My research is on real-financial sector interactions and on development economics.

 

On my recent work, see this presentation (26 min), documentary (8 min) and interview (10 min), or this presentation in Dutch.

 

My 2010 article "No One Saw This Coming": Understanding Financial Crisis Through Accounting Models" was featured at Economist.com , seekingalpha.com  , Me Judice , internationaleconomics.net , The New Republic  and the Dutch and Italian daily press It was quoted in European Central Bank speeches  and in the Dutch Parliamentary Report on the credit crisis (Commissie De Wit). The Dutch economists' discussion forum Me Judice also features a lively discussion on the sense and nonsense of economic models.

 

IN THE MEDIA

(2013) Interview, BNR Nieuwsradio,bnr.nl => luister=> archief=> 28 januari 9.30-10.15

(2013) De kwalijke rol van het 'vergeten geld', Het Parool, 12 Januari

(2012) De retoriek van het huishoudboekje, met Steven Brakman, Me Judice 5 August

(2012) Van schulden is een land nooit ziek geworden, Volkskrant 25 juli

(2012) Euro Moet de Economie Dienen. Het Financieele Dagblad, 9 juli

(2012) Gute Schulden, Slechte Schulden (in German) Financial Times Deutschland, 13 April

(2012) Westen Moet Financiële Speculatie met Voedsel Bestrijden. Reformatorisch Dagblad, 7 Februari

(2012) De Eurocrisis in Vijf Misverstanden. NRC Handelsblad, 7 Januari

(2011) ECB moet zich garant stellen voor obligaties. De Volkskrant, 19 December

(2010) Do we Need an Accounting of Economics? Fiducie 17(2): 28-33 

(2009) Lending must support the real economy. Financial Times, 5 november

(2009) Het Vergeten Geld. NRC Handelsblad (in Dutch), 10 oktober

(2009) "No one saw this coming' - or did they? VoxEU, 30 September

(2009) Why some economists could see it coming. Financial Times, 8 September

(2009) No, c'e chi ha vista la crisi. Il Sore 24 Ore (in Italian), 9 September

(2009) Deurwaarder spelen past EU lidtstaten niet. De Volkskrant (in Dutch), 31 Augustus

 

 PUBLICATIONS

 

 INTERNATIONAL REFEREED JOURNALS

(2013) The Role of Credit in the Great Moderation: A Multivariate GARCH Approach. Journal of Banking and Finance, forthcoming, with Maria Grydaki
(2012) Incorporating the Rentier Sectors into a Financial Model. World Economic Review 1(1): 1-12, with M Hudson

(2012) The Economy as a Complex System: The Balance Sheet Dimension. Advances in Complex Systems 15(5):1-22

(2012) Democracy, Globalization and Ethnic Violence. Journal of Comparative Economics. In press, doi  10.1016/j.jce.2012.06.003

(2011) The Credit Crisis and Recession as a Paradigm Test.  Journal of Economic Issues 45(1): 1-18.

(2010) Understanding Financial Crisis Through Accounting Models. Accounting, Organizations and Society, 26: 676-688

(2010) Agricultural Employment Trends in Asia and Africa: Too Fast or Too Slow? World Bank Research Observer 25(1):57-89 , with P Hazell and D Headey

(2009) This is not a credit crisis, it's a debt crisis. Economic Affairs 29(3): 95-97

(2009) Coordination Risk And Cost Impacts On Economic Development In Poor Rural Areas, with A Dorward, J Kydd and C Poulton. Journal of Development Studies 45(7): 1093 - 1112

(2009) Colonial Institutions or Colonial Education? Explaining Long-Term African Growth, with J Bolt. Journal of Development Studies, 45(1): 24 - 54

(2008) Agriculture, Development and Urban Bias, with D Headey. World Development 36(8): 1342-1364

(2007) Poverty in Transition Countries.  East-West Journal of Economics and Business vol IX:1, pp 11-35

(2006) The Decline of Corporate Enterprises in Transitional Agriculture: Evidence from Lithuania, with D Stanikunas and R Zemeckis. Comparative Economic Studies, 48: 156-182

(2006) Regional Trade Integration and Foreign Direct Investment in Developing Countries, with DW Te Velde. Transnational Corporations , December 2006

