Evgeny Vinokurov
Vinokurov, Evgeny is a Russian economist, currently serving as the Chief Economist at Eurasian Development Bank. His research is in macroeconomics, infrastructure, regional integration, global financial and economic architecture, and international organizations.
He holds a Ph.D. in economy from the Institute of World Economy and International Relations of the Russian Academy of Sciences, Moscow; a Ph.D. from Pierre Mendes-France University, and M.iur. from Göttingen University.
After several years of experience in applied economy research projects at the Centre for European Policy Studies, Catholic University of Leuven and the University of Jena he proceeded to working with the Eurasian Development Bank, being responsible for macro- and sectoral analysis in particular, as well as the development bank's nascent research program.
Founding director of the EDB Centre for Integration Studies since 2011 until 2018. Over these years, EDB Centre for Integration Studies has published 50 reports on such issues as Eurasian integration, macroeconomics, investments, trade, cross-border infrastructure, labour migration and remittances, and the public perception of integration. All of the Centre’s reports are publicly available, open-access resources.
Since 2018 Vinokurov served as the Chief Economist of the Eurasian Fund for Stabilization and Development. The EFSD primarily provides budget and balance of payment support loans as well as large-scale infrastructure investment loans to its member states. The Chief Economist Group provides research in macro- and microeconomic issues with the focus on macroeconomic stability, fiscal sustainability, and debt sustainability of the EFSD member states. It also covers global and regional economic trends and various issues related to the global economic and financial architecture.
Since 2023 he is Vice Chairman and Chief Economist at the Eurasian Development Bank responsible for economic analysis, knowledge creation and management, international relations, ESG, and EDB Academy.
Vinokurov is the author and editor of 19 books, and a member of such professional bodies as International Studies Association and the American Economic Association.
Academic Interests
He devoted several years to studying enclaves and exclaves. The main research findings are reflected in the books "A Theory of Enclaves", "Kaliningrad: Enclaves and Economic Integration", and "Adapting to European Integration? The Case of the Russian Exclave Kaliningrad". "A Theory of Enclaves" was also published in Russian. The study is built on the analysis of an extensive database that covers over 280 enclaves and exclaves. Enclaves are a fairly frequent phenomenon. The role of the enclaves as a generator of conflicts between motherland and surrounding states is of particular interest. A theory of enclaves provides the answers to two fundamental questions: what factors determine the enclaves' sovereign belonging and what economic policies can ensure their successful sustainable economic development.Starting from 2003, Vinokurov has been engaged in studying economic and political integration. His interest in the Russian-European vector led to the publication of the book "The CIS, the EU, and Russia: The Challenges of Integration". Since 2006, while working in the EDB, Vinokurov focused on the issues of economic integration in the post-Soviet space and Eurasia. In 2007 Vinokurov became the Editorial Board member of the International Journal of Economic Policy in Emerging Economies. In 2008 he launched and became the editor of the and the quarterly research and analytical, published by the EDB until 2013 and 2015, respectively.
In 2009 he headed the international research group and published the EDB System of Indicators for the Eurasian Integration, a complex system of comprehensive monitoring of statistics and dynamics of regional integration in the CIS region with the use of a specialized economic toolkit. Together with A. Libman they also developed a theory of holding-together regionalism to explain the patterns of regional re-integration processes.
His research focused on integration processes on the Eurasian continent, spanning the European Union, the Eurasian Economic Union, Central Asia, Eastern Asia, and South Asia. In a nutshell, it provides a coherent view of Eurasian continental integration. The concept of Eurasian continental integration was the subject of the book "Eurasian Integration: Challenges of Transcontinental Regionalism", written together with A. Libman.
"Re-Evaluating Regional Organizations: Behind the Smokescreen of Official Mandates", was also co-authored with A. Libman and published by Palgrave Macmillan in 2017. It introduces the new database of 62 regional international organizations with up to 130 various parameters for each one of them. This monograph pursues two research questions: first, why do regional organizations demonstrate such remarkable resilience even when they do not achieve their declared goals? Second, what factors actually determine the goal-setting and how do they evolve over the life of the regional organization?
