List of Publications by Mohsin S. Khan

Director, Middle East and Central Asia Department

August 05, 2013


Books

Growth-Oriented Adjustment Programs (edited) with V. Corbo and M. Goldstein (IMF, Washington, D.C.), 1987.

Theoretical Studies in Islamic Banking and Finance (edited) with A. Mirakhor (Institute for Research and Islamic Studies, Houston, Texas), 1987.

Macroeconomic Models for Adjustment in Developing Countries (edited) with P. Montiel and N. Haque (IMF, Washington, D.C.), 1991.

Trade Reforms and Regional Integration in Africa (edited) with Z. Iqbal, (IMF, Washington, D.C.), 1998.

External Debt and Capital Flight in Sub-Saharan Africa (edited) with I. Ajayi (IMF, Washington, D.C.), 2000.

Macroeconomic Management: Programs and Policies (edited) with S. Nsouli and C-H. Wong (IMF, Washington, D.C.), 2002.

Economic Development in South Asia (Tata Mc Graw-Hill: New Delhi), 2005.

Articles

"The Common Market Questionnaire, October 1971" (with H.G. Johnson), Economica, August 1972.

"The Secular Behavior of Velocity Within the Context of the Inventory-Theoretic Model of Demand for Money," Manchester School, June 1973.

"The Effect of Growth on the Balance of Payments in Developing Countries: An Empirical Note," Pakistan Economic and Social Review, Autumn 1973.

"The Demand for Money in Austria" (with E. Spitaeller), Quartalshefte Girozentrale, January 1974.

"Experiments with a Monetary Model for the Venezuelan Economy," IMF Staff Papers, July 1974.

"Import and Export Demand in Developing Countries," IMF Staff Papers, November 1974.

"The Stability of the Demand for Money Function in the United States,1901-65," Journal of Political Economy, November/December 1974.

"Real Money Balances as a Factor of Production: A Comment" (with P. Kouri), Review of Economics and Statistics, May 1975.

"The Structure and Behavior of Imports of Venezuela," Review of Economics and Statistics, May 1975.

"The Monetary Dynamics of Hyperinflation: A Note," Journal of Monetary Economics, May 1975.

"Cyclical and Secular Income Elasticities of the Demand for Imports" (with K. Ross), Review of Economics and Statistics, August 1975.

"Large versus Small Price Changes and the Demand for Imports" (with M. Goldstein), IMF Staff Papers, March 1976.

"A Monetary Model of Balance of Payments Adjustment: The Case of Venezuela," Journal of Monetary Economics, July 1976.

"The Monetary Approach to Balance of Payments Determination: An Empirical Test" (with B. Aghevli), in IMF, The Monetary Approach to Balance of Payments, 1977.

"The Determination of the Balance of Payments and Income in Developing Countries" in IMF, The Monetary Approach to Balance of Payments, 1977.

"The Monetary Dynamics of Hyperinflation: A Reply," Journal of Monetary Economics, January 1977.

"The Functional Form of the Aggregate Import Equation" (with K. Ross), Journal of International Economics, May 1977.

"Inflationary Finance and the Dynamics of Inflation: Indonesia 1954-1972" (with B. Aghevli), American Economic Review, June 1977.

"The Variability of Expectations in Hyperinflations," Journal of Political Economy, August 1977.

"Variable Expectations and the Demand for Money in High-Inflation Countries," Manchester School, September 1977. Reprinted in W. Coats and D.R. Khatkhate (eds.), Readings on Money and Monetary Policy in Less Developed Countries (Pergamon Press, Oxford), 1980.

"The Relative Stability of Velocity and the Investment Multiplier: Some Further Tests," Journal of Monetary Economics, January 1978.

"The Supply and Demand for Exports: A Simultaneous Approach" (with M. Goldstein), Review of Economics and Statistics, May 1978.

"Government Deficits and the Inflationary Process in Developing Countries" (with B. Aghevli), IMF Staff Papers, September 1978. Reprinted in W. Coats and D.R. Khatkhate (eds.), Readings on Money and Monetary Policy in Less Developed Countries (Pergamon Press, Oxford), 1980.

