Sel Dibooglu


Teaching Areas

Major Fields of Research


International Finance

Financial Economics

Financial Economics

Money and Banking

Macro-Monetary Economics 

International Finance

Economic Development 

Time Series and Forecasting






Ph.D. Economics, Iowa State University, Ames, IA, 1993. 

M.A. Economics, Ankara University, Ankara, Turkey, 1988.

B.Sc. Economics, Gazi University, Ankara, Turkey, 1985.


Academic Positions


Professor, Department of Economics, University of Missouri St. Louis. August 2007-

Associate Professor, Department of Economics, University of Missouri St. Louis. August 2003-2007.

Associate Professor, Department of Economics, Southern Illinois University at Carbondale, August 1999-2003.

Visiting Associate Professor, Department of Economics, University of Illinois at Urbana Champaign,  June 2003-August 2003

Visiting Associate Professor, Department of Economics, University of Illinois at Urbana Champaign,  June 2002-August 2002

Visiting Scholar, Department of Economics, University of Illinois at Urbana Champaign, August 2001- May  2002 

Visiting Associate Professor, Department of Economics, University of Illinois at Urbana Champaign, August 2000- August 2001

Assistant Professor, Department of Economics, Southern Illinois University at Carbondale, August 1993 - July 1999. 


Refereed Publications


Global Liquidity and Financial Stress: Evidence from Major Emerging Economies,”(with N. Kirci-Cevik and E.I Cevik), Emerging Markets Finance and Trade, December 2016, pp. 2790-2807.


“The Effect of North Korean Threats on Financial Markets in South Korea and Japan” (with E.I. Cevik), Journal of Asian Economics, 43(2), April 2016, pp. 18-26


“Real and Financial Sector Studies in Central and Eastern Europe: A Review,” (with N. Kirci-Cevik, and A. Kutan), Czech Journal of Economics and Finance, 66(1): pp. 2-31.


“Financial Stress and Economic Activity in Some Emerging Asian Economies,” (with E.I. Cevik and T. Kenc), Research in International Business and Finance  36(1), January 2016, pp. 127–139.


“Monetary and Fiscal Policy Interactions and Sustainable Policy Mix: Evidence from Emerging European Economies,” (with E. I. Cevik and A. Kutan). Journal of Comparative Economics.  December 2014, 42(4), pp. 1079-1091.


“Measuring Financial Stress in Transition Economies” (with E.I. Cevik and A. Kutan), Journal of Financial Stability, 9(4) December 2013, pp. 597-611. PDF.


“Asymmetry in the Unemployment–Output Relationship Over the Business Cycle: Evidence from Transition Economies”, (with E.I. Cevik, S. Barisik), Comparative Economic Studies, 55(4), December 2013, pp. 557-581. PDF.


“Persistence and non-linearity in US unemployment: a regime-switching approach” (with E.I. Cevik), Economic Systems, 37(1), March 2013, pp. 61-68. PDF.


“Measuring Financial Stress in Turkey,” (with E. I. Cevik, and T. Kenc),  Journal of Policy Modeling, 35(2) March-April 2013, pp. 3370-83. PDF.


“Can macroeconomic indicators predict a currency crisis? Evidence from selected Southeast Asian countries,” (with S. Budsayaplakorn, I. Mathur),  Emerging Markets Finance and Trade, 46(6), November-December 2010, pp. 5-21.  (PDF)


“The 2007-2009 Financial Crisis, Global Imbalances and Capital Flows: Implications for Reform,” (with T. Kenc),  Economic Systems 34(1), March 2010, pp. 3-24.  (PDF).


“Income Inequality And The Business Cycle: A Threshold Cointegration Approach (with G. Hoover and D. Gideman), Economic Systems 33(3), September 2009, pp. 278-292 (PDF).


“Welfare Cost of Inflation in a Stochastic Balanced Growth Model” (with T. Kenc), Economic Modelling, May 2009, 26(3), pp. 650-658.  (PDF).


