Department of Economics Working Papers

The most recent Department Working Papers are listed below, the full versions are downloadable where available. Otherwise, please contact the Department on the following email to request a working paper. staff.economics@soas.ac.uk

2019

• No. 224 - Ben Fine, A Note on the Relationship between Additive Separability and Decomposability in Measuring Income Inequality (pdf; 1077kb)  (June 2019)
• No. 223 - Sophie van Huellen. Approaches to Price Formation in Financialised Commodity Markets (pdf; 457kb)  (April 2019)
• No. 222 - Simon Dikau and Ulrich Volz. Central Bank Mandates, Sustainability Objectives and the Promotion of Green Finance (pdf; 1320kb)  (March 2019)
• No. 221 - Luca Tasciotti, Farooq Sulehria and Natascha Wagner, Fertility, electricity and television: is there a link? Evidence from Pakistan, 1990-2012 (pdf; 1352kb)  (March 2019)
• No. 220 - Lorenzo Pellegrini, Luca Tasciotti, Corruption: Public and Private (pdf; 2mb)  (March 2019)
• No. 219 - Ben Fine, Post-Truth: An Alumni Economist’s Perspective (pdf; 1553kb)  (March 2019)
• No. 218 - Jan Lietava and Risa Morimoto: Regression tree analysis of soil fertility and agro-economic practices and the effects on yield in Tanzania (pdf; 2mb)  (March 2019)
• No. 217 - Christiane Heisse & Risa Morimoto, Climate change, chemical fertilisers and sustainable development – panel evidence from Tanzanian Maize farmers (pdf; 651kb)   (February 2019)
• No. 216 - A Principled Approach to Assessing Missing-Wage Induced Selection Bias by Duo Qin, Sophie van Huellen, Raghda Elshafie, Yimeng Liu, Thanos Moraitis (pdf; 845kb) (January 2019)

2018

• No. 215 - Endowment Structure, Industry dynamics and Vertical Production Structure in China-Theory and Evidence by Jim.H.Shen, Leilei Shen and Jun Zhang (pdf; 914kb)  (December 2018)
• No. 214 - The mainstream economics interpretation of the local state and central-local relations in Post-Mao China: a critical review by Alexandre Gomes (pdf; 791kb)  (November 2018)
• No. 213 - Price Discovery in Commodity Futures and Cash Markets with Heterogenous Agents by Sophie van Huellen (pdf; 565kb) (November 2018)
• No. 212 - American Radical Economists in Mao’s China: From Hopes to Disillusionment by Isabella M. Weber and Gregor Semieniuk (pdf; 543kb)  (October 2018)
• No. 211 - Too Much of a Good Thing? Speculative Effects on Commodity Future Curves by Sophie van Huellen - (July 2018) (pdf; 512kb) (July 2018)
• No. 210 - Financing Green Growth by Gregor Semieniuk and Mariana Mazzucato - April 2018 (pdf; 821kb) (April 2018)
• No. 209 - Governance and Land Reform in the Palm Oil Value Chain in the Philippines by Caroline Hambloch (May 2018) (pdf; 515kb) (May 2018)
• No. 208 - Energy in Economic Growth: Is Faster Growth Greener? by Gregor Semeiuk (April 2018) (pdf; 1232kb) (April 2018)
• No. 207 - The drivers of household indebtedness re-considered: an empirical evaluation of competing macroeconomic arguments on the determinants of household indebted in OECD countries by Glen Lauren Moore and Engelbert Stockhammer (February 2018) (pdf; 761kb)  (February 2018)

2017

• No. 206 The Undead World of Mainstream Economics (pdf; 621kb)   (November 2017)
• No. 205 – Explaining the Historic Rise in Financial Profits in the US Economy by Costas Lapavitsas & Ivan Mendieta-Muñoz (October 2017) (pdf; 1041kb)  (October 2017)
• No. 204 - Toward a Unified Theory of Economic Reform by HuangNan, Shen Jim XiaoJie and Liu Jun Zhang (pdf; 1346kb)  (October 2017)
• No. 203 Bond Yield Spillovers from Major Advanced Economies to Emerging Asia by Ansgar Belke, Irina Dubove and Urlich Volz (March 2017) (pdf; 7mb)   (March 2017)
• No. 202 - Localising Sovereign Debt: The Rise of Local Currency Bond Markets in Sub-Saharan Africa by Urlich Volz (Jan 2016 (pdf; 931kb)   (January 2017)

