Sushanta Kumar Mallick

BA (Hons.) (Utkal), MA (Hyderabad), PhD (Warwick)

Professor of International Finance

Co-Editor-in-Chief, Economic Modelling


School of Business and Management

Queen Mary University of London

Telephone: +44 (0)20-7882 7447

Fax: + 44 (0)20-7882 3615

E-mail: s.k.mallick@qmul.ac.uk



I am a Professor at the School of Business and Management at Queen Mary, University of London. I joined Queen Mary in October 2006 as a Senior Lecturer and became a Reader in October 2008 and then got promoted as Professor in October 2011. Prior to being at Queen Mary, I spent nearly three years as a Lecturer at the Department of Economics, Loughborough University. Before that, I worked as a Research Fellow for more than two years in the International Economics Programme at the Royal Institute of International Affairs, London. I also have experience working as a Sovereign Research Analyst covering Asian emerging markets for nearly three years (1999-2001) at JPMorgan Chase (previously Chase Manhattan Bank), based in Hong Kong. I began my research career in the early nineties (1991-1995) at the Institute for Social and Economic Change (with a year at Indian Statistical Institute), Bangalore, India, followed by a Commonwealth Scholarship to study for a Ph.D. in economics (1995-1998) at the University of Warwick, under the supervision of Professor Kenneth F. Wallis. I have published articles in several international refereed journals as well as a book based on my Ph.D. dissertation, Modelling Macroeconomic Adjustment with Growth in Developing Economies (Routledge Publishing, 1999). My main research interests include issues in international macroeconomics & finance, and development policy. I am mainly an applied economist with a longstanding interest in issues that concern macroeconomic policy, international finance, and development. I am particularly interested in understanding more about how best to identify different economy-wide shocks at the macro-level and how best to undertake impact evaluation of different policies or events at the micro-level.


Forthcoming and Recent Papers

1.       Does derivative usage boost firm value in an economy with controls? Evidence from India (with Praveen Gupta and Deven Bathia), Review of Quantitative Finance & Accounting (forthcoming).


  1. Financial Access and Entrepreneurship by Gender: Evidence from Rural India (with Sandhya Garg and Samarth Gupta), Small Business Economics (forthcoming).


3.       Pay transparency intervention and the gender pay gap: Evidence from research-intensive Universities in the UK (with Danula K. Gamage, Georgios Kavetsos, Almudena Sevilla), (IZA Discussion Paper No. 13635, August 2020), British Journal of Industrial Relations, 62 (2): 293-318, June 2024.


4.       Financial uncertainty and interest rate movements: Is Asian bond market volatility different? (with Jungsuk Kim, Abhishek Kumar, and Donghyun Park), Annals of Operations Research, 334, 731-759, March 2024.


  1. Oil Price Dynamics in Times of Uncertainty: Revisiting the Role of Demand and Supply shocks (with Abhishek Kumar), Energy Economics, 129, 107152, January 2024.


  1. Does greater financial openness promote external competitiveness in emerging markets? The role of institutional quality (with Zunaira Aman, Brigitte Granville and Ilayda Nemlioglu), International Journal of Finance & Economics, 29 (1): 486-510, January 2024.


  1. Does local knowledge spillover matter for firm productivity? The role of financial access and corporate governance (with M. Mostak Ahamed and Kul B Luintel), Research Policy, 52 (8), 104837, October 2023.


  1. Productivity debacle in the UK: Do post-Crisis firm cohorts explain the performance puzzle? (with Mustapha Douch, and Huw Edwards), British Journal of Management, 34 (3): 1459-1487, July 2023.


  1. Gender and access to finance: Perceived Constraints of Majority Female-owned Indian Firms (with Nabamita Dutta), British Journal of Management, 34 (2): 973-996, April 2023.


  1. Market volatility, monetary policy and the term premium (with Abhishek Kumar, Madhu S Mohanty and Fabrizio Zampolli), Oxford Bulletin of Economics & Statistics, 85 (1): 208-237, February 2023.


  1. Bank Credit Risk and Macro-Prudential Policies: Role of counter-cyclical capital buffer (with Nadia Benbouzid, Abhishek Kumar, Ricardo Sousa, and Aleksandar Stojanovic), Journal of Financial Stability, 63, 101084, December 2022.


  1. Aid Effectiveness: Human Rights as a Conditionality Measure (with Mustapha Douch, Huw Edwards, and Todd Landman), World Development, 158, 105978, October 2022.


  1. Currency regimes and external competitiveness: The role of institutions, trade agreements and monetary frameworks (with Zunaira Aman and Ilayda Nemlioglu), Journal of Institutional Economics, 18 (3): 399-428, June 2022.


  1. Policy Errors and Business Cycle Fluctuations: Evidence from an Emerging Economy (with Abhishek Kumar and Apra Sinha), Journal of Economic Behavior and Organization, 192: 176-198, December 2021.