 “All Time Cheaters Versus Cheaters in Distress: an Examination of Cheating in OPEC and Oil Prices” (with S. Algudhea), Economic Systems 31( 3), September 2007, pp. 292-310. (PDF)


“Do Retail Gasoline Prices Rise More Readily than They Fall? A Threshold Cointegration  Approach” (with S. Algudhea and T. Kenc), Journal of Economics and Business 59(6), November-December 2007, pp. 560-574.   (PDF)


“The Spirit of Capitalism, Growth, and Asset Pricing in a Small Open Economy,” (with T. Kenc) , Journal of International Money and Finance  26(8), December 2007, pp. 1378-1402.    (PDF)

“The Exchange Rate System and Macroeconomic Fluctuations in Sub Saharan Africa” (with Y. Sissoko), Economic Systems, June 2006, 30(2), pp. 141-156.  (PDF)


Volatility Spillovers and Contagion during the Asian Crisis: Evidence from Six Southeast Asian Stock Markets, (with K. Chancharoenchai), Emerging Markets Finance and Trade. March-April 2006, 42(2), pp. 4-17.  (PDF)


“Stock Returns and the Macroeconomic Environment prior to the Asian Crisis in Selected Southeast Asian Countries” (with K. Chancharoenchai and I. Mathur), Emerging Markets Finance and Trade, 41(4), July-August 2005, 38-56. (PDF)


"Sources of Inflation and Output Fluctuations in Poland and  Hungary:  Implications for Full Membership in the European Union." (with A. Kutan),  Journal of Macroeconomics, 27(1), March 2005, 107131. (PDF)


"Oil Prices, Terms of Trade Shocks, and Macroeconomic Fluctuations in Saudi Arabia" (with E. Aleisa),  Contemporary Economic Policy, 22(1), January 2004, 50-62. (PDF)


"Inflation, Output, and Stabilization in a High Inflation Economy: Turkey, 1980-2002" (with A. Kibritcioglu),  Journal of Economics and Business, 56(1), February 2004, 43-61. (PDF)


"Relationships among US Oil Prices and Oil Industry Equity Indices", (with S. Hammoudeh and A. Aleisa), International Review of Economics and Finance, 2004, 13: 427-453. (PDF)


"On Commerce, Institutions, and Underdevelopment: A Comparative Perspective,"  Knowledge, Technology and Policy, 2003, 15: 12-23. (PDF)


"Inflationary Expectations and Costs of Disinflation: A Case for Costless Disinflation  in Turkey?" In: Kibritcioglu, A., L. Rittenberg, and F. Selcuk (eds.), Inflation and Disinflation in Turkey, Aldershot Ashgate 2002. (PDF)


"Contagion Effects from the 1994 Mexican Peso Crisis: Evidence from Chilean ADRs," (with I. Mathur, K. Gleason, and M. Singh), The Financial Review. February 2002, 37: 17-34. (PDF)


"Sources of Real Exchange Rate Movements in Saudi Arabia" (with E. Aleisa),  Journal of Economics and Finance. Spring 2002, 26: 101-110.(PDF)


"Long Run Purchasing Power Parity with Asymmetric Adjustment," (with W. Enders), Southern Economic Journal. October 2001, 68: 433-45. (PDF)


"Do Real Wages Respond Asymmetrically to Unemployment Shocks? Evidence from the U.S. and Canada," (with W. Enders), Journal of Macroeconomics, Fall 2001, 23: 495-515. (PDF)


"Long Run Economic Growth: An Interdisciplinary Approach", (with A. Kibritcioglu). Knowledge, Technology and Policy, Winter 2001, 13: 59-70. (PDF)


"Sources of Real Exchange Rate Movements in Transition Economies: The Case of Poland and Hungary," (with A. Kutan), Journal of Comparative Economics, June 2001, 29: 257-75. (PDF)


"The Behavior of the Real Exchange Rate under Fixed and Floating Exchange Rate Regimes," (with F. Koray), Open  Economies Review. April 2001, 12: 123-43. (PDF)


"Aggregate Supply, Domestic Absorption, and Terms of Trade: A Structural Decomposition of the U.S. Trade Balance," International Trade Journal, Summer 2000, 14: 147-168.(PDF).


