- Mid-career level participants with at least five years of relevant work experience in emerging economies
- Relevant undergraduate degree in economics or finance with proficient quantitative skills. A graduate degree is also a plus
- Ability to speak, read and write fluently in English
- Passionate about local capital-market development in emerging economies
- Nomination and financial support from home governments/current employers (in both public and private sectors) recommended
- English language tests (TOEFL or IELTS required of all candidates who do not hold a university degree from an academic institution in the U.S. or UK; please make sure you register for the test sufficiently in advance, and take the test ahead of applying for the program). Please refer to this page for more information.
- 2-3 letters of reference from current/previous employers and/or professors
- Statement of Purpose (maximum 500 words)
- Analytical Essay—please choose one of the questions below (maximum 800 words). When completing your online application, please include this essay in the same document as your statement of purpose and upload them together.
- Question 1: You are an advisor to the Minister of Finance. Write a memo advocating one or two policy options to advance capital-market development in your country. Your Minister will be looking for an honest treatment of the issues and a concise, persuasive argument.
- Question 2: Financial openness to global capital flows: what are the risks and opportunities seen from your country's perspective, and how would different stakeholders be affected?
- Question 3: Some claim that capital-market development requires economies of scale and that smaller economies, regional integration is the only way to develop deep, liquid and efficient capital markets. Others claim that regional integration is not feasible due to difficulties of policy coordination and politics, and can moreover lead to unevenly shared gains and financial market instability in the region. What is your view? Please discuss.
- Academic transcripts from all past universities
- Resume/CV (including education and employment history)
- Applications for the 2017 cohort are now open (under "Certificate Programs," please select "Capital Markets")