"The Demand for International Reserves under Fixed and Floating Exchange Rates" (with H.R. Heller), IMF Staff Papers, December 1978.

"The Demand for Money and the Term Structure of Interest Rates" (with H.R. Heller), Journal of Political Economy, February 1979.

"The Relationship between Money, Income and Prices: Has Money Mattered Historically?" (with A. Brillembourg), Journal of Money, Credit and Banking, August 1979.

"Inflation and International Reserves: A Time Series Analysis," IMF Staff Papers, December 1979.

"Monetary Policy in Selected Asian Countries" (with B. Aghevli, P.R. Narvekar, and B. Short), IMF Staff Papers, December 1979.

"Prices of Tradable and Nontradable Goods in the Demand for Total Imports" (with M. Goldstein and L. H. Officer), Review of Economics and Statistics, May 1980.

"Credit Policy and the Balance of Payments in Developing Countries" (with B. Aghevli), in W. Coats and D.R. Khatkhate (eds.) Readings on Money and Monetary Policy in Less Developed Countries (Pergamon Press, Oxford), 1980.

"Monetary Shocks and the Dynamics of Inflation," IMF Staff Papers, June 1980.

"Dynamic Stability in the Cagan Model of Hyperinflation," International Economic Review, October 1980.

The Dynamics of Money and Prices and the Role of Monetary Policy in SEACEN Countries, SEACEN Occasional Papers No. 1, December 1980.

"Foreign Exchange Market Regularities in a Developing Economy" (with M. Blejer), Economic Letters 6, 1980.

"The Term Structure of Interest Rates in Money Demand Models: A Further Analysis," Economic Letters 6, 1980.

"Stabilization Programs in Developing Countries: A Formal Framework" (with M. Knight), IMF Staff Papers, March 1981.

"The Dynamics of Money Demand and Monetary Policy in Singapore," in Papers on Monetary Economics, Monetary Authority of Singapore, 1981.

"Unanticipated Monetary Growth and Inflationary Finance" (with M. Knight), Journal of Money, Credit and Banking, August 1982.

Effects of Slowdown in Industrial Countries on Growth in Non-Oil Developing Countries (with M. Goldstein), IMF Occasional Paper No. 12, August 1982.

"Some Theoretical and Empirical Issues Relating to Economic Stabilization in Developing Countries" (with M. Knight), World Development, September 1982.

"The Foreign Exchange Market in a Highly-Open Developing Economy: The Case of Singapore" (with M. Blejer), Journal of Development Economics, February 1983.

"Estimating Models of Expectations: A Simplified Sequential Approach," Economic Letters, 1983.

"The Macroeconomic Effects of Changes in Barriers to Trade and Capital Flows: A Simulation Analysis" (with R. Zahler), IMF Staff Papers, June 1983.

"Determinants of the Current Account Balances of Non-Oil Developing Countries in the 1970s: An Empirical Analysis" (with M. Knight), IMF Staff Papers, December 1983.

"Sources of Payments Problems in LDCs" (with M. Knight), Finance & Development, December 1983.

"Government Policy and Private Investment in Developing Countries" (with M. Blejer), IMF Staff Papers, June 1984.

"Private Investment in Developing Countries" (with M. Blejer), Finance & Development, June 1984.

"Income and Price Effects in Foreign Trade" (with M. Goldstein), in P. B. Kenen and R. W. Jones (eds.), Handbook of International Economics, 1985.

"Trade and Financial Liberalization in the Context of External Shocks and Inconsistent Domestic Policies" (with R. Zahler), IMF Staff Papers, March 1985.

"Interest Rates in Developing Countries: The Role of Foreign and Domestic Factors" (with S. Edwards), Finance & Development, June 1985.

"Public Investment and Crowding Out in the Caribbean Basin Countries" (with M. Blejer), in M. Connolly and J. McDermott (eds.), The Economics of the Caribbean Basin (Praeger, New York), 1985.

