Fields of Concentration:
Macroeconomics
Applied Econometrics
Bayesian Statistics
Financial Economics
International Economics
Labor-Public Economics
Public Financial Management
Research Interests:
Dynamic Stochastic General Equilibriums Models
Real Business Cycle Models
Bayesian Statistics
Time Series Econometrics (including Forecasting)
Application of Deep learning methods in macroeconomics
Data Science, Artificial intelligence (LLMs, Neural Networks), Geospatial Analytics
Singh, Kaushiki. Iowa State University ProQuest Dissertations & Theses, 2025. 31847482.
Policy Research Working Paper, WPS 11434, World Bank Group, August 2026
Abstract
This study examines how configurations of public financial management performance, sectoral spending, and governance context shape education and health outcomes across developing and middle-income economies. Using fuzzy set qualitative comparative analysis and Bayesian robustness checks, the analysis identifies multiple sufficient pathways linking budget execution credibility to primary education, secondary education, universal health coverage, and under five mortality outcomes. The findings confirm that public financial management conditions operate through conjunctural combinations rather than linear channels, their explanatory reach is stronger for intermediate than longer term outcomes, and strong aggregate and revenue execution can compensate for low sectoral spending. Budget credibility at the execution stage emerges as the central operative mechanism.
Working Paper, NCDS, Bhubaneswar · Jul 1, 2019
Bayesian Structural Estimation of a Real Business Cycle Model
May 21, 2024
May 21, 2024
Asset Market Segmentation
with Steve Loris Gui-Diby & Mahugnon Stanislas Cedric Deguenonvo
Applied Economics Letters, August 18, 2026
Abstract:
This paper presents a modular, bottom‑up framework linking state‑owned enterprise (SOE) financial risks to macroeconomic outcomes through fiscal exposure and resource misallocation. Using financial ratios and credit risk metrics, SOE distress is translated into expected fiscal costs and mapped to total factor productivity and long‑run growth. Results suggest governance reforms could deliver larger gains than wage-bill cuts. Projections rely on explicit modelling assumptions and sensitivity checks; they indicate potential pathways rather than causal effects. While applied to the Democratic Republic of Congo the modular framework could be adapted to other countries with appropriate calibration.
with Dr. Srjit Mishra
Economic and Political Weekly · Jun 26, 2021
Abstract:
Marginal and small farm sizes constitute more than 85% of the operational holdings in India. Several concerns regarding the sustainability, efficiency, access to formal sources of credit and the scale neutrality of such credit plague the smallholders. This study finds that the smallholders are efficient but the returns to them are woefully low, which threatens their sustainability. Further, the smallholders have to rely more on non-institutional sources for their credit requirement and often with a greater interest burden. In addition, the credit provided by formal sources is not scale-neutral. This posits a difficulty for policy praxis, which must urgently address these issues plaguing the smallholders.
with Dr. Pushpa Truvedi, Dr. Sangita Mishra and Lavanya Ammu
IUP JOURNAL OF APPLIED ECONOMICS · Aug 1, 2019
Expansionary fiscal policy can stimulate or retard growth in an economy depending on whether it crowds in or crowds out private investment. Amidst mixed results in the literature, the present study makes a comprehensive attempt to examine crowding out evidence by exploring the link between Gross Fiscal Deficit (GFD) on the one hand, and real interest rates and private investment, on the other, in a time series framework for the central government and panel framework for 23 state governments. The Autoregressive Distributed Lag (ARDL) cointegration results confirm the existence of a long-run equilibrium relationship between GFD, adjusted for cycles, and real rate of interest for central government for the period 1980-81 to 2017-18, thus supporting financial crowding out. While support for real crowding out is weak for central government, for the state governments, support has been found for real crowding out, with the strength of the coefficient rising when GFD is financed by gross market borrowings. This reinforces the need for both tiers of government—national and sub-national—to continue efforts towards fiscal consolidation, improving the quality of expenditure and to try financing their deficits less via market borrowings and more through own revenues.
RBI Occasional Papers Vol. 39 · Dec 1, 2018
This paper focuses on the role of social sector spending in improving developmental outcomes. It situates India in a cross-country assessment of the progress made with regard to sustainable development goals (SDGs). It reviews trends in states’ social sector expenditure and SDG outcomes, in particular, education and health, while drilling down into spatial distribution patterns. Analytical findings support the growth enhancing role of human capital formation and the important role that education and health expenditures play in improving primary enrolments and in reducing infant mortality rates. Spending through certain centrally sponsored schemes has also been productive in improving the SDG outcomes, particularly in the current decade. The paper also provides evidence on convergence which augurs well for sustainable growth. Going forward, the focus of education and health expenditures should be on improving secondary enrolment, learning levels among students and quality of health services so as to eliminate the existing gap with respect to SDG target. While persevering with fiscal consolidation, channelising spending towards SDGs coupled with improving the efficiency of such expenditures may be crucial to meet the financing gap.
RBI Occasional Paper · Apr 12, 2015
The new initiative of capital financing of SMEs through IPOs has been quite encouraging and the secondary market performance of SME IPOs has also been very good. However, it seems that this is risky for investors, as there is not enough liquidity and the turnover is also low. Considering these problems, market regulator SEBI has issued guidelines to keep away small investors from investing in SME IPOs. In order to make the market liquid, SEBI guidelines stipulate that merchant bankers should act as market makers in such stocks for three years. However, after the stipulated period of three years, the stocks may face the problem of liquidity again. In order to avoid such a scenario, the present paper suggests the need for more transparency and increased institutional participation in companies listed on SME platforms. Also, stock exchanges where these companies are listed should provide sustained handholding to the managements of these companies.
Reserve Bank of India Bulletin · Jun 1, 2020
Reserve Bank of India Bulletin · Apr 1, 2020
Reserve Bank of India Bulletin · Sep 1, 2019
Reserve Bank of India Bulletin · Dec 1, 2018
Reserve Bank of India Bulletin · April 1, 2018
Money on the table: Why better budget planning is key to fixing the water crisis, World Bank Blog, Voices, August 20, 2026
The Art and Science of Government Balance Sheet Management: Bridging Debt, Investment, and Asset Management, PFM Blog, IMF, April 27, 2026
Beyond the Price Tag: How VAT Affects Households in the Democratic Republic of Congo (DRC), Feature Story, World Bank Group, November 03, 2025