University of Nottingham Malaysia
School of Economics

Recent publications

Below is a list of recent publications from the School's staff: 


  1. Swee Yew Choy, Myint Moe Chit and Wing Leong Teo, 2021. 'Sovereign credit ratings: discovering unorthodox factors and variables'. Global Finance Journal.
  2. Nusrate Aziz, Arusha Cooray and Wing Leong Teo, 2021. 'Do Immigrants’ Funds Affect the Exchange Rate?' World Economy.
  3. Usman Khalid, Luke Okafor, and Katarzyna Burzynska, 2021 'Do regional trade agreements enhance international tourism flows? Evidence from a cross-country analysis'. Journal of Travel Research.
  4. Luke Okafor, Usman Khalid and Katarzyna Burzynska, 2021. 'Does the level of a country's resilience moderate the link between the tourism industry and the economic policy response to the COVID-19 pandemic?' Current Issues in Tourism.
  5. Luke Okafor, Usman Khalid and Katarzyna Burzynska, 2021. 'The effect of migration on international tourism flows: The role of linguistic networks and common languages'. Journal of Travel Research. 
  6. Usman Khalid, Luke Okafor, and Olajide Idris Sanusi, 2021. 'Exploring the diverse sources of linguistic influence on international tourism flows'. Journal of Travel Research
  7. Mita Bhattacharya, Luke Okafor, and V. Pradeep, 2021. 'International firm activities, R&D, and productivity: Evidence from Indian manufacturing firms'. Economic Modelling. volume 97, Pages 1-13.
  8. Luke Okafor, Ogechi Adeola, and Oludele Folarin, 2021. 'Natural disasters, trade openness and international tourism: The role of income levels across countries'. Tourism Recreation Research, 
  9. Usman Khalid, Luke Okafor, and Katarzyna Burzynska, 2021. 'Does the size of the tourism sector influence the economic policy response to the COVID-19 pandemic?'. Current Issues in Tourism. Pages 1-20.
  10. Luke Okafor, Ogechi Adeola, and Oludele Folarin, 2021. 'Natural Disasters, Geography, and International Tourism'. Book Chapter: Economic Effects of Natural Disasters, Academic Press. Edited by Taha Chaiechi.   
  11. Luke Okafor, Usman Khalid, and Ogechi Adeola, 2021. 'The effect of regional trade agreement on international tourism flows in Africa and Middle East: A case for policy harmonization, New Frontiers in Hospitality and Tourism Management in Africa'. Edited by Michael Z. Ngoasong, Ogechi Adeola, Albert N.Kimbu, and Robert E.Hinson. Springer Publishing.
  12. Khalid, U., and Shafiullah, M. (2021). 'Financial Development and Governance: A Panel Data Analysis Incorporating Cross-sectional Dependence', Economic Systems, 100855. 
  13. Mensi, W., Shafiullah, M., Vo, X.V., and Kang, S.H. (2021). 'Volatility Spillovers between Strategic Commodity Futures and Stock Markets and Portfolio Implications: Evidence from Developed and Emerging Economies', Resources Policy, 71, 102002. 
  14. Shafiullah, M., Khalid, U., and Chaudhry, S.M. (2021). 'Do Stock Markets Play a Role in Determining the COVID-19 Economic Stimulus? A Cross-Country Analysis', The World Economy.