(2005) Livelihoods and Farm Efficiency in Rural Georgia, with K. Balcombe, J. Davis and I. Fraser. Applied Economics 37(15):1737-1746

(2004) Rural Livelihoods in Armenia, with Z Lerman. Post-Communist Economies, 16 (3): 334-348

(2004) Risk and Agricultural De-Collectivisation, With Evidence from the Czech Republic. Economic Systems, 28 (1):1-21

(2003) Credit Allocation and Enterprise Structures in the Czech RepublicComparative Economic Studies (45), 25-43

(2002) De-Collectivization in Czech and Slovak Agriculture: An Institutional Explanation. Journal of Economic Issues 26(3), 1-23

(2002) Credit Markets for Post-Socialist Agriculture. Europe-Asia Studies 54 (8), 1301-1317

(2001) Post-Socialist Financial Fragility: the Case of Albania. Cambridge Journal of Economics 25(1) 1-23

 

OTHER ACADEMIC PUBLICATIONS

(2012) Lessen uit de crisis: Waarom we opnieuw moeten nadenken over geld (in Dutch) Tijdschrift voor Politieke Economie, 6(3): 1-15

(2012) Credit Cycles. In J Toporowski and J Michell (eds.) The Handbook of Critical Issues in Finance. Edward Elgar, forthcoming

(2012) Stock Flow Consistent Models: Flow of Fund Modeling Plus? In: Winkler ed. (edf.) Advances in Flow of Fund Modeling. Palgrave Macmillan, forthcoming

(2011) 'Flow of Fund Models and Financial Instability Anticipations'. In: Dejuán, O, E Febrero and C Marcuzzo (eds.) The First Great Recession Of The 21st Century: Competing Explanations. Edward Elgar, forthcoming

(2010) Innocent frauds meet Goodhart’s Law in monetary policy, with G Gardiner, Levy Institute Working Paper no. 622

(2010) The Human Costs of Financial Instability in Latvia. Forthcoming in: Tavasci, D and J Toporowski (ed.)  Minsky, Financial Development and Crisis. Palgrave MacMillan

(2008) Book review of ‘Policy Reforms and Agriculture Development in Central Asia, S. Djalalov, S.C. Babu (Eds.), Springer, Berlin. Economic Systems

(2008) Book Review of ' An East Asian Renaissance: ideas for economic growth’ by Homi Kharas & Indermit Gill, World Bank Publications, 2007. Asian-Pacific Economic Literature , forthcoming

(2007) Book Review of 'How Rich Countries Got Rich and Why Poor Countries Stay Poor’ by Erik Reinert. Journal of Development Studies, Vol.43 No.8

(2007) Book Review ‘The Evolution of Creditary Structures and Controls’, by G Gardiner, Journal of Economic Issues, XLI (3) : 888-889

(2006) ‘On Eagle’s Wings: The Albanian Economy in Transition’. Nova Science Publishers, New York. Forthcoming summer 2006

(2006) ‘The Ponzi Years: Growth But Not Development’, in: Bezemer, DJ (ed.) ‘On Eagle’s Wings: The Albanian Economy in Transition’. Nova Science Publishers, New York. Forthcoming summer 2006

(2006) ‘Introduction’, in: Bezemer, DJ (ed.) ‘On Eagle’s Wings: The Albanian Economy in Transition’. Nova Science Publishers, New York. Forthcoming summer 2006

(2005) Double Book Review of Bart Nooteboom, Trust. Forms, Foundations, Functions, Failures and Figures & Elias Khalil (Ed.), Trust, series 'Critical Studies in Economic Institutions', Journal of Socio-Economics 34(3): 421-424

(2004) Book Review of 'Consequences of Creating a Market Economy: Evidence from Household Surveys in Central Asia' by K Anderson and R Pomfret. Europe-Asia Studies, 57(7): 24-25

(2004) 'Bimodal Credit Systems in the Czech Republic'. In: Macey, D, W Pyle, and S Wegren (eds) Building Market Institutions in Post-Communist Agriculture: Land, Credit, and Assistace . Lexington Books, Lanham, MD, USA.

