Petia Topalova

Last Updated: November 11, 2020

Petia Topalova

Petia Topalova is Deputy Chief in the Emerging Economies Unit of the European Department of the International Monetary Fund and Mission Chief for the Slovak Republic. Prior to that, she was Deputy Division Chief in the Research Department, worked in the European, and Asia and Pacific Department of the IMF, and was an Adjunct Lecturer at the Harvard Kennedy School of Government. She earned a Ph.D. in Economics from the Massachusetts Institute of Technology in 2005. Her research is in the areas of economic development and international trade.

Email: PTOPALOVA@imf.org

Fluent In: Bulgarian.

Education:

Ph.D., Economics, MIT, 2000-2005

B.A., Economics, Brandeis University, 1995-1999


Previous Experience:

IMF, European Department, Mission Chief for the Slovak Republic, 2019-current

IMF, European Department, Emerging Europe Unit, Deputy Unit Chief, 2019-current

IMF, Research Department, World Economic Studies Division, Deputy Division Chief, 2016-2019

IMF, European Department, Senior Economist (Italy), 2014-2015

Harvard University, Center for International Development, Visiting Scholar, 2012-2014

Harvard University, John F. Kennedy School of Public Policy, Adjunct Lecturer in Public Policy, 2012-2014

IMF, Research Department, World Economic Studies Division, Economist, 2010-2012

IMF, Asia and Pacific Department, Economist (India, Bhutan), 2008-2009

IMF, Research Department, Development Macro Division, Economist Program, 2006


Editorial Activities:

IMF Economic Review, Associate Editor, 2014-2015


Field of Expertise:

Poverty and Inequality

International Trade

Development Economics

IMF Books and Working Papers:

Infrastructure in Central, Eastern, and Southeastern Europe : Benchmarking, Macroeconomic Impact, and Policy Issues , Departmental Paper No.20/11 , September 28, 2020

Wage Growth and Inflation in Europe: A Puzzle? , Working Paper No. 19/280 , December 20, 2019

Weather Shocks and Output in Low-Income Countries: The Role of Policies and Adaptation , Working Paper No. 19/178 , August 16, 2019

The Price of Capital Goods: A Driver of Investment Under Threat , Working Paper No. 19/134 , June 28, 2019

Drivers of Labor Force Participation in Advanced Economies: Macro and Micro Evidence , Working Paper No. 18/150 , June 25, 2018

The Effects of Weather Shocks on Economic Activity: What are the Channels of Impact? , Working Paper No. 18/144 , June 13, 2018

A Cohort-Based Analysis of Labor Force Participation for Advanced Economies , Working Paper No. 18/120 , May 22, 2018

The Slowdown in Global Trade: A Symptom of A Weak Recovery , Working Paper No. 17/242 , November 15, 2017

Unlocking Female Employment Potential in Europe : Drivers and Benefits , European Departmental Paper 16/1 , March 01, 2016

The Refugee Surge in Europe : Economic Challenges , Staff Discussion Notes No. 16/2 , January 20, 2016

Does Public Sector Inefficiency Constrain Firm Productivity : Evidence from Italian Provinces , Working Paper No. 15/168 , July 21, 2015

The Macroeconomic Effects of Public Investment : Evidence from Advanced Economies , Working Paper No. 15/95 , May 04, 2015

Capital Flows are Fickle : Anytime, Anywhere , Working Paper No. 13/183 , August 22, 2013

The Rising Resilience of Emerging Market and Developing Economies , Working Paper No. 12/300 , December 20, 2012

Barriers to Household Risk Management : Evidence from India , Working Paper No. 12/195 , July 01, 2012

How Does Trade Evolve in the Aftermath of Financial Crises? , Working Paper No. 11/3 , January 01, 2011

Factor Immobility and Regional Impacts of Trade Liberalization Evidence on Poverty from India , Working Paper No. 10/218 , September 01, 2010

What Level of Public Debt Could India Target? , Working Paper No. 10/7 , January 01, 2010

India’s Experience with Fiscal Rules: An Evaluation and The Way Forward , Working Paper No. 09/175 , August 01, 2009

