The JRC launches a Community of Practice in Financial Research (CoPFiR) today, bringing scientists and policymakers together to provide scientific input for policies linked to the European Commission's priorities, such as financial stability, Banking Union and capital markets.
With 19 European universities and associations enrolled in CoPFiR so far, the 25 October launch event brings together academic experts and European policy makers to discuss how research can be aligned with current policy priorities.
Vladimír Šucha, JRC Director-General said ahead of the launch, "The world of finance moves quickly and effective policymaking must be equally dynamic and responsive.
That can be achieved if policy makers work hand in hand with the top researchers in the field. The Community of Practice in Financial Research - underpinned by the JRC's knowledge management, partnership building expertise - seeks to match the latest research with the policy priorities of the EU".
The event is an opportunity to fine-tune CoPFiR's agenda for the coming years, with a focus on designing research to equip policymakers with the best tools to secure financial stability and improve the effectiveness of financial markets in serving the needs of European society. Discussion topics will include:
- Banking sector resilience
- Financial stability beyond banking including e.g. shadow banking
- Markets integration and risk sharing
- Access to capital markets and non-traditional financing instruments
Olivier Guersent, Director-General of DG FISMA, will present the Commission's current policy priorities – including the implementation and completion of the Banking Union and the creation of the Capital Markets Union.
Ahead of the event, he said, "Ensuring that financial policies are successful in stimulating investment and in combining stability with fairness and democratic accountability will require continuous research input.
We look forward to working with the Community of Practice in Financial Research as we design policies that work for European businesses and citizens".
Prof. E. Carletti from Bocconi University and the European University Institute will give the keynote lecture on the potential implications of banking regulation, focusing both on theoretical aspects and empirical evidence.
Representatives from European institutions will also highlight specific policy challenges that the research community could help to address. Dan Andrews from the Organisation for Economic Cooperation and Development (OECD) will discuss topics ranging from productivity to market distortions.
Angela Maddaloni from the European Central Bank (ECB)'s intervention will focus on the interaction between monetary policy and financial stability. Guido Bichisao from the European Investment Bank (EIB) will present its work to improve the quality and availability of data on long term investment.
Finally, Lucia Alessi the JRC will discuss how research can offer evidence on topical policy dossiers, such as the European Deposit Insurance Scheme.
The JRC's role
The JRC will lead CoPFiR, collaborating with partners on research activities and ensuring that research results reach relevant policymakers, for example by organising conferences, roundtables and technical workshops.
CoPFiR is designed to feed into the Commission’s work on financial markets, regulation of financial institutions, and systemic risk reduction. In 2018 CoPFiR will take stock of developments and discuss the way forward.
Details
- Publication date
- 25 October 2017