<table border="0" width="780" cellspacing="0" cellpadding="0"> <tbody> <tr valign="top"> <td width="550"> <table border="0" width="100%" cellspacing="0" cellpadding="10"> <tbody> <tr valign="top"> <td width="86%" class="bodytext"> <h2><!--StartFragment-->Ali M. Kutan</h2> <p><img height="209" border="0" width="237" alt="" src="/id0904f67a805771f4" align="right" /></p> <p align="left">Professor<br />Graduate Program Director<br /></p> <p><span class="Ahdr2">Member of the Faculty Since:</span> 1991</p> <p><span class="Ahdr2">Ph.D.,</span> <a href="http://www.asu.edu/">Arizona State University</a>, 1990<br /><span class="Ahdr2">M.S.,</span> <a href="http://www.fau.edu/">Florida Atlantic University</a>, 1985<br /><span class="Ahdr2">B.A.,</span> <a href="http://www.istanbul.edu.tr/">Istanbul University</a>, 1981</p> <ul> <li><strong>Office:</strong> Alumni Hall-3143</li> <li><strong>Office Phone:</strong> (618) 650-3473</li> <li><strong>Fax:</strong> (618) 650-3047</li> <li><strong>Email:</strong> <a href="mailto:akutan@siue.edu">akutan@siue.edu</a></li> </ul> <p></p> <hr /> <h3 class="Ahdr2"><span class="Ahdr2">Courses:</span></h3> <ul> <li>Econ 302: Intermediate Macroeconomics</li> <li>Econ 502: Advanced Macroeconomics</li> </ul> <h3 class="Ahdr2"><span class="Ahdr2">Other:</span></h3> <ul> <li><a href="/id0904f67a80576d99">Curriculum Vita</a></li> <li><a href="http://www.siue.edu/%7Eakutan/">Personal Web Page</a></li> </ul> <hr /> <h3><span class="Ahdr2">Recent Selected Publications:</span></h3> <p></p> <ul> <li>"Enlargement of the European Union and Behavior of Real Exchange Rates," (with S. Zhou), Forthcoming: <em>Review of Development Economics</em></li> <li>"The Reaction of Asset Prices to Monetary Policy Announcements in Emerging European Economies," (with E. Kocenda and J. Hanousek), Forthcoming: <em>Journal of Financial Stability</em>.</li> <li>"Institutional Antecedents of Corporate Governance Legitimacy," with (W. Judge and T. Douglas),<em> Journal of Management</em></li> <li>"How do IMF Announcements Affect Financial Markets in Crisis?: Evidence from Forward Exchange Markets," (with A. Evrensel), <em>Journal of Financial Stabililty</em>, 4 (2) June, 2008.</li> <li>"Do Real Exchange Rates Follopw a Non-Linear Mean Reverting Process in Developing Countries?" (with M. Bahmani-Ooskee and S. Zhou), <em>Southern Economic Journal</em>, April, 2008, Volume 7004.</li> <li>"Purchasing Power Parity Before and Adoption of the Euro," (with Moshen Bahami-Ooskee and S. Zhou), <em>Review of World Economics / Weltwirt - schaft - liches Archiv</em>, April, 2008</li> <li><a href="papers/kutan%20yigit%20feb%2004%20EER%20submission.pdf">“European Integration, Productivity Growth and Real Convergence”</a> by <a href="facpages/kutan.html">Ali M. Kutan</a> (with Taner Yigit), <em>“European Economic Review, </em>51(6), August, 2007<em>"</em></li> <li><a href="../papers/Bahmani_Kutan_Zhou_june1106.doc">"Testing PPP in the non-linear STAR framework,"</a> by Mohsen Bahmani-Oskooee, Ali M. Kutan and Su Zhou, <em>Economics Letters, </em>Volume 94, Issue 1, January, 2007</li> <li><a href="http://www.sciencedirect.com/science?_ob=MImg&_imagekey=B6V9S-4J555NW-1-C&_cdi=5906&_user=1490870&_orig=search&_coverDate=01/30/2006&_sk=999999999&view=c&wchp=dGLbVzb-zSkWA&md5=8aebbceb8ced9bbb317ca15166cb5367&ie=/sdarticle.pdf">"Creditor Moral Hazard in Stock Markets: Empirical Evidence from Indonesia and Korea,"</a> (with <a href="evrensel.html">Ayse Evrensel</a>)," <em><a href="http://www.sciencedirect.com/science/journal/02615606">Journal of International Money and Finance</a></em>, Vol. 25, pg. 640-654, 2006.</li> <li><a href="../papers/FDIEEBalkansDec2004A4.PDF">"The Effects of Transition and Political Instability On Foreign Direct Investment Inflows: Central Europe and the Balkans,"</a> (with Josef C. Brada and Taner M. Yigit), forthcoming in <em>Economics of Transition.</em></li> <li>"IMF-Related News and Emerging Financial Markets," (with Bernd Hayo), <em>Journal of Internatioinal Money and Finance</em>, Volume 24, Issue 7, November, 2005.</li> <li>"The Impact of News, Oil Prices, and International Spillovers on Russian Financial Markets,: (with Bern Hayo), <em>Economics of Transition</em>, Volume 13, Issue 2, June 2005.</li> </ul> <h3><span class="Ahdr2">Recent Working Papers:</span><br /></h3> <ul> <li><!--StartFragment--><!--StartFragment--> <ul type="disc"> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo1;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>08-0202:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/(S-Curve%20in%20Emerging%20Mkts).doc"><span style='font-family:"Arial","sans-serif"'>"The S-Curve in Emerging Markets,"</span></a> by <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan</span></a> and Mohsen Bahmani-Oskooee.