Profile image of Shuddha Rafiq

Dr Shuddha Rafiq



Senior Lecturer


Faculty of Business and Law


BL Deakin Business School


Melbourne Burwood Campus


GCHE Exempt, Deakin University, 2014
Doctor of Philosophy, Curtin University, 2009
Master of Business Administration, Jahangirnagar University, 2001


Dr Shuddha Rafiq is a Senior Lecturer in the Department of Economics in Deakin Business School. Shuddha's general research interests lie in the domain of applied financial & panel data econometrics and natural experiments with a focus on energy, resources, environment, commodity markets, trade, climate change and financial markets. His current works include resources curse and political myopia, projecting post-crisis asset prices, identifying the impact of emissions reduction schemes in health and company outcomes and big data analyses of energy prices. Shuddha has published articles in several top-tier journals including Energy Economics, Economics Modelling, Applied Energy, Resources Policy, Australian Journal of Agriculture and Resources Economics, and Applied Economics. He is a regular reviewer for Australian Research Council (ARC) and highly ranked economics and finance journals. Shuddha is the Deputy Director of the Centre for Energy, Environment and Natural Disasters (CEEND) at Deakin Business School.

He teaches economics for managers; applied econometrics for economics and finance; and energy, environment and development to undergraduate and postgraduate students. Shuddha is a Deakin accredited supervisor with PhD and honours level research students.

He completed his PhD in Economics and Finance from Curtin University.

Read more on Shuddha's profile

Biography summary


Research interests

  • Applied Economics
  • Energy and Resources Economics
  • Commodity Market
  • Climate Change
  • Financial Markets


  • Member, American Economic Association.
  • Member, The Econometric Society.
  • Member, International Association for Energy Economics (IAEE).
  • Member, Australian Agricultural and Resource Economics Society.
  • Member, Economic Society of Australia.

Teaching interests

  • Economics for Managers
  • Energy and Envionment
  • Macroeconomics
  • Applied Econometrics for Economics and Finance
  • International Trade
  • Corporate Finance
  • Financial Econometrics

Units taught

  • MAE305 - Energy, Environment and Development
  • MAE306 - Applied Econometrics for Economics and Finance
  • MPE781/981 - Economics for Managers

Professional activities


  • Annual Early Career Researcher Commendation Award in Deakin Business and Law School, 2016. 
  • Best Pape Award in ANZAM 2016 (Sustainability and Social Issues in Management Steam), 2016. 
  • Highly Commended Paper of 2011 by Emerald Publication, 2012. 
  • Early Career Researcher Award, University of Southern Queensland, Australia, 2010. 
  • Best Student Paper award in 2nd International Association for Energy Economics (IAEE) Asian Conference, Perth, Western Australia, 2008. 


  • Nonlinear interactions among asymmetric commodity prices
  • Quatitative easing and commodity prices
  • Oil price asymmetry and trade
  • Climate change and trade
  • Political economy of energy markets


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Estimating cannibalizing effects of sales promotions: the impact of price cuts and store type

R McColl, R Macgilchrist, S Rafiq

(2020), Vol. 53, Journal of retailing and consumer services, Amsterdam, The Netherlands, C1

journal article

Does digital inclusion affect quality of life? Evidence from Australian household panel data

M Ali, K Alam, B Taylor, S Rafiq

(2020), Vol. 51, pp. 1-18, Telematics and Informatics, Amsterdam, The Netherlands, C1

journal article

Does urbanization increase pollutant emission and energy intensity? evidence from some Asian developing economies

R Salim, S Rafiq, S Shafiei, Y Yao

(2019), Vol. 51, pp. 4008-4024, Applied economics, Abingdon, Eng., C1

journal article

Do income distribution and socio-economic inequality affect ICT affordability? Evidence from Australian household panel data

M Ali, K Alam, B Taylor, S Rafiq

(2019), Vol. 64, pp. 317-328, Economic analysis and policy, Amsterdam, The Netherlands, C1

journal article

Energy, unemployment and trade

S Rafiq, R Salim, P Sgro

(2018), Vol. 50, pp. 5122-5134, Applied economics, Abingdon, Eng., C1

journal article

Student engagement in postgraduate education: using game theory to improve results

M Cohen, S Bhattacharya, M Nabin, S Rafiq

(2017), Vol. 2, pp. 1-15, Postgraduate education in higher education, Singapore, B1

book chapter

Effect of internal migration on the environment in China

S Rafiq, I Nielsen, R Smyth

(2017), Vol. 64, pp. 31-44, Energy economics, Amsterdam, The Netherlands, C1

journal article

The regulated coal sector and CO2 emissions in Indian growth process: empirical evidence over half a century and policy suggestions

