International Finance


Banks and Markets: The Changing Character of European Finance (with Luigi Zingales), The Transformation of the European Financial System: Second ECB Central Banking Conference, ed. V. Gaspar, P. Hartmann and O. Sleijpen, Frankfurt am Main: European Central Bank, October 2002, pp. 123-168

Controlled Capital Account Liberalization: A Proposal (with Eswar Prasad), December 2005

Currencies Aren't the Problem, Foreign Affairs, March/April 2011, 90(2), pp. 104-16

Financial Dependence and Growth (with Luigi Zingales), American Economic Review, June 1998, 88(3), pp 559-586

Financial Systems, Industrial Structure and Growth (with Luigi Zingales), Oxford Review of Economic Policy, Winter 2001, 17(4), pp. 467-482

The Future of the IMF and the World Bank, American Economic Review, May 2008, 98(2), pp. 110-115

Global Imbalances or Why Are the Poor Financing the Rich?, De Economist, March 2008, 156(1), pp. 3-24

Global Imbalances and Financial Reform with Examples from China, Cato Journal, Spring/Summer 2006, 26(2), pp. 267-73

The Global Roots of the Current Financial Crisis and its Implications for Regulation (with Anil Kashyap and Jeremy Stein), December 2008

The Great Reversals: The Politics of Financial Development in the 20th Century (with Luigi Zingales), Journal of Financial Economics, July 2003, 69(1), pp. 5-50

Institutional Reform and Sovereign Debt Crises, Cato Journal, Winter 2005, 25(1), pp. 17-24

New Directions in Indian Financial Sector Policy (with Ajay Shah), India's Financial Sector: Recent Reforms, Future Challenges, ed. Priya Baso, Macmillan Publishing Company, January 2005, pp. 54-87

Patterns of International Capital Flows and Their Implications for Economic Development (with Eswar Prasad and Arvind Subramanian), September 2006

A Pragmatic Approach to Capital Account Liberalization (with Eswar Prasad), Journal of Economic Perspectives, Summer 2008, 22(3), pp. 149-72

Sovereign debt, government myopia, and the financial sector (with Viral Acharya) Review of Financial Studies, Volume: 26 Issue: 6 Pages: 1526-1560 DOI: 10.1093/rfs/hht011 JUN 2013

The True Lessons of the Recession: The West Cannot Borrow and Spend its Way to Recovery, Foreign Affairs (May/June 2012)

What Do We Know About Capital Structure? Some Evidence from International Data (with Luigi Zingales), Journal of Finance, December 1995, 50(5), pp. 1421-1460

Which Capitalism? Lessons from the East Asian Crisis (with Luigi Zingales), Journal of Applied Corporate Finance, Fall 1998, 11(3), pp. 40-48



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