WIIW The Vienna Institute for International Economic Studies - Wiener Institut für Internationale Wirtschaftsvergleiche

Amat Adarov

• List of Publications
• List of Projects

Senior Research Associate

email: wiiw@wiiw.ac.at
telephone: (+43-1) 533 66 10

Amat Adarov is a non-resident Senior Research Associate at wiiw. He is a Senior Economist at the World Bank. His research focuses on international trade and finance, applied macroeconomics, economic integration and transition economies. His past professional experience includes work in academia, public and private sectors in the USA and Russia. Amat Adarov holds a Ph.D. in Economics from the University of Arkansas.

Austria, Vienna

External Publications

• 'Heterogeneous effects of non-tariff measures on cross-border investments: bilateral firm-level analysis' (with Mahdi Ghodsi), Review of International Economics, Wiley, 2022
• 'Productivity Drivers: Empirical Evidence on the Role of Digital and Intangible Capital, FDI and Integration' (with David Klenert, Robert Marschinski and Robert Stehrer), Applied Economics, Taylor & Francis, Volume 54, Issue 48, May 2022, pp. 5515-5531
• 'Implications of Foreign Direct Investment, Capital Formation and its Structure for Global Value Chains' (with Robert Stehrer), The World Economy, Volume 44, Issue 11, November 2021, pp. 3246-3299
• 'Dynamic Interactions Between Financial Cycles, Business Cycles and Macroeconomic Imbalances: a Panel VAR Analysis', International Review of Economics and Finance, Volume 74, July 2021, pp. 434-451
• 'The impact of the Eurasian Economic Union–Iran preferential trade agreement on mutual trade at aggregate and sectoral levels' (with Mahdi Ghodsi), Eurasian Economic Review, 3 January 2021
• 'Financial Cycles Around the World', International Journal of Finance and Economics, October 2020

• Capital dynamics, global value chains, competitiveness and barriers to FDI and capital accumulation in the EU (with Robert Stehrer), Publications Office of the European Union, Luxembourg, 2020

• 'Challenges of DCFTAs: How can Georgia, Moldova and Ukraine succeed?' (with Peter Havlik), Vienna Institute for International Economic Studies (wiiw), Bertelsmann Stiftung (Hrsg.) Policy Brief, 2017

• 'Productivity Drivers: Empirical Evidence on the Role of Digital Capital, FDI and Integration' (with David Klenert, Robert Marschinski and Robert Stehrer), Publications Office of the European Union, 2020
• 'Benefits and Costs of DCFTA: Evaluation of the Impact on Georgia, Moldova and Ukraine' (with Peter Havlik), Joint Working Paper, 1. Auflage, Wiener Institut für Internationale Wirtschaftsvergleiche, Bertelsmann Stiftung (Hrsg.), 2017
• 'Development of Financial Markets in Central Europe: the Case of the CE4 Countries' (with Robert Tchaidze), IMF Working Paper, 11/101, 2011
• 'Systemic Risk and Contagion in Complex Networks of Heterogeneous Banks', Working Paper, University of Arkansas, 2011
• 'International Trade and Export Specialization Dynamics: a Network Perspective' (with Raja Kali and Javier Reyes), Working Paper / Dissertation Chapter, University of Arkansas, 2010
• 'Stock Market Synchronicity and the Global Trade Network: a Random Walk Approach' (with Raja Kali and Javier Reyes), Forum for Research in Empirical International Trade FREIT Paper, No 115, 2010

wiiw Publications

• 'What does China’s Belt and Road Initiative mean for CESEE, and how should the EU respond?' (with Julia Grübler and Mario Holzner), Strong Growth Amid Increased Negative Risks, wiiw Forecast Report, No. Autumn 2018, Vienna, November 2018, pp. 50-51
• 'Special section III: A Marked Mood of Uncertainty and Risks in the CIS Region' (with Vasily Astrov and Peter Havlik), Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty, wiiw Forecast Report, No. Spring 2017, Vienna, March 2017, pp. 34-39
• 'Special section I: Oil price plunge, its causes and implications for the CESEE countries', Growth Stabilises: Investment a Major Driver, Except in Countries Plagued by Recession, wiiw Forecast Report, No. Spring 2016, Vienna, March 2016, pp. 32-36
• 'Mixed Prospects: Consumption Leads Fragile Recovery in the CESEE Core – CIS Stumbles', Mixed Prospects: Consumption Leads Fragile Recovery in the CESEE Core – CIS Stumbles, wiiw Forecast Report, No. Autumn 2015, Vienna, November 2015, pp. 1-31
• 'Special Section II: Energy prices, inflation and growth in the CESEE countries' (with Vasily Astrov and Serkan Çiçek), A Time of Moderate Expectations, wiiw Forecast Report, No. Spring 2015, Vienna, March 2015, pp. 31-40

