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Mikhail Stolbov

Moscow State Institute of International Relations (MGIMO-University)

Professor, Department of Applied Economics

Prospekt Vernadskogo, 76

Moscow, Moscow 119454

Russia

SCHOLARLY PAPERS

17

DOWNLOADS

1,840

TOTAL CITATIONS

8

Scholarly Papers (17)

1.

Financial System Classification: From Conventional Dichotomy to a More Modern View

Number of pages: 31 Posted: 22 Jul 2012
Alexander Veysov and Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO) and Moscow State Institute of International Relations (MGIMO-University)
Downloads 611 (109,586)
Citation 1

Abstract:

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financial system, classification, cluster analysis, alternative classification

2.

Causality between Credit Depth and Economic Growth: Evidence from 24 OECD Countries

BOFIT Discussion Paper No. 15/2015
Number of pages: 38 Posted: 08 May 2015
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 183 (413,774)
Citation 2

Abstract:

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causality, economic growth, financial development, FMOLS, frequency domain

3.

Systemic Risk, Economic Policy Uncertainty and Firm Bankruptcies: Evidence from Multivariate Causal Inference

Number of pages: 36 Posted: 01 Jan 2020
Mikhail Stolbov and Maria Shchepeleva
Moscow State Institute of International Relations (MGIMO-University) and National Research University Higher School of Economics (Moscow)
Downloads 132 (558,171)

Abstract:

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systemic risk, economic policy uncertainty, bankruptcy, Granger causality, convergent cross mapping

4.

Do Financial Systems Converge? A Comprehensive Panel Data Approach and New Evidence from a Dataset for 102 Countries

Number of pages: 22 Posted: 09 Apr 2012
Mikhail Stolbov and Alexander Veysov
Moscow State Institute of International Relations (MGIMO-University) and Moscow State Institute of International Relations (MGIMO)
Downloads 124 (588,531)
Citation 2

Abstract:

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Financial convergence, empirical research, corruption, financial openness, financial depth, panel

5.

The Impact of Financial Sector on Innovation Activity: Theoretical Background and New Evidence from Russian Banking Sector

Number of pages: 19 Posted: 12 May 2012
Alexander Veysov, Mikhail Stolbov and Elena Chuchelina
Moscow State Institute of International Relations (MGIMO), Moscow State Institute of International Relations (MGIMO-University) and affiliation not provided to SSRN
Downloads 108 (659,652)

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Finance, innovation, banking system, panel data, Russia, financial system

6.

International Credit Cycles: A Regional Perspective

Number of pages: 23 Posted: 09 Apr 2012
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 93 (730,864)
Citation 1

Abstract:

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credit cycle, banking crisis, net spill-over index, Hodrick-Prescott filter, Poisson regression, macro-prudential regulation

7.

Does One Size Fit All? Comparing the Determinants of Fintech Market Segments Expansion (Conference Presentation)

Number of pages: 16 Posted: 29 Jun 2021
Mikhail Stolbov and Maria Shchepeleva
Moscow State Institute of International Relations (MGIMO-University) and National Research University Higher School of Economics (Moscow)
Downloads 92 (736,406)

Abstract:

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cryptocurrency, FinTech, machine learning, peer-to-peer lending, variable selection

8.

Does One Size Fit All? Comparing the Determinants of the Fintech Market Segments Expansion

Number of pages: 33 Posted: 16 Sep 2022
Mikhail Stolbov and Maria Shchepeleva
Moscow State Institute of International Relations (MGIMO-University) and National Research University Higher School of Economics (Moscow)
Downloads 84 (790,029)

Abstract:

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cryptocurrency, FinTech, machine learning, peer-to-peer lending, variable selection

9.

When Central Bank Research Meets Google Search: A Sentiment Index of Global Financial Stress

Number of pages: 21 Posted: 28 Nov 2021
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 81 (803,225)
Citation 1

Abstract:

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financial stability, financial stress, Google Trends, sentiment index, sparse principal component analysis

10.

The interaction between financial development, macroprudential policy and economic growth: a cross-country perspective (Conference presentation)

Number of pages: 15 Posted: 19 Oct 2021
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 80 (803,225)

Abstract:

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macroprudential policy, IMF financial development index, Bayesian panel vector autoregression, impulse-response functions

11.

Has the Global Financial Crisis Increased Wealth Inequality? (Conference presentation)

Number of pages: 23 Posted: 04 Sep 2021
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 76 (830,555)

Abstract:

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banking, banking crisis, wealth inequality, Global Financial Crisis

12.

