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Professor Philip Davis

Professor Philip Davis

Marie Jahoda 240

Research area(s)

  • Financial stability, banking and macroprudential policy
  • Pension funds/economic impact of population ageing
  • Policy related applied macroeconomic research and analysis

Research Interests

Financial instability (see “Debt, financial fragility and systemic risk”, OUP, 1992/5); Pension funds/retirement income provision (see “Pension Funds, Retirement Income Security and Capital Markets”, OUP, 1995); Economics of financial institutions (particularly banks and institutional investors) (see “Institutional Investors”, MIT Press and “Financial Structure”, CUP 2000); International Financial Markets; Financial regulation; Application of industrial economics to financial markets; Monetary aspects of securities markets and asset prices; Economics of financial centres; Portfolio modelling; Consumption; EMU, Sectoral Balance Sheets/Flow of Funds; theology and economics.

Research supervision

Supervision: Current PhD students are

  • Christine Li: Project title “Global demographic trends and its impact on financial structure, asset prices, mutual funds and capital inflows” Began 2015
  •  Dennison Noel: Project title “Macro prudential regulation and its interaction with monetary policy specifically focusing on the differences between developed and developing countries.” Began 2016

Research project(s) and grant(s)

Recently completed research projects:

Armstrong A and Davis E P (2016), “Financial regulation, are we reaching an efficient outcome?” National Institute Economic Review, February 2016; vol. 235. pp- R1-R3

Armstrong A, Davis E P and Ebell M (2015), “An economic analysis of the existing taxation of pensions (EET) versus an alternative regime (TEE)“ Association of British Insurers

Davis E P and Sanchez-Martinez M (2015), “A survey of the economic theories of poverty”, Joseph Rowntree Trust

Davis E P (2014), “The Future of Housing Finance”, National Institute Economic Review, November 2014; vol. 230, 1: pp. R1-R2.

Davis E P (2014),“Evolving Roles for Pension Regulations: Toward Better Risk Control”, in “Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk”, Eds Raimond Maurer, Olivia S. Mitchell, and P. Brett Hammond, OUP

Armstrong A and Davis E P (2014), “Comparing housing booms and mortgage supply in the major OECD countries” National Institute Economic Review, November, R3-R15

Davis E P and Karim D (2014), “Competitive disadvantage”, The Treasurer, March, 54-55

Barrell, R., Davis, P., Karim, D., Liadze, I., (2013), “Off-balance sheet exposures and banking crises in OECD countries” Journal of Financial Stability, 9, 673-681

Armstrong A, Davis E P, Liadze I and Rienzo, C (2013) "An Assessment of Bank Lending to UK SMEs in the wake of the crisis," National Institute Economic Review, 225(1), R39-R51, August.

Davis E P, De Haan L (2012), "Pension fund finance and sponsoring companies” Journal of Pension Economics and Finance, 11, 439-463

Davis E P, Karim D and Liadze I (2011), "Should multivariate early warning systems for banking crises pool across countries?” Review of World Economics, 147, 693-716

Davis E P (2011), “New International Evidence on Asset-Price Effects on Investment, and a Survey for Consumption”, OECD Economic Studies, 8, 1-50

Davis E P and Zhu H (2011), “Bank lending and commercial property cycles: Some cross-country evidence”, Journal of International Money and Finance, 30, 1-21

Barrell, R., Davis, P., Karim, D., Liadze, I., (2010). “Bank regulation, property prices and early warning systems for banking crises in OECD countries”. Journal of Banking and Finance, 34, 2255-2264

Al-Eyd A, Barrell R and Davis E P, (2009) "Consumer Confidence Indices And Short-Term Forecasting Of Consumption," Manchester School, 77, 96-111

Davis, E. P and Hu, Y, (2009) “Should Pension Investing be Regulated?”, Rotman International Journal of Pension Management, Vol. 2, No. 1

Davis E P and Zhu H (2009), “Commercial property prices and bank performance”, Quarterly Review of Economics and Finance 49, 1341–1359

Davis E P and Karim D (2008), “Comparing early warning systems for banking crises”, Journal of Financial Stability, 4, 89-120