Associate
Professor, Rector of New Economic School
CEO, CEFIR
Office 1721-6
Nakhimovsky pr. 47
Moscow 117418, Russia
Tel: (+7-495) 129 - 3844, 129-1700,
ext.122
Fax: (+7-495) 129 - 3722
E-mail: sguriev(at)nes.ru
Homepage: http://www.nes.ru/~sguriev/
Teaching
at NES
see homepage
for all teaching activities
Contract
theory 1,2; Microeconomics 2,3,4,5,6; Topics in Development Economics
Profile
Sergei
Guriev joined the New Economic School in 1998 doing research, teaching and administering
NES Outreach Activities
and later becoming NES Vice-Rector for Strategic Development
(2002) and Rector (2004). In 1999, Mr. Guriev has become the first NES full-time
permanent faculty member. Sergei Guriev teaches graduate courses in microeconomic
theory, economics of development and contract theory. Sergei Guriev has published
in Russian and international journals, including American Economic Review,
Journal of European Economic Association, and Journal of Economic Perspectives
and presented in the leading international conferences in economics.
Sergei
Guriev got his Masters degree in Economics and Computer Science from Moscow Institute
of Physics and Technology in 1993 (summa cum laude, one year in advance). In 1993-1997,
Mr. Guriev worked in the Department of Mathematical Modelling of Economic Systems
of the Computing Center of Russian Academy of Science, where he got his PhD in
1994. Dr. Guriev has taught in Moscow Institute of Physics and Technology, Moscow
State University and University of Colorado at Denver. In 1997-98, Mr. Guriev
visited the Department of Economics at Massachusetts Institute of Technology for
a one-year post-doctoral placement. In 2001, Sergei Guriev defended a habilitation
thesis at Central Economics and Mathematical Institute of Russian Academy of Science
becoming one of youngest Doctor of Science in economics in Russia. In 2003-04,
Sergei Guriev taught at Princeton University as a Visiting Assistant Professor
of Economics. In 2004, Sergei Guriev has been promoted to the tenured Associate
Professor of Economics at NES. Since 2005, he is also a CEO of the Center of the
Economic and Financial Research at NES.
Research
see homepage
for detailed list of publications and other activities
Sergei
Guriev is working on several research and policy projects in the fields of labor
mobility, corporate governance, incomplete contracts, theory of red tape and corruption.
In
his work with Guido Friebel of SITE and IDEI, Toulouse, Sergei Guriev has studied
interregional labor mobility under financial constraints and attachment strategies
the firms use to restrict mobility (the paper was published in the World Bank
Economic Review). The main finding was that firm that possess market power
strategically use fringe benefits, wage arrears and inkind payments of wages to
attach worker to the local labor market. The paper presented the theory and provided
empirical evidence using representative survey of Russian households. In 2000,
for this work Guido Friebel and Sergei Guriev were awarded the Gold Medal for
Best Research on Institutional Dimensions of Market Economy by the Global Development
Network, with selection committee chaired by Joseph Stiglitz. The co-authors have
started other projects on explaining the illegal immigration of workers from transition
and developing economies to OECD countries. The main motivation of the project
is to understand the economics of sweatshops and bonded labor that is prevalent
in immigrant communities upon arrival to the host country. The analysis yields
counterintuitive results on the impact of naturalization policies on the flows
and skill composition of immigration: more lenient legalization policies undermine
the human smuggling business and therefore reduce illegal immigration of low-skilled
workers. This paper is published in the Journal of European Economic Association
and has also been awarded the First Place Medal for the Best Research Outstanding
Research on the Conflict, Security, and Migration by the Global Development Network.
In a related paper (published in Economics of Transition, 2004) with Yuri
Andrienko (CEFIR), Sergei Guriev studies the determinants of internal migration
in Russia using official region-level data on gross migration flows and finds
strong evidence of importance of financial constraints in interregional mobility.
Sergei
Guriev also works on corporate governance in developing and transition economies.
Since 2003, jointly with Patrick Bolton (Princeton), Sergei Guriev co-directs
the Corporate Governance Taskforce in the International Policy Dialogue, an international
policy advice initiative launched by Joseph Stiglitz (Columbia University). Jointly
with Olga Lazareva, Andrei Rachinsky and Sergei Tsouhlo, Sergei Guriev is studying
the links between ownership concentration, corporate governance and investment
in Russian industry using a unique dataset of 1000 Russian industrial firms (a
version of the paper was published in Problems of Economic Transition).
Using yet another dataset, Sergei Guriev and Andrei Rachinsky study ownership
concentration at the firm level, industry level and national level in Russian
economy, and analyze the effect of ownership structure on corporate performance
and investment; the first paper under this project was published in the Journal
of Economic Perspectives.
Sergei
Guriev also pursues two theoretical projects in the field of corporate governance
and finance. The paper with Guido Friebel studies the relationship between transparency
toward outside investors and efficiency of the internal structure of the corporation.
The paper with Dmitriy Kvassov examines the effect of imperfect competition in
financial markets on the capital structure of companies and valuation of corporate
stock under asymmetric information.
Sergei
Guriev also works on the theory of incomplete contracts. His first paper in this
field, accepted for publication in the Berkeley Electronic Journals in Economic
Theory, studies the optimal allocation of property rights in the case of cross-investments.
Jointly with Dmitry Kvassov (Pennsylvania State University), Dr. Guriev also pursues
an innovative research agenda of studying contracts on time studying how contracting
parties can provide incentives for specific investments under renegotiation via
choosing optimal contract duration and the length of unilateral termination notice.
The first paper in this project is published in the American Economic Review.
In a paper with Sudipto Bhattacharya, Sergei Guriev studies the effect of contractual
incompleteness on organizational form of research and development; the first paper
is invited for resubmission for the Journal of European Economic Association.
Sergei
Guriev has been also working on policy relevant projects. He is currently a team
leader in a large project on modeling migration in Russia led by the Center for
Strategic Research, in a project on building a system of evaluating impact of
the structural reforms for the World Bank and the Government of Russian Federation,
and a project on restructuring the governance of government research institutions
for the Ministry of Education and Science.
In
2001, Sergei Guriev co-directed a joint CEFIR-Club2015 project on Russia's WTO
accession. The goal of the project was to summarize and raise the level of the
public debate on the issue. In 2003, Sergei Guriev has directed CEFIR project
on restructuring Russia's railroads which produced the alternative proposal for
reforming railroads in Russia. In 2002, he also co-directed the project on Development
of Unemployed Profiling Procedures as a Basis for Planning and Implementation
of Active Labor Market Programs carried out by CEFIR research team for the Ministry
of Labour and Social Development RF. In 2001, Sergei Guriev co-directed a NES-CEFIR
project on structural adjustment of Russian economy commissioned by the Ministry
of Economic Development and Trade.
Since
2007, Sergei Guriev is running a monthly column in Forbes Russia. In 2003-05,
he has also been a biweekly columnist for the leading Russian business daily Vedomosti
and has also contributed occasional columns to the New York Times, Smart Money,
Moscow Times, and Expert.
