Cagatay Bircan

I am a Lead Research Economist at the Office of the Chief Economist at the European Bank for Reconstruction and Development (EBRD), an Industrial Professor at the Institute of Finance and Technology at University College London (UCL), and a part-time PhD student in machine learning at UCL. I do academic research and conduct various types of policy work that are regularly published.

My research focuses on topics at the intersection of international and organisational economics, finance, and development. My current research is on knowledge work in teams and multinationals with a focus on gender gaps, value creation in private equity, and how financial intermediation can help entrepreneurship in developing countries.

You can see my most recent CV here.

Email: bircanc@ebrd.com
Twitter: @cagataybircan

Research Interests

  • Entrepreneurial Finance
  • Banking
  • Organisations
  • Innovation & Productivity

News

  • March 2021
    Publication: Lending Cycles and Real Outcomes: Costs of Political Misalignment
    My paper on political lending cycles in Turkey (with Orkun Saka) is now forthcoming at The Economic Journal. Find the journal version here and the latest working paper version here.
  • December 2020
    New working paper out: Daylight Saving All Year Round? Evidence from a National Experiment
    New working paper out on daylight saving time (DST) with Elisa Wirsching! We study the effects of Turkey’s decision to stay on DST year round in 2016 on electricity consumption, generation, and emissions. Find the latest version here.
  • June 2020
    New VoxEu article: Coronavirus credit support
    We report on a firm-level analysis across 16 emerging markets, and three Western European comparator countries, in order to gauge the potential risks associated with debt-driven COVID-19 support. The overall goal is to prevent a wave of bankruptcies that could break valuable relationships between firms and their suppliers and employees. However, liquidity support in the form of additional bank lending may create debt-overhang problems in the future and therefore requires careful targeting. Read here.
  • April 2020
    New working paper out: Value Creation in Private Equity
    New working paper out on value creation in private equity with Markus Biesinger and Alexander Ljungqvist! We open up the black box of value creation in private equity with the help of confidential information on value creation plans and their execution. Find the latest version here.

Disclaimer

All the material and opinions expressed on this website are completely my own and do not reflect the views of the EBRD.