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Professor Richard Werner

Job: Professor of Banking and Finance

Faculty: Business and Law

School/department: Leicester Castle Business School

Address: De Montfort University, The Gateway, Leicester, LE1 9BH

T: N/A

E: richard.werner@dmu.ac.uk

 

Personal profile

Professor Richard A. Werner, D.Phil. (Oxon), is an LSE- and Oxford-educated economist, professor banking and finance at De Montfort University and known as bestseller author ('Princes of the Yen' beat Harry Potter for 6 weeks in Japan as number one selling book), banking and central banking expert, and adviser to investors and governments. In 1995 his proposal of how to end banking crises, which he called 'Quantitative Easing', was published in the Nikkei, Japan's leading financial newspaper, and has since become a household name. His Quantity Theory of Credit, also known as the 'General Quantity Theory', has been utilised by some major central banks (including the ECB).

Previously, Richard was professor of international banking at the University of Southampton, Professor of Economics at Goethe-University, Frankfurt, Assistant Professor of Economics at Tokyo's Sophia University, chief economist of Jardine Fleming Securities (Asia) Ltd. in Tokyo (now JP Morgan), for over a decade member of the ECB Shadow Council, Senior Managing Director and Senior Portfolio Manager at Bear Stearns Asset Management in London (now JP Morgan) and a member of the asset allocation committee of TelWel, a multi-billion dollar Japanese corporate pension fund. Earlier, he was a visiting researcher at the Bank of Japan, European Commission Doctoral Fellow at the University of Oxford, Visiting Scholar at the Ministry of Finance, Japan and the first Shimomura Fellow at the Development Bank of Japan.
In 1991, Richard warned of the coming banking crisis and economic depression in Japan. His 2005 book 'New Paradigm in Macroeconomics' warned of the recurring banking crises and set out how to deliver high, sustainable, stable and equitable economic growth without crises and without inflation. He is also an expert on East Asian High Growth Economics. His academic research is among the most downloaded scientific work in the world (see professorwerner.org). Richard's hobby is to establish new banks, including local community banks.

Research group affiliations

The Centre for Research in Accountability, Governance and Sustainability (CRAGS)

Key research outputs

[Add Key Research Ouputs information here]

Research interests/expertise

Banking, finance, monetary economics, development economics, macroeconomics, economic history, history of economic thought, methodology, East Asian High Growth Economics

Areas of teaching

Banking, development economics and finance

Qualifications

B.Sc. (LSE), D.Phil. (Oxon)

Courses taught

ACFI 5081 Credit and Lending; ACFI 5082 Sustainable Banking, Finance & Development

Membership of external committees

  • German Science Council (Wissenschaftsrat) Assessment Committee, 2018, to assess government grant funding applications from several of the largest economic research institutes
  • External Examiner/Assessor, Bournemouth University, 2015, MSc Accounting & Finance programme validation
  • External Examiner/Assessor, University of Exeter, 2013, PhD assessment committee
  • External Examiner/Assessor, University of London, SOAS, 2011, PhD assessment committee
  • External Examiner/Assessor, Durham Business School, 2010, Chair in Finance Appointment Committee
  • External Examiner/Assessor, University of London, Birkbeck College, 2006, PhD assessment committee
  • External Examiner/Assessor, University of South Australia, 2005, DBA assessment committee
  • External Examiner/Assessor, University of Wales, 2005-2006, MBA Programmes in Japan (3 programmes), 2005-2006

Professional licences and certificates

FCA Approved Person

Projects

Establishing community banks in the UK. In 2020 the Hampshire Community Bank completed the 'applicant journey' with the PRA/FCA and is about to apply for authorisation as a bank.

Key articles information

[Add key research outputs information here] 

e.g ‘Outputs, e.g. selected publications’ produced since January 2008

Consultancy work

Global Macro investment strategy. Establishing banks.

Current research students

  • Chihiro Udagawa, PhD research student, first supervisor
  • Borja Clavero, PhD research student, first supervisor

Case studies

  • REF 2014 Impact Case Study "Where does money come from?" assessed as "outstanding"
  • Past media citations in the following print-media: Financial Times, the Economist, the Asian Wall Street Journal, the Nikkei, the Nikkei Financial, the Japanese Economist, Toyo Keizai, Economics Seminar, Yomiuri Shinbun, Financial Times Deutschland, Handelsblatt, Börse Online, Börsenzeitung, Mainichi Shinbun, Daily Yomiuri, Japan Times, Frankfurter Allgemeine Zeitung, Naftemporiki, Joongang Ilbo, Capital, Volksblatt, Die Welt, Focus, The Guardian, Daily Telegraph, Süddeutsche Zeitung
  • Television appearances on the following channels: BBC, BBC South, BBC World, CNN, CNBC, TBS, RT, RT Deutschland, ITV
  • Documentary on YouTube: Princes of the Yen (2.3m views)
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