NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

Universities Research Conference

Micro and Macroeconomic Effects of Financial Globalization

December 5 and 6, 2008

Ross Levine and Carlos Vegh, Organizers

Royal Sonesta Hotel

Parkview Room, East Tower

40 Edwin H. Land Blvd.

Cambridge, MA

PROGRAM

FRIDAY, DECEMBER 5:
8:45 am	Registration and Continental Breakfast
	Session 1: Foreign Lending and Credit in Emerging Markets
9:10 am	Welcoming Remarks:
	JEFFREY FRANKEL, Harvard University and NBER
9:15 am	RAOUL MINETTI, Michigan State University
	Foreign Lenders in Emerging Economies
	Discussant: ANTON KORINEK, University of Maryland
10:15 am	Break
10:45 am	MARIA SOLEDAD MARTINEZ PERIA, The World Bank
	Foreign Bank Participation and Outreach: Evidence from Mexico
	Discussant: ATIF MIAN, University of Chicago and NBER
11:45 am	TODD GORMLEY, Washington University in St. Louis
	Costly Information, Foreign Entry, and Credit Access
	Discussant: KENNETH KLETZER, UC, Santa Cruz
12:45 pm	Lunch – Room University BC (first floor, East Tower)
	Session 2: Financial Markets and Macroeconomic Volatility
2:00 pm	STEPHAN SIEGEL, Columbia University
	What Segments Equity Markets?
	Discussant: ANUSHA CHARI, University of North Carolina
3:00 pm	Break
3:30 pm	SEBNEM KALEMLI-OZCAN, University of Houston and NBER
	Deep Financial Integration and Volatility
	Discussant: NICOLA CETORELLI, New York Federal Reserve
4:30 pm	SCOTT DAVIS, Vanderbilt University
	The Effects of Globalization on International Business Cycle Co-Movement: Is All Trade and Finance Created Equal?
	Discussant: FABIO GHIRONI, Boston College and NBER
5:30 pm	Adjourn
6:00 pm	Group Dinner – Royal Sonesta Hotel, Room Skyline CDE (second floor, West Tower)
SATURDAY, DECEMBER 6:
8:45 am	Continental Breakfast
	Session 3: International Finance: Risk and Investment
9:15 am	ULUC AYSUN, University of Connecticut
	ADAM HONIG, Amherst College
	Bankruptcy Costs, Liability Dollarization and Vulnerability to Sudden Stops
	Discussant: MARIO CRUCINI, Vandebilt University and NBER
10:15 am	Break
10:30 am	FILIPPO BRUTTI, Universitat Pompeu Fabra
	Legal Enforcement, Public Supply of Liquidity and Sovereign Risk
	Discussant: VIVIAN YUE, New York University
11:30 am	LAURA ALFARO, Harvard University and NBER
	Intra-Industry Foreign Direct Investment
	Discussant: VERONICA RAPPOPORT, Columbia University
12:30 pm	Adjourn

12/4/08