Dr Keshab Bhattarai

Dr Keshab Bhattarai

Senior Lecturer in Economics

Faculty and Department

  • Faculty of Business, Law and Politics
  • Hull University Business School


  • MA
  • LLB
  • MA
  • PhD


Keshab Bhattarai is a senior lecturer in economics, specialising in general equilibrium analysis of macro and micro economic policy issues and econometrics. He had published solely or with co-authors in the following refereed journals:

International Economic Review, Economica, Economic Letters, Journal of International Money and Finance, Review of International Economics, Manchester School, Southern Economic Journal, German Economic Review, Economic Modelling, Economic Record, Applied Economics, Applied Financial Economics, Empirical Economics, Review of Development Economics, North American Journal of Economics and Finance, Atlantic Economic Journal, Journal of International Economics and Economic Policy, International Advances in Economics Research, Applied Financial Economics Letters.

Dr Bhattarai is involved in teaching advanced macroeconomics, advanced microeconomics and econometric analysis for PhD students, economics and research methods for MSc students, and macroeconomics at undergraduate level.

Dr Bhattarai has also served as an external examiner of undergraduate and postgraduate programmes and PhD theses for reputed universities in the UK and abroad.

He has given seminars to other departments and presented papers and chaired sessions regularly in high level conferences including the RES, AEA, EEA, EEFS, AIEFS and IAES.

Led dynamic general equilibrium modelling tasks of the energy sector under the Supergen research project from 2005-2007 in the University of Hull.

Contributed to the dynamic general equilibrium modelling of the US economy with colleagues at the Beaconhill Institute of the Suffolk University, Boston, USA for analysis of tax reform proposals of presidential candidates in the general election 2016 under a large scale grant (£75000) from the National Council for Policy Analysis in Texas, US. Results of an earlier study (grant $10000) on the impacts of fair tax system led to papers for policy debates in 2006-2007 and a publication in the IEEP in 2016. Earlier he worked on EU economy model (grant £5000) under EU policy framework II programme.

More recently he had British Academy grant (£10,000) to develop a CGE model of Vietnam for tax policy analysis for collaboration with Dr Chan Van Nguyen of the National Economy University of Vietnam. This led to a Hull PhD thesis by Thi Kim Nguyen from there.

Invited speaker to universities and institutions in the UK and India, such as UWE and Loughborough Universities in the UK, the Economics and Growth Institute in Delhi, the University of Hyderabad in India, and TU and KU in Kathmandu.

Key Publications

1. Bhattarai K. and J Whalley (2003) Discreteness and the Welfare Cost of Labour Supply Tax Distortions, International Economic Review 44:3:1117-1133, August.

2. Bhattarai K and John Whalley (2009) Redistribution Effects of Transfers, Economica, 76:3:413-431.

3. Bhattarai K., S. Mallick and Bo Yang (2020) Are Global Spillovers Complementary or Competitive? Need for International Policy Coordination, Journal of International Money and Finance, ( https://doi.org/10.1016/j.jimonfin.2020.102291 )

4. Basu, P., Bhattarai, K. and Getachew, Y., (2019). Capital adjustment cost and inconsistency in income-based dynamic panel models with fixed effects. German Economic Review, 20(4): e1002–e1018.

5. Bhattarai K and H. Dixon (2014) Equilibrium Unemployment in a General Equilibrium Model with Taxes, The Manchester School, 82, S1, 90-128

6. Bhattarai K, P. Bachman, F. Conte, J. Haughton, M. Head, D. G. Tuerck (2018) Tax plan debates in the US presidential election: A dynamic CGE analysis of growth and redistribution trade-offs, Economic Modelling, 68, 529-542

7. Haughton J, Bhattarai K, P. Backman and D. G. Tuerck (2017) The Distributional Effects of the Trump and Clinton Tax Proposals, Atlantic Economic Journal, 45(4), pp.453-472.

