About the Project
We are seeking a candidate for this full-time 3-year PhD studentship within the Economics & Finance subject group at the Portsmouth Business School.
This research project has two aims. First, the studentship will study the impact of social norms and conventions in the largely unregulated global foreign exchange (FX) swap market. With a daily turnover of around $2 trillion, FX swaps play a very important ‘dual’ role in the financial markets, by being integrated into the FX market as well as the money market. Following a series of manipulation scandals, recent lawsuits and regulatory reform proposals have explicitly targeted anti-competitive behaviour in FX markets. However, reciprocality, trust and conventions are fundamental to, and logical in, money markets.
Second, the project aims to investigate the changing dynamics of the first stage of the Monetary Transmission Mechanism of independent central banks. Specific emphasis will be put on the decreasing role of uncollateralised interbank deposits and the simultaneous growing importance of the cross-currency basis swap (CRS) and FX swap markets. Hereby, it will examine the extent to which the markets of the latter have been influenced by market conventions, international bank expansion, regulatory changes as well as the quantitative easing programmes by a range of central banks the 2007-08 financial crisis. The project will also aim to quantify the spillover effects from the FX and CRS market on other financial market indicators and benchmarks domestically and internationally.
As a University of Portsmouth research student, you will join a growing and dynamic research community and have access to a skills development programme. The theoretical, empirical and analytical skills developed during this project will prepare the student well for a future career in academia or the financial sector.
Project Code
ACEF3470317
Funding Notes:
This full-time studentship is open to UK/ EU students only and is located in Portsmouth Business School, University of Portsmouth, Hampshire, UK.
Qualifications: Applicants will have a good first degree (minimum 2.1 or equivalent) and a Masters (or equivalent) in a relevant subject area (e.g. in Economics or Finance).
Potential applicants can find further information on PBS Research and Research Degrees at:
http://www.port.ac.uk/portsmouth-business-school/research/
http://www.port.ac.uk/portsmouth-business-school/research-degrees/
Applications should include:
[Please note to follow this guide to apply for this bursary award]
• a full CV including personal details, qualifications, educational history and, where applicable, any employment or other experience relevant to the application
• contact details for TWO referees able to comment on your academic performance
• a statement of 1,000 (words) outlining the main features of a research design you would propose to meet the stated objectives, identifying the challenges this project might present and discussing how the work will build on or challenge existing research in the above field.
Interviews: Interviews will be conducted on Tuesday 28 March/Wednesday 29 March 2017
Start date for the studentship: 1 October 2017
Applications should be sent to: Sue Edwards, Postgraduate Centre, University of Portsmouth, Richmond Building, Portland Street, Portsmouth, PO1 3DE (applications can be submitted electronically via: [Email Address Removed] and cc to [Email Address Removed])
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