Crisis drives academics and banks to work together

By Carmen Paun. Academics attending an international conference on how their work can promote financial stability have stressed how universities can play an important role in helping the world recover from the recession.
Indeed Dr Jean-Pierre Zigrand, reader in finance at the London School of Economics (LSE), told University World News at the Brussels event that there was a new, unusual drive for academics to work together with economists and central banks in the aftermath of the global financial and economic crisis:
“That’s because they [central banks] don’t have the required tools and only universities have the 'manpower', the human skills and the capital to come up with [these models], Zigrand said.
He was speaking at an event organised by the Joint Research Centre (JRC) of the European Commission in Brussels this month to investigate the ways science can contribute to financial stability. It involved high-ranking financial experts, scientists, academics, heads of industry associations and policy-makers. More...