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Economics

Economics research within the Economics and Strategy Group lies principally within the broad area of applied microeconomics. The majority of our research therefore adopts a micro-economic perspective using individual company or sectoral data. 

The broad areas of research interest are as follows:

  • The economics of innovation, concentrating on the processes which determine effective innovation and its links to firm performance and higher productivity growth. Current research topics include the organisation of innovation at the firm level, regional innovation systems, financial innovation, innovation and export performance, the role of intellectual property and foreign ownership and product innovation.

  • Productivity analysis.  There are a number of strands within this area, including the econometric determinants of productivity growth (both micro and macro); measurement of the sources of productivity growth in regulated industries;  the analysis of innovation and productivity spillovers from multinational enterprises to host economy firms; and the effects of trade and FDI on economic growth.

  • Regulation and competition. This area has obvious links with productivity analysis, especially as regards productivity measurement within regulated industries.  Other areas of interest include collusion and merger control, retail competition, and privatization in China.

  • The impact of economic reforms and ownership structures on the behaviour and performance of financial and non-financial sector firms in emerging markets

  • The application of the application of advanced multivariate techniques to a range of data types, particularly the econometric and time series analysis of financial and monetary economics data.

Like all research within ESG, our economic analysis is characterised by its statistical and inferential rigour and its relevance to current policy issues. This is evident in our success in raising external funding from both the research councils and other government departments and agencies.  For example, five ESRC/EPSRC awards have been obtained in recent years: two (ESRC) are related to knowledge sourcing and innovation at the firm level; one (ESRC first grant) is on privatization and firm performance in China; and  two (EPSRC) awards on the uses of game theory and adaptive networks for smart evacuations and the allocation of economic resources in the fight against crime.  Two recent projects on innovation have been funded by NESTA, one examining the nature of knowledge sourcing by firms and their links to innovation, and the other exploring developments towards an index of relative innovation performance in UK industrial sectors. Other policy-relevant work has been funded by UKTI/BIS  (evaluating the impact of UKTI’s R&D programme) and the Manchester Independent Economic Review (on the links between domestic and inward investment within Manchester city region).

Examples of recent papers:

  • Binner JM, Bissoondeeal RK, Elger CT, Jones BE and Mullineux AW (2009) ‘ Admissable monetary aggregates for the Euro area’. Journal of International Money and Finance, 28, 99-114.

  • Bhaumik, S and Gregoriou, A (forthcoming) '”Family” Ownership, Tunnelling and Earnings Management: A Review of the Literature’,  Journal of Economic Surveys.

  • Bhaumik S and Piesse J (2008) ‘Does Lending Behaviour of Banks in Emerging Economies Vary by Ownership? Evidence from the Indian Banking Sector’, Economic Systems, 32(2): 177-196.

  • Driffield N and Pal S (forthcoming) ‘Evolution of capital structure in east Asia—corporate inertia or endeavours?’,  Journal of the Royal Statistical Society (A)

  • Du J and Girma S (2009) ‘The effects of foreign acquisition on domestic and export markets dynamics in China’, The World Economy, 32, 164-177.

  • Greenhalgh, C. and M. Rogers (2006). ‘The Value of Innovation: The Interaction of Competition, R&D and IP’. Research Policy 35(4): 562-580

  • Izushi H (2008) ‘What does endogenous growth theory tell about regional economies? Empirics of R&D worker-based productivity growth’  Regional Studies 42(7): 947–960.

  • Love J H, Roper S and Du J (2009) ‘Innovation, ownership and profitability’, International Journal of Industrial Organization, 27, 424-434.

  • Olczak M (2008) ‘Tacit versus overt collusion. Firm asymmetries and numbers: what’s the evidence?’ (with S.Davies), Competition Policy International, 4(2), Autumn, 175-200.

  • Roper S, Du J and Love JH (2008) ‘Modelling the innovation value chain’, Research Policy,
    37, 961-977.

  • Sena V ‘The impact of finance constraints on firms' technical efficiency’, European Journal of Operational Research

  • Wlazlowski S, Binner JM, Giulietti M, and Milas C. (2009) ‘Price dynamics in the European petroleum market’, Energy Economics, 31, 99 – 108.

 

 

 

 

 

 

Employable Graduates; Exploitable Research