Biography
Khafagy is a development economist interested in the political economy of finance, cooperative and public banking, industrial development, and agricultural economics. He joined London Metropolitan University in 2023 as a Lecturer in Finance. Previously, he worked at the Gloucestershire Business School, and the Countryside and Community Research Institute, at the University of Gloucestershire, and also worked in the banking and microfinance sectors in Egypt and India.
He holds a PhD in Development Economics from the Ruhr University Bochum, and published a monograph entitled 'The Economics of Financial Cooperatives' (Routledge, 2020). He also published peer-reviewed articles in leading development studies and economics journals, such as Food Policy, Journal of Institutional Economics, and Annals of Public and Cooperative Economics.
He is a Fellow of the UK Higher Education Academy (FHEA) and accredited researcher of the UK’s Office for National Statistics (ONS).
Publications
Authored books
Khafagy, A. (2020). The Economics of Financial Cooperatives: Income Distribution, Political Economy, and Regulation. London: Routledge.
Peer-reviewed journal articles
Khafagy, A. (2025). The Concrete Function of the Banking System: Samir Amin’s Monetary Theory of Financial Underdevelopment. Cambridge Journal of Economics, 49 (4), 625–653.
Khafagy, A., Nguyen, T., Gorton, M., & Phillipson, J. (2025). External finance and the growth of rural and urban SMEs in England. Journal of Small Business Management, 63(5), 2455-2483.
Vigani, M., Khafagy, A. and Berry, R. (2024). Public spending for agricultural risk management in the EU: land use, regional welfare, and intra-subsidy substitution. Food Policy, 123, 102603.
Khafagy, A. and Vigani, M. (2023). External finance and agricultural productivity growth. Agribusiness, 39 (2) 448-472.
Khafagy, A. and Vigani, M. (2022). Technical Change and the Common Agricultural Policy. Food Policy, 109, 102267.
Khafagy, A. (2019). Finance, distribution, and the economic objective of financial cooperative institutions. Annals of Public and Cooperative Economics, 90 (3), 487-511.
Khafagy, A. (2018). Regulation, supervision, and deposit insurance for financial cooperatives: an empirical investigation. Annals of Finance, 14 (2), 143–193.
Khafagy, A. (2017). Political institutions and financial cooperative development. Journal of Institutional Economics, 13 (2), 467-498.
Book Chapters
Vigani, M., & Khafagy, A. (2023). Food commodities and fine chemicals from microalgae: A close look at economics. In Handbook of Food and Feed from Microalgae: Production, Application, Regulation, and Sustainability. Elsevier.
https://www.sciencedirect.com/science/article/abs/pii/B9780323991964000188
Vigani, M., Urquhart, J., Maye, D., Nicholas-Davies, P., Black, J. E., Khafagy, A., & Berry, R. (2022). Managing Risks to Improve the Resilience of Arable Farming in the East of England. In Resilient and Sustainable Farming Systems in Europe: Exploring Diversity and Pathways (pp. 263-278). Cambridge University Press.
https://www.cambridge.org/core/books/resilient-and-sustainable-farming-systems-in-europe/60826241C028AB7BD351AF4A06BBC316
Accatino, F., Paas, W., Herrera, H., Pinsard, C., Severini, S., Appel, F., Khafagy, A. ... & Reidsma, P. (2022). Integrated Assessment of the Sustainability and Resilience of Farming Systems: Lessons from the Past and Ways Forward for the Future. In Resilient and Sustainable Farming Systems in Europe: Exploring Diversity and Pathways (pp. 279-301). Cambridge University Press.
https://www.cambridge.org/core/books/resilient-and-sustainable-farming-systems-in-europe/60826241C028AB7BD351AF4A06BBC316