  1. Underwriter reputation and IPO underpricing: The role of institutional investors in the Chinese growth enterprise market (with Yi Hu, Tiantian Dai, Yong Li, Lutao Ning and Baohua Zhu), International Review of Financial Analysis, 78, 101956, November 2021.


  1. Effective innovation via better management of firms: The role of leverage in times of crisis (with Ilayda Nemlioglu), Research Policy, 50 (7), 104259, September 2021.


  1. Is Uncertainty the Same Everywhere? Advanced Versus Emerging Economies (with Abhishek Kumar and Apra Sinha), Economic Modelling, 101, 105524, August 2021.


  1. Dynamic Effects of Patent Policy on Innovation and Inequality in a Schumpeterian Economy (with Angus Chu, Yuichi Furukawa, Pietro Peretto and Xilin Wang), Economic Theory, 71 (4): 1429-1465, June 2021.


  1. Does Bankruptcy Law improve the Fate of Distressed Firms? The Role of Credit Channels (with Udichibarna Bose, and Stefano Filomeni), Journal of Corporate Finance, 68, 101836, June 2021.


  1. Inclusive Banking, Financial Regulation and Bank Performance: Cross-Country Evidence (with M. Mostak Ahamed, Shirley Ho and Roman Matousek), Journal of Banking & Finance, 124, 106055, March 2021.


  1. Are Global Spillovers Complementary or Competitive? Need for International Policy Coordination (with Keshab Bhattarai & Bo Yang), Journal of International Money and Finance, 110, 102291, February 2021.


  1. Does higher unemployment lead to greater criminality? Revisiting the debate over the business cycle (with Fredj Jawadi, Abdoulkarim Idi Cheffou, and Anish Augustine), Journal of Economic Behavior & Organization, 182: 448-471, February 2021.


  1. Do Corporate Taxes harm economic performance? Explaining distortions in R&D- and Export-Intensive UK Firms (with Ioannis Bournakis), Macroeconomic Dynamics, 25 (1): 5-7, January 2021 (published as lead article).

Journal Articles Published during 2016-2020 (in reverse chronological order)


1.       Does multilateral lending aid capital accumulation? Role of intellectual capital and institutional quality (with Ilayda Nemlioglu), Journal of International Money and Finance, 108, 102155, November 2020.


2.       Does Easing Access to Foreign Financing Matter for Firm Performance? (with Udichibarna Bose and Serafeim Tsoukas), Journal of Corporate Finance, 64, 101639, October 2020.


3.       Do innovation-intensive firms mitigate their valuation uncertainty during bad times? (with Ilayda Nemlioglu), Journal of Economic Behavior and Organization, 177, 913-940, September 2020.


4.       Technological change and catching-up in the Indian banking sector: A time-dependent nonparametric frontier approach (with Aarti Rughoo, Nickolaos Tzeremes and Wei Xu), Computational Economics, 56(1), 217-237, June 2020.


5.       A Bayesian Semiparametric Approach to Stochastic Frontiers and Productivity (with Mike Tsionas), European Journal of Operational Research, 274 (1): 391-402, April 2019.


6.       Is financial inclusion good for bank stability? International evidence (with M. Mostak Ahamed), Journal of Economic Behavior & Organization, 157: 403-427, January 2019.


7.       Enabling Women Entrepreneurs: Exploring the mitigating factors for the negative effect of fertility rates on female entrepreneurship (with Nabamita Dutta), Kyklos, 71 (3): 402-432, August 2018.


8.       The Housing Market and the Credit Default Swap premium in the UK Banking Sector: A VAR Approach (with Nadia Benbouzid & Keith Pilbeam), Research in International Business and Finance, 44: 1-15, April 2018 (published as lead article).


9.       TFP Estimation at Firm Level: The fiscal aspect of productivity convergence in the UK (with Ioannis Bournakis), Economic Modelling, 70: 579-590, April 2018.


10.   Knowledge Spillovers and Output per Worker: An Industry-level Analysis for OECD Countries (with Ioannis Bournakis and Dimitris Christopoulos), Economic Inquiry, 56 (2): 1028-1046, April 2018.


11.   Does social identity matter in individual alienation? Household-level evidence in post-reform India (with Prashant Gupta and Tapas Mishra), World Development, 104: 154-172, April 2018.


12.   The non-monotonic impact of bank size on their default swap spreads: cross-country evidence (with Nadia Benbouzid and Leone Leonida), International Review of Financial Analysis, 55: 226-240, January 2018.


13.   An International Forensic Perspective of the Determinants of Bank CDS spreads (with Nadia Benbouzid and Ricardo M. Sousa), Journal of Financial Stability, 33: 60-70, December 2017.


14.   Export prices, selection into exporting and market size: Evidence from China and India (with Helena Marques), International Business Review, 26 (6): 1034-1050, December 2017.


