I am an Assistant Professor at the Gustavson School of Business at the University of Victoria (Canada) and a Visiting fellow at Essex Business School at the University of Essex (UK). I've previously held faculty positions at the University of Essex and the University of Bristol.


My research interests have predominantly focused on the field of international finance, focusing on issues such as the forward premium anomaly and the purchasing power parity puzzle. Recent and ongoing work includes modelling and forecasting FX implied volatility, examination of the determinants of project finance (syndicated) loans, exchange rate exposure, exchange rate pass through, and futures markets efficiency.


I have taught a broad range of undergraduate and graduate courses. These have included Priciples of Finance, Management Finance, and International Finance. I have also successfully co-supervised 7 PhD students to date.

Research publications

Peer reviewed journals

  • Open outcry versus electronic trading: Tests of market efficiency on crude palm oil futures”, Journal of Futures Markets (fortcoming) (with N Kellard and N. Ahmad.)
  • The exchange rate exposure puzzle: The long and the short of it”, Economics Letters 159, pp 204-207  2017 (with S. Termprasertsakul and A Wood.)
  • FX technical trading rules can be profitable sometimes!”, International Review of Financial Analysis 49, pp 113-127  2017 (with N Zarrabi and J Coakley.)
  • Forecasting EUR-USD Intraday Implied Volatility”, Journal of Banking and Finance 37, pp 4943-4957 2013 (with C Dunis and N Kellard.)
  • "Does the Forward Premium Puzzle Disappear Over the Horizon?“, Journal of Banking and Finance 37, pp 3681-3693, 2013 (with J Coakley and N Kellard)
  • "The PPP debate: Multiple breaks and cross-sectional dependence" Economics Letters 115(3), pp. 342-344, 2012 
  • "Project finance loan spreads and disaggregated political risk" Applied Financial Economics, 21(23), 1725-1734, 2011 (with C Girardone
  • Testing for symmetry and proportionality in a European panel” Applied Financial Economics, Special Issue: Purchasing Power Parity and Real Exchange Rates 16(1-2), pp. 63-71, 2006 (with J Coakley
  • "The PPP debate: Price matters!" Economics Letters, 88(2), 209-213, 2005 (with J Coakley and N Kellard
  • Book Chapters

  • "Project finance investments and political risk: an empirical investigation." In S. Leader and D. Ong (Eds.), Global project finance, human rights and sustainable development. Cambridge University Press.(with C Girardone)
  • Contact

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