Born and raised in Germany, Peter Walkenhorst is an international economist, who nowadays lives near Paris/France.
Most recently, Peter has been working as an economics consultant on international development issues, while also lecturing
at the American University of Paris.
Earlier, he worked in a trio of international organizations: as Division Manager in the Research Department
of the African Development Bank,
as Senior Economist in the World Bank’s Trade Department, and as
Economist in the OECD’s Departments for Economics, Trade, and Agriculture.
As part of his work, he has written more than one hundred research and policy papers,
mostly in the areas of international, development, and agricultural economics.
Peter received a Ph.D. in
applied economics from Stanford University, an MBA
from Imperial College London, and undergraduate diplomas in
agricultural sciences and economics from University of Bonn.
Below you can find annotated listings of some of his university courses and research publications, with links to
Since 2013, Peter has been a Lecturer at the American University of Paris.
He has been teaching undergraduate and graduate students in both the Department of Economics and the Department
for International and Comparative Politics. Below is a synapsis of his courses:
- Economics of Sustainable Development familiarises students with concepts and methods that are used by economists
for understanding and analysing the sources of market failures that lead to unsustainable resource use, the policy means of
correcting these challenges, and the role of market mechanisms to contribute to sustainable outcomes.
The course exposes students to some of the existing controversies over diagnostic measures,
goals and choices of policy instruments, and the role of markets and governments in relation to sustainable
- Economics of Globalization is an introduction to global economic integration and the institutions that regulate it.
The course analyses the causes, nature, and effects of the growing internationalization of economic activity with particular
attention to trade, finance, and economic development linkages. It evaluates the arguments of both the advocates
and critics of globalization and assesses public policy options for improving international cooperation and global governance.
- Introduction to International Economic Relations is an introductory course in international economics, which aims at providing
students with the necessary tools for the understanding and analysis of international economic issues. The first part of the course deals with the theoretical core
of international trade and corresponding models, while the second part covers monetary issues relating to foreign exchange and the balance of payments.
- Principles of Microeconomics acquaints students with the tools and concepts of economics as applied to the household or firm level.
The fundamental role of prices and markets in the allocation of scarce resources is examined. The discussion further extends to cases and conditions
under which markets do not work well and the role of government in correcting the resulting market failures.
- Intermediate Microeconomics is an upper-level undergraduate course that provides a more formal treatment of microeconomic issues.
Basic economic models of constrained optimization and equilibrium analysis are introduced and applied to different economic situations.
Topics covered include consumer behavior, the economics of uncertainty and information, and theories of the firm and market structure.
- Economics for Policymaking provides a broad, non-technical treatment
of public policy issues that affect contemporary society from an economic perspective. The course represents
an introduction to the principles of economics through case studies, issue discussions, and concept
reviews. It helps students develop a general understanding of the market system's functioning and
failures, and offers a critical and empirical overview of the effectiveness of microeconomic and
- Advanced Quantitative Methods for Policy Makers offers an overview of
quantitative techniques and tools frequently used in applied public policy research, with emphasis on econometric analysis.
The course prepares students to evaluate public policy studies that utilize regression analysis, to interpret
econometric results, and to perform independent research using real-world data.
- Political Analysis introduces students to research methods and design used in the social sciences.
It teaches students how to gather evidence through the use of established research techniques and how to analyze qualitative and quantitative data.
Students are learning how to gather empirical data using surveys, experiments, content analysis, case studies, or field research.
A complete listing of all the courses Peter has taught, including lectures given at institutions other than AUP, can be
found in separate teaching overview.
Below are a few examples of Peter's research publications. A full listing of all his published articles and reports is available
on a separate page.
Many of these papers can also be found on
and downloaded from research paper repositories, such as
Iza Lejárraga & Peter Walkenhorst, 2013.
"Economic Policy, Tourism Trade and Productive Diversification,"
issue 135-136, pages 1-12.