15.   Do Managerial Practices Matter in Innovation and Firm Performance Relation? New Evidence from the UK (with Ilayda Nemlioglu), European Financial Management, 23 (5): 1016-1061, November 2017.


16.   Does Institutional Linkage of Bank-MFI Foster Inclusive Financial Development Even in the Presence of MFI Frauds? (with Shirley Ho) Scottish Journal of Political Economy, 64 (3): 283-309, July 2017.


  1. The Right to be Free: Is media freedom good news for women’s rights? (with Arusha Cooray and Nabamita Dutta), Journal of Institutional Economics, 13 (2): 327-355, June 2017.


  1. Do country-level financial structures explain bank-level CDS spreads? (with Nadia Benbouzid and Ricardo M. Sousa), Journal of International Financial Markets, Institutions and Money, 48: 135-145, May 2017.


  1. Trade Openness and Labor Force Participation in Africa: The Role of Political Institutions (with Arusha Cooray and Nabamita Dutta), Industrial Relations: A Journal of Economy and Society, 56 (2): 319-350, April 2017.


  1. The skill premium effect of technological change: New evidence from United States manufacturing (with Ricardo M. Sousa), International Labour Review, 156 (1): 113-131, March 2017.


  1. Poverty Index with Time-Varying Consumption and Income Distributions (with Amit K Chattopadhyay and T Krishna Kumar), Physical Review E, 95 (3), 032109, March 2017.


  1. House of restructured assets: How do they affect bank risk in an emerging market? (with M. Mostak Ahamed), Journal of International Financial Markets, Institutions and Money, 47: 1-14, March 2017 (published as lead article).


  1. Does regulatory forbearance matter for bank stability? Evidence from creditors’ perspective (with M. Mostak Ahamed), Journal of Financial Stability, 28: 163-180, February 2017.


  1. Does female human capital formation matter for the income effect of remittances? Evidence from developing countries (with Arusha Cooray and Nabamita Dutta), Oxford Development Studies, 44 (4): 458-478, December 2016.


  1. Macroeconomic Effects of Inflationary Shocks with Durable and Non-Durable Consumption (with Mohammed Mohsin), Open Economies Review, 27(5): 895-921, November 2016.


  1. Fiscal and Monetary Policies in the BRICS: A Panel VAR Approach (with Fredj Jawadi and Ricardo M. Sousa), Economic Modelling, 58: 535-542, November 2016.


  1. Real Effects of Inflation on External Debt in Developing Economies (with Mark Assibey-Yeboah and Mohammed Mohsin), International Journal of Finance and Economics, 21 (4): 398-416, October 2016.


  1. Global food prices and monetary policy in an emerging market economy: The case of India (with Oliver Holtemoller), Asian Journal of Economics, 46: 56-70, October 2016.


  1. Does quality differentiation matter in exporters’ pricing behaviour? Comparing China and India (with Helena Marques), China Economic Review, 40: 71-90, September 2016.


  1. Pricing strategy of emerging market exporters in alternate currency regimes: The role of comparative advantage (with Helena Marques), International Review of Economics & Finance, 45: 68-81, September 2016.


  1. Financial development and productive inefficiency: A robust conditional directional distance function approach (with Roman Matousek and Nickolaos Tzeremes), Economics Letters, 145: 196-201, August 2016.

Papers published in Referred-Journals during 2011-2015

1.       A co-payment auditing scheme for financial misreporting (with Shirley Ho), International Journal of Accounting, 50 (1): 53-74, March 2015.


2.       Fiscal Policy and Crowding-Out in Developing Asia (with Seok-Kyun Hur and Donghyun Park), Environment and Planning C: Government & Policy, 32(6): 1117-1132, December 2014.


3.       Disentangling the poverty effects of sectoral output, prices and policies in India, Review of Income and Wealth, 60 (4): 773-801, December 2014.


4.       Effectiveness of Countercyclical Fiscal Policy: Evidence from Developing Asia (with Shikha Jha, Donghyun Park, and Pilipinas Quising), Journal of Macroeconomics, 40: 82-98, June 2014.


5.       Fiscal Policy in the BRICs (with Fredj Jawadi and Ricardo M. Sousa), Studies in Nonlinear Dynamics & Econometrics (SNDE), 18 (2): 201-215, April 2014.


6.       Nonlinear Monetary Policy Reaction Functions in Large Emerging Economies: The Case of Brazil and China (with Fredj Jawadi and Ricardo M. Sousa), Applied Economics, 46 (9): 973-984, March 2014.


7.       Gender-specific Human Capital, Openness and Growth: Exploring the Linkages for South Asia (with Arusha Cooray and Nabamita Dutta), Review of Development Economics, 18 (1): 107-122, February 2014.


8.       Explaining cross-country differences in exporting performance: The role of country-level macroeconomic environment (with Yong Yang), International Business Review, 23 (1): 246-259, February 2014.


