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  • Ph.D. (Economics), IGIDR 
  • M.S. (Quantitative Economics), ISI 

Other Professional Appointments

Member of the Expert Committee for Technology and Innovation for Monitoring and Evaluation (TIME) Lab, DMEO, NITI Aayog

Fellow of the Higher Education Academy, UK

External Associate, Centre for Crime, Justice and Policing, University of Birmingham

Corporate / Public Sector Leadership

Research Officer, Reserve Bank of India (2002-2004)

Dean (Research, Innovation & Internationalization), IIM Kozhikode, 2018-20

Chairperson (Economics Area), IIM Kozhikode, 2016-18

Chairperson (Research Office), IIM Kozhikode, 2013-17

Managing Editor (IIM Kozhikode Society & Management Review), 2015-17

Academic Positions

Professor, IIM Kozhikode (since 2016) and previously Associate Professor (2012-2016)

Senior Lecturer, University of Hertfordshire (2008-2012)

Assistant Professor, Indian Institute of Management Lucknow (2004-2006)

Maxwell Fry Research Fellow, University of Birmingham (2006-2008)

Significant Publications

What Explains Excess Liquidity of Banks? Empirical Evidence from India (co-author: Md Gyasuddin Ansari), Journal of Emerging Market Finance, forthcoming

'Is Rural Household Debt Sustainable in a Financially Included Region? Evidence from Three Districts of Kerala, India' (co-authors: Remya Tressa Jacob and Gopakumaran Nair), Oxford Development Studies, forthcoming

'US monetary policy, oil and gold prices: Which has a greater impact on BRICS stock markets?' (co-author: Md Gyasuddin Ansari), Economic Analysis and Policy, 64, 130-151, 2019.

'Risk preferences estimation of exporting firms under exchange rate uncertainty' (co-authors: U Broll and S Mukherjee), Scottish Journal of Political Economy, 67(1), 126-136, 2020.

'The relationship between risk, capital and efficiency in Indian banking: Does ownership matter?' (co-authors: Sanjukta Sarkar and Dipasha Sharma), Journal of Financial Economic Policy, 11(2), 218-231, 2019.

'Efficiency of Micro Finance Institutions in India: A Stochastic Distance Function Approach' (co-author: Nitin Kumar), Journal of Emerging Market Finance, 16(2), 151-168, 2017.

'The Relationship between Competition and Risk Taking Behavior of Indian Banks' (co-author: Sanjukta Sarkar), Journal of Financial Economic and Policy, 8(1), 95-119, 2016.

'Forecasting the price of gold: An error correction approach' (co-authors: Abhishek Jangir and Kausik Gangopadhyay), IIMB Management Review, 28(1), 6-12, 2016.

'Measuring monetary policy and its impact on the bond market of an emerging economy' (co-author: Indranil Bhattacharyya), Macroeconomics and Finance in Emerging Market Economies, 9(2), 109-130, 2016.

'Corporate governance determinants of FII in Indian IT firms' (co-authors: Vidya Panicker and Sumit Mitra), Indian Journal of Corporate Governance, 9(1), 1-18, 2016.

'Employment Programs for the Poor and Female Empowerment: The Effect of NREGS on Gender-based Violence in India' (co-authors: Sofia Amaral and Siddhartha Bandyopadhyay), Journal of Interdisciplinary Economics, 27(2) 199-218, 2015.

An analysis of the factors determining crime in England and Wales: A quantile regression approach' (co-authors: Siddhartha Bandyopadhyay and Samrat Bhattacharya), Economics Bulletin, 35(1) 665-679, 2015.

Crime across conflict and non-conflict states in India' (co-authors: Sofia Amaral, Siddhartha Bandyopadhyay and Samrat Bhattacharya), Economics of Peace and Security Journal, 9(1) 46-56, 2014.

Non-linearities in emerging financial markets: Evidence from India' (co-author: Ayan Bhattacharya), IIMK Society & Management Review, 2(2): 165-175, 2013.

State ownership, credit risk and bank competition: a mixed oligopoly approach' (co-author: Bibhas Saha), Macroeconomics and Finance in Emerging Market Economies, 6(1), pp 1-13, 2013

Mixed Ownership, Managerial Incentives And Bank Competition' (co-author: Bibhas Saha), Bulletin of Economic Research, 63(4), pp 385-403, 2011

Academic specialization and returns to education: Evidence from India' (co-author: Bibhas Saha), Journal of Education and Work, 24(5), pp 501-520, 2011

Asymmetric effects of interest rate changes: the role of the consumption-wealth channel' (co-authors: Andy Mullineux and Garry MacDonald), Applied Economics, 43(16), pp 1991-2001, 2011

Corporate Finance and Macroeconomic Volatility in the European Union' (co-authors: Andy Mullineux and Victor Murinde), International Economics and Economic Policy, 8 (1), pp 79-92, 2011

Evolving Corporate Financing Patterns in Europe: Is there Convergence?' (co-authors: Andy Mullineux and Victor Murinde), in Welfens, P (Ed.) EU Financial Market Integration, Stability and Growth, Springer: Heidelberg and New York, pp 159-175, 2011

