| Stephen S. Roach | |
|---|---|
| Education | Economics |
| Alma mater | University of Wisconsin–Madison New York University |
| Occupation | Chairman of Morgan Stanley Asia |
| Employer | Morgan Stanley |
Stephen S. Roach is a senior executive with Morgan Stanley, the New York-based investment bank. In addition to his position at Morgan Stanley, Roach is a lecturer at Yale University's School of Management and Jackson Institute for Global Affairs.
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Stephen S. Roach holds a Ph.D. in economics from New York University and a Bachelor's degree in economics from the University of Wisconsin–Madison.
After earning his Ph.D., Roach was a research fellow at the Brookings Institution in Washington, D.C. From 1972 until 1979, Roach served on the research staff of the Federal Reserve Board in Washington, D.C., where he supervised the preparation of the official Federal Reserve projections of the U.S. economy. From 1979 until joining Morgan Stanley, Roach was Vice President for Economic Analysis for the Morgan Guaranty Trust Company in New York.
Roach has been with Morgan Stanley since 1982, and has been the investment bank's chief economist since 1991 and has served as head of the firm's global team of economists in New York, London, Tokyo, Hong Kong, Singapore, and Paris.
Global labor arbitrage, a phenomenon described by economist Stephen S. Roach, where one country exploits the cheap labor of another, would be a case of absolute advantage that is not mutually beneficial.[1][2][3][4]
Roach has made political cash donations to only Democratic Party candidates, including presidential hopefuls Hillary Clinton and Senator John Kerry.[5]