9.       The real effects of financial stress in the Eurozone (with Ricardo M. Sousa), International Review of Financial Analysis, 30: 1-17, December 2013 (published as lead article).


10.   Productivity performance of export market entry and exit: Evidence from Indian firms (with Yong Yang), Review of International Economics, 21 (4): 809-824, September 2013.


11.   Commodity prices, inflationary pressures, and monetary policy: Evidence from BRICS economies (with Ricardo M. Sousa), Open Economies Review, 24 (4): 677-694, September 2013.


12.   Impact of China’s currency valuation and labour cost on the US in a trade and exchange rate model (with Keshab Bhattarai), North-American Journal of Economics and Finance, 25: 40-59, August 2013.


13.   Exchange rate regime, real misalignment and currency crises (with Oliver Holtemoller), Economic Modelling, 34: 5-14, August 2013 (published as lead article).


14.   Determinants of Bank Credit Default Swap Spreads: The role of the housing sector (with Nadia Benbouzid), North-American Journal of Economics and Finance, 24 (1): 243-259, January 2013.


15.   Identifying sources of macroeconomic and exchange rate fluctuations in the UK (with James P. Cover), Journal of International Money and Finance, 31 (6): 1627-1648, October 2012.


16.   Financial reforms and income inequality (with Luca Agnello and Ricardo M. Sousa), Economics Letters, 116 (3): 583-587, September 2012.


17.   Real Effects of Monetary Policy in Large Emerging Economies (with Ricardo M. Sousa), Macroeconomic Dynamics, 16 (S2): 190-212, September 2012.


18.   Pricing to market with trade liberalization: The role of market heterogeneity and product differentiation in India’s exports (with Helena Marques), Journal of International Money and Finance, 31 (2): 310-336, March 2012 [This paper was included in Media Briefings following presentation at the Royal Economic Society Annual Conference during 18-20 April 2011].


19.   Sources of Financing, Profitability and Productivity: First Evidence from Matched Firms (with Yong Yang), Financial Markets, Institutions and Instruments, 20 (5): 221-252, December 2011.


20.   Chinese Exchange Rate and Price Effects on G3 Import Prices (with Brigitte Granville and Ning Zeng), Journal of Asian Economics, 22 (6): 427-440, December 2011 (published as lead article).


Referred-Journal publications during 2006-2010


1.       On the Real Effects of Inflation in Open Economies: Theory and Empirics (with Mohammed Mohsin), Empirical Economics, 39 (3): 643-673, December 2010.


2.       Export-Premium, Self-selection and Learning-by-Exporting: Evidence from Chinese Matched Firms (with Yong Yang), The World Economy, 33 (10): 1218-1240, October 2010.


3.       Income and poverty in a developing economy (with A.K. Chattopadhyay and G. J. Ackland), Europhysics Letters (EPL), 91 (5), 58003, September 2010.


4.       The Impact of Information Technology on the Banking Industry (with Shirley Ho), Journal of the Operational Research Society, 61 (2): 211-221, February 2010.


5.       Monetary Policy in Russia: Identifying exchange rate shocks (with Brigitte Granville), Economic Modelling, 27 (1): 432-444, January 2010.


6.       Data frequency and exchange rate pass-through: Evidence from India's exports (with Helena Marques), International Review of Economics and Finance, 19 (1): 13-22, January 2010.


7.       Monetary and Financial Stability in the Euro Area: Pro-cyclicality versus Trade-off (with Brigitte Granville), Journal of International Financial Markets, Institutions & Money, 19 (4): 662-674, October 2009.


8.       Estimating consumption deprivation in India using survey data: A state-level rural-urban analysis before and during reform period (with T. Krishna Kumar and Jayarama Holla), Journal of Development Studies, 45 (4): 441-470, April 2009 (published as lead article).


9.       The Effect of Monetary Policy on Output in EMU3: A Sign Restriction Approach (with M.S. Rafiq), Journal of Macroeconomics, 30 (4): 1756-1791, December 2008.


10.   On Network Competition and Solow Paradox: Evidence from U.S. Banks (with Shirley Ho), The Manchester School, 76 (s1): 37-57, September 2008.


11.   Pass-through of exchange rate and tariffs into import prices of India: Currency depreciation versus import liberalization (with Helena Marques), Review of International Economics, 16 (4): 765-782, September 2008.


12.   Income distribution and consumption deprivation: An analytical link, Journal of Income Distribution, 17 (2): 25-36, June 2008.


13.   When does growth trickle down to the poor? The Indian case (with Santonu Basu), Cambridge Journal of Economics, 32 (3): 461-477, May 2008.


14.   Exchange rate transmission into industry level export prices: A tale of two policy regimes in India (with Helena Marques), IMF Staff Papers (now IMF Economic Review), 55 (1): 83-108, April 2008.


15.   Foreign capital in a growth model (with Tomoe Moore), Review of Development Economics, 12 (1): 143-159, February 2008.


