Natalya Naqvi
Biographic Data
| ID | 3594548 |
|---|---|
| NAME | Natalya Naqvi |
| GIVEN NAMES | Natalya |
| FAMILY NAME | Naqvi |
| SIGNATURE | NAQVI N |
| AFFILIATIONS | London School of Economics and Political Science |
| ORCID | 0000-0003-0821-070X |
| VERIFIED | Yes |
| TOTAL WORKS | 11 |
| TOTAL CITATIONS | 68 |
| AUTHOR COUNT | 11 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2015 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 6 |
Indexes, Currencies, and the Political Economy of Sovereign Bond Market Access
Inclusion in bond indexes improves emerging market (EM) government access to capital. Under what conditions do EMs enter indexes and gain the market access benefits? We find that borrower features affect index inclusion differently in domestic currency versus foreign currency bond contexts. In the higher-risk domestic currency bond context, indexes are designed to include only a small, low-risk subset of bonds, leading borrower political, institu…
Delegating Discipline
Outside of the rich world, international financial markets are thought to discipline borrowing governments by monitoring political and economic characteristics. But increasingly, asset managers do not assess individual country risk/return profiles. They replicate benchmark indexes, delegating investment decisions to index providers. This has two effects. First, it relocates market discipline into the hands of index providers. Second, it alters th…
Economic crisis, global financial cycles and state control of finance
In the aftermath of recent crisis, national governments across the global south increasingly see state ownership and control of finance as a vital public policy tool. What explains variation in state control of finance in the wake of crisis? Interventionist policies can elicit disinvestment or exit threats from private financial actors if they limit profitability. When disinvestment threats are credible, policymakers may rule out reform for fear …
Introduction
How do we theorize and analyze the structural power of finance when global capitalism itself undergoes constant and profound structural transformation? The literature continues to assume that the source of financial structural power is its unique ability to provide credit to the real economy, playing a crucial role in meeting the investment imperative. But recent research documents that most financial market activities no longer facilitate produc…
Matching Risks with Instruments in Development Banks
This paper explores how development banks should deploy appropriate financial instruments to encourage real economic risk-taking while minimizing financial engineering risks. We distinguish real economic risks from financial engineering or intermediary risks and argue that using complex financial instruments to leverage additional private financing may undermine policy steer and lead to too much risk being taken by development banks. We then expl…
Renationalizing finance for development
After years of placing faith in the markets, we are seeing a revival of interest in statist economic policy across the world, particularly with regards to finance. How much policy space do previously liberalized developing countries still have to renationalize their financial sectors by exerting direct control over the process of credit allocation, despite the constraints posed by economic globalization? Under what conditions do they actually use…
Manias, Panics and Crashes in Emerging Markets
Because of their economic importance, international bond markets are thought to be the likely location for the operation of financial market pressures on emerging market (EM) government policy. An important but unresolved debate that runs through the literature is the relative importance of domestic factors specific to the country receiving the capital flows (pull factors), versus push factors exogenous to the receiving country, in driving portfo…
Kicking away the financial ladder? German development banking under economic globalisation
While extensive literature exists on how economic globalisation has limited developing countries' policy space for industrial policy, the literature on how it has affected advanced economies remains scant. We utilise original archival material to analyse the activities of the German public development bank, the Kreditantstalt für Wiederaufbau (KfW), in order to shed light on an important, but neglected aspect of German industrial policy. We analy…
Finance and Industrial Policy in Unsuccessful Developmental States
While a large body of research indicates that state-directed finance worked for successful East Asian developers, the dominant assumption remains that countries with a weak state capacity, where corruption is rife, should not 'try this at home'. In this article, that narrative is questioned through a case study of the role of the financial sector in Pakistan, which is widely considered to be a successful case of financial liberalization, contrast…
Privatization in the Land of Believers
Despite theoretical justifications and empirical evidence that state-owned enterprises have played an important role in late development, as well as over three decades of evidence that privatization programmes since the 1980s have had mixed results at best, international financial institutions continue prescribing privatization as a panacea for developing countries. Pakistan is an interesting case to understand why privatization is still consider…
