BIO

 

Erik Berglöf is Director of the Stockholm Institute of Transition Economics (SITE) at the Stockholm School of Economics and President of the Center for Economic and Financial Research (CEFIR) in Moscow. He is also a Programme Director at the Centre for Economic Policy Research (CEPR) in London. He was previously assistant professor at ECARE, Université Libre de Bruxelles, and he has held visiting positions at Stanford University. Erik Berglof’s academic work focuses mainly on financial contracting, corporate governance and financial development, but he has also written extensively on EU reform. He has served as special advisor to the Prime Minister of Sweden and on several government commissions and EU-related panels. In addition, he has been a consultant to international organizations such as the World Bank, OECD and the IMF, and currently serves as team director of the Independent Policy Initiative at Columbia University. Previously, he also directed the Russian-European Centre for Economic Policy (RECEP) in Moscow.

 

CURRCIULUM VITAE

ERIK BERGLÖF

Stockholm Institute of Transition Economics (SITE)
Stockholm School of Economics, Box 6501, S-113 83 STOCKHOLM, SWEDEN,
Ph: (468)7369676, fax: (468)316422, erik.berglof@hhs.se

CURRENT POSITIONS

1996-:          Director/Head, Stockholm Institute of Transition Economics (SITE);
                   Professor, Stockholm School of Economics.
2000-:          President, Center for Economic and Financial Research (CEFIR), Moscow.

 OTHER ACADEMIC POSITIONS

2002-03:       Visiting Research Fellow, DEC/ECAVP, World Bank.
1998-99:       Fellow, Center for Advanced Study in the Behavioral Sciences, Stanford University.
1995-96:       Visiting Assistant Professor/Visiting Scholar, Economics Dept, Stanford University.
1991-96:       Assistant Professor, ECARE, Université Libre de Bruxelles.
1988-89:       John P. Olin Resarch Fellow, Law & Economics Program, Harvard Law School.
1987-88:       Fulbright Scholar, Sloan School of Management, M.I.T.
1982-83:       Visiting Student, University of California, Berkeley.

OTHER PROFESSIONAL EXPERIENCE

1982:           Special Advisor, Ind. Policy/Physical Planning, Prime Minister's Office, Sweden.
1979-82:         Researcher, Institute of East Economic Affairs, Stockholm.

 EDUCATION

1991:           Ph.D., Department of Financial Economics, Stockholm School of Economics.
1986:           M.A. in Economics, Stockholm School of Economics.
1977:           Army School for Interpretors (Russian).

RELATED EXPERIENCE

2003-:          Associate Editor, Review of Finance
2003-:          Associate Editor, Journal of Comparative Economics.
2002-:          Director, Bankruptcy Task Force, Initiative for Policy Dialogue, Columbia Univ.
2001-:          Programme Director, Institutions and Economic Performance, CEPR, London.
2000-:          Member of Editorial Board, Economics of Transition.
1996-:          Initiator and Editor, Transition Economics Abstract Series (TEASE), SSRN
1997-2000:   Director/Head, Russian-European Centre for Economic Policy (RECEP), Moscow.
1995-97:       Team Leader, RECEP R50, policy advice to Russian government, Moscow.

HONORS AND GRANTS

Honors: Centre for Economic Policy Research (CEPR), Program Director (2002-); Fellow (1995-), Affiliate (1993-95); European Corporate Governance Institute, Inaugural Fellow (2002-); Member, Economic Policy Panel (2000-2001); William Davidson Institute Fellow, University of Michigan (1997-); European Economic Association Annual Meeting, Member Organizing Committee (95,96, 01,02), European Science Foundation Workshop on Economic Theory and Financial Markets (1991-95, 97,00,02), NBER Summer Workshop, Corporate Finance (1998); "CR:s Ekonomipris" for best thesis in Sweden during academic year (1991).

 Research grants: European Union Research and Training Network 2004-2007 (European Corporate Governance Training Network), European Union Research and Training Network 2000-2003 (scientific coordinator: Understanding Financial Architecture); PHARE-ACE, European Union (1997-99, 1999-); TACIS-ACE, European Union (1997-1999); Bank of Sweden Tercentenary Fund (1991-94, 1998-99); Johnson Foundation (1996-97); F.N.R.S., Belgium (1994-96); Swedish National Foundation for Advancement of Social Sciences and Humanities (HSFR) (1987-99, 1996-98).

