Lori Leachman

Professor of the Practice of Economics

External Address: 
329F Social Sciences, Durham, NC 27708
Internal Office Address: 
Box 90097
(919) 660-6894

Professor Leachman is interested in studying the subjects of international trade, exchange rates, fiscal policy, and international macroeconomics. In conducting her research, she often incorporates intertemporal models, multicointegration and sustainability. Her current research project explores the political economy of intertemporal budgeting. She recently collaborated with G Rosas, A Bester, and P. Lange to complete a study on, “The Political Economy of Budget Deficits,” and worked with the same team on the project entitled, “Multicointegration and Sustainability of Fiscal Practices.” She has also teamed up with Bill Francis to publish the works, “Twin Deficits: Apparition or Reality?” and “Multicointegration Analysis and the Sustainability of Foreign Debt.” One of her earlier works, executed with Michael Thorpe, was a study on, “External Balance in the Small Open Economy of Australia.” She has also published on such subjects as capital market integration, optimum corporate capital structure, and Ricardian equivalence.


  • Ph.D., University of South Carolina at Columbia 1987
  • M.A., University of South Carolina at Columbia 1982
  • B.S., University of South Carolina at Columbia 1980

Leachman, L, Rosas, G, Bester, A, and Lange, P. "The Political Economy of Budget Deficits." Economics and Politics 19, no. 3 (2007): 369-421. (Academic Article)

Leachman, L, Bester, A, Rosas, G, and Lange, P. "Multicointegration and sustainability of fiscal practices." Economic Inquiry 43, no. 2 (2005): 454-466. Full Text Open Access Copy

Leachman, LL, and Francis, B. "Twin deficits: Apparition or reality?." Applied Economics 34, no. 9 (2002): 1121-1132. Full Text

Leachman, LL, and Francis, BB. "Multicointegration analysis of the sustainability of foreign debt." Journal of Macroeconomics 22, no. 2 (2000): 207-227.

Francis, BB, and Leachman, LL. "Superexogeneity and the dynamic linkages among international equity markets." Journal of International Money and Finance 17, no. 3 (1998): 475-492. Open Access Copy

Leachman, LL, and Thorpe, M. "Intertemporal solvency in the small open economy of Australia." Economic Record 74, no. 226 (1998): 231-242.

Leachman, LL. "New evidence on the Ricardian equivalence theorem: A multicointegration approach." Applied Economics 28, no. 6 (1996): 695-704.

Francis, BB, and Leachman, LL. "The volatility and transmission of equity returns among the G-7 countries: The post-Bretton Woods experience." International Review of Applied Economics 10, no. 2 (1996): 289-303.

Leachman, LL, and Francis, B. "Equity market return volatility: Dynamics and transmission among the G-7 countries." Global Finance Journal 7, no. 1 (1996): 27-52. Full Text

Leachman, LL, and Francis, B. "Long-run relations among the G-5 and G-7 equity markets: Evidence on the Plaza and Louvre Accords." Journal of Macroeconomics 17, no. 4 (1995): 551-577.