Alexander Plekhanov

Alexander Plekhanov is Director, Transition Impact and Global Economics, at the European Bank for Reconstruction and Development in London. He edits EBRD’s annual economic report, the Transition Report, and Regional Economic Prospects. Prior to 2007, he worked at the International Monetary Fund in Washington, DC. Alexander holds a Ph.D. in Economics from the University of Cambridge.


Selected recent papers

Plekhanov, Alexander, and Marta Skrzypinska, 2022, “Cross-border spillovers from reducing non-performing loans”, EBRD Working Paper 265.

Fisman, Raymond, Sergei Guriev, Carolin Ioramashvili and Alexander Plekhanov, 2021, "Corruption and Firm Growth: Evidence from around the World", Centre for Economic Policy Research Discussion Paper 16060.

Byrne, Kieran, and Alexander Plekhanov, 2021, "Education reforms and adult skills: Evidence from Estonia", Economics of Education Review, Vol. 82, 102106. [WP version]

Gamtkitsulashvili, Tea, and Alexander Plekhanov, 2021, "Mobility and economic activity around the world during the Covid-19 crisis", Applied Economics Letters , 2001419 [WP version].

Koczan, Zsoka, and Alexander Plekhanov, 2021, "Scarred for life? Recession experiences, beliefs and the state", EBRD Working Paper 261.

Gamtkitsulashvili, Tea, Alexander Plekhanov and Alexander Stepanov, 2021, “Killing two birds with one stone? Sound investment with social impact”, EBRD Working Paper 253.

Belgibayeva, Adiya, and Alexander Plekhanov, 2019, “Does corruption matter for sources of foreign direct investment?” Review of the World Economy, Vol. 155, pp. 487-510. [WP version]

Plekhanov, Alexander, and Morten Stostad, 2018, “Modern growth in perspective: Growth outperformance since the global financial crisis”, EBRD Working Paper 214.

Plekhanov, Alexander, and Florent Silve, 2018, “Institutions, innovation and growth: evidence from industry data”, Economics of Transition, Vol. 26, pp. 335-362. [WP version]

Isakova, Asel, Zsoka Koczan and Alexander Plekhanov, 2016, “How much do tariffs matter? Evidence from the customs union of Belarus, Kazakhstan and Russia”, Journal of Economic Policy Reform, Vol. 19, pp. 166-184. [WP version]

Isakova, Asel, and Alexander Plekhanov, 2011, “Region-Specific Constraints to Doing Business: Evidence from Russia”, Aussenwirtschaft: The Swiss Review of International Economic Relations, Vol. 2011, No 2, pp. 181–210.

Berglöf, Erik, Yevgeniya Korniyenko, Alexander Plekhanov, and Jeromin Zettelmeyer, 2010, “Understanding the Crisis in Emerging Europe”, Public Policy Review, Vol. 6, pp. 985–1008.

Freinkman, Lev, and Alexander Plekhanov, 2010, “Fiscal Decentralization and the Quality of Public Services in Russian Regions”, Public Finance and Management, Vol. 10, No 1.[WP version]

Freinkman, Lev, and Alexander Plekhanov, 2009, "Fiscal Decentralization in Rentier Regions: Evidence from Russia", World Development, Vol. 37, pp. 503–12.

Plekhanov, Alexander, 2007, "Endogenous Corruption in a Federation", B.E. Journal of Economic Analysis and Policy, Vol. 7, No 1, Art. 3

Plekhanov, Alexander, and Raju Singh, 2006, "How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence", IMF Staff Papers, Vol. 53, pp. 426–52.

Chapters and edited volumes

Business unusual, EBRD Transition Report 2022-23 [editor].

System upgrade: Delivering the digital dividend, EBRD Transition Report 2021-22 [editor].

The state strikes back, EBRD Transition Report 2020-21 [editor].

Bircan, Cagatay, Zsoka Koczan and Alexander Plekhanov, 2020, “Jobs at risk: Early policy responses to COVID-19 in emerging markets”, in Djankov, S., and U. Panizza, eds, “Covid-19 in developing economies”, Centre for Economic Policy Research.

Eight things you should know about middle-income transitions, EBRD report, 2019 [editor]

Better governance, better economies, EBRD Transition Report 2019-20 [editor]

Koczan, Zsoka, Alexia Latortue, Caroline Pearce and Alexander Plekhanov, 2019, “Creating livable Cities: Emerging Europe, Central Asia and the Southern and Eastern Mediterranean”, in “Creating Livable Cities: Regional Perspectives”, Regional Development Banks’ Report.

Berglof, Erik, Sergei Guriev and Alexander Plekhanov, 2019, “The Convergence Miracle in Emerging Europe: Will it continue?”, in Faces of convergence, European Commission.

Work in transition, EBRD Transition Report 2018-19 [editor]

Chhichhia, Bandini, Sergei Guriev, Alexia Latortue, Nikola Milushev, Alexander Plekhanov and Valerijs Rezvijs, 2018, “The Future of Work in Emerging Europe and Central Asia”, in The Future of Work, Inter-American Development Bank.

Sustaining growth, EBRD Transition Report 2017-18 [editor]

Transition for All: Equal Opportunities in an unequal world, EBRD Transition Report 2016-17 [editor]

Rebalancing Finance, EBRD Transition Report 2015-16 [editor]

Innovation in Transition, EBRD Transition Report 2014 [editor]

Nikolova, Elena, Alexander Plekhanov, Gerard Roland and Jeromin Zettelmeyer, 2013, “Building better economic institutions”, Transition Report 2013, Chapter 3.

