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Ayesha Waqar

Dr. Ayesha Waqar is a Professor and permanent member of the faculty at the Lahore School of Economics. She brings over two decades of academic experience in economics, finance, and sustainable development, combining excellence in teaching, research, and institutional leadership.
A former Research Fellow at the University of Oxford, Dr. Waqar has worked extensively on issues of economic growth, sustainability, and financial systems within South and East Asian contexts. She has also served as Visiting Faculty at the Pakistan School of Public Policy, teaching Data Analysis and Policy Interpretation to senior civil service officers, and has received formal training in Case Method Teaching from Harvard Business School, Boston.
Dr. Waqar’s teaching portfolio spans Financial Economics, Development and Growth Economics, Monetary Economics, Risk Management, and Business Economics. She is known for her student-centered pedagogy, use of data-driven and experiential learning techniques, and commitment to mentoring undergraduate and graduate researchers. As a Faculty Mentor and Research Advisor at the Lahore School’s Innovation and Technology Centre, she has supervised numerous interdisciplinary theses on climate finance, sustainable development, and economic policy.
Her research focuses on sustainable finance, green and blue economies, and the role of financial systems in achieving sustainable growth. She has published widely in international journals, including Marine Policy, Resources Policy, Review of Accounting and Finance, Management of Environmental Quality, and Frontiers in Psychology. Her recent work, such as “Assessing the Blue Economy’s Impact on Carbon Mitigation and Growth Levels” (Marine Policy, 2025) and “The Nexus of Sustainable Finance, Digitalisation, and the Blue Economy” (Management of Environmental Quality, 2025), reflects her leadership in advancing interdisciplinary research on environmental and financial resilience. Beyond academia, Dr. Waqar has served as Project Economist for international development initiatives funded by the World Bank, USAID, and UNDP, focusing on carbon insetting, rural energy transitions, and sustainability-linked finance. She has also advised the Department of Finance, Government of Ras Al Khaimah (UAE) on fiscal risk and energy strategy and contributed to policy advisory projects for the Government of Punjab.
Her contributions have been recognized with multiple international awards, including Best Paper Awards at international conferences in Rome (2016) and Colombo (2015). She also plays an active role in institutional service as Patron of the Lahore School Finance and Investment Society, Team Leader for HEC Quality Assurance, and Editorial Board Member for journals including PLOS ONE, Review of Accounting and Finance, and The Lahore Journal of Business.
Dr. Waqar holds a PhD in Economics with specialization in Financial Economics, along with an MPhil and MSc in Economics and Finance from the Lahore School of Economics. She is a Gold Medalist for topping her class and a Silver Medalist for being placed on the Dean’s Honor List.

