CV

Current Positions

Associate Professor, Department of Economics, Faculty of Economics, Kasetsart University, February 2020-present

Head of Department, Department of Economics, Faculty of Economics, Kasetsart University, August 2025-present

Associate Editor, Asian Journal of Applied Economics (Formerly Applied Economics Journal), May 2014-present

Previous Positions

Assistant Professor, Department of Economics, Faculty of Economics, Kasetsart University, December 2015-February 2020.

Lecturer, Department of Economics, Faculty of Economics, Kasetsart University, August 2013-December 2015.

Associate Dean for Academic Affairs and Educational Development, Faculty of Economics, Kasetsart University, November 2021-July 2025.

Program Director, Bachelor of Economics Program (Special and English Programs), Department of Economics, Faculty of Economics, Kasetsart University, June 2022-December 2024.

Deputy Head of Department for Academic Affairs, Department of Economics, Faculty of Economics, Kasetsart University, March 2019-October 2021.

Education

Ph.D. in Economics, The Ohio State University, June 2012.

M.A. in Economics, The Ohio State University, March 2009.

Master of Economics, Chulalongkorn University, June 2005.

Bachelor of Economics, Second Class Honours, Chulalongkorn University, May 2003.

Dissertation

“Essays on Connected Lending, Misallocation, and Aggregate Productivity”

Dissertation Supervisor: Paul D. Evans

Areas of Specialization

Research: Macroeconomics, Economic Development, Finance

Teaching: Macroeconomics, Monetary Economics, Econometrics

Scholarships, Awards, and Honours

KU Outstanding Academic Personnel (Research in Social Sciences), 2019.

KU Research Star (Social Sciences and Humanities), 2014.

Japan-IMF Scholarship for Advanced Studies, 2007-2009.

Phi Kappa Phi, The Ohio State University, 2008.

UFJ Foundation Scholarship, 2004-2005.

Grants

Kasetsart University Research Grant, FY2015, FY2017, FY2018.

Research Grant from the Department of Economics at Kasetsart University, FY2015, FY2016, FY2017, FY2018, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024.

Publications

Peer-Reviewed Journal Articles

"Bribery and firm characteristics in Thailand," (with Piyaphan Changwatchai) International Journal of Economic Policy in Emerging Economies, Volume 20, Issue 3/4, 2024.

“Institutional Distance and Thai Outward Foreign Direct Investment ,” (with Piyaphan Changwatchai) International Journal of Monetary Economics and Finance, Volume 17, Issue 4, 2024.

“R&D and Productivity Spillovers from FDI: Evidence from the Thai Manufacturing Industry,” Montenegrin Journal of Economics, Volume 20, Issue 2, 2024.

“Cultural and institutional interaction effects on firm bribery,” (with Piyaphan Changwatchai) International Journal of Monetary Economics and Finance, Volume 17, Issue 2/3, 2024.

“The effect of institutional distance on foreign direct investment in Thailand,” (with Piyaphan Changwatchai) International Journal of Monetary Economics and Finance, Volume 17, Issue 2/3, 2024.

“Crony capitalism and stock returns during an election,” (with Piyaphan Changwatchai) Review of Integrative Business and Economics Research, Volume 13, Issue 3, 2024.

“FDI in Thailand under the COVID-19 pandemic,” (with Piyaphan Changwatchai) Review of Integrative Business and Economics Research, Volume 13, Issue 2, 2024.

“Political connections and stock returns: The case of 2019 Thai general election,” (with Piyaphan Changwatchai) ABAC Journal, Volume 44, Issue 1, 2024.

“Home-country R&D and productivity spillovers from FDI in Thailand,” Review of Integrative Business and Economics Research, Volume 13, Issue 1, 2024.

“Culture and bribe giving: Evidence from firm-level data,” (with Piyaphan Changwatchai) Research in International Business and Finance, Volume 64, 2023.

“Cultural distance and foreign direct investment stock in Thailand: Evidence from panel data,” (with Piyaphan Changwatchai) Economics & Sociology, Volume 13, Issue 4, 2020.

“Cultural distance and Thailand's foreign direct investment attractiveness,” (with Piyaphan Changwatchai) International Journal of Monetary Economics and Finance, Volume 13, Issue 3, 2020.

“Misallocation and manufacturing TFP in Thailand after the 1997 Asian financial crisis,” International Journal of Trade and Global Markets, Volume 13, Issue 1, 2020.

“Two-Sided Altruism and the Level of Development,” (with Manachaya Uruyos) Seoul Journal of Economics, Volume 32, Issue 2, 2019.

“Culture and corruption in bank lending revisited,” International Journal of Monetary Economics and Finance, Volume 11, Issue 4, 2018.

