Rui Pedro F. C. Esteves
Associate Professor in Economics

Department of Economics - University of Oxford
Oxford OX1 3UQ

Phone: +44(1865)271954 (Department) 
FAX: +44(1865)271094
Email: rui [dot] esteves [at] economics [dot] ox [dot] ac [dot] uk

Curriculum vitae



Money, Finance, and Cycles in History (2n year MPhil in economics) link
International Finance for the MFE (SBS) link
International Relations in the Era of Two World Wars (PPE) link


 Published/ pending publication

      Research articles
    "Eurobonds past and present: a comparative review on debt mutualization in Europe"
(with Coskun Tunçer) Review of Law & Economics ,Vol. 12(3), 2016, pp. 659-88 link
    "Feeling the Blues. Moral Hazard and Debt Dilution in Eurobonds Before 1914" (with Coskun Tunçer) Journal of International Money and Finance, 65 (July): 46-68 link
            Working Paper version CEPR #9860 
Father like Sons? The Cost of Sovereign Defaults in Reduced Credit to the
Private Sector” (with João Jalles) Journal of Money, Credit and Banking, Vol. 48 (7), 2016, pp. 1515-45 link      
    "Big Push or Big Grab? Railways, Government Activism and Export Growth in Latin America, 1865-1913" (with Vincent Bignon and Alfonso Herranz-Loncán) Economic History Review, 68(4): 1277-1305 link

    "The First Global Emerging Markets Investor: Foreign & Colonial Investment Trust 1880-1913" (with David Chambers), Explorations in Economic History, 52: 1-21, link   
        Coverage of this article in the Economist        
"The Bondholder, the Sovereign and the Banker: Sovereign Debt and Bondholders' Protection Before 1914,” European Review of Economic History, 17 (4): 389-407 link
            This article received the Figuerola Prize for the best article published in the European Review of Economic History in 2014-15.
            Working Paper version 
    "Remittances, Capital Flows and Financial Development during the Mass Migration Period, 1870-1913" (with David Khoudour-Castéras), European Review of Economic History, 15(3): 443-74 link
    "A Fantastic Rain of Gold. European Migrants' Remittances and Balance of Payments Adjustment During the Gold Standard Period" (with David Khoudour-Cast
éras), Journal of Economic History, 69: 951-85 link
            This article received the Arthur H. Cole Prize for the best article published in the Journal of Economic History in 2009
    "Market Integration in the Golden Periphery. The
Lisbon/ London Exchange, 1854-1891" (with Jaime Reis and Fabiano Ferramosca) , Explorations in Economic History, 46 (3): 324-345 link

 "Looking Ahead From The Past: The Intertemporal Sustainability of Portuguese Finances, 1854-1910,"  European Review of Economic History, Vol. 7 (2), 2003, pp. 239-66.

 “O crowding out em Portugal, 1879-1910: uma abordagem exploratória”, Análise Social, Vol. XXXIV (151-152),  2000, pp. 573-618.

Book chapters

    "The Political Economy of Global Financial Liberalisation in Historical Perspective", in Gerard Caprio (ed.) Handbook of Key Global Financial Markets, Institutions, and Infrastructure, Vol. 1, pp. 133-150. Oxford: Elsevier, 2013 link
    "Finanças Públicas" in Pedro Lains and Alvaro Silva (eds.),  História Económica de Portugal 1700-2000, Lisbon: Imprensa de Ciências Sociais, 2005, Vol. II.   

 "Pulsações Financeiras" in Joel Serrão and A. H. Oliveira Marques (eds.), Nova História de Portugal, Lisbon: Editorial Presença, 2004, Vol. X.


Finanças Públicas e  Crescimento Económico. O Crowding-out em Portugal, da Regeneração ao final da Monarquia, Lisbon: Banco de Portugal, 2002.

Review articles

"L'ouverture financière dans l'histoire: une approche d'économie politique", Revue d'Économie Financière, December, Vol. 124, 2016, pp. 327-33 link

Review of "Ali Coskun Tuncer, Sovereign Debt and International Financial Control: The Middle East and the Balkans, 1870-1914", Book Reviews link

"Sovereign Debt: The Assessment" (with Christopher Bowdler), Oxford Review of Economic Policy, Vol. 29 (3), 2013, pp. 463-77 link

Review of "Norbert Gaillard, A Century of Sovereign Ratings", Economic History Review, Vol. 66(1), 2013, pp. 371-72 link

Review of "Leonor Freire, Pedro Lains and Susana Miranda, História Económica de Portugal 1143-2010", Economic History Review, Vol. 66(1), 2013, pp. 376-77 link


“The Rise of New Corruption: British MPs during the Railway Mania of 1845” (with Gabriel Geisler Mesevage) CEPR DP# 12182 link

"Between Imperialism and Capitalism. European Capital Exports Before 1914" link

"The Belle Epoque of International Finance. French Capital Exports 1880-1914" link

"The Portuguese Concelhos and Forais. A Case in Institutional History from the Eleventh to the Mid Thirteenth Centuries" link

"In Search of Lost Time. Foreign Exchange Reserve Management in Portugal Between the Wars" link

Public lecturing

Panel discussion 'Financial Recovery: Then and Now', ANU, 5 September 2012 video


Alma mater 

Splendor sine occasu