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The William Davidson Institute at the University of Michigan Business School
presents the 2001 Journal of Financial Intermediation Symposium
BANKING IN EMERGING MARKETS
University of Michigan, Ann Arbor, MI
June 15-17, 2001
Friday, June 15
| 6:00 PM | Keynote Address: Dr. Michael Moskow, President and CEO |
| Federal Reserve Bank of Chicago | |
| 6:45 PM | Welcome Reception and Dinner |
Saturday, June 16
| SESSION I: ISSUES IN BANK REGULATION | |
| Chair: Patrick Bolton, Princeton University | |
| 8:00 AM | Continental Breakfast |
| 8:30 AM | Viral V. Acharya (New York University) |
| "A Theory of Systemic Risk and Design of Prudential Bank Regulation" | |
| Discussant: Richard Rosen, Indiana University | |
| 9:30 AM | Haizhou Huang (International Monetary Fund) |
| Chenggang Xu (London School of Economics) | |
| "Financial Institutions, Financial Contagion, and Financial Crises" | |
| Discussant: George Pennacchi, University of Illinois | |
| 10:30 AM | Break |
| 11:00 AM | Jun Qian (Boston College) |
| George Alessandria (Ohio State University) | |
| "The Development of Financial Intermediation and Real Effects of Capital Account Liberalization" | |
| Discussant: Loretta J. Mester, Federal Reserve Bank of Philadelphia | |
| Noon | Lunch |
| SESSION II: FINANCIAL SYSTEM DESIGN | |
| Chair: Anjan V. Thakor, University of Michigan | |
| 1:00 PM | Ross Levine (University of Minnesota) |
| "Bank-Based or Market-Based Financial Systems: Which is Better?" | |
| Discussant: Artyom Durnev, University of Michigan | |
| 2:00 PM | Break |
| 2:15 PM | Solomon Tadesse (University of South Carolina) |
| "Financial Architecture and Economic Performance: International Evidence" | |
| Discussant: Florencio Lopez-de-Silanes, Harvard University | |
| 3:15 PM | Break |
| 3:30 PM | Thomas F. Hellman (Stanford University) |
| Marco Da Rin (University of Torino) | |
| "Banks as Catalysts for Industrialization" | |
| Discussant: Sugato Bhattacharyya, University of Michigan | |
| 4:30 PM | Adjourn |
| 6:00 PM | Conference Dinner |
Sunday, June 17
| SESSION III: ISSUES IN EMERGING MARKETS | |
| Chair: Jan Svejnar, William Davidson Institute, UMBS | |
| 8:00 AM | Continental Breakfast |
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8:30 AM |
Roundtable Discussion: |
| Emerging Research and | |
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Policy Issues in Emerging Markets
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| Patrick Bolton (Princeton University) | |
| Stuart Greenbaum (Washington University) | |
| Anna Meyendorff (William Davidson Institute) | |
| Jan Svejnar (WDI and University of Michigan) | |
| 9:30 AM | Darius P. Miller (Indiana University) |
| John Puthenpurackal (Texas A&M University) | |
| "The Costs, Wealth Effects, and Determinants of International Capital Raising: Evidence from Public Yankee Bonds" | |
| Discussant: Josh Coval, University of Michigan | |
| 10:30 AM | Break |
| 11:00 AM | James E. McNulty (Florida Atlantic University) |
| "Legal Systems, Financial Intermediation and the Development of Loan Relationships in the Transitional Economies of Central and Eastern Europe" | |
| Discussant: Serdar Dinc, University of Michigan | |
| Noon | Adjourn |
