Andrey Zagorchev, a Finance and Economics doctoral candidate eagerly explores how current economies function globally
by Sarini Ettigi
Andrey Zagorchev at the Lehigh Academic Symposium 2009
Economy got you down? With the issues surrounding today’s economy taking center stage in both politics and media and the many lives of people worldwide, inquiry and investigation into the economy’s global impact seems only natural. Examining how financial markets operate collectively with the ever growing information technology of today is integral given the current economic climate. Such an approach to learning about economic growth and finding ways to improve global financial development is on the rise. It is with this enthusiasm and speculative interest in the world of finance that Andrey Zagorchev, a Finance and Economics doctoral candidate eagerly explores how current economies function globally.
Currently holding an M.S. in Corporate Finance and an MBA with a Concentration in Finance, Andrey will be adding to his merit a doctoral degree this May. He examines simultaneous equations for Gross Domestic Product (GDP), financial development, and investment in telecommunications as his main variables of interest. The ongoing growth of the European Union in addition to the current advances within the “euro zone” (span of countries which use the Euro as currency) drew Andrey to explore this topic further. In fact, the most exciting moment for Andrey throughout his research was finalizing this very intriguing research topic. Essentially, he addresses the evaluation of countries that have undergone privatization and harmonization with the European Union. He also evaluates the growing technology channel within a theoretical approach to finance and economic growth and recently presented work titled “The Long-Run Relation among Financial Development, Technology and Economic Growth: A Panel Cointegration Study” at Lehigh University’s Academic Symposium.
Using panel data along with what is known as a generalized method of moments (GMM) as his methodology, Andrey discovered that macroeconomic structural reforms have significant positive impacts on Gross Domestic Product through financial development and information and communications technology. He also concluded that there is a significant interaction among the variables in the context of eight Central and Eastern Europe countries that have recently joined the European Union.
Financial development and economic growth.
Working alongside his advisor, Dr. Geraldo Vasconcellos, and Assistant Professor Dr. Youngsoo Bae, Andrey describes the research process as a “great and valuable experience.” Although he met with challenges along the way during the data collection and estimation process in addition to adjusting to a different research atmosphere, Andrey submitted his article to distinguished journals for publication. Among the many national conferences and seminars attended in 2009, Andrey presented his cutting edge research at the Southwestern Finance Association in Oklahoma City, the Eastern Finance Association, Washington D.C., Eastern Economics Association, New York, and the Midwest Economics Association, Cleveland. After Andrey graduates he plans to continue his efforts in exploring other aspects of financeial economics. He also hopes to continue in his teaching endeavors and share his knowledge to other aspiring individuals in the field of economic and finance. What better way to do this than work as an Assistant Professor of finance at Concord University in West Virginia this Fall.