India: Is the Rising Tide Lifting All Boats? , Working Paper No. 08/54 , March 01, 2008

Trade Adjustment and Human Capital Investment: Evidence from Indian Tariff Reform , Working Paper No. 07/94 , April 01, 2007

Policies, Enforcement, and Customs Evasion: Evidence from India , Working Paper No. 07/60 , March 01, 2007

Overview of the Indian Corporate Sector: 1989-2002 , Working Paper No. 04/64 , April 01, 2004

Trade Liberalization and Firm Productivity : The Case of India , Working Paper No. 04/28 , February 01, 2004

iMFdirect Blog Posts

Central, Eastern, and Southeastern Europe After COVID-19: Securing the Recovery Through Wise Public Investment

Wanted: Policies to Encourage and Enable Work in Advanced Economies

The Unequal Burden of Rising Temperatures: How Can Low-Income Countries Cope?

Now Is a Good Time to Invest in Infrastructure

F&D articles

Women in Charge, June 2013, Vo. 50, No. 2

Selected Issue

The Italian and Spanish Corporate Sectors in the Aftermath of the Crisis

India's Corporate Sector: Coping with the Global Financial Tsunami

Rapid Private Sector Credit Growth, Macroeconomic Risks, and Financial Sector Soundness

Other Published Materials

April 2019 WEO, Chapter 3. The Price of Capital Goods: A Driver of Investment under Threat?

April 2018 WEO, Chapter 2. Labor Force Participation in Advanced Economies: Drivers and Prospects

October 2017 WEO, Chapter 3. The Effects of Weather Shocks on Economic Activity: How Can Low-Income Countries Cope?

October 2016 WEO, Chapter 2. Global Trade: What's behind the Slowdown?

October 2014 WEO, Chapter 3. Is It Time for an Infrastructure Push? The Macroeconomic Effects of Public Investment

October 2012 WEO, Chapter 4. Resilience in Emerging Market and Developing Economies: Will It Last?

April 2012 WEO, Chapter 3. Dealing with Household Debt

April 2011 WEO, Chapter 4. International Capital Flows: Reliable or Fickle?

October 2010 WEO, Chapter 4. Do Financial Crises Have Lasting Effects on Trade?

October 2007 WEO, Chapter 4. Globalization and Inequality

Publications in Journals (Refereed)

Calling Older Workers Back to Work (with Francesco Grigoli and Zsóka Kóczán), Applied Economics Letters (accepted), 2021

A Cohort-based Analysis of Labor Force Participation for Advanced Economies (with Francesco Grigoli and Zsóka Kóczán), Oxford Economic Papers (forthcoming), 2021

The Price of Capital Goods: A Driver of Investment Under Threat (with Weicheng Lian, Natalija Novta, Evgenia Pugacheva and Yannick Timmer) IMF Economic Review, vol. 68(3), pp. 509-549, September, 2020

The Effects of Weather Shocks on Economic Activity: What are the Channels of Impact? (with Sebastian Acevedo, Mico Mrkaic, Natalija Novta and Evgenia Pugacheva), Journal of Macroeconomics, vol. 65, September, 2020

Automation and Labor Force Participation in Advanced Economies: Macro and Micro Evidence (with Francesco Grigoli and Zsóka Kóczán), European Economic Review, vol. 126, July, 2020

Does Public Sector Inefficiency Constrain Firm Productivity: Evidence from Italian Provinces (with Raffaela Giordano, Sergi Lanau and Pietro Tommasino), International Tax and Public Finance, vol. 27(4), pp. 1019-1049, August, 2020

The Slowdown in Global Trade: A Symptom of a Weak Recovery (with Aqib Aslam, Emine Boz, Eugenio Cerutti and Marcos Poplawski-Ribeiro), IMF Economic Review, vol. 66(3), pp. 440-479, September, 2018

The Macroeconomic Effects of Public Investment: Evidence from Advanced Economies (with Abdul Abiad and Davide Furceri), Journal of Macroeconomics, vol. 50, pp. 224-240, December, 2016

The Rising Resilience of Emerging Market and Developing Economies (with Abdul Abiad, John Bluedorn and Jaime Guajardo), World Development, vol. 72, 1-26, August, 2015