Over the past two decades, tourism exports have been a major driver of economic growth in many emerging and developing countries.
Yet, increased tourism revenues do not automatically translate into structural transformation and broad-based economic development.
Drawing on cross-sectional data, this paper gauges the extent to which tourism has contributed to economic diversification in a large
sample of developing countries. An econometric model is used to assess the relative importance of a country’s natural endowments,
level of development, institutional maturity, business environment, and trade regulations in explaining cross-country differences
in linkages between tourism and the general economy. The central findings contain encouraging lessons for developing countries:
domains that are more amenable to policy interventions in the short term, such as the business environment or trade regulations,
matter most in fostering productive linkages between tourism and the general economy. In contrast, fixed factors, such as land availability,
or longer-terms goals, such as advances in the level of development, have less influence.
Paul Brenton & Peter Walkenhorst, 2010.
"Impacts of the Rise of China on Developing Country Trade: Evidence from North Africa,"
African Development Review,
issue 22(1), pages 577-586.
Despite the global financial and economic crisis, China has continued to experience strong export-driven growth
and, indeed, became the world’s largest exporting country in 2009. This rise of China in international markets presents African
countries with growing competition in their home and export markets, but also with new opportunities. This paper focuses
on the impacts of these developments on countries in North Africa, which are directly affected by the prominence of Chinese
manufacturing. In particular, the analysis addresses two policy questions: First, is competition from China leading to substantial
displacement of resources that incur significant adjustment costs while moving to new activities, or are there opportunities to
exploit finer patterns of specialization that entail less disruption? And second, will policies that mitigate the impact of competition
from China limit the longer-term capacity to exploit new opportunities in the global market? The findings from the empirical
analysis suggest that policy makers can support North African producers in the increasingly fierce competition with China by
reviewing the regulatory and incentives environment, reducing trade logistics costs, and broadening trade promotion efforts to
Peter Walkenhorst & Nora Dihel, 2006.
"Trade Impacts of Increased Border Security Concerns,"
International Trade Journal 20(2006)1; pp. 1-31.
This article uses estimates of changes in frictional trading costs
and the GTAP computable general equilibrium model to assess the
effects of increased security concerns following the terrorist
attacks of September 11 on international trade. As a result of
additional security measures, trading companies have been confronted
with additional costs relating to transport, handling, insurance,
and customs. These costs tend to make international trade
more expensive and reduce trade flows. The results from scenario
analyses show that regions with high trade to GDP ratios and
sectors with elastic import demand suffer the largest trade and
welfare losses in relative terms.
Peter Walkenhorst, 2004.
"Economic Transition and the Sectoral Patterns of Foreign Direct Investment,"
Emerging Markets Finance and Trade 40(2004)2; pp. 5-26.
The paper investigates the factors that influence the distribution of foreign direct
investment (FDI) across countries of investor-origin and manufacturing industries in Poland.
The results confirm the general appropriateness of the basic gravity model formulation
for FDI analysis in transition countries, as well as important links between FDI, trade,
and labor costs. However, considerable diversity across manufacturing industries is found
with respect to the extent to which factors such as capital costs and industry competitiveness
influence foreign investment activities. Hence, generalizing claims regarding the determinants
of FDI flows should be treated with care.
Peter Walkenhorst, 2001.
"Sugar Sector Restructuring in Poland: Some Benefits and Costs of EU-accession,"
European Review of Agricultural Economics 28(1); pp. 57-78.
This paper quantifies some of the costs and benefits for the Polish sugar sector from Poland’s participation
in the EU’s common agricultural policy. A non-linear, spatial optimisation model is used. The results indicate
potential for substantial efficiency gains from improved access to much needed investment funds and modern production
technology. Costs might be incurred due to the introduction of impediments to structural change, such as sugarbeet
delivery regulations. Overall, the analysis highlights the importance of decisive privatisation and liberalisation
efforts during the pre-accession period.