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  Competition and Financial Stability: A Comparative Study of the Banking Systems

   Faculty of Business and Law

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  Prof Shabbar Jaffry, Dr Alexis Stenfors, Dr Oleg Badunenko  Applications accepted all year round  Self-Funded PhD Students Only

About the Project

Applications are invited for a self-funded, 3 year full-time or 6 year part-time PhD project.

The PhD will be based in the Economics and Finance subject area and will be supervised by Professor Shabbar Jaffry, Dr Alexis Stenfors and Dr Oleg Badunenko (Brunel University).

The work on this project will:

  • Review the banking competition policies in the developed countries and emerging markets in the last two decades;
  • Review the stability of the financial systems in the mentioned countries;
  • Investigate the potential of the banking system to grow and consolidate;
  • Analyze the non-linear nature of the relationship between competition and financial stability.
  • Quantitative data analysis – econometric modelling 

Project description

In the light of the importance of the banking system in the modern economy, it is essential to analyse its composition and growth. Hence the competition authorities regulate how a banking system is developing. There are important factors to consider to ensure best practice, such as, the consolidation and expansion practices. In addition, the consumer well-being are closely monitored, and interventions are made to make sure that the disadvantages to all parties involved are minimized. This is especially important in the developed and emerging economies, where the banking systems are enormous, and where small regulations may have huge effects on banks and/or consumers and business.

Various measures of competition are proposed in the literature. The research will review their advantages and disadvantages and compare them using empirical analysis. Furthermore, the multivariate analysis of scale economies and market power will be performed to investigate the potential of the banking industry to consolidate or expand. However, if the data is available then other industries also be considered. Finally, different measures of financial stability of a banking system will be reviewed and empirically estimated.  In this part of the project it will be investigated if the nature between competition and financial stability is nonlinear.

General admissions criteria

You'll need a good first degree from an internationally recognised university (minimum upper second class or equivalent, depending on your chosen course) or a Master’s degree in Economics, Finance or a related area. In exceptional cases, we may consider equivalent professional experience and/or Qualifications. English language proficiency at a minimum of IELTS band 6.5 with no component score below 6.0.

How to Apply

We’d encourage you to contact Professor Shabbar Jaffry  ([Email Address Removed]) to discuss your interest before you apply, quoting the project code.

When you are ready to apply, please follow the 'Apply now' link on the Economics PhD subject area page and select the link for the relevant intake.  Make sure you submit a personal statement, proof of your degrees and grades, details of two referees, proof of your English language proficiency and an up-to-date CV.  Our ‘How to Apply’ page offers further guidance on the PhD application process. 

Please also include a research proposal of 1,000 words outlining the main features of your proposed research design – including how it meets the stated objectives, the challenges this project may present, and how the work will build on or challenge existing research in the above field.

When applying please quote project code: ECFN4771021

Business & Management (5) Economics (10)

Funding Notes

Self-funded PhD students only.
Please for tuition fee information and discounts.