Professor Kalina Manova

Economics and Management
Associate Professor and Senior Tutor in Economics


Ph.D. Economics, Harvard University, 2007

A.M. Economics, Harvard University, 2004

A.B. Economics, Harvard College, Magna Cum Laude, 2002

Academic Background

University of Oxford, Department of Economics, Associate Professor, Sep 2015-present

Stanford University, Department of Economics, Assistant Professor, Sep 2007-Aug 2016

Hoover Institution, National Fellow, Sep 2012- June 2013

Princeton University, Department of Economics, Visiting Assistant Professor, Sep 2009- June 2010

Review of Economic Studies, Editorial Board Member, January 2016-present

Journal of International Economics, Associate Editor, July 2013-present

Graduate Teaching

MPhil Economics: International Trade

MPP Blavatnik: Core Economics

Undergraduate Teaching

Dept of Economics lectures: Development Economics

Christ Church tutorials: Core Microeconomics, Core Quantitative Economics

Research Interests

International Trade and Investment

Publications include:

“How Firms Export: Processing vs. Ordinary Trade with Financial Frictions” Journal of International Economics 100 (2016), p.120-137. (with Zhihong Yu)

“International Trade, Multinational Activity, and Corporate Finance” Annual Review of Economics 7 (2015), p.119-146. (with Fritz Foley)

“Financial Development and the Choice of Trade Partners” Journal of Development Economics 116 (2015), p.122-145. (with Jackie M.L. Chan)

“Global Value Chains and Multinational Activity with Financial Frictions” 2015. In J. Amador and F. di Mauro ed., The Age of Global Value Chains: Maps and Policy Issues. CEPR E-book,

“Firm Exports and Multinational Activity under Credit Constraints” Review of Economics and Statistics 97 (2015), p.574-588. (with Shang-Jin Wei and Zhiwei Zhang)

“Credit Constraints, Heterogeneous Firms, and International Trade” Review of Economic Studies 80 (2013), p.711-744.

“Export Prices across Firms and Destinations” Quarterly Journal of Economics 127 (2012), p.379-436. (with Zhiwei Zhang)

“Off the Cliff and Back: Credit Conditions and International Trade during the Global Financial Crisis” Journal of International Economics 87 (2012), p.117-133. (with Davin Chor)

  • Featured in The NBER Digest, December 2010.
  • Featured as VOX column at February 15, 2010.

“Volatility and Growth: Credit Constraints and the Composition of Investment” Journal of Monetary Economics 57 (2010), p.246-65. (with Philippe Aghion, Marios Angeletos, and Abhijit Banerjee)

“Credit Constraints, Equity Market Liberalizations, and International Trade” Journal of International Economics 76 (2008), p.33-47.