16.   Monetary Policy in High Inflation Open Economies: Evidence from Israel and Turkey (with Mohammed Mohsin), International Journal of Finance and Economics, 12 (4): 405-415, October 2007.


17.   On the Effects of Inflation Shocks in a Small Open Economy (with Mohammed Mohsin), Australian Economic Review, 40 (3): 253-266, September 2007.


18.   Income distribution dependence of poverty measure: A theoretical analysis (with Amit Chattopadhyay), Physica A: Statistical Mechanics and its Applications, 377 (1): 241-252, April 2007.


19.   Policy Instruments to Avoid Output Collapse: An Optimal Control Model for India, Applied Financial Economics, 16 (10): 761-776, June 2006.


20.   Does inflation or currency depreciation drive monetary policy in Russia? (with Brigitte Granville) Research in International Business and Finance, 20 (2): 163-179, June 2006.


21.   Sectoral exchange rate pass-through: Testing the impact of policy reforms in India (with Helena Marques), Scottish Journal of Political Economy, 53 (2): 280-303, May 2006.

Referred-Journal Publications during 2001-2005


1.       Impact of World Bank lending in an adjustment-led growth model (with Tomoe Moore), Economic Systems, 29 (4): 366-383, December 2005 (published as lead article).


2.       Tight credit policy versus currency depreciation: Simulations from a trade and inflation model of India, Journal of Policy Modeling, 27 (5), 611-627, July 2005.


3.       Financial Globalisation: The Need for a Single Currency and a Global Central Bank (with Philip Arestis and Santonu Basu), Journal of Post Keynesian Economics, 27 (3), 507-531, Spring 2005.


4.       How best to link poverty reduction and debt sustainability in IMF-World Bank Models? (with Brigitte Granville), International Review of Applied Economics, 19 (1): 67-85, January 2005.


5.     Pension Reforms and Saving Gains in the UK (with Brigitte Granville), The Journal of Policy Reform, 7 (2): 123-136, June 2004.


6.     Fisher Hypothesis: UK evidence over a century (with Brigitte Granville), Applied Economics Letters, 11 (2), February 2004, 87-90.


7.     A Dynamic Macroeconometric Model for Short-Run Stabilization in India, Applied Economics, 36 (3), February 2004, 261-276.


8.     Determinants of Long-term Growth in India: A Keynesian Approach, Progress in Development Studies, 2 (4), October 2002, 306-324.


9.     A Linear Liquidity Preference Function admitting a Liquidity Trap with Application to India (with T.K. Kumar), The Asia Pacific Journal of Economics and Business, 5(2), December 2001, 67-81.


10.  Dynamics of Macroeconomic Adjustment with Growth: Some Simulation Results, International Economic Journal, 15(1), Spring 2001, 115-139.


Chapters in Books

1.       Inclusive Poverty Index Without a Poverty Line in the Tradition of Engel (with T. Krishna Kumar, and Amit Kumar Chattopadhyay), Chapter 12, in R. M. Saleth, S. Galab, and E. Revathi (eds.), Issues and Challenges of Inclusive Development: Essays in Honor of Prof. R. Radhakrishna, Springer Nature, 2020; https://doi.org/10.1007/978-981-15-2229-1_12


2.       Does social cohesion limit uncertainties in economic growth: A pre- and post-reform analysis from India (with Tapas Mishra, Mamata Parhi and Prashant Gupta), in Pradeep Agrawal (ed.), Sustaining Rapid Growth in India, Chapter 14, Cambridge University Press, 2018, 417-464.


3.       Regional dynamics of rural credit and growth in India: Exploring nonlinearity and convergence in growth patterns (with Banikanta Mishra and Tapas Mishra), in Pradeep Agrawal (ed.), Sustaining Rapid Growth in India, Chapter 16, Cambridge University Press, 2018, 489-523.


4.       Macroeconomic effects of monetary policy in India, Chapter 6 in Pradeep Agrawal (ed.), Reviving growth in India, Cambridge University Press, 2015, pp.141-169.


5.       Financial intermediation and economic development: Evidence from Bihar (with Sanjay Banerji, Krishna Gangopadhyay, and Prashant Gupta), in Ashima Goyal (ed.), Handbook of the Indian Economy in the 21st Century: Understanding the Inherent Dynamism, Oxford University Press, May 2014, pp.898-929.


6.       Financing patterns, Multinationals and Performance: Firm-level evidence from 47 countries (with Yong Yang), in Yama Temouri and Chris Jones (eds.), International Business and Institutions after the Financial Crisis, Palgrave Macmillan, February 2014, pp.194-211.


7.       Assessing Exchange Rate Pass-Through in India during Recent Globalization (with Helena Marques), in Helena Marques, Elias Soukiazis, and Pedro Cerqueira (eds.), Integration and Globalization: Challenges for Developed and Developing Countries, Edward Elgar, 2009, pp.143-161.