  15. Solarin, S. A., Shahbaz, M., Khan, H. N., & Razali, R. B. ICT, 'Financial Development, Economic Growth and Electricity Consumption: New Evidence from Malaysia'. Global Business Review. (accepted) 
  16. Solarin, S. A., & Bello, M. O. 'Output and substitution elasticity estimates between renewable and non-renewable energy: implications for economic growth and sustainability in India'. Environmental Science and Pollution Research, 1-20. (accepted) 
  17. Abdullahi, M. S., Raman, K., & Solarin, S. A. Ahmed, U., Shehu, U. R., Nashehu, H. H., 'Knowledge Sharing Behaviour on Employee Performance: A Mediating Role of Employee Engagement among Teaching Staff of Malaysian Private Universities'. International Journal of Business Information Systems. (accepted) 
  18. Abdullahi, M. S., Raman, K., & Solarin, S. A. 'Mediating role of employee engagement on the relationship between succession planning practice and employee performance in academic institutions: PLS-SEM approach'. Journal of Applied Research in Higher Education. (accepted) 
  19. Yilanci, V., Gorus, M. S., & Solarin, S. A. 'Convergence in per capita carbon footprint and ecological footprint for G7 countries: Evidence from panel Fourier threshold unit root test'. Energy & Environment, 1-19 (accepted) 
  20. Solarin, S. A., & Gil-Alana, L. A. 'Persistence of methane emission in OECD countries for 1750–2014: a fractional integration approach'. Environmental Modeling & Assessment, 1-13. (accepted) 
  21. Solarin, S. A., Bello, M. O., & Olabisi, O. E. 'Toward sustainable electricity generation mix: an econometric analysis of the substitutability of nuclear energy and hydropower for fossil fuels in Canada'. International Journal of Green Energy, 1-9. (accepted) 
  22. Solarin, S. A., Gil‐Alana, L. A., & Gonzalez‐Blanch, M. J. 'Persistence and dependence in geopolitical risks in various developed and developing countries'. International Journal of Finance & Economics, 1-9. (accepted) 
  23. Bello, M. O., & Solarin, S. A. 'Searching for sustainable electricity generation: The possibility of substituting coal and natural gas with clean energy'. Energy & Environment, 1-21. (accepted) 
  24. Solarin, S. A., & Gil-Alana, L. A. 'The persistence of economic policy uncertainty: Evidence of long range dependence'. Physica A: Statistical Mechanics and its Applications, 568, 125698. (accepted) 
  25. Solarin, S. A., Gil-Alana, L. A., & Gonzalez-Blanch, M. J. 'Fractional persistence in income poverty in Africa'. Social Indicators Research, 1-19. (accepted)
  26. Erdogan, S., & Solarin, S. A. 'Stochastic convergence in carbon emissions based on a new Fourier-based wavelet unit root test'. Environmental Science and Pollution Research, 1-13. (accepted) 
  27. Solarin, S. A., Nathaniel, S. P., Bekun, F. V., Okunola, A. M., & Alhassan, A. 'Towards achieving environmental sustainability: environmental quality versus economic growth in a developing economy on ecological footprint via dynamic simulations of ARDL'. Environmental Science and Pollution Research, 1-18. (accepted) 
  28. Abdullahi, M. S., Raman, K., & Solarin, S. A. 'Talent management practices on employee performance among academic staff of Malaysian private universities: employee engagement as a mediator'. Journal of Applied Research in Higher Education. (accepted) 
  29. Solarin, S. A., Bello, M. O., & Bekun, F. V. 'Sustainable electricity generation: the possibility of substituting fossil fuels for hydropower and solar energy in Italy'. International Journal of Sustainable Development & World Ecology, 1-11. (accepted) 
  30. Al-Mulali, U., Solarin, S. A., Andargol, A. E., & Gholipour, H. F. 'Digital adoption and its impact on tourism arrivals and receipts'. Anatolia. (accepted) 
  31. Solarin, S. A., Loke, K. H., Ramasamy, S. A. P., Yen, Y. Y., & Gan, G. G. 'Microfinance services and socio‐economic welfare of urban households in Sabah, Malaysia'. Journal of Public Affairs. (accepted) 
  32. Al‐Mulali, U., Solarin, S. A., & Gholipour, H. F. 'Relationship between financial development and inbound tourism: A revisit'. Journal of Public Affairs. (accepted) 
  33. Abdullahi, M. S., Raman, K., & Solarin, S. A. (2021) 'Effect of organizational culture on employee performance: a mediating role of employee engagement in Malaysia educational sector'. International Journal of Supply and Operations Management. 8(3), 232-246 
  34. Solarin, S. A., Gil-Alana, L. A., & Gonzalez-Blanch, M. J. (2021). 'Persistence of sulfur dioxide emissions in OECD Countries Between 1750–2014: A fractional integration approach'. International Journal of Environmental Research, 15, 701–708. 
