May 17, 2003

8:30–9:00 AM Continental breakfast and introductions

9:00–11:00 AM
Karla Hoff, The World Bank and Joseph Stiglitz, Department of Economics, Columbia University
“After the Big Bang? Obstacles to the Emergence of Rule of Law in Post-Communist Societies”
[the power point presentation and the abridged version of this paper is also available]

Discussants
Gary Libecap, University of Arizona
Michael Hiscox, Harvard University

11:00–11:30 AM Coffee break

11:30 AM–1:30 PM
Katharina Pistor, Columbia University and Chenggang Xu, London School of Economics
“Deterrence and Regulatory Failure in Emerging Financial Markets: Comparing China and Russia”
[related version: “Law Enforcement under Incomplete Law: Theory and Evidence from Financial Market Regulation”]

Discussants
John Ferejohn, Stanford University
Phil Keefer,World Bank

1:30–3:00 PM Lunch

3:00–5:00 PM
Howard Rosenthal, Princeton University and Erik Berglof, Stockholm School of Economics
“The Political Origin of Finance: The Case of Federal Bankruptcy Law in the United States”

Discussants
Lee Alston, University of Colorado
Randall Kroszner, University of Chicago and Council of Economic Advisers