8.       A macroeconomic policy approach to poverty reduction, in Subrata Ghatak and Paul Levine (ed.), Development Macroeconomics: Essays in Memory of Anita Ghatak, Routledge, 2009, pp.95-119.


9.       Does Technological Change Induce Unemployment? (with Santonu Basu), in Arestis, P., and J.S.L. McCombie (ed.), Missing Links in the Unemployment Relationship, Palgrave Macmillan, 2009, pp.158-181.


10.  Is Growth Alone Sufficient to Reduce Poverty? In Search of the Trickle Down Effect in Rural India (with Santonu Basu), in Arestis, P., M. Baddeley and J.S.L. McCombie (ed.), Economic Growth: New Directions in Theory and Policy, Edward Elgar, 2007, pp.259-278.


11.  Monetary Policy in Russia (with Brigitte Granville), in Lucio Vinhas de Souza and Oleh Havrylyshyn (eds.), Return to Growth in CIS Countries and the Macroeconomic Framework, Springer, 2006, pp.73-89.


12.  Integrating Poverty Reduction in IMF-World Bank Models (with Brigitte Granville), in Alberto Paloni and Maurizio Zanardi (eds.), The IMF, World Bank and Policy Reform, Routledge: London, 2006, pp.191-208.


13.  Designing Adjustment Policies with Growth for India: An Optimal Control Framework, in V. Pandit and K. Krishnamurty (eds.), 2004, Economic Policy Modelling for India, Oxford University Press, New Delhi, pp.110-133.


14.  Does capital market reform boost savings? Evidence from the UK Pension Reforms (with Brigitte Granville), in Seiichi Masuyama and Donna Vandenbrink (eds.), 2004, The Development of Capital Markets and their Governance, Tokyo Club Papers No. 16, Tokyo Club Foundation for Global Studies: Tokyo, pp.7-36.

Working Papers

1.       Financial Access and Entrepreneurship by Gender: Evidence from Rural India (with Sandhya Garg and Samarth Gupta), STEG Working Paper Series, WP062, April 2023, CEPR: London.

2.       Effects of productivity growth on domestic savings across countries: Disentangling the roles of trend and cycle (with Abhishek Kumar and Kunal Sen), WIDER Working Paper 155/2020, Helsinki: UNU-WIDER.

3.       Pay Transparency Initiative and Gender Pay Gap: Evidence from Research-Intensive Universities in the UK (with Danula K. Gamage, Georgios Kavetsos, Almudena Sevilla), IZA Discussion Paper No. 13635, August 2020.

4.       Dynamic Effects of Patent Policy on Innovation and Inequality in a Schumpeterian Economy (with Angus Chu, Yuichi Furukawa, Pietro Peretto and Xilin Wang), University of Liverpool Working Paper in Economics # 201911, October 2019.

5.       Market volatility, monetary policy and the term premium (with Abhishek Kumar, M S Mohanty and Fabrizio Zampolli), BIS Working Papers No 606, January 2017, BIS.

6.       Knowledge Spillovers, absorptive capacity and growth: An Industry-level Analysis for OECD Countries (with Ioannis Bournakis & Dimitris Christopoulos), CGR Working Paper No. 57, 2015.

7.       Measuring Firm-Level Productivity Convergence in the UK: The Role of Taxation and R&D Investment (with Ioannis Bournakis, David Kernohan, and Dimitris A.Tsouknidis), CGR Working Paper No. 45, 2013.

8.       Disentangling the poverty effects of sectoral output, prices and policies in India, UN-ESCAP Development Papers 1202, May 2012, New Delhi.

9.       What explains cross-country growth in South Asia? Female education and the growth effect of international openness (with Arusha Cooray), BWPI Working Paper No. 145, 2011.

10.   Fiscal Policy and Crowding Out in Developing Asia (with S. Hur and D. Park), ADB Economics Working Paper No. 222, September 2010.

11.   Effectiveness of Countercyclical Fiscal Policy: Time-Series Evidence from Developing Asia (with S. Jha, D. Park, and P. Quising), ADB Economics Working Paper No. 211, August 2010.

12.  Exchange Rate Pass-through in India’s Exports to Developed and Emerging Markets (with Helena Marques), RIS Discussion Paper No.144, September 2008.

13.   A macroeconomic policy approach to poverty reduction, BWPI Working Paper No.31, March 2008.

14.  Estimating Consumption Deprivation in India using Survey Data: A State-Level Rural-Urban Analysis before and during Reform Period (with T. Krishna Kumar and Jayarama Holla), Centre for Globalisation Research, Working Paper No.7 (October 2007).

15.   Foreign Capital in a Growth Model (with Tomoe Moore), Centre for Globalisation Research, Working Paper No.5 (September 2007).