CV

SELECTED RESEARCH PUBLICATIONS

  1.  Assessing the blue economy's impact on carbon mitigation growth levels: Evidence from North and Latin America with SF Firdousi, MI Rafiq, Marine Policy 180, 106803, 2025
  2. From Capital to Climate: Analysing Green Investment Strategies in China's Insurance Sector for Sustainable Development with B Amir, SF Firdousi, MI Rafiq, Available at SSRN 5298233, 2025
  3. The nexus of sustainable finance, digitalisation and blue economy on carbon emissions and sustainable development: evidence from East Asia with B Amir, Management of Environmental Quality: An International Journal, 2025
  4. Do blue economic resources have potential for carbon management in ASEAN countries? An empirical assessment with L Belascu, JM Martinez-Gonzalo, M Awais, Review of Accounting and Finance, 2025
  5. Multiplayer Strategic Evolutionary Game Model Analysis on the Ban of Single-use Plastic Bags Under the Pakistan Environmental Protection Act 2019 with B Amir, SF Firdousi, SAGE Open 15 (1), 21582440251324722, 2025
  6. Climate change and the European banking sector: the effect of green technology adaptation and human capital, with JA Hasnaoui, S Firdousi, R Noor, Review of Accounting and Finance 23 (3), 394-418, 2024
  7. Poverty Alleviation Through Cash Transfer Program (BISP) in Pakistan, with R Noor © Lahore Journal Of Economics, 2024
  8. Can blue economic resources lower carbon emissions? Empirical evidence from ASEAN economies, with N Mirza, S Firdousi, M Awais, Empirical Evidence from ASEAN Economies, 2024
  9. The links between financial depth and economic variables: evidence from Poland With SF Firdousi, K Mahmood, The Journal of Risk Finance 24 (4), 449-463, 2023
  10. Nexus between FinTech, renewable energy resource consumption, and carbon emissions With SF Firdousi, B Amir, Environmental Science and Pollution Research 30 (35), 84686-84704, 2023
  11. Is saving the non-renewable resources worthwhile? Evidence of paradox of plenty on human capital development with J Hasnaoui, R Noor, A Banerjee, Resources Policy 83, 103728, 2023
  12. The influence of green finance availability to retailers on purchase intention: a consumer perspective with the moderating role of consciousness, with X Gu, SF Firdousi, B Obrenovic, B Amir, T Wu, Environmental Science And Pollution Research 30 (27), 71209-71225, 2023
  13. The role of fintech in promoting green finance, and profitability: Evidence from the banking sector in the euro zone, with N Mirza, M Umar, SF Firdousi, Economic Analysis and Policy 78, 33-40, 2023
  14. Do depositors discipline the banking sector? Evidence from an emerging economy with  N Mirza, S Firdousi, Review of Accounting and Finance 22 (2), 194-205, 2023
  15. The impact of green lending on banking performance: Evidence from SME credit portfolios in the BRIC with N Mirza, M Umar, M Skare, Economic Analysis and Policy 77, 843-850, 2023
  16. Is fintech the new path to sustainable resource utilisation and economic development? with M Awais, S Firdousi, A Hasnaoui, Resources Policy 81, 103309, 2023
  17. Investigating the resource curse: Evidence from MENA and N-11 countries with K Liu, Y Zhong, A Hasnaoui, XG Yue, Resources Policy 80, 103215, 2023
  18. The influence of big data analytic capabilities building and education on business model innovation with Y Cui, SF Firdousi, M Awais, Z Akram, Frontiers in Psychology 13, 999944, 2022
  19. The impact of financial development on environmental sustainability: A European perspective with B Xu, S Li, N Mirza, M Zhang, Resources Policy 78, 102814, 2022
  20. The influence of internet penetration on poverty and income inequality with SF Firdousi, A Waqar, M Awais, Sage Open 12 (3), 21582440221116104,2022
  21. Does the market discipline banks? Evidence from Balkan states with SF Firdousi, The Journal of Risk Finance 23 (4), 418-436, 2022
  22. Economic boom and busts lead to Human Capital changes? Evidence from Health expenditure changes in emerging economies with Y Zhang, W Deng, R Tao, Frontiers in Public Health 10, 936004,2022
  23. China’s Jinshan Yinshan sustainability evolutionary game equilibrium research under government and enterprises resource constraint dilemma with C Li, SF Firdousi, Environmental Science and Pollution Research 29 (27), 41012-41036, 2022
  24. The influence of internal and external stakeholder mechanisms on entrepreneurial success: the moderating role of digital technology adoption with C Yong, SF Firdousi, V Florjan?i?, M Awais, Frontiers in psychology 12, 821725, 2022
  25. Green finance and sustainable development in Europe with E Rasoulinezhad, Z Malik, Economic research-Ekonomska istraživanja 35 (1), 5150-5163, 2022
  26. Pakistan’s poverty puzzle: role of foreign aid, democracy & media with N Mirza, F Arshad, Economic research-Ekonomska istraživanja 34 (1), 368-382, 2021
  27. Market discipline in South Asia: evidence from commercial banking sector with N Mirza, F Arshad, International Journal of Finance & Economics 26 (2), 2251-2262, 2021
  28. Adam's Garden or Eve's?: A Gender-Centric Analysis of Corruption Perceptions with A Asif, Handbook of Research on Theory and Practice of Financial Crimes, 62-79, 2021
  29. The dark side of financial innovation: Deterrent for economic growth with AA Gauhar, Academy of Accounting and Financial Studies Journal 24 (5), 1-11, 2020
  30. Conditional vs unconditional cash transfers: a study of poverty demographics in Pakistan with M Mirza, F Arshad, Economic research-Ekonomska istraživanja 32 (1), 3360-3377,2019
  31. Cryptocurrencies, blockchain and regulation: A review with A Asif, © Lahore Journal of Economics, Volume 24; No. 1, 2019
  32. Determinants of Credit Infections: Evidence from Banking Sector in an Emerging Economy with N Mirza, A Mir, Lahore Journal of Business 6 (2), 47–62-47–62, 2018
  33. Impact of market discipline on the capital adequacy of banks: Evidence from an emerging economy, 12th International Conference on Business Management (ICBM), Sri Lanka, 2015
  34. Can current earnings predict future cash flows? A literature survey with N Mirza, SKA Rizvi, B Naqvi, Research Journal of Recent Sciences, 2013
  35. The impact of financial liberalization on the credit system of Pakistan: Historical perspective with N Mirza, Research Journal of Recent Sciences, 2013
  36. Interest rate spreads in an emerging economy: The case of Pakistan’s commercial banking sector with N Mirza, Economic research-Ekonomska istraživanja 25 (4), 987-1004, 2012
  37. Kamatni raspon u ekonomiji u razvoju: Slu?aj Pakistanskog komercijalnog bankarskog sektora with N Mirza, Economic research-Ekonomska istraživanja 25 (4), 987-1004, 2012
  38. Some Preliminary Evidence on Stock Price Bubbles in an Emerging Market, with N Mirza, The Romanian Economic Journal 15 (44), 55-86, 2012
  39. Size, diversification and risk: preliminary evidence from commercial banks in Pakistan with N Mirza, Pakistan Journal of Commerce and Social Sciences (PJCSS) 6 (2), 282-296, 2012
  40. Size and value premium in international portfolios: Evidence from 15 European countries with N Mirza© Czech Journal of Economics and Finance, 2011

