TERRA Cristina

Christina Terra is professor of economics  and Academic Director of the Global BBA (Bachelor in Business Administration) at ESSEC Business School. PhD in economics from Princeton University, she has taught in France, Brazil and the United States. She has been Director of the école Doctorale EM2P at Université de Cergy-Pontoise, and Director of Graduate Studies at Fundacao Getulio Vargas, Brazil. Her main research interests are International Economics and Development Economics. With several articles published in international economic journals, she is the author of the textbook Principles of International Finance and Open Economy macroeconomics. Christina Terra is member of the editorial board of the Journal of Applied Economics and associate researcher at THEMA and at CEPII.

• 1994 : Ph.D. in Economics (Princeton University, United States of America)
• 1990 : M.A. in Economics (Pontifical Catholic University of Rio de Janeiro, Brazil)
• 1988 : B.A. in Economics (Pontifical Catholic University of Rio de Janeiro, Brazil)

Full-time academic appointments

• 2015 - Present : Professor (ESSEC Business School, France)
• 2009 - 2015 : Professor (Université Cergy-Pontoise, France)
• 2008 - 2009 : Associate Professor (Université Cergy-Pontoise, France)
• 2000 - 2008 : Associate Professor (Escola de Pós-Graduacao em Economia, Fundacao Getulio Vargas (EPGE/FGV), Brazil)
• 1998 - 2000 : Assistant Professor (Escola de Pós-Graduacao em Economia, Fundacao Getulio Vargas (EPGE/FGV), Brazil)
• 1994 - 1998 : Assistant Professor (Pontifical Catholic University of Rio de Janeiro, Brazil)

Other Academic Appointments

• 2022 - 2025 : Academic director program of the Global BBA program (ESSEC Business School, France)
• 2020 - 2022 : Academic director: IMD Track of GBBA (ESSEC Business School, France)
• 2008 - Present : Research Fellow (THEMA, France)
• 2010 - Present : Research Fellow (Centre d'études prospectives et d'informations internationales (CEPII), France)
• 2010 - 2015 : Director of the École Doctorale EM2P (Université Cergy-Pontoise, France)
• 2010 - 2015 : Responsible for the Master 2 Economic Analysis (joint program with ESSEC Business School) (Université Cergy-Pontoise, France)
• 2003 - 2007 : Director of Graduate Studies (Escola de Pós-Graduacao em Economia, Fundacao Getulio Vargas (EPGE/FGV), Brazil)
• 2001 : Director of Undergraduate Studies (Pontifical Catholic University of Rio de Janeiro, Brazil)
• 1998 : Invited Professor (University of Évry-Val-d'Essonne, France)
• 1998 : Rio Branco Professor (University of Chicago, United States of America)
• 1996 - 1997 : Director of Graduate Studies, Department of Economics (Pontifical Catholic University of Rio de Janeiro, Brazil)
• 1995 - 1996 : Director of Undergraduate Studies, Department of Economics (Pontifical Catholic University of Rio de Janeiro, Brazil)

• 2006 : Haralambos Simeonides Prize to the best paper by Brazilian economists,. Paper awarded: “Trade Liberalization and the Evolution of Skill Earnings Differentials in Brazil”, with Gustavo Gonzaga and Naércio Menezes Filho. (National Association of Graduate Programs in Economics, Brazil)
• 1999 : Mario Henrique Simonsen Prize, given annually by Revista Brasileira de Economia to the best paper published in the Journal. Paper awarded: “The Political Economy of Exchange Rate Policy in Brazil: An Empirical Assessment”, with Marco Bonomo.
• 1989 - 1990 : Prize Losango for the best M.A. dissertation project

