Author: Aleksandr V. Gevorkyan

Aleksandr V. Gevorkyan, PhD is Henry George Chair in Economics and Associate Professor of Economics at the Department of Economics and Finance of the Peter J. Tobin College of Business at St. John鈥檚 University in New York City. His research covers themes in open economy macroeconomics, economic development, international financial economics, and post-socialist transition economics. Dr. Gevorkyan is the author of Transition Economies: Transformation, Development, and Society in Eastern Europe and the Former Soviet Union (Routledge, 2018) https://goo.gl/jSN65c

The聽frailties聽of聽diaspora bonds聽

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The interest in聽diaspora bonds聽is sustained by the theoretical potential聽聽in聽poor economies by raising funds from聽expatriate communities, often labor migrants, living abroad.聽At the start of the COVID-19 pandemic in 2020,聽as聽developing nations聽faced聽sudden reversals聽in聽capital flows, diaspora bonds聽聽to聽counter聽the international capital markets鈥櫬爒olatility.聽A year later, the聽聽by the international institutional investors may prompt聽renewed calls for tapping into diaspora. But聽is the alternative scheme so easily deployable?聽

Diaspora bonds are sovereign debt securities issued by countries appealing to the altruistic motives of their cultural and national diasporas across the world. Historically, there have been several attempts to leverage the diaspora premium, with Israel and India running the most effective . 

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How History Matters in Post-Socialist Economies

Aleksandr V. Gevorkyan1 Comment

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Though it has been suggested that 鈥� it was in the early 1991 that captured the minds of the new generation of Eastern Europe (EE) and the Former Soviet Union (FSU).

The promise of more open societies following Mikhail 骋辞谤产补肠丑别惫鈥檚 perestroika announcement set in motion powerful dynamics completely transforming the world. The Berlin Wall fell in 1989 and by the end of 1991 the Soviet Union disintegrated bringing down the entire socialist institutional edifice. Newly independent nation-states emerged across Europe, the Caucasus, and Central Asia. This new 鈥渨ind鈥� was that of hope, progressive stability and economic prosperity, or so it seemed at the time. And yet, 鈥淸蹿]or whom the wall fell?鈥� , is not as straightforward as might have been expected.

Despite the independence premium in national policy and in parallel with the post-socialist economies are yet to achieve the ideals announced at the outset of market reforms. Ironically, the most unfortunate economic plan was the 1990s script of transition from planned economy to free market in the EE and FSU.

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How We Learned Not to Say No to Gold… In International Reserves

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By Aleksandr V. Gevorkyan (St. John鈥檚 University) and Tarron Khemraj (New College of Florida)

In May 2016, economist Kenneth Rogoff that central banks in emerging markets should add gold to their reserves. Rogoff stated 鈥渢hat a shift in emerging markets toward accumulating gold would help the international financial system function more smoothly and benefit everyone.鈥� Despite initial disagreement, we find there may actually be some justification for this view in a recent .Read More »