Curriculum Vitae: February 2018

Curriculum Vitae: February 2018:

Murali Patibandla

Present Position:

Professor, Indian Institute of Management, Bangalore since 2004 Bangalore-560076, India, E-mail: [email protected]

Academic Qualifications:

Fulbright Post-Doctoral Scholar, University of California, Berkeley, 1998-1999: I was mentored by Oliver E. Williamson, Nobel Laureate, One of the founding fathers of New Institutional Economics and the most cited economist in the World.

Ph. D. Economics 1994. With specialization in International Economics, Industrial Organization, Micro Economics .Thesis, `Firm Size and Export Behaviour’. Jawaharlal Nehru University, India.

M.A. 1982. Economics, University of Alberta, Canada.

M.A. 1977. Economics, Nagarjuna University, Guntur Andhra Pradesh, India.

Impact Factor of My Research

“The free market mechanism of the western advanced capitalist nations functions on the basis of underlying economic and political institutions that have evolved through painstaking process over time. The following illustration shows the importance of institutions in the efficient functioning of capitalism. One of the indicators of economic development of nations is productivity of workforce. In the mainstream neoclassical economics, productivity is determined by capital and technology. A worker who has access to capital and better technology is more productive than the one who works with inferior technology and less amount of capital. However, this is only a partial explanation. A worker with similar skills and access to similar technology in India may still turn out to be less productive than the one in the U.S because of the inefficient market institutions he or she operates in. Let us take three basic elements of economic institutions to discuss this issue- property rights, incentives and transaction costs. A person refrains from investing his/her efforts in a particular activity (durable asset) if he or she is not sure of appropriating the returns on the investment, particularly if there is fear of appropriation from the state and other private agents. A productive worker is not motivated if rewards within an organization are not based on relative performance of peers, that is, organizations (and societies) fail to adopt incentive compatible practices. A worker would turn out to be less productive in a given activity if he or she has to divert her time and resources in dealing with transaction costs (searching, information processing, paper work, long queues, etc).”

- From page 2 of Patibandla, Murali, Evolution of Markets and Institutions: A Study of an Emerging Economy, Routledge and Taylor and Francis, New York, London, June 2006. Paper backs 2009, 2011, 2014, 2015, 2016, 2017.

I am listed among the top authors in Law, Economics and Business by the Academic Search International with H-index of 3 (impact factor of my research).

There are about 10000 citations of my research in Google Scholar, SSRN and Research Gate.

Academic Publications

Books:

Patibandla, Murali, “ Evolution of Markets and Institutions: A Study of an Emerging Economy”, Routledge and Taylor and Francis, New York, London, June 2006. Paper backs 2009, 2011, 2014, 2016 and 2017. Reviewed by Lord Meghnad Desai in Economica, 75(298), May 2008- “This, then, is an ambitious book. …the book will repay a close study by all who are interested in development issues.”

“Murali Patibandla's ambitious book combines his broad knowledge of the literature (in the New Institutional Economics, contract theory, and organization theory) with his deep knowledge of the polity and economy of India. He examines both recent successes and earlier failures of economic reform programs in India, with special emphasis on how the vitality of firms and markets are influenced by and are interactive with changes in economic policy. Patibandla's interpretation of these events is edifying; and his comparisons of India with other nation states (especially China) are fascinating. This provocative book will be influential among academics and policy makers alike.”

- Oliver E. Williamson, Nobel Laureate 2009, One of the major founding fathers of New Institutional Economics and the most cited Economist in the World (See Google Scholar).

“An outstanding, clear-eyed analysis of the growth and evolution of the Indian economy – Murali Patibandla’s book is an absorbing read. The author provides a well-researched, and highly insightful study of India’s growth, the structural changes within its markets and institutions, and the reform challenges today. This book is essential reading for business students and managers alike.”

-Narayana Murthy The Founder and Chairman Infosys Technologies, Bangalore Eighth-Most-Admired Business Leader in World (Burson-Marsteller/the Economist Intelligence Unit)

Rajesh Kumar and Murali Patibandla (Eds) “Institutional Dynamics and the Evolution of the Indian Economy” Palgrave and MacMillan New York, 2009.

“This edited volume highlights the interplay between the evolving institutions and the growing economic dynamism of the Indian economy. The book provides a state of the art interdisciplinary review of the Indian political economy and cultural psychology and it draws upon the contribution of academic scholars who are intimately familiar with India.”

2 - the Review of the Book in Amazon, 2017.

