Publications

Publication Profile

My publications examine banking regulation, macroprudential policy, systemic risk, monetary policy, international finance, financial stability, and banking mergers and acquisitions (M&A). The overarching objective of this research is to understand how institutional structures, regulatory frameworks, and market dynamics influence the resilience of modern financial systems.

Drawing on both academic research and extensive professional experience in banking, this body of work seeks to better understand how financial institutions and regulatory frameworks adapt to an environment characterized by uncertainty, complexity, and continual structural change.

The publications below represent a selected list of my research contributions. A complete publication list is available in the CV.

Monograph

Macroprudential Regulation of the Banking System as a Factor of Financial Stability

Dzhagityan, E. Moscow: Urait Publishing House, 2019, 215 p.

This monograph examines macroprudential policy and regulation, their interaction with microprudential frameworks, and the role of regulatory instruments in mitigating systemic risk and strengthening financial stability. The monograph has remained in continuous publication since its original publication in 2019.

Selected Journal Articles

Monetary or Macroprudential Policy: Credit Risks of the U.S. Systemically Important Banks Revisited

Dzhagityan, E., & Alekseeva, M. Finance: Theory and Practice. Forthcoming (2026).

The Effect of Macroprudential Policy on Risks of U.S. Bank Holding Companies

Dzhagityan, E., & Alekseeva, M. Journal of the New Economic Association, 2024.

Perspectives of the “Mini-Basel III” Concept in the Supranationalization Process of EAEU Banking Regulation and Supervision

Dzhagityan, E., Mukhametov, O., & Alekseeva, M. International Organisations Research Journal, 2024.

The Effect of the ECB’s Unconventional Monetary Policy on Systemic Risks in the Eurozone Countries

Dzhagityan, E., & Mukhametov, O. Voprosy Ekonomiki, 2023.

Three Objectives of International Banking Regulation: Analysis of Their Interrelationship and Issues

Dzhagityan, E., & Mukhametov, O. Finance: Theory and Practice, 2023.

Global Systemically Important Banks: Do They Still Pose Risks for Financial Stability?

Dzhagityan, E., & Orekhov, M. International Organisations Research Journal, 2022.

Macroprudential Policy in Post-Crisis Banking Regulation

Dzhagityan, E. World Economy and International Relations, 2017.

M&A — The Missing Piece of the Regulatory Puzzle

Dzhagityan, E. The Banker / Financial Times, 2014.

Selected Book Chapters

International Business amid Financial Globalization: Multinational Companies and Foreign Direct Investment

Chapter 11 in Global Business Environment, 2022.

Investment Opportunities of Multinational Companies

Chapter 13 in Global Business Environment, 2022.

Russian Banks as an Institute of Realization of the Foreign Economic Policy

In Foreign Economic Policy of Russia amid Global Risks, 2019.

Working Papers and Policy Contributions

Perspectives of Macrofinance Regulation of Banking M&A in the Context of the International Reform of Banking Regulation

SSRN Working Paper, 2018.

The Effect of Ex Post Risks on Post-M&A Performance Efficiency

SSRN Working Paper, 2018.

Financial Stability Needs Macro-Financial Regulation of Banking M&A

Global Financial Markets Center, Duke University, 2019.