• 'Foreign direct investment and global value chains: empirical relationship and policy implications' (with Robert Stehrer), Monthly Report No. 10/2020, wiiw Monthly Report, No. 10, Vienna, October2020, pp. 12-17
• 'ICT capital and intangibles as drivers of value-added growth' (with Robert Stehrer), Monthly Report No. 10/2020, wiiw Monthly Report, No. 10, Vienna, October2020, pp. 18-24
• 'Trade effects of Eurasian economic integration to date', Monthly Report No. 4/2019, wiiw Monthly Report, No. 4, Vienna, April 2019, pp. 7-14
• 'European financial markets ten years after the global crisis', Monthly Report No. 12/2018, wiiw Monthly Report, No. 12, Vienna, December 2018, pp. 5-8
• 'The New Silk Road: companion or competitor to the EU and the EAEU?', Monthly Report No. 7-8/2018, wiiw Monthly Report, No. 7-8, Vienna, August 2018, pp. 7-13
• 'Non-tariff barriers in the EU inhibiting DCFTA trade', Monthly Report No. 11/2017, wiiw Monthly Report, No. 11, Vienna, November 2017, p. 12-22
• 'Challenges of Eurasian economic integration', Monthly Report No. 12/2015, wiiw Monthly Report, No. 12, Vienna, December 2015, pp. 19-24
• 'Eurasian integration: implications for Armenia and Kyrgyzstan', Monthly Report No. 9/2015, wiiw Monthly Report, No. 9, Vienna, September 2015, pp. 17-22
• 'Implications of EU integration for Ukraine’s foreign trade' (with Peter Havlik), Monthly Report No. 4/2015, wiiw Monthly Report, No. 4, Vienna, April 2015, pp. 4-10
• 'Opinion corner: Financial assistance to Ukraine: will it help?' (with Vasily Astrov), Monthly Report No. 3/2015, wiiw Monthly Report, No. 3, Vienna, March 2015, pp. 2-4

• 'Foreign Investments Hit by COVID-19 Pandemic. FDI in Central, East and Southeast Europe' (with Gabor Hunya), wiiw FDI Report, No. 2020-12, Vienna, December 2020
• 'Foreign Investments Mostly Robust Despite Global Downturn; Shift into Services. FDI in Central, East and Southeast Europe' (with Mahdi Ghodsi, Gabor Hunya and Olga Pindyuk), wiiw FDI Report, No. 2019-06, Vienna, June 2019

• 'Production and Trade of ICT from an EU Perspective' (with Dimitrios Exadaktylos, Mahdi Ghodsi, Robert Stehrer and Roman Stöllinger), wiiw Research Report, No. 456, Vienna, October 2021
• 'Capital Dynamics, Global Value Chains, Competitiveness and Barriers to FDI and Capital Accumulation in the EU' (with Robert Stehrer), wiiw Research Report, No. 446, Vienna, June 2020
• 'Tangible and Intangible Assets in the Growth Performance of the EU, Japan and the US' (with Robert Stehrer), wiiw Research Report, No. 442, Vienna, October 2019
• 'The Belarus Economy: The Challenges of Stalled Reforms, Russian Version: Белорусская экономика: вызовы застопорившихся реформ' (with Kateryna Bornukova, Rumen Dobrinsky, Peter Havlik, Gabor Hunya, Dzmitry Kruk and Olga Pindyuk), wiiw Research Report, No. 413, Vienna, November 2016
• 'The Belarus Economy: The Challenges of Stalled Reforms' (with Kateryna Bornukova, Rumen Dobrinsky, Peter Havlik, Gabor Hunya, Dzmitry Kruk and Olga Pindyuk), wiiw Research Report, No. 413, Vienna, November 2016

