Stefan Avdjiev is an Adviser for Financial Stability at the Bank for International Settlements (BIS). He joined the BIS in 2009, immediately after the completion of his PhD in economics. Prior to assuming his current position, he worked as an Economist in the Financial Institutions and the Financial Markets groups of the BIS Monetary and Economic Department (between 2009 and 2014) and as the Deputy Head of International Banking and Financial Statistics (between 2014 and 2020). His recent research has been mainly focused on issues related to financial stability and international finance. He has also conducted and published research in macroeconomics and asset pricing.
VoxEU Column
Global risk conditions now a weaker driver of global liquidity
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- Global crisis ![](../../../../../../../../../../var/folders/34/zq18d8kx7kbgby0j06p_j6t40000gn/T/TemporaryItems/NSIRD_screencaptureui_EM2XPo/Screenshot 2022-01-04 at 17.01.16.png)
- Global economy ![](../../../../../../../../../../var/folders/34/zq18d8kx7kbgby0j06p_j6t40000gn/T/TemporaryItems/NSIRD_screencaptureui_EM2XPo/Screenshot 2022-01-04 at 17.01.16.png)
- International Finance
VoxEU Column
The real consequences of CoCo issuance: A first comprehensive analysis
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- Financial Markets ![](../../../../../../../../../../var/folders/34/zq18d8kx7kbgby0j06p_j6t40000gn/T/TemporaryItems/NSIRD_screencaptureui_EM2XPo/Screenshot 2022-01-04 at 17.01.16.png)
- Financial Regulation and Banking
VoxEU Column
Gross capital inflows to banks, corporates, and sovereigns
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![](../../../../../../../../../../var/folders/34/zq18d8kx7kbgby0j06p_j6t40000gn/T/TemporaryItems/NSIRD_screencaptureui_EM2XPo/Screenshot 2022-01-04 at 17.01.16.png)
- Financial Markets
VoxEU Column