The Abject Condition of Labor in Pakistan
The strength of the trade union movement in Pakistan has ebbed and flowed over the course of the country's history, but today, after roughly twenty-five years of liberalization, deregulation, and privatization, the movement is arguably at its weakest point in recent memory
Introduction
How do we theorize and analyze the structural power of finance when global capitalism itself undergoes constant and profound structural transformation? The literature continues to assume that the source of financial structural power is its unique ability to provide credit to the real economy, playing a crucial role in meeting the investment imperative. But recent research documents that most financial market activities no longer facilitate produc…
Renationalizing finance for development
After years of placing faith in the markets, we are seeing a revival of interest in statist economic policy across the world, particularly with regards to finance. How much policy space do previously liberalized developing countries still have to renationalize their financial sectors by exerting direct control over the process of credit allocation, despite the constraints posed by economic globalization? Under what conditions do they actually use…
Manias, Panics and Crashes in Emerging Markets
Because of their economic importance, international bond markets are thought to be the likely location for the operation of financial market pressures on emerging market (EM) government policy. An important but unresolved debate that runs through the literature is the relative importance of domestic factors specific to the country receiving the capital flows (pull factors), versus push factors exogenous to the receiving country, in driving portfo…
Kicking away the financial ladder? German development banking under economic globalisation
While extensive literature exists on how economic globalisation has limited developing countries' policy space for industrial policy, the literature on how it has affected advanced economies remains scant. We utilise original archival material to analyse the activities of the German public development bank, the Kreditantstalt für Wiederaufbau (KfW), in order to shed light on an important, but neglected aspect of German industrial policy. We analy…
Delegating Discipline
Outside of the rich world, international financial markets are thought to discipline borrowing governments by monitoring political and economic characteristics. But increasingly, asset managers do not assess individual country risk/return profiles. They replicate benchmark indexes, delegating investment decisions to index providers. This has two effects. First, it relocates market discipline into the hands of index providers. Second, it alters th…
Privatization in the Land of Believers
Despite theoretical justifications and empirical evidence that state-owned enterprises have played an important role in late development, as well as over three decades of evidence that privatization programmes since the 1980s have had mixed results at best, international financial institutions continue prescribing privatization as a panacea for developing countries. Pakistan is an interesting case to understand why privatization is still consider…
Matching Risks with Instruments in Development Banks
This paper explores how development banks should deploy appropriate financial instruments to encourage real economic risk-taking while minimizing financial engineering risks. We distinguish real economic risks from financial engineering or intermediary risks and argue that using complex financial instruments to leverage additional private financing may undermine policy steer and lead to too much risk being taken by development banks. We then expl…
Finance and Industrial Policy in Unsuccessful Developmental States
While a large body of research indicates that state-directed finance worked for successful East Asian developers, the dominant assumption remains that countries with a weak state capacity, where corruption is rife, should not 'try this at home'. In this article, that narrative is questioned through a case study of the role of the financial sector in Pakistan, which is widely considered to be a successful case of financial liberalization, contrast…
Economic crisis, global financial cycles and state control of finance
In the aftermath of recent crisis, national governments across the global south increasingly see state ownership and control of finance as a vital public policy tool. What explains variation in state control of finance in the wake of crisis? Interventionist policies can elicit disinvestment or exit threats from private financial actors if they limit profitability. When disinvestment threats are credible, policymakers may rule out reform for fear …
The Abject Condition of Labor in Pakistan
The strength of the trade union movement in Pakistan has ebbed and flowed over the course of the country's history, but today, after roughly twenty-five years of liberalization, deregulation, and privatization, the movement is arguably at its weakest point in recent memory
The Abject Condition of Labor in Pakistan
The strength of the trade union movement in Pakistan has ebbed and flowed over the course of the country's history, but today, after roughly twenty-five years of liberalization, deregulation, and privatization, the movement is arguably at its weakest point in recent memory