"An Analytical Approach to Interest Rate Determination in Developing Countries," Pakistan Development Review, Autumn-Winter 1985.

"The Determination of Interest Rates in Developing Countries: A Conceptual Framework" (with S. Edwards), IMF Staff Papers, September 1985.

Fund-Supported Adjustment Programs and Economic Growth (with M. D. Knight), IMF Occasional Paper No. 41, 1985.

"Foreign Borrowing and Capital Flight: A Formal Analysis" (with N. Ul Haque), IMF Staff Papers, December 1985.

"Islamic Interest-Free Banking: A Theoretical Analysis," IMF Staff Papers, March 1986.

"Developing Country Exchange Rate Policy Responses to Exogenous Shocks," American Economic Review, May 1986.

"Exchange Rate Policies of Developing Countries in the Context of External Shocks," Pakistan Development Review, Autumn 1986.

"The Framework and Practice of Islamic Banking" (with A. Mirakhor), Finance & Development, September 1986.

"Currency Substitution and Government Revenue from Inflation" (with L. Ramirez-Rojas), Analisis Economico, November 1986.

"Devaluation, Fiscal Deficits, and the Real Exchange Rate" (with J.S. Lizondo), World Bank Economic Review, January 1987.

"Macroeconomic Adjustment in Developing Countries: A Policy Perspective," VPERS Policy Discussion Paper, The World Bank, August 1986; World Bank Research Observer, January 1987.

"Capital Flight from Developing Countries" (with N. Haque), Finance & Development, March 1987.

"The Liberalization of Trade and Capital Flows in Developing Countries: Some Theoretical and Empirical Issues" (with R. Zahler), in M. Connolly and C. Gonzalez-Vega (eds.), Economic Reform and Stabilization in Latin America (Praeger, New York), 1987.

"Stabilization and Economic Growth in Developing Countries," paper presented at the Pakistan Society of Development Economists Meeting, Islamabad, August 1987; Pakistan Development Review, Autumn 1987.

"Real Exchange Rate Dynamics in a Small Primary-Exporting Country" (with P. Montiel), IMF Staff Papers, December 1987.

"Import Compression and Export Performance in Developing Countries" (with M. Knight), Review of Economics and Statistics, May 1988.

"The Financial System and Monetary Policy in an Islamic Economy" (with A. Mirakhor), Journal of King Abdulaziz University: Islamic Economics, 1989.

"Capital Flight from Pakistan," Pakistan and Gulf Economist, January l989.

"Growth-Oriented Adjustment Programs: A Conceptual Framework" (with P. Montiel), IMF Staff Papers, June 1989.

"Islamic Banking: Experiences in the Islamic Republic of Iran and Pakistan" (with A. Mirakhor), Economic Development and Cultural Change, January l990.

"Private Investment and Economic Growth in Developing Countries" (with C. Reinhart), World Development, January l990.

"Adjustment with Growth: Relating the Analytical Approaches of the World Bank and the IMF" (with P. Montiel and N. Haque), VPERS Policy Discussion Paper, The World Bank, October 1986, Journal of Development Economics, January 1990.

The African Debt Crisis (with J. Greene), African Economic Research Consortium, Nairobi, Special Paper No. 3, February 1990.

"A Marriage between Fund and Bank Models? Reply to Polak" (with P. Montiel), IMF Staff Papers, March 1990.

"The Macroeconomic Effects of Fund-Supported Adjustment Programs: An Empirical Assessment," IMF Staff Papers, June l990. Excerpted in L. J. McQuillan and P.C. Montgomery (eds.), The International Monetary Fund: Financial Medic to the World (Hoover Institution Press, Stanford, California), 1999.

"Adjustment Policies and Economic Development" (with J. Frenkel), paper presented at the AEA Meetings, Atlanta, December 28-30, l989; Journal of the American Agricultural Economics Association, August 1990.

"Evaluating the Effects of IMF-Supported Adjustment Programs: A Survey," in K. Phylaktis and M. Pradhan (eds.), International Finance and the Less Developed Countries (MacMillan, London), l990.

