Department of Economics
       University of Arkansas, Fayetteville

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Research Interests

Networks in Trade and Finance
Industrial Organization
Economic Development

International Trade


Google Scholar Research Profile

Working Papers

·         The Burden of Glory: Competing for Non-monetary Incentives in Rank-order Tournaments (Dowloadable PDF file) (with David Pastoriza and Jean-Francois Plante), June 2016.

·         StockMarket Synchronicity and the Global Trade Network: A Random Walk Approach (Downloadable PDF file) (with Javier Reyes and Amat Adarov), December 2009.

·         "Social Embeddedness and Economic Governance: A Small World Approach," (Downloadable PDF file) Mimeo, University of Arkansas, Revised Version September 2013.


Please note that the PDF file downloadable here of a published paper is the working-paper version.  You can obtain the final version from the journal.

Networks in Trade and Finance

·         Structure and Evolution of Global Cluster Networks: Evidence from the Aerospace Industry (Downloadable PDF file) (with Ekaterina Turkina and Ari Van Assche), Journal of Economic Geography. 16(6), November 2016.

·         Growth Networks (Downloadable PDF file) (with Javier Reyes, Josh McGee & Stuart Shirrell), Journal of Development Economics. 101, March 2013.

·         Financial Contagion on the International Trade Network,” (with Javier Reyes), Economic Inquiry, 48(4), October 2010.

·         The Architecture of Globalization: A Network Approach to International Economic Integration,” (with Javier Reyes), Journal of International Business Studies, 38(4), July 2007.

·         Trade Structure and Economic Growth,” (with Fabio Mendez and Javier Reyes), Journal of International Trade and Economic Development, 16(2), June 2007.

Business Groups and Networks in Economic Development

·         Friendship, not Altruism: An Economic Theory with Cross-Cultural Applications,” (with Amy Farmer), Forthcoming in Review of Social Economy.

·         "Diversification and Tunneling: Evidence from Indian Business Groups," (Downloadable PDF file) (with Jayati Sarkar).  Journal of Comparative Economics, 39(3), September 2011.

·         "Economic Progress, Social Regress?" (with Amy Farmer), Journal of Public Economic Theory, 9(3), August 2007.

·         "Connected Lending: Thailand Before the Financial Crisis," (Abstract) (with Chutatong Charumilind and Yupana Wiwatanakantang), Journal of Business, 79(1), January 2006.

·         "Business Groups, the Financial Market and Modernization," (Abstract) Economics of Transition. 11(4), November 2003.

·         "Contractual Governance, Business Groups and Transition," (Abstract) Economics of Transition. 10(2), June 2002. 

·         "Financially Interlinked Business Groups," (Abstract) (with Maitreesh Ghatak), Journal of Economics and Management Strategy, Vol. 10, No. 4. Winter 2001. 

·         "Endogenous Business Networks," (Abstract) Journal of Law, Economics and Organization, Volume 15, Issue 3. October 1999.

·         Guanxi versus the Market: Ethics and Efficiency’’ (with Steve Lovett and Lee Simmons), Journal of International Business Studies. Volume 30, No. 2, Summer 1999.

·         "Business Networks in Transition Economies: Norms, Contracts and Legal Institutions," (Abstract) in Assessing the Value of Law in the Economic Transition From Socialism, edited by Peter Murrell.  University of Michigan Press 2001.

·         Diversified Business Groups in Emerging Economies,” (Downloadable PDF file) (with Maitreesh Ghatak).  Money and Finance, Oct.-Dec. 2000.

Industrial Organization and Finance

·         Socio-economic Mobility and Air Passenger Demand in the U.S.” (with Christian Hofer and Fabio Mendez). Forthcoming in Transportation Research Part A.

·         Collegiality in Organizations: An Economic Approach to Organizational Citizenship Behavior,” (with Amy Farmer), Economics and Sociology, 9(2), 2016.

·         Have Community Banks Reduced Home Foreclosure Rates? (Downloadable PDF file) (with Kathy Fogel and Tim Yeager), Journal of Banking and Finance, 35(9), September 2011.

·         Legal Systems, Information Asymmetry and Firm Boundaries: Cross-Border Choices to Diversify Through Mergers, Joint Ventures, or Strategic Alliances,” (with Tomas Jandik).  Journal of International Business Studies, 40(4), May 2009.

·         "The City as a Giant Component: A Random Graph Approach to Zipf's Law," (Abstract),  Applied Economics Letters. 10(11), 2003. 

·         "Minimum Advertised Price," (Abstract) Journal of Economics and Management StrategyVol. 7, No. 4. Winter 1998.

Conferences Organized

·         1st Annual CIRANO Workshop on Networks in Trade and Finance.


·         2nd Annual CIRANO Workshop on Networks in Trade and Finance.

Work in Progress

·         Divergence of Fortune: The Unequal Effects of Liberalization in India (with Jayati Sarkar)

·         Entrepreneurship, Reputation and Business Groups (with Nisvan Erkal).

·         Political Connections, Social Network Investment and Entrepreneurship (with Nisvan Erkal).

·         Chasing an Icon: The Psychology of Competitive Rivalry (with David Pastoriza and Jean-François Plante)

·         Friends at Work: Team Production, Corporate Culture and Collegiality (with Amy Farmer)


Sam M. Walton College of Business  |  Behavioral Business Research Lab  |  University of Arkansas