Megumi Kubota is an Economist and works at the World Bank. Her field of specialization is Open Macroeconomy Macroeconomics including issues on capital flows and exchange rates. She has published “Sudden Stop: Are Global and Local Investors Alike?" and “Does Higher Openness Cause More Real Exchange Rate Volatility?” in the Journal of International Economics and “Ride the Wild Surf: An investigation of the drivers of surges in capital inflows” in the Journal of International Money and Finance. Her paper, “Does Financial Openness Lead to Deeper Domestic Financial Market is one of the first round winners at the Financial and Private Sector Development (FPD) Academy Award at the World Bank in 2010. She holds a Ph.D. in economics from University of York, U.K.