Dieter Wang, PhD
N E W S
My thesis chapter on "Transitions into and out of food insecurity" has been published!
N E W S
Have a look at our new blog series on "Could a sovereign sustainability-linked bond help protect the Amazon?"
About me
Hi, my name is Dieter?
People often ask me: How do you pronounce your name? A very good question.
In Germany, we pronounce it as "dee-tah". I usually say "like Peter, but with a D". But that hasn't prevented people from proposing their own pronunciations: "diet-er" (i.e. someone who diets for a living, see here, here, or even here), "deeeedr" (my US friends), "diae-tah" (Spanish-inspired, a bit like Vieta from solving quadratic equations), "deed-tre", "dey-ter", "detour" , "dee-yeh-tah" (Mandarin-inspired, 地爷塔), "derty", "teacher", "di-teur". I hope this helps.
and welcome to my personal website!
I'm an economist by training and am working at the World Bank to find policy-relevant insights into sustainable finance, sovereign ESG, natural capital and government bonds. I explore these topics by applying econometrics and machine learning to various datasets, ranging from financial Bloomberg data to geospatial satellite data. I'm passionate about getting the key insights across with visualizations that tell a story. During my time, I've collaborated with central banks, tech companies, reinsurances, investment banks and even a space agency. I held visiting positions at Columbia Business School and the Dutch Central Bank.
What I do at the World Bank
I first joined the Bank in 2018 as a consultant and have since become a staff member of the Long-Term Finance team in the Finance, Competitiveness and Innovation Global Practice. You can read up on my latest work on World Bank blogs.
Sustainability-linked Bonds
"Issuances of green bonds, social bonds and other use of proceeds bonds continue to break new records and are projected to make up more than 40% of new issuances in Europe. Voices criticizing greenwashing, reporting standards and questioning whether green financing instruments are really adding to sustainable finance have become louder as well." (from Part 1)
Sustainability-linked bonds (SLBs) are promising alternatives. "At the end of the day, issuers want to be sure that their efforts are adequately rewarded, and investors want to know that they are having a real impact. Otherwise, SLBs will face the same questions about greenwashing and additionality. A KPI based on a transparent, scientific model addresses these concerns by construction." (from Part 2)
Could a sovereign sustainability-linked bond help protect the Amazon? Part 1 (2022) with F. Stewart, B. Gurhy, M. Hanusch.
Private Sector Development Blog
Could a sovereign sustainability-linked bond help protect the Amazon? Part 2 (2022) with F. Stewart, B. Gurhy, M. Hanusch.
Private Sector Development Blog
Sovereign ESG
Environmental, Social and Governance (ESG) investing has finally struck a chord with mainstream finance. With billions of dollars under sustainable management, ESG is no longer a niche topic but is becoming ordre du jour in the investment world. The scores, however, are not a one-fit-all solution for sustainability, especially on the country level. As part of the long-term finance team, I look at the ESG scores and use statistical methods to examine how they relate to national income, natural wealth or credit ratings.
Credit Worthy: ESG Factors in Sovereign Credit Ratings (2022) with E. Gratcheva, A. Skarnulis, B. Gurhy, F. Stewart. World Bank.
Full report
Natural Allies: Wealth and Sovereign ESG (2021) with E. Gratcheva. World Bank.
Chapter in flagship report "The Changing Wealth of Nations 2021: Managing Assets for the Future"
A New Dawn: Rethinking Sovereign ESG (2021) with E. Gratcheva, B. Gurhy, T. Emery, L. Oganes, J. K. Linzie, L. Harvey, K. Marney, J. Murray, and R. Rink. World Bank and J.P. Morgan.
Full report Abridged version Headline messages Blog
Demystifying Sovereign ESG (2021) with E. Gratcheva, T. Emery. World Bank.
Full report Blog
Food Insecurity
As a modeling consultant for the Fragility, Conflict and Violence unit, I collaborated with leading insurance companies and global tech companies on the Famine Action Mechanism. In this project, I developed a stochastic model to understand and predict the population dynamics in food insecurity. See here (World Bank) and here (Washington Post) for press coverage of our project.
Transitions into and out of food insecurity: A probabilistic approach with panel data evidence form 15 countries (2022) with B. Andrée, P. Spencer, A. Chamorro. Volume 159.
World Development Working paper version
Predicting Food Crises (2021) with B. Andrée, A. Kraay, P. Spencer, A. Chamorro.
World Bank Policy Research Working Papers No. 9412 Press release (World Bank) Article (Washington Post) Let's Talk Development Blog
Visualizations
Dutch financial sector dependence on biodiversity
Biodiversity and nature are not distinct from the financial sector. In case of the Dutch pension funds, how dependency is there for each Euro invested?. The pension funds are coupled to business processes, which in turn are linked to the ecosystems. The dependency is based on two factors: how production processes are disrupted and the financial losses if a ecosystem service is lost. Open on DNB.nl website
Network stress testing: Rippling network
Banking systems can be represented as networks, where each node is a bank and each link could be a lending relationship, a common asset holding, a similar business model, etc. A central question is, how would a shock to a single bank ripple through the system? This visualization shows just that with a simulated network. Open in new window
BIS - international banking statistics
In an globalised world, countries are more connected than ever before. This relates to trade, business, travel but also to lending. This visualization shows how countries are linked to each other through their banks. Who lends to whom and how did the relationships evolve over time? Use this tool with data from the Bank of International Settlements to explore how banking changed over time. Open in new window
Chain of contagion
Financial contagion is the idea that if a bank goes into distress, it will also affect other banks connected to it. These in turn affect their peers etc. However, depending on the network structure, this effect can be amplified or dampened as it propagates through the network. This tool here explores this relationship for different network types and shock parameters. Open in new window
Education
2021
Ph.D. in Financial Econometrics
Tinbergen Institute and VU Amsterdam
Supervisors: Iman van Lelyveld and Julia Schaumburg
Dissertation: Empirical Studies on Financial Stability and Natural Capital
Visiting Scholar
Columbia Business School
Host: Paul Glasserman
2016
M.Phil. in Economics
Tinbergen Institute and University of Amsterdam
Econometrics and Finance tracks
2014
B.Sc. International Economics
Eberhard-Karls-University Tübingen
Exchange Year
The University of Hong Kong
Defense on May 3, 2021
Committee members
prof.dr. Paul Glasserman, Columbia University
prof.dr. Jacob de Haan, University of Groningen
prof.dr. André Lucas, Vrije Universiteit Amsterdam
prof.dr. Rick van der Ploeg, Universiteit van Amsterdam, University of Oxford
dr. Bernd Schwaab, European Central Bank
Publications
Peer-reviewed journals
Transitions into and out of food insecurity: A probabilistic approach with panel data evidence form 15 countries (2022) with B. Andrée, P. Spencer, A. Chamorro. Volume 159.
