Anastasia Nesvetaïlova

Anastasia Nesvetaïlova

CITY University of London, Director of CITYPERC, UNCTAD

International Political Economy, Finance and financial crises, Globalisation and Governance, Financial and Monetary Policies, Process of capitalist evolution in Russia and FSU countries


Professor Anastasia Nesvetailova is Head of Macroeconomics and Political Development Department, UNCTAD, Geneva and Professor of International Political Economy at City University of London. She was Director of City Political Economy Research Centre – CITYPERC. Anastasia is a research specialist in International Political Economy. Her areas of interest cover finance and financial crises, globalisation and governance and her current research focuses on the themes of global financial fragility and crises, the formation of financial and monetary policies, and the process of capitalist evolution in Russia and other FSU countries. She is a former lecturer at the Centre for Global Political Economy of the University of Sussex. Professor Nesvetailova is the author of Fragile Finance: “Debt, Speculation and Crisis in the Age of Global Credit” (Palgrave, 2007) and “Financial Alchemy in Crisis: The Great Liquidity Illusion” (Pluto, 2010). She is a co-editor of “Global Finance in the New Century” (Palgrave Macmillan, 2007), “International Political Economy: A Reader” (Sage, 2007). Her latest book (January 2020): Sabotage: The Hidden Nature of Finance” or “Sabotage: The Business of Finance“, edited with Ronen Palan.

Research Interest

Her main research and teaching interests lie in the area of International Political Economy (IPE), finance and financial crises, regulation and governance.


Nesvetailova, A. (2014). Innovations, fragility and complexity: Understanding the power of finance. Government and Opposition, 49(3), pp. 542–568.

Gkanoutas-Leventis, A. and Nesvetailova, A. (2015). Financialisation, oil and the Great Recession. Energy Policy, 86, pp. 891–902.

Working papers

1. Photis Lysandrou & Anastasia Nesvetailova, 2013. “The Shadow Banking System and the Financial Crisis:A securities production function view,” Working papers wpaper05, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.

2. Palan, R. & Nesvetailova, A., 2013. “The Governance of the Black Holes of the World Economy: Shadow Banking and Offshore Finance,” CITYPERC Working Paper Series 2013-03, Department of International Politics, City University London.


1. Anastasia Nesvetailova, 2015. “A Crisis of the Overcrowded Future: Shadow Banking and the Political Economy of Financial Innovation,” New Political Economy, Taylor & Francis Journals, vol. 20(3), pages 431-453, June.

2. Gkanoutas-Leventis, Angelos & Nesvetailova, Anastasia, 2015. “Financialisation, oil and the Great Recession,”Energy Policy, Elsevier, vol. 86(C), pages 891-902.

3. Photis Lysandrou & Anastasia Nesvetailova, 2015. “The role of shadow banking entities in the financial crisis: a disaggregated view,” Review of International Political Economy, Taylor & Francis Journals, vol. 22(2), pages 257-279, April.

4. Anastasia Nesvetailova & Ronen Palan, 2013. “Minsky in the Shadows,” Review of Radical Political Economics, Union for Radical Political Economics, vol. 45(3), pages 349-368, September.

5. A. Nesvetailova., 2011. “Beyond the Minskyan Political Economy: Liquidity and Financial Innovation in the Global Credit Crunch,” VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala “Voprosy Economiki”, vol. 6.

6. A. Nesvetailova., 2010. “The Lingering Puzzles of the Global Credit Crunch, or an Essay on the Liquidity Illusion,” VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala “Voprosy Economiki”, vol. 12.

7. Anastasia Nesvetailova, 2006. “Fictitious Capital, Real Debts: Systemic Illiquidity in the Financial Crises of the Late 1990s,” Review of Radical Political Economics, Union for Radical Political Economics, vol. 38(1), pages 45-70, March.

8. A. Nesvetailova., 2005. “The Economic Legacy of Hyman Minsky,” VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala “Voprosy Economiki”, vol. 3.

Book Chapters

1. Anastasia Nesvetailova, 2012. “Liquidity,” Chapters, in: Jan Toporowski & Jo Michell (ed.), Handbook of Critical Issues in Finance, chapter 28, pages i-ii, Edward Elgar Publishing.

2. Anastasia Nesvetailova, 2012. “Liquidity Illusions in the Global Financial Architecture,” Chapters, in: Kern Alexander & Rahul Dhumale (ed.), Research Handbook on International Financial Regulation, chapter 15, Edward Elgar Publishing.