Research Activities

Recently Completed Funded Projects

  • “Herself and her children: How worse off are they? Impact of COVID-19 in rural Bihar" (Project Code IND-20092): Zakir Husain, Mousumi Dutta, Saswata Ghosh (IDSK). Sanctioned by The International Growth center, London School of Economics: September 2020 - March 2021.

Research output: Policy brief; Final report

  • "Can peer and neighbourhood effects improve maternal health outcomes in rural Bihar? Assessing the role of formal and informal networks" (Project Code 18013): Mousumi Dutta, Zakir Husain and Saswata Ghosh (Health Specialist, Center for Health Policy, ADRI, Patna). Sanctioned by The India Growth Center, London School of Economics: March 2019 - February 2021.

Research output: Policy brief ; Video ; Final report

The faculty of the Economics department, Presidency University engages in cutting edge research in education, gender, health, poverty, social network, and financial economics. The Department collaborates with other institutes like Leeds University Business School, Queen Mary University of London, All India Institute of Medical Sciences, Tata Medical Center Kolkata, Indian Statistical Institute Kolkata, Indian Statistical Institute Delhi, Indian Institute of Management Bangalore, Indian Institute of Technology Kharagpur, Institute of Development Studies Kolkata, etc.

Research by Economics Department, Presidency University in response to COVID-19


The COVID-19 pandemic poses formidable challenges to societies, economies and health systems in India. The Faculty and Research Scholars of the Department are undertaking formal investigations based on empirical evidence on economic, financial and social issues emanating from the outbreak of COVID -19.

The International Growth Centre, London School of Economics, UK funded study

"Herself and her children: How worse off are they? Impact of COVID-19 in rural Bihar" (Project Code IND-20092)

Zakir Husain, Mousumi Dutta, Saswata Ghosh (IDSK) & Kaushik Chaudhuri (Leeds University Business School). Sanctioned by The International Growth center, London School of Economics.

IGC Policy brief: IND_20092

IGC conference on impact of COVID-19 on health and well-being: Video

The study proposes to examine the impact of the national lock down following the outbreak of novel coronavirus (COVID-19) on dietary practices of women and their children in rural Bihar, financial status of household, and access to government schemes, and quantify the resultant change in their welfare.

COVID-19 has created a perfect storm for global malnutrition. The crisis is expected to adversely affect the nutritional status of households—particularly vulnerable groups like women, children and aged—through livelihood and income losses related to government-mandated shutdowns and de-globalization, freezing of food transfer schemes such as school feeding programs, supplementary nutrition programme implemented under Integrated Child Development Scheme, breakdown of food markets due to both demand shocks and supply constraints, and healthcare failures (as already strained healthcare systems are forced to divert resources from routine immunization, and a range of nutritionally important functions—like antenatal care, micronutrient supplementation, and prevention and treatment of childhood diarrhea, and acute malnutrition—toward combating COVID-19) [1]. Although the Central and State Governments have both announced several relief measures, media reports that implementation of such measures has been poor. Further, households with political links are often better able to access such programmes [2, 3, 4].

It is necessary, therefore, to undertake a study that will (i) examine the extent to which COVID-19 affects dietary practices of women and children; (ii) assess whether households are able to access Government programmes aiming to mitigate such adverse effects; (iii) Quantify the resultant change in welfare using the concept of compensating variation [5]; and, (iv) Examine whether political connections of household members improves access to government schemes, thereby reducing welfare losses. Given that COVID-19 is projected to remain for the next two years, recurring in repetitive waves [6, 7], and that current relief measures have implementation and leakage related issues [8, 9, 10, 11], this knowledge should be useful in designing bail out measures to ensure better targeting of relief measures directed to ensure food security, reduce leakages, and make such policies more inclusive. Further, the results of this study should also help to improve service delivery to vulnerable sections in general and in the context of disasters.