"International Monetary Regimes and Incidence and Transmission of Macroeconomic Shocks: Evidence from the Bretton Woods and Modern Floating Periods," Southern Economic Journal, January 2000, 66: 590-608. (PDF)


"The Impact of U.S. and Japanese Economies on Korea and Malaysia after the Plaza Accord," (with S.Y. Chua and S.C. Sharma), Asian Economic Journal, March 1999, 13: 19-37. (PDF)


"Inflation under the Bretton Woods: The Spillover Effects of U.S. Expansionary Policies," Atlantic Economic Journal, March 1999, 27: 74-85. (PDF)


"Forward Speculation, Excess Returns, and Exchange Rate Variability: The Role of Risk Premiums," Review of International Economics, August 1998, 6: 427-40. (PDF).


"The Incidence and Effects of Macroeconomic Disturbances under Alternative Exchange Rate Systems: Evidence since the Classical Gold Standard," International Review of Economics and Finance, 1998, 7: 225-41. (PDF)


"Accounting for U.S. Current Account Deficits: An Empirical Investigation," Applied Economics, June 1997, 29: 787-93. (PDF).


"Optimum Currency Areas and European Monetary Unification," (with Julius Horvath), Contemporary Economic Policy, January 1997, 15: 37-49. (PDF)


"Real Disturbances, Relative Prices, and Purchasing Power Parity," Journal of Macroeconomics, Winter 1996, 18: 69-87. (PDF)


"Multiple Cointegrating Vectors and Structural Economic Models: An Application to the French Franc/ U.S. Dollar Exchange Rate," (with Walter Enders). Southern Economic Journal, April 1995, 61:  1098-1116. (PDF)


"Sustainable Agricultural and Food Policies: An American Perspective," (with Arne Hallam). In Farm Structure and Food Consumption: Tradition versus Progress in the United States and Japan, pp 97-116. Tweeten, L. et al. eds., Westview Press: Boulder, CO, 1993.


Other Refereed Publications

“CC2D2A Is Mutated in Joubert Syndrome and Interacts with the Ciliopathy-Associated Basal Body Protein CEP290,” (with N. T. Gorden et al.). The American Journal of Human Genetics, 83(5) October 2008, pp. 559–571.


Book Reviews

"New Perspectives on Economic Growth and Technological Innovation" by F.M. Scherer, Brookings Institution Press, Washington D.C., 1999.  Knowledge Technology and Policy, Summer 1999, 12: 84-88.

Review of “Gifts of Athena: Historical Origins of the Knowledge Economy by Joel Mokyr, Princeton University Press, Princeton, 2002.  Knowledge Technology and Policy, Fall 2003, 16: 163-165.

Honors and Awards

  • 2001  Faculty Appreciation Award, College of Liberal Arts, Southern Illinois University
  • 2000  Faculty Appreciation Award, College of Liberal Arts, Southern Illinois University
  • 1988  Board of Higher Education Ph.D. Scholarship.
  • 1985  Graduated with highest honors, Gazi University


Applied Economics

Applied Financial Economics

Contemporary Economic Policy

Economic Modelling


Empirical Economics

Emerging Markets Finance and Trade

German Economic Review

International Business and Economic Review

Journal of Macroeconomics

Journal of Productivity Analysis

Journal of Economic Integration 

Journal of Comparative Economics

Journal of Economics and Finance

Journal of International Economics

Journal of International Money and Finance

Journal of International Financial Markets, Institutions and Money

Knowledge, Technology and Policy

Manchester School

Review of International Economics

Quarterly Review of Economics and Finance

Review of Development Economics

Southern Economic Journal

Weltwirtschaftliches Archiv