Patrick Honohan


Professor of International Financial Economics and Development
Trinity College Dublin.

Institute for International Integration Studies

Room C6.009 (6th Floor, Arts Building)

Office hour 2009-10: Monday 3-4pm

+353-1-896 3195


EC3040 Economics of Less Developed Countries

EC3050 Investment Analysis

EC7006 MSc Macroeconomics II (Growth Theory) (Not 2009-10)

Research papers in progress

"Cause and Effect of Financial Access: Cross-Country Evidence from the Finscope Surveys" (with Michael King) Prepared for the World Bank Conference Measurement, Promotion, and Impact of Access to Financial Services Washington DC, March 2009. (Data Appendix).

"Postcolonial Ireland and Zimbabwe: Stagnation before Convergence" (with Frank Barry and Tara McIndoe) Prepared for the WEAI Conference, Kyoto, March 2009, IIIS Discussion Paper 291, June 2009.

 "Should Bank Supervisors in Developing Countries Exercise More or Less Forbearance?" IIDP Discussion Paper 231, October 2007.

Recent presentations, etc.

"Irish Banking Policy during and after the Crisis." Paper for the MacGill Summer School Glenties, Co. Donegal, 21st July 2009.

"Euro Membership and Bank Stability: Friends or Foes?" Paper for the 15th Dubrovnik Economic Conference, June 2009.

"The Banks since January" Presented to the TCD-Dublin Economic Workshop Conference: "Irish Economic Policy for the Crisis: What's Next?" Dublin, May 2009.

"What Went Wrong in Ireland?" Prepared for the World Bank, May 2009.

"Bank Recapitalization and NAMA"  Presented to the Joint Oireachtas Committee on Finance and the Public Service, 6th May 2009. (text)

"The Financial Crisis: Ireland and the World" The Michael Littleton Memorial Lecture, 2008, RTE Radio, December 2008 (recorded 2nd December 2008). (audio)

"Crisis Prevention and Resolution: Lessons from This & Previous Crises" Panel presentation to the LACEA-LAMES Conference, Rio de Janeiro, November 2008 (video podcast)

"The Banking Crisis: What's Happening and What's It Going to Cost?" IIIS Public Lecture, October 2008. (video podcast)

"Not a Re-run of  the 1980s" ESRI-FFS Pre-budget Conference, 1st October 2008 (slides)

"Another Lap for the Irish Hare?" Presentation to European Commission Workshop, June 2008.

"Money Matters for Poor Countries", Inaugural Lecture at Trinity College, April 2008

Selected recent publications

Honohan, Patrick. 2009. "Resolving the Irish Banking Crisis." Economic and Social Review 40(2): 207-232

Honohan, Patrick. 2009. "Bank Failures: The Limitations of Risk Modelling" in Douglas D Evanoff, Philipp Hartmann and George G. Kaufman, eds. The First Credit Market Turmoil of the 21st Century: Implications for Public Policy. (World Scientific), forthcoming. Earlier version presented to the European Central Bank-Chicago Fed Conference. September 2008.

Honohan, Patrick. 2008. "Containment and Resolution in the Financial Crisis: Too Little, Too Late." CESifo Forum 9(4): 22-27.

Honohan, Patrick. 2008. "The Retreat of Deposit Dollarization." International Finance 11(3): 247-268. (see discussion paper version and dataset)

Honohan, Patrick. 2008. "Cross-Country Variation in Household Access to Financial Services." Journal of Banking and Finance 32(11): 2493-2500..

Honohan, Patrick. 2009. "Partial Credit Guarantees: Principles and Practice." Journal of Financial Stability forthcoming. (earlier version:  IIDP Discussion Paper 244).

Honohan, Patrick. 2009. "Can Cost-Benefit Analysis of Financial Regulation Be Made Credible?" in Robert J. Brent, ed., Handbook on Research in Cost-Benefit Analysis. (Cheltenham: Edward Elgar).         

Beck, Thorsten, Aslı Demirgüç-Kunt and Patrick Honohan. 2009. "Access to Financial Services: Measurement, Impact and Policies." World Bank Research Observer 24: 119-145.

Caprio, Gerard Jr. and Patrick Honohan. 2009. "Banking Crises." in Allan Berger, Philip Molyneux and John Wilson, eds., The Oxford Handbook of Banking. (Oxford University Press). Forthcoming.