 

CURRENT RESEARCH

  • Unveiling the Intersection of Environmental, Social and Governance, Green Finance and Environmental Performance in Europe (Journal of Competitiveness)
  • Artificial Intelligence (AI) and European Union’s Financial Sector: Navigating Accountability and Regulation (JRF)
  • Evaluating the Environmental Impact of Corporate Social Responsibility (CSR) in the European Union’s (EU) Climate Finance Landscape (Int. J. of Managerial and Financial Accounting)
  • The manuscript entitled "Forecasting The Influence of Inflation Reduction Act on USA’s Sustainability Paradigm (NRF)
  • The impact of financial innovation, financial inclusion, and human capital on National ESG rankings (Int. J. of Managerial and Financial Accounting)
  • Exploring the nexus of trade potential, economic expansion, and sustainable growth via Singapore’s net zero emissions policy (Journal of Contemporary Asia)
  • “From Capital to Climate: Analyzing Green Investment strategies in China’s Insurance Sector for Sustainable Development. (Journal of risk and insurance.)

 

POLICY ADVISORY ROLES

  1. Independent Director on the Board of Governors of
  • Pakistan State Oil
  • ZTBL
  • Printing Corporation of Pakistan

Serve on the Audit, Risk, and Human Resources Committees

  1. Manager Resource Mobilization SAMA^Verte, Pakistan
  2. Advisor and Mentor Pakistan Field Research Program, University of Oxford

 

INSTITUTIONAL LEADERSHIP & DEPARTMENTAL CONTRIBUTIONS

  • Research Advisor Innovation and Technology Centre                                                        
  • Team Leader, Quality Assurance                                                                                                 
  • Program Head, Lahore School Finance and Investment Society                                            
  • Student Councilor                                                                                                                          
  • Faculty Mentor for Pedagogy and Curriculum Development                                                                                                                           

 

HONOURS AND AWARDS

        Recognized for policy-relevant research impact and interdisciplinary innovation across economics, environmental science, and financial systems.

  • Received the Best Paper Presentation Award at the 4th International Conference on Advances in Social Science, Management and Human Behaviour in Rome, Italy, December 2016.
  • Received the Best Paper Presentation Award at the 12th International Conference on Business Management at BIMCH and University of Jayewardenepura, Colombo, Sri Lanka, December 2015.
  • Recipient of Gold and Silver Medals for Roll of Honour (Top) & Deans List (Top 10%) in Batch 2001.