8. Bhattarai K (2016) Unemployment-Inflation Trade-Offs in OECD Countries, Economic Modelling, 58, 93-103.

9. Bhattarai K (2015) Financial Deepening and Economic Growth in Advanced and Emerging Economies, The Review of Development Economics, 19(1), 178-195

10. Bhattarai K and D Trzeciakiewicz (2017) Macroeconomic-impacts of fiscal policy-shocks in the UK: A DSGE analysis, Economic Modelling, 61, 321-338.

11. Basu P. and K. Bhattarai (2012) Government Bias in Education, Schooling Attainment and Long-run Growth, Southern Economic Journal, 79(1), 127-143.

12. Basu P. and K. Bhattarai (2012) Cognitive Skills, Openness and Growth, the Economic Record, 88: 280: March: 18-38.

13. Bhattarai K (2011) General Equilibrium Impacts of Monetary and Fiscal Policies on Welfare of Households in South Asia, the Review of Development Economics, 15:4:745-757, Oct

14. Bhattarai K and J Whalley (2006), Division and Size of Gains from Liberalization of Trade in Services, Review of International Economics, 14:3:348-361, August.

15. Bhattarai K., M. Ghosh and J. Whalley (1999) On some properties of a trade closure widely used in numerical modelling, Economics Letters, 62:1:13-21, January

16. Bhattarai K. and J. Whalley (1999) Role of labour demand elasticities in tax incidence analysis with heterogeneity of labour, Empirical Economics, 24:4:.599-620, November.



- Dissertation

- Empirical Economics

- Further Economic Analysis


- Advanced Macroeconomics

- Advanced Microeconomics

- Econometric Analysis

Recent outputs

View more outputs

Journal Article

India Led Growth in South Asia: Empirical Analyses

Bhattarai, K. (2021). India Led Growth in South Asia: Empirical Analyses. Journal of Development Economics and Finance, 1(2), 401-415

Determinants of Capital Flight: New Panel Evidence from Sub-Saharan Africa (SSA)

Egbulonu, A. J., & Bhattarai, K. (2020). Determinants of Capital Flight: New Panel Evidence from Sub-Saharan Africa (SSA). Journal of Development Economics and Finance, 1(2), 255-287

Exhaustible Resources and Sustainable Growth: Evidence from Libya

Taloba, A. I., & Bhattarai, K. R. (2020). Exhaustible Resources and Sustainable Growth: Evidence from Libya. Journal of Development Economics and Finance, 1(2), 361-384

Growth and redistribution impacts of income taxes in the Thai Economy: A dynamic CGE analysis

Bhattarai, K., & Benjasak, C. (2021). Growth and redistribution impacts of income taxes in the Thai Economy: A dynamic CGE analysis. Journal of economic asymmetries, 23, https://doi.org/10.1016/j.jeca.2020.e00189

Does corruption matter for stock markets? The role of heterogeneous institutions

Lakshmi, G., Saha, S., & Bhattarai, K. (2021). Does corruption matter for stock markets? The role of heterogeneous institutions. Economic modelling, 94, 386-400. https://doi.org/10.1016/j.econmod.2020.10.011







Fiscal Policy for Growth, Efficiency and Redistribution in Vietnam: A CGE Analysis


British Academy




1 September 2017



Postgraduate supervision

Dr Bhattarai welcomes applications in

- Tax policy analysis and public finance

- UK, EU and US and other advanced economies

- Developing and emerging economies

- Dynamic CGE and applied microeconomics

- DSGE models and applied macroeconomics

- Finance and growth

- Applied econometrics

Students who Completed PhDs, with me as the first supervisor:

Dr Chonlakan Benjasak: Computable General Equilibrium and Econometric Analyses of Taxation and Finance in Thailand, study leave from Walailak University, Thailand

Dr Resham B. Thapa Parajuli: Liberalisation, growth and redistribution as a process of development

- Dr Abraham Adu (2017) Banking sector efficiency in Ghana: General Equilibrium and Econometric Analysis

- Dr Kennedy Abrokwa (2016) Role of energy sector in the Ghanaian economy

- Dr Dawid Trzeciakiewiecz (2015) Three Essays in Fiscal Policy of the UK: DSGE Analysis

- Dr Emmanuel Okyere (2013) Dynamic General Equilibrium Analysis of Economic Policies in Ghana