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo1;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>08-0203:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/Corruption_paper_Feb%201.doc"><span style='font-family:"Arial","sans-serif"'>"Determinants of Corruption and the Growth-Corruption Link<br /> in Energy-Rich Economies,"</span></a> by <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan</span></a>, Yelena Kalyuzhnova and Taner Yigit.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo1;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>08-0204:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/Submission%20to%20QJEF.doc"><span style='font-family:"Arial","sans-serif"'>"Is PPP Sensitive to Time-Varying Trade Weights in Constructing Real Effective Exchange Rates?"</span></a> by <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan,</span></a> Mohsen Bahmani-Oskooee and Scott W. Hegerty.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo1;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>08-0410:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/.doc"><span style='font-family:"Arial","sans-serif"'>"How Stable is the Demand for Money in Emerging Economies?"</span></a> by <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan</span></a> and Sahar Bahmania.</span></li> </ul> <div style="text-align:center" class="MsoNormal" align="center"> <hr size="2" width="100%" align="center" /> </div> <ul type="disc"> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo2;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>07-1001:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/Microsoft%20Word%20-%20CeeNewsTxt09.pdf"><span style='font-family:"Arial","sans-serif"'>"The Reaction of Asset Prices to Macroeconomic Announcements in New EU Markets: Evidence from Intraday Data,"</span></a> <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan</span></a>, Jan Hanousek and Evžen Kocenda.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo2;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>07-0101:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/J-curves.doc"><span style='font-family:"Arial","sans-serif"'>"The J-Curve in the Emerging Economies of Eastern Europe,"</span></a> <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan</span></a> and Mohsen Bahmani-Oskooee.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo2;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>07-0102</span></strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>: <a href="http://www.siue.edu/BUSINESS/econfin/papers/Microsoft%20Word%20-%20KUTAN_DOUGLAS_JUDGE_REVISED%20VERSION_May10_2007.pdf"><span style='font-family:"Arial","sans-serif"'>"Does Corruption Hurt Economic Development?: Evidence from Middle Eastern, North African and Latin American Countries,"</span></a> By <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M Kutan</span></a>, Thomas J. Douglas and William Q. Judge.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo2;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>07-0103:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/Microsoft%20Word%20-%20Kutan_Vuksic_May29_2007%20_2_.pdf"><span style='font-family:"Arial","sans-serif"'>"Foreign Direct Investment and Export Performance: Empirical Evidence,"</span></a> by <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M Kutan</span></a> and Goran Vukšic.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo2;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>07-0104:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/Microsoft%20Word%20-%20EUPPP%20r.pdf"><span style='font-family:"Arial","sans-serif"'>"Purchasing Power Parity Before and After the Adoption of the Euro,"</span></a> by <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan</span></a>, Mohsen Bahmani-Oskooee and Su Zhou.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo2;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>07-0702:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/Microsoft%20Word%20-%20KUTAN_Paper%20239%20_Contractionary%20Devaluation%20Emerging%20Economies_%20_2_.pdf"><span style='font-family:"Arial","sans-serif"'>"Are Devaluations Contractionary in Emerging Economies of Eastern Europe? "</span></a> <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan</span></a> and Mohsen Bahmani-Oskooee.