The proposed study will build further knowledge based on an IGC commissioned project (Project Code: 18013) that we are currently undertaking in six districts of Bihar (Begusarai, Katiahar, Muzzaffarpur, Nalanda, Purva Champaran, and Saharsha). Our ongoing study analyses, inter alia, dietary practices of mothers and children aged below three years; it also examines variations of such practices between members of Self-Help Groups (SHGs) formed under JEEViKA (World Bank funded scheme for socio-economic empowerment of the rural poor) and non-SHG members. We propose to undertake telephonic interviews of 1,200 randomly selected respondents out of the 2,276 respondents for whom data has been collected, using multi-stage stratified random sampling method, in the ongoing study. Additional information will be collected on change in financial status, change in dietary practices, access to Government support schemes, and political links of family members.

We will investigate, using probit and ordered probit models, whether impact on dietary practices, change in financial status, and access to government schemes depend upon socio-economic characteristics and political links of households. We will also estimate time cost to avail relief measures. This will enable us to estimate change in welfare of respondents using the concept of compensating variation, and identify the characteristics of households witnessing reduction in welfare.

Funding: £10,720.

Duration: August 2020 - January 2021

Video: The Impact of COVID-19 in India and pathways to recovery, organised by IGC, 5-7 May 2021

Press coverage: Dainik Jagaran, dated 8th May 2021


"Time use survey during COVID-19 in India"

Subhro Sarkar (IGIDR); Shamim S. Mondol (NMIMS); Rajendra P. Kundu (JNU), Prithiviraj Guha (Presidency University) ongoing.

This study attempts to understand the usage of time by members of a section of Indian households. As the lockdown implemented created a situation where members stayed home while services of domestic helps were not available, work in household usually performed by such domestic helps needed to be distributed among the members out of necessity. In addition, certain household members needed to work from home, generating additional demands on their time. Finally, school-going children could not also be sent to school, which necessitated caring for them, and in case schools conducted online video lectures, supervision of children. This creates a situation where intra-household division of labour among members of household, and variation between households in equitable distribution of such allocation of household labour can be studied by way of a time-use survey. We propose a longitudinal design to conduct an online time-use survey while the lockdown is in place, revisit the participating households once the lockdown is over to understand the intra-household division of labour in a normal setting and compare the allocations under the two settings. We intend to propose policies that will enable institutions to mitigate the hardships of Indian households based on the findings of the study

"Anxiety, depression and stress: Impact of COVID-19 on mental health of adults & youths in India"

Mousumi Dutta & Zakir Husain (Presidency University), Kaushik Chaudhuri and Anindita Chakrabarti (Leeds University Business School), Saswata Ghosh (Institute of Development Studies Kolkata)

The study proposes to examine the impact of the national lock down following the outbreak of novel coronavirus (COVID-19) on mental health of adults and youths in metropolitan cities of India. The metropolitan cities are Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, and Mumbai. It proposes to estimate the proportion of respondents suffering from mental health problems, the level of such problems, and identify the risk factors associated with mental health.

Zakir Husain (2020) "National Lockdown and COVID-19 Containment in India" (with Arup Das, LEHS, New Delhi & Saswata Ghosh, IDSK) doi: https://doi.org/10.1101/2020.05.27.20115329

Published in Economic and Political Weekly, LVI(39) 25 September 2021: 36-42.

Background & objectives: The spread of COVID19 in India has posed a major challenge for policy makers. Policy response in form of imposition of a prolonged national lockdown has imposed substantial costs on the entire population. But the extent to which it has contained the spread of the epidemic needs to be assessed. Methods: We use an Interrupted Time Series model to assess the success of lockdowns in containing COVID-19. In the second step, we use four variants of the SIR models to develop a counterfactual- what would have happened without the lockdown. These results are compared with actual data. The analysis is undertaken for India, and Maharashtra, Gujarat, Delhi, and Tamil Nadu. Results: Lockdown has reduced the number of COVID-19 cases by 23.65 to 337.73 lakh in Class I cities and towns, where COVID has mainly spread. It has averted about 0.01 to 0.10 lakh deaths. At the regional level, however, lockdown has averted a health crisis as existing ICU and ventilator facilities for critically ill patients would have been inadequate. Interpretation & conclusions: Overall, the results for three of the four models reveal that lockdown has a modest impact on spread of COVID-19; the health infrastructure at the national level is not over strained, even at the peak. At the regional level, on the other hand, lockdowns may have been justified. However, given that identification of new cases is limited by levels of daily testing that are low even by Asian standards, analysis based upon official data may have limitations and result in flawed decisions.