2016

• 201 - Predictive Macro-Impacts of PLS-based Financial Conditions Indices: An Application of the USA by Duo Qin & Qing-chao Wang (2016) (pdf; 1622kb)   (2016)
• 200 - The Changing Pattern of China's Economic Relations with Southeast Asia by Anne Booth (October, 2016) (pdf; 980kb)   (October, 2016)
• 199 - Compulsory Schooling and the Returns to Education: A Re-examination by Sophie van Huellen and Duo Qin (pdf; 1389kb)   (September, 2016)
• 198 - Developing or Under-developing? Implications of China's "Going out" for Late Development by Dic Lo (July 2016) (pdf; 819kb)  (July, 2016)
• 197 - From One-Dimensional Man to One-Dimensions Economy and Economics Ben Fine (June, 2016) (pdf; 608kb)  (June, 2016)
• 196 - Understanding the Recent Trend of Income Inequality in China Juzhong Zhuang (June, 2016) (pdf; 1112kb)   (June, 2016)
• 195 - Social Capital: From the Gringo’s Tale to the Colombian Reality by Ben Fine and Juan Pablo Durán Ortiz (pdf; 1376kb)   (May, 2016)
• 194 - Regional Financial Integration in East Asia against the Backdrop of Recent European Experiences (pdf; 1584kb)  (2016)
• 193 Are distortions good for development? Structural transformations and cotton in Uzbekistan (pdf; 1009kb)   (January, 2016)

2015

•   192 - Let's Take the Bias Out of Econometrics by Duo Qin - December 2016 (pdf; 707kb)   (December 2016)
•  191 Crisis?  What Crisis?  The World Bank and Housing Finance for the Poor (pdf) Elisa van Wayenberge, July 2015

2014

• 190. What Happens to Wage Elasticities When We Strip Playometrics? Revisiting Married Women Labour Supply Model (pdf)
• Duo Qin, Sophie van Huellen and Qing-Chao Wang, December 2014
• 189. Inextricability of Autonomy and Confluence in Econometrics (pdf)
  Duo Qin, June 2014
• 188. Health, Social Policy, and inclusive growth in MENA (pdf)
  Randa Alami, April 2014
• 187. Two Principles of Debt and National Income Dynamics in a Pure Credit Economy (pdf)
  Jan Toporowski, April 2014

2013

• 186. Capital Flows to Emerging Markets: An alternative Theoretical Framework (pdf)
  Bruno Bonizzi, November 2013
• 185. Price Non-Convergence in Commodities: A Case Study of the Wheat Conundrum (pdf)
  Sophie van Huellen, October 2013
• 184. Modelling Scale Effect in Crosssection Data:The Case of Hedonic Price Regression (pdf)
  Duo Qin and Yimeng Liu, September 2013
• 183. A History of Polyvalent Structural Parameters: the Case of Instrument Variable Estimato (pdf)
  Duo Qin and Yanqun Zhang, September 2013
• 182. Financing Water in Africa (pdf)
  Kate Bayliss, August 2013
• 181. A Note on Credit Allocation, Income Distribution, and the Circuit of Capital (pdf)
  Paulo dos Santos, April 2013
• 180. Groundwater Contamination and Contingent Valuation of Safe Drinking Water in Guadalupe, Zacatecas, Mexico (pdf)
  Osiel González Dávila, February 2013
• 179. A Paradigm Shift thatNever Will Be?:Justin Lin’s New Structural Economics (pdf)
  Ben Fine and Elisa Van Waeyenberge, January 2013
• 178. How Much Has Private Credit Lending Reacted to Monetary Policy in China? The Case of Wenzhou (pdf)
  Duo Qin, Zhong Xu, Xuechun Zhang, January 2013
• 177. Welfare Analysis of Changing Food Prices: A Nonparametric Examination of Export Ban on Rice in India (pdf)
  Ben Groom and Mehroosh Tak, January 2013
• 176. Economics - Unfit for purpose: The Director's Cut (pdf)
  Ben Fine, January 2013