A Global Perspective on Macroprudential Policy Interaction With Systemic Risk, Real Economic Activity and Monetary Intervention

Number of pages: 20 Posted: 17 Dec 2020
Mikhail Stolbov, Maria Shchepeleva and Alexander Karminsky
Moscow State Institute of International Relations (MGIMO-University), National Research University Higher School of Economics (Moscow) and National Research University Higher School of Economics (Moscow) - Department of Finance
Downloads 62 (951,658)

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industrial production, macroprudential policy, monetary policy, smooth local projections, systemic risk

13.

Measuring Global Financial Stress: Is There Any Role for Large Language Models?

No
Number of pages: 15 Posted: 22 Jan 2026
Mikhail Stolbov and Maria Shchepeleva
Moscow State Institute of International Relations (MGIMO-University) and National Research University Higher School of Economics (Moscow)
Downloads 35 (1,304,549)

Abstract:

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financial stress, Google Trends, large language models, principal component analysis, quantile regression

14.

Discussion of "The impact of macroprudential policies on industrial growth" (presentation)

Number of pages: 10 Posted: 04 Jun 2021
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 35 (1,249,711)
Citation 1

Abstract:

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industrial growth, macroprudential policy, extarnal finance dependence

15.

Discussion of ‘The Formation of Hidden Negative Capital in Banking’ by Kostrov and Mamonov (2019) (Presentation Slides)

Number of pages: 6 Posted: 03 Jan 2020
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 34 (1,263,436)

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Bank failure, Hidden negative capital, Product mismatch, Misreporting, Heckman selection model

16.

Financial crises and mental health: cross-country evidence

Number of pages: 12 Posted: 21 Mar 2026
Maria Shchepeleva, Mikhail Stolbov and Laurent Weill
National Research University Higher School of Economics (Moscow), Moscow State Institute of International Relations (MGIMO-University) and University of Strasbourg - LaRGE Research Center (Laboratoire de Recherche en Gestion et Economie)
Downloads 10 (1,566,597)

Abstract:

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Financial Crises, mental health

17.

Attention-to-sanctions Index for Russia: When Sentometrics is Empowered by Large Language Models

Number of pages: 17
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 0

Abstract:

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financial stress, sanctions, Russia, LLMs, sentiment

Other Papers (8)

Total Downloads: 142
1.

Carbon Footprints of Lending and Bank Performance: International Evidence from Panel Data

Number of pages: 14 Posted: 12 Jun 2023 Last Revised: 11 Oct 2023
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 72

Abstract:

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carbon footprint of bank loans, banking sector concentration, NPL ratio, Z-score, systemic risk

2.

15 Years of Research on Systemic Risk: the Evolution of the Field and its Drivers Cconference Presentation)

Number of pages: 17 Posted: 21 Dec 2022
Mikhail Stolbov and Maria Shchepeleva
Moscow State Institute of International Relations (MGIMO-University) and National Research University Higher School of Economics (Moscow)
Downloads 20

Abstract:

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bibliometric analysis, Scopus, systemic risk, variable selection

3.

Predicting Systemic Risk in the Russian Financial Sector with Machine Learning Methods

Number of pages: 11 Posted: 20 Jun 2024
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 13

Abstract:

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systemic risk, financial stability, Russia

4.

Discussion of the Paper 'ESG and the Monitoring Role of Assurance in Credit Risks' by Zelalem Abay

Number of pages: 8 Posted: 12 Jun 2023
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 13

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ESG, assurance, credit risk, credit rating, monitoring theory, risk mitigation view, over-investment view

5.

Environmental Performance, Financial Development, Systemic Risk and Economic Uncertainty:What are the Linkages?

Number of pages: 26 Posted: 12 Dec 2023
Mikhail Stolbov
Moscow State Institute of International Relations (MGIMO-University)
Downloads 9

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environmental performance, financial development, green GDP, systemic risk, uncertainty

6.

Do Commodity Prices Matter for Global Systemic Risk? Evidence from ML Variable Selection

Number of pages: 10 Posted: 02 Aug 2024
Mikhail Stolbov and Maria Shchepeleva
Moscow State Institute of International Relations (MGIMO-University) and National Research University Higher School of Economics (Moscow)
Downloads 6

Abstract:

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commodity prices, systemic risk, ML variable selection

7.

Dissecting Causal Linkages among International Climate Risk Measures

Number of pages: 13 Posted: 16 Jul 2025
Mikhail Stolbov and Maria Shchepeleva
Moscow State Institute of International Relations (MGIMO-University) and National Research University Higher School of Economics (Moscow)
Downloads 5

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Climate risk, Granger causality, Paris Agreement, physical risk, transition risk

8.

A Sentiment-Based Financial Stress Index for Russia

Number of pages: 14 Posted: 14 Jan 2025
Mikhail Stolbov and Maria Shchepeleva
Moscow State Institute of International Relations (MGIMO-University) and National Research University Higher School of Economics (Moscow)
Downloads 4

Abstract:

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financial stress, sentiment, ACRA index, Russia