For MedRxiv (Yale University and BMJ) working paper click here.

For Economic & Political Weekly click here.

Mousumi Dutta & Zakir Husain (2020) "Impact of national lockdown to contain COVID-19" doi: https://doi.org/10.1101/2020.07.07.20148338

On 24th March, 2020 the Government of India announced a national level lockdown to contain the spread of COVID. The lockdown policy has generated considerable controversy, with critics arguing that it was done without adequate notice or planning, exposed vulnerable section of the population to a humanitarian crisis, and failed to contain the spread of COVID. In response, the Government has claimed that lockdown slowed the transmission process of COVID, thereby reducing the number of cases and deaths substantially. The consequent pressure on the health infrastructure was also much less. To judge between competing claims, this study has undertaken the first cost-benefit analysis of the worlds biggest lockdown. Although the data for a proper cost-benefit analysis is currently not available, we have made a ball point estimate of the net benefit of the lockdown under alternative scenarios. Our estimates reveal the net benefits of lockdown to be negative; moreover, the results are robust under all scenarios.

For MedRxiv (Yale University and BMJ) paper click here, for Europe PMC link click here

"Hotspots of COVID-19 in India: Identifying risk factors"

Kaushik Chaudhuri (Leeds University Business School) and Zakir Husain (presidency University)

Using district-level data we apply spatial statistical methods to identify hotspots of COVID-19 and the associated risk factors.

Zakir Husain & Richa Kothari (2020) Lockdowns, Migrants and the Spatial Distribution of COVID-19 Cases in India: Consequences of a "tough and timely decision"

Published in Rajib Bhattacharyya, Ananya Ghosh Dastidar, Soumyen Sikdar (edited) The COVID-19 Pandemic, India and the World Economic and Social Policy Perspectives, Routledge, 2021, ISBN 9781032114965

This study analyses district level data released by the Ministry of Health and Family Welfare using spatial statistical methods to examine the association between Shramik trains and the spread of COVID in India.

On 24th March, 2020, the Prime Minister announced a national lockdown to combat the spread of COVID in India. The adoption of such an extreme step, without careful planning, resulted in, inter alia, a humanitarian crisis. Lakhs of migrant workers were stranded in their places of work— exposed to COVID, and without work or income or access to the Public Distribution System. Their long march back to their homes was initially ignored; it was only from May that the Indian Railways started to transport these workers back to their states of origin. This study argues that— in the absence of adequate health screening at both source and destination, over-crowding, insanitary conditions in the train, and failure to run trains on schedule— the Shramik trains resulted in COVID spreading from existing hotspots like Maharashtra and Gujarat, to create new epicenters in states like West Bengal, Bihar, Orissa, Chattisgrah, and Assam from where the migrant workers had originated; further, these labourers were branded as being carriers of COVID into districts, changing the dynamics of COVID transmission.

