Asst. Prof. Dr. Arhan S. Ertan

Arhan Ertan is currently an assistant professor of economics & finance at the department of International Trade at Boğaziçi University. He received his PhD in Economics from Brown University. and holds MA degrees in Economics from both Brown University and Boğaziçi University as well as a BS degree in Engineering from Boğaziçi University - also completed the coursework of the Management PhD program at Boğaziçi University. Before joining the faculty of Boğaziçi University in 2019, he was a visiting of assistant professor of economics at Brown University.

His academic interests span various topics related to economic development (with a long-term and institutional perspective), behavioral economics (focusing on the roles of personal characteristics and institutions on cooperation), international economics (trade and finance) and migration (domestic and international). In his research, which is mostly empirical and interdisciplinary, he is aiming to provide new perspectives for explaining the developmental differences and problems observed around the globe. His academic work has been published in prestigious national and international journals and the one published at European Economic Review earned the ‘Most Cited Article Award’.

During the earlier years of his career, he held various full-time faculty positions in some of the most prestigious universities in USA such as, New York University (2011-2012), Boston University (2009-2011), Tufts University (2008-2009) and Babson College (2007-2008) where he taught numerous courses both at graduate and undergraduate levels. Between 2012 and 2018, he worked as an assistant professor of economics at the Faculty of Management of Kadir Has University, where he was the main adviser of the dissertations of 9 PhD and 3 masters’ students, participated in the organization of two international finance conferences, several workshops and a large number of economics and finance seminars. Additionally, he taught a large variety of courses at several other universities such as Boston College (2009), Northeastern University (2008), University of Rhode Island (2006), Sabancı University (summer of 2007), Özyeğin University (summer of 2013), Koç University (summer of 2014) and Boğaziçi University (several semesters within the period of 2007 – 2017).

His experience outside academia includes the following: academic consultant of data analytics / statistical analysis at Istanbul Economy Research (since 2018) plus - at pre-historic times(!) - economist at the research department of Finansbank (2008), academic team member of a research project jointly conducted by DPT (State Planning Organization) and Boğaziçi University Industrial Engineering Department (2007).

Brown University, Providence, Rhode Island, USA

        PhD in ECONOMICS

        MA in ECONOMICS

Boğaziçi University, Istanbul, Turkey

        MA in ECONOMICS


        PhD (coursework) in MANAGEMENT

Academic Awards:

'Most Cited Article Award' (European Economic Review)

Stephen R. Ehrlich Fellowship (Brown University)

Centre for Economic Policy Research (CEPR) Fellowship (for the workshop in 'Trade, Technology Diffusion and Implications for Developing Countries' organized by University of Milan, Italy)

1st Prize in International Mathematical Olympiad (IMO) Exam (Turkish Scientific and Technical Research Institution - TÜBİTAK)

Full Time:

Assistant Professor at Boğaziçi University, Department of International Trade (current) 

Visiting Assistant Professor at Brown University, Economics Department (2018 – 2019)

Assistant Professor at Kadir Has University, Department of International Trade & Finance (2012 – 2018)

Visiting Assistant Professor at New York University, Economics Department & Courant Institute of Mathematical Sciences (2011 – 2012)

Visiting Assistant Professor at Boston University, Economics Department (2009 – 2011)

Visiting Assistant Professor at Tufts University, Economics Department (2008 – 2009)

Visiting Assistant Professor at Babson College, Division of Economics (2007 – 2008)

Research and Teaching Assistant at Brown University, Economics Department (2002 – 2007)

Part Time:

Adjunct Faculty at Boğaziçi University (several semesters during 2007 – 2017)

Adjunct Faculty at Koç University, Economics Department (Summer 2014)

Adjunct Faculty at Özyeğin University, Faculty of Business (Summer 2013)

Adjunct Faculty at Boston College, Economics Department (2009)

Adjunct Faculty at Northeastern University, Economics Department (2008 & 2010)

Adjunct Faculty at Sabancı University, Economics Department (Summer 2007)

Adjunct Faculty at University of Rhode Island, Economics Department (Fall 2006)

Teaching Assistant at Bilgi University, Economics Department (1999 ‐ 2001)

Experience Outside Academia (well, kind of):

Academic Consultant (data analytics / statistical analysis) @ Istanbul Economy Research, 2018 - current

Economist @ Finansbank Research Department, Istanbul, 1998

Academic Team Member 4 a research project conducted jointly by DPT (State Planning Organization) & Boğaziçi University, Istanbul, 1997

Economic Development

Behavioral Economics & Finance

International Trade & Finance


Efficiency of Financial Markets

International Trade & Finance

Statistics & Econometrics

Economic Growth & Development

Financial Markets and Institutions

Banking Theory


International Journals:

Global Financial Environment or Monetary Transmission Mechanism? The (Special) Dynamics of the Turkish External Deficit after 2002 (International Journal of Finance & Economics, 2020)

Who was Colonized and When? A Cross-Country Analysis of Determinants (European Economic Review, 2016)

Determinants and Economic Consequences of Colonization: A Global Analysis (SSRN Online Journal, 2012)