Diversifying Russia: Harnessing Regional Diversity, EBRD report, 2012 [editor]

Guriev, Sergei, Alexander Plekhanov, and Konstantin Sonin, 2012, ”Development Based on Commodity Revenues?”, in Bertrand Munier, ed., 2012, Global Uncertainty and the Volatility of Agricultural Commodity Prices, pp. 75–110.

Koczan, Zsoka, and Alexander Plekhanov, 2012, “Regional Trade Integration”, EBRD Transition Report 2012, Chapter 4.

Dahan, Frederique, Elizabeth Kirk, and Alexander Plekhanov, 2011, “Credit Information Reporting Systems”, EBRD Transition Report, pp. 34–43.

Kumar, Manmohan S., Daniel Leigh, and Alexander Plekhanov, 2007, "Fiscal Adjustments: Determinants and Macroeconomic Consequences", in Fiscal Policy: Current Issues and Challenges, Bank of Italy, pp. 247–82

Other working papers

Balgova, Maria, Alexander Plekhanov and Marta Skrzypinska, 2017, “Reducing non-performing loans: Stylized facts and economic impact”, paper presented at the American Economic Association meetings.

Georgiev, Yordan, Piroska Nagy-Mohacsi and Alexander Plekhanov, 2017, “Structural reform and productivity growth in Emerging Europe and Central Asia”, Asian Development Bank working paper 523.

Gelebo, Emil, Alexander Plekhanov and Florent Silve, 2015, “Determinants of frontier innovation and technology adoption: cross-country evidence”, EBRD Working Paper 173.

Lehne, Jonathan, Jeffrey Mo and Alexander Plekhanov, 2014, “What determines the quality of economic institutions? Cross-country evidence”, EBRD Working Paper 171.

Koczan, Zsoka, and Alexander Plekhanov, 2013, “How important are non-tariff barriers? Complementarity of infrastructure and institutions of trading partners”, EBRD Working Paper 159.

Isakova, Asel, and Alexander Plekhanov, and Jeromin Zettelmeyer, 2012, “Managing Mongolia’s Resource Boom”, EBRD Working Paper 138.

Isakova, Asel, and Alexander Plekhanov, 2012, “Customs Union and Kazakhstan’s Imports”, CASE Network Studies and Analyses 442/2012.

Commander, Simon, Zlatko Nikoloski and Alexander Plekhanov, 2011, “Employment Concentration and Resource Allocation: One-Company Towns in Russia”, EBRD Working Paper 130.

Dehesa, Mario, Pablo Druck, and Alexander Plekhanov, 2007, "Relative Price Stability, Creditor Rights, and Financial Deepening", IMF Working Paper 07/139.

Freinkman, Lev, and Alexander Plekhanov, 2005, "What Determines the Extent of Fiscal Decentralization? The Russian Paradox", World Bank Policy Research Working Paper 3710.

Plekhanov, Alexander, 2005, "Are Subnational Government Budget Constraints Soft? Evidence from Russia", European Doctoral Group in Economics Jamboree.

Plekhanov, Alexander, 2004, "Incentive Aspects of Revenue Sharing: Central and Regional Government in Russia", Cambridge Working Papers in Economics 0440.

Selected policy pieces

Bircan, Cagatay, Zsoka Koczan and Alexander Plekhanov, 2020, “Covid-19: Job displacement in emerging markets”, VoxEU, April 2020.

Koczan, Zsoka, and Alexander Plekhanov, 2020, “The Covid-19 shock: Employment in middle-income economies”, VoxEU, April 2020.

Koczan, Zsoka, and Alexander Plekhanov, 2020, “The Covid-19 Shock: Effects on the Migrant Labour Force and Remittances”, Global Human Movement Review, University of Cambridge.

De Haas, Ralph, Bojan Markovic and Alexander Plekhanov, 2017, “Reducing non-performing loans in Europe”, European Economy, Vol. 3, pp. 107-116.

Balgova, Maria, and Alexander Plekhanov, 2016, “The economic impact of reducing non-performing loans”, VoxEU, 18 November 2016.

Bircan, Cagatay, Ralph De Haas, Hans Peter Lankes and Alexander Plekhanov, 2015, Rebalancing finance, VoxEU, 10 November 2015.

Commander, Simon, and Alexander Plekhanov, 2013, “Diversifying Russia”, VoxEU, 29 January 2013.

Berglöf, Erik, Alexander Plekhanov, and Alan Rousso, 2009, “A Tale of Two Crises: Russia 1998 and 2008”, Finance and Development, Vol. 46, No 2, pp. 15–18.

Plekhanov, Alexander, 2006, "Panama: Reforms and Growth Hold Key to Reducing Inequality", IMF Survey, Vol. 35, No 12, pp. 182–83.

EBRD Regional Economic Prospects, 2013-2021 [editor]

Bittersweet recovery [November 2021]

Recovery gathering pace [June 2021]

Covid-19 Early estimates of the damage, uncertain prospects [September 2020]

Covid-19 From shock to recovery (+update) [April-May 2020]

Stalling engines of growth [November 2019]

Facing global slowdown: More exposed, better prepared? [May 2019]

In the shadow of trade conflicts [November 2018]

Has growth peaked? [May 2018]

Accelerating in sync [November 2017]

Growth picking up despite political uncertainty [May 2017]

Return to modest growth [November 2016]

Modest pick-up amid continued uncertainty [May 2016]

Economic outlook split by conflicting forces [November 2015]

In the cross-currents of diverging monetary policies and Russia's recession [May 2015]

Oil-driven Russia downturn adds to weakness in EBRD economies [January 2015]

In the heavy shadow of the Ukraine/Russia crisis [September 2014]

The Ukraine/Russia crisis weighs on transition region's growth [May 2014]

Slow recovery ahead [January 2014]

Weak growth despite Eurozone pickup [November 2013]