Ph.D., Auburn University, 1993.
M.A., Thammasat University, 1984.
Major: Economics
Degree in Economics, Tribhuvan University, 1978.
Major: Economics
Kamal Upadhyaya was born and raised in Nepal. As a Ford Foundation scholar, he completed his M.A. in Economics at Thammasat University in Bangkok, Thailand. He then returned to Nepal, where he joined the Center for Economic Development and Administration (CEDA) in Kathmandu as part of their research team. Afterward, Dr. Upadhyaya relocated to Dar-es-Salaam, Tanzania, to serve as a Program Officer with the United Nations Development Programme (UNDP). He later pursued a PhD at Auburn University, earning his doctorate in 1993.
Before joining the University of New Hampshire (UNH), Dr. Upadhyaya held faculty positions at Salisbury University in Maryland, Penn State University (Berks campus), and Lehigh Valley College.
See MoreFrom 2007 to 2014, Kamal served as Chair of the Department of Economics and Finance at UNH. Under his leadership, the department launched the B.A. in Economics with a concentration in Business Analytics. Dr. Upadhyaya primarily teaches courses in microeconomic theory, macroeconomic theory, and international economics.
Dr. Upadhyaya is a prolific researcher, ranked in the top 5% of authors by RePEc. In recognition of his exceptional research contributions, he was designated a University Research Scholar from 2008 to 2017. He has published over 125 research papers in prestigious journals such as Applied Economics, Economics Letters, Economic Inquiry, Journal of Development Studies, International Trade Journal, Public Choice, Resource and Energy Economics, and Southern Economic Journal. Additionally, Dr. Upadhyaya is the editor of the American Business Review and serves on the editorial boards of the Journal of Financial Economics and Policy and the American Journal of Economics and Sociology.
For more details on his research, please visit his Google Scholar profile.
“Forecasting foreign direct investment using optimized Hausdorff fractional multivariate grey Bernoulli model” (with G. Duman and E. Kongar), Journal of Financial Economic Policy, 2025.
“Oil price shocks and the macroeconomy: new evidence from Eastern European countries” (with Frank Mixon and Hem Basnet), Applied Economics, 2025.
“Government Debt Service, Interest Rates, and Macroeconomic Stability: A Conceptual Approach” (with Richard Cebula, Jason Jolly, and Frank Mixon), Theoretical and Applied Economics, 2025.
"Family Strategies: Labor Migration, Multigenerational Households, and Children’s Schooling in Nepal" (with Mark Schafer and Krishna Paudel), American Journal of Economics and Sociology, 2025.
“Stock Markets Cycles and Macroeconomic Dynamics” (with Punit Vatsa, Hem Basnet, and Frank Mixon), International Advances in Economic Research, 2024.
Committees or Markets? An Exploratory Analysis of Best Paper Awards in Economics (with Frank Mixon and Benno Torgler), Economies, 2022.
Remittances-Inflation Nexus in South Asia: An Empirical Examination” (with Basnet and Donou-Adonsou), Journal of Financial Economic Policy, 2021.
"Cooperation and Spillover in Health Care R&D: Theory and Evidence" (with S. Caudill, Faria and Mixon, Jr), Economic Modeling, 2020.
"Is there a J‐curve in China‐U.S. trade?" (with Frank Mixon, Jr. and Rabindra Bhandari), International Journal of Finance & Economics, 2020.
“Exchange Rate Volatility and Exports: Some New Estimates from ASEAN–5” (with Dharmendra Dhakal and Frank Mixon, Jr.), Journal of Developing Areas, 2020.
“Factors affecting COVID-19 mortality: an exploratory study” (with Ashish Upadhyaya, S. Koirala, and R. Ressler), Journal of Health Research, 2020.
For the detail of his research please click his google scholar link below:
https://scholar.google.com/citations?user=Zl6AUdEAAAAJ
Franklin G. Mixon, Jr. and Kamal P. Upadhyaya, The Political Economy of Private Saving in the U.S.: Evidence on the Social Opportunity Costs of Public Policy, Writers Club Press, Lincoln., 2002.
Franklin G. Mixon, Jr. and Kamal P. Upadhyaya, Legislative Television as Political Advertising: A Public Choice Approach,iUniverse, Inc., New York, 2003
"Ideology in the Principles of Economics Classroom" in Franklin G. Mixon, Jr. edited Shaping the Learning Curve, iUniverse, New York, 2005, pp. 98-109.
Basnet, H. and Upadhyaya, K. P. International Trade and Finance Association Meeting, "Do Remittances Attract Foreign Direct Investment?," Montreal, Canada. (May 2013).