  35. Solarin, S. A., Gil-Alana, L. A., & Lafuente, C. (2021). 'Persistence and non-stationarity in the built-up land footprint across 89 countries'. Ecological Indicators, 123, 107372.
  36. Tiwari, A. K., Mishra, B. R., & Solarin, S. A. (2021). 'Analysing the Spillovers between Crude Oil Prices, Stock Prices and Metal Prices: The Importance of Frequency Domain in USA'. Energy, 220, 119732. 
  37. Bello, M. O., Solarin, S. A., & Yen, Y. Y. (2021). 'Modelling the economic role of hydropower: Evidence from bootstrap autoregressive distributed lag approach'. Renewable Energy, 168, 76-84. 
  38. Al-hajj, E., Al-Mulali, U., & Solarin, S. A.  (2021). 'Exploring the nexus between oil price shocks and sectoral stock returns: a new evidence from stock exchange in Malaysia'. Economic Change and Restructuring, 54, 199–217 



  1. Usman Khalid, Luke Okafor, and Muhammad Shafiullah, 2020. 'The effects of economic and financial crises on international tourist flows: A cross country analysis'. Journal of Travel Research. Volume 59, Issue 2.                                                                                                         
  2. Luke Okafor, 2020. 'Export Market Destinations, Imported Intermediates and Productivity: Firm-level Evidence from Ghana'. International Trade Journal.
  3. Luke Okafor, 2020. 'Exports, Imported Inputs, Two-way Trade, and Productivity: The role of absorptive capacity'. International Trade Journal.
  4. Luke Okafor, and Usman Khalid, 2020. 'Regaining international tourism attractiveness after an armed conflict: the role of security spending'. Current Issues in Tourism.
  5. Silva, Andrew (2020) 'Gender, price, and quantity effects in U.S. earnings inequality: revisiting counterfactual density estimates,' Economics Bulletin, Vol. 40 No. 3 p.A219.
  6. Gaber, Nadia, Andrew Silva, Monica Lewis-Patrick, Emily Kutil, Debra Taylor, and Roslyn Bouier (2020) 'Water insecurity and psychosocial distress: case study of the Detroit water shutoffs,' Journal of Public Health. doi:10.1093/pubmed/fdaa15
  7. Silva, Andrew (2020) 'Unpaid internships and equality of opportunity: a pseudo-panel analysis of UN data,' Applied Economics Letters. doi:10.1080/13504851.2020.180857
  8. Chaudhry, S.M., Ahmed, R., Shafiullah, M., and Huynh, T.L.D. (2020). 'The Impact of Carbon Emissions on Country Risk: Evidence from G7 Economies', Journal of Environmental Management, 265, 110533. (Special Issue on “The Role of Innovations in Managing Environmental Challenges: Post Paris Agreement (COP21)”
  9. Shafiullah, M., Khalid, U., and Shahbaz, M. (2020). 'Does Meat Consumption Exacerbate Greenhouse Gas Emissions? Evidence from US Data', Environmental Science and Pollution Research, 28(9), 11415–11429. 
  10. Shafiullah, M., Chaudhry, S.M., Shahbaz, M., and Reboredo, J.C. (2020). 'Quantile Causality and Dependence between Crude Oil and Precious Metal Prices', International Journal of Finance & Economics
  11. Shahbaz, M., Shafiullah, M., Khalid, U., and Song, M. (2020). 'A Nonparametric Analysis of Energy Environmental Kuznets Curve in Chinese Provinces', Energy Economics, 89, 104814. 