- Dr Andrew Sloan (2009) Macroeconomic dynamics among UK Regions, HUBS

- Dr Sehm Negm (2009) Free Trade and Economic Growth in Egypt; Tanta University, Egypt

- Dr Mark K Armah (2007) Econometric and General Equilibrium Analysis of Exchange Rate in Developing Economies

- Dr Francesco D Bispham (2006) Panel-Cointegration and Unit Roots and Efficiency of Asymptotic Estimators

- Dr Naveed Hassan Naqvi (2003) The Relationship Between Private and Public Capital and Impact on Economic Growth: The Case of Pakistan

As second supervisor

- Dr Fu Tong (2015) Ex post contract adjustment in public private partnership projects (with Steve Trotter)

- Dr Ahmet Al-Busaidy (2009) Industrial Clustering in Oman (with Steve Trotter)

- Dr Hoessein Panahi (2008) Geographic Proximity and Economic Growth (with Richard Green)

Ph.D. first supervisees who have completed viva:

1. Abdelatif Taloba: Models of economic growth and redistribution in Libya; study leave from Misurata Libya (RR after viva);

2. Xinxing Sima: Economic Growth and Dynamic CGE Analysis in Education and Health Sectors in China from 2000 to 2010; Viva taken in August 2016, revising for resubmission.

3. Egbulonu, Alloysius: The Dynamics of Corruption, Capital Flight and Economic Growth with Panel Evidence from Sub Saharan Africa; self-finance, Viva 19 March 2018, revising for resubmission.

4. Ben-Naser Abdulhamid: Impacts of exchange rate fluctuations on macroeconomic performance in Libya, study leave, University of Misurata Libya. (Viva Nov2019; RR after viva)

5. Thi Kim Dung Nguyen: A CGE model for fiscal and monetary policy analyses of Vietnam; study leave, NEU, Hanoi, Vietnam. (viva 20 Dec 2019).

Current Ph.D. students, supervisees:

1. Binayak Pandit: CGE model of Nepal for optimal fiscal and monetary policy of Nepal ; (jointly with F Perez-Sebastian)

2. Ahmad E Alfar: SEM modelling of the shadow economy of Palestine; (jointly with F Perez-Sebastian) .

3. Apere, Tamara Karela: Building a sustainable path of growth through agriculture in Nigeria; (upgrade planned Jan 2020)

4. Lucky Ossai : Employment generation and agricultural transformation in Nigeria (part time)

Journal editorial role

Editor-in-Chief Journal of Development Economics and Finance



Associate Editor, Journal of Economic Asymmetries



Journal peer reviewer

Referee to journals


• Certificates of Outstanding Reviewer or Reviewer from eight Elsevier (2* to 4*) journals 2018. • Journals: International Journal of Financial Stability, International Economic Review, Journal of International Economics, International Journal of Economics and Finance, Manchester School, Review of the International Economics, Applied Economics, Economic Modelling, Int. Journal of Social Economics, International Review of Applied Economics, Empirical Economics, Journal of Economic Dynamics and Control, Manchester School, Economic Systems, Journal of Economic Behaviour and Organisation, Economic Asymmetries, Energy Economics, Bulletin of Economic Research, International Review of Applied Economics, Journal of Business Economics and Management

Scholarship role

Higher Education Training Certificates


• Certificate in Higher Education from the Northeastern University College Boston, Mass. USA 1995. • CGE Modeller in GAMS/MPSGE Tax, Trade and Economic Dynamics, GAMS Corporation, 1997-1998. • Certificate, National Administration Services, Nepal Administration Staff College, Kathmandu, Nepal, October 1983. • Yoga Shastree (Bachelor in Yoga), Mrigastasthali Narahari-Nath Ashram, Pashupati, Kathmandu, Nepal. • University of Hull Certificates on Leadership, Diversity (Managers), Unconscious Bias, Health I and II, Fire and Safely, Recruitment and Selection, Data Protection- GDPR, Manager’s Guide to Stress, Research Integrity, Research Supervision 2018-19; Bullying and Harassment (Employees; Managers), Anti-bribery, Safeguarding in HE, Diversity in Workplace.