Yaroslav Lissovolik

Russian Federation

Programme Director of the Valdai Discussion Club; Managing Director of Research - Chief economist, Eurasian Development Bank 

He worked in the International Monetary Fund, where he was Advisor to the Executive Director for the Russian Federation in Washington (2001–2004). Yaroslav Lissovolik joined Deutsche Bank as Chief Economist (2004); he became Head of Company Research in Russia (2009), and a member of the Management Board of Deutsche Bank in Russia (2011). Yaroslav Lissovolik is a member of the Advisory Council of the Central Bank of Russia, a member of the Council on foreign and defense policy and a member of the Bretton Woods Committee. Yaroslav Lissovolik became a member of the Expert Council of the Russian government as well as the Working group on macroeconomic policy of the Presidential Economic Council (2012). Since 2018 he is Managing Director of Research - Chief economist, Eurasian Development Bank.

He has published books on Russia's entry to the
WTO and on Russia's integration into the world economy, as well as numerous
articles and papers on economic and policy issues.


The Rising Role of South-South Integration
In the past several decades global trade experienced notable fluctuations, with the post-2007 period in particular exhibiting negative trends amid rising protectionist pressures. The recent
A Look at BRICS Derivatives and Alter Egos
The BRICS grouping was originally advanced largely as an investment benchmark of emerging markets with the highest growth potential. The emergence of BRICS funds targeting asset allocation in the
The Integration Platforms of the Global South
The mounting protectionism emanating from the US in the past month has reached a point of being one of the key risks to the sustainability of the recovery in global economic growth. But apart from the
US Steel Tariffs: Will a Trade War Be Prevented?
On March 1, US President Donald Trump announced the introduction of import tariffs on steel and aluminium at the rate of 25% and 10% respectively. In turn, the European Commission said that if
Russia’s Economic Modernization: A Long-Term Perspective
If there is one thing that we can be certain about with regard to Russia in the next several decades, it is that it will attempt to stage a catch‑up effort vis-a-vis the front-runners of the world
Imago Mundi: A South-South Concert of Continents
In exploring the barriers to growth in the world economy one striking feature is the difference between developed and developing economies in terms of the scale and depth of economic integration. This
Syndicated Regionalism: The Missing Link in Global Governance
Re-building global governance architecture with regional blocks may serve to strengthen the “supporting structures” of the edifice of the global economy – with hardly any attention paid to
A BRICS+ Framework for Africa: Targeting Regional Connectivity
A “BRICS+Africa” framework of cooperation could be developed by BRICS economies for 2018 with the view to further strengthening the BRICS+ mechanism, while at the same time advancing further
On the Paradox of Global Economic Integration
Concerns over the global economic slowdown appear to be gradually receding this year as the global economy is set to muster an acceleration in growth on the back of a strong showing by the Eurozone,
Monetizing BRICS+: Introducing The R5 Initiative
As the world prepares for the upcoming BRICS summit in Xiamen, there is an increasing focus on the new initiative launched by China called the BRICS-plus that aims to extend BRICS countries
Russia's WTO Membership – Marking the First 5 Years
This August Russia is marking its 5th anniversary of WTO membership. As Russians look back at the experience of the past 5 years for many this anniversary is a reminder of the record-long odyssey
Eurozone: In Need of Re-Adjustment
The EU may continue to experience tremors along the North-South divide. On the external front the re-adjustment in the face of lower engagement from the US will need to focus on the East – including


Apurva Sanghi on How Russia Should Adjust to Rising China and India
Apurva Sanghi, World Bank Lead Economist for the Russian Federation, talks about the internal reforms Russia would need to undertake to succeed as China and India's economies continue to grow in

A Rebalancing China and Resurging India: How Will The Pendulum Swing For Russia?
On November 16, at 15:00, the Valdai Discussion Club held an expert discussion with the World Bank, titled “A Rebalancing China and Resurging India: How Will The Pendulum Swing For Russia?”

New Normal for the World Economy: The End of Booming Growth? Yaroslav…
On August 23, 2017, the Valdai Discussion Club held an economic seminar, titled “New Normal for the World Economy: The End of Booming Growth?”

Eurasian Economic Union: Recent Trends and Prospects. Economic Seminar
On June 26, the Valdai Discussion Club hosted an economic seminar, titled “Eurasian Economic Union: Recent Trends and Prospects”. Seminar participants discussed successes of, and obstacles to Eurasian