Academic Book Forthcoming:

“Domestic Industrial Structure, Institutions, International Trade and Investment Behavior of Firms in an Emerging Economy: India” Oxford University Press New York.

Non Academic Book:

Murali Patibandla 2015 “A Garden with a Broken Fence” Penguin (Partridge), a collection of my

poetry. See Barnes & Noble.Com and Abe books come and all other major websites of the world.

Non-Academic Book Forthcoming: Collection of my poetry:

“I forgot to fly kites” Notion Press Chennai India

Work in progress of collection of my poems tentatively titled “All those songs of the shores of Gods”

Academic Articles New Institutional Economics:

Patibandla M, 31st May, 2016, “Institutional Corruption: Few Issues” IIMB working paper. Avinash K. Dixit, distinguished university professor of Princeton University, who has been doing very important research on institutions and corruption, gave valuable comments. The article was discussed in the leading newspaper of India, FIRSTPOST “Demonetization: Manmohan Singh writes a scathing critique of his own incompetence” Dec 9, 2016 by Sreemoy Talukdar:

Patibandla, M. 2016. “Divergence and Convergence of Firm-level Best Practices: the Case of Bajaj and Hero-Honda in India’s Two-Wheeler Industry” Journal of East-West Business, Vol 22, No 4. 351-368. Listed Among Top Read Research in Research Gate, 2017. One of the referees commented:

3 “Quite an interesting paper on a less researched topic. I complement author for taking the topic. (See the changes to be made in the attached file as well)” and ”The paper is on an interesting topic and has high potential.” Nobel Laureate Michael Spence made the following comment on the paper: “Nice paper Murali, Thank you, Mike” Avinash Dixit highly distinguished university professor of Princeton University and Padma Vibhushan commented on the paper as follows: “ I liked the paper but don’t have enough expertise in the specific context of the case or the empirical methodology to offer any useful substantive comments.”

Patibandla, M. 2006, “Equity Pattern, Corporate Governance and Performance: A Study of India’s Corporate Sector”, Journal of Economic Behavior and Organization, Vol 59, 29-44. Rated among the top ten papers by the Science Direct.

Patibandla, M and B. Petersen. 2002, “Role of Transnational Corporations in the Evolution of a High-tech Industry: The Case of India’s Software Industry”, World Development, Sept 30(9). Considered Original Research by the Journal.

Patibandla, M and B. Petersen. 2004, “Role of Transnational Corporations in the Evolution of a High-Tech Industry: The Case of India’s Software Industry- A Reply”, World Development, March. Considered original research by the Journal.

Patibandla, M. 1995, “Firm Size and Export Behaviour: An Indian Case Study”, The Journal of Development Studies, August, Vol.31 No.6.

Patibandla, M. 1998, “Structure, Organizational Behavior and Technical Efficiency: The Case of an Indian Industry”, Journal of Economic Behavior and Organization. March, 34(3) 419-434.

Patibandla, M., and P. Chandra. 1998, “Organizational Practices and Employee Performance: The Case of the Canadian Primary Textile Industry”, Journal of Economic Behavior and Organization, vol. 37(4), 431-442.

Patibandla, M. 2002, “Policy Reforms, and Evolution of Market Structure in an Emerging Economy”, The Journal of Development Studies, February, vol.38, no.3, 95-118.

Patibandla, M. 2016. “Foreign Direct Investment in India’s Retail Sector and Farmers’ Productivity” Focus paper of Productivity Journal. Vol.57, No. 3, October-December. This is my third paper on this issue. I have been emphasizing the importance of supply chain that incorporates transaction and information costs in reducing incidence of farmers’ debt-trap and suicides.

Patibandla, M. 2013, “The New Institutional Economics: Its Relevance to Curbing Corruption”, Listed and praised by mostlyeconomics.wordpress.com. Economic and Political weekly, March 2.

Patibandla, M. 2014. “ Macroeconomics Discipline at the Cross-Roads: A Comment”, Jindal Journal of Business Research.

Patibandla, M. 2007, “Pattern of Foreign Direct Investment in Developing Economies: A Comparative Analysis of China and India”, International Journal of Management and Decision Making. Google Scholar Citations: 11.

Patibandla M. 2012, “Dynamics of Joint Ventures between Multinational Enterprises and Local Firms in Emerging Economies: The Case of Financial Services”, Jindal Journal of Business Research, December Vol 1(2).

