Associate Professor of Economics
Professor Khemraj is an applied macro-economist. His research – conducted in the fields of monetary economics, development economics, political economics and international finance – tends to be unorthodox, drawing on theories and ideas from political science and mainstream and heterodox schools of economics, particularly the Neo-Classical tradition emphasizing imperfect markets, Post Keynesianism, Old Keynesianism, Neo-Structuralism and the body of literature associated with New Institutional Economics. A central focus of his theoretical work is to provide policy insights for small, very open developing economies.
He currently serves as a Research Associate at the Caribbean Centre for Money and Finance, University of the West Indies, Trinidad and Tobago. He writes numerous invited columns for the Stabroek News in Guyana and other media outlets. He also serves as external master’s and doctoral thesis examiner for University of West Indies, Cave Hill Campus, Barbados and University of Witwatersrand, Johannesburg, South Africa.
Money, Banking and the Foreign Exchange Market in Emerging Economies, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, 2014.
“Bank liquidity preference and the investment demand constraint,” Economic Modelling, Vol. 33 (July), 2013.
"Dual nominal anchors in the Caribbean," Journal of Economic Studies, Vol. 39, No. 2, 2012 (co-author Sukrishnalall Pasha)
"Analysis of an unannounced foreign exchange regime change," Economic Systems, Vol. 36, No. 1, 2012 (co-author Sukrishnalall Pasha)
“What does excess bank liquidity say about the loan market in Less Developed Countries?” Oxford Economic Papers, Vol. 62, No. 1, 2010
“The simple analytics of oligopoly banking in developing economies,” Journal of Business, Finance and Economics in Emerging Economies, Vol. 5, No. 1, 2010.
“Excess liquidity and the foreign currency constraint: the case of monetary management in Guyana,” Applied Economics, Vol. 41, No. 16, 2009.
“The missing link: the finance-growth nexus and the Guyanese growth stagnation,” Social and Economic Studies, Vol. 57, Nos. 3&4, 2008
"Monetary policy and excess liquidity: the case of Guyana," Social and Economic Studies, Vol. 56, No 3, 2007.
Research Work in Progress:
From Party Paramountcy to Elected Oligarchy: a Case Study in Underdevelopment, Book manuscript.
“Stabilizing the unstable small open developing economy”
“The monetary transmission mechanism and financial stability in developing economies”“Chartalism and Caribbean Monetary Union” (co-author Samuel Braithwaite)
“Ethnic division, strategic voting and development: the case of Guyana”