16.   Pass-through of Exchange Rate and Tariffs into Import Prices of India: Currency Depreciation versus Import Liberalisation (with Helena Marques), Centre for Globalisation Research, Working Paper No.3 (September 2007).

17.   The Impact of Information Technology on the Banking Industry: Theory and Empirics (with Shirley Ho), presented at the Workshop on Knowledge Flows, Queen Mary, University of London, 23 March 2007.

18.   Income distribution dependence of poverty measure: A theoretical analysis (with Amit Chattopadhyay), 2005.

Newspaper and other media articles

  1. Effectiveness of Recent Bankruptcy Reforms in India
  2. What Does India Want from Russia?
  3. IBC and the ‘de-stressing’ of India Inc
  4. Does easing controls on foreign borrowing boost firm performance?
  5. Financial inclusion is good for banks too
  6. Ideas for India articles
  7. Effects of regulatory intervention in banking
  8. BIS Study Casts Doubt on ‘Ultimate Effectiveness’ of QE
  9. Exchange rate pass-through by Indian and Chinese exporters
  10. Shake-up of pension market will make for better public finances
  11. India’s reform agenda far from complete
  12. Is India Ready for Full Currency Convertibility?
  13. The Economic Impact of the Iraq war on Japan, China and India

Book Reviews

Fifteen books reviewed in the areas of econometrics, monetary, financial and development economics, which are published in the following journals: Economic Journal (2003), International Review of Applied Economics (2003), Canadian Journal of Development Studies (2003), Journal of Development Studies (2003), International Affairs (2002, 2003, 2004), Progress in Development Studies (2001), Kyklos (1994), Deccan Herald (1993), Southern Economist (1993), Indian Economic Review (1993), Indian Journal of Applied Economics (1992), Journal of Quantitative Economics (1992), International Journal of Development Banking (1992).

Journal Publications in the 1990s


1.       Designing Adjustment Policies with Growth for India: An Optimal Control Framework, Journal of Quantitative Economics (special issue: policy modelling for India), 15(2): 161-176, July 1999.


2.       Causality between Exports and Economic Growth in India: Evidence from Cointegration based Error Correction Models, Indian Journal of Economics, 76(302): 307-320, January 1996.


3.       International Trade and Economic Growth: An Examination of Interdependence using VARs with reference to India, Journal of Foreign Exchange and International Finance, 8(4): 437-446, January-March 1995.


4.       Neoclassical Models of Economic Growth: Old and New, Indian Economic Journal, 42(4): 76-88, April-June 1995.


5.       A Non-econometric Review of Indian Macroeconomic Models (with T.K. Kumar), Arthavijnana, 37(1): 1-45, March 1995.


6.       Macroeconomic Adjustment in India: Policy and Performance in the Recent Years (with T.K. Kumar), Journal of Indian School of Political Economy, 7(1): 44-68, January-March 1995.


7.       Exports and Economic Growth, Journal of Indian School of Political Economy, 6(3): 505-515, July-September 1994.


8.       Capital Formation in Indian Agriculture: Recent Trends, Indian Journal of Agricultural Economics, 48 (4): 667-677, October-December 1993.


9.       The Small Scale Industries in Orissa: A Profile, Small Enterprises Development, Management and Extension (SEDME) Journal, 20(3): 1-12, September 1993.


10.   Exports Growth and Industrial Development: Empirical Evidence from India, Indian Journal of Quantitative Economics, 8 (1 & 2): 99-105, 1992.


Academic Refereeing

Guest Editor: Journal of Economic Behavior & Organization (2023); Review of Development Economics (2013); International Journal of Public Policy (2012); International Journal of Business and Emerging Markets (2012); International Journal of Monetary Economics and Finance (2011).


Guest Co-editor: The World Economy (2019); Journal of Economic Behavior & Organization (2018); Review of International Economics (2012); Macroeconomics and Finance in Emerging Market Economies (2012); International Journal of Economic Policy in Emerging Economies (2011, 2010); International Journal of Trade and Global Markets (2010); The Journal of Financial Decision Making (2009)

Member: AIEFS - Association of Indian Economic and Financial Studies [Executive Committee (2009- )]; European Economics and Finance Society (EEFS) [Advisory Board (2007- )]

Conference Organizer: Organized Economic Modelling 2021 Virtual Conference on 28-29 Jun 2021; Co-organized GPEN-CGR Annual Conference on Global Policy, Global Institutions and Global Development, Queen Mary University of London, 24-25 June 2013; Co-organized a Workshop on ‘International Political Economy and Cross-Border Effects’ at Queen Mary, University of London, UK; Co-organized an International conference on Quantitative Approaches to Public Policy (QAPP) in honour of Professor T Krishna Kumar, at Indian Institute of Management Bangalore, 10-12 August 2009.

Conference Papers Reviewer: Reviewed papers for AIB, IFABS, INFER and INFINITI Conferences.