Patibandla M, 2013. “Foreign Direct Investment in India’s Retail Industry: Some Issues”, Focus paper of Productivity Journal Focus Paper, July.

Patibandla, M. 2014. “Implications of Foreign Direct Investment in India’s Retail Sector”, IIMB Management Review, December.

Patibandla, M and R. Prusti,.1998, “The East Asian Crisis as a Result of Institutional Failures: Lessons for India”, Economic and Political Weekly, February 28-March 6, 469-472. Google Scholar Citations: 8.

Patibandla, M. 1998, “Economic Reforms and The Criticality of Institutions: A Few Issues in the Indian Context”, paper presented in a conference organized by Indian Merchant Chambers and Times Guarantee, 3 February, Bombay.

Patibandla, M. 1997, “Defunct Economists and Economic Policy”, Economic and Political Weekly, May 24. Google Scholar Citations:16

5 Patibandla, M and T Sastry. 2004, “Capitalism and Cooperation: A Few Issues on Cooperative Institutions in a Developing Economy”, Economic and Political Weekly, July 3. Google Scholar Citations: 11.

Patibandla, M and A Sanyal. 2009` “Corruption: Market Reforms and Technology” in Rajesh Kumar and Murali Patibandla (Edited) , Institutional Dynamics and Evolution of the Indian Economy Palgrave macmillan: New York.

Patibandla, M, 2002. “Foreign Direct Investment in China: A New Perspective”, Economic and Political Weekly, November 23.

Ghemawat, P., and M. Patibandla. 2000, “India's Exports Since the Reforms: Three Analytic Industry Studies”, Political Economy of India’s Reforms, edited by Jeffrey Sachs and A. Varshney, N. Bajpai, New Delhi: Oxford University Press.

Ghemawat, P and M. Patibandla. 1998, “India’s Exports Since Reforms”, Economic and Political Weekly, May 16-22. Google Scholar Citations: 46

Patibandla, M., Deepak Kapur and Bent Petersen. 2000, “Import Substitution with Free Trade: the case of India’s Software Industry”, Economic and Political Weekly, April. This paper was discussed in Foreign Policy by Kumar Ketkar, one the leading journalists of India, 2000 summer. Google Scholar Citations: 36.

Rafiq Dossani and Murali Patibandla. 2010 “Preparing India’s Workforce for Knowledge Economy” in Dimimitris G. Assimakopoulos, Elias G. Carayannis and Rafiq Dossani `Knowledge Perspective: a Comparative Approach’, Springer Book Series.

Rafiq Dossani and Murali Patibandla. 2010 “Technology and Educational Challenges in a Globalizing World- A Case Study of India” in the Handbook of Technology Management, 3 Volume Set, Hosseing Bidggole, Editorin-Chief, John Wiley & Sons, Inc.,

Patibandla, M. 1988, “Role of Large and Small Firms in India’s Engineering Exports”, the Industry and Management Review, Economic and Political Weekly, May 28. Google Scholar Citations: 16.

Patibandla, M and A Sanyal. 2005, Foreign Investment and Productivity: a Study of Post-Reform Indian Industry, Review of Applied Economics, January. Google Scholar Citations: 19. Patibandla, M. 1992, “Industrial Decontrol and Competition Policy: A Few Conceptual Issues”, Economic and Political Weekly, November 28.

Patibandla, M. 1992, “Scale Economies and Exports in an Import Substituting Regime: Some Observations for Indian Industry”, Economic and Political Weekly, Feb. 29. Google Scholar Citations: 10.

6 Patibandla, M., and H.K. Amarnath, 1994, “An Analysis of Short Run Price Instability of Cotton Yarn”, Economic and Political Weekly, August 27.

Patibandla, M. 1993, “Factor and Product Market Distortions, Production Efficiency and International Trade”, Economic and Political Weekly, November 27.

Patibandla, M. 1996, “International Trade and Long Term Economic Growth: A Few Issues of Growth Strategy for India”, Economic and Political Weekly, November 30, No .48.

Patibandla, M. 1996, “Exports and Liberalization: A Simple Industrial Organization Approach”, the Indian Economic Journal, January-March.

Patibandla, M. 1994, “New Theories of International Trade: A Survey of Literature”, the Indian Economic Journal, January-March.

Patibandla, M. 2002, “Product Differentiation and Market Demand for Transnational Corporations in an Emerging Economy”, the Indian Economic Journal, January

Patibandla, M. 2002, “Import of Food Products and the Need for High Tariffs”, Economic and Political Weekly, May.