2012

• 175. When Daughters Migrate and Mothers Do Not: Girl Children’s Paid Outside Work in West Bengal, India
  Deepita Chakravarty and Ishita Chakravarty, July 2012
• 174. Africa's Green Revolution? The determinants of the adoption of NERICAs in West Africa
  Steven Glover, Johnathan Phillips, Aliou Diagne and Ben Groom, June 2012
• 173.The Impact of Information Technology Outsourcing on Productivity and Output: New Evidence from India (pdf)
  Grace Kite, June 2012
• 172. The Monetary Theory of Kalecki and Minsky (pdf)
  Jan Toporowski, March 2012
• 171. Neologism as Theoretical Innovation in Economics: The case of 'Financialisation' (pdf)
  Jan Toporowski, March 2012
• 170. Lange and Keynes (pdf)
  Jan Toporowski, March 2012
• 169. Corporate Liquidity and Financial Fragility: The Role of Investment, Debt and Interest (pdf)
  Jan Toporowski, March 2012

2011

• 168. Functional Distribution of Income and Economic Growth in the Chinese Economy, 1978-2007 (pdf)
  Ricardo Molero Simarro, February 2011

2010

• 167. China and World Development beyond the Crisis (pdf)
  Dic Lo, October 2010
• 166. A Theory of Capital Rationing (pdf)
  Jan Toporowski, September 2010
• 165. Continental Drift: China and the Global Economic Crisis (pdf)
  Sangaralingam Ramesh, January 2010
• 164. China versus the Washington Consensus: The Anomaly for World Bank Advocacy Research (pdf)
  Dic Lo, January 2010

2009

• 163. On the Current Links Capital Markets and Investment in MENA Countries (pdf)
  Randa Alami. March 2009
• 162. Infrastructure, Knowledge Creation and Spillovers and Economic Growth in China (pdf)
  Sangaralingam Ramesh. March 2009
• 161. China's Transition to a Knowledge Economy (pdf)
  Sangaralingam Ramesh, February 2009

2008

• 160. Linking Technology Development to Enterprise Growth: Evidence from the Mozambican Manufacturing Sector (pdf)
  Alex Warren-Rodríguez. September 2008
• 159. An Exploration of Factors Shaping Technology-Upgrading Efforts in Mozambican Manufacturing Firms (pdf)
  Alex Warren-Rodríguez. May 2008
• 158. The Economics and Culture of Financialisation (pdf)
  Jan Toporowski, April 2008
• 157. Niebyl, Money and Development (pdf)
  Daniela Tavasci, Jan Toporowski and Radha Upadhyaya, April 2008
• 156. Uncovering Dynamics in the Accumulation of Technological Capabilities and Skills in the Mozambican Manufacturing Sector (pdf)
  Alex Warren-Rodríguez, March 2008
• 155. A Note on Mundell-Fleming and Developing Countries (pdf)
  John Weeks, March 2008

2007

• 154. Infrastructure as Economic Density (pdf)
   Sangaralingam Ramesh, December 2007
• 153. China's Quest for Alternative to Neo-liberalism: Market Reform, Economic Growth, and Labour (pdf)
  Dic Lo, November 2007
• 152. From South Asian to Diaspora: Missing Women and Migration (pdf).
  McCartney and Gill, November 2007
• 151. European Banks in the Developing World (pdf)
  Jan Toporowski, October 2007

2006

• 150. China's Economic Growth, 1978-2005: Structural Change And Institutional Attributes (pdf)
  Dic LO and LI Guicai, November 2006
• 149. The balance sheet approach to financial crises in emerging markets (pdf)
  Giovanni Cozzi and Jan Toporowski, October 2006
• 148. Making Sense of China's Economic Transformation
  Dic Lo, March 2006
• 147. Export-Oriented Policies, Women's Work Burden and Human Development in Mauritius (pdf)
  Myriam Blin, February 2006
• 146. The Best of Two Worlds: Between-Method Triangulation in Feminist Economic Research (pdf)
  Karin Astrid Siegmann and Myriam Blin, February 2006

