Michal Paserman, a Research Faculty and Lecturer of Business Economics at Webster
Geneva Campus, was awarded a Ph.D. in International Economics (cum laude) from The
Graduate Institute of International and Development Studies (IHEID), Geneva.
In her thesis “Three Essays on Institutions and The Cost of Foreign Capital of Emerging Markets” she examines several aspects of the effects of corruption on yields on sovereign bonds. She shows that emerging markets perceived as more corrupt, are more vulnerable to deterioration in investor sentiment during financial crises. She proposes that by reducing corruption, countries could benefit from global integration while decreasing potential side effects of sudden capital outflows under extreme market conditions.