Who to Punish? Individual Decisions and Majority Rule in Mitigating the Free Rider Problem (European Economic Review, 2009)

Turkish Journals:

Analist Önerilerinin Finansal Değeri: Risk Faktörlerinin Ötesinde Ne Söylüyorlar? (Sosyoekonomi, 2020)

Estimating the Yield Curve for Sovereign Bonds: The Case of Turkey (Finans-Politik & Ekonomik Yorumlar Dergisi, 2020)

Küresel Finansal Krizin Özel ve Kamu Sermayeli Banka Davranışlarına Etkisi: Kapsamlı Bir Yazın Taraması ve Türkiye Bankacılık Sektörü Örneği (Marmara Üniversitesi İktisat Araştırmaları Dergisi, 2020)

Finansal Başarısızlığı Belirleyen Etkenler: Türkiye İmalat Sektörü Örneği (Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, 2018)

Book Chapter:

Foreign Direct Investment in North Africa: A Descriptive Analysis of the Performance, Policies, Challenges (in Handbook of Research on Institutional, Economic, and Social Impacts of Globalization and Liberalization, pp. 446-471, IGI Global, 2020)

Ongoing & Completed Projects:

Economic Experiments on Threshold Public Goods: Analyzing the Roles of Time Inconsistency & Impatience, Risk Preferences, Network Structures, Communication among Subjects, Beliefs about Others’ Behavior (Financial Support: Boğaziçi University, BAP #16722)

Effects of COVID-19 Pandemic Related Uncertainties on Social, Economic and Political Preferences and Behavioral Patterns: Roles of Risk Perception (Financial Support: TUBITAK)

Digital Public Diplomacy of Armed Organizations – Cases of Syria and Iraq (Financial Support: TÜBITAK)

Integrative Urban Planning In Communities Receiving Refugees: Case of Syrian Refugees in Turkey (Financial Support: GIZ GmbH)

Works under Review:

Explaining Radicalization through Structural and Permissive Determinants (revise & resubmit)

Global Financial Environment or Monetary Transmission Mechanism? The (Special) Dynamics of the Turkish External Deficit after 2002 (revise & resubmit)

Differential Effects of Trade Liberalization on Economic Growth: Role of Human Capital Accumulation (under review)

Estimating the Parameters of the Yield Curve: The Case of Turkish Sovereign Bond Market (under review)

Changes in the Differences in Assets Preferences of the Public and the Private Banks in the Course of the Global Financial Crisis: Evidence from an Emerging Market (under review)

Works in Progress:

Beyond the Drivers of Migration: Estimating and Projecting Migratory Crises (with Başak Yavcan, TOBB University)

Future of Global Multilateralism: Rethinking Security, Economy, Democracy (with Akın Ünver, Kadir Has University)

Capital Account and Trade Openness Effects on the Labor Share of National Income: The Role of Financial Development and Human Capital (with Baybars Karacaovali, State of Hawaii, Department of Taxation)

Analyzing the Role of Time Inconsistency and Commitments on Contributions to Threshold Public Goods (with Louis Putterman, Brown University & Laura Gee, Tufts University)

Short- and Long-Run Economic and Social Effects of Ottoman Rule in Eastern Europe, Middle East and North Africa: A Comparison of Areas under Direct-Rule vs Vassal States (with Gian Tedeschi, University of Nottingham)

Persistent Effects of History on Regional Development: Pre & Post WW-I Population Movements in Balkans and Middle East (with Stelios Michalopoulos, Brown University)

Developmental Consequences of the Colonial Era: A Global Analysis (with Louis Putterman, Brown University)

Identification of the Factors Affecting the 'Spread' in Syndication Credits in Turkey

Determinants of FDI Inflows in North African Countries: An Analysis of Institutions, Policies and Historical Ties

Identification of Migration Fields and their Effect on Labor Market Segmentation in Metropolitan Areas of Turkey (with Murat Guvenc, Kadir Has University)

Short- and Long-Run Economic & Social Effects of Ottoman Rule in Eastern Europe, Middle East and North Africa: A Comparison of Areas under Direct-Rule vs Vassal States (with Akin Unver, Kadir Has University)

Path Dependence in State Capacity: Role and Development of State Level Polities (with Kivanc Karaman, Bogazici University)

Persistence of Innovation: The Effects of Political History of States on Current Entrepreneurship Levels (with Bulent Unel, Louisiana State University)

Effects of Personal Characteristics on Contributions to Public Goods: Theory and Experimental Analysis (with Murat Yilmaz, Bogazici University)

How do the Financial Institutions choose between FDI vs Foreign Lending? A Bank Level Analysis of the International M&As vs. Syndication Credits in Turkey (with Umut Gokcen, Koc University)

Developing A Financial Early Warning System for Financial Intermediary Institutions: A 'Neural Network' Analysis

Pre-PhD Works:

Effect of Trade Liberalization on Unemployment: Interaction of Labor Market Distortions with Exchange Rate Volatility

International Technology Spillovers and Productivity Growth

Regulation of Monopoly under International Competition: A Welfare Analysis

Anomalies in Istanbul Stock Exchange: 'Day of the Week Effect'