Dr. Bushra Naqvi is the Associate Professor of Finance (with Tenure) at Suleman Dawood School of Business, Lahore University of Management Sciences. She teachers in the area of Economics and Finance and her research interests lie in the field of monetary and financial economics, financial markets, international finance, financialization of natural and technological resources, corporate governance and financial risk management.  

Dr. Naqvi earned her doctorate in Economics Sciences from University of Paris 1– Panthéon Sorbonne in 2011. During her stay at La Sorbonne, she worked under the supervision of Prof. Christian Bordes (Member ECB Shadow Council); and has also been affiliated with many renowned Economists and Financial Analysts including Prof. Christian de Boissieu (Former Chief Economic and Financial Advisor to French Prime Minister), Prof. Patrick Artus (Director Research at NATIXIS Bank and former member of French Economic Think Tank) and Prof. Bertrand B. Maillet (Executive Head of Research at ABM AMRO, Paris Subsidiary).

Dr. Naqvi has produced several research publications over the years. She enjoys working in collaboration with other researchers which not only widened the research horizon but also established key linkages with prestigious business schools and their renowned faculty. As a fruitful outcome of research collaboration, she has successfully written quality research papers and has produced publications in ABS and ABDC listed journals like ‘Finance Research Letters’, ‘Journal of Asset Management’, ‘Pacific-Basin Finance Journal’, ‘Quantitative Finance’, ‘Applied Financial Economics’, ‘Resources Policy’, ‘Economic Modelling’, ‘Research in International Business and Finance’ and ‘Economic Research’. Dr. Naqvi was also the recipient of competitive research grant twice during the years 2013 – 2016 offered by USAID, IFPRI and Planning Commission of Pakistan.

Teaching has been an equally important highlight of Dr. Naqvi’s career along with research. She has developed and taught different courses within the domain of Economics and Finance. She has been teaching several distinctive courses at the undergraduate, graduate and PhD level, and has also been involved in executive trainings. She also does her best to relate academic content to real world scenarios, using her own research publications as well as other reputed articles to supplement theoretical teaching materials. She believes it encourages students to better understand theoretical work. She also invests considerable time in her students outside the traditional classroom and tries to give her best to students in an advisory capacity, be it regarding course choices or development of their professional or future academic goals.

In addition to teaching and research, Dr. Naqvi has served in key administrative roles at her institution, LUMS, as well as other institutions. At SDSB, LUMS, she served as Associate Dean Academics of Graduate programs from 2018-2020. She had also been the Director of MBA program at SDSB for a year. Outside of LUMS, the recognition of her services in Financial Risk Management is supported by her association with the community of risk managers at Global Association of Risk Managers (GARP). Asides, she is the serving Director at Punjab Pension Fund (PPF), Punjab General Provident and Investment Fund (PGPIF), and Punjab Municipal Development Fund Company (PMDFC). These appointments prove that even policymakers in the government have equally acknowledged her services.

Dr. Naqvi is wholeheartedly committed to teaching and research; and aims to contribute to the field through quality teaching and applied scholarship in the years to come.

Bai, J., Han, Z., Rizvi, S. & Naqvi & Naqvi, B. (2023). Green trade or green technology? The way forward for G-7 economies to achieve COP 26 targets while making competing policy choices. Technological Forecasting and Social Change.

Naqvi, B., Rizvi, S., Mirza, N. & Umar & Umar, M. (2023). Financial market development: A potentiating policy choice for the green transition in G7 economies. International Review of Financial Analysis.

Tao, R., Su, W., Naqvi, B. & Rizvi & Rizvi, S. (2022). Can Fintech development pave the way for a transition towards a low-carbon economy: A global perspective. Technological Forecasting and Social Change.

Rizvi, S., Yarovaya, L., Mirza, N. & Naqvi & Naqvi, B. (2022). The impact of COVID-19 on the valuations of non-financial European firms. Heliyon.

Su, W., Rizvi, S., Naqvi, B., Mirza & Mirza, N. & Umar, M. (2022). COVID19: A blessing in disguise for European stock markets?. Finance Research Letters.

Umar, M., Mirza, N., Rizvi, S. & Naqvi & Naqvi, B. (2022). ESG scores and target price accuracy: Evidence from sell-side recommendations in BRICS. International Review of Financial Analysis.

Rizvi, S., Naqvi, B., Boubaker, S. & Mirza & Mirza, N. (2022). The power play of natural gas and crude oil in the move towards the financialization of the energy market. Energy Economics.