• 2018 - 2022 : ANR research grant (ESSEC Business School, France)
• 2011 - 2015 : Prime d’Excellence Scientifique (PES) (Université Cergy-Pontoise, France)
• 2009 - 2011 : Prime d'Encadrement Doctoral et de Recherche (Université Cergy-Pontoise, France)
• 1995 - 2017 : Research fellow (CNPq (National Research Council), Brazil)
• 1993 : International Finance Center, research grant (Princeton University, United States of America)
• 1993 - 1994 : Robertson Fellowship (Woodrow Wilson School, United States of America)
• 1992 : Research grant (Ford Foundation)
• 1990 - 1994 : Ph.D. fellowship (CNPq (National Research Council), Brazil)
• 1988 - 1990 : M.A. fellowship (CNPq (National Research Council), Brazil)

• EL KALLAB, T. and TERRA, C. (2021). The colonial exports pattern, institutions and current economic performance. Journal of Economic Studies, 48(8), pp. 1591-1623.
• TERRA, C. and VASCONCELOS, E. (2020). Credit Market Quality, Innovation and Trade. Revue Economique, 71(5), pp. 773-814.
• ROMELLI, D., TERRA, C. and VASCONCELLOS, E. (2018). Current Account and Real Exchange Rate changes: the impact of Trade Openness. European Economic Review, 105, pp. 135-158.
• KALLAB, T.E. and TERRA, C. (2018). French Colonial Trade Patterns and European Settlements. Comparative Economic Studies, 60(3), pp. 291-331.
• HUANG, S. and TERRA, C. (2016). Exchange Rate Populism. Economics and Politics, 28(1), pp. 105-132.
• TERRA, C. and CANÊDO PINHEIRO, M. (2016). La politique industrielle au Brésil. Outre-Terre, 47(2), pp. 82-93.
• CHARLOT, O., MALHERBET, F. and TERRA, C. (2015). Informality in Developing Economies: Regulation and Fiscal Policies. Journal of Economic Dynamics and Control, 51, pp. 1-27.
• GONZAGA, G., MURIEL, B. and TERRA, C. (2014). Wage Differentials: Trade Openness and Wage Bargaining. Brazilian Review of Econometrics, 34(1), pp. 3-23.
• TERRA, C. and RUEDIGER, T. (2013). Brésil, retour vers le futur ? Politique Etrangere, 4, pp. 87-101.
• THIBAULT, F., PAILLACARD, R. and TERRA, C. (2010). Economic Geography and Wages in Brazil: Evidence from Micro-Data. Journal of Development Economics, 91(1), pp. 155-168.
• BONOMO, M. and TERRA, C. (2010). Electoral Cycles through Lobbying. Economics and Politics, 22(3), pp. 446-470.
• TERRA, C. and VALLADARES, F.E.C. (2010). Real Exchange Rate Misalignments. International Review of Economics and Finance, 19(1), pp. 119-144.
• BEATRIZ MURIEL, H. and TERRA, C. (2009). Sources of Comparative Advantages in Brazil. Review of Development Economics, 13(1), pp. 15-27.
• TERRA, C. and VAHIA, A.L. (2008). A Note on Purchasing Power Parity: the Choice of Price Index. Revista Brasileira de Economia, 62(1), pp. 95-102.
• TERRA, C. and SOHIET, E. (2006). Indice de Controle de Capitais: Uma Analise da Legislaçao e dos Determinantes do Flixo de Capital no Brasil no Periodo 1990-2000. Estudos Economicos, 36(4), pp. 721-745.
• GONZAGA, G., FILHO, N.M. and TERRA, C. (2006). Trade Liberalization and the Evolution of Skill Earnings Differentials in Brazil. Journal of International Economics, 68(2), pp. 245-367.
• BONOMO, M. and TERRA, C. (2005). Elections and Exchange Rate Policy Cycles. Economics and Politics, 17(2), pp. 151-176.
• TERRA, C. (2003). Comment on "Great Expecations and Hard Times : The Argentine Conversibility Plan". Journal of LACEA Economia, 3(2), pp. 154-176.
• TERRA, C. (2003). Credit Constaints in Brazilian Firms : Evidence from Panel Data. Revista Brasileira de Economia, 57(2), pp. 443-464.
• TERRA, C. (1999). Tariff Design with Varing Degrees of Commitment. Journal of Development Economics, 58(1), pp. 123-147.
• TERRA, C. (1999). The 1994 Brazilian Debt Renegotiation : a Cure for Overhang ? Pesquisa e Planejamento Econômico, 29(3), pp. 297-314.
• TERRA, C. and BONOMO, M. (1999). The Political Economy of Exchange Rate Policy in Brazil : An Empirical Assessment. Revista Brasileira de Economia, 53(4), pp. 411-432.
• TERRA, C., GONZAGA, G. and CAVALCANTI, J. (1998). O Impacto do Mercosul sobre o Emprego Sectorial no Brasil. Pesquisa e Planejamento Econômico, 28(3), pp. 475-508.
• TERRA, C. (1998). Openess and Inflation : a New Assessment. Quarterly Journal of Economics, 113(2), pp. 641-648.
• TERRA, C. (1997). Debt Crisis and Inflation. Revista Brasileira de Economia, 17(2), pp. 21-48.
• TERRA, C. and GONZAGA, G. (1997). Equilibrium Real Exchange Rate, Volatility and Stabilization. Journal of Development Economics, 54(1), pp. 77-100.
• TERRA, C. (1994). Economy Policy for the Environment : The Role of International Cooperation. Revista Brasileira de Economia, 14(2), pp. 133-158.

