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Overview
Kul Luintel has been Professor of Economics at Cardiff Business School (CARBS) since September 2006. He has served two terms as Head of the Economics Section (Department), from September 2012 to September 2015 and from August 2022 to August 2025, and has also been a member of the Management Board of CARBS, contributing to strategic decisions governing the school. He is a seasoned academic with extensive knowledge and experience in academic management.
Before joining Cardiff, he held professorial positions at Swansea University (January 2005–August 2006) and Brunel University (October 2001–December 2004).
Kul served as a member of CHUDE (Conference of Heads of UK Departments of Economics) during his two headship terms and was a member of its Executive Committee from 2014 to 2016. At CARBS, he was the Senior Representative to the Research Committee from 2008 to 2013, playing a key role in preparations for the 2014 Research Excellence Framework (REF). Recognized as one of CARBS’s 'REF Gurus,' he made significant contributions to developing research impact cases and research environment templates, as well as moderating REF submissions from other schools.
His research interests include R&D and innovation, endogenous growth, macroeconomics, finance, regional development, and applied econometrics.
His research has been published in leading journals, including The Economic Journal, The Review of Economics and Statistics, Journal of Money, Credit and Banking, Research Policy, Journal of Development Economics, Economica, Canadian Journal of Economics, Journal of Applied Econometrics, Oxford Bulletin of Economics and Statistics, Journal of Economic Behaviour and Organisation, Journal of International Money and Finance, Economics Letters, The Journal of Financial Research, Journal of Macroeconomics, and Journal of International Financial Markets, Institutions and Money.
He is a member of the Royal Economic Society, American Economic Association, European Economic Association, Canadian Economics Association, the Money, Macro and Finance Group, and Beta Gamma Sigma, an international honour society.
Kul has held visiting positions at Malaga University (2016 and 2018), CESifo Institut – Leibniz-Institut für Wirtschaftsforschung, University of Munich (2016), University of Jyväskylä (2015), and CORE, Université Catholique de Louvain (2005). He has also undertaken research visits to Keio University, Kobe University, and the National Graduate Institute for Policy Studies (GRIPS) in Tokyo.
Kul received his MPhil (1990) and PhD (1993) from the University of Glasgow.
Publication
2026
- Luintel, K. and Pourpourides, P. 2026. New results and a model of scale effects on growth. Macroeconomic Dynamics 30 e10. (10.1017/S1365100525100801)
2024
- Luintel, K. B. , Li, G. and Khan, M. 2024. The threshold effect of finance on growth: Reassessing the burden of evidence. Open Economies Review 35 , pp.887-953. (10.1007/s11079-024-09757-6)
2023
- Ahamed, M. M. , Luintel, K. B. and Mallick, S. K. 2023. Does local knowledge spillover matter for firm productivity? The role of financial access and corporate governance. Research Policy 52 (8) 104837. (10.1016/j.respol.2023.104837)
- Li, K. , Azacis, H. and Luintel, K. 2023. Resource misallocation in the presence of R&D spillovers. Working paper. Cardiff: Cardiff Business School. Available at: http://carbsecon.com/wp/E2023_24.pdf.
- Luintel, K. , Li, G. and Khan, M. 2023. Finance and growth: The unpleasant burden of evidence. Project Report.Cardiff Business School.
2022
- Luintel, K. B. and Pourpourides, P. M. 2022. New results and a model of scale effects on growth. Project Report.Cardiff: Cardiff Economics Working Papers.
2021
- Zhao, T. , Luintel, K. B. and Matthews, K. 2021. Soft information and the geography of SME bank lending. Regional Studies 55 (4), pp.679-692. (10.1080/00343404.2020.1851024)
2020
- Dixon, H. , Luintel, K. and Tian, K. 2020. The impact of the 2008 crisis on UK prices: what we can learn from the CPI microdata. Oxford Bulletin of Economics and Statistics 82 (6), pp.1322-1341. (10.1111/obes.12373)
- Luintel, K. et al. 2020. The role of provincial government spending composition in growth and convergence in China. Economic Modelling 90 , pp.117-134. (10.1016/j.econmod.2020.04.024)
2017
- Luintel, K. , Selim, S. and Bajracharya, P. 2017. Liberalization, bankers’ motivation and productivity: A simple model with an application. Economic Modelling 61 , pp.102-112. (10.1016/j.econmod.2016.11.017)
- Luintel, K. B. and Khan, M. 2017. Ideas production and international knowledge spillovers: digging deeper into emerging countries. Research Policy 46 (10), pp.1738-1754. (10.1016/j.respol.2017.07.009)
- Luintel, K. B. and Xu, Y. 2017. Testing weak exogeneity in multiplicative error models. Quantitative Finance 17 (10), pp.1617-1630. (10.1080/14697688.2016.1274045)
2016
- Luintel, K. 2016. R&D, scale effects and spillovers: new insights from emerging countries. Working paper. Cardiff: Cardiff Business School.