Partial Privatization and Bank Performance: Evidence from India' (co-author: Subrata Sarkar), Journal of Financial Economic Policy, 2(4), pp 276-306, 2010

Convergence of Corporate Financing Patterns in Europe' (co-authors: Andy Mullineux and Victor Murinde), Economic Issues,15(2), pp 49-68, 2010

Efficiency, scale economies and valuation effects: Evidence from bank mergers in India' (co-author: M Jayadev), International Journal of Financial Services Management, 4(4), pp 311-337, 2010

Are Bank Stocks Sensitive to Risk Management?' (co-author: M Jayadev), Journal of Risk Finance, 10(1), pp 7-22, 2009

Stock Market Volatility and Market Risk in Emerging Markets: Evidence from India' (co-authors: Sumon Bhaumik and Suchismita Bose), in Gregoriou, G.N (Ed.) Stock Market Volatility, Chapman Hall-CRC/Taylor and Francis: London, pp 571-586, 2009

Deregulation, Ownership and Profit Performance of Banks: Evidence from India', Applied Financial Economics, 18(19), pp 1581-1595, 2008

The Distributive Role of Managerial Incentives in a Mixed Duopoly' (co-author: Bibhas Saha), Economics Bulletin, 12(28), pp 1-10, 2008

How Effective are Monetary Policy Signals in India?' (co-author: Indranil Bhattacharya), Journal of Policy Modeling, 30(1), pp 169-183, 2008

Non-Performing Assets in Indian Banking: Magnitude, Determinants and Impact of Recent Policy Initiative' (co-author: Kausik Chaudhuri), in Radhakrishna, R (Ed.) India Development Report, Oxford University Press: New Delhi, pp 134-144, 2008

Determinants of Merger Activity: Evidence from India' (co-author: Madhuri Agrawal), International Journal of Financial Services Management, 2(4), pp 277-288, 2007

Mergers in Indian Banking: An Analysis', (co-author: M Jayadev), South Asian Journal of Management, 14(4), October-December, pp-20-49, 2007

Interest Rate Signals, Stock Returns and FII Inflows: Exploring the Inter-linkages' (co-author: D Tripati Rao), Metamorphosis, 6(1), pp 54-68, 2007

School Dropout and Informal Apprenticeship' (co-author: Padmini Dasgupta and Bibhas Saha), India Macroeconomics Annual, pp 88-125, 2006

Money-Price Variability and Asset Prices Volatility: Evidence from India' (co-author: Deba Prasad Rath), Journal of Quantitative Economics, New Series 4(2), pp 59-74, 2006

Are Foreign Banks Always the Best? Comparison of State-Owned, Private and Foreign Banks in India', Economic Modeling, 23(4), pp 717-735, 2006

Signaling Instruments of Monetary Policy: The Indian Experience' (co-author: Indranil Bhattacharya), Journal of Quantitative Economics, New Series 3(3) pp 180-196, 2005

Cost and Profit Efficiency of Indian Banks During 1986-2003: A Stochastic Frontier Analysis', Economic and Political Weekly, pp 1198-1209, March 19-25, 2005

Economic Reforms and Indian Industry' (co-author: K G Sahadevan) in Srinivasan, R (Ed.) The New Indian Industry: Structure and key players, New Delhi: Macmillan, pp 1-10, 2005

Net Interest Margin: Does Ownership Matter?' (co-author: Saurabh Ghosh), Vikalpa - The Journal of Decision Makers, 29(1), January-March, 2004

Divestment and Bank Competition' (co-author: Bibhas Saha), Journal of Economics (Zeitschrift für Nationalokonomie), 81(3), pp 223-247, 2004

Impact of Terrorist Attacks in U.S.: Examination of Some Macroeconomic Variables' (co-author: Kausik Chaudhuri), Economic and Political Weekly, November 24, 2001, pp 4346-4350

What Explains Excess Liquidity of Banks? Empirical Evidence from India , Working Paper, 2022

Does knowledge empower? A story of debt literacy and credit usage in rural consumer finance , Working Paper, 2022

Does Economic Freedom Influence the FDI - Growth Nexus in BRICSASEAN Economies? , Working Paper, 2022

An Analysis of the Factors Determining Crime in England and Wales: A Quantile Regression Approach , Working Paper, 2015

Determinants Of Crime Across Conflict And Non-Conflict States In India , Working Paper, 2014

Non-linearites in emerging financial markets: Evidence from India , Working Paper, 2013

Public work programmes and gender-based violence: the case of NREGA in India , Working Paper, 2015

Does salary dispersion affect team performance in cricket? Evidence from the Indian Premier League , Working Paper, 2021

Research Areas




Applied Econometrics

Recent Consulting / Other Assignments


Ministry of Commerce & Industry, Government of India

Macro-forecasting for a global professional services firm

NITI Aayog

Indian Institute of Management Kozhikode

IIMK Campus P. O, Kozhikode, Kerala, India,
PIN - 673 570


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