 Member: Swedish Development Minister’s Expert Group on Development Issues (2003-); Founding Fellow, European Corporate Governance Institute (2002-);  Board of Stockholm School of Economics, Riga (Swedish government’s representative; 2001-2003) and SSE St Petersburg (2003-); Commission on the Competitiveness of the Swedish Financial System (1998-2000); International Advisory Board, Economics Education and Research Consortium/Russia (1998-); International Advisory Board, New Economic School, Moscow (1997-); Swedish Foreign Minister’s Reference Group on European Issues (1997-2000); Coordinating Committee and Academic Advisory Board, European Corporate Governance Network (1996-2000); Academic panel evaluating the internal market, DGII and DGXV, European Commission (1995-1996)

Invited Expert: World Economic Forum (Salzburg 2001 and 2002, Moscow 2001 and 2003, New York 2002, and Davos 2003); China Development Forum (2003); International Monetary Fund (2000 and 2002); World Bank (ABCDE Conference, 1999 and 2000; World Development Report 2000, Corporate Governance in Transforming Economies); Economic Advisory Group DGIII, European Commission (1997); Commission on the Banking Crisis, Ministry of Finance (1994-95), Commission on Ownership and Control, Ministry of Industry, Stockholm (1987-89).

 Referee: American Economic Review, European Economic Review, International Review of Law and Economics, Journal of Comparative Economics, Journal of Development Economics, Journal of Economic Literature, Economic Policy, Economics of Transition, Journal of Finance, Journal of Financial Intermediation, Quarterly Journal of Economics, Rand Journal of Economics, Review of Economic Studies, Journal of Law, Economics & Organization, Journal of Development Economics.

SELECTED PUBLICATIONS

Articles in Refereed Journals

Berglöf,  E. and M. Burkart, 2003, “European Takeover Regulation”, Economic Policy.Vol. 36, 172-213.
Berglöf, E. and P. Bolton, 2002, “The Great Divide and Beyond – Financial Architecture in Transition,” Journal of Economic Perspectives.
Baldwin, R., E. Berglöf, F. Giavazzi and M. Widgrén, 2002, “Eastern Enlargement and ECB Reform,”Scandinavian Economic Policy Review.
Berglöf, E. and G. Roland, 1998, “Soft Budget Constraints and Banking in Transition,” Journal of Comparative Economics, 26, 18-40.
Berglöf, E., 1997,  “Corporate Governance Reform - Redirecting the European Agenda,” Economic Policy, April, 24, 91-124.
Berglöf, E. and Gerard Roland, 1997, “Soft Budget Constraints and Credit Crunch in Financial Transition,” European Economic Review, 41.
Berglöf, E. and G. Roland, 1995,”Bank Restructuring and Soft Budget Constraints in Financial Transition,” Journal of Japanese and International Economies, 9, pp.354-375.
Berglöf, E. and E.-L. von Thadden, 1994, "Short-Term Interests vs. Long-Term Interests: Capital Structure with Multiple Investors," Quarterly Journal of Economics, CIX, pp. 1055-1084.
Berglöf, E. and E. Perotti, 1994, "Corporate Governance Structure of the Japanese Financial Keiretsu," Journal of Financial Economics, 36, pp. 259-284.
Berglöf, E., 1994, "A Control Theory of Venture Capital", Journal of Law, Economics and Organization, 10, pp. 247-267.

 Books and Reports

Berglöf, E., Andrey Kounov, Julia Shvets and Ksenia Yudaeva, 2003, The New Political Economy of Russia?, MIT Press.
Berglöf, E., Barry Eichengreen, Gerard Roland, Guido Tabellini, and Charles Wyplosz, 2003, Built to Last – A Political Architecture for Europe, CEPR, Monitoring European Integration (forthcoming).
Söderström, H., Erik Berglöf, Bengt Holmström, Peter Högfeldt, and Eva Meyerson-Milgrom, 2003, Ägarmakten utmanad, Center for Business and Policy Studies, Stockholm (in Swedish).
Baldwin, R., E. Berglöf, F. Giavazzi and M. Widgrén, 2001, “Preparing the ECB for Enlargement,” Centre for Economic Policy Research Policy Paper.
Baldwin, R., E. Berglöf, F. Giavazzi and M. Widgrén, 2001, Nice Try – Should the Treaty Be Ratified?, Monitoring European Integration 11, Centre for Economic Policy Research, forthcoming.
Berglöf, E. and G. Roland, 2000, “From Regatta to Big Bang: The Political Economy of EU Accession,” IMF Working Papers.
Berglöf, E. and E. Perotti, 2000, “Do We Need A Baltic Investment Bank?” Baltic Development Forum.
Berglöf, E. and R. Vaitalingam (eds.), 1999, Stuck in Transit: Rethinking Russian Economic Reforms, Blackwell Publishers.
Berglöf, E. and G. Roland, 1997, EU as an Outside Anchor, Swedish Government Commission on the Consequences of Eastern Enlargement of the European Union.
Anderson, R., E. Berglöf, and K. Miszei, 1996, Financial Sector Development in Central and Eastern Europe, Centre for Economic Policy Research/Institute for East-West Studies.
Berglöf, E., 1991, Corporate Control and Capital Structure - Essays on Property Rights and Financial Contracting, IIB/EFI.
Berglöf, E., 1988, Ownership and Control in the Firm - A Comparative Study of Six Financial Systems, Statens Offentliga Utredningar, SOU 1988:38 Ministry of Industry. (in Swedish).
Berglöf, E. et al. (eds.), 1981, China - the World's Greatest Developing Country, Institute of Economic Research, Stockholm. (300 p.) (in Swedish).

