Humanities and Social Sciences

My research sits at the intersection of finance and macroeconomics in an open economy setting. At the heart of my work lies macro-finance, exploring its underlying political economy and the related public policy interventions.

I explore the evolution of stock markets in emerging economies, specifically emerging markets.  Through rigorous time series analysis, I aim to understand market efficiency, and deeply engage its rational and irrational components and unfold the adaptive behaviour of the markets. By uncovering the long memory, scaling, and entropic behaviour of markets, I seek to document the interconnections between efficiency, integration, liquidity, volatility, crises, and contagion—challenging the notion of market homogeneity. I also show the influence of foreign portfolio investors in emerging markets.

While equity is glamorous, I am particularly fascinated by debt, the bulwark of the modern corporate sector.  My comprehensive research into foreign currency corporate debt, framed within the theory of original sin, attempts to reveal the unique perspective and peculiar macroeconomic policy bottlenecks in developing economies. I develop a distinctive analytical framework that intersects finance, macroeconomics, and open economy theories, exploring the intricate relationships among trade finance, currency composition, exchange rates, and global shocks. Similarly, I investigate sovereign debt and the often-ignored debt structure, examining its political economy and its implications for corporate performance and debt design.

Departing from mainstream economics, I also explore the overlooked yet indispensable issues of supply-side inflation and the public provision of education and health. My research attempts to provide fresh insights into the provision of public goods, fiscal federalism, and resource allocation.