Watch video of study

Gagari Chakrabarti, Webinar on "COVID-19 and financial markets" at Presidency University and Konnagar College: for video click here

Risk-Resilience Analysis of Green Stocks using Time-Varying Beta

Joint study by Gagari Chakrabarti and Chitrakalpa Sen (O.P. Jindal Global University, Haryana)

We explore the nature of time-varying market risk of investment in green stocks in US, Europe, and Asia-Pacific region during 2007-2020. Such exploration is crucial given the need to accelerate green investment to have a resilient, inclusive, and sustainable world, particularly in the post-pandemic era. While examining resilience of green stocks in crises, we explore channels through which shocks transmit to escalate market risks. Transmission channels may be exogenous, located in local and/or global markets. Alternatively, market risk may be chaotic making its volatility endogenous to the system. The defensive green stocks exhibited remarkable resilience during crises. While local transmission channels exist for the US and European greens, they are insulated from global market fluctuations. Although the Asia-Pacific greens are relatively vulnerable, investment worthiness of greens may still be established. Skepticism, however, remains. With chaotic market risks, reversal in investment optimism is frequent. Green stocks are safe, but only apparently.

Crises and Time-varying market risk of Indian Green stocks: A Discrete Threshold Regression Approach

Joint study by Gagari Chakrabarti and Chitrakalpa Sen (O.P. Jindal Global University, Haryana)

Using a Discrete Threshold Regression Approach, the study explores the resilience of Indian green stocks during crises, including the recent pandemic. It explores whether risk spills over from other markets, particularly during crisis, so as to escalate the market risk of green stocks. This would bear significant implications for the risk avert investors. Further, it might jeopardize the global objective to build up a more resilient and sustainable world in the post-pandemic era.

Regime switching dynamic risk of Indian stock market

Gagari Chakrabarti

The study explores the dynamics of time-varying currency exposure of the Indian Stock market. Using Markov Switching Model and Discrete Threshold Regression, it inquires whether and how such exposures get affected by the movements in the stock market and the foreign exchange market across regimes. How do the crises, including the recent pandemic, affect such relationships? What implications do this bear for the risk avert investors?

Other research studies

The faculty is engaged in research on economics of cancer treatment, maternal and child health, financial economics, poverty, environment, education, social networks, gender, etc.

"Can peer and neighbourhood effects improve maternal health outcomes in rural Bihar? Assessing the role of formal and informal networks" (Project Code 18013)

Mousumi Dutta, Zakir Husain and Saswata Ghosh (IDSK)

Our study examines whether social networks, particularly links existing between members of formal institutions (like micro-credit and Self Help Groups bodies formed by organizations like JEEViKA) can be used to disseminate knowledge about best practices in maternal health seeking behaviour, leading to behavioural change. The research questions of the proposed study are: [1] Do social networks improve maternal health outcomes? [2] What are the attributes of social networks that lead to better health outcomes? [3] What is the mechanism through which social networks modify decision-making and behaviour? Experience with public health interventions has demonstrated that changing the knowledge, attitudes, and practices of target population groups is possible. However, research has also shown that such effects are typically modest and short-lived. We argue that the network-based strategy to improve MCH outcomes may have more long lasting effects and be replicable.

For detailed Proposal, click here.

Funding authority: The India Growth Center, London School of Economics, UK

Funds: £52,089

Duration: March 2019 - January 2021.

Linguistic identity and reproductive behaviour

Joint study by Pallabi Das (IIT Kharagpur), Zakir Husain (Presidency University), and Dr. Inder Sekhar Yadav (IIT Kharagpur)

The study examines the influence of culture on reproductive behavior, focusing on the Bengali community. It starts with comparison of age at first marriage and consummation of marriage between Bengali and Hindi speaking women. The second issue examined is the reliance of Bengali speaking women on behavioral contraception methods. The study closes with an analysis of the dissipation of cultural influences across borders, discussing the similarity of fertility behavior and contraception choice between women of West Bengal and Bangladesh.

Selections from the study have been published in Asian Population Studies (16(1): 34-60 ), and in S. Ghosh & A. Chatterjee (ed), Population dynamics in Eastern India and Bangladesh, Springer Nature,Singapore: 49-69

Video on Curious reliance of Bengali speaking women on behavioral methods

Ms. Pallabi Das has been awarded her Ph.D. from Indian Institute of Technology Kharagpur in 2021 for this work.

