Deposit Insurance around the World: Issues of Design and Implementation, co-edited with Asli Demirguc-Kunt and Edward J. Kane, Cambridge, MA: MIT Press.

A Reader in International Corporate Finance, Two volumes, co-edited with Stijn Claessens, World Bank, 2006.  Contains a collection of 23 of the most influential articles published in recent years on international corporate finance and offers an overview of the current thinking on six topics: law and finance, corporate governance, banking, capital markets, capital structure and financing constraints, and the political economy of finance. This reader is ideal for use in advanced corporate finance courses or MBA courses.

Systemic Financial Distress: Containment and Resolution, co-edited with Patrick Honohan, Cambridge, UK: Cambridge University Press, 2005. [An annotation of the book appeared in the March 2006 issue of the Journal of Economic Literature, pp. 230]

Managing the Real and Fiscal Effects of Banking Crises, co-edited with Daniela Klingebiel, World Bank Discussion Paper No. 428, Washington, DC, 2003.

Articles

“Pension Reform, Ownership Structure, and Corporate Governance: Evidence from Sweden”, joint with Mariassunta Giannetti, Review of Financial Studies, Forthcoming, 2008.

“Finance, Firm Size, and Growth”, joint with Thorsten Beck, Asli Demirguc-Kunt, and Ross Levine, Journal of Money, Credit, and Banking, Forthcoming, 2008.

“International Profit Shifting within European Multinationals”, joint with Harry Huizinga, Journal of Public Economics, Forthcoming, 2007.

“Corporate Governance Quality in Asia: Comparative Trends and Impact”, joint with Gianni De Nicolò and Kenichi Ueda, Journal of Financial Intermediation, Forthcoming, 2007.

“Capital Structure and International Debt Shifting in Europe”, joint with Harry Huizinga and Gaëtan Nicodème, Journal of Financial Economics, Forthcoming, 2007.

“Complex Ownership Structures and Corporate Valuations”, joint with Ross Levine, Review of Financial Studies, Forthcoming, 2007.

“Determinants of Deposit-Insurance Adoption and Design”, joint with Asli Demirgüç-Kunt and Edward J. Kane, Journal of Financial Intermediation, Forthcoming, 2007.

“Political Connections and Preferential Access to Finance: The Role of Campaign Contributions”, joint with Stijn Claessens and Erik Feijen, Journal of Financial Economics, Forthcoming, 2006.

“The Quality of the Legal System and Firm Size”, joint with Christopher Woodruff, Review of Economics and Statistics, Vol. 89, No. 4, pp. 601–614, November 2007.

“Governance and Bank Valuation”, joint with Gerard Caprio and Ross Levine, Journal of Financial Intermediation, Vol. 16, No. 4, pp. 584-617, October 2007.

“Is There a Diversification Discount in Financial Conglomerates?”, joint with Ross Levine, Journal of Financial Economics, Vol. 85, No. 2, pp. 331-367, August 2007.

“International Portfolio Diversification Benefits: Cross-Country Evidence from a Local Perspective”, joint with Joost Driessen, Journal of Banking and Finance, Vol. 31, No. 6, pp. 1693-1712, June 2007.

“Banking Crises, Financial Dependence, and Growth”, joint with Daniela Klingebiel and Randall Kroszner, Journal of Financial Economics, Vol. 84, No. 1, pp. 187-228, April 2007.

“Entry Regulation as a Barrier to Entrepreneurship”, joint with Leora Klapper and Raghuram Rajan, Journal of Financial Economics, Vol. 82, No. 3 , pp. 591-629, December 2006.

“The Determinants of Financing Obstacles”, joint with Thorsten Beck, Aslı Demirgüç-Kunt, and Vojislav Maksimovic, Journal of International Money and Finance, Vol. 25, No. 6, pp. 932-952, October 2006.

“Institutions and Growth in Transition Economies”, joint with Thorsten Beck, Journal of Economic Growth, Vol. 11, No. 2, pp. 157-186, June 2006.

“Corporate Governance Provisions and Firm Ownership: Firm-Level Evidence from Eastern Europe”, joint with Leora Klapper and Inessa Love, Journal of International Money and Finance, Vol. 25, No. 3, pp. 429-444, April 2006.

“Does Judicial Efficiency Lower the Cost of Credit?”, joint with Giovanni Majnoni, Journal of Banking and Finance, Vol. 29, No. 7, pp. 1791-1812, 2005.

“Financial Sector Competition, Financial Dependence, and Growth”, joint with Stijn Claessens, Journal of the European Economic Association, Vol. 3, No. 1, pp. 179-207, 2005.

“The Political Economy of Deposit Insurance”. Journal of Financial Services Research, Vol. 26, No. 3, pp. 201-224, 2004. (lead article).

“Regulations, Market Structure, Institutions, and the Cost of Financial Intermediation”, joint with Asli Demirguc-Kunt and Ross Levine, Journal of Money, Credit, and Banking, Vol. 36, No. 3 (Part 2), pp. 593-622, June 2004.