How Does Trade Evolve in the Aftermath of Financial Crises? (with Abdul Abiad and Prachi Mishra), IMF Economic Review, vol. 62(2), 213-247, June, 2014

Barriers to Household Risk Management: Evidence from India (with Shawn Cole, Xavier Gine, Jeremy Tobacman, Robert Townsend and James Vickery), American Economic Journal: Applied Economics, vol.5 (1), pp. 104-35, January, 2013

The Power of Political Voice: Women’s Political Representation and Crime in India (with Lakshmi Iyer, Anandi Mani and Prachi Mishra), American Economic Journal: Applied Economics, vol. 4(4), pp. 165-93, October 2012

Female Leadership Raises Aspirations and Educational Achievement for Girls: A Policy Experiment in India (with Lori Beaman, Esther Duflo and Rohini Pande), Science, vol. 355(6068), pp. 582-586, February 2012

Trade Liberalization and Firm Productivity: The Case of India, (with Amit Khandelwal), Review of Economics and Statistics, vol. 93(3), pp. 995-1009, August 2011

Multi-product Firms and Product Turnover in the Developing World: Evidence from India (with Penny Goldberg, Amit Khandelwal and Nina Pavcnik), Review of Economics and Statistics, vol. 92(4), pp. 1042-1049, November 2010

Imported Intermediate Inputs and Domestic Product Growth: Evidence from India (with Penny Goldberg, Amit Khandelwal and Nina Pavcnik), Quarterly Journal of Economics, vol. 125(4), pp. 1727-1767, November 2010

Factor Immobility and Regional Effects of Trade Liberalization: Evidence on Poverty and Inequality from Indian Districts, American Economic Journal: Applied Economics, vol. 2(4), pp. 1-41, October 2010 (lead article, winner of the 2012 best paper prize)

Trade Adjustment and Human Capital Investments: Evidence from Indian Tariff Reform (with Eric Edmonds and Nina Pavcnik), American Economic Journal: Applied Economics, vol. 2(4), pp. 42-75, October 2010

Powerful Women: Does Exposure Reduce Prejudice (with Lori Beaman, Raghab Chattopadhyay, Esther Duflo and Rohini Pande), Quarterly Journal of Economics, vol. 124(4), pp. 1497-1540, November 2009

Trade Liberalization and New Imported Inputs (with Penny Goldberg, Amit Khandelwal and Nina Pavcnik), American Economic Review, vol. 99(2), pp. 494-500, May 2009

Child Labor and Schooling in a Globalizing World: Some Evidence from Urban India (with Eric Edmonds and Nina Pavcnik), Journal of the European Economic Association, vol. 7(2-3), pp. 498-507, 2009

Policies, Enforcement and Customs Evasion: Evidence from India (with Prachi Mishra and Arvind Subramanian), Journal of Public Economics, Vol. 92, Issues 10-11, pp. 1907-1925, October 2008

Publications in Books and Conference Volumes

Unlocking the Potential of Greater Female Employment in Europe (with Lone Christiansen, Huidan Lin, Joana Pereira and Rima Turk), Intereconomics, Vol. 52, Number 1, January/February 2017

Political Reservation and Substantive Representation: Evidence from Indian Village Councils (with Lori Beaman, Esther Duflo and Rohini Pande), India Policy Forum, 2010, Vol. 7, Suman Bery, Barry Bosworth and Arvind Panagariya, (eds.), Brookings Institution Press and the National Council of Applied Economic Research: Washington, DC and New Delhi

Inclusive Growth: Is the Rising Tide Lifting All Boats?, in Kochhar, K. and C. Kramer (eds.) India: Managing Financial Globalization and Growth, Business Standard 2009

Competitiveness and Exchange Rate Policy (with C. Kramer, A. Richter Hume and H. Oura), in Kochhar, K. and C. Kramer (eds.) India: Managing Financial Globalization and Growth, Business Standard, 2009

Trade Liberalization, Poverty and Inequality: Evidence from Indian Districts, in Harrison, A. (ed). Globalization and Poverty, National Bureau of Economic Research, 2007

Petia Topalova

Petia Topalova is Deputy Chief in the Emerging Economies Unit of the European Department of the International Monetary Fund and Mission Chief for the Slovak Republic. Prior to that, she was Deputy Division Chief in the Research Department, worked in the European, and Asia and Pacific Department of the IMF, and was an Adjunct Lecturer at the Harvard Kennedy School of Government. She earned a Ph.D. in Economics from the Massachusetts Institute of Technology in 2005. Her research is in the areas of economic development and international trade.

