Research

Below, you’ll find my research and publications organized by research area and year.

Economic Growth and Convergence

Relative Convergence, Divergence (Unconditional, Conditional and in OECD) November, 2025.

Economists have mistakenly identified income ratio increase (relative convergence) with convergence (income gap reduction). We prove that faster growth (relative convergence) does not imply income gap reduction, and β-convergence does not imply income differences decrease. We define the convergence rate and test the convergence hypothesis using it. With data from three different sources from 1950 to 2024, we demonstrate unconditional and conditional divergence from the smallest (OECD) to the largest group of countries. Further, the lower the initial income greater is the divergence rate and income divergence is due to the divergence of TFP from the world technological frontier.

Growth Accounting: Do the Proximate Factors for Slowdowns Differ? September, 2025

Incomes rarely grow in a linear path over more than a decade. Whether growth accounting for accelerations differs from slowdowns for the same countries has not been completely examined. This paper undertakes this analysis to uncover dominant proximate factor for growth. It uses data for one geographical region, Sub-Saharan Africa (to reduce parametric heterogeneity), for 66 years from PWT. The two periods are 20-30 years long, and separate accounting for the two reveals human capital primarily explaining growth – not revealed by combined observations. It provides evidence that averaging over ten years/annualizing growth rates suppress annual variations useful for longitudinal estimation

EU Accession, Institutional Change, Growth and Human Capital, Published 17 June, 2025, Economies 2025, 13(6), 177; available at https://doi:10.3390/economies13060177

This paper studies effects of initial institutions and improvement in institutions upon joining the EU on growth using the experience of ex-socialist countries that joined EU. These countries experienced growth boosts post-EU accession, and the boost was due to increased contribution of human capital. Their skilled labor needed the right institutions to unlock its potential.

State of the Developing World: PPP Income, Catching-Up/Falling Behind, and No Growth, June 2021

See abstract at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2909338

Privatization and Growth: Natural Experiment of European Economies in Transition, MPRA Paper No. 96080, 28 September, 2019, available at https://mpra.ub.uni-muenchen.de/96080

Income Convergence and The Catch-Up Index. North American Journal of Economics and Finance. Vol. 48, April 2019, pages 613-627, available at https://doi.org/10.1016/j.najef.2018.07.017

Stillbirths and Life Expectancy

Stillbirths: How should its rate be reported, its disability-adjusted-life-years (DALY), and stillbirths adjusted life expectancy, BMC Medical Informatics and Decision Making, Vol. 19 (2019), pp. 133-140 https://doi.org/10.1186/s12911-019-0850-8

Globalization and Institutions

Multinational Corporations and Institutions July 2019.

See abstract at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=290932

Foreign Aid and Long-Term Prospects of Recipients, September 2019.

See abstract at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3277203

Financial Openness & Institutions In Developing Countries, Research in International Business and Finance, Vol. 46, December 2018, pp 240-250. https://doi.org/10.1016/j.ribaf.2018.03.001

Are Institutions In Developing Countries Malleable Journal of Policy Modeling, Vol. 38 (2016), Issue 2, pp. 272-289. https://doi.org/10.1016/j.jpolmod.2016.01.002

Capital Flight and Capital Flows

Relationship Between Different Types of Private Flows To Developing Countries Quantitative and Qualitative Analysis in Social Sciences, Vol. 4 (2010), Issue 1, pp. 58-82

Capital Flight, Commissioned Entry in the Encyclopedia of Globalization, Vol. I (2007), R. Robertson and J.A. Scholte (eds.), published by Routledge. ISBN # 0-415-97314-7

Capital Mobility among Advanced Countries. Journal of Policy Modeling, Vol. 27, December 2005, pp. 1067-1081

The Asian Crisis and Financial and Capital Account Liberalization, pp. 98-108 in Chatterji, M. and P. Gangopadhyay (eds.) “Economic Globalization and Asia.” (2005) Ashgate Publishing Ltd., U.K., ISBN # 0-75-46414-7,

What is Capital Flight? The World Economy, Vol. 25, No. 3, March 2002, pp. 341-358,

Capital Inflows and Capital Flight – Individual Countries Experience, Journal of Economic Integration, December 1998, pp. 644-61,

Foreign Direct Investment and Capital Flight Princeton Studies in International Finance, No. 80 (1996), International Finance Section, Department of Economics, Princeton University, Princeton, NJ,

Goodwill, Sam. 2021. “Article Name Here.” Publication Name, January 1, 2023. Article Link.

Transfer Pricing

Minority Ownership, Deferral, Perverse Intra-firm Trade and Tariffs. International Economic Journal, Spring 1995,

Multinational Firms and Government Revenues, Journal of Public Economics, Vol. 42 (1990), Issue 2, pp. 135-47

Perverse Intra-firm Trade, Southern Economic Journal, Vol. 56 (1989), No. 1;

Foreign Subsidiary, Transfer-pricing and Tariffs. Southern Economic Journal 55 (1988), 162–170.

Endogenous Transfer Pricing and the Effects of Uncertain Regulation. Journal of International Economics, 24 (1988), 147-157.

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