“Resource Misallocation in Thai Manufacturing Industries between 1996 and 2011,” International Journal of Economic Policy in Emerging Economies, Volume 11, Issue 4, 2018.

“Resource misallocation and rice productivity in Thailand,” Montenegrin Journal of Economics, Volume 14, Issue 2, 2018.

“Humane Orientation and Corruption in Bank Lending,” Economics & Sociology, Volume 10, Issue 4, 2017.

“Bank ownership and connected lending,” International Review of Economics & Finance, Volume 41, 2016.

“Connected Lending and Aggregate Productivity,” Economics & Sociology, Volume 8, Issue 3, 2015.

“Can shareholder rights protection reduce corruption in lending?” International Journal of Monetary Economics and Finance, Volume 8, Issue 2, 2015.

“Misallocation and manufacturing TFP in Thailand,” Asian-Pacific Economic Literature, Volume 28, Issue 2, November 2014.

“Connected lending and concentrated control,” Journal of Financial Stability, Volume 9, Issue 4, December 2013.

Textbook

Macroeconomics III, 2018.

Working and Research Papers

“Collectivism and Connected Lending,” PIER Discussion Paper No. 57, Puey Ungphakorn Institute for Economic Research, Bangkok, Thailand (2017).

“Experience with the ECU: Lessons for the Liquidity of the SDR,” unpublished manuscript, The International Monetary Fund, Washington, DC (2010).

Conference, Seminar, and Workshop Presentations

“Discouraged Borrowers in Thailand: Rational or Emotional?,” 2025 10th International Conference on Marketing, Business and Trade (ICMBT 2025), April 28, 2025.

“Firm Characteristics and Discouraged Borrowers in Thailand,” SIBR 2025 Tokyo Conference on Interdisciplinary Business & Economics Research, January 8, 2025.

“Abnormal Stock Returns in Thailand during Cabinet Appointment,” SIBR 2024 Osaka Conference on Interdisciplinary Business & Economics Research, July 4, 2024.

“The Effect of Crony Capitalism on Stock Returns during an Election,” SIBR 2023 Osaka Conference on Interdisciplinary Business & Economics Research, July 7, 2023.

“Home-Country R&D and Productivity Spillovers from FDI in Thailand,” SIBR 2023 Tokyo Conference on Interdisciplinary Business & Economics Research, January 5, 2023.

“Cultural and Institutional Interaction Effects on Firm Bribery,” SIBR 2022 Osaka Conference on Interdisciplinary Business & Economics Research, July 1, 2022.

“Bribery and Firm Characteristics in Thailand,” SIBR 2021 Osaka Conference on Interdisciplinary Business & Economics Research, July 1, 2021.

“Resource Misallocation in the Thai Manufacturing Sector in 2016,” SIBR 2020 Osaka Conference on Interdisciplinary Business & Economics Research, July 3, 2020.

“The Interaction Effect between Foreign Direct Investment and Research and Development on the Productivity of Thai Manufacturing Sector,” 7th International Academic Conference on Economics, Business, Engineering and Social Sciences, December 21, 2019.

“Cultural Distance and Foreign Direct Investment Stock in Thailand: Evidence from Panel Data,” WEAI 94th Annual Conference, July 1, 2019.

“Misallocation and Manufacturing TFP in Thailand after the 1997 Asian Financial Crisis,” SIBR 2019 Tokyo Conference on Interdisciplinary Business & Economics Research, January 10, 2019.

“The Effect of Resource Misallocation on the Productivity of Rice Farming in Thailand: Evidence from Household-Level Data,” ICFE 2018: 20th International Conference on Finance and Economics, June 3, 2018.

“Resource misallocation in Thai manufacturing sector after the Asian financial crisis,” International Academic Conference on Management, Economics and Marketing in Budapest 2018, March 16, 2018.

“Collectivism and Connected Lending” PIER Research Workshop 2017, July 22, 2017.

“Collectivism and Connected Lending,” Vienna 2017: IJAS International Conference for Business and Economics, June 26, 2017.

“Culture and Corruption in Bank Lending Revisited,” SIBR-RDINRRU 2017 Sydney Conference on Interdisciplinary Business & Economics Research, April 16, 2017.

“Examining the Relationship between Altruism and Social Security Expenditure,” 20th EBES Conference - Vienna, September 29, 2016.

“Re-Examining the Effects of Culture on Corruption in Bank Lending,” ICBTS 2016 International Business and Economics Research Conference in Tokyo, September 15, 2016.

“Changes in Resource Misallocation in Thai Manufacturing Industries,” Brown Bag Seminar, Department of Economics, Kasetsart University, July 27, 2016.

“Banks' Controlling Owners and Connected Lending,” Munich 2016: IJAS International Conference for Business and Economics, June 21, 2016.

