Finance professors at MIT Sloan are running high-level seminars in London and Shanghai to help raise funds for a centre in finance and policy at the school. MIT has already raised close to half the $10m needed for the centre.
The MIT Center for Finance and Policy will take a cross-disciplinary approach to addressing some of the government challenges in finance and banking today. The research will have implications for every household, says S P Kothari, deputy dean at the school, as it will focus on policy as well as the more traditional areas of risk and banking.
The centre is designed to bring together the top thinkers in industry and policy, says Prof Kothari. “Finance is one field where academia and business are very close.” The centre will also address the issues from a global perspective. “We want the centre to have a global outlook. We want participants to be global in terms of research and governance.”
Multi-disciplinary research centres in finance are rare - Princeton is one of the few universities to have an established centre. But since the 2008 financial crisis there has been a increased interest in their establishment. In March this year hedge fund Brevan Howard pledged £20.1m to Imperial College in London to set up a centre in financial economics there - Alan Howard, founder of the hedge fund, is an alumnus of Imperial College.