2005

• 145. Unequal Prospects: Disparities in the Quantity and Quality of Labour Supply in Sub-Saharan Africa (pdf)
  John Sender, Christopher Cramer and Carlos Oya, 2005

2004

• 144. Firm Size, Technical Efficiency and Productivity Growth in Chinese Industry (pdf)
  Yuk-Shing Cheng and Dic Lo December 2004
• 143. China's Nexus of Foreign Trade and Economic Growth: Making Sense of the Anomaly (pdf)
  Dic Lo, August 2004
• 142. Social origins of Ottoman industrialisation: Evidence from the Macedonian town of Naoussa (pdf)
  Costas Lapavitsas, September 2004
• 141. The case for regional exchange rate arrangement in East Asia (pdf)
  Takuji Kinkyo, August 2004
• 140. Disorderly adjustments to exchange rate misalignments: The experience of Korea (pdf)
  Takuji Kinkyo, August 2004
• 139. Transmission channels of capital flow shocks: why Korean crisis was so severe (pdf)
  Takuji Kinkyo, August 2004
• 138. Does South Africa Suffer from the Fear of Float' Syndrome?An Analysis of the Efficacy and Challenges of a Managed Floating Exchange Rate Regime with Financial Integration (pdf)
  Olano Makhubela, July 2004
• 137. Globalisation and Comparative Economics: Of Efficiency, Efficient Institutions, and Late Development (pdf)
  Dic Lo, June 2004
• 136. Compensating Differentials and the Queue For Public Sector Jobs: Evidence from Egyptian Household Survey Data (pdf)
  Mona Said, March 2004
• 135. Assessing the Role of Foreign Direct Investment in China's Economic Development: Macro Indicators and Insights from Sectoral-Regional Analyses (pdf)
  Dic Lo, January 2004
• 134. 'Episodes of Liberalisation' or 'The Logic of Capital': The Genesis of Liberalisation in India (pdf)
  Matthew McCartney, January 2004
• 133. Export Promotion, the Fallacy of Composition and Declining Terms of Trade (or the Moors' Last Sigh)
  Matthew McCartney, January 2004

2003

• 132. The Distribution of Gender and Public Sector Pay Premia: Evidence from the Egyptian Organised Sector (pdf)
  Mona Said, December 2003
• 131. China, the East Asian Model and Late Development (pdf)
  Dic Lo, November 2003
• 130. Money as 'Universal Equivalent' and its Origin in Commodity Exchange (pdf)
  Costas Lapavitsas, May 2003

2002

• 129. Measurement and Nature of Absolute Poverty in Less Developed Countries (pdf)
  Massoud Karshenas, Nov. 2002
• 128. Banks and the Design of the Financial System: Underpinnings in Steuart, Smith and Hilferding (pdf)
  Costas Lapavitsas, Nov. 2002
• 127. Commodity Versus Gift as Metaphor for Market Versus Non-Market Relations (pdf)
  Costas Lapavitsas, Mar. 2002
• 126. The Emergence of Money in Commodity Exchange, or Money as Monopolist of the Ability to Buy (pdf)
  Costas Lapavitsas, Nov. 2002
• 125. Regional Economic Integraton in Africa: A Review of Problems and Prospects with a Case Study of COMESA (pdf)
  Alemayehu Geda & Haile Kebret, July. 2002
• 124. A New Mode of Coordination of the Division of Labour: The Significance of the Physical Features of Product Models and of the Application of Information Technology (pdf)
  Yuki Kawabata, July. 2002
• 123. Bank Rents and Uncertainty. A legacy of the subjectivists (pdf)
  Yasushi Suzuki, Mar. 2002
• 122. Microfinance and Poverty Reduction: The problematic experience of Communal Banking in Peru (pdf)
  Ana Marr, Feb. 2002
• 121. Studying Group Dynamics: An Alternative Analytical Framework for the Study of Microfinance Impacts on Poverty Reduction (pdf)
  Ana Marr, Feb. 2002
• 120. Economic Perspectives and Accounting Issues of Japanese Banks' Non-performing Loans (pdf)
  Yuta Hoshino, Feb. 2002
• 119. Towards a Re-interpretation of the Economics of Feasible Socialism (pdf)
  Dic Lo and Russell Smyth, Feb 2002