• 'Heterogeneous Effects of Non-tariff Measures on Cross-border Investments: Bilateral Firm-level Analysis' (with Mahdi Ghodsi), wiiw Working Paper, No. 210, Vienna, September 2021
• 'Labour Taxes and International Trade: The Role of Domestic Labour Value Added' (with Mario Holzner, Branimir Jovanović and Goran Vukšić), wiiw Working Paper, No. 205, Vienna, August 2021
• 'Interactions Between Global Value Chains and Foreign Direct Investment: A Network Approach', wiiw Working Paper, No. 204, Vienna, July 2021
• 'The Impact of the EAEU-Iran Preferential Trade Agreement' (with Mahdi Ghodsi), wiiw Working Paper, No. 179, Vienna, May 2020
• 'New Productivity Drivers: Revisiting the Role of Digital Capital, FDI and Integration at Aggregate and Sectoral Levels' (with Robert Stehrer), wiiw Working Paper, No. 178, Vienna, April 2020
• 'Implications of Foreign Direct Investment, Capital Formation and its Structure for Global Value Chains' (with Robert Stehrer), wiiw Working Paper, No. 170, Vienna, November 2019
• 'Financial Cycles in Europe: Dynamics, Synchronicity and Implications for Business Cycles and Macroeconomic Imbalances', wiiw Working Paper, No. 166, Vienna, October 2019
• 'Dynamic Interactions Between Financial and Macroeconomic Imbalances: A Panel VAR Analysis', wiiw Working Paper, No. 162, Vienna, February 2019
• 'Eurasian Economic Integration: Impact Evaluation Using the Gravity Model and the Synthetic Control Methods', wiiw Working Paper, No. 150, Vienna, September 2018
• 'Financial Cycles Around the World', wiiw Working Paper, No. 145, Vienna, March 2018
• 'Financial Cycles in Credit, Housing and Capital Markets: Evidence from Systemic Economies', wiiw Working Paper, No. 140, Vienna, December 2017

• 'Backwardness, Industrialisation and Economic Development in Europe' (with Mario Holzner and Luka Sikic), wiiw Balkan Observatory Working Paper, No. 123, Vienna, June 2016

• 'Central, East and Southeast European Countries in the Global Value Chain Network', wiiw Policy Note/Policy Report, No. 51, Vienna, July 2021
• 'The Information and Communication Technology Cluster in the Global Value Chain Network', wiiw Policy Note/Policy Report, No. 50, Vienna, July 2021
• 'Challenges of DCFTAs: How can Georgia, Moldova and Ukraine succeed?' (with Peter Havlik), wiiw Policy Note/Policy Report, No. 18, Vienna, June 2017

• 'Estimation of Aggregate and Segment-specific Financial Cycles for a Global Sample of Countries', wiiw Statistical Report, No. 7, Vienna, April 2018

• 'China’s Belt and Road Initiative: opportunity or threat?', wiiw Opinion Piece, Vienna, September 2018
• 'Building bridges, not walls, across the Eurasian economic space', wiiw Opinion Piece, Vienna, November 2017
• 'Challenges of DCFTAs: How can Georgia, Moldova and Ukraine succeed?' (with Peter Havlik), wiiw Opinion Piece, Vienna, June 2017
• 'Benefits and Costs of DCFTA: Evaluation of the Impact on Georgia, Moldova and Ukraine' (with Peter Havlik), wiiw Opinion Piece, Vienna, January 2017
• 'The Belarus Economy: The Challenges of Stalled Reforms' (with Rumen Dobrinsky, Peter Havlik, Gabor Hunya and Olga Pindyuk), wiiw Opinion Piece, Vienna, November 2016
• 'wiiw Opinion corner: Will the financial assistance to Ukraine help?' (with Vasily Astrov), wiiw Opinion Piece, Vienna, April 2015

• 'Unsecured Lending in Central and Southeast Europe' (with Richard Grieveson, Mario Holzner, Olga Pindyuk and Hermine Vidovic), wiiw Market Report, No. 1, Vienna, March 2019
• 'Challenges of DCFTAs: How can Georgia, Moldova and Ukraine succeed?' (with Peter Havlik), wiiw Policy Note/Policy Report, No. 18, Vienna, June 2017
• 'Benefits and Costs of DCFTA: Evaluation of the Impact on Georgia, Moldova and Ukraine' (with Peter Havlik), Joint Working Paper, No. 2016-12, Vienna, December 2016
• 'How to Stabilise the Economy of Ukraine' (with Vasily Astrov, Peter Havlik, Gabor Hunya, Michael Landesmann and Leon Podkaminer), wiiw Background Study, No. 2015-04, Vienna, April 2015