Vidya Mahambare

Professor and Director, Research
Chairperson, UB-GL Centre for Banking Excellence
Great Lakes Institute of Management

Area of Expertise: Microeconomics, Macroeconomics, International Trade, Development Economics

Email: [email protected]

Vidya, a 2020 joint winner of the Emergent Ventures Grant by The Mercatus Centre, George Mason University, also won the Azim Premji University research grant in 2021 with her colleagues.

In August 2021 she was appointed as a member of the Expert Committee of the State Planning Commission of Tamil Nadu, India, set up to draft the state policy on 'Employability and Skilling in Transitioning Economy'.

She has an MSc in International Trade and Finance, and a doctorate in Economics from Lancaster Management School, UK. Vidya's doctoral work was supported by a grant from the Committee of Vice-Chancellors and Principals (UK), a rare distinction accorded to international students. Vidya is a recipient of the Pandurangi Prize for securing the first rank in the masters in economics from the Gokhale Institute of Politics and Economics, Pune.

She has been invited to speak on television channels such as Bloomberg, BBC, NDTV, and WION to discuss the challenges and prospects for the Indian economy, based on her research related to growth, employment and public policies. She regularly writes opinion articles in popular media including Mint, Times of India, Economic Times, Hindu Business Line, Hindustan Times, Financial Express, Business Standard, and The Print among others and her articles have appeared in the Wall Street Journal, Asia.

Prof. Vidya's core teaching expertise lies across macroeconomics and microeconomics, both of which she teaches in full-time MBA programs at Great Lakes. She also teaches a highly appreciated customised course combining the relevant dimensions of micro and macroeconomics in the executive MBA and corporate programs for mid-and senior-level executives. Her elective course – Applied Behavioural Economics' attracts students from all domains including marketing and finance – where they learn how cognitive biases affect decision making, and implications for businesses and individuals. Vidya has also taught the economics courses to the RBI's newly recruited officers in the Bank's training college at Chennai.

Prior to joining GLIM, Vidya was a Director and Principal Economist at CRISIL and earlier, with Cardiff Business School, UK.

Research Interests

Employment and labour markets, Monetary policy and central banking, gender norms, health and social welfare outcomes

Research Grants

  • Awarded APU External Research Grant, March 2021 for research on Informal employment in India: Dynamics, Determinants and Welfare Implications (with Sowmya Dhanaraj and Sankalp Sharma)
  • Awarded Emergent Ventures research grant, Mercatus Centre, George Mason University, US (April 2020) to work on Employment and circular migration in India (with Sowmya Dhanaraj).
  • Awarded the AIM – AMA Sheth Foundation grant 2019 for research on 'Consumer Decision Making about Financial Products: How Chit Funds offer dual options' (Sridhar Samu)

Peer-Reviewed Journal Articles

  • Differential Impact of Diversity in Policy Communication (with Pathak, J), forthcoming Economics Letters
  • Women Employment, Identity Backlash and Partner Violence in Urban India (with Dhanaraj, S.), forthcoming in Feminist Economics
  • Family structure, education and women employment in rural India, World Development, 2019 115, 17-29 (with Dhanaraj, S.)
  • From Income to Household Welfare: Lessons from Refrigerator Ownership in India", (with Dhanaraj. S. and P. Munjal), Journal of Quantitative Economics, 2018, 16(2), 573-588
  • Preference asymmetry and international reserve accretion in India" (with N. Srinivasan and M. Ramachandran), Applied Economics Letters, 2009, 16(15), 1543 – 1546
  • Dynamics of inflation in India: Does the new inflation bias hypothesis provide an explanation? (with N. Srinivasan and M. Ramachandran), Macroeconomics and Finance in Emerging Market Economies, 2008, 1(2), 199-212
  • How does ownership structure affect capital structure and firm value? Recent evidence from East Asia, (with N. Driffield and S. Pal) Economics of Transition, 2007, 15(3), 535-573
  • UK monetary policy under inflation forecast targeting: is behaviour consistent with symmetric preferences? (with N. Srinivasan and M. Ramachandran), Oxford Economic Papers, 2006, 58 (4), 706-21
  • Modelling Inflation in India: A Critique of the Structuralist Approach (with N. Srinivasan and M. Ramachandran), Journal of Quantitative Economics, 2006, New Series 4 (2), 45-58
  • Monetary Policy Framework of the Bank of England and the European Central Bank: Some Useful Insights" (with N Srinivasan). Indian Economic Review, 2004, 39 (2), 371-381


"Should Britain Leave the EU? An Economic Analysis of a Troubled Relationship" (with P. Minford et al), Institute of Economic Affairs and Edward Elgar, London, 2nd revised edition), December 2015

Book chapter(s)

  • Women employment in India, a chapter for India Development Report, Oxford University Press (with Dhanaraj, S.), forthcoming
  • The Socio-economic profile of the state of Tamil Nadu", book chapter in Socioeconomic Profile of Rural India, Vol I: South India, For the Lal Bahadur Shastri National Academy of Administration for IAS training, forthcoming 2022
  • 'Gender Empowerment' in 'Sustainable Development Goals: An Assessment of the Challenge Facing Urban India' commissioned by Indira Gandhi Institute of Development Research, Mumbai with support from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), forthcoming 2022
  • South Africa's Labour Market- Towards 2015' (with Patrick Minford), Economic Intelligence Quarterly (ed. George Djolov), South African Chambers of Commerce (CHAMSA), South Africa, November 2005
  • Foreign direct investment in India (with Balasubramanyam VN), in Foreign Direct Investment: Six Country Case Studies, (eds) Balasubramanyam VN and Wei Y, 2004, Edward Elgar, Cheltenham, ISBN: 1-84376-467-9.

Invited speech/Panel discussion (in 2021)

Media Articles (Over 125)


  • Cornell University
  • Chicago Booth
  • Skema Business School
  • Universite Bordeaux
  • Babson
  • Frankfurt School of Finance and Management
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