Naqvi, B., Rizvi, S., Hasnaoui, A. & Shao & Shao, X. (2022). Going beyond sustainability: The diversification benefits of green energy financial products. Energy Economics.

Rizvi, S., Naqvi, B., Mirza, N. & Umar & Umar, M. (2022). Safe haven properties of green, Islamic, and crypto assets and investor's proclivity towards treasury and gold. Energy Economics.

Mirza, N., Rizvi, S., Naqvi, B. & Yarovaya & Yarovaya, L. (2022). The resilience of Islamic equity funds during COVID-19: Evidence from risk-adjusted performance, investment styles, and volatility timing. International Review of Economics and Finance.

Wang, P., Han, W., Rizvi, S. & Naqvi & Naqvi, B. (2022). Is Digital Adoption the way forward to Curb Energy Poverty?. Technological Forecasting and Social Change.

Khalid, R., Shehzad, C. & Naqvi, B. (2022). Impact of capital account liberalization on stock market crashes. International Journal of Finance & Economics.

Umar, M., Rizvi, S. & Naqvi, B. (2021). Dance with the devil? The nexus of fourth industrial revolution, technological financial products and volatility spillovers in global financial system. Technological Forecasting and Social Change, 163.

Li, J., Naqvi, B., Rizvi, S. & Chang & Chang, H. (2021). Bitcoin: The biggest financial innovation of fourth industrial revolution and a portfolio's efficiency booster. Technological Forecasting and Social Change, 162 (120383), doi:https://doi.org/10.1016/j.techfore.2020.120383.

Naqvi, B., Mirza, N., Rizvi, S., Poradar-Rochon & Poradar-Rochon & M &ITani, R. (2021). Is there a green fund premium? Evidence from twenty seven emerging markets. Global Finance Journal, 50.

Rizvi, S., Naqvi, B. & Mirza, N. (2021). Is green investment different from grey? Return and volatility spillovers between green and grey energy ETFs. Annals of Operations Research.

Umar, M., Ji, X., Mirza, N. & Naqvi & Naqvi, B. (2021). Carbon neutrality, bank lending, and credit risk: Evidence from the Eurozone. Journal of Environmental Management, 296.

Guan, L., Zhang, W., Ahmad, F. & Naqvi & Naqvi, B. (2021). The volatility of natural resource prices and its impact on the economic growth for natural resource-dependent economies: A comparison of oil and gold dependent economies. Resources Policy.

Hasnaoui, J., Rizvi, S., Reddy, K., Mirza & Mirza, N. & Naqvi, B. (2021). Human capital efficiency, performance, market, and volatility timing of Asian equity funds during COVID-19 outbreak. Journal of Asset Management, 22.

Zhang, Z., Naqvi, B., Rizvi, S. & Cai & Cai, X. (2021). How exchange rate regimes are exacerbating or mitigating the resource curse?. Resources Policy, 72(02).

Rizvi, S., Mirza, N., Naqvi, B. & Rahat & Rahat, B. (2020). Covid-19 and Asset Management in EU: A Preliminary assessment of Performance and Investment Styles. Journal of Asset Management, 21, 281-291, doi:https://doi.org/10.1057/s41260-020-00172-3.

Naqvi, B., Rizvi, S. & Shahzad, A. (2020). Selection of Retirement Saving Plan for a Private Sector Employee in Pakistan. Asian Journal of Management Cases, doi:https://doi.org/10.1177/0972820120939363.

Mirza, N., Naqvi, B., Rahat, B. & Rizvi & Rizvi, S. (In Press 2020). Price Reaction, Volatility Timing and Funds' Performance during Covid-19. Finance Research Letters, 36 (101657), doi:https://doi.org/10.1016/j.frl.2020.101657.

Su, C., Naqvi, B., Shao, X., Li & Li, J. & Jiao, Z. (2020). Trade and technological innovation: The catalysts for climate change and way forward for COP21. Journal of Environmental Management, 269 (110774), doi:https://doi.org/10.1016/j.jenvman.2020.110774.

Mirza, N., Rahat, B., Naqvi, B. & Rizvi & Rizvi, S. (In Press 2020). Impact of Covid-19 on Corporate Solvency and Possible Policy Responses in EU. Quarterly Review of Economics and Finance, doi:https://doi.org/10.1016/j.qref.2020.09.002.