• TERRA, C. (2015). Principles of International Finance and Open Economy Macroeconomics: Theories, Applications, and Policies, Academic Press.
• TERRA, C. (2013). Financas Internacionais - Macroeconomia Aberta : Teoria, Aplicaçoes e Politicas, Elsevier-Campus. Elsevier.

• TERRA, C. (2016). La Crise Made in Brazil. In: L'économie mondiale 2017. 1st ed. La Découverte, pp. 106-119.
• LUCAS, P.F., A. HADDAD, E. and TERRA, C. (2013). The Long Run Interplay Between Trade Policy and the Location of Economic Activity in Brasil Revisited. In: Geography, µInstitution and Regional Economics Performance. 1st ed. Berlin: Springer, pp. 331-351.
• TERRA, C. (2012). Brésil : l'avenir est-il pour maintenant ? In: L'économie mondiale 2013. 1st ed. pp. 55-71.
• TERRA, C. (2009). Comment on "Sugar prices" laboricome and poverty in Brazil. In: Economia : Journal of the Latin American en Carribean Economic Association. 1st ed. pp. 124-126.
• TERRA, C. (2008). Comment on "Links between Trade and Finance - A Disaggregated Analysis". In: Financial Markets Volatility and Performance in Emerging Markets. 1st ed.
• TERRA, C. (2002). Finance en Changing Trade Patterns in Brazil. In: Finance and Competitiveness in Developing Countries. 1st ed. New York: Routledge, pp. 45-76.
• TERRA, C. and BONOMO, M. (2001). The Dilemma of Inflation vs Balance of Payements : Crawling Pegs in Brazil. In: The Currency Game - Exchange Rate Politics in Latin America. 1st ed. Washington DC: Inter-American Development Bank, pp. 119-155.
• TERRA, C. and GONZAGA, G. (1997). Etabilizacion, Volatilidad y Equilibro de la Tasa de Cambio Real. In: Estabilizacion y Politica en America Latina. 1st ed. Tercer Mundo Editores, pp. 213-238.

• TERRA, C. (2016). Brazil: Self-Inflicted Pain. ESSEC Business School.
• ROMELLI, D., TERRA, C. and VASCONCELOS, E. (2015). Current Account and Real Exchange Rate changes: the Impact of Trade Openness. ESSEC Business School.
• HYUNJOO, R. and TERRA, C. (2015). Exchange Rate Dynamics under Financial Market Frictions.
• EL KALLAB, T. and TERRA, C. (2014). French Colonial Trade Patterns: European Settlement.
• GONZAGA, G., HERNANDES, B.M. and TERRA, C. (2014). Wage Differentials: Trade Openness and Wage Bargaining.