South Asian Breast Cancer Risk Prediction, Genetic testing and Health Management (SURAKSHA)

Group led by Prof. Usha Menon (University College of London, UK), Prof. Ranjit Manchanda (Barts Cancer Institute, Queen Mary University of London, UK), Prof. S. V. S. Deo (All India Institute of Medical Science, New Delhi), and Dr. Nitya Wadhwa (Clinical Development Services Agency).

Prof. Zakir Husain (Professor, Economics, Presidency University) is a member of this group.

The goal is to improve identification of Indian women at increased breast cancer-risk who can benefit from affordable and effective early detection/prevention interventions. We will:

  • Validate and identify key breast cancer risk factors and customise ‘the ‘BOADICEA-V.5’ BC-risk prediction-algorithm

  • Adapt “CANRISK” interface-tool to facilitate Indian user-friendly data collection/risk-assessment and co-production of India-specific risk-communication tools

  • Assess the acceptability/satisfaction/psychological-wellbeing/uptake of screening and prevention options of unselected genetic testing/mainstreaming of breast cancer patients and cascade testing of relatives of women with clinically actionable mutations

  • Evaluate cost-effectiveness and identify affordable cost-thresholds/solutions for India

The study has received a Seed Funding grant under the Affordable Approaches to Cancer scheme of Department of Bio-Technology, GoI & Cancer Research United Kingdom (CRUK). The seed-funding grant has been awarded under the “Affordable Approaches to Cancer research initiative of DBT India and Cancer Research, UK, under the category - Identification and quantification of cancer risk factors to better understand regional variations in incidence, enabling new approaches to cancer prevention.

The seed fund enables collaboration between Indian and the UK teams to develop an understanding of research contexts and to establish research partnerships to address one of the seven research challenges, leading to the preparation of submitting a full application for Programme Award.

The complete announcement can be found on the DBT/WT India Alliance website.

Details of the study may be found here.

Preference for information sharing and participation in treatment decision making of children and adolescents with cancer, and their parents (PRISM)

Self-funded study, initiated: December, 2018.


Soumitra Sankar Datta, Sekhar Krishnan (TMC), Zakir Husain (Presidency University), Inder Sekhar Yadav, Trishna Chowdhury (IIT) and Samiran Panda (Director, National AIDS Research Center, ICMR, Pune)

The study examines the process of information sharing during treatment of cancer of adolescents. It is based on interviews of health care providers, parents of patients, and patients in Tata Medical Center, Kolkata.

Output: Paper "Information sharing experiences of professionals looking after children with cancer: A qualitative exploration from a specialist paediatric oncology unit in India " has been accepted in a special issue of ecancermedicalscience, publication expected in mid-2022.

Social and biological environment and its impact on educational attainments

Joint study by Kausik Chaudhuri (Leeds University Business School), Mousumi Dutta & Zakir Husain started on June 2019. Using IHDS data we seek to examine (i) the impact of marital instability on educational outcomes of children (ii) early nutritional status of children and educational outcomes.

Dynamics of Time Varying Exchange Rate Exposure on Indian Industries: A Markov Switching Approach

Joint study by Gagari Chakrabarti, Sankarshan Basu (IIM, Bangalore) and Soumya Saha (Vivekananda Mission Mahavidyalaya)

The study has been initiated in July, 2019. It explores the dynamics of time varying exchange rate exposure using a Markov Switching Model. It inquires how such exposure varies across Indian industries and what implications could it bear for the risk averse investors.

Emotional disengagement and employee turnover: An Applied Study

Joint study by Gagari Chakrabarti and Dr. Tapas Chatterjea

The study explores the factors behind employee turnover. It is based on primary survey that has been initiated in March, 2020.

Stability of Indian Banking System: A Dynamic Panel Approach

Joint study by Gagari Chakrabarti and Sreyashi Datta

The study explores the determinants of stability of Indian public and private banks over a period of twenty years. It uses ulcer index as a proxy for risk and explores the role of different indicators of bank performances in determining it.