Dr. Heiko Hesse

Lecturer on "The Global Financial Crisis-Systemic Risk and Spillovers" on 11 May 2009

Dr. Heiko Hesse from the International Monetary Fund (IMF) in Washington DC talked on May 11, 2009 on "The Global Financial Crisis. Systemic Risk and Spillovers" and especially the extensive Q&A session after his hour long talk was greatly appreciated.

Dr. Heiko Hesse is an Economist in the Middle East and Central Asia Department at the IMF after having worked two years on the IMF’s Global Financial Stability Report. Prior to that, he was an Economist at the World Bank from 2006-2007, working on the Commission on Growth and Development, which brings together twenty-one leading practitioners from government, business and the policymaking arenas and is chaired by Nobel Laureate Michael Spence. Before that in 2005-2006, he was a Visiting Scholar at Yale University and a consultant at the World Bank. He also worked at McKinsey, NERA Economic Consulting as well as PriceWaterhouseCoopers. Some of his current research involves systemic risk, sovereign wealth funds, Islamic finance as well as spillovers to Emerging Market countries, and he regularly contributes to the economics blogs VOX and RGE Monitor. For the past two years, he also has been involved in a Bundesbank research project on banking stability in Germany.

Dr.Hesse obtained his PhD in Economics from Nuffield College, University of Oxford and his BSc in Financial Economics from the University of Essex. A native of Germany and Thailand, he is a former professional football player for Borussia Dortmund as well as one of the main actors in the German movie documentary "Die Champions" (2003) and the sequel "HalbZeit" (public release in 2010) by Adolf-Grimme-Prize Winner Christoph Huebner. In Washington DC, he is engaged in transatlantic issues as the President of the Washington European Society, an incorporated non-profit.



Selected publications


Working papers

1. Heiko Hesse & Brenda González-Hermosillo, 2009. "Global Market Conditions and Systemic Risk," IMF Working Papers 09/230, International Monetary Fund. [Downloadable!]

2. Heiko Hesse & Nathaniel Frank, 2009. "The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis," IMF Working Papers 09/206, International Monetary Fund. [Downloadable!]

3. Heiko Hesse & Nathaniel Frank, 2009. "Financial Spillovers to Emerging Markets during the Global Financial Crisis," IMF Working Papers 09/104, International Monetary Fund. [Downloadable!]

4. Tao Sun & Heiko Hesse, 2009. "Sovereign Wealth Funds and Financial Stability-An Event Study Analysis," IMF Working Papers 09/239, International Monetary Fund. [Downloadable!]

5. Heiko Hesse & Tigran Poghosyan, 2009. "Oil Prices and Bank Profitability: Evidence from Major Oil-Exporting Countries in the Middle East and North Africa," IMF Working Papers 09/220, International Monetary Fund. [Downloadable!]

6. Harald Finger & Heiko Hesse, 2009. "Lebanon-Determinants of Commercial Bank Deposits in a Regional Financial Center," IMF Working Papers 09/195, International Monetary Fund. [Downloadable!]

7. Heiko Hesse & Nathaniel Frank & Brenda González-Hermosillo, 2008. "Transmission of Liquidity Shocks: Evidence from the 2007 Subprime Crisis," IMF Working Papers 08/200, International Monetary Fund.

8. Martin Cihák & Heiko Hesse, 2008. "Islamic Banks and Financial Stability: An Empirical Analysis," IMF Working Papers 08/16, International Monetary Fund. [Downloadable!]

9. Martin Cihák & Heiko Hesse, 2007. "Cooperative Banks and Financial Stability," IMF Working Papers 07/2, International Monetary Fund. [Downloadable!]

10. Hesse, Heiko, 2007. "Monetary policy, structural break, and the monetary transmission mechanism in Thailand," Policy Research Working Paper Series 4248, The World Bank. [Downloadable!]

Published as: * Hesse, Heiko, 2007. "Monetary policy, structural break and the monetary transmission mechanism in Thailand," Journal of Asian Economics, Elsevier, vol. 18(4), pages 649-669, August. [Downloadable!] (restricted)

11. Hesse, Heiko, 2007. "Financial intermediation in the pre-consolidated banking sector in Nigeria," Policy Research Working Paper Series 4267, The World Bank. [Downloadable!]

12. Beck, Thorsten & Hesse, Heiko, 2006. "Bank efficiency, ownership, and market structure : why are interest spreads so high in Uganda ?," Policy Research Working Paper Series 4027, The World Bank. [Downloadable!]

Articles

1. Beck, Thorsten & Hesse, Heiko, 2009. "Why are interest spreads so high in Uganda?," Journal of Development Economics, Elsevier, vol. 88(2), pages 192-204, March. [Downloadable!] (restricted)

2. Heiko Hesse & Andreas (Andy) Jobst & Juan Solé, 2008. "Trends and Challenges in Islamic Finance," World Economics, World Economics, Economic & Financial Publishing, PO Box 69, Henley-on-Thames, Oxfordshire, United Kingdom, RG9 1GB, vol. 9(2), pages 175-193, April. [Downloadable!]

3. Hesse, Heiko, 2007. "Monetary policy, structural break and the monetary transmission mechanism in Thailand," Journal of Asian Economics, Elsevier, vol. 18(4), pages 649-669, August. [Downloadable!] (restricted)

Other versions: * Hesse, Heiko, 2007. "Monetary policy, structural break, and the monetary transmission mechanism in Thailand," Policy Research Working Paper Series 4248, The World Bank. [Downloadable!]

NEP Fields
9 papers by this author were announced in NEP, and specifically in the following field reports (number of papers):

1. NEP-AFR: Africa (1) 2006-10-14
2. NEP-ARA: Arab World (1) 2009-10-10
3. NEP-BAN: Banking (5) 2006-10-14 2007-05-04 2007-06-30 2008-03-01 2009-10-10 Author is listed
4. NEP-CBA: Central Banking (3) 2007-06-11 2009-10-10 2009-10-31 Author is listed
5. NEP-COM: Industrial Competition (2) 2006-10-14 2007-06-30
6. NEP-CWA: Central & Western Asia (2) 2008-03-01 2009-10-31
7. NEP-DEV: Development (2) 2006-10-14 2007-06-30
8. NEP-EFF: Efficiency & Productivity (1) 2006-10-14
9. NEP-ENE: Energy Economics (1) 2009-10-31
10. NEP-FDG: Financial Development & Growth (2) 2006-10-14 2008-03-01
11. NEP-FIN: Finance (1) 2006-10-14
12. NEP-FMK: Financial Markets (2) 2006-10-14 2009-10-10
13. NEP-MAC: Macroeconomics (2) 2006-10-14 2007-06-11
14. NEP-MIC: Microeconomics (1) 2009-10-31
15. NEP-MON: Monetary Economics (2) 2007-06-11 2009-10-31
16. NEP-RMG: Risk Management (2) 2008-03-01 2009-10-31
17. NEP-SEA: South East Asia (1) 2007-06-11