Economics and Finance Research Group

The Economics and Finance Research Group is home to very diverse array of research from modelling returns on financial assets to studying migration and labour markets to considering the roles of institutions and entrepreneurship in our economy and wider society. 

Led by Professor Stephen Drinkwater, the group base themselves at Southlands College and enjoy good interdisciplinary links across the university and with other research groups around the world. 

In addition to writing books and presenting their research at international conferences, members of the group also regularly publish top journals such as Economics Letters, Entrepreneurship & Regional Development, European Journal of Finance, International Journal of Financial Analysis, International Small Business Journal and Small Business Economics.

The current research programme of the group includes:

  • Migration and Labour Markets; 
  • Modelling Returns on Financial Assets; 
  • International Finance; 
  • Fiscal and Monetary Policy
  • Entrepreneurship & family firms; 
  • Human Capital and Firm Performance; 
  • International Joint Ventures
  • Institutions and Economic Growth


Micro-economics of the Labour Market

Professor Stephen Drinkwater leads our research into the micro economics of the labour market. The research covers labour market discrimination, self-employment, industrial relations, international and interregional migration, the effect of language on economic activity and voting behaviour. For example, Professor Drinkwater, was part of a team that conducted research into the effect disability has on employment. The analysis indicates that the likelihood of being in work falls by 21% in the first two years following a work-limiting disability, with weekly hours of work falling by a total of 23%. The research was undertaken in collaboration with colleagues from Cardiff University and Wales Institute of Social and Economic Research, Data and Methods. 


This research explores the human side of entrepreneurship by looking at the processes through people come up new ideas for products and services. The research considers a wide range of different types of entrepreneurs, particularly those who are conventionally overlooked, such as those with disabilities or from marginalised communities. 

For example, a comparative study have been undertaken looking at the processes of managing creativity in indigenous bio-technology ventures formed in the European Union ("EU") and Mainland China. The project aims principally to build theory of organizational creativity based on processes of searching for and selecting product and service ideas in bio-pharmaceutical and bio-foods industries. A pilot study in Benelux, funded by a bio-technology risk capital firm, has now been completed.