Press:The University of Chicago Press

National Bureau of Economic Research Conference Report

Preface ix
Introduction 1
Sebastian Edwards and Márcio G. P. Garcia
1. Links between Trade and Finance: A Disaggregated Analysis 9
Joshua Aizenman and Ilan Noy
Comment: Maria Cristina Terra
Comment: Thierry Verdier
2. Ineffective Controls on Capital Inflows  under Sophisticated Financial Markets: Brazil in the Nineties 29
Bernardo S. de M. Carvalho and
Márcio G. P. Garcia
Comment: Gustavo H. B. Franco
Comment: Marcelo Abreu
3. Financial Openness, Currency Crises, and Output Losses 97
Sebastian Edwards
Comment: Edmar L. Bacha
Comment: Marcelo Kfoury Muinhos
4. Capital Market Development: Whither Latin America? 121
Augusto de la Torre, Juan Carlos Gozzi, and
Sergio L. Schmukler
Comment: Ugo Panizza
5. Judicial Risk and Credit Market Performance: Micro Evidence from Brazilian Payroll Loans 155
Ana Carla A. Costa and João M. P. De Mello
Comment: Renato G. Flôres Jr.
6. Liquidity Insurance in a Financially Dollarized Economy 185
Eduardo Levy Yeyati
Comment: Marco Bonomo
Comment: Alejandro Werner
7. Sudden Stops and IMF-Supported Programs 219
Barry Eichengreen, Poonam Gupta,
and Ashoka Mody
Comment: Ilan Goldfajn
8. Mutual Reinforcement: Economic Policy Reform  and Financial Market Strength 267
Anne O. Krueger
Contributors 279
Author Index 281
Subject Index 285
viii Contents