Alfonso Ugarte
BBVA Research - Principal Economist
Alfonso Ugarte is a Principal Economist in the Global Scenarios Unit of BBVA Research. He has previously worked in the Cross-Country Emerging Markets, Global Trends and Financial System Units in the same department.
His current responsibilities include the development, calibration and updating of several econometric models that are used as inputs by the other departments of BBVA, with a special focus on Country-Risk issues and on cross-country, panel-data analysis. He also provides support in the analysis of financial systems and financial markets in emerging and developing markets.
He has previously held an Adjunct-Professor position in Pompeu Fabra University, where he has taught Econometrics and Corporate Finance, and several other courses as a Teaching Assistant.
He holds a PhD in Economics and Management (Summa Cum Laude) from Pompeu Fabra University in Barcelona and a Master of Science from the same University. He obtained his bachelor degree in Economics from Universidad de Los Andes in Colombia.
Latest publications
October 7, 2024
Global | How is investment doing? A cross-country analysis
Despite uncertainty and high interest rates, investment remains strong in countries like the U.S. and France, especially in intellectual property and ICT, but not in Spain, Canada, and most emerging markets. GDP growth remains key, but digitalization and climate transition policies will drive future investment.
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January 10, 2024
Country Risk Annual Report 2024
Agencies’ ratings have remained relatively stable during 2023. Changes have been mostly positive in peripheral Europe, while US and France were downgraded by Fitch. The rating cycle has been mostly negative for Emerging Economies (EE), mainly due to specific idiosyncratic vulnerabilities.
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