Privatization in the Land of Believers
Despite theoretical justifications and empirical evidence that state-owned enterprises have played an important role in late development, as well as over three decades of evidence that privatization programmes since the 1980s have had mixed results at best, international financial institutions continue prescribing privatization as a panacea for developing countries. Pakistan is an interesting case to understand why privatization is still consider…
Manias, Panics and Crashes in Emerging Markets
Because of their economic importance, international bond markets are thought to be the likely location for the operation of financial market pressures on emerging market (EM) government policy. An important but unresolved debate that runs through the literature is the relative importance of domestic factors specific to the country receiving the capital flows (pull factors), versus push factors exogenous to the receiving country, in driving portfo…
Kicking away the financial ladder? German development banking under economic globalisation
While extensive literature exists on how economic globalisation has limited developing countries' policy space for industrial policy, the literature on how it has affected advanced economies remains scant. We utilise original archival material to analyse the activities of the German public development bank, the Kreditantstalt für Wiederaufbau (KfW), in order to shed light on an important, but neglected aspect of German industrial policy. We analy…
Finance and Industrial Policy in Unsuccessful Developmental States
While a large body of research indicates that state-directed finance worked for successful East Asian developers, the dominant assumption remains that countries with a weak state capacity, where corruption is rife, should not 'try this at home'. In this article, that narrative is questioned through a case study of the role of the financial sector in Pakistan, which is widely considered to be a successful case of financial liberalization, contrast…
Renationalizing finance for development
After years of placing faith in the markets, we are seeing a revival of interest in statist economic policy across the world, particularly with regards to finance. How much policy space do previously liberalized developing countries still have to renationalize their financial sectors by exerting direct control over the process of credit allocation, despite the constraints posed by economic globalization? Under what conditions do they actually use…
Matching Risks with Instruments in Development Banks
This paper explores how development banks should deploy appropriate financial instruments to encourage real economic risk-taking while minimizing financial engineering risks. We distinguish real economic risks from financial engineering or intermediary risks and argue that using complex financial instruments to leverage additional private financing may undermine policy steer and lead to too much risk being taken by development banks. We then expl…
Introduction
How do we theorize and analyze the structural power of finance when global capitalism itself undergoes constant and profound structural transformation? The literature continues to assume that the source of financial structural power is its unique ability to provide credit to the real economy, playing a crucial role in meeting the investment imperative. But recent research documents that most financial market activities no longer facilitate produc…
Delegating Discipline
Outside of the rich world, international financial markets are thought to discipline borrowing governments by monitoring political and economic characteristics. But increasingly, asset managers do not assess individual country risk/return profiles. They replicate benchmark indexes, delegating investment decisions to index providers. This has two effects. First, it relocates market discipline into the hands of index providers. Second, it alters th…
Economic crisis, global financial cycles and state control of finance
In the aftermath of recent crisis, national governments across the global south increasingly see state ownership and control of finance as a vital public policy tool. What explains variation in state control of finance in the wake of crisis? Interventionist policies can elicit disinvestment or exit threats from private financial actors if they limit profitability. When disinvestment threats are credible, policymakers may rule out reform for fear …
Indexes, Currencies, and the Political Economy of Sovereign Bond Market Access
Inclusion in bond indexes improves emerging market (EM) government access to capital. Under what conditions do EMs enter indexes and gain the market access benefits? We find that borrower features affect index inclusion differently in domestic currency versus foreign currency bond contexts. In the higher-risk domestic currency bond context, indexes are designed to include only a small, low-risk subset of bonds, leading borrower political, institu…
Economics (10 works) · Finance (7 works) · Market economy (7 works) · Business (6 works) · Political science (6 works) · Politics (6 works) · Economic policy (5 works) · Global Financial Crisis and Policies (5 works) · Economic system (4 works) · Financial system (4 works)