“What Drives Bank Competition ? Some International Evidence”, joint with Stijn Claessens, Journal of Money, Credit, and Banking, Vol. 36, No. 3 (Part 2), pp. 563-583, June 2004.

“Financial Development, Property Rights, and Growth”, joint with Stijn Claessens, Journal of Finance, Vol. 58, No. 6, pp. 2401-2436, December 2003. (This paper was nominated for the 2004 Brattle award for best corporate finance paper in the Journal of Finance).

“How Country and Safety-Net Characteristics Affect Bank Risk-Shifting”, joint with Armen Hovakimian and Edward Kane, Journal of Financial Services Research, Vol. 23, No. 3, pp. 177-204, 2003 (lead article).

“Does Financial Liberalization Reduce Financing Constraints?”, Financial Management, Vol. 32, No. 1, pp. 5-34, 2003 (lead article). (Finalist (third place) for the 2004 Addison-Wesley prize)

“Loan Loss Provisioning and Economic Slowdowns: Too Much, Too Late?”, joint with Giovanni Majnoni, Journal of Financial Intermediation, Vol. 12, No. 2, pp. 178-197, 2003.

“International Evidence On the Cost of Deposit Insurance”. Quarterly Review of Economics and Finance, Vol. 42, No. 4, pp. 721-732, 2002.

“Financial Constraints on Investments and Credit Policy in Korea”. Journal of Asian Economics, Vol. 13, No. 2, pp. 251-269, 2002.

“How Good is the Market at Assessing Bank Fragility? A Horse Race Between Different Indicators”, joint with Paola Bongini and Giovanni Majnoni, Journal of Banking and Finance, Vol. 26, No. 5, pp. 1011-1028, 2002.

“Bank Risk and Deposit Insurance”, World Bank Economic Review, Vol. 16, No. 1, pp. 109-137, 2002.

“Insider Lending and Bank Ownership: The Case of Russia”. Journal of Comparative Economics, Vol. 29, No. 2, pp. 207-229, 2001 (lead article).

Book Chapters and Monographs

“Introduction”, joint with Patrick Honohan, In: Patrick Honohan and Luc Laeven (Eds.), Systemic Financial Distress: Containment and Resolution, Chapter 1, Cambridge: Cambridge University Press, Forthcoming.

“Financial Crisis Policies and Resolution Mechanisms: A Taxonomy from Cross-Country Experience”, joint with Charles Calomiris and Daniela Klingebiel, In: Patrick Honohan and Luc Laeven (Eds.), Systemic Financial Distress: Containment and Resolution, Chapter 2, Cambridge: Cambridge University Press, Forthcoming.

“Crisis Resolution, Policies, and Institutions: Empirical Evidence”, joint with Stijn Claessens and Daniela Klingebiel, In: Patrick Honohan and Luc Laeven (Eds.), Systemic Financial Distress: Containment and Resolution, Chapter 6, Cambridge: Cambridge University Press, Forthcoming.

“Competition in the Financial Sector and Growth: A Cross-Country Perspective” joint with Stijn Claessens, In: Charles Goodhart (Ed.), Financial Development and Economic Growth: Explaining the Links, Chapter 3, pp. 66-105, Palgrave MacMillan, London, United Kingdom, 2004.

“The Growing Importance of Networks in Finance and Its Effects on Competition”, joint with Stijn Claessens, Gergely Dobos, and Daniela Klingebiel, In: Anna Nagurney (Ed.), Innovations in Financial and Economic Networks, Chapter 6, pp. 110-135, Edward Elgar Publishers, Northampton, MA, 2003.

“International Portfolio Diversification Benefits: Cross-Country Evidence”, joint with Joost Driessen, In: J. Hanson, P. Honohan, and G. Majnoni (Eds.), Globalization and National Financial Systems, Chapter 7, World Bank, Oxford University Press, 2003.

“Financial Restructuring in Banking and Corporate-Sector Crises: What Policies to Pursue?”, joint with Stijn Claessens and Daniela Klingebiel, In: Michael P. Dooley and Jeffrey A. Frankel (Eds.), Managing Currency Crises in Emerging Markets, The University of Chicago Press, 2003. Reprinted in: Dilip K. Das (Ed.), An International Finance Reader, Chapter 22, 2003. Also: NBER Working Paper No. 8386.

Newspaper and Magazine Articles

“Policy Choices to Deal with the Distress of Financial Institutions”, The China Banker, March 2006.

Working Papers and Work in Progress

“Corporate Governance Norms and Practices”, joint with Vidhi Chhaochharia.

“The Impact of Organizational Structure and Lending Technology on Banking Competition”, joint with Hans Degryse and Steven Ongena.

“Corporate Governance, Regulation, and Bank Risk-Taking”, joint with Ross Levine.

“Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market”, joint wqith Giovanni dell'Ariccia and Deniz Igan.