Patibandla, M and B.V. Phani 2002, “Market Reforms and Industrial Productivity: An Explanation”, Economic and Political Weekly, January.

Patibandla, M. 1996, Domestic Prices and World Prices, Economic and Political Weekly, December 26.

Patibandla, M. 1996, Import Tariffs as Strategic Policy Signals, Economic and Political Weekly, June 15.

Patibandla, M., and M.Mallikarjun. 1996, Economic Reforms and Industrial Growth, Economic and Political Weekly, May 11.

Patibandla, M. 1995. Import Protection and Exports, Economic and Political Weekly, July 22.

Patibandla, M, 1988, Import Liberalization and Engineering Industry: Some Issues for Short Term Adjustment, Economic and Political Weekly, Dec. 24-31.

Case Studies:

With Pankaj Ghemawat and William Couglin, 2002, India’s Software Industry at the Millennium, Harvard Business School, Case: 9-700-036. Google Scholar Citations: 32.

Emerging landscape and New value propositions in the Civil Aviation Sector: In conversation with Captain Gopinath, MD, Air Deccan, IMR Review.

Research under Progress:

7 Academic article: “Technological Change and Labor Market Dynamics: the Case India’s Software Industry”. Rapid technological changes in the recent times have been causing profound structural dynamics in labor markets which are destroying jobs at the middle-level skills and generating jobs at the high-end skills. This paper examines how highly technology and export oriented India’s software industry has been adopting to the technological changes in the international markets in the context labor market imperfections of India’s higher educational institutions. India’s higher educational institutions produce large number generic skills of varying quality. This was discussed in great length in my paper with Rafiq Dossani in the Hand Book of Technology Management listed before. India’s higher educational institutions do not produce sufficient number and high quality specialized skills of doctorates. One of the ways some of the leading India’s software enterprises are dealing with these labor market failures is by internalizing skill development. However, this has limitations. We have been working on the paper for the last three years with several revisions in the theory and empirical analysis. We hope the paper will see the light in a year time.

Academic Article: Governance and Development: a Comparative Organization Approach.

Public and Private Partnerships in Infrastructure Investments: A Transaction Cost Approach with Rupal Sethi

Research Agenda:

My research agenda for next six years is working on a few academic articles and a book.

The working title of the book is “Economic Development Dynamics of an Emerging Economy: the Case of India”. The book will make a distinction between the definition and measurement of economic growth and economic development. Economic growth is generally defined and measured as growth in Gross Domestic Product (GDP) and per-capita income. This has several limitations as it does not capture the costs of negative externalities such as air, water pollution and environmental damage. As a matter of fact, if a country cuts forests and makes timber it shows as increase in GDP and per-capita income. Since 1980, Chinese economy grew at average annual growth rate of 10 percent and China lifted 600 million people out of poverty. However, this has been at the cost of environmental damage and poor labor standards.

Economic development is a broader concept which takes into account of institutions at the social, political and economic levels and costs of negative externalities of private and public investments by defining private and common property elements of especially of non-renewable resources of countries and the world as a whole. The UN development indices define economic development in terms of quality of life: status of women, child mortality, literacy, sanitation, extreme income-inequalities and their impact on social, economic and political institutions of countries.

These issues involve a very complex and hard tasks at hand. The book aims to capture some of these issues in the context of India: most diverse, pluralistic country with a complex functioning of federal democracy in the world. Nobel Laureate Michael Spence in his book “The Next Convergence (2011)” calls India “a modern miracle’.

Teaching:

I have been learning a great deal from my students since 1994 when I joined Indian Institute of Management Ahmedabad, India as assistant professor.

Indian Institute of Management Bangalore India since 2004:

I developed MBA elective “International Business”. I have been teaching the course since 2004. The course has been popular with students. There were 78 students in 2016. I had the honor to have a student who is a son of daily-wage earners.

I developed doctoral course “the Theory of the Firm”. I have been teaching the course since 2004.

I taught the course on Strategy for three years.

I guided three doctoral theses. I have been on examination committee of doctoral theses both internally and externally.

I guided quite a few independent studies (CCS) of students.

I gave a few lectures to policy makers and executives of the management training programs of the institute.

Copenhagen Business School, Denmark 1999-2004:

I developed MBA elective,“ Information Technology and International Business”. I taught it for a year.

I taught courses on International Business, Microeconomic Theory.

I guided several Masters Theses.