"Islamic Banking at the Crossroads," Arab Banking & Finance, 1991.

Exchange Rate Policy in Developing Countries: Some Analytical Issues (with B. Aghevli and P. Montiel), IMF Occasional Paper No. 78, March 1991.

Macroeconomic Policies and Medium-Term Growth (with D. Villanueva), African Economic Research Consortium, Nairobi, Special Paper No.13, May 1991.

The Romanian Economic Reform Program (with D. Demekas), IMF Occasional Paper No. 89, December l991.

"Major Themes in the Writings of Jacques J. Polak" (with J. Frenkel and M. Goldstein), in J. A. Frenkel and M. Goldstein (eds.), International Financial Policy: Essays in Honor of Jacques J. Polak (IMF, Washington, D.C.), 1991.

"Islamic Banking" (with A. Mirakhor), in the New Palgrave Dictionary of Money and Finance (Macmillan, London), 1992.

"Financial Sector Reforms and Monetary Policy" (with V. Sundararajan), in V. A. Jaffrey (ed.), Structural Adjustment and Macroeconomic Policy Issues (IMF, Washington, D.C.), 1992.

"Real Exchange Rate Responses to External and Policy Shocks" (with J. Ostry), World Development, September 1992.

"Adjustment Policies of the International Monetary Fund and Long-Run Economic Development" (with J. A. Frenkel), Bangladesh Development Studies, Special Issue, June-September, 1992.

"Macroeconomic Balances," in W. E. James and S. Roy (eds.), Foundations of Pakistan's Political Economy (Sage, New Delhi), 1992.

"Islam and the Economic System" (with A. Mirakhor), paper prepared for the Fundamentalism Project, American Academy of Arts and Sciences, Chicago, April l990; Review of Islamic Economics,Vol. II, No. 1, 1992.

"Inter-Enterprise Arrears in Transforming Economics: The Case of Romania"(with E. Clifton), IMF Staff Papers, September 1993.

The Behavior of Non-Oil Commodity Prices (with E. Borensztein, C. Reinhart, and P. Wickham), IMF Occasional Paper No. 112, August 1994.

"Monetary Management in an Islamic Economy" (with A. Mirakhor), Journal of King Abdulaziz University, Islamic Economics, 1994.

"Macroeconomic Management in APEC Economies: The Response to Capital Inflows" (with C. Reinhart), in M. S. Khan and C. R. Reinhart (eds.), Capital Inflows in the APEC Region, IMF Occasional Paper No. 122, March 1995.

"Central Banking in an Islamic Economy," in Bank Indonesia, Proceedings of the 9th Expert-Level Conference on Islamic Banking (Jakarta, Indonesia), April 1995.

"Agricultural Performance in Sub-Saharan African Countries and China" (with M. H. Khan), IMF Survey, July 1995; Pakistan Development Review, Winter 1995.

"Recent Developments in International Financial Markets," Asian Development Review, Vol. 13, No. 1, 1995.

"Early Contributions of Staff Papers to International Economics" (with M. Blejer and P. Masson), IMF Staff Papers, December 1995.

"The Implications of International Capital Flows for Macroeconomic and Financial Policies: Introduction" (with D. Mathieson), International Journal of Finance and Economics, July 1996.

"Foreign Currency Deposits and the Demand for Money in Developing Countries" (with R. Agenor), Journal of Development Economics, July 1996.

"Islamic Banking: Current State and Future Challenges," Arab Banking & Finance, 1996.

"Government Investment and Economic Growth in the Developing World," presented at the 12th Annual General Meeting of the Pakistan Society of Development Economists, Islamabad, Pakistan, December 14-16, 1996, Pakistan Development Review, Winter 1996.

"Public and Private Investment and the Convergence of Per Capita Incomes in Developing Countries" (with M. Kumar), Oxford Bulletin of Economics and Statistics, February 1997.

"Public Investment and the Growth Process in Developing Countries" (with M. Kumar), Journal of Public Budgeting, Accounting and Financial Management, Fall 1997.

