 16, 1945) is an American economist. He serves as senior fellow at

Yale University Yale University is a private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the third-oldest institution of higher education in the United States and among the most prestigious in the wo ...

’s

Jackson Institute for Global Affairs The Yale Jackson School of Global Affairs (formerly the Yale University Jackson Institute for Global Affairs) is a professional school of Yale University that specializes in global affairs. Based in New Haven, Connecticut, the school's mission ...

, and a senior lecturer at the

Yale School of Management The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University, a private research university in New Haven, Connecticut. The school awards the Master of Business Administration (MBA), MBA for Executives ...

. He was formerly chairman of Morgan Stanley Asia, and chief economist at

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

, the New York City-based

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

. In 2009,

Dirk Bezemer Dirk Bezemer (born 1971) is a Dutch economist who is a professor at the Faculty of Economics and Business of the Rijksuniversiteit Groningen. He studied at Wageningen University (M.Sc. in Economics (1995)) and University of Amsterdam & Tinbergen I ...

, a Professor of Economics at the

University of Groningen The University of Groningen (abbreviated as UG; nl, Rijksuniversiteit Groningen, abbreviated as RUG) is a Public university#Continental Europe, public research university of more than 30,000 students in the city of Groningen (city), Groningen in ...

in the Netherlands, noted that Roach was one of the earliest to have predicted the

2008 global financial crisis 8 (eight) is the natural number following 7 and preceding 9. In mathematics 8 is: * a composite number, its proper divisors being , , and . It is twice 4 or four times 2. * a power of two, being 2 (two cubed), and is the first number of t ...

Career

Roach holds a

PhD PHD or PhD may refer to: * Doctor of Philosophy (PhD), an academic qualification Entertainment * '' PhD: Phantasy Degree'', a Korean comic series * ''Piled Higher and Deeper'', a web comic * Ph.D. (band), a 1980s British group ** Ph.D. (Ph.D. albu ...

in economics from

New York University New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin. In 1832, the ...

, and a bachelor's degree in economics from the

University of Wisconsin–Madison A university () is an educational institution, institution of higher education, higher (or Tertiary education, tertiary) education and research which awards academic degrees in several Discipline (academia), academic disciplines. Universities ty ...

('68). After earning his PhD, Roach was a research fellow at the

Brookings Institution The Brookings Institution, often stylized as simply Brookings, is an American research group founded in 1916. Located on Think Tank Row in Washington, D.C., the organization conducts research and education in the social sciences, primarily in ec ...

in Washington, D.C. Roach served as staff economist of the

Federal Reserve Board The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the mon ...

in Washington, D.C. from 1972 until 1979, supervising the preparation of the official Federal Reserve projections of the U.S. economy. From 1979 until joining

in 1982, Roach was Vice President for Economic Analysis for the

Morgan Guaranty Trust Company J.P. Morgan & Co. is a commercial and investment banking institution founded by J. P. Morgan in 1871. Through a series of mergers and acquisitions, the company is now a subsidiary of JPMorgan Chase, one of the largest banking institutions in th ...

in New York. Roach was with Morgan Stanley for 30-plus years. He was the investment bank's chief

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

Stephen Roach
Yale School of Management web bio. Retrieved 2013-03-27. since 1982, serving as head of the firm's global team of economists in New York, London, Tokyo, Hong Kong, Singapore, and Paris. From 2007-10 he was Chairman, Morgan Stanley Asia, from 2010-12 he was Non-Executive Chairman, Morgan Stanley Asia, and since mid-2010 he has been a Senior Fellow,

. In 2009,

, a Professor of Economics at the

in the Netherlands, noted that Roach was one of the earliest to have predicted the

.Quoted in Abstracted a
https://mpra.ub.uni-muenchen.de/15892/
He also writes monthly columns for international media organization

Project Syndicate Project Syndicate is an international media organization that publishes and syndicates commentary and analysis on a variety of global topics. All opinion pieces are published on the ''Project Syndicate'' website, but are also distributed to a wi ...

. Roach and his wife live in New Canaan, Connecticut.

Books

* Roach, Stephen, ''Accidental Conflict: America, China, and the Clash of False Narratives'', (

Yale University Press Yale University Press is the university press of Yale University. It was founded in 1908 by George Parmly Day, and became an official department of Yale University in 1961, but it remains financially and operationally autonomous. , Yale Universi ...

2022) ISBN 978-0300259643 * Roach, Stephen, ''Unbalanced: The Codependency of America and China'' (2014) * Roach, Stephen, ''The Next Asia: Opportunities and Challenges for a New Globalization'', (Wiley 2009)

References

External links

Column archive
at

Column archive
at '' The Globalist''
Column archive
at ''

Aljazeera Al Jazeera ( ar, الجزيرة, translit-std=DIN, translit=al-jazīrah, , "The Island") is a state-owned Arabic-language international radio and TV broadcaster of Qatar. It is based in Doha and operated by the media conglomerate Al Jazeera ...

'' * * * *
Video of Stephen Roach discussing 'The Next Asia'
at the

Asia Society The Asia Society is a non-profit organization that focuses on educating the world about Asia. It has several centers in the United States (Manhattan, Washington, D.C., Houston, Los Angeles, and San Francisco) and around the world (Hong Kong, Man ...

in New York, September 30, 2009 * {{DEFAULTSORT:Roach, Stephen S. 1945 births 20th-century American economists 21st-century American economists Brookings Institution people Economists from Connecticut Federal Reserve economists Living people Morgan Stanley people New York University alumni People from New Canaan, Connecticut University of Wisconsin–Madison College of Letters and Science alumni Yale School of Management faculty Yale University fellows