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Conference on Bank Regulation and Corporate Finance: Challenges for the Future

Bank Regulation and Corporate Finance conferenceJournal of Financial Intermediation and
World Bank
Conference on
Bank Regulation and Corporate Finance: Challenges for the Future

October 26-27, 2006, Washington, DC


|     October 26   |    October 27   |

Thursday, October 26    

9:00 – 9:10 am 

Opening Remarks 
  L. Alan Winters (World Bank) and Ernst-Ludwig von Thadden (University of Mannheim)

9:10 – 10:30 am 

Session 1:  Bank Runs and Bank Regulation 
  Chair:  Ernst-Ludwig von Thadden (University of Mannheim)
  Money and Modern Banking without Bank Runs
          (also available: author's presentation)
David Skeie (Federal Reserve Bank of New York).
Discussant: Giovanni dell’Ariccia (IMF) (presentation)
  Banking on the Principles: Compliance with Basel Core Principles and Bank Soundness”          (also available: authors' presentation)  
Asli Demirguc-Kunt (World Bank), and Enrica Detragiache and Thierry Tressel (IMF)
Discussant: Michael Gibson (Federal Reserve Board) (presentation)

11:00am – 12:20 pm 

Session 2: Bank Ownership, Control, and Mergers 
  Chair:  Ross Levine (Brown University) 
  The Economic Impact of Merger Control: What is Specific about Banking?”          (also available: authors' presentation)
Elena Carletti (University of Frankfurt), Philipp Hartmann (European Central Bank and CEPR), and Steven Ongena (CentER-Tilburg University and CEPR)
Discussant:  Thorsten Beck (World Bank)  (presentation)

Does Banks’ Corporate Control Benefit Firms? Evidence from US Banks’ Control over Firms’ Voting Rights”             
          (also available: authors' presentation)
Joao Santos and Kristin Wilson (Federal Reserve Bank of New York)
Discussant:  Stijn Claessens (World Bank) (presentation)

12:20 – 2:20 pm  

Lunch break 
  Keynote speaker: Randall Kroszner (Federal Reserve Board) 

2:20 – 3:40 pm 

Session 3:  Political Economy of Banking 
  Chair: Augusto de la Torre (World Bank)
  Political Determinants of Government Loans in Japan
          (also available: author's presentation)
Masami Imai (Wesleyan University)
Discussant: Anil Kashyap (University of Chicago) (presentation)

Too Many to Fail? Evidence of Regulatory Reluctance in Bank Failures When the Banking Sector Is Weak
          (also available: authors' presentation)

Craig O. Brown and Serdar Dinc (Northwestern University) 
Discussant:  Soledad Martinez Peria (World Bank) (presentation)


4:10 – 5:40 pm  

Panel:  The Political Economy of Competition Policy and Bank Regulation 
"Transcript of the Discussion"


Moderator: Gerard Caprio (Williams College) 
Arnoud Boot (University of Amsterdam)
Charles Calomiris (Columbia University)
Ed Kane (Boston College)
Eric Rosengren (Federal Reserve Bank of Boston)
Gary Stern (Federal Reserve Bank of Minneapolis)

Friday, October 27

8:30 – 10:00 am 

Session 4:  Bank Competition and Stability
  Chair: Luc Laeven (IMF)

Competition and Entry in Banking: Implications for Capital Regulation
          (also available: authors' presentation)

Arnoud Boot and Matej Marinc (University of Amsterdam)
Discussant: Franklin Allen (Wharton School) (presentation)

  Bank Risk Taking and Competition Revisited: New Theory and New Evidence”          (also available: authors' presentation)
John Boyd and Abu Al Jalal (University of Minnesota), and Gianni de Nicolo (IMF)
Discussant: Bilal Zia (World Bank) (presentation)

10:30 am – 12:30 pm  

Session 5:  Market Discipline and Bank-Firm Relationships 
  Chair: George Pennacchi (University of Illinois) 

Using Price Information as an Instrument of Market Discipline in Regulating Bank Risk
          (also available: authors' presentation)
Gunter Strobl (University of North Carolina), Alfred Lehar (University of Calgary), and Duane Seppi (Carnegie Mellon University)
Discussant: Andrew Powell (Inter-American Development Bank) 

  Does the Market Discipline Banks? New Evidence from Regulatory Capital Mix
          (also available: author's presentation)
Adam Ashcraft (Federal Reserve Bank of New York)
Discussant: Robert DeYoung (Federal Deposit Insurance Corporation)

The Bank-Firm Relationship: A Trade-off Between Better Governance and Greater Information Asymmetry
          (also available: authors' presentation)

Nishant Dass (INSEAD, France) and Massimo Massa (INSEAD, France)
Discussant: Leora Klapper (World Bank) (presentation)


Organizing Committee: Thorsten Beck, Luc Laeven, Ross Levine, George Pennacchi, Anjan Thakor, and Ernst-Ludwig Von Thadden

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