International Finance (part II)

Lecture 1: International Financial Integration and Economic Growth

Lectures Notes

References:

Pierre-Olivier Gourinchas & Olivier Jeanne, 2006. "The Elusive Gains from International Financial Integration," Review of Economic Studies, Blackwell Publishing, vol. 73(3), pages 715-741

Link to paper

Saint-Paul, Gilles, 1992. "Technological choice, financial markets and economic development," European Economic Review, Elsevier, vol. 36(4), pages 763-781, May

Link to paper

Obstfeld, Maurice, 1994. "Risk-Taking, Global Diversification, and Growth," American Economic Review, American Economic Association, vol. 84(5), pages 1310-29, December.

Link to paper

Levchenko Andrei, Romain Ranciere and Mathias Thoenig , 2007, Growth and Risk at the Industry Level: The Real Effects of Financial Liberalization Latest Version,(December, 2007)

Lecture 2: Financial Crises

Lectures Notes

References:

Allen, Franklin & Gale, Douglas, 2000. "Optimal currency crises," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 177-230, December

Franklin Allen & Douglas Gale, 1998. "Optimal Financial Crises," Journal of Finance, American Finance Association, vol. 53(4), pages 1245-1284, 08. [Downloadable!]

Diamond, Douglas W & Dybvig, Philip H, 1983. "Bank Runs, Deposit Insurance, and Liquidity," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 401-19, June

Martin Schneider & Aaron Tornell, 2004. "Balance Sheet Effects, Bailout Guarantees and Financial Crises," Review of Economic Studies, Blackwell Publishing, vol. 71, pages 883-913, 07.

Microeconomics of Banking (Hardcover) MIT Press by Xavier Freixas (Author), Jean-Charles Rochet (Author)

Lecture 3: Sovereign Risk

Lectures Notes

References:

Obstfeld-Rogoff: Chapter on Sovereign Debt

Imbs, Jean and Romain Ranciere, 2007, “The Overhang Hangover” ,mimeo IMF and University of Lausanne

Broner Fernando, Alberto Martin and Jaume Ventura, 2006, “Sovereign Risk and Secondary Markets,” mineo CREI and Universitat Pompeu Fabra

Lecture 4: Exchange Rate and Global Imbalances.

TBA