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Howard Davies

Howard Davies

Writing for PS since 2009
89 commentaries

Howard Davies, the first chairman of the United Kingdom’s Financial Services Authority (1997-2003), is Chairman of NatWest Group. He was Director of the London School of Economics (2003-11) and served as Deputy Governor of the Bank of England and Director-General of the Confederation of British Industry.

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  1. Is Private Credit Becoming the Public’s Problem?
    davies90_ANDREW CABALLERO-REYNOLDSAFP via Getty Images_garygensler Andrew Caballero-Reynolds/AFP via Getty Images

    Is Private Credit Becoming the Public’s Problem?

    Jun 19, 2024 Howard Davies considers whether, and in what manner, regulators should respond to the industry's explosive growth.

  2. Are Global Capital Rules Possible?
    davies89_Liu JieXinhua via Getty Images_michaelbarr Liu Jie/Xinhua via Getty Images

    Are Global Capital Rules Possible?

    Mar 29, 2024 Howard Davies thinks major Western jurisdictions' institutional differences could sink standardization efforts.

  3. Where It Pays to Be a Banker
    davies88_Michael M. SantiagoGetty Images_jpmorgan Michael M. Santiago/Getty Images

    Where It Pays to Be a Banker

    Jan 5, 2024 Howard Davies maps the growing divergence of tax and regulatory policies in America, Europe, and the United Kingdom.

  4. We Need to Talk About Bank Supervision
    davies87_Justin SullivanGetty Images_svb Justin Sullivan/Getty Images

    We Need to Talk About Bank Supervision

    Sep 22, 2023 Howard Davies thinks the renewed debate over commercial bank capital requirements largely misses the point.

  5. Buffer Madness
    davies86_SérgioGarciaYourImage forECB_gopinath Sérgio Garcia/Your Image for ECB

    Buffer Madness

    Jul 14, 2023 Howard Davies questions the merits of increasing banks' capital as a way to ensure financial stability.

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  1. zuckermarques2_Alet PretoriusGallo Images via Getty Images_africadebtprotest Alet Pretorius/Gallo Images via Getty Images

    The World Needs Bigger and Better Financial Firefighters

    Marina Zucker-Marques & Kevin P. Gallagher call for reforms to make the IMF and the World Bank larger, more equitable, and less focused on austerity.
  2. skidelsky205_ BEN STANSALLAFP via Getty Images_starmer BEN STANSALL/AFP via Getty Images

    Britain’s Illusory Fiscal Black Hole

    Robert Skidelsky makes the case that policymakers should focus on stimulating economic growth rather than on budget cuts.
  3. mena2_Pallava BaglaCorbis via Getty Images_methane Pallava Bagla/Corbis via Getty Images

    The Need for Methane Targets

    Marcelo Mena & Sarah Ann Smith urge China and the United States to take the lead in committing to cut emissions from super pollutants.
  4. goldberg31_Caitlin O'Hara for The Washington Post via Getty Images_TSMCarizona Caitlin O'Hara for The Washington Post via Getty Images

    What a Successful Industrial Policy Needs

    Pinelopi Koujianou Goldberg

    New research on the importance of cross-border knowledge and technology spillovers suggests that government support alone cannot guarantee success in an industry. That is why Taiwan and South Korea's semiconductor industrial policies succeeded, while China's has not.

    demonstrates that while subsidies can help, knowledge and technology transfers are crucial.
  5. zhang68_Jiang QimingChina News ServiceVCG via Getty Images_PBOC Jiang Qiming/China News Service/VCG via Getty Images

    China’s Commitment to Constant Adaptation and Structural Transformation

    Zhang Jun explains why the government insists on combining efforts to expand domestic demand with supply-side reforms.
  6. ayers1_Indranil AdityaNurPhoto via Getty Images_indiaheatwavewoman Indranil Aditya/NurPhoto via Getty Images

    Helping Women Adapt to Extreme Heat Helps Us All

    Jess Ayers & Helen Mountford urge the public and private sectors to work together to scale up innovations such as heat-wave insurance.
  7. afrasmussen20_YASUYOSHI CHIBAAFP via Getty Images_ukrainesoldier Yasuyoshi Chiba/AFP via Getty Images

    Achieving Peace Through Strength in Ukraine

    Anders Fogh Rasmussen & Andriy Yermak

    To secure a lasting peace, Ukraine’s allies must make Vladimir Putin understand that he cannot dictate the terms. Guaranteeing Ukraine’s security will require increased military support, a clear path to NATO membership, and international support for President Volodymyr Zelensky’s peace plan.

    outline steps that global leaders can take to ensure a Ukrainian victory and deter future Russian aggression.
  8. zadek30_Jonas GratzerLightRocket via Getty Images_bioplastic Jonas Gratzer/LightRocket via Getty Images

    Only a Sustainable Bioeconomy Can Save Us

    Simon Zadek argues that investing in biodiversity while the global economy continues to over-exploit resources is futile.
  9. stiglitz341_Celal GunesAnadolu Agency via Getty Images_IMF Celal Gunes/Anadolu Agency via Getty Images

    The IMF Must End Its Destructive Surcharges

    Joseph E. Stiglitz, et al. decry the counterproductive practice of imposing additional fees on countries in debt distress.

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