ADWC Business faculty member Dr. Shibeshi Ghebre Kahsay has won admiration among students and staff members for the recent publication of a book of economic analysis, co-edited with Jagdish Handa of McGill University, Canada.
The volume, Studies in East Asian Economies: Capital Flows, Exchange Rates and Monetary Policy, is the fruit of several years of Dr. Kahsay’s research and collaboration with other scholars.
In studying capital flows and other economic questions in East Asia, Dr. Kahsay and his collaborators confirmed some widely held beliefs while also turning up some surprises. “For example, many people believe that there was an exchange rate misalignment in Southeast Asian currencies before the crisis of 1997, but that was not true,” he asserted.
Other significant findings relate to the contribution of capital inflows to economic growth.
When discussing the study of economics with students, Dr. Kahsay emphasizes both its challenges and its usefulness. ”If you are interested in understanding what’s going on around the world, economics is the best subject to help you understand,” he insists.
It is also important in daily life, he declared, to help people “distinguish between opinion and facts, develop their reasoning capacity and make better decisions”. In addition, the study of business and economics is good preparation for careers in the financial industry and government.
Dr. Kahsay, though, prefers teaching to these other jobs. “My first job was in the financial industry. I gave it up for teaching, and it turns out that teaching gives me more satisfaction,” he said with sincerity. “Academics is my main interest—teaching and learning.”
Although the book is targeted at graduate students, researchers, and other specialists, Dr. Kahsay sees a close link between research and teaching. “You have to keep updating yourself, so doing research encourages you to read more and to adjust to new developments in theory and practice,” he explained. In addition, Dr. Kahsay notes, “Teaching is disseminating knowledge, but generating knowledge through research is also a faculty responsibility.”
Dr. Jace Hargis, Director of ADWC and an author himself of many scholarly works, congratulated Dr. Kahsay on his achievement. “Dr. Kahsay has expanded knowledge in the field of economics and at the same time has shown students how to pursue excellence in whatever they are doing. Whether a faculty member chooses to explore applied knowledge or theoretical research, constantly seeking to improve in both teaching and learning is key to our efforts at ADWC.”