Grant Proposals and Reports Assessor: ESRC; British Academy; Foundation for Science and Technology (FCT), Portugal; Netherlands Organisation for Scientific Research; Estonian Research Council (ETAg); Independent Social Research Foundation.

Ph.D. Thesis Examinations:

UK: Swansea University (2023, 2013); Queen Mary University of London (2023, 2022, 2021, 2020, 2018, 2017, 2015, 2011, 2009, 2007); University of Hull (2022, 2014, 2008);  Loughborough University (2020; 2019; 2018; 2012); University of Kent (2019); University of Birmingham (2019); University of Nottingham (2019; 2016); City University of London (2018); Cardiff Metropolitan University (2018); University of Leeds (2018); University of Sussex (2017); Kingston University (2017, 2015, 2010); Coventry University (2017, 2009); Nottingham Trent University (2017, DBA); University of Surrey (2016); University of Leicester (2016, 2014: PhD; 2011: MPhil); London Metropolitan University (2016, 2012); University of Glasgow (2016); University of Sheffield (2015); Middlesex University (2014); King’s College London (2013); University of East Anglia (2012); University of Warwick (2010); Lancaster University (2010).

Overseas: NITIE Mumbai, India (2022); IIT Kanpur, India (2022); IGIDR, India (2020; 2016); KIIT University, India (2019, 2016); Indian Statistical Institute (2017); Australian National University (2017; 2014); National Institute of Technology Rourkela, India (2017); Trinity College Dublin (2017); University of Wollongong Australia (2016); IIT Roorkee, India (2016); MDI Delhi, India (2016); Pondicherry University, India (2016, 2015, 2014, 2013, 2012, 2011); University of Newcastle Australia (2015 PhD, 2014 MPhil; 2008 DBA); University of Madras, India (2014); IIT Madras, India (2013); IIT Bombay (2010).

Ad-hoc Refereeing of Journal Articles: Applied Economics; Applied Economics Quarterly; Applied Financial Economics; Australian Economic Papers; British Journal of Management; Borsa Istanbul Review; Bulletin of Economic Research; Cambridge Journal of Regions, Economy and Society; Canadian Journal of Development Studies; China Economic Review; Comparative Economic Studies; Contemporary Economic Policy; Economic Analysis and Policy; Economic Modelling; Economic Systems; Economics Bulletin; Economics Letters; The Economics of Transition; e-journal Economics; Ekonomia; Emerging Markets Finance and Trade; Emerging Markets Review; Empirica-Journal of European Economics; Empirical Economics; Energy Economics; Energy Journal; Energy Policy; Environment and Planning C:  Government & Policy; European Journal of Development Research; European Journal of Finance; European Journal of Health Economics; European Journal of Operational Research; Feminist Economics; International Affairs; International Business Review; International Economics; International Finance; International Journal of Economic Theory; International Journal of Finance and Economics, International Journal of Social Economics, International Review of Applied Economics; International Review of Economics and Finance; International Review of Financial Analysis; International Tax and Public Finance; International Trade Journal; Journal of African Economies; Journal of Applied Statistics; Journal of Asian Economics; Journal of the Asia Pacific Economy; Journal of Banking and Finance; Journal of Business Research; Journal of Comparative Economics; Journal of Corporate Finance; Journal of Economic Asymmetries; Journal of Economic Behavior & Organization; Journal of Economic Dynamics and Control; Journal of Economic Growth; Journal of Economic Surveys; Journal of Financial Stability; Journal of Income Distribution; Journal of Institutional Economics; Journal of International Development; Journal of International Financial Markets, Institutions and Money; Journal of International Money and Finance; Journal of International Trade & Economic Development; Journal of Macroeconomics; Journal of Money, Credit and Banking; Journal of Post Keynesian Economics; Journal of Quantitative Economics; Journal of South Asian Development; Macroeconomic Dynamics; Macroeconomics and Finance in Emerging Market Economies; Management International Review; Managerial and Decision Economics; North American Journal of Economics and Finance; Open Economies Review; Oxford Development Studies; Oxford Bulletin of Economics and Statistics; Physica A; Quarterly Review of Economics and Finance; Research Policy; Review of Development Economics; Review of International Economics; Review of Middle East Economics and Finance; Scottish Journal of Political Economy; Singapore Economic Review; Small Business Economics; South Asia Economic Journal; Transnational Corporations (UN); The World Economy and World Development.
Book Proposals Reviewer: Ashgate, McGraw-Hill, Oxford, Palgrave-Macmillan and Routledge Publishing.

Here is a list of some interesting links

Centre for Globalisation Research, Queen Mary, University of London

My photo in a conference in New York

FairModel A macroeconometric model of the US economy

Resources for Economists

Economists on the Web   Some Economists’ home pages

Economists Jokes

Some other links:

Ministry of Finance Government of India

Reserve Bank of India India's Central Bank

Email: s.k.mallick@qmul.ac.uk