Indian Institute of Management Ahmedabad, India 1994-1998:

I taught first year MBA course Microeconomic Theory for three sections. Students rated the course 8/10.

I developed and taught MBA elective ‘International Trade and Finance’. The course became the most popular course by the third year.

I guided one doctoral thesis.

I guided students of Teacher Training Program.

I gave few lectures to policy makers and executives of management training programs.

Honors and Distinctions:

I was awarded Life Time Achievement for contribution to Economics by Venus International Foundation November 2017.

Shri Narayana Murthy released my book “Evolution of Markets and Institutions: A Study of an Emerging Economy” at the Indian Institute of Management Bangalore, August 2006. It was reported by the leading newspapers of India such as The Hindu, The New Indian Express, Deccan Herald, The Times of India, Business Standard, Vijay Times, Malayala Manorama, and Sunday Times of India.

I was invited key note speaker on India at the prestigious symposium “Rise of the Next Giants?: Anatomy of BRICs” organized by Institute of Developing Economies, Tokyo, Japan, December, 20, 2006. Eminent economist (late) Alice Amsden, author of highly influential book “Asia’s Next Giant: South Korea and Late Industrialization” was the key note speaker. Experts from China, Russia and Brazil presented papers on their respective countries.

I was on the highly prestigious and competitive National Selection Committee for the 2014-2015 Fulbright-Nehru Academic and Professional Excellence Fellowships. I had the honour to enquire distinguished scholars from all over India on disciplines such: Arts, Dance, Literature, History, Philosophy, Religion, Psychics, Psychology, Economics and Management.

I am invited to be Key Note/Chair speaker on Higher Education at the World Education Day-2017 with the theme of “ Inheritance, Innovation, Development, and Philanthropy” to be held September 27 -29, 2017 in Dalian China. The details can be seen:

Invited to be keynote speaker for a international conference on Globalization by Tripude Institute of Management Education Nagpur India.

Papers presented at EEA, Washington (D.C); M.I.T., Cambridge; McGill University; NEU, Boston; I.S.I, Delhi; Rutgers University; OECD, Paris; London Business School; Aarhus School of Business, Denmark, the Kellogg School of Business.

Awards:

Fulbright Post-Doctoral Fellowship, 1998.

Pre-Doctoral Fellowship, The United Nations University, the Netherlands 1993. I presented two seminars within three months and fifteen days of the Fellowship.

Refereeing for Professional Academic Journals:

Journal of Economic Behavior and Organization, Journal of Development Studies Journal of Economics and Management Strategy, Review of Development Economics, Journal of International Business Studies, Journal of Comparative Economics, Policy and Politics, Journal of World Business, Industry and Innovation, World Development, Journal of East-West Business.

I serve on the Editorial Boards of ‘Industry and Innovation’, Routledge and Taylor and Francis Journal and Journal of Global Business Research.

Research Grants:

Confederation of Danish Industries, 2002. The Danish Agency for International Development, 2000.

Consultancy Experience:

I mentored the company Brain League started by my former PGSEM student Arun Narasani, NSRCEL center of Indian Institute of Management Bangalore for three years.

I was consultant for Confederation of Indian Industry for three months, 1993. I produced the project on “Competition Policy”, which was published in Economic and Political Weekly of India.

I was a consultant for National Institute of Public Finance and Policy for 1991-92. I produced the project on “Short-Run Price Instability of Cotton Hank Yarn” which was published in Economic and Political Weekly of India.

Research Assistant/Associate:

ICRIER from 1983 to 1991.

I assisted the project on Hand Crafts Exports of India for two and half years.

I did a project on India’s Exports for the Ministry of Commerce of India for two years.

While working for ICRIER I worked on my doctoral thesis “Firm Size and Export Behaviour” for which I was awarded doctoral degree from Jawaharlal Nehru University, 1994.

Administration Experience:

I functioned as the Chairperson of Corporate Strategy and Policy Area of Indian Institute of Management Bangalore, India for three years.

I was seminar coordinator for three years at Copenhagen Business School, Denmark.

I was seminar coordinator for three years at ICRIER.

Referee:

Prof. Oliver E. Williamson Nobel Laureate The Haas School of Business The University of California, Berkeley Berkeley, CA 94720-1900 USA Tel: 510-642-8697; Fax: 510-642-4700 E-mail: [email protected]

Prof Michael Spence Nobel Laureate

Prof Avinash K Dixit Distinguished University Professor Princeton University