Li, Y., Naqvi, B., Caglar, E. & Chou & Chou, C. (2020). N-11 countries: Are the new victims of resource-curse?. Resources Policy, 67 (101697), doi:https://doi.org/10.1016/j.resourpol.2020.101697.

Rizvi, S., Naqvi, B. & Tanveer, F. (2019). Is Pakistan Ready to Embrace Fintech Innovation?. Lahore Journal of Economics, 23 (2), 151-182.

Naqvi, B., Rizvi, S., Uqaili, H. & Chaudhry & Chaudhry, S. (2018). What Drives Global Financial Reintermediation by Islamic Banks?. Pacific-Basin Finance Journal, (52), 5-25, doi:https://doi.org/10.1016/j.pacfin.2017.12.001.

Naqvi, B., Rizvi, S., Mirza, N. & Reddy & Reddy, K. (2018). Religion Based Investing and Illusion of Islamic Alpha and Beta. Pacific-Basin Finance Journal, (52), 82-106, doi:https://doi.org/10.1016/j.pacfin.2018.02.003.

Rizvi, S., Naqvi, B., Mirza, N. & Bordes & Bordes, C. (2017). Fear of Floating in Asia and the Credibility of True Floaters?. Research in International Business and Finance, 42 (2017), 149-160.

Reddy, K., Mirza, N., Naqvi, B. & FU & FU, M. (2017). Comparative Risk Adjusted Performance of Islamic Socially Responsible and Conventional Funds: Evidence from United Kingdom. Economic Modelling, doi:https://doi.org/10.1016/j.econmod.2017.07.007.

Naqvi, B., Mirza, N., Naqvi, W. & Rizvi & Rizvi, S. (2017). Portfolio Optimization with Higher Moments of Risk at Pakistan Stock Exchange. Economic Research-Ekonomska Istrazivanja, 30 (1), 1594-1610, doi:http://dx.doi.org/10.1080/1331677X.2017.1340182.

Rizvi, S., Rubbaniy, G., Naqvi, B. & Hartog & Hartog, S. (2015). Co-Movement Between CDSs, Bonds and Stocks in European Financial Markets. European Journal of Economics, Finance and Administrative Sciences, 72 (Feb 2015), 97-109.

Naqvi, B., Rizvi, S., Rubbaniy, G. & Hartog & Hartog, S. (2015). Does Continental Trading Co-Move? A Pre, Post and Amid Financial Crisis Analysis of CDS, Stock and Bond Markets. Journal of International Finance and Economics, 15 (3), 7-22.

Rizvi, S., Naqvi, B., Bordes, C. & Mirza & Mirza, N. (2014). Inflation Volatility: an Asian Perspective,. Economic Research-Ekonomska Istrazivanja, 27 (1), 280-303.

Rizvi, S., Naqvi, B. & Mirza, N. (2014). 'Afraid of Float' to Benign Neglect', A Jolting Ride of SBP on the Roller Coaster of Exchange Rate Regime. The Lahore Journal of Economics, 19 (2), 17-34.

Rubbaniy, G., R, A., Rizvi, S. & Naqvi & Naqvi, B. (2014). Do Fear Indices help Predict Stock Returns. Quantitative Finance, 14 (5), 931-847.

Rizvi, S., Naqvi, B. & Mirza, N. (2013). Asset Prices, Financial Stability and Monetary Policy. Journal of Basic and Applied Scientific Research, 3 (1), 818-822.

Rizvi, S., Naqvi, B. & Mirza, N. (2013). Choice of Anchor Currencies and Dynamic Preferences for Exchange Rate Pegging in Asia. The Lahore Journal of Economics, 18 (2), 37-49.

Mirza, N., Naqvi, B. & Rizvi, S. (2013). The Dynamics of Exchange Rate Regime in Saudi Arabia. Actual Problems of Economics, 9 (147), 430-437.

Rizvi, S. & Naqvi, B. (2013). Time Varying Equity Market Beta as an Index of Financial Openness. Applied Financial Economics, 23 (11), 921-928.

Rizvi, S. & Naqvi, B. (2012). Inflation targeting as a Plausible Monetary Framework for India. Research Journal of Recent Sciences, 1 (12), 74-78.

Rizvi, S. & Naqvi, B. (2012). What Does Pakistan Have to Join Inflation Targeters Club, A Royal Flush or A Seven-Deuce Offsuit. The Lahore Journal of Economics, 17 (2), 35-62.