"Why is China Growing So Fast?" (with Z. Hu), IMF Staff Papers, March 1997.

"Africa: Is This the Turning Point?" (with S. Fischer and E. Hernandez-Catá), IMF Survey, July 1998 (PDF file 394 kb).

"Capital Flows to Developing Countries: Blessing or Curse?" paper presented at the 14th Annual Meeting of the Pakistan Society of Development Economists, Islamabad, Pakistan, January 28-31, 1998; Pakistan Development Review, Winter 1998.

"Monetary Regimes and Inflation Targeting" (with E. Croce), Finance & Development, September 2000.

"Threshold Effects in the Relationship between Inflation and Growth" (with A. Senhadji), IMF Staff Papers, Vol. 48, No. 1, 2001.

"Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence" (with N. Haque), in M. S. Khan, S. Nsouli, and C. H. Wong (eds.), Macroeconomic Management: Programs and Policies (IMF, Washington D.C.), 2002.

"Reconciling Conditionality and Country Ownership of Programs," (with S. Sharma), Finance & Development, June 2002.

"The Exchange Rate and Consumer Prices in Pakistan: Is Rupee Devaluation Inflationary?" (with E. Choudhri), Pakistan Development Review, Summer 2002.

"New Issues in Bank Regulation," Quaid-i-Azam Memorial Lecture, 19th Annual Meeting of the Pakistan Society of Development Economists, Islamabad, Pakistan, January 13-15, 2003; Pakistan Development Review, Winter 2002.

"Sources of Economic Growth in East Asia: A Nonparametric Assessment," (with S. Iwata and H. Murao), IMF Working Paper 02/13, January 2002; IMF Staff Papers, 2003.

"Patterns of Capital Flows to Emerging Markets: A Theoretical Perspective" (with Z. Chen), in Dilip Das (ed.), An International Finance Reader (Routledge, New York), 2003.

"Current Issues in the Design and Conduct of Monetary Policy," Inaugural Address at the IGIDR/RBI Fifth Annual Conference on Money and Finance in the Indian Economy, Mumbai, January 30, 2003; IMF Working Paper 03/56, March 2003; in Commonwealth Banking Reference Book 2003.

"IMF Conditionality and Country Ownership of Programs" (with S. Sharma), IMF Working Paper 01/142, August 2001; World Bank Research Observer, Fall 2003.

"Financial Development and Economic Growth: An Overview" (with A. Senhadji), paper presented at the African Economic Research Consortium Meeting, Nairobi, Kenya, December 3, 2000; Journal of African Economies, 2003.

"Banking Reforms: An International Perspective," in Romania: Ten Years of Banking Reforms, National Bank of Romania, 2004.

"Accelerating Growth in GCC Countries: An IMF Perspective," in 2004 GCC Summit Handbook, 2004.

"Real Exchange Rates in Developing Countries: Are Balassa-Samuelson Effects Present?" (with E. Choudhri), IMF Working Paper 04/188, October 2004; IMF Staff Papers, Vol. 52, No. 3, 2005.

"Inflation and Financial Depth" (with A. Senhadji and B. Smith), IMF Working Paper 01/44, February 2001; Macroeconomic Dynamics, 2006.

"Inflation in Pakistan: Money or Wheat?" (with A. Schimmelpfennig), paper presented at the State Bank of Pakistan conference on Monetary-Cum Exchange Rate Regime, Karachi, Pakistan, November 14-15, 2005; Working Paper 06/60, March 2006; SBP-Research Bulletin Conference Volume, 2006.

"The Rise and Fall of GCC Stock Markets," in 2006 GCC Summit Handbook, 2006.

"Human Capital and Economic Growth in Pakistan," paper presented at the 21st Annual General Meeting of the Pakistan Society of Development Economists, Islamabad, Pakistan, December 19-21, 2005; Pakistan Development Review, 2006.

"Inflation in Pakistan," (with A. Schimmelpfennig), Pakistan Development Review, Summer, 2006.

