Natalia Ermasova is an Associate Professor at Governors State University, IL. She has a PhD of Public Affairs (Indiana University, USA), PhD of Economics (Russia). Her primary research interests are public finance, risk-management, innovation management, and the state capital budgeting. Before starting her work in the USA, she worked as a Professor of Finance in the Volga Region Academy for Civil Services in Russia for 12 years and as Professor of Saratov State University for 2 years. She was Visiting Professor in Germany (Ludwigsburg Academy for Civil Services) and Fulbright Visiting Professor (SPEA, Indiana University). More than 45 books and articles were published in Russia and more than 30 articles published in the USA. Her articles were published in State and Local Government Review, International Journal of Public Administration, SAM Advanced Management Journal, Journal of Management Development.