Dimitri G Demekas is Assistant Director and Chief of the Financial Sector Assessments and Policies Division of the Monetary and Capital Markets Department. He manages the Financial Sector Assessment Program (FSAP) worldwide, oversees the development of Fund policies and tools for financial sector surveillance, including stress testing and systemic risk monitoring indicators. He has led a number of FSAPs, most recently in Italy, Brazil, Russia, and the Philippines. He also coordinates the Fund’s work with the Financial Stability Board (FSB) in the area of standards implementation, and is a member of various FSB working groups.
Prior to this, he was Chief of the Southeastern European Division at the IMF’s European Department, the Fund’s coordinator for regional issues in the Balkans, and IMF representative in the G7 Working Group on the Balkans and the Stability Pact for Southeastern Europe. In his more than 20 years in the IMF, he has worked on financial sector issues in major advanced and emerging markets, and led surveillance missions and IMF program negotiations in both Western and Eastern European countries.
In 2003, he was seconded from the IMF to work as Special Advisor to the EU Presidency, covering issues related to the EU’s relations with Russia, the Western Balkans, and the Caucasus region. He was one of the main contributors to the EU’s Thessaloniki Agenda for the Western Balkans.
He holds a Ph.D. in economics from Columbia University in New York and a B.A. from the University of Athens, Greece, and has published extensively on macroeconomics, transition economies, labor markets, and the economics of post-conflict aid. For a detailed CV, visit www.demekas.com.
Personal WebPage: http://www.demekas.com
Fluent In: French, Greek, Italian, Spanish.
Ph.D. in Economics, 1988, Columbia University, New York. The Economics of Segmented Labor Markets
M.Phil. in Economics, 1986, Columbia University, New York. International Economics, Public Finance, Development Economics.
M.A. in Economics, 1983, Columbia University, New York.
B.A. in Economics cum laude, University of Athens.
IMF Books and Working Papers:
Designing Effective Macroprudential Stress Tests : Progress So Far and the Way Forward, Working Paper No. 15/146, June 30, 2015
Foreign Direct Investment in Southeastern Europe: How (and How Much) Can Policies Help?, Working Paper No. 05/110, June 01, 2005
The Economics of Post Conflict Aid, Working Paper No. 02/198, November 01, 2002
Kosovo, April 11, 2002
Government Employment and Wages and Labor Market Performance, Working Paper No. 99/55, April 01, 1999
Unemployment in Greece - A Survey of the Issues, Working Paper No. 96/91, August 01, 1996
Labor Market Institutions and Flexibility in Italy - A Critical Evaluation and Some International Comparisons, Working Paper No. 94/30, March 01, 1994
The Output Decline in the Aftermath of Reform: The Cases of Bulgaria, Czechoslovakia, and Romania, Working Paper No. 92/59, July 01, 1992
The Romanian Economic Reform Program, Working Paper No. 91/80, August 01, 1991
The Romanian Economic Reform Program, Occasional Paper No. 89, June 15, 1991
EQUILIBRIA WITH UNEMPLOYMENT IN SEGMENTED LABOR MARKETS, Working Paper No. 90/32, April 01, 1990
LABOR MARKET SEGMENTATION IN A TWO-SECTOR MODEL OF AN OPEN ECONOMY, Working Paper No. 90/33, April 01, 1990
Publications in Journals (Refereed)
"Foreign Direct Investment in European Transition Economies: The Role of Policies", Journal of
Comparative Economics, vol. 35, No. 2, 2007, pp. 369-386, (with B. Horvàth, E. Ribakova, and Y. Wu).
"Government Employment and Wages and Labor Market Performance", Oxford Bulletin of Economics and Statistics, vol. 62, No. 3, 2000, pp. 391-415 (with Z. Kontolemis).
"An Index of Coincident Economic Indicators for Estonia", Review of Economies in Transition, vol. 6, 1998, pp. 77-88 (with Ü. Lõhmus).
"Labor Market Performance and Institutions in Greece", South European Society and Politics, vol. 2, No. 2, 1997, pp. 78-109 (with Z. Kontolemis).
"Labor Market Institutions and Flexibility in Italy", Labour, vol. 9, No. 1, 1995, pp. 1-43.
"An Empirical Analysis of the Output Decline in Three Eastern European Countries", IMF Staff Papers, vol. 40, No. 1, 1993, pp. 1-31 (with E. Borenzstein and J. Ostry).
"Labor Market Segmentation in a Two-Sector Model of an Open Economy", IMF Staff Papers, vol. 37, No. 4, 1990, pp. 849-64.
"The Effects of the Common Agricultural Policy of the European Community: A Survey of the Literature", Journal of Common Market Studies, vol. 27, No. 2, 1988, pp. 113-45 (with K. Bartholdy, S. Gupta, L. Lipschitz, and T. Mayer).
"The Nature of Unemployment in Segmented Labor Markets", Economics Letters, Vol. 25, No. 1, 1987, pp. 91-4.
"Non-Traded Goods in an Asymmetric Trade Model", Journal of International Economic Integration, vol. 1, No. 2, 1986, pp. 171-83.
Other Published Materials
“Are European Emerging Markets Different?” Keynote speech to the 5th Emerging Market Workshop of the European System of Central Banks and the Austrian National Bank, Vienna, March 5-6, 2007, Austrian National Bank (forthcoming).
"Foreign Direct Investment in Southeastern Europe: What Do the Data Tell us?", in Liebscher, K.
et al. (eds.)Southeastern European Challenges and Prospects, E. Elgar, London, 2005 (with B. Horvath, E. Ribakova, and Y. Wu).
Building Peace in South East Europe: Macroeconomic Policies and Structural Reforms Since the Kosovo Conflict, Joint IMF-World Bank paper for the Second Regional Donor Conference on South Eastern Europe, International Monetary Fund, 2001 (with J. McHugh, J. Herderschee, and S. Mitra).
"Unemployment in Greece: A Survey of the Issues", European University Institute Working Paper RSC No. 97/17, European University Institute, Florence.
"The Stagnation of Manufacturing Employment in Latin America 1970-85", World Bank Discussion Paper DRD 301, 1987, World Bank, Washington, DC (with R. Klinov).
"Factor Substitution in Production in Industrialized and Less Developed Countries", World Bank Discussion Paper DRD 288, 1987, World Bank, Washington, DC (with R. Klinov).