“Introduction to the Eurasian Economic Union”, was published by Palgrave Macmillan in 2018. It represents a concise survey of various aspects of the functioning of the EAEU – from its history and institutions to the analysis of the common markets and the external economic relations. “One Eurasia or Many? Regional Interconnections and Connectivity Projects on the Eurasian Continent”, a book on the institutional cooperation setting and connectivity across the Eurasian continent, was written together with A. Libman and published by George Washington University in 2021. A comprehensive handbook, “The Elgar Companion to the Eurasian Economic Union”, followed in 2024.
In “The Economy of Central Asia: A New Look”, Vinokurov argued that the economic role and prospects of Central Asia were not yet fully understood due to inertia. Over the past 20 years, the GDP of Central Asian countries has increased sevenfold. The region is countering its landlocked status by building transport corridors and pipelines not only in the traditional east-west direction, but also in the north-south direction, reaching South Asia and the Arab Gulf. A series of fundamental studies on Central Asian energy, water, irrigation and transport corridors complemented “The Economy of Central Asia…” and paved the way for better management of common Central Asian challenges.
In a series of publications, the EDB research team led by Vinokurov formulated the concept of the Eurasian Transport Network. The ETN is a system of interconnected latitudinal and longitudinal international transport corridors and routes that facilitate intra- and transcontinental connectivity. Building upon over 50,000 km of existing east-west and north-south transport corridors, it links Asia, Europe, and the Middle East. There are two main ideas behind the concept. Firstly, the new North-South routes should complement the well-established East-West connections by linking Eurasia to South Asia and the Gulf. Secondly, such interconnections generate synergies, which could result in up to 40% additional freight traffic.
Following the exposure of systemic weaknesses in the global financial architecture by the 2020 COVID pandemic, Vinokurov and Levenkov proposed a revision of the Global Financial Safety Net. The GFSN consists of national reserves, the IMF, bilateral swap arrangements, and regional financial mechanisms. The essence of the proposed concept of an Enlarged GFSN is to add two elements: anti-crisis financing from multilateral development banks and bilateral financial support. It also aims to ensure the coordination of financing provision across all six sources, a need which became evident when ensuring macroeconomic stability in the face of the pandemic.
In a series of subsequent papers, Vinokurov and Grichik proposed a radical change to the current international reserve system. The underlying issue is a loss of trust in the current reserve management system. They called for security to be chosen as the underlying guiding principle. They listed 12 options ranging from current trade-offs to outright revolutionary approaches. The first group implies that countries could expand their use of existing instruments, such as investments in gold and renminbi, and increase their network of swap arrangements. The second group of options calls for the introduction of new mechanisms for international reserve functions, such as the accumulation of physical resources and private cryptocurrencies, the issuance of stablecoins by central banks, and the building up of assets in regional financing arrangements. The third group includes options to shift to the energy standard paradigm, establish a synthetic international currency, or form a macroeconomic paradigm in which infrastructure investment would be the preferred means of securing future economic stability.
Publications
Books
Libman A., Vinokurov E. . Edward Elgar: London..Libman A., Vinokurov E. . — Washington DC: The George Washington University, Central Asia Program..
Vinokurov E. . Basingstoke and New York: Palgrave Macmillan.
Vinokurov E., Libman A. . Basingstoke and New York: Palgrave Macmillan.
Vinokurov E. . St. Petersburg: EDB.
Vinokurov E. . Almaty: EDB.
Vinokurov E., Libman A. . Basingstoke and New York: Palgrave Macmillan.
Libman A., Vinokurov E. . Basingstoke and New York: Palgrave Macmillan.
Vinokurov E., Libman A. Еurasian Continental Integration. St. Petersburg: EDB. In Russian.
Vinokurov E. . Almaty: EDB.
Vinokurov E. . Almaty: EDB.
Vinokurov E. . Almaty: EDB.
Vinokurov E. . Almaty: EDB.
Vinokurov E. . Almaty: EDB.
Vinokurov E. . Almaty: EDB.
Gaenzle S., Muentel G., Vinokurov E. . Manchester: Manchester University Press.
Vinokurov E. . Lanham, MD: Lexington Books.
Vinokurov E. . Brussels: CEPS.
Malfliet K., Verpoest L., Vinokurov E. . London: Palgrave Macmillan.
Vinokurov E. Together with Kant. Philosophical Foundations of a Global World Order. Kaliningrad: KGU.