2001

• 118. Redistribution and Growth for Poverty Reduction (pdf).
  Hulya Dagdeviren, Rolph van der Hoeven, John Weeks, July 2001
• 117. Exports, Foreign Investment and Growth in Latin America: Scepticism by Way of Simulation (pdf).
  John Weeks., July 2001 | Abstract
• 116. The Crisis of Financial Intermediation, Understanding Japan's Lingering Economic Stagnation (pdf).
  Yasushi Suzuki, April 2001
• 115. Growth Variability among and within African Countries: An Aspect of Unsustained Development (pdf).
  John Weeks., April 2001
• 114. Total Returns in Developed and Emerging Markets in the Pacific Basin
  Graham Smith, Hyun-Jung Ryoo, March 2001

2000

• 113. Should I Stay or Should I Go? Migration Under Uncertainty: A New Approach (pdf).
  Yasmeen Khawaja., Oct. 2000
• 112. Military Spending and External Debts of Arab Countries 1975-1990
  Randa Alami. , January 2001
• 111. Privatisation and Adjustment in Mozambique: a 'Hospital Pass'? (pdf)
  Christopher Cramer. December 2000
• 110. Development Ethics: A Research Agenda
  David Alexander Clark. November 2000 
• 109. The Post-Washington Consensus and Lending Operations in Agriculture: New Rhetoric and Old Operational Realities (pdf).
  Jonathan Pincus. , November 2000
• 108. Introduction: Reinventing the World Bank
  Jonathan Pincus. , November 2000
• 107. Struggles to escape Poverty in South Africa: Results from a Purposive Rural Survey (pdf).
  John Sender, November 2000
• 106. Agriculture and Economic Development in Sub-Saharan Africa and Asia (pdf)
  Massoud Karshenas, November 2000 | Abstract
• 105. Inequality, Development and Economic Correctness (pdf).
  Christopher Cramer, November 2000
• 104. Adaptive Technology Strategies and Technical Efficiency: Evidence from the Sri Lankan Agricultural Machinery Industry (pdf)
  Sonali Deraniyagala, November 2000
• 103. The Impact of Technology Accumulation on Technical Efficiency: an Analysis of the Sri Lankan Clothing and Agricultural Machinery Industries (pdf).
  Sonali Deraniyagala, November 2000
• 102. New Trade Theory Versus Old Trade Policy: A Continuing Enigma (pdf)
  Sonali Deraniyagala and Ben Fine., November 2000
• 101. Output per Acre and Size of Holding: A critique of Berry and Cline on the inverse relationship (pdf).
  Graham Dyer, November 2000
• 100. Growth and the Poor: A Comment on Dollar and Kraay (pdf)
  Malter Lubker, Graham Smith, John Week, , October 2000
• 99. Redistribution Matters: Growth for Poverty Reduction (pdf).
  Hulya Dagdeviran, Rolph van der Hoeven, John Weeks. October 2000
• 98. The Political Economy of Industrial Policy in Pakistan 1947-1971 (pdf)
  Dr. Mushtaq Khan, February 2000