“Resource Misallocation in Thai Manufacturing Industries between 1996 and 2011,” SIBR-RDINRRU 2015 Osaka Conference on Interdisciplinary Business & Economics Research, July 3, 2015.

“Trends of Resource Misallocation and Productivity in Thai Manufacturing Industries,” 15th EBES Conference - Lisbon, January 9, 2015.

“Misallocation and manufacturing TFP in Thailand,” Brown Bag Seminar, Department of Economics, Kasetsart University, December 3, 2014.

“Can Shareholder Rights Protection Reduce Corruption in Lending?,” SIBR-RDINRRU 2014 Hong Kong Conference on Interdisciplinary Business & Economics Research, September 28, 2014.

“Misallocation and Manufacturing Total Factor Productivity in Thailand,” 52nd Kasetsart University Annual Conference, February 7, 2014.

“Experience with the ECU: Lessons for the Liquidity of the SDR,” Department Workshop, Finance Department, The International Monetary Fund, September 16, 2010.

“Connected Lending and Concentrated Control,” Macro Workshop, Department of Economics, The Ohio State University, April 28, 2010.

“Private Tutoring and Economic Growth” (with Manachaya Uruyos), Invited Seminar, Faculty of Economics, Chulalongkorn University, November 23, 2005.

Other Professional Activities

Referee, International Review of Economics and Finance, 2018, 2024 (3), 2025.

Referee, Research in International Business and Finance, 2022, 2023, 2024 (4), 2025 (3).

Referee, Southeast Asian Journal of Economics, 2021, 2023, 2024(2), 2025(2).

Referee, Social Sciences & Humanities Open, 2024 (2), 2025.

Referee, Journal of Asian Economics, 2025.

Referee, Applied Economics, 2025.

Referee, Applied Economics Letters, 2025(2).

Referee, Kasetsart Journal of Social Sciences, 2017 (2), 2018 (4), 2019 (4), 2021 (3), 2023.

Referee, Frontiers in Political Science (Section: Comparative Governance), 2022.

Referee, Frontiers in Psychology (Section: Organizational Psychology), 2021.

Referee, Asia-Pacific Social Science Review, 2021.

Referee, China Economic Review, 2015, 2016.

Referee, Journal of Money, Credit and Banking, 2010, 2011 (2), 2012.

Technical Program Committee, 16th International Conference on E-business, Management and Economics, July 11-13, 2025.

Technical Program Committee, 15th International Conference on E-business, Management and Economics, July 19-21, 2024.

Technical Program Committee, 14th International Conference on E-business, Management and Economics, July 21-23, 2023.

Technical Program Committee, 13th International Conference on E-business, Management and Economics, July 16-18, 2022.

Technical Program Committee, 12th International Conference on E-business, Management and Economics, July 17-19, 2021.

Conference Scientific Committee, 7th International Academic Conference on Economics, Business, Engineering and Social Sciences, December 21-22, 2019.

Session Chair, 13th International Conference on E-business, Management and Economics, July 17, 2022.

Session Chair, 58th Kasetsart University Annual Conference, February 6, 2020.

Session Chair, 57th Kasetsart University Annual Conference, January 30, 2019.

Session Chair, 55th Kasetsart University Annual Conference, February 1, 2017.

Session Chair, SIBR 2023 Osaka Conference, July 7, 2023.

Session Chair, SIBR-RDINRRU 2015 Osaka Conference, July 3, 2015.

Session Chair, 15th EBES Conference - Lisbon, January 9, 2015.

Intern, The International Monetary Fund, July 2010-September 2010.

Graduate Teaching Associate, The Ohio State University, September 2009-June 2012.

Teaching Assistant, Chulalongkorn University, June 2004-March 2005.

Computer Skills

MATLAB, Fortran, Python, Stata, EViews

Ph.D. Student Advisory

Chiraporn Wongsaen, Advisor, 2022.

Parichat Tengsuwan, Co-Advisor, 2020.

Passarapa Tangkanjanapas, Co-Advisor, 2020.

Teaching Experience (-Spring 2012)

Instructor

Intermediate Macroeconomic Theory, Spring 2012.

Principles of Macroeconomics, Autumn 2010 and Winter 2012.

Teaching Assistant

Principles of Macroeconomics, Autumn 2011.

Principles of Microeconomics, Spring 2010 and Spring 2011.

Applied Regression and Correlation Analysis, Winter 2010.

Probability Theory (Graduate Course), Autumn 2009.

Macroeconomic Theory I, Second Semester 2004.

Introduction to Econometrics, First Semester 2004.

Advanced Macroeconomic Theory (Graduate Course), First Semester 2004.

Administrative Experience (-Spring 2012)

Organizer, Macro Workshop, Department of Economics, The Ohio State University, Spring 2011.

Administrative TA, Principles of Macroeconomics, The Ohio State University, Winter 2011.