Honohan, Patrick. 2008. "Risk Management and the Costs of the Banking Crisis." National Institute Economic Review 205.

Honohan, Patrick. 2008. "Household Financial Assets in the Process of Development" in James B. Davies, ed., Personal Wealth from a Global Perspective UNU-WIDER Studies in Development Economics (Oxford University Press), pp. 271-292.

Honohan, Patrick. 2008. "Discussion of ‘Financial Innovation and European Housing and Mortgage Markets', by David Miles and Vladimir Pillonca." Oxford Review of Economic Policy 24(1): 176-179.

Honohan, Patrick. 2008. "Finance for Urban China." in Shahid Yusuf and Anthony Saich, eds., China Urbanizes: Consequences, Strategies and Policies. (Washington, DC: The World Bank).

Demirgüç-Kunt, Aslı, Thorsten Beck and Patrick Honohan. 2008. Finance for All? Policies and Pitfalls in Expanding Access. (Washington, DC: The World Bank).

Honohan, Patrick and Thorsten Beck. 2007. Making Finance Work for Africa.  (Washington, DC: The World Bank).

Honohan, Patrick. 2006. "To What Extent Has Finance Been a Driver of Ireland's Economic Success?" ESRI Quarterly Economic Commentary, December, pp.59-72.

Honohan, Patrick and Anthony J. Leddin. 2006. "Ireland in EMU: More Shocks, Less Insulation?" Economic and Social Review 37(2): 263-294.

Caprio Gerard and Patrick Honohan. 2005. "Starting Over Safely: Rebuilding Banking Systems." in Gerard Caprio, James A. Hanson and Robert E. Litan, eds., Financial Crises: Lessons from the Past, Preparation for the Future (Washington DC: Brookings Institution Press), pp. 217-255.

De Nicoló, Gianni, Patrick Honohan and Alain Ize. 2005. "Dollarization of Bank Deposits: Causes and Consequences." Journal of Banking and Finance 29(7): 1697-1727.

Honohan, Patrick and Luc Laeven, eds. 2005. Systemic Financial Distress: Containment and Resolution (New York: Cambridge University Press).

For downloadable versions of earlier papers and a complete list of publications see my Irish economy page, and my pages at SSRN and REPEC. 

Recent newspaper articles etc.

"Shareholders should take part of NAMA pricing risk" Irish Times, August 11, 2009

"Banking debate has been reduced to false dichotomy" Irish Times, May 21, 2009

"NAMA plan needs to be fully fleshed-out" Sunday Business Post, April 12, 2009.

 "All smiles at G20 but change will be limited" Irish Times, April 4, 2009.

 "Don't let overreaction derail budget planning" Irish Times, March 21, 2009.

"Ireland in Crisis" (with Philip R. Lane) Vox-eu, February 28, 2009.  Shorter version appeared as "We should aim to get the worst of it over quickly" Sunday Business Post, March 1, 2009.

"Bank rescue package: more to come" Sunday Business Post, February 15, 2009, also appeared as "What next for the restructuring of Irish banks?" Financial Times Economists' Forum, February 24, 2009

"Government cannot bank on venture capitalists" Irish Times, December 11, 2008

"G20 summit needs to tackle issues of financial governance" Irish Times, November 13, 2008

"Leaders aim to get globally decisive banks working again" Irish Times, October 13, 2008

 "Banks need large injections of risk capital to resolve crisis"  Irish Times, October 8, 2008

"Bank capital and bank liquidity: a tutorial" Sunday Business Post, October 5, 2008

"Outcome of bank guarantees abroad may worry taxpayers"  Irish Times, October 4, 2008

"Long history of government bailouts" Irish Times, September 19, 2008

"Undoing the Irish property boom"  Vox-eu, July 26, 2008

"Enough talk of the recession: what must we do to avoid it?" Irish Times, July 13, 2008

"A crisis waiting to happen" Sunday Business Post, March 9, 2008

Current funded research projects which I am leading

Household Access to Finance in Developing Countries: An Observatory of Survey Data (for World Bank, 2006-8)  Web-article; website

Doctoral Training for Development in Africa (Programme of Strategic Cooperation between Irish Aid and Higher Education and Research Institutes 2007-11) (

Turning Globalization to National Advantage: Economic Lessons from Ireland's Experience (for IRCHSS, 2008-11)

My curriculum vitae

Last updated: 28th August 2009