1999

• 97. Korean Stock Prices Under Price Limits: Variance Ratio Tests
  Hung-Jung Ryoo, Graham Smith, October 1999 
• 96. Variance Ratio Tests of the Random Walk Hypothesis for European Emerging Stock Markets
  Hung-Jung Ryoo, Graham Smith. December 1998
• 95. The Impact of Stock Index Futures on the Korean Stock Market
  Hung-Jung Ryoo, Graham Smith. November 1999 
• 94. African Stock Markets: Multiple Variance Ratio Tests of Random Walks.
  Graham Smith, Keith Jefferis, Hyun-Jung Ryoo. Jan. 2000
• 93. New and Improved: Economics' Contribution to Business History (pdf).
  Professor Ben Fine, February 2000 | Download PDF File
• 92. Whither the Welfare State: Public versus Private Consumption? (pdf)
  Professor Ben Fine, February 2000
• 91. Consumption for Historians: An Economist's Gaze (pdf).
  Professor Ben Fin, February 2000
• 90. Should the Informal Sector to Considered in LDC Economic Policy?
  Claude Sumata., February 2000
• 89. Purchasing Power Parities and the International Comparison or Real Agricultural Output and Productivity.
  Dr. Massoud Karshenas. June 1999
• 88. Structural Obstacles to Economic Adjustment in the MENA Region: The International Trade Aspects.
  Dr. Massoud Karshenas. April 1999 
• 87. North's Institutionalism and the Problem of Combining Theoretical Approaches.
  Paul Vandenberg, March 1999 
• 86. Dilemmas and Prospects for Economic Reform and Reconstruction in Iran.
  Dr. Hassan Hakimian and Dr. Massoud Karshenas. March 1999 
• 85. Stuck in Low Gear? Macroeconomic Policy in South Africa 1996-1998 (pdf).
  Professor John Weeks. March 1999
• 84. Risk, Ethnicity and Property Rights: Towards a Political Economy of Africa's Institutions.
  Paul Vandenberg, March 1999 

1998

• 83. North's Institutionalism as a bridge between neo-classical and alternative schools.
  Paul Vandenberg, August 1998 
• 82. From East to West Asia: Lessons of Globalisation, Crisis and Economic Reform (pdf).
  Dr. Hassan Hakimian, August 1998
• 81. Noisy Implementation Cycles and the Informational Role of Policy (pdf)
  Dr. Pasquale Scarramozzino and Dr. Nir Vulkan. Feb. 1998
• 80. Endogenous Growth Theory: A Critical Assessment (pdf)
  Professor Ben Fine, Feb. 1998
• 79. Economic Liberalisation, Competitiveness and Womens Employment in the Middle East and North Africa (pdf).
  Dr Massoud Karshenas
• 78. Labour Markets and the Diversity of Adjustment
  Dr. Massoud Karshenas 

1997

• 77. Central Bank Independence: a critical perspective
  Dr. Costas Lapavitsas, Oct. 1997 
• 76. State and Finance in Economic Development: Some Analytical Issue Relevant to the East Asian Miracle.
  Dr. Costas Lapavitsas, Oct. 1997 
• 75. Social Exclusion and Japanese Capitalism: the case of white-collar workers.
  Dr. Costas Lapavitsas, Oct. 1997 
• 74. Intergenerational Transfers and Growth (pdf)
  Giancarlo Marini and Pasquale Scaramozzino
• 73. Civil War is Not a Stupid Thing: exploring growth, distribution and conflict linkages (pdf).
  Dr. Chris Cramer, Oct. 1997
• 72. Initial Conditions and Miraculous Growth: Why is South-East Asia Different from Taiwan and South Korea? (pdf)
  Professor Anne Booth, Oct. 1997
• 71. Trade Liberalistion, Market Deregulation and Agricultural Performance in Central America (pdf).
  Professor John Weeks. Aug. 1997 
• 70. Latin America and the High Performing Asian Economies: Growth and Debt (pdf).
  Professor John Weeks. July 1997
• 69. On the Theory of Decentralisation: A Critique of Mainstream Economics and Towards an Alternative Political-Economy Approach.
  Dr. Rathin Roy., July 1997 
• 68. Rural Poverty & Poverty Alleviation in Mozambique: What's Missing from the Debate? (pdf)
  Christopher Cramer and Nicola Pontara May 1997
• 67. Re-appraising Chinas State-owned Industrial Enterprises
  Dr. Dic Lo, April 1997
• 66. A Note on Market Liberalisation & Agricultural Performance in Central America. See Working Paper 71.
  Professor John Weeks. April 1997 
• 65. Social Time Preference (pdf)
  Giancarlo Marini and Pasquale Scaramozzino. Feb. 1997