Contributions to Books

Berglof, E., and A. Pajuste, 2003, “Corporate Governance in Central and Eastern Europe,” in P. Cornelius and B. Kogut, Global Competitiveness and Corporate Governance, Oxford University Press.
Agnblad, J., E. Berglöf, P. Högfeldt and J. Svancar, 2001, “Ownership and Control in Sweden: Strong Controlling Owners, Weak Minorities, Social Control,” in Barca and Becht (eds.) The Control of Corporate Europe, Oxford University Press.
Berglöf, E. and Ernst-Ludwig von Thadden, 2000, “The Changing Corporate Governance Paradigm,” in Pleskovic and Stiglitz (eds.) World Development Conference, The World Bank.
Berglöf, E., 2000, “Corporate Restructuring in Transition – What Have We Learned?” in Backé (ed.), Completing Transition – The Challenges Ahead.
Berglöf, E. and H. Sjögren, 1998, “Combining Control-Oriented and Arm’s-Length Finance - Evidence from Main Bank Relationships in Sweden,” in Hopt et al (eds.) Comparative Corporate Governance, Oxford University Press.
Berglöf, E., 1997, “Corporate Governance, Financial Systems and the Transition to Capitalism - Towards a Conceptual Framework, “ in John Roemer (ed.) Property Rights, Incentives and Welfare, London : MacMillan Press.
Berglöf, E., 1996, “Corporate Governance,” in Benn Steil (ed.) The European Equity Markets, The Royal Institute of International Affairs, pp.147-184.
Berglöf, E., 1995, “Corporate Governance in Transition Economies : The Theory and Its Implications”, in Masahiko Aoki and Hyung-Ki Kim (eds.) Corporate Governance in Transition Economies - Insider Control and The Role of Banks, World Bank.
Berglöf, E., 1993, "Ownership of Equity and Corporate Governance," in Baums and Buxbaum (eds.), Institutional Investors and Corporate Governance, Berlin: Walter Gruyter & Co, pp. 311-328.
Berglöf, E., 1990, "Capital Structure as a Mechanism of Control: A Comparison of Financial Systems", in Masahiko Aoki, Bo Gustavsson, and Oliver Williamson, (eds.), The Firm as a Nexus of Treaties, European Sage.

Comments and Brief Notes

Berglöf, E., 2003, “More Direct Accountability to European Citizens,” European Affairs.
Berglöf, E., 2001, “The Nice Treaty Should Be Revised – And Ratified,” European Affairs.
Berglöf, E., 2001, “Comments on Jeremy Edwards, ‘Corporate Governance in Germany’,” Economic Policy,”.
Berglöf, E., 1999, “A Comment on the Washington Consensus and the Transition Experience,“ in Kochendoerfer and Pleskovic (eds.), Development Issues in the 21^st Century, The World Bank.
Berglöf, E., 1999, “Comments on Joe Stiglitz, “Bankruptcy Laws: Some Elementary Economic Principles,” Governance, Equity and Global Markets, The World Bank.
Berglöf, E., 1998, “A Note on the Typology of Financial Systems,” in Klaus Hopt and Eddy Wymeersch (eds.) Comparative Corporate Governance, Berlin: Walter Gruyter & Co.

Working Papers

Berglöf, E., and Howard Rosenthal, 2004, “Power Rejected: Congress and Bankruptcy in the Early Republic”, mimeo, Princeton University
Berglöf, E., M. Burkart and G. Friebel, 2002, ”Clubs-in-Clubs – Club Enforcement Under Unanimity,” mimeo, SITE, Stockholm School of Economics.
Berglöf, E., and Howard Rosenthal, 2003, “The Political Origin of Investor Protection: The Case of U.S. Bankruptcy Law”, mimeo, Princeton University (submitted to Journal of Financial Economics).
Berglöf, E., G. Roland and E.–L. von Thadden, 2003, “Bankruptcy and Debt Structure,” mimeo, Stockholm School of Economics (submitted to Journal of Political Economy).
Berglöf, E. and P. Bolton, 2002, “Law Enforcement, Fiscal responsibility and Financial Development,” mimeo, Princeton University (presented at the IIES/Bank of Sweden Conference May 2002 and at the CEPR/WDI Annual World Conference on Transition in Riga, June 2002).
Berglöf, E., Howard Rosenthal and Ernst-Ludwig von Thadden, 2001, “The Formation of Legal Institutions for Bankruptcy: A Comparative Study of the Legislative History.” Background paper for the World Development Report, The World Bank.
Baldwin, R, E.Berglöf, F. Giavazzi and M. Widgrén, 2000, “EU Reforms for Tomorrow’s Europe,” Centre for Economic Policy Research Discussion Paper, DP2623.
Berglöf, E., and H. Rosenthal, 1999, From Debtor Prison to Chapter 11: The Legislative History of US Bankruptcy Law, book manuscript (in progress).

 

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