Conference resume (pensions/institutional investors)



E. Philip Davis is Professor of Economics and Finance at Brunel University, West London and a Visiting Fellow at the National Institute for Economic and Social Research. Davis is also an associate member of the Financial Markets Group at the London School of Economics, an Associate Fellow of the Royal Institute for International Affairs and a Research Fellow of the Pensions Institute at Birkbeck College, London. Davis left Oxford University in 1980, and was employed by the Bank of England up till 2000 except for two spells on secondment, to the Bank for International Settlements in 1985-7, and in 1993-97 to the European Monetary Institute and its successor, the European Central Bank.

Davis has published widely in the fields of pensions, institutional investment, euromarkets, banking, corporate finance, financial regulation and financial stability. . Inter alia, he has prepared and published work on pension funds for the World Bank, Asian Development Bank, Financial Services Authority, European Investment Bank, European Monetary Institute, OECD, Bank of England, EBRD, ILO, Bank for International Settlements, Deutsche Bundesbank, Austrian National Bank, Pension Research Council (USA), Commissariat General du Plan (France) and the Centre for European Policy Studies (Belgium). He won an Amex Essay Prize in 1993 for a paper on "The Development of Pension Funds; An Approaching Financial Revolution for Continental Europe", and wrote a contribution on pension funds for the New Palgrave Dictionary of Money and Finance.

Recent research linked to pension issues includes estimation of the impact of demographic change on asset prices, assessment of the overall effect of ageing on financial stability, institutional investment’s impact on financial structure, and studies of the regulation of pension systems in general and annuity markets in particular.

Davis’s first book, "Debt, Financial Fragility and Systemic Risk" was published by Oxford University Press in 1992 and was issued in paperback in 1995. His second book, "Pension Funds, Retirement-Income Security and Capital Markets, an International Perspective" was also published by OUP, and emerged in 1995. His third book, edited jointly with Zvi Bodie of Boston University, is entitled "Foundations of Pension Finance" and is a set of key articles in pension economics. It emerged in July 2000, published by Edward Elgar. His fourth, written together with Benn Steil of the Council on Foreign Relations, is "Institutional Investors" and was published by MIT Press in early 2001. A forthcoming book with Joseph Byrne is entitled “Financial Structure – a study of sectoral balance sheets in the G-7” emerged from Cambridge University Press in August 2003.