Microscopic Formulation of Black Holes in String Theory

In this Report we review the microscopic formulation of the five dimensional black hole of type IIB string theory in terms of the D1-D5 brane system. The emphasis here is more on the brane dynamics than on supergravity solutions. We show how the low energy brane dynamics, combined with crucial inputs from AdS/CFT correspondence, leads to a derivation of black hole thermodynamics and the rate of Hawking radiation. Our approach requires a detailed exposition of the gauge theory and conformal field theory of the D1-D5 system. We also discuss some applications of the AdS/CFT correspondence in the context of black hole formation in three dimensions by thermal transition and by collision of point particles.Comment: (v2) To appear in Physics Reports; 168 pages, 4 figures. References and clarifications adde