- Luintel, K. B. et al. 2016. Financial development, structure and growth: new data, method and results. Journal of International Financial Markets, Institutions and Money 43 , pp.95-112. (10.1016/j.intfin.2016.04.002)
2014
- Dixon, H. , Luintel, K. and Tian, K. 2014. The impact of the 2008 crisis on UK prices: what we can learn from the CPI microdata. Working paper. Cardiff: Cardiff University.
- Luintel, K. , Khan, M. and Theodoridis, K. 2014. On the robustness of R&D. Journal of Productivity Analysis 42 (2), pp.137-155. (10.1007/s11123-013-0360-0)
2012
- Luintel, K. and Khan, M. 2012. Ideas production in emerging economies. Working paper. Cardiff: Cardiff University.
- Luintel, K. , Khan, M. and Theodoridis, K. 2012. On the robustness of R&D. Working paper. Cardiff: Cardiff University.
2011
- Luintel, K. and Khan, M. 2011. Basic, applied and experimental knowledge and productivity: further evidence. Economics Letters 111 (1), pp.71-74. (10.1016/j.econlet.2011.01.017)
- Luintel, K. and Khan, M. 2011. Basic, applied and experimental knowledge and productivity: further evidence. Working paper. Cardiff: Cardiff University.
2010
- Arestis, P. , Luintel, A. D. and Luintel, K. 2010. Financial structure and economic growth: evidence from time series analyses. Applied Financial Economics 20 (19), pp.1479-1492. (10.1080/09603107.2010.508716)
- Kyriacou, K. , Luintel, K. and Mase, B. 2010. Private information in executive stock option trades: evidence of insider trading in the UK. Economica 77 (308), pp.751-774. (10.1111/j.1468-0335.2009.00775.x)
- Luintel, K. , Khan, M. and Theodoridis, K. 2010. How robust is the R&D–productivity relationship? Evidence from OECD countries. Working paper. Cardiff: Cardiff University.
2009
- Luintel, K. and Khan, M. 2009. Heterogeneous ideas production and endogenous growth: an empirical investigation. Canadian Journal of Economics 42 (3), pp.1176-1205. (10.1111/j.1540-5982.2009.01543.x)
2008
- Kyriacou, K. , Luintel, K. and Bryan, M. 2008. Private information in executives’ option trades: evidence from the UK. Working paper. Cardiff: Cardiff University.
- Luintel, K. and Khan, M. 2008. Heterogeneous ideas production and endogenous growth: an empirical investigation. Working paper. Cardiff: Cardiff University.
- Luintel, K. et al. 2008. Financial structure and economic growth. Journal of Development Economics 86 (1), pp.181-200. (10.1016/j.jdeveco.2007.11.006)
- Luintel, K. et al. 2008. Financial structure and economic growth. Working paper. Cardiff: Cardiff University.
2007
- Arghyrou, M. G. and Luintel, K. 2007. Government Solvency: Revisiting some EMU countries. Journal of Macroeconomics 29 (2), pp.387-410. (10.1016/j.jmacro.2005.09.001)
2006
- Luintel, K. and Paudyal, K. 2006. Are common stocks a hedge against inflation?. Journal of Financial Research 29 (1), pp.1-19. (10.1111/j.1475-6803.2006.00163.x)
2004
- Luintel, K. and Khan, M. 2004. Are International R&D Spillovers Costly for the United States?. The Review of Economics and Statistics 86 (4), pp.896-910. (10.1162/0034653043125266)
2002
- Arestis, P. , Khan, M. and Luintel, K. 2002. Fiscal Deficits in Monetary Unions: A Comparison of EMU and United States. Eastern Economic Journal 28 (1), pp.89-103.
