Dr Harsha Dutta joined Imperial Business School as Assistant Professor of Finance, bringing with him a research agenda that bridges financial economics with development and political economy. Dr Dutta joins us after finishing his PhD in Finance at The Hong Kong University of Science & Technology (HKUST). 

His work scrutinises the unique incentives and constraint that households and firms face in developing economies, shedding light on how financial markets and local politics in these economies shape long-term growth and inequality.  

“I’m looking forward to working alongside Imperial’s exceptional business scholars and the broader research community,” he says. “London's historical position as a global financial centre, combined with its rich archival resources, provides an inspiring environment for uncovering new insights from the past to inform modern financial policies.”

Finance findings with an inclusion lens 

Dr Dutta’s research focuses on how changes to incentives force strategic adaptations that result in different economic outcomes for different sections of the society. His work uncovers insights from novel and unconventional empirical settings, using unique datasets to answer questions that are often difficult to explore in traditional markets. His findings not only advance finance scholarship but also generate insights relevant for policymakers seeking to design more inclusive and effective institutions.  

His research draws insights from both contemporary economies and historical contexts. For example, his paper “Unequal Legacies of Financial Crises: Evidence from the Panic of 1873” traces the long-term effects of America’s first major economic depression. Using railroad records and census data across four generations, he shows how urban families displaced during the crisis experienced enduring disadvantages—poorer education, jobs and wealth compared to the unaffected. Such findings provide fresh perspectives on how financial shocks can shape inequality for more than a century. 

Dr Dutta’s research has been recognised by leading institutions. He was awarded the SBM PhD Research Excellence Award (2024–25) at HKUST, where he completed his doctoral studies, as well as the Best PhD Paper Award at the HKUST Business School PhD Conference. His work has also attracted grant funding from the NSE–NYU Stern Initiative on the Study of Indian Capital Markets, a joint venture of the National Stock Exchange of India (NSE) and the Center for Global Economy and Business at NYU Stern School of Business. 

By examining evidence from distinctive historical and development settings, Dr Dutta illuminates mechanisms often hidden in conventional data. His approach underscores not only the economic but also the social and political implications of financial systems.  

His broader academic contributions include publications in top-tier general interest journals such as Science Advances. His work has enabled him to provide new evidence on key questions in financial economics while generating insights relevant for both academic research and policy design.  

Shaping financial dialogue for students at Imperial 

Dr Dutta is eager to continue exploring how the interplay between financial systems and institutions shapes economic outcomes, while contributing to the School’s interdisciplinary approach to business research. By drawing on his expertise in both historical and contemporary settings, he aims to teach students to think beyond conventional boundaries and uncover hidden patterns, fostering dialogue across economics and policy and equip them with know-how to identify how today's policy changes and market shifts will create tomorrow's unintended consequences. 

Dr Dutta brings fresh perspectives to the study of finance and his arrival at Imperial signals an exciting step forward in the School’s ambition to deepen understanding of how financial systems can promote growth while addressing inequality in an interconnected world.