Selected Papers and Reports
Vinokurov, E. . Reports 24/6. Almaty: Eurasian Development Bank.Vinokurov, E., Ahunbaev, A., Chuyev, S., Adakhayev, A., Sarsembekov, T. . Reports 23/4. Almaty: Eurasian Development Bank.
Vinokurov, E. . . Almaty: Eurasian Development Bank. EDB Report 2023/3.
Vinokurov, E. et al. . EDB Report 2022/3. Almaty, Bishkek, Moscow: Eurasian Development Bank.
Vinokurov, E., Ahunbaev, A., Usmanov, N., Zaboev, A. . Report 2022/2. Almaty, Moscow: Eurasian Development Bank.
Vinokurov E., Grichik M., Tsukarev T. . Russian Journal of Economics, 8: 315-332. DOI: 10.32609/j.ruje.8.98242.
Vinokurov E., Grichik M. . Voprosy Ekonomiki. 12:24-43.
Vinokurov E. Y., Levenkov A. S. // Voprosy Ekonomiki. — 2021;:26-42. — ISSN 0042-8736. — doi:10.32609/0042-8736-2021-5-26-42.
Libman A., Stone R., Vinokurov E. . European Journal of Political Economy. Vol. 73, Issue C.
Vinokurov E., Levenkov A. . Global Policy. Vol. 12, no. 1.
Vinokurov E. . Post-Communist Economies. Vol. 33, no. 2-3.
Vinokurov E. The Belt and Road Initiative: A Russian Perspective. In: Kohli, H., Linn, J., Zucker L. . SAGE Publications Inc.
Lissovolik Y., Vinokurov E. . Area Development and Policy, 4: 117-133.
Libman A., Vinokurov E. Autocracies and Regional Integration: the Eurasian Case. Post-Communist Economies.
Vinokurov E., Tsukarev T. . Area Development and Policy, 3: 1: 93-113.
Vinokurov E., Libman A. Eurasian Integration and its Institutions: Do They Serve to Provide Security in Eurasia? In: Bordachev T., Dutkiewicz P., Lukyanov F., Sakwa R. . Lexington Books, Lanham, MD.
Vinokurov E. . Russian Journal of Economics. Vol. 3 : 54-70.
Vinokurov E. . Osteuropa, 5: 129-140
Vinokurov E. Eurasian Economic Union: A Sober Look. Voprosy Ekonomiki. No. 12
Vinokurov E., Libman A. . Post-Communist Economies. Vol. 26 : 341–358.
Vinokurov E. . Global Journal of Emerging Market Economies. Vol. 6: 69-93.
Vinokurov E. . Russia in Global Affairs. No. 4.
Libman A., Vinokurov E. . Review of International Political Economy. Vol. 19: 867-894
Libman A., Vinokurov E. Eurasian Economic Union: Why Now? Will It Work? Is It Enough? Whitehead Journal of Diplomacy and International Relations. Summer issue.
Libman A., Vinokurov E. . Journal of Common Market Studies. Vol. 50. Number 1. pp. 112–128.
Libman A., Vinokurov E. . Post-Communist Economies, 23, pp. 469–492.
Vinokurov E., Libman A. Post-Soviet Regional Integration Trends: Results of Quantitative Analysis, Voprosy Economiki, July.
Vinokurov E., Libman A., Maqsimchook N. Dynamika integracionnykh processov v Centralnoy Azii . Journal of Eurasian Economic Integration. Vol. 2 : 5-32..
Vinokurov E. Libman A. Systema indikatorov evraziyskoy integracii: osnovnye vyvody, Journal of Eurasian Economic Integration, Vol. 4 : 38-57..
Vinokurov E., Jadraliyev M., Shcherbanin Y.. . EDB Sector Report no.5. April. Almaty: EDB.
Vinokurov E. Mutual Investment in The CIS Banking Sector, The Euromoney Central Asia & CEE Financial Markets Handbook 2009/10, Euromoney, pp. 4–9.
Vinokurov E. . EDB Industry Report no.3. Almaty: EDB.
Vinokurov E. . EDB Industry Report no.1. Almaty: EDB.
Samson I., Lamande V., and Vinokurov E. Measuring Regional Economic Development in Russia: The Case of the Kaliningrad Oblast, in: European Urban and Regional Studies, 1:71-8.
Lamande V., Vinokurov E. Trade in Kaliningrad Oblast, Problems of Economic Transition, 6: 56-72.