from University of Groningen Prof Dr Harry Garretsen 2009-2010

总体思路是 From Financial development-Growth (closed economy) (Theme 1) Financial Openness-Growth (Theme 2) to Causes of Financial Crises (Theme 3) and Consequences of Financial Crises (both real economy and Policy, Theme 4) , at last looking back and forward about History of Crises and Contagion Effects (Theme 5) and Current Crisis (Theme 6)

这些文章我都认真读过和学习过，欢迎讨论：）

附件中包含了以下文章：

Theme 1 (week 38) Do Banks Have a Positive Impact on Growth and Stability?
-R. Levine, 2001, “Bank-Based or Market-Based Financial Systems; Which is Better? 35 pp.,

see for this version http://www.econ.brown.edu/fac/Ross_Levine/Publications.htm
[paper published in the Journal of Financial Intermediation. 2002, 11, pp. 1-30]


-R. de Haas and I. van Lelyveld, 2006, “Foreign Bank and Credit Stability in Central and Eastern Europe, A panel data analysis”,
Journal of Banking and Finance.
30, pp. 1927-1952.


Theme 2 (week 39) Is Financial Liberalization Good for Economic Growth?
-E. Prasad and R. Rajan, 2008, “A Pragmatic Approach to Capital Account Liberalization”, 35 pp., http://faculty.chicagobooth.edu/raghuram.rajan/research/
[paper published in Journal of Economic Perspectives, 22(3), pp. 149-172]



-D. Rodrik and A. Subramanian, 2008, “Why Did Financial Liberalization Disappoint?”, March 2008, 30 pp., http://ksghome.harvard.edu/~drodrik/papers.html


Theme 3 (week 40)
The Causes of Financial Crises: Basic Theories and Data
1st presentation:
-F. Mishkin, 1996, “Understanding Financial Crises; A Developing Country Perspective”, NBER Working Paper.
5600, May 1996, 49 pp.
-H. Minsky, 1992,
“The Financial Instability Hypothesis”, Working paper 74, Jerome Levy Economics Institute of Bard College,
10 pp.

2nd presentation
-L. Laeven and F Valencia, 2008, “Systemic Banking Crises. A New Data Base”, IMF Working Paper WP/08/224,
IMF Washington, 78 pp.







Theme 4 (week 41)
The Consequences of Financial Crises: Empirics and Policies

-Claessens, S, M.A. Kose and M.E. Terrones, 2008, “What Happens During Recessions, Crunches and Busts?”, IMF Working Paper WP/08/274,
IMF Washington, 75 pp.

- Demirgüç-Kunt, A. and L. Servén, 2009, “Are All the Sacred Cows Dead? Implications of the Financial Crisis for Macro and Financial Policies”, World Bank Policy Research Working Paper 4807, The World Bank Washington, 52 pp.


Theme 5 (week 42) The history of crises and contagion
-Reinhart, C. and K. Rogoff, 2008, “Banking Crises, An Equal Opportunity Menace”, December 2008, also available as NBER WP 14587, 65 pp.

-Kaminsky, G., C Reinhart, and C Vegh, 2003, “The Unholy Trinity of Financial Contagion”, NBER WP 10061, 38 pp
[published in Journal of Economic Perspectives, Vol. 17 No. 4. Fall 2003, 51-74.]


Theme 6 (week 43) The current crisis: 2007/8-?
1st presentation:
-Borio, C. 2008, “The Financial Turmoil of 2007-?: A Preliminary Assessment and Some Policy Considerations”, BIS Working Paper 251, BIS Basle, 28 pp.
-Rajan, R and D. Diamond, 2009, “The Credit Crisis, Conjectures about Causes and Remedies”,
published in papers and proceedings American Economic Review, May 2009, 12 pp.

2nd presentation
-Blanchard O.J, 2009, “The Crisis: Basic Mechanisms and Appropriate Policies”, CESifo Forum, 1/2009, 14 pp (Oliver Blanchard is chief economist of the IMF)
-IMF, World Economic Outlook,
October 2008 (chapter 4), 30 pp.