Çağatay Bircan

Biography

Çağatay Bircan is a Senior Research Economist at the EBRD.  Prior to joining the EBRD, Çağatay worked as a Fixed Income Strategist and Economist at Bank of America Merrill Lynch.  At EBRD, he worked both as a country economist and as research economist.

Çağatay holds a PhD in Economics from University of Michigan and his main research areas are international trade, development, and corporate finance.  His current research focuses on the effects of trade liberalisation, private equity, state-owned banks, and the funding of innovation.

Contact: bircanc@ebrd.com
Visit personal website: cagataybircan.com
Twitter: @cagataybircan

Education

2012 - Ph.D. Economics, University of Michigan
2009 - M.A. Economics, University of Michigan
2007 - B.A. Economics, German, Mathematics, Williams College

Research interests

• International Trade
• Foreign Direct Investment
• Banking
• Private Equity
• Innovation
• Productivity

Publications in journals

• The Limits of Lending? Banks and Technology Adoption Across Russia
  Review of Financial Studies, 2020, 33(2): 536-609.
  (with Ralph De Haas)
  View journal article - View EBRD WP 178 - Data
   
• Ownership Structure and Productivity of Multinationals
  Journal of International Economics, 2019, 116: 125-143.
  View journal article
   
• Violent Conflict and Inequality
  (with Tilman Brück and Marc Vothknecht)
  Oxford Development Studies, 2017, 45(2): 125-144.
  View journal article
  View IZA Discussion Paper 4990
   
• The Interest Group Theory of Financial Development: Evidence from Regulation
  (with David Hauner and Alessandro Prati)
  Journal of Banking and Finance, 2013, 37(3): 895-906.
  View journal article
  View EBRD WP 150

Working papers

• Value Creation in Private  Equity
  (with Markus Biesinger and Alexander Ljungqvist)
  View latest version
  View EBRD WP 242
  View CEPR DP 14676
   
• Lending Cycles and Real Outcomes: Costs of Political Misalignment
  (with Orkun Saka)
  View EBRD WP 225
  View LSE Systemic Risk Centre DP 85
  View BOFIT DP 1/2019
   
• Optimal Degree of Foreign Ownership under Uncertainty
  View EBRD WP 166
   
• Foreign Direct Investment and Wages: Does the Level of Ownership Matter?
  View EBRD WP 157

Policy writing and chapters in books

• Firm-level Governance
  (with Gian Piero Cigna, Pavle Djuric and Stefan Pauly)
  Chapter 3 of EBRD Transition Report 2019-20
   
• Elections and Economic Cycles: What Can We Learn from the Recent Turkish Experience?
  (with Orkun Saka)
  Chapter in I. Atiyas, I. Diwan and A. Malik (eds.), Crony Capitalism in Middle East, Oxford University Press, forthcoming.
   
• Firm Dynamics and Productivity
  (with Orkun Saka)
  Chapter 2 of EBRD Transition Report 2017-18
   
• The Middle Income Trap from a Schumpeterian Perspective
  (with Philippe Aghion)
  View EBRD WP 205
  View ADB Economics WP 521
   
• Trends and Value Creation in Private Equity
  (with Markus Biesinger)
  Chapter 3 of EBRD Transition Report 2015-16
   
• Private Equity as a Source of Growth
  (with Markus Biesinger)
  Chapter 4 of EBRD Transition Report 2015-16
   
• Finance for Innovation
  (with Ralph De Haas)
  Chapter 3 of EBRD Transition Report 2014