Dr Natalya Naqvi



Natalya's research interests revolve around the role of the state and the financial sector in economic development, as well as the amount of policy space developing countries have to conduct selective industrial policy. She has previously conducted research on the role of financial markets in determining capital flows to developing countries, the privatisation and liberalisation of the banking system in Pakistan, and the role of public development banks in Korea and Germany.

Her current research investigates the political economy factors behind why despite external constraints due to financial globalisation, some countries manage to retain public control over their financial sectors in order to support industrial policy, while others are left with a financial sector that at best does not channel resources to the real economy, and at worst results in financial instability. This is done through comparative case studies of policy finance in Korea, Brazil, and Bolivia. The ultimate goal of this project is to generate policy implications about what developmental strategies are still viable for developing countries today, and whether lessons from the East Asian development experience still apply in the wake of over three decades of financial liberalisation, and the proliferation of various trade and investment agreements.