Upadhyaya, K. P., Basnet, H., Eastern Economic Association meeting, "Macroeconomic Impacts of Oil Price Changes in selected Asian Countries," New York. (March 2013).
Upadhyaya, K. P., Dhakal, D., Thapa, S., International Academy of Business and Public Administration Discipline, "Remittances, FDI and Economic Growth in South Asia; Evidence from Panel Data," Las Vegas, Nevada. (October 2012).
Upadhyaya, K. P., Bhandari, R., Rainish, R., International Trade and Finance Association Meeting, "Exchange Rate Adjustment and Output in Selected Southeast Asian Countries," Pisa, Italy. (May 2012).
Upadhyay M. and Upadhyaya, K. P., "Impact of Remittance on Inflation and Exchange Rate in South Asia," South Asian Conference, Madison, Wisconsin. (October 2011).
Upadhyaya, K. P., Bhandari, R., "Exchange Rate Volatility and FDI in South Asia," American Economic Association Meeting, Denver, Colorado. (January 2011).
Cakan, E. (Author & Presenter), Doytch, N. (Author), Upadhyaya, K. P. (Author), Southern Economic Association Meeting, "Impacts of US Economic News on Emerging Financial Markets," Southern Economic Association Meeting, Atlanta, Georgia. (November 2010).
Upadhyaya, K. P., Ejara, D. D., Nag, R., "Opinion Polls and the Stock Market: Evidence from the 2008 U.S. Presidential Election," Midwest Economic Association, Evanston, Illinois. (March 2010).
Mensz, P., Upadhyaya, K. P., "Impact of Oil Prices on Output and Inflation in Latin America," 73rd Annual Meeting of Midwest Economic Association, Cleveland, Ohio. (2009).
Upadhyaya, K. P., Doytch, N., Mixon, F., "Employment Effects of Mergers and Acquisition in the United State by Sector," Southern Economic Association Meeting, San Antonio, Texas. (November 2009).
Upadhyaya, K. P., Rainish, R., Bhandari, R., "Exchange Rate Adjustment and Output in Selected Southeast Asian Countries," Southern Economic Association Meeting, San Antonio, Texas. (November 2009).
Upadhyaya, K. P., Rainish, R., Phelan, J. J., "Currency Devaluation and Aggregate Output in East Africa," Midwest Economic Association, Cleveland, Ohio. (March 2009).
Upadhyaya, K. P., "Impact of Oil Price on Output and Inflation in Latin America," Midwest Economic Association, Cleveland, Ohio. (March 2009).Upadhyaya, K. P., Dhakal, D., Pradhan, G., "The Relationship Between Trade, FDI and Economic Growth: Evidence from South Asia," Midwest Economic Association, Cleveland, Ohio. (March 2009).
Upadhyaya, K. P., "Economic Integration of Nepal with India and Its Growth Implications," Allied Social Science Association Meeting, San Francisco, California. (January 2009).
Upadhyaya, K. P., Gentle, P., Chen, W., "The Inflation-Unemployment:Trade-off Significance of the Interest Rate," Southern Economic Association Meeting, Washington, District of Columbia. (November 2008).
Upadhyaya, K. P., Dhakal, D., Pradhan, G., "Exchange Rate Uncertainty and Foreign Direct Investment: Evidence from East Asia," Midwest Economic Association, Chicago, Illinois. (March 2008).
Upadhyaya, K. P., Dhakal, D., Kulkarni, K., "Estimating Consumption Function in an Open Economy Setting," Allied Social Science Association Meeting, New Orleans, Louisiana. (January 2008).
Sencicek, M. and Upadhyaya, K. P., "Are Devaluations Contractionary? The Case of Turkey," Southern Economic Association Meeting, New Orleans. (November 2007).
Upadhyaya, K. P., Dhakal, D., Pradhan, G., "Another Look at the Overlapping Demand Theory of Trade," Western Economic Association. (July 2007).
Upadhyaya, K. P., Gentle, P., Paudel, K., "Real Wages, Real Interest Rates and the Phillips Curve: Evidence form Canadian Data," Midwest Economic Association, Minneapolis, Minnesota. (March 2007).
Upadhyaya, K. P., Pradhan, G., Dhakal, D., "Nepal and Bhutan: Development Strategies and Growth," South Asian Conference, University of Wisconsin. (October 2006).
Upadhyaya, K. P., Dhakal, D., "Determinants of Foreign Direct Investment in Eastern and Central Europe," Midwest Economic Association, Chicago. (March 2006).
Upadhyaya, K. P., Pradhan, G., Dhakal, D., "Foreign Aid, FDI and Economic Growth in East European Countries," Southern Economic Association, Washington, D.C. (November 2005).