Rizvi, S., Naqvi, B. & Rizvi, S. (2011). Global and Regional Financial Integration of Asian Stock Markets. International Journal of Business and Social Sciences, 2 (9), 82-93.

Rizvi, S., Naqvi, B. & Rizavi, S. (2011). Taking Risk for Making Loss! The Case of Karachi Stock Exchange. Interdisciplinary Journal of Contemporary Research in Business, 2 (12), 807-815.

Rizvi, S., Naqvi, B., Rizwan, M. & Rizavi & Rizavi, S. (2011). Pakistan's Accumulation of Foreign Exchange Reserves during 2001-2006: Benign or Hostile Excessive or Moderate! Intent or Fluke. Pakistan Journal of Commerce & Social Sciences.

Rizvi, S. & Naqvi, B. (2010). Asymmetric Behavior of Inflation Uncertainty and Friedman-Ball Hypothesis: Evidence from Pakistan. The Lahore Journal of Economics, 15 (2), 1-33.

Naqvi, B. (2014). The Case of Municipal Bonds in Pakistan, Published. CRC Number 02-604-2014-2, Case Research Centre, Lahore University of Management Sciences.

Naqvi, B. (2014). Municipal Bonds – A Source of Capital for the Government, Published. CRC Number 02-605-2014-2, Case Research Centre, Lahore University of Management Sciences.

Naqvi, B. (2013). Pakistan's Economic and Financial Future: Must-Know for Leaders, Published. CRC Number 02-602-2013-2, Case Research Centre, Lahore University of Management Sciences.

Naqvi, B., Mirza, N. & Rizvi, S. (2015). Fatima Fertilizer: A potential security for Tundra Pakistanfond. 4th Asian Management Research and Case Conference (AMRC), Malaysia, January10-12, 2015, ., Malaysia.

Naqvi, B. & Rizvi, S. (2011). Policy Responses to Global Financial Crisis: Inflation Targeters and Non-Targeters of Asia. 51st Congrès de la Société Canadienne de Science Economique (SCSE),, Québec, Canada.

Naqvi, B. (2010). Inflation Targeting Framework: Is the story different for Asian Economies. 27th Symposium on Money, Banking and Finance, Bordeaux, France.

Naqvi, B. (2010). Inflation Targeting Framework: Is the story different for Asian Economies?. Society for the Study of Emerging Markets' EuroConference, Milas, Turkey.

Rizvi, S. & Naqvi, B. (2010). "Time Varying Equity Market Beta as an Index of Financial Openness.. 25th Meeting of the European Economic Association (EEA, Glascow, United Kingdom.

Rizvi, S. & Naqvi, B. (2010). "Inflation Volatility: An Asian Perspective".. 14th Conference Theories and Methods in Macroeconomics, Le mans, France.

Rizvi, S. & Naqvi, B. (2010). Inflation Volatility: An Asian Perspective. The Fourth International Malaysia-Thailand Conference on Southeast Asia Studies, Selangor, Malaysia.

Rizvi, S. & Naqvi, B. (2010). Inflation Volatility: An Asian Perspective. 3rd PhD Conference in Economics, Athens, Greece.

Naqvi, B. (2010). Inflation Volatility: An Asian Perspective.. 3rd Euro-African Conference in Finance and Economics, paris, France.

Rizvi, S. & Naqvi, B. (2009). "Asymmetric Behavior of Inflation Uncertainty and Friedman-Ball Hypothesis: Evidence from Pakistan. 26th International Symposium of Money Banking & Finance, Orleans, France.

Naqvi, B.

Naqvi, B.

Rizvi, S., Naqvi, B., Nawazish, N. & Reddy & Reddy, K. (2017). Corporate Bond Market and Impossible Trinity in Aisa.

Naqvi, B., Rizvi, S. & Ahmad, F. (2017). Multi Criteria of Portfolio Optimization using Fuzzy Choquet Integral.

Naqvi, B. & Rizvi, S. (2017). Nexus between Non-interest Income and Bank Risk with varying level of Asset Quality.

Naqvi, B. & Rizvi, S. (2017). What makes Micro-finance Institutions financially sustainable?.

Naqvi, B. (2014). Does Exchange Rate Pass-Through Even Exist in Asia or Inflation Targeting Framework is Irrelevant in its Determination?.

Rizvi, S. & Naqvi, B. (2014). Reassessment of Exchange Rate Flexibility and Fear of Floating in Asia: How Much Credible Are the Benchmark Floaters.