(2003) ‘The Rural Economy in Armenia’, with JR Davis. In: Spoor, M (ed) Transition, Institutions, and the Rural Sector, Lexington Books, Lanham, MD, USA

(2003) 'Diversification in Rural Bulgaria', with Kopeva D, S Davidova, M Gorton and H Chaplin. In: Spoor M (ed.) ‘Transition, Institutions, and the Rural Sector’, Lexington Books, Lanham, MD, USA

(2002) 'Russian Reforms: the Return of the Peasant?' In: Tavidze A (ed.): Progress in Economic Research. New York: NovaScience Publishers

(2002) 'The Post-Socialist Transformation of Agriculture in Central and Eastern Europe.' In: Tavidze A (ed.) Politics and Economics of Central and Eastern Europe. New York: NovaScience Publishers

(2001) ‘Structural Change in the Post-Socialist Transformation of Central European Agriculture’. Amsterdam: Thela Publishers

 

POLICY REPORTS

(2012) Connsequences of the Commodity Bubble. Chapter 5 in : The 2012 Commodity Report. Geneva: UNCTAD - CRAS (UNited Nations Confernecen o nTrade and Development - Commodity Research Analysis Section)

(2010) Finance for Development. Strategy paper for the Dutch Development Bank

(2007) ‘The Global Exit from Agriculture: Regional Trends and Projections’, with Peter Hazell. Background Paper to the 2008 World Development Report Agriculture and Development.

(2005) OECD Review of Agricultural Policies: China (contributor). Paris: Organisation for Economic Co-operation and Development.

(2005) ‘Official Development Assistance to Agriculture’, with Catherine Arnold and Jamie Morisson. Working Paper for Guidelines on Agricultural Policies, United Kingdom Department for International Development, London at http://dfid-agriculture-consultation.nri.org/summaries/wp9.pdf

(2005) ‘Operationalizing Pro-Poor Growth in the 1990s’ (contributed as DFID team collaborator), at http://siteresources.worldbank.org/INTPGI/Resources/342674-1119450037681/Pro-poor_growth_in_the_1990s.pdf

(2004) 'The Development of the Rural Non-Farm Economy in Developing Countries and Transition Countries: Key Emerging and Conceptual Issues', with JR Davis. Natural Resources Institute, University of Greenwich at http://econwpa.wustl.edu/eprints/dev/papers/0510/0510017.abs

(2004) 'The Rural Non-Farm Economy and Poverty Alleviation in Armenia, Georgia and Romania: A Synthesis of Findings', with JR Davis, M Janowski and T Wandschneider. Natural Resources Institute, University of Greenwich at http://ideas.repec.org/p/wpa/wuwpdc/0510018.html   

 

 

INVITED PRESENTATIONS / KEYNOTES (2010-2012)

 

'The Economics of Credit and Debt', invited session convenor at the Institute for New Economic Thinking Plenary Conference, November 2012

'the Role of Credit in Monetary Policy', invited presentation at the Money And Banking Conference Of The Central Bank Of Argentina “Central Banks, Financial Systems And Economic Development”, October 2012

'Finance and growth: When credit helps, hinders and hurts ’ Invited presentation at the Institute for New Economic Thinking Plenary Conference, April 2012, Berlin (paper included)

 ‘Is Greece Europe’s Trojan Horse?’ Invited presentation at the Nederlands Instituut in Athene, April 2012

 ‘Three Alternatives for the Current Paradigm’, Invited presentation at the ‘Inequality and Instability' Conference of The Institute for New Economic Thinking, New York, November 2011.

'Re-thinking Economics in the Light of History', invited presentation at the Winton Institute for Monetary History, Oxford, UK, June 2011 

‘Finance and the Economy: What Is the Solution, And What Was the Problem?‘, invited presentation, meeting of the EU-COST network ‘financial crisis and complexity science’, Paris, May 2011

 ‘Finance, Complexity and Balance Sheets’, invited presentation, EU-COST network ‘financial crisis and complexity science’ Vienna, December 2010

 'The Profit Puzzle', invited research seminar presentation at the School for Oriental and African Studies, London, November 2010

 'Credit, Rent and the Costs of Crisis', keynote speech at the Second Workshop on 'Managing Financial Instability, Reykjavik, September 2010

 'Understanding Financial Crisis Through Accounting Models’, invited presentation at CIBIF Workshop 'Financial Systems and the Macroeconomy, Groningen, April 2010

 'No One Saw This Coming": Understanding Financial Crisis Through Accounting Models’ invited presentation at Netherlands Bureau Of Economic Analysis, The Hague, January 2010