M Bhattacharya, S Rafiq, H Lean, S Bhattacharya

(2017), Vol. 204, pp. 667-678, Applied energy, Amsterdam, The Netherlands, C1

journal article

Asymmetric oil shocks and external balances of major oil exporting and importing countries

S Rafiq, P Sgro, N Apergis

(2016), Vol. 56, pp. 42-50, Energy economics, Amsterdam, The Netherlands, C1

journal article

Urbanization, openness, emissions, and energy intensity: A study of increasingly urbanized emerging economies

S Rafiq, R Salim, I Nielsen

(2016), Vol. 56, pp. 20-28, Energy economics, Amsterdam, The Netherlands, C1

journal article

The moderating role of firm age in the relationship between R&D expenditure and financial performance: Evidence from Chinese and US mining firms

S Rafiq, Salim, R, Smyth, R

(2016), Vol. 56, pp. 122-132, Economic modelling, Amsterdam, The Netherlands, C1

journal article

Explaining commodity prices through asymmetric oil shocks: evidence from nonlinear models

S Rafiq, H Bloch

(2016), Vol. 50, pp. 34-48, Resources policy, Amsterdam, The Netherlands, C1

journal article

Economic growth with coal, oil and renewable energy consumption in China: Prospects for fuel substitution

H Bloch, S Rafiq, R Salim

(2015), Vol. 44, pp. 104-115, Economic Modelling, C1

journal article

The role of technology on the dynamics of coal consumption-economic growth: New evidence from China

M Bhattacharya, S Rafiq, S Bhattacharya

(2015), Vol. 154, pp. 686-695, Applied Energy, C1

journal article

Mortgage-Backed Securities (MBS): Is it a curse or a blessing for the Australian home loan market? A natural experiment

M Nabin, S Bhattacharya, S Rafiq

(2015), Vol. 54, pp. 104-120, Australian Economic Papers, C1

journal article

Agriculture, trade openness and emissions: an empirical analysis and policy options

S Rafiq, R Salim, N Apergis

(2015), Vol. 59, pp. 1-18, Australian journal of agricultural and resource economics, London, Eng., C1

journal article

Determinants of renewable energy adoption in China and India: a comparative analysis

S Rafiq, H Bloch, R Salim

(2014), Vol. 46, pp. 2700-2710, Applied economics, Abingdon, Eng., C1

journal article

Does oil price volatility matter for Asian emerging economies?

S Rafiq, R Salim

(2014), Vol. 44, pp. 417-441, Economic analysis and policy, Chatswood, NSW, C1

journal article

Quest for energy security in Bangladesh : an outlook of the future

S Rafiq

(2012), pp. 365-391, Bangladesh at 40 changes and challenges, Dhaka, Bangladesh, B1-1

book chapter

Why do some emerging economies proactively accelerate the adoption of renewable energy?

R Salim, S Rafiq

(2012), Vol. 34, pp. 1051-1057, Energy Economics, C1-1

journal article

Coal consumption, CO 2 emission and economic growth in China: Empirical evidence and policy responses

H Bloch, S Rafiq, R Salim

(2012), Vol. 34, pp. 518-528, Energy Economics, C1-1

journal article

The linkage between energy consumption and income in six emerging economies of Asia: An empirical analysis

S Rafiq, R Salim

(2011), Vol. 6, pp. 50-73, International Journal of Emerging Markets, C1-1

journal article

Identifying the determinants of renewable energy consumption in leading renewable energy investor emerging countries

S Rafiq, D Alam, Khorshed

(2010), pp. 1-14, ACE 2010 : Proceedings of the 39th Australian Conference of Economists, Sydney, N.S.W., E1-1


Temporal Causality between Energy Consumption and Income in Six Asian Emerging Countries

Shuddhasattwa Rafiq, Ruhul Salim

(2009), Vol. 55, pp. 335-350, Applied Economics Quarterly, C1-1

journal article

Impact of crude oil price volatility on economic activities: An empirical investigation in the Thai economy

S Rafiq, R Salim, H Bloch

(2009), Vol. 34, pp. 121-132, Resources Policy, C1-1

journal article

Causality and dynamics of energy consumption and output : evidence from non-OECD Asian countries

S Rafiq, R Salim, A Hassan

(2008), Vol. 33, pp. 1-26, Journal of economic development, Seoul, Korea, C1-1

journal article

Funded Projects at Deakin

No Funded Projects at Deakin found


No completed student supervisions to report