Email: PTOPALOVA@imf.org

Fluent In: Bulgarian.

Education:

Ph.D., Economics, MIT, 2000-2005

B.A., Economics, Brandeis University, 1995-1999


Previous Experience:

IMF, European Department, Mission Chief for the Slovak Republic, 2019-current

IMF, European Department, Emerging Europe Unit, Deputy Unit Chief, 2019-current

IMF, Research Department, World Economic Studies Division, Deputy Division Chief, 2016-2019

IMF, European Department, Senior Economist (Italy), 2014-2015

Harvard University, Center for International Development, Visiting Scholar, 2012-2014

Harvard University, John F. Kennedy School of Public Policy, Adjunct Lecturer in Public Policy, 2012-2014

IMF, Research Department, World Economic Studies Division, Economist, 2010-2012

IMF, Asia and Pacific Department, Economist (India, Bhutan), 2008-2009

IMF, Research Department, Development Macro Division, Economist Program, 2006


Editorial Activities:

IMF Economic Review, Associate Editor, 2014-2015


Field of Expertise:

Poverty and Inequality

International Trade

Development Economics

IMF Books and Working Papers:

Infrastructure in Central, Eastern, and Southeastern Europe : Benchmarking, Macroeconomic Impact, and Policy Issues , Departmental Paper No.20/11 , September 28, 2020

Wage Growth and Inflation in Europe: A Puzzle? , Working Paper No. 19/280 , December 20, 2019

Weather Shocks and Output in Low-Income Countries: The Role of Policies and Adaptation , Working Paper No. 19/178 , August 16, 2019

The Price of Capital Goods: A Driver of Investment Under Threat , Working Paper No. 19/134 , June 28, 2019

Drivers of Labor Force Participation in Advanced Economies: Macro and Micro Evidence , Working Paper No. 18/150 , June 25, 2018

The Effects of Weather Shocks on Economic Activity: What are the Channels of Impact? , Working Paper No. 18/144 , June 13, 2018

A Cohort-Based Analysis of Labor Force Participation for Advanced Economies , Working Paper No. 18/120 , May 22, 2018

The Slowdown in Global Trade: A Symptom of A Weak Recovery , Working Paper No. 17/242 , November 15, 2017

Unlocking Female Employment Potential in Europe : Drivers and Benefits , European Departmental Paper 16/1 , March 01, 2016

The Refugee Surge in Europe : Economic Challenges , Staff Discussion Notes No. 16/2 , January 20, 2016

Does Public Sector Inefficiency Constrain Firm Productivity : Evidence from Italian Provinces , Working Paper No. 15/168 , July 21, 2015

The Macroeconomic Effects of Public Investment : Evidence from Advanced Economies , Working Paper No. 15/95 , May 04, 2015

Capital Flows are Fickle : Anytime, Anywhere , Working Paper No. 13/183 , August 22, 2013

The Rising Resilience of Emerging Market and Developing Economies , Working Paper No. 12/300 , December 20, 2012

Barriers to Household Risk Management : Evidence from India , Working Paper No. 12/195 , July 01, 2012

How Does Trade Evolve in the Aftermath of Financial Crises? , Working Paper No. 11/3 , January 01, 2011

Factor Immobility and Regional Impacts of Trade Liberalization Evidence on Poverty from India , Working Paper No. 10/218 , September 01, 2010

What Level of Public Debt Could India Target? , Working Paper No. 10/7 , January 01, 2010

India’s Experience with Fiscal Rules: An Evaluation and The Way Forward , Working Paper No. 09/175 , August 01, 2009