- Luintel, K. 2002. Exogeneity of Money and its Policy Implications for Price Control: Evidence from South Asia. Pacific Economic Review 7 (3), pp.505-517. (10.1111/1468-0106.00174)
2001
- Luintel, K. 2001. Heterogeneous Panel Unit Root Tests and Purchasing Power Parity. The Manchester School 69 (S1), pp.42-56. (10.1111/1467-9957.69.s1.3)
- Luintel, K. , Arestis, P. and Demetriades, P. O. 2001. Financial Development and Economic Growth: The Role of Stock Markets. Journal of money credit and banking 33 (1), pp.16-41. (10.2307/2673870)
- Luintel, K. and Choudhry, T. 2001. The long-run behaviour of the real exchange rate: evidence from colonial Pennsylvania. Economics Letters 74 (1), pp.25-30. (10.1016/S0165-1765(01)00532-8)
- Luintel, K. and Demetriades, P. O. 2001. Financial restraints in the South Korean miracle. Journal of Development Economics 64 (2), pp.459-479. (10.1016/S0304-3878(00)00146-2)
Articles
- Ahamed, M. M. , Luintel, K. B. and Mallick, S. K. 2023. Does local knowledge spillover matter for firm productivity? The role of financial access and corporate governance. Research Policy 52 (8) 104837. (10.1016/j.respol.2023.104837)
- Arestis, P. , Khan, M. and Luintel, K. 2002. Fiscal Deficits in Monetary Unions: A Comparison of EMU and United States. Eastern Economic Journal 28 (1), pp.89-103.
- Arestis, P. , Luintel, A. D. and Luintel, K. 2010. Financial structure and economic growth: evidence from time series analyses. Applied Financial Economics 20 (19), pp.1479-1492. (10.1080/09603107.2010.508716)
- Arghyrou, M. G. and Luintel, K. 2007. Government Solvency: Revisiting some EMU countries. Journal of Macroeconomics 29 (2), pp.387-410. (10.1016/j.jmacro.2005.09.001)
- Dixon, H. , Luintel, K. and Tian, K. 2020. The impact of the 2008 crisis on UK prices: what we can learn from the CPI microdata. Oxford Bulletin of Economics and Statistics 82 (6), pp.1322-1341. (10.1111/obes.12373)
- Kyriacou, K. , Luintel, K. and Mase, B. 2010. Private information in executive stock option trades: evidence of insider trading in the UK. Economica 77 (308), pp.751-774. (10.1111/j.1468-0335.2009.00775.x)
- Luintel, K. 2002. Exogeneity of Money and its Policy Implications for Price Control: Evidence from South Asia. Pacific Economic Review 7 (3), pp.505-517. (10.1111/1468-0106.00174)
- Luintel, K. 2001. Heterogeneous Panel Unit Root Tests and Purchasing Power Parity. The Manchester School 69 (S1), pp.42-56. (10.1111/1467-9957.69.s1.3)
- Luintel, K. , Arestis, P. and Demetriades, P. O. 2001. Financial Development and Economic Growth: The Role of Stock Markets. Journal of money credit and banking 33 (1), pp.16-41. (10.2307/2673870)
- Luintel, K. and Choudhry, T. 2001. The long-run behaviour of the real exchange rate: evidence from colonial Pennsylvania. Economics Letters 74 (1), pp.25-30. (10.1016/S0165-1765(01)00532-8)
- Luintel, K. and Demetriades, P. O. 2001. Financial restraints in the South Korean miracle. Journal of Development Economics 64 (2), pp.459-479. (10.1016/S0304-3878(00)00146-2)
- Luintel, K. and Khan, M. 2004. Are International R&D Spillovers Costly for the United States?. The Review of Economics and Statistics 86 (4), pp.896-910. (10.1162/0034653043125266)
- Luintel, K. and Khan, M. 2011. Basic, applied and experimental knowledge and productivity: further evidence. Economics Letters 111 (1), pp.71-74. (10.1016/j.econlet.2011.01.017)
- Luintel, K. and Khan, M. 2009. Heterogeneous ideas production and endogenous growth: an empirical investigation. Canadian Journal of Economics 42 (3), pp.1176-1205. (10.1111/j.1540-5982.2009.01543.x)
- Luintel, K. et al. 2008. Financial structure and economic growth. Journal of Development Economics 86 (1), pp.181-200. (10.1016/j.jdeveco.2007.11.006)
- Luintel, K. , Khan, M. and Theodoridis, K. 2014. On the robustness of R&D. Journal of Productivity Analysis 42 (2), pp.137-155. (10.1007/s11123-013-0360-0)
- Luintel, K. et al. 2020. The role of provincial government spending composition in growth and convergence in China. Economic Modelling 90 , pp.117-134. (10.1016/j.econmod.2020.04.024)
- Luintel, K. and Paudyal, K. 2006. Are common stocks a hedge against inflation?. Journal of Financial Research 29 (1), pp.1-19. (10.1111/j.1475-6803.2006.00163.x)
- Luintel, K. and Pourpourides, P. 2026. New results and a model of scale effects on growth. Macroeconomic Dynamics 30 e10. (10.1017/S1365100525100801)
- Luintel, K. , Selim, S. and Bajracharya, P. 2017. Liberalization, bankers’ motivation and productivity: A simple model with an application. Economic Modelling 61 , pp.102-112. (10.1016/j.econmod.2016.11.017)
- Luintel, K. B. and Khan, M. 2017. Ideas production and international knowledge spillovers: digging deeper into emerging countries. Research Policy 46 (10), pp.1738-1754. (10.1016/j.respol.2017.07.009)
- Luintel, K. B. et al. 2016. Financial development, structure and growth: new data, method and results. Journal of International Financial Markets, Institutions and Money 43 , pp.95-112. (10.1016/j.intfin.2016.04.002)
- Luintel, K. B. , Li, G. and Khan, M. 2024. The threshold effect of finance on growth: Reassessing the burden of evidence. Open Economies Review 35 , pp.887-953. (10.1007/s11079-024-09757-6)
- Luintel, K. B. and Xu, Y. 2017. Testing weak exogeneity in multiplicative error models. Quantitative Finance 17 (10), pp.1617-1630. (10.1080/14697688.2016.1274045)
- Zhao, T. , Luintel, K. B. and Matthews, K. 2021. Soft information and the geography of SME bank lending. Regional Studies 55 (4), pp.679-692. (10.1080/00343404.2020.1851024)
Monographs
- Dixon, H. , Luintel, K. and Tian, K. 2014. The impact of the 2008 crisis on UK prices: what we can learn from the CPI microdata. Working paper. Cardiff: Cardiff University.