  12. Loke, K. H., Solarin, S. A., Ramasamy, S., & Dahalan, J. (2020). 'The effects of services by microfinance institutions on the welfare of urban households in Malaysia'. Jurnal Pengurusan (UKM Journal of Management). 58, 105 – 118] 
  13. Al-mulali, U., Solarin, S. A., & Salahuddin, M. (2020). 'The prominence of renewable and non-renewable electricity generation on the environmental Kuznets curve: A case study of Ethiopia'. Energy, 211, 118665. 
  14. Solarin, S. A., Gil-Alana, L. A., & Lafuente, C. (2020). 'Persistence and sustainability of fishing grounds footprint: Evidence from 89 countries'. Science of The Total Environment, 751, 141594. 
  15. Solarin, S. A. (2020). 'Towards sustainable development: A multi‐country persistence analysis of forest products footprint using a stationarity test with smooth shifts'. Sustainable Development, 28(5), 1465-1476. 
  16. Shahbaz, M., Solarin, S. A., Azam, M., & Tiwari, A. K. 'Tourism-induced income distribution in Malaysia: a practical experience of a truly Asian economy'. Current Issues in Tourism, 23(23) 2910-2929. 
  17. Solarin, S. A., & Tiwari, A. (2020). 'Convergence in Sulphur Dioxide (SO 2) Emissions Since 1850 in OECD Countries: Evidence from a New Panel Unit Root Test'. Environmental Modeling & Assessment, 25(5), 665-675. 
  18. Ali, H. E., & Solarin, S. A. (2020). 'Military Spending, Corruption, and the Welfare Consequences'. Defence and Peace Economics, 31(6), 677-691 
  19. Solarin, S. A. (2020). 'An environmental impact assessment of fossil fuel subsidies in emerging and developing economies'. Environmental Impact Assessment Review, 85, 106443. 
  20. Etokakpan, M. U., Solarin, S. A., Yorucu, V., Bekun, F. V., & Sarkodie, S. A. (2020). 'Modeling natural gas consumption, capital formation, globalization, CO2 emissions and economic growth nexus in Malaysia: Fresh evidence from combined cointegration and causality analysis'. Energy Strategy Reviews, 31, 100526. 
  21. Solarin, S. A. (2020). 'The effects of shale oil production, capital and labour on economic growth in the United States: A maximum likelihood analysis of the resource curse hypothesis'. Resources Policy, 68, 101799. 
  22. Solarin, S. A. (2020). 'Towards sustainable development in developing countries: aggregate and disaggregate analysis of energy intensity and the role of fossil fuel subsidies'. Sustainable Production and Consumption, 24, 254-265. 
  23. Solarin, S. A., & Bello, M. O. (2020). 'The impact of shale gas development on the US economy: Evidence from a quantile: Autoregressive distributed lag model'. Energy, 202, 118004, 1-10. 
  24. Bello, M. O., Solarin, S. A., & Yen, Y. Y. (2020). 'Interfuel substitution, hydroelectricity consumption and CO2 emissions mitigation in Malaysia: evidence from a transcendental logarithm (trans-log) cost function framework'. Environmental Science and Pollution Research, 27, 17162–17174. 
  25. Solarin, S. A., & Bello, M. O. (2020). 'Energy innovations and environmental sustainability in the US: The roles of immigration and economic expansion using a maximum likelihood method'. Science of The Total Environment, 712, 135594. 
  26. Umar, Z., Nasreen, S., Solarin, S. A., & Tiwari, A. K. (2019). 'Exploring the time and frequency domain connectedness of oil prices and metal prices'. Resources Policy, 64, 101516, 1-20 
  27. Solarin, S. A., Gil-Alana, L. A., & Lafuente, C. (2020). 'An investigation of long range reliance on shale oil and shale gas production in the US market'. Energy, 195, 116933, 1-12. Solarin, S. A., Gil-Alana, L. A., & Lafuente, C. (2020). Persistence of the Misery Index in African Countries. Social Indicators Research. 147(3), 825-841. 

School of Economics

University of Nottingham Malaysia
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