India: Is the Rising Tide Lifting All Boats? , Working Paper No. 08/54 , March 01, 2008

Trade Adjustment and Human Capital Investment: Evidence from Indian Tariff Reform , Working Paper No. 07/94 , April 01, 2007

Policies, Enforcement, and Customs Evasion: Evidence from India , Working Paper No. 07/60 , March 01, 2007

Overview of the Indian Corporate Sector: 1989-2002 , Working Paper No. 04/64 , April 01, 2004

Trade Liberalization and Firm Productivity : The Case of India , Working Paper No. 04/28 , February 01, 2004

iMFdirect Blog Posts

Central, Eastern, and Southeastern Europe After COVID-19: Securing the Recovery Through Wise Public Investment

Wanted: Policies to Encourage and Enable Work in Advanced Economies

The Unequal Burden of Rising Temperatures: How Can Low-Income Countries Cope?

Now Is a Good Time to Invest in Infrastructure

F&D articles

Women in Charge, June 2013, Vo. 50, No. 2

Selected Issue

The Italian and Spanish Corporate Sectors in the Aftermath of the Crisis

India's Corporate Sector: Coping with the Global Financial Tsunami

Rapid Private Sector Credit Growth, Macroeconomic Risks, and Financial Sector Soundness

Other Published Materials

April 2019 WEO, Chapter 3. The Price of Capital Goods: A Driver of Investment under Threat?

April 2018 WEO, Chapter 2. Labor Force Participation in Advanced Economies: Drivers and Prospects

October 2017 WEO, Chapter 3. The Effects of Weather Shocks on Economic Activity: How Can Low-Income Countries Cope?

October 2016 WEO, Chapter 2. Global Trade: What's behind the Slowdown?

October 2014 WEO, Chapter 3. Is It Time for an Infrastructure Push? The Macroeconomic Effects of Public Investment

October 2012 WEO, Chapter 4. Resilience in Emerging Market and Developing Economies: Will It Last?

April 2012 WEO, Chapter 3. Dealing with Household Debt

April 2011 WEO, Chapter 4. International Capital Flows: Reliable or Fickle?

October 2010 WEO, Chapter 4. Do Financial Crises Have Lasting Effects on Trade?

October 2007 WEO, Chapter 4. Globalization and Inequality

Publications in Journals (Refereed)

Calling Older Workers Back to Work (with Francesco Grigoli and Zsóka Kóczán), Applied Economics Letters (accepted), 2021

A Cohort-based Analysis of Labor Force Participation for Advanced Economies (with Francesco Grigoli and Zsóka Kóczán), Oxford Economic Papers (forthcoming), 2021

The Price of Capital Goods: A Driver of Investment Under Threat (with Weicheng Lian, Natalija Novta, Evgenia Pugacheva and Yannick Timmer) IMF Economic Review, vol. 68(3), pp. 509-549, September, 2020

The Effects of Weather Shocks on Economic Activity: What are the Channels of Impact? (with Sebastian Acevedo, Mico Mrkaic, Natalija Novta and Evgenia Pugacheva), Journal of Macroeconomics, vol. 65, September, 2020

Automation and Labor Force Participation in Advanced Economies: Macro and Micro Evidence (with Francesco Grigoli and Zsóka Kóczán), European Economic Review, vol. 126, July, 2020

Does Public Sector Inefficiency Constrain Firm Productivity: Evidence from Italian Provinces (with Raffaela Giordano, Sergi Lanau and Pietro Tommasino), International Tax and Public Finance, vol. 27(4), pp. 1019-1049, August, 2020

The Slowdown in Global Trade: A Symptom of a Weak Recovery (with Aqib Aslam, Emine Boz, Eugenio Cerutti and Marcos Poplawski-Ribeiro), IMF Economic Review, vol. 66(3), pp. 440-479, September, 2018

The Macroeconomic Effects of Public Investment: Evidence from Advanced Economies (with Abdul Abiad and Davide Furceri), Journal of Macroeconomics, vol. 50, pp. 224-240, December, 2016

The Rising Resilience of Emerging Market and Developing Economies (with Abdul Abiad, John Bluedorn and Jaime Guajardo), World Development, vol. 72, 1-26, August, 2015