</span></li> <li style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo2;tab-stops:list .5in" class="MsoNormal"><strong><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>07-0703:</span></strong> <span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><a href="http://www.siue.edu/BUSINESS/econfin/papers/Microsoft%20Word%20-%20KutanMuradoglu-Jul13_2007.pdf"><span style='font-family:"Arial","sans-serif"'>"Sectoral Stock Returns, the IMF, and the Asian Crisis,"</span></a> by <a href="http://www.siue.edu/BUSINESS/econfin/facpages/kutan.html"><span style='font-family:"Arial","sans-serif"'>Ali M. Kutan</span></a> and Gulnur Muradoglu.</span></li> </ul><!--EndFragment--> </li> </ul> <hr /> <p>Ali Kutan is a Professor of Economics and Finance at Southern Illinois University at Edwardsville, an associate member of the Emerging Market Group (<a href="http://www.cass.city.ac.uk/emg/index.html">EMG</a>), Cass Business School, London, a research fellow at the William Davidson Institute (<a href="http://www.wdi.bus.umich.edu/">WDI</a>), University of Michigan Business School, and a senior fellow at the Center for European Integration Studies (<a href="http://www.zei.de/">ZEI</a>), University of Bonn, Germany. His research interests include applied international finance, financial markets and institutions, and financial aspects of economic development. His recent work focuses on the transition economies of the Central and East Europe, China, Turkey, the EU and the U.S. His recent research topics include the determination of asset prices in emerging markets, the monetary aspects of the enlargement of the European Union, and the impact of IMF actions on emerging markets.</p> <p>Professor Kutan currently works on monetary policy issues regarding Polish economy as a member of an IMF research team. He was a visiting scholar at the Economic Research Department of the Federal Reserve Bank of St. Louis from August 1998 through August 1999. His research is supported through several agencies, including The National Council for Eurasian and East European Research, the U.S. Department of Education, and the William Davidson of Institute of the University of Michigan Business School. His paper on “Exchange Rate and Trade Policy on Transition Economies” won the “Paper Competition Award” through the Association for Comparative Economic Studies (ACES) in 1992 and his recent paper with Josef Brada on “Monetary Policy Convergence Between the Candidate Countries and the European Union” was the co-recipient of the best paper prize awarded by the Editorial Board of Economic Systems in summer 2001.</p> <p>Professor Kutan served as a consultant to the World Bank involving a project on enterprise behavior in the transition economies of Eastern Europe. He has recently provided management training for the Boeing Company in two locations, St. Louis and California, in the areas of international finance and business management.<br />He has published extensively in several economics and finance journals, including <em>Economic Inquiry, Economic Systems, Economics Letters, Economics of Transition, European Economic Review, Journal of Banking and Finance, Journal of Comparative Economics, Journal of Development Studies, Journal of International Money and Finance, Southern Economic Journal, Pacific-Basin Finance Journal, Review of Development Economics, Review of International Economics</em> and book volumes published by the New York University and MIT Press.</p> <p>In addition to his research, Professor Kutan serves as a referee for numerous professional journals. He is a member of several professional organizations, including the American Economic Association, American Finance Association, the Association for Comparative Economics, and the Financial Management Association. He serves at the editorial board of <em>Comparative Economic Studies, Economic Systems, and International Business and Economic Review</em>. Since joining the faculty in 1990, Professor Kutan has received several funded research grants from SIUE.</p> <p>He served as the co-editor of <a href="http://www.palgrave-journals.com/ces/index.html"><em>Comparative Economic Studies</em></a> from 2001 to 2003. He is currently the editor of <a href="http://www.mesharpe.com/mall/results1.asp?ACR=REE"><em>Emerging Markets Finance and Trade</em></a> (formerly <em>Russian and East European Finance and Trade</em>) and the American editor of <a href="http://www.elsevier.com/wps/find/journaldescription.cws_home/621171/description#description"><em>Economic Systems</em></a>.</p> <p>Professor Kutan teaches a variety of economics and finance courses, including international finance and financial econometrics for economics and finance majors, and international business courses for MBA students.<br /></p> <hr /><!-- #EndEditable --><br /><!--EndFragment--> </td> </tr> </tbody> </table> </td> </tr> </tbody></table>