Luc Laeven is Director-General, Directorate General Research at the European Central Bank. Formerly, he was a Senior Economist in the Research Department of the International Monetary Fund. Prior to this, he was a Senior Financial Economist at the World Bank and worked at ABN Amro Bank. His research focuses on international banking and corporate finance issues and has been published in top academic journals, including the Journal of Finance and the Journal of Financial Economics. He has also co-edited a book on Systemic Financial Crises: Containment and Resolution published by Cambridge University Press. He is a Research Affiliate of the Financial Economics Programme of the Centre for Economic Policy Research in London.