Hafsal K

Assistant Professor

Madras Institute of Development Studies 79, II Main Road, Gandhinagar, Adyar, Chennai 600020
Telephone: 0091-44-24412589 24411574 24420204 24419771; Extn: 380; Fax: +91 - 44 - 24910872
E-mail: hafsal@mids.ac.in / hafsal.k2020@gmail.com


  • Ph.D., University of Hyderabad, 2021. Thesis: Asset Price Bubbles and Portfolio Optimization: Issues and Evidence.
  • M.Phil., University of Hyderabad, Economics, First Division, 2014
  • M.A., Pondicherry University, Applied Economics, First Division, 2013.
  • B. A., Calicut University, Economics, First Division, 2010

Work Experience

  • Assistant Professor at the Madras Institute of Development Studies (March 2023 onwards).
  • Research Associate Indian Institute of Management, Bangalore (December 2019 -December 2021).
  • Assistant professor B.S.Abdur Rahman Crescent Institute of Science & Technology(feb-2022-May 2022).
  • Assistant Professor Sadakathullah Appa College- Rahmath Nagar-Tirunelveli-(May 2022- March 2023).

Area of Research

Financial Economics, Macroeconomics, Applied Econometrics. Efficiency and Productivity Analysis.

Fellowships / Awards

  • Awarded Moulana Azad National fellowship (MANF) for PhD from 2015.
  • Awarded Jawaharlal Nehru Memorial Fund for PhD.
  • Qualified National Eligibility Test (UGC- NET), for Lectureship and Assistant Professor 2012.

Papers Published

  1. Hafsal K, S. Raja Sethu Durai. “Portfolio Optimization Using Fundamental Beta: Evidence from India” Macroeconomics and Finance in Emerging Market Economies, 13(3), 264-275.
  2. Hafsal K, S Anandarao and S Raja Sethu Durai “Efficiency of Indian Banks with Non-Performing Assets -Evidence from Two-stage Network DEA" Future Business Journal, 6(1), 1-9.
  3. Hafsal K, Avishek Bhandari, Yazir P. (2016), “Co-movements and Volatility spillover in Asian Forex Market: A Multivariate GARCH and MRA Approach”, Empirical Economics Letters. 15(4), 72-85.
  4. Hafsal K, and Anoop S Kumar, (2021), “Explosivity in the crypto currency market: A Panel GSADF Approach” IUP Journal of applied economics, 20 (4), 60-73.
  5. Hafsal K, and Yazir P (2016), “Consumption: Growth and Changing Pattern in Kerala” in Amal International Journal of Economics & Social Sciences
  6. Hafsal K and S. Raja Sethu Durai “Fundamental and Bubble Spillovers in Stock Markets – A Common Trend Approach” SN Business & Economics, 3, 78

Papers Presented in Seminars/Conferences/Workshop

  1. Presented Paper “Explosive Bubbles in Equity Markets: Evidences from the Asian Countries” at international conference on contemporary issues of economic policy in developing economies. Organized by Moulana Azad national Urdu university (March 2018).
  2. Presented Paper “Does volatility in Asian forex market transmit to India” at 52nd annual conference of the Indian Econometric Society (TIES), IIM-Kozhikode, (January 2016).
  3. Presented Paper “Volatility Transmission between the Crude Oil and Commodity Indexes in India: An Empirical Analysis Based on MCX Commodity Exchange”, at 51st The Indian Econometric Society (TIES) held at Punjabi University, Patiala, Punjab 2015.

Participated in Seminars/Conferences/Workshop

  1. Participated one weak workshop on “Applied Financial Econometrics” organized by university of Hyderabad (September 2016).
  2. Participated one weak workshop on “An introduction to data analysis using R” organized by university of Hyderabad (September 2016) organized by CR Rao advanced Institute of Mathematics statistics and computer Science (2016).
  3. Organizing Committee member of the International conference on Emerging Technologies in E-commerce and Digital marketing — Opportunities and challenges.

Available on request

79, Second Main Road, Gandhinagar, Adyar, Chennai - 600020, Tamil Nadu, INDIA
Phone: 0091-44-24412589 24411574 24420204 24419771. Fax: 0091-44-24910872. E-mail: admin@mids.ac.in

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