Comments and Book Reviews

"Comment on 'Policy Interdependence from a Latin American Perspective' by Ricardo Arriazu," IMF Staff Papers, March 1983.

"Comment on 'On Tariffs and Optimal Taxation Policy in Developing Countries' by G. Floystad," Pakistan Development Review, Autumn-Winter 1985.

"Comment on 'Economic Adjustment and the Real Exchange Rate' by Arnold Harberger," in S. Edwards and L. Ahamad (eds.), Economic Adjustment and Exchange Rates in Developing Countries (NBER, Chicago), 1986.

"Comment on 'A Rational Expectations Macro-Econometric Model of Pakistan's Monetary Policy since 1970s' by M. Aynul Hasan," Pakistan Development Review, Winter 1987.

"Comment on 'How Integrated are World Capital Markets? Some New Tests,' by M. Obstfeld," in G. Calvo, R. Findlay, P. Kouri, and I. de Macedo (eds.), Debt, Stabilization and Development (Blackwell, Oxford), 1989.

"Comment on 'Future Financing Needs and Constraints on Scope for Action' by I. Husain and S. Mitra," in I. Husain and I. Diwan (eds.), Dealing with the Debt Crisis (World Bank, Washington), l989.

"Review of Islamic Banking in Southeast Asia, edited by Mohammed Ariff," The Indonesian Quarterly, January 1990.

"Review of Real Exchange Rates, Devaluation, and Adjustment, by Sebastian Edwards," Journal of Economic Literature, August 1990.

"Comment on 'Capital Flows, Foreign Direct Investment, and Debt-Equity Swaps in Developing Countries' by Sebastian Edwards," in Horst Siebert (ed.), Capital Flows in the World Economy (Kiel Institute, Kiel), 1991.

"Comment on 'What Regional Initiatives Should be Taken to Meet the Capital Needs of Northeast Asia?' by Stanley Katz," in Economic and Regional Cooperation in Northeast Asia, Joint U.S.-Korea Academic Studies, Vol. 6, 1996.

"Comment on 'Trade and Investment Integration in Sub-Saharan Africa,' by William Lyakurwa," in Jan Joost Teunissen (ed.), Regionalism and the Global Economy: The Case of Africa (FONDAD, Netherlands), 1996.

"Review of India's Economic Reforms and Development: Essays for Manmohan Singh, edited by Isher Judge Ahluwalia and I.M.D. Little," Finance and Development, September 1998.

"Comment on 'Globalization: Threat or Opportunity?' by Paul Streeten," 14th Annual Meeting of the Pakistan Society of Development Economists, Islamabad, Pakistan, January 28-31, 1999; Pakistan Development Review, Winter 1998.

"Review of Economic Development in the Middle East, by Rodney Wilson," Journal of Islamic Studies, 1999.

"Evaluating IMF Programs: A Comment," in Peter B. Kenen and Alexander K. Swoboda (eds.), Reforming the International Monetary and Financial System (IMF, Washington D.C.), 2000.

"Accelerating Growth in GCC Countries: An IMF Perspective," in 2004 GCC Summit Handbook (London), 2004.

"Comment on 'Reforms, Productivity, and Efficiency in Banking: The Indian Experience' by Rakesh Mohan," paper presented at the 21st Annual General Meeting and Conference of the Pakistan Society of Development Economists, Islamabad, Pakistan, December 19-21, 2005; Pakistan Development Review, 2006.

"Review of Arab Economies in a Changing World, by Marcus Noland and Howard Pack," Journal of Economic Literature, June 2008, Forthcoming.

Unpublished Papers

"Taxing Agriculture in Pakistan" (with M. H. Khan), February 1998.

"Emerging Issues in Banking Regulation," (with R. Chami and S. Sharma), IMF Working Paper 03/101, May 2003.

"Inflation and Growth in MCD Countries," December 2005.

"The GCC Monetary Union: Choice of Exchange Rate Regime," paper presented at the seminar on the GCC Monetary Union, Dubai Council of Economic Affairs, Dubai, UAE, November 20-21, 2007.