Upadhyaya, K. P., Sencicek, M., "Demand for Money, Economic Crises and Currency Substitution in Turkey," International Business & Economics Research (IBER) Conference, Las Vegas, Nevada. (October 2005).
Upadhyaya, K. P., Dhakal, D., "Foreign Direct Investment, Remittances and Economic Growth," Federation of Business Discipline, Dallas. (March 2005).
Upadhyaya, K. P., Dhakal, D., "Determinants of Private Saving in South Asia," Midwest Economic Association, Chicago, Illinois. (March 2004).
Upadhyaya, K. P., Shuster, J., Pradhan, G., "Exchange Rate Uncertainty and the Level of Investment in Selected Southeast Asian Countries," Southern Economic Association, San Antonio, Texas. (November 2003).
Upadhyaya, K. P., Dhakal, D., "Nepalese Economy during the Panchayat and the Multi-Party Regimes," Midwest Economic Association, St. Louis. (March 2003).
Upadhyaya, K. P., Dhakal, D., Pradhan, G., "Financial Liberalization and Economic Growth: Empirical Evidence from India and Sri Lanka," Southern Economic Association, Tampa. (November 2001).
Upadhyaya, K. P., Mixon, F., "Merger Activity and Unemployment in the United States," Southern Economic Association, Washington, D.C. (November 2000).
Upadhyaya, K. P., Pradhan, G., "Explaining the Recent Decline in the U.S. Dollar," Southern Economic Association, New Orleans. (November 1999).
Upadhyaya, K. P., Larson, J., Mixon, F., "The Impact of Environmental Regulation on the Blue Crab Industry in Maryland," Southern Economic Association, New Orleans. (November 1999).
Pradhan, G. and Upadhyaya, K. P.., "Government Budget Deficits and National Saving," Southern Economic Association, Baltimore. (November 1998).
Upadhyaya, K. P., Dhakal, D., Mixon, F., "Exchange Rate Adjustment and Output in Developing Countries," Southern Economic Association, Atlanta. (November 1997).
Mehmet S., and Upadhyaya, K. P., "Are Devaluations Contractionary: Some New Empirical Results," Southern Economic Association, Washington, DC. (November 1996).
Upadhyaya, K. P., Dhakal, D., "Relationship between the U.S. and Foreign Interest Rates: An Empirical Study," Southern Economic Association, Washington DC. (November 1996).
Upadhyaya, K. P., Mixon, F., Dhakal, D., "Do Devaluations Improve Trade Balances? Evidence from Four South Asian Countries," Southern Economic Association, New Orleans. (November 1995).
Upadhyaya, K. P., Dhakal, D., "The Effect of Devaluation on the Trade Balance: Further Empirical Evidence," Southern Economic Association, Orlando, Florida. (November 1994).
Upadhyaya, K. P., Mixon, F., "The Effect of Regulation on the Price of Electricity: Some New Results," Southern Economic Association, Orlando, Florida. (November 1994).
Upadhyaya, K. P., Dhakal, D., "Neutrality of Money and the Fisher Hypothesis: Further Empirical Evidence," Southern Economic Association, New Orleans. (November 1993).
Upadhyaya, K. P., Mixon, F., "The Transactions Cost Theory of Vertical Integration in the Trucking Industry," Southwestern Society of Economists, New Orleans. (March 1993).
Upadhyaya, K. P., "Monetary Model of Exchange Rate Determination: An Empirical Examination of the Canadian/U.S. Dollar Exchange Rate during," Missouri Valley Economic Association, Memphis, TN. (February 1993).
Upadhyaya, K. P., "The Effect of Regulation on the Price of Electricity: Evidence from Time Series Data," Southern Economic Association, Washington, DC. (November 1992).
Upadhyaya, K. P., Mixon, F., "Transactions Costs and Uncertainty in the Leasing Decision: The Case of the Trucking Industry," Southern Economic Association, Washington, DC. (November 1992).
Upadhyaya, K. P., Raymond, J. E., "What Can Regulators Regulate? The Case of Electricity Revisited," Southern Economic Association, Nashville,TN. (November 1991).
" Economic Impact of the University of New Haven in New Haven County in 2009" (with Richard Highfield), 2010 .
Economist/Econometrician, Impact of Environmental Regulation on the Blue Crab Industry in Maryland, Maryland Department of Natural Resources, 1997
External Examiner, Bilquees Azra, Aligarh Muslim University, 2013.
External Examiner, Ikbal Jafar Ansari, Aligarh Muslim University, 2012.
External Examiner, Kallu S. Reddy, Ph.D., Pondicherry University, India , 2010.