Felix Rioja

Associate Professor of Economics
Department of Economics
Andrew Young School of Policy Studies
Georgia State University

Email: frioja@gsu.edu
14 Marietta Street
Atlanta, GA 30303
Phone: (404) 413 - 0164
Fax: (404) 413 - 0145

Felix Rioja

Welcome to my website!


I specialize in macroeconomics and economic growth.

My topics of research have dealt with how financial markets and public infrastructure affect economic growth across the world. I teach macroeconomics at the doctoral, masters, and undergraduate levels. I also serve as the Director of the Masters in Economics programs.

Brief Bio

Felix Rioja specializes in international macroeconomics, economic growth, and financial economics. He has written articles on the effects of public infrastructure, education, and pensions on economic growth and welfare. He has also written on the effects of the financial system on growth, poverty reduction and inequality. His research has been published in leading journals such as Journal of Development Economics, Journal of Public Economics, and Journal of International Money and Finance.

Professor Rioja has also worked as a consultant for the World Bank and on policy advisory projects for Brazil, Cape Verde, Jamaica, and Russia. He served as the Director of the Ph.D. in economics program from 2003 to 2008. He has been interviewed and quoted by various news media including CNN.

Teaching Schedule

ECON 8110, Macroeconomic Analysis. This is a masters-level course on macroeconomics.

ECON 9020, Macroeconomic Analysis I. This is the first of a series of Ph.D.-level courses in macroeconomics.

If you are interested in our M.A. in economics programs, see here:


Working Papers


  • Optimal Public Debt Redux

    Santanu Chatterjee, John Gibson and Felix Rioja

    Journal of Economic Dynamics and Control, forthcoming





Felix Rioja, Fernando Rios-Avila and Neven Valev

Economics Letters, March 2017


  • Fiscal position and the financing of productive government expenditures: an application to Latin America

Tamoya Christie and Felix Rioja

Journal of Economic Policy Reform, 2017


Antonio Saravia, Carlos Gustavo Machicado and Felix Rioja

Review of Development Economics, 2014


Felix Rioja, Fernando Rios-Avila and Neven Valev

Journal of Financial Economic Policy, 2014

(selected Outstanding Paper of 2014 by the journal’s editorial board)


Felix Rioja, Fernando Rios-Avila and Neven Valev

Emerging Markets Finance and Trade, 2014


  • Government Expenditures, Financing, and Economic Growth in Cape Verde

Tamoya Christie and Felix Rioja

Journal of Economics and Development Studies, 2014



Reports & Other Media


Fun Links for Students

  • Data! - For an excellent collection of several data sets for macro/growth research.
  • Sports! - For many years our department has had sports teams composed of grad students and professors competing in GSU intramurals. Here is our flag football team, The Young School Raiders: