Research Team

The Eurasian Development Bank is a recognised leader in applied research on the Eurasian economy. The key activities of the EDB’s research team focus on macroeconomics, regional integration, and infrastructure. The results of its studies are regularly published in macroeconomic reviews describing the current state of the economies and forecasts for the economic development of the region’s countries; reports on infrastructure development; special reports; and integration-related publications.

The Research Department comprises:

  • The Centre for Macroeconomic Analysis

    The Centre analyses the economies of the Bank’s member states and projects their key macroeconomic indicators for the medium and long term. It regularly publishes macroeconomic reviews and forecasts, and participates in consultations with government authorities of the Bank’s member states. The EDB’s quarterly Macroeconomic Forecast is one of the most authoritative macroeconomic publications in Eurasia. The Centre uses structural macroeconomic models (DSGE) for all the Bank’s six member states to provide in-depth and consistent macro analysis.

  • The Centre for Integration Studies

    Established in 2011, the Centre conducts quantitative and qualitative applied research into Eurasian integration. Its breakthrough projects include Monitoring of Mutual Investments, Integration Barometer, research into non-tariff barriers in the EAEU, an analysis of the macro effects of the Eurasian Economic Union, a study on pension mobility, numerous papers on the expansion of the EAEU, and international projects with the World Bank and other international organisations. The Centre also prepares non-public reports on regional economic integration and related recommendations to the governments of the Bank’s member states. The reports and publications by the Centre for Integration Studies are available here.

  • The Centre for Infrastructure and Industrial Research

    The Centre was established in 2021 with the objective of proposing and substantiating cross-border infrastructure projects of systemic importance to the Bank’s member states. It also covers industrial cooperation. A significant part of the Centre’s work is internal and involves preparation of analyses of industries where the Bank’s investment projects are implemented. Industry reviews and other publications prepared by the Centre for Infrastructure and Industrial Research are available here.

Chief Economist Group

The Chief Economist Group is a research division of the Eurasian Fund for Stabilization and Development. The Group analyses regional and country macroeconomic trends in the EFSD region of operations, including economic growth, monetary and fiscal policies, and structural reforms in EFSD recipient states. Its focus is on debt and fiscal sustainability, based on the in-house debt sustainability analysis (DSA) framework. The Group is developing research partnerships and joint projects with international financial institutions, particularly the IMF, and other institutional partners.

Research publications by the EFSD are available on the Fund’s website in Publications.

EDB and EFSD Chief Economist

Evgeny Vinokurov (PhD, IMEMO, Moscow, and PhD, University of Grenoble II) is the EDB and EFSD Chief Economist. He has been working at the Eurasian Development Bank since 2006. From 2011 to 2018, he was the founding Director of the EDB Centre for Integration Studies.

Since 2018, he has been the Deputy Managing Director and Chief Economist at the Eurasian Fund for Stabilization and Development.

Since 2020, he has combined the functions of the EDB and EFSD Chief Economist, leading both teams.

His responsibilities include analysis of global and regional economic trends; macro- and microeconomic analysis for Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan; and organising partnerships with international financial institutions. Dr Vinokurov has authored over 160 publications on regional integration, debt and fiscal sustainability, international economic cooperation in Eurasia, infrastructure, international organisations, and international financial architecture, as well as hundreds of public reports and analytical papers for the Bank’s member states.

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2021