- Kyriacou, K. , Luintel, K. and Bryan, M. 2008. Private information in executives’ option trades: evidence from the UK. Working paper. Cardiff: Cardiff University.
- Li, K. , Azacis, H. and Luintel, K. 2023. Resource misallocation in the presence of R&D spillovers. Working paper. Cardiff: Cardiff Business School. Available at: http://carbsecon.com/wp/E2023_24.pdf.
- Luintel, K. 2016. R&D, scale effects and spillovers: new insights from emerging countries. Working paper. Cardiff: Cardiff Business School.
- Luintel, K. and Khan, M. 2011. Basic, applied and experimental knowledge and productivity: further evidence. Working paper. Cardiff: Cardiff University.
- Luintel, K. and Khan, M. 2008. Heterogeneous ideas production and endogenous growth: an empirical investigation. Working paper. Cardiff: Cardiff University.
- Luintel, K. and Khan, M. 2012. Ideas production in emerging economies. Working paper. Cardiff: Cardiff University.
- Luintel, K. et al. 2008. Financial structure and economic growth. Working paper. Cardiff: Cardiff University.
- Luintel, K. , Khan, M. and Theodoridis, K. 2010. How robust is the R&D–productivity relationship? Evidence from OECD countries. Working paper. Cardiff: Cardiff University.
- Luintel, K. , Khan, M. and Theodoridis, K. 2012. On the robustness of R&D. Working paper. Cardiff: Cardiff University.
- Luintel, K. , Li, G. and Khan, M. 2023. Finance and growth: The unpleasant burden of evidence. Project Report.Cardiff Business School.
- Luintel, K. B. and Pourpourides, P. M. 2022. New results and a model of scale effects on growth. Project Report.Cardiff: Cardiff Economics Working Papers.
Research
PhD supervision research interests
- CEO compensation and firm performance
- Empirical (econometric) work using time series and panel data econometrics
- Event studies
- Exogeneity of money; spot and forward market efficiency
- Financial policies, financial sector development and economic growth
- Financial sector development and economic growth
- Financial structure and economic growth
- Fiscal integration and fiscal solvency; Real Exchange Rate Behaviour
- International fisher effect
- Knowledge spillovers and endogenous growth; knowledge and productivity
- Modelling company cash holding
- Modelling exchange rate behaviour
- Modelling ideas production
- Purchasing power parity
- Stockmarket anomalies
Research interests
- Applied econometrics
- Banking productivity
- Block trade
- Executives' option
- Exogeneity of money
- Financial development, financial structure and economic growth
- Fiscal integration and fiscal solvency
- Ideas production, knowledge spillovers and endogenous growth
- International finance: Fisher relationship, spot & forward markets
- R& D and productivity
- Real exchange rate behaviour
Teaching
Teaching commitments
- Advanced financial theory
- Development finance
- Econometrics/Advanced econometrics
- Financial theory and corporate policy
- Financial markets and instruments
- International finance
- Macroeconomics and models of economic growth
Biography
Professional memberships
- American Economic Association
- Canadian Economics Association
- Royal Economic Society
- Southern Economic Association
Contact Details
[email protected]
+44 29208 75534
Aberconway Building, Room S09a, Colum Road, Cathays, Cardiff, CF10 3EU
+44 29208 75534
Aberconway Building, Room S09a, Colum Road, Cathays, Cardiff, CF10 3EU