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Javier Reyes

Javier A.  Reyes


Academic Affairs
Office: WJWH520
(479) 575-6079


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  • Ph.D, Texas A&M University, Economics, 8/2003
  • B.A., Instituto Tecnologico y de Estudios Superiores de Monterrey, Economics with a Finance Minor Degree, 5/1998

Research Interests

  • Monetary Theory and Policy Issues in Emerging Economies
  • Capital Flows, Foreign Debt and Exchange Rates
  • Complex Network Theories and their applications to International Trade and Development in Emerging Countries, International Finance, Contagion and Crises

Teaching Interests

  • International Economics (Trade and Finance)
  • Macroeconomics
  • Monetary Theory and Policy
  • Econometrics
  • Emerging Economies


Dr. Reyes's research interests are in the areas of Monetary Theory and Policy as well as International Economics. On the monetary theory side his research agenda focuses on inflation targeting and exchange rate issues in emerging economies. On the international economics side he is currently involved in two different projects. The first one deals with issues of capital flows into emerging economies, debt maturity structure and capital sudden stops. The focus of this research is the study of the optimal debt maturity structure when capital-sudden-stops are a possibility (dynamic stochastic models). The second one is a research project that attempts to bring new ideas from complex network theory to international trade, growth and development, and financial contagion.
Javier Reyes, Cary Deck, Jungmin Lee, (in press). Are Subjects Making Financial Decisions in Lab Auctions or Are They Just Gambling? , Applied Economics Letters
Cary Deck, Jungmin Lee, Javier Reyes, (in press). Investing versus Gambling: Experimental Evidence of Multi-Domain Risk Attitudes, Applied Economics Letters
Javier Reyes, Rossitza Wooster, Stuart Shirrell, (2014). Regional Trade Agreements and the Pattern of Trade: A Networks Approach,World Economy 37 (8): 1128-1151
Javier Reyes, Matteo Chinazzi, Giorgio  Fagiolo, Stefano Schiavo, (2013). Post-Mortem Examination of the International Financial Network,Journal of Economic Dynamics and Control,
Javier Reyes, Camelia Minoiu, (2013). A Network Analysis of Global Banking: 1978¬–2010,Journal of Financial Stability 9 (2): 168-184
Cary Deck, Jungmin Lee, Javier Reyes, Chris Rosen, (2013). A Failed Attempt to Explain Within Subject Variation in Risk Taking Behavior Using Domain Specific Risk Attitudes,Journal of Economic Behavior & Organization, 87: 1-24
Raja Kali, Javier Reyes, (2013). Growth Networks,Journal of Development Economics, 101 (March): 216-227
Cary Deck, Jungmin Lee, Javier Reyes, Chris Rosen, (in press). Risk Taking Behavior: An Experimental Analysis of Individuals and Pairs, Southern Economic Journal
Javier Reyes, W. Charles Sawyer, (2011). Latin American Economic Development,Routledge (BOOK)
Javier Reyes, Camelia Minoiu (IMF), (2011). A Network Analysis of Global Banking: 1978-2010,IMF Working Papers Series
Javier Reyes, Raja Kali, (2010). Financial Contagion on the International Trade Network,Economic Inquiry, 48 (4): 1072-1101
Javier Reyes, Giorgio Fagiolo, Stefano Schiavo, (2010). The Evolution of the World Trade Web: A Weighted Network Analysis,Journal of Evolutionary Economics 20 (4): 479-514
Javier Reyes, Giorgio Fagiolo, Stefano Schiavo, (2010). Using Complex Networks Analysis to Assess the Evolution of International Economic Integration: the cases of East Asia and Latin America,Journal of International Trade and Economic Development 19 (2): 215-239
Javier Reyes, Giorgio  Fagiolo, Stefano Schiavo, (2010). International Trade and Financial Integration: A Weighted Network Analysis,Quantitative Finance 10 (4): 389-399
Javier Reyes, Claude Lopez, (2009). Stationary Properties of the Real Interest Rate and the per-capita Consumption Growth Rate: Empirical Evidence for Theoretical Arguments ,Applied Economics, 41 (3): 1643 - 1651
Javier Reyes, Giorgio Fagiolo, Stefano Schiavo, (2009). Dynamics and Evolution of the International Trade Network,Complex Networks, Studies in Computational Intelligence 207: 1-14
Javier Reyes, Giorgio Fagiolo, Stefano Schiavo, (2009). The World-Trade Web: Topological Properties, Dynamics and Evolution,Physical Review E 79 (3): 036115
Javier Reyes, Christopher Ball, (2009). International Reserve Holdings: Interest Rates Matter!,Applied Economics Letters, 16 (4): 343-348
Javier Reyes, Martina Garcia, Ralph Lattimore, (2009). The International Economic Order and Trade Architecture,Spatial Economic Analysis 4 (1): 73-102
Javier Reyes, Giorgio Fagiolo, Stefano Schiavo, (2008). Assessing the Evolution of International Economic Integration using Random Walk Betweenness Centrality: The Cases of East Asia and Latin America,Advances in Complex Systems 11 (5): 685-702
Javier Reyes, Giorgio Fagiolo, Stefano  Schiavo, (2008). On the Topological Properties of the World Trade Web: A Weighted Network Analysis,Physica A: Statistical Mechanics and its Applications 387 (15): 3868 - 3873
Cary Deck, Javier Reyes, (2008). An Experimental Investigation of Moral Hazard in Costly Investments,Southern Economic Journal, 74 (3): 725-746
Cary Deck, Jungmin Lee, Javier Reyes, (2008). Risk Attitudes in Large Stake Gambles: Evidence from a Game Show,Applied Economics, 40 (1): 41-52
Javier Reyes, Christopher Ball, (2008). Inflation Targeting or Fear of Floating in Disguise? A Broader Perspective,Journal of Macroeconomics, 30 (1): 308-326
Javier Reyes, (2007). Exchange Rate Pass-through Effect and Inflation Targeting in Emerging Economies: What is the Relationship?,Review of International Economics 15 (3): 538-559
Javier Reyes, Raja Kali, Fabio Mendez, (2007). Trade Structure and Economic Growth ,Journal of International Trade and Economic Development 16 (2): 245-269
Javier Reyes, Raja Kali, (2007). The Architecture of Globalization: A Network Approach to International Economic Integration,Journal of International Business Studies, 38: 595 - 620
Javier Reyes, C. P. Ball, (2004). Inflation Targeting or Fear of Floating in Disguise: The case of Mexico.,International Journal of Finance & Economics, 9 (1): 49-69
Javier Reyes, (2003). Inflation Targeting in Emerging Countries: Modeling the Exchange Rate Issues?,Journal of Business & Economics Research, 1 (4): 61-74
Honors College Leadership Award, Honors College, University of Arkansas, 2012
Multicultural Center - Diversity Advisor Recognition, University of Arkansas, Multicultural Center, 2011
Inducted into the the Teaching Academy of the University of Arkansas, University of Arkansas, Teaching Academy, 2011
40-under-40 , NWA Arkansa Business Journal, 2011
2008 WCOB Award for Best all-Around Faculty Member., Sam M. Walton College of Business, 2009
Sam M. Walton College of Business
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