Achim Zeileis, Ajay Shah, and Ila Patnaik. Exchange rate regime analysis using structural change methods. Report 56, Department of Statistics and Mathematics, Wirtschaftsuniversität Wien, Research Report Series, August 2007
Ajay Shah, Achim Zeileis, and Ila Patnaik. What is the new Chinese currency regime? Technical report, Wirtschaftsuniversität Wien, November 2005 [pdf]
Ajay Shah and Ila Patnaik. India’s experience with capital flows: The elusive quest for a sustainable current account deficit. In Sebastian Edwards, editor, Capital controls and capital flows in emerging economies: Policies, practices and consequences, chapter 13, pages 609–643. The University of Chicago Press, 2007
Kirit S. Parikh and Ajay Shah. Second generation reforms. In Kirit S. Parikh, editor, India Development Report 1999-2000, chapter 2, pages 25–34. Oxford University Press, 1999 [pdf]
Ajay Shah and Susan Thomas. Strengthen institutions for domestic markets. In Perspectives on international financial liberalisation, Responses to discussion paper 12 “International financial liberalization: Implications for development” by John Eatwell. UNDP Office of Development Studies, April 1998
“Core Team of Consultants” for High powered expert committee on making Mumbai an international financial centre, chaired by Percy Mistry, Ministry of Finance, 2007.
Research project: Forecasting economic activity using financial sector variables, funded by Finance Ministry, GOI, with Susan Thomas, Gangadhar Darbha and Kirit Parikh, commenced June 2000.