Theme 2 : Financial Globalization

Responsible: Olena HAVRYLCHYK
Theme: Sustainable Globalization

This scientific program brings together researchers interested in the analysis of financial globalization in the digital age. Financial innovation is not only technological (e.g. crypto-actives, AI), but also societal (e.g. sustainable finance, corporate social responsibility). Only the combination of these two dimensions can ensure a sustainable financial system. Digitalisation accelerates financial globalisation and thus accentuates regulatory and tax competition, which requires European cooperation and an innovative approach to public policies (regulation, taxation, public investment, competition policy, innovation and competitiveness strategy, transparency).

The research in this scientific programme is conducted from a mainly economic angle but with an openness to interdisciplinarity (history, sociology, behavioural science, law and political science, philosophy, etc.). Empirical projects use market data (traditional and crypto), confidential data from
the Banque de France’s Open Data Room and massive data from social networks. The researchers are also involved in the construction of a new database on participatory loan financing in France.

The planned projects focus on a variety of issues :

Finance and technology

Technology and financial intermediation (participatory financing, neobanks, cryptoactives, blockchain, bank branch closures).
Social networks and financial markets (market sentiment, market manipulation, fake news).
Technology and barriers to entry

Finance and Public Policy

Bank regulation.
Regulation of fintech (participative financing, cryptoactives, insurtech).
Taxation of banks and financial markets (taxation of financial transactions, specific taxes on banking activity and tax havens).
Concentration of the banking market.
Political economy of European integration, public investment and public procurement.
Financial imbalances and reg.

Finance and society

Links between finance, economy and society (gender issues).
Sustainable finance and corporate social responsibility.
Green finance.
Economic sciences and social networks.
Fintech and financial and monetary inclusion, valuation of exotic assets (cultural goods, sports contracts).
Public debt in a historical perspective (royal finances in France).

The members of the scientific programme are very active in terms of public expertise and are regularly called upon for public hearings (National Assembly, Senate, European Parliament, etc.) or the drafting of reports (Conseil d’Analyse Economique, Conseil des Prélèvements Obligatoires,
Scientific Council of the AMF, Conseil National de l’Information Statistique, Organisation for Economic Cooperation and Development, etc.).

The scientific programme is the main research component of the Master’s Degree in Currency-BankFinance-Insurance for its five M2 courses :

Bank-Finance.
Banking Risk Control and Compliance.
Communication, Economic and Financial Information;
Finance Technology Data.
Financial Economics.
The vast majority of the members of the scientific program are qualified to direct research and supervise theses in the doctoral school.

An annual workshop and a research seminar (monthly) are organized jointly with ESCP, with the support of Labex Réfi.

Numerous workshops on Fintech-related issues are organised as part of research projects funded by the ANR (Technology and financial (dis)intermediation)) and Horizon 2020 (FINTECH).

Each researcher in the scientific programme also organises one event per year (seminar, miniworkshop, round table, continuing education), etc.

These seminars are supported by the University Paris 1 Panthéon-Sorbonne.