Readings:

Levine, Ross (1997), “Financial Development and Economic Growth: Views and Agenda,” Journal of Economic Literature, vol. 35, pp. 688-726.
Levine, Ross (2003), “Finance and Growth: Theory, Evidence and Mechanisms,”

Lecture Notes

August 18 – Session Conducted by Monica Dutta

Readings:

King, Robert G. and Ross Levine (1993), “Finance and Growth: Schumpeter Might be Right,” Quarterly Journal of Economics, vol. 108, no. 3, pp. 717-37.

Levine, Ross and Sara Zervos (1998), “Stock Markets, Banks, and Economic Growth,” American Economic Review, vol. 88, no. 3, pp. 537-58.

Rajan, Raghuram and Luigi Zingales (1998), “Financial Dependence and Growth,” American Economic Review, vol. 88, no. 3, pp. 559-86.

Demirguc-Kunt, Asli and Vojislav Maksimovic (1998), “Law, Finance, and Firm Growth,” Journal of Finance, vol. 53, pp. 2107-37.

August 27 -- Session Conducted by Professor Prabal Roy Chowdhury

Readings:

Greenwood, Jeremy and Bruce Smith (1997), "Financial Markets in Development, and the Development of Financial Markets," Journal of Economic Dynamics and Control, vol. 21, pp. 145-81.

Bencivenga, Valerie and Bruce Smith (1991), "Financial Intermediation and Endogenous Growth," Review of Economic Studies, vol. 58, no. 2, pp. 195-209.

September 2 -- Session Conducted by Professor Tridip Ray

Readings

Greenwood, Jeremy and Boyan Jovanovic (1990), "Financial Development, Growth, and the Distribution of Income," Journal of Political Economy, vol. 98, no. 5, pp. 1076-1107.

September 24 -- Session Conducted by Professor Tridip Ray

Readings

Acemoglu, Daron and Fabrizio Zilibotti (1997), "Was Prometheus Unbound by Chance? Risk, Diversification, and Growth," Journal of Political Economy, vol. 105, no. 4, pp. 709-51.

October 1-- Session Conducted by Professor Prabal Roy Chowdhury

Readings

Section 3. Greenwood, Jeremy and Bruce Smith (1997), "Financial Markets in Development, and the Development of Financial Markets," Journal of Economic Dynamics and Control, vol. 21, pp. 145-81.

October 8 -- Session Conducted by Professor Chetan Ghate

Introduction to the Growth and Distribution Literature

October 15 -- Session Conducted by Professor Chetan Ghate

Readings:

Barro, R (1996), "Inequality and Growth in a Panel of Countries," Journal of Economic Growth, 1, 5-32.

Perotti, R., (1996), "Growth, Income Distribution, and Democracy: What the Data Say," Journal of Economic Growth, 1, 149-178.

Aghion, P., Eve Caroli, and Cecilia Garcia-Penalosa (1999), "Inequality and Economic Growth: The Perspective of the New Growth Theories," Journal of Economic Literature, 37, 1615-1660.

Forbes, K (2000), "A Reassessment of the Relationship between Inequality and Growth," American Economic Review, 90, 869-887.

Banerjee, A., and Esther Duflo (2003), "Inequality and Growth: What Can the Data Say," Journal of Economic Growth, 7, 267-299.

October 25-- Session Conducted by Monica Dutta

Readings:

Persson T., and Guido Tabellini (1994), "Is Inequality Harmful for Growth," American Economic Review, 84, 600-621.

November 5-- Session Conducted by Saptarshi Mukherjee

Readings:

Bertola, G. (1993), "Factor Shares and Savings in Endogenous Growth", American Economic Review, 83, 1184-98.

November 9 -- Session Conducted by Rudrani Bhattacharya

Readings:

Alesina A. and Dani Rodrik (1994), "Distributive Conflict and Economic Growth," Quarterly Journal of Economics, 109, 465-490.

November 19 -- Session Conducted by Rudrani Bhattacharya and Saptarshi Mukherjee

Readings:

Gradstein, Mark. 2002. ``Rules, Stability and Growth", Journal of Development Economics, Vol. 67, 471-484.

November 24 -- Session Conducted by Professor Satya Das

Readings:

Benabou, Roland. 1996. ``Inequality and Growth", NBER Macroeconomic Annual, B. Bernanke and J. Rotemberg, eds., 11-74.