How Does Trade Evolve in the Aftermath of Financial Crises? (with Abdul Abiad and Prachi Mishra), IMF Economic Review, vol. 62(2), 213-247, June, 2014

Barriers to Household Risk Management: Evidence from India (with Shawn Cole, Xavier Gine, Jeremy Tobacman, Robert Townsend and James Vickery), American Economic Journal: Applied Economics, vol.5 (1), pp. 104-35, January, 2013

The Power of Political Voice: Women’s Political Representation and Crime in India (with Lakshmi Iyer, Anandi Mani and Prachi Mishra), American Economic Journal: Applied Economics, vol. 4(4), pp. 165-93, October 2012

Female Leadership Raises Aspirations and Educational Achievement for Girls: A Policy Experiment in India (with Lori Beaman, Esther Duflo and Rohini Pande), Science, vol. 355(6068), pp. 582-586, February 2012

Trade Liberalization and Firm Productivity: The Case of India, (with Amit Khandelwal), Review of Economics and Statistics, vol. 93(3), pp. 995-1009, August 2011

Multi-product Firms and Product Turnover in the Developing World: Evidence from India (with Penny Goldberg, Amit Khandelwal and Nina Pavcnik), Review of Economics and Statistics, vol. 92(4), pp. 1042-1049, November 2010

Imported Intermediate Inputs and Domestic Product Growth: Evidence from India (with Penny Goldberg, Amit Khandelwal and Nina Pavcnik), Quarterly Journal of Economics, vol. 125(4), pp. 1727-1767, November 2010

Factor Immobility and Regional Effects of Trade Liberalization: Evidence on Poverty and Inequality from Indian Districts, American Economic Journal: Applied Economics, vol. 2(4), pp. 1-41, October 2010 (lead article, winner of the 2012 best paper prize)

Trade Adjustment and Human Capital Investments: Evidence from Indian Tariff Reform (with Eric Edmonds and Nina Pavcnik), American Economic Journal: Applied Economics, vol. 2(4), pp. 42-75, October 2010

Powerful Women: Does Exposure Reduce Prejudice (with Lori Beaman, Raghab Chattopadhyay, Esther Duflo and Rohini Pande), Quarterly Journal of Economics, vol. 124(4), pp. 1497-1540, November 2009

Trade Liberalization and New Imported Inputs (with Penny Goldberg, Amit Khandelwal and Nina Pavcnik), American Economic Review, vol. 99(2), pp. 494-500, May 2009

Child Labor and Schooling in a Globalizing World: Some Evidence from Urban India (with Eric Edmonds and Nina Pavcnik), Journal of the European Economic Association, vol. 7(2-3), pp. 498-507, 2009

Policies, Enforcement and Customs Evasion: Evidence from India (with Prachi Mishra and Arvind Subramanian), Journal of Public Economics, Vol. 92, Issues 10-11, pp. 1907-1925, October 2008

Publications in Books and Conference Volumes

Unlocking the Potential of Greater Female Employment in Europe (with Lone Christiansen, Huidan Lin, Joana Pereira and Rima Turk), Intereconomics, Vol. 52, Number 1, January/February 2017

Political Reservation and Substantive Representation: Evidence from Indian Village Councils (with Lori Beaman, Esther Duflo and Rohini Pande), India Policy Forum, 2010, Vol. 7, Suman Bery, Barry Bosworth and Arvind Panagariya, (eds.), Brookings Institution Press and the National Council of Applied Economic Research: Washington, DC and New Delhi

Inclusive Growth: Is the Rising Tide Lifting All Boats?, in Kochhar, K. and C. Kramer (eds.) India: Managing Financial Globalization and Growth, Business Standard 2009

Competitiveness and Exchange Rate Policy (with C. Kramer, A. Richter Hume and H. Oura), in Kochhar, K. and C. Kramer (eds.) India: Managing Financial Globalization and Growth, Business Standard, 2009

Trade Liberalization, Poverty and Inequality: Evidence from Indian Districts, in Harrison, A. (ed). Globalization and Poverty, National Bureau of Economic Research, 2007