World Development Working paper version
Working papers
Banking sector risks in the aftermath of climate-related natural disaster (forthcoming) with M.G.J. Regelink, O. Nie.
World Bank Policy Research Working Papers No. XXXX
Natural Capital and Sovereign Bonds (2021) with myself.
World Bank Policy Research Working Papers No. 9606
Stochastic Modeling of Food Insecurity (2021) with B. Andrée, P. Spencer, A. Chamorro.
World Bank Policy Research Working Papers No. 9413 Press release (World Bank) Article (Washington Post) Let's Talk Development Blog
Predicting Food Crises (2021) with B. Andrée, A. Kraay, P. Spencer, A. Chamorro.
World Bank Policy Research Working Papers No. 9412 Press release (World Bank) Article (Washington Post) Let's Talk Development Blog
Pollution and Expenditures in a Penalized Vector Spatial Autoregressive Time Series Model with Data-Driven Networks (2019) with B. Andrée, P. Spencer, S. Azari, A. Chamorro, H. Dogo.
World Bank Policy Research Working Papers No. 8757
Smooth marginalized particle filters for dynamic network effect models (2020) with J. Schaumburg.
Tinbergen Institute Discussion Paper 2020-023/III
Do information contagion and business model similarities explain bank credit risk commonalities? (2019) with I. van Lelyveld and J. Schaumburg.
European Systemic Risk Board, Working Paper Series, No. 94
Asset pricing through peer networks (2019) with J. Schaumburg.
Proceedings of Paris December 2019 Finance Meeting EUROFIDAI - ESSEC
Policy reports
Amazon Economic Memorandum (forthcoming) World Bank.
Country Climate and Development Report – Brazil (forthcoming) World Bank.
The Implications of Economic and Social Rights for Sovereign Debt Investing (forthcoming) with E. Gratcheva, B. Gurhy, A-M. Brooks, S. Randolph, K.C. Clay. World Bank and HRMI.
Credit Worthy: ESG Factors in Sovereign Credit Ratings (2022) with E. Gratcheva, A. Skarnulis, B. Gurhy, F. Stewart. World Bank.
Full report
Geospatial ESG: The Emerging Application of Geospatial Data for Gaining 'Environmental’ Insights on the Asset, Corporate and Sovereign Level (2021) with D. Patterson, S. Schmitt, P. Izquierdo, P. Tibaldeschi, H. Bellfield, B. Gurhy, A. d’Aspremont, P. Tello, C. Bonfils-Bierer, S. Brumby, J. Barabino, N. Volkmer, J. Zheng, C. Tayleur, F.A. D’Agnese, J.A. D’Agnese. World Bank, WWF and Global Canopy.
Full report WWF Blog
Natural Allies: Wealth and Sovereign ESG (2021) with E. Gratcheva. World Bank.
Chapter in flagship report "The Changing Wealth of Nations 2021: Managing Assets for the Future"
A New Dawn: Rethinking Sovereign ESG (2021) with E. Gratcheva, B. Gurhy, T. Emery, L. Oganes, J. K. Linzie, L. Harvey, K. Marney, J. Murray, and R. Rink. World Bank and J.P. Morgan.
Full report Abridged version Headline messages Blog
Demystifying Sovereign ESG (2021) with E. Gratcheva, T. Emery. World Bank.
Full report Blog
Spatial Finance: Challenges and Opportunities in a Changing World (2020) with D. Patterson, Y. Ariel, B. Burks, E. Gratcheva, S. Hosking, N. Klein, L. Protopopova, E. Ruiz, S. Schmitt, B. Shackelton, D. Wuebbles. World Bank and WWF.
Full report
Philippines Financial Sector Assessment Program: Climate Change and Environmental Risks and Opportunities (2019) with M.G.J. Regelink, N.A. Ranger. World Bank and IMF.
Full report
Blogs
Could a sovereign sustainability-linked bond help protect the Amazon? Part 1 (2022) with F. Stewart, B. Gurhy, M. Hanusch.
Private Sector Development Blog
Could a sovereign sustainability-linked bond help protect the Amazon? Part 2 (2022) with F. Stewart, B. Gurhy, M. Hanusch.
Private Sector Development Blog
New pieces for the puzzle? Geospatial insights into droughts and employment in Brazil (2022) with B. Gurhy, D. Patterson.
Private Sector Development Blog
Modeling food crises: Looking at a complex problem through two lenses (2020) with A. Kraay, B. Andrée.
Let's Talk Development Blog
Refereeing
Science Advances, Journal of Empirical Finance, International Finance, Regional Science and Urban Economics
Contact
Want to get in touch? Send me an email or visit my LinkedIn page.