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SPIN-RSCI: 6241-9020
ORCID: 0000-0001-8341-5292
ResearcherID: U-4397-2019
Scopus AuthorID: 57197767554
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A. M. Karminsky
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Alexey Rybalka

  • Senior Research Fellow:Centre for Fundamental Studies / Laboratory of Analysis and Economic Processes Forecasting
  • Alexey Rybalka has been at HSE University since 2010.


  • 2015

    Master's in Finance and Credit
    HSE University

  • 2013

    Bachelor's in Applied Mathematics and Information Science
    HSE University

Continuing education / Professional retraining / Internships / Study abroad experience

May 2014 - Operational Risk Management Program of the Luxembourg Ministry of Finance in cooperation with the Corporate University of Sberbank (Mastering operational risk management, Luxembourg Ministry of Finance). Instructor: Sergio Scandizzo (European Investment Bank in Luxembourg).

March 2015 - Business Process Management Ernst & Young (Moscow).

May 2015 - Project Management Expert - PME (Project Management Expert in accordance with the international standards of the Project Management Institute (PMI)).

December 2017 - laureate of the first degree of the International Youth Forum "The Future of Eurasian and European Integration: Foresight-2040", organized by the Institute of Economic Strategies and the Institute of Applied Systems (Institute for Economic Strategies and International Institute for Applied Systems Analysis (IIASA), Vienna-Laxenburg, Austria, December 4-9, 2017).

Postgraduate Studies

Approved topic of thesis (in English): Comparative analysis of risk factors in models of credit risk: Russian manufacturing.



  • 2017
    XVIII April International Academic Conference on Economic and Social Development (Москва). Presentation: Modeling probability of default in the construction sector: factors of corporate governance
  • Second World Congress of Comparative Economics «1917 –2017: Revolution and Evolution in Economic Development» (St. Petersburg). Presentation: How corporate governance impacts on the negative net worth: evidence from Russia
  • 26th Annual Conference/Meeting of the Society for Risk Analysis – Europe (SRA-E). Theme: “New challenges, new threats: Resilience and adaptation in a risky world”. (Лиссабон). Presentation: How corporate governance and expectations impact on the probability of default: comparative analysis of industries in Russia
  • 2015
    VI международный конгресс по контроллингу (Владимир). Presentation: Индекс конкурентоспособности строительной отрасли
  • 2016-2017 Teaching assistant for the course "Risk Management in financial institutions (Master course, Faculty of economic Sciences; Financial markets and financial institutions; 2-year, 1, 2 module).


2016 - 2018 Research project: "Strategic analysis of the long-term development problems of the Russian economy, its major industries and sectors". Junior Researcher, Laboratory for Analysis and Forecast of Economic Processes, Center for Fundamental Studies, National Research University Higher School of Economics.

Employment history

  • 2015 to present - Senior Expert, Direction of analysis and forecasting of the real sector, Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF), Moscow
  • 2015 to present - Researcher, Laboratory of Analysis and Forecast of Economic Processes, Center for Basic Research, HSE, Moscow
  • 2015 to present - Researcher, Laboratory for Analysis and Forecasting Industrial Development Institute of Economic Forecasting of the Russian Academy of Sciences (RAS), Moscow
  • 2013-2015 - Head of Project Management Group, Chief Analyst, Rating Agency of the Construction Complex (RASK LLC), Moscow

2018 Postgraduate study: Higher School of Economics, Faculty: Postgraduate School of Economics, specialty "Researcher. Teacher-researcher".

2015 Master's degree: High School of Economics, Faculty: Banking Institute, specialty "Financial Analyst".

2013 Bachelor's degree: High School of Economics, Faculty: Business Informatics, specialty "Applied Mathematics and Informatics". 

Dissertation Defenses at HSE University Move Online

For the past month, all dissertation defenses at HSE have been conducted online. However, this format is far from new: over the past two years, more than 80% of defenses at HSE University were conducted with at least one committee member attending remotely.