Jasmina Chauvin - Faculty & Research - Harvard Business School
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Jasmina Chauvin

Doctoral Student

Jasmina Chauvin is a doctoral candidate in Strategy at Harvard Business School and an Associate at the Center for International Development at Harvard University. Jasmina’s research focuses on the role of geography and location in firm performance and firm organization. In her dissertation, she examines how large-scale investments in road infrastructure affected the nature of firm competition and collaboration in local markets.

Prior to joining the Doctoral program, Jasmina worked as advisor to the Government of Liberia, focusing on SME development and natural resource management strategies. Jasmina has also acted as consultant to a number of governments and international organizations, focusing on firm competitiveness and economic diversification. Jasmina started her career at Citigroup as a financial analyst in the Infrastructure and Energy Finance group.

Jasmina earned a Master’s degree in Public Administration/International Development from the Harvard Kennedy School and a Bachelor’s degree in International Political Economy, with honors, from Georgetown University.

Book Chapters
  1. Foreign Direct Investment, Finance and Economic Development

    Laura Alfaro and Jasmina Chauvin

    Research has sought to understand how foreign direct investment affects host economies. This paper reviews the empirical literature, specifically addressing the question: How does FDI affect economic development of host countries and what is the role of local financial markets in mediating the potential benefits? We first define FDI and discuss general theories on types and drivers of FDI. This review takes a host-country perspective rather than a firm perspective and thus only highlights the key insights from the rich firm-level literature on MNCs. We then focus on how financial conditions in host countries affect the extent of FDI-related capital inflows, shape the operations of foreign firms, and mediate the extent of productivity spillovers from FDI to local firms. The survey focuses mainly on work related to developing countries.

    Keywords: Foreign Direct Investment; Developing Countries and Economies; Financial Condition; Development Economics;


    Alfaro, Laura, and Jasmina Chauvin. "Foreign Direct Investment, Finance and Economic Development." In Encyclopedia of International Economics and Global Trade, Vol. 3: Foreign Direct Investment and the Multinational Enterprise, edited by Mariana Spatareanu. Singapore: World Scientific, forthcoming.  View Details
  2. Fiscal Issues for Cross-Border Natural Resource Projects

    Joseph Bell and Jasmina Chauvin

    Projects that cross national boundaries give rise to the complex question of how the project's taxable income should be allocated among the national entities. This chapter utilizes a hypothetical mining project with the mine and infrastructure in two different countries to illustrate the fiscal issues arising out of cross-border projects. The unitary nature of the mine and its downstream infrastructure, each fully dependent upon the other, means that any exercise to separate the two into independent entities for tax purposes is highly arbitrary. No comparable uncontrolled transactions are likely to exist for applying the traditional arms-length principle. The cost-plus method can result in estimates for taxable income allocated to the downstream jurisdiction that vary by a factor of four or more. An alternative, not without its own limitations, is to apply a profit-split or formulary allocation to apportion income between jurisdictions. These ambiguities become particularity important when tax rates in the relevant national entities differ because then they can be used strategically, namely to shift project income to the more favorable jurisdiction.

    Keywords: extractive industries; Business & government relations; Transfer Pricing; taxation; Taxation; Infrastructure; Cross-Cultural and Cross-Border Issues; Business and Government Relations; Mining Industry;


    Bell, Joseph, and Jasmina Chauvin. "Fiscal Issues for Cross-Border Natural Resource Projects." Chap. 8 in International Taxation and the Extractive Industries, edited by Philip Daniel, Michael Keen, Artur Świstak, and Victor Thuronyi, 190–214. Routledge Studies in Development Economics. Routledge, 2016.  View Details
Working Papers
  1. Moving to the Adjacent Possible: Discovering Paths for Export Diversification in Rwanda

    Ricardo Hausmann and Jasmina Chauvin

    How can Rwanda, which currently has one of the lowest levels of income and exports per capita in the world, grow and diversify its economy in presence of significant constraints? We analyze Rwanda's historical growth and trade performance and find that Rwanda's high transportation costs and limited productive knowledge have held back greater export development and have resulted in excessive rural density. Three basic commodities — coffee, tea, and tin — made up more than 80 percent of the country's exports through its history and still drive the bulk of export growth today. Given Rwanda's high population density and associated land scarcity, these traditional exports cannot create enough jobs for its growing population, or sustainably drive future growth. Rwanda needs new, scalable activities in urban areas. In this report, we identify a strategy for greater diversification of exports in Rwanda that circumvents the key constraints and is separately tailored for regional and global export destinations. Our results identify more than 100 tradable products that lie at Rwanda's knowledge frontier, are not intensive in Rwanda's scarce resources, and economize on transportation costs. Our analysis produces a vision of a more diversified Rwanda, which can be used as a guide for investment promotion decisions. We illustrate an approach that can be applied to other settings in order to identify opportunities for export diversification that take seriously local constraints and external market opportunities.

    Keywords: Export diversification; industrialization; economic complexity; International trade; Rwanda; Diversification; Trade; Transportation; Developing Countries and Economies; Rwanda;


    Hausmann, Ricardo, and Jasmina Chauvin. "Moving to the Adjacent Possible: Discovering Paths for Export Diversification in Rwanda." Center for International Development at Harvard University Working Paper, No. 24, April 2015.  View Details
Cases and Teaching Materials
  1. Liberia

    Eric Werker and Jasmina Beganovic

    From 1989 to 2003 civil war raged in Liberia, causing GDP per capita to drop an unprecedented 90% from peak to trough. The roots of Liberia's conflict and economic decline are complex and intertwined, resting on over a century of discriminatory elite rule and twisted by ethnic politics during a military dictatorship. By late 2011, eight years of post-conflict government have restored basic order, re-opened the country to foreign investors, and jump-started the small economy. But the country's business model may unsettle its political stability. As Africa's first democratically elected female head of state (and a recipient of the Nobel Peace Prize) Ellen Johnson Sirleaf goes into her reelection campaign for Liberia's presidency, she must decide how to keep the country on its fragile but quick recovery, sowing the seeds for peace and prosperity rather than renewed conflict.

    Keywords: War; Developing Countries and Economies; Financial Crisis; Government and Politics; Macroeconomics; Liberia;


    Werker, Eric, and Jasmina Beganovic. "Liberia." Harvard Business School Case 712-011, September 2011. (Revised March 2014.)  View Details