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Applied Economics and Policy Analysis Research Group

  • Unit(s) of assessment: Business and Management Studies
  • School: Nottingham Business School


Applied Economics and Policy Analysis (AEPA) was created in late 2015 to reflect and accommodate the evolving body of researchers and their research interests. Its membership draws primarily on researchers in the Department of Economics, but also includes colleagues from other Departments whose research interests and methods used align with those utilised by the economists in the group. It is split into three subgroups: Micro; Macro, Money and Finance; and Energy and the Environment.

The primary interests of the Micro group are trade, FDI, and micro-level finance issues, including finance for firms in developing and emerging economies. The Macro, Money and Finance group brings together researchers with a range of interests and expertise, from the classical political economy of schools of economic thought, to DSGE modelling, via stock markets, portfolio management and betting markets. In addition, Professor Leighton Vaughan Williams is also Director of two Research Units – the Betting Research Unit and the Political Forecasting Unit.

Those working on energy and the environment bring a range of interests and methods, from theoretical and quantitative environmental economics, to qualitative policy analysis.

There is also a strong commitment to research informed teaching, with many members drawing directly on their research activities in the classroom. Professor Rob Ackrill, a National Teaching Fellow, is involved internally and externally, principally via the Higher Education Academy, with activities based around research informed teaching and research methods.

View the Economic's Department's discussion papers.


As our publications indicate, members of AEPA undertake collaborations with colleagues, both around the UK and globally. To give just some examples:

Rob Ackrill has a long and ongoing research collaboration with Professor Adrian Kay, of the Crawford School of Public Policy, Australian National University in Canberra. Together, they have published several journal articles in leading international journals. They have received funding for projects from the Leverhulme Trust and the ESRC. The latter project, a comparative analysis of EU, US and Brazilian biofuels policies, resulted in several journal articles and a research monograph, published by Palgrave in December 2014.

Emmanuel Amissah’s research involves a number of UK and international collaborations. He is researching trade patterns and the financial architecture of OECD countries, with Spiros Bougheas and Fabrice Defever (both at University of Nottingham) and Rod Falvey (Bond University, Australia). He is investigating the links between FDI and economic growth in Ghana, with Agyapomaa Gyeke-Dako and Festus Turskson (both at the University of Ghana, Ghana). He is also working with Agyapomaa Gyeke-Dako on a project looking at firm financing in Ghana, funded by the UK government (DFID) through the International Growth Centre at the LSE.


Full details of all AEPA members' publications can be found via the Institutional Repository of Nottingham Trent University.

A few examples of recent papers by AEPA members include:

Peer-Refereed Journal Articles

Abdo, H. (2014). Investigating the Effectiveness of Different Forms of Mineral Resources Governance in Meeting the Objectives of the UK Petroleum Fiscal Regime. Energy Policy Journal, 65, 48-56.

Abdo, H. (forthcoming). Accounting for Extractive Industries: has IFRS 6 harmonized accounting practices by extractive industries? Australian Accounting Review Journal.

Ackrill, R. and A. Kay (2012). Sweetness and Power – Public Policies and the ‘Biofuels Frenzy’. EuroChoices, 11(3), 23-28.

Ackrill, R., A. Kay and N. Zahariadis (2013). Ambiguity, Multiple Streams and EU Policy. Journal of European Public Policy, 20(6), 871-887.

Adetutu, M., A. Glass, K. Kenjegalieva and R. Sickles (2015). The Effects of Efficiency and TFP Growth on Pollution in Europe: A Multistage Spatial Analysis. Journal of Productivity Analysis, 43(3), 307-326.

Adetutu, M., A. Glass and T. Weyman-Jones (forthcoming). Economy-wide Estimates of Rebound Effects: Evidence from Panel Data. The Energy Journal.

Bakas, D. and E. Papapetrou (2013). The Greek Labour Market During the Current Crisis: Unemployment, Employment and Participation. Economic Bulletin, Bank of Greece, 38, 69-90.

Bakas, D. and E. Papapetrou (2014). Unemployment in Greece: Evidence from Greek Regions using Panel Unit Root Tests. The Quarterly Review of Economics and Finance, 54(4), 551-562.

Ferrero Ferrero, I. and R. Ackrill (forthcoming). Europeanization and the Soft Law Process of EU Corporate Governance: How has the 2003 Action Plan impacted on national corporate governance codes? Journal of Common Market Studies.

Harrison, B. and W. Moore (2012). Forecasting Stock Market Volatility in Central and Eastern European Countries. Journal of Forecasting, 31(6), 490-503.

Harrison, B. and W. Moore (2012). Stock Market Efficiency, Nonlinearity, Thin Trading and Asymmetric Information in MENA Stock Markets. Economic Issues, 18(1), 77-93.

Jackson, K. and W. Zang (2015). Evaluating methodological issues in the tourism literature: UK outgoing tourism and trade links. Economic Issues, 20, 1-41.

Khan, T.S., H. Abdo and A. Al-Ghabban (2015). Investigating Consumer Awareness of Energy Efficiency in Saudi Arabia. Energy Research Journal Online, 1-6.

McCann, M. and R. Ackrill (2015). Managerial and Disciplinary Responses to Abandoned Acquisitions in Bidding Firms: a new perspective. Corporate Governance: An International Review, 23(5), 402-416.

Makhlouf, Y., N.M. Kellard and D. Vinogradov (2015). Trade openness, export diversification, and political regimes.Economics Letters, 136, 25-27.

Mohamed, A.M.A., A. Alhabaibeh, H. Abdo and S. Elabar (2015). Towards Exporting Renewable Energy from MENA Region to Europe: An Investigation into Domestic Energy Use and Householders' Energy Behavior in Libya. Applied Energy Journal, 146, 247-262.

Nguyen, N.T. and C, Stewart (2013). Concentration and efficiency in the Vietnamese banking system between 1999 and 2009: a structural model approach. Journal of Financial Regulation and Compliance, 21(3), 269-283.

Ravishankar, G. and M.M. Stack (2014). The gravity model and trade efficiency: A stochastic frontier analysis of eastern European countries’ potential trade. The World Economy, 37(5), 690-704.

Stack, M.M., G. Ravishankar, and E.J. Pentecost (2015). FDI performance: A stochastic frontier analysis of location and variance determinants. Applied Economics, 47(30), 3229-3242.

Stewart, C., R. Matousek and T.N. Nguyen (2016). Efficiency in the Vietnamese banking system: A DEA double bootstrap approach. Research in International Business and Finance, 36, 96-111.

Thompson, P. and W. Zang (2015). Foreign Direct Investment and the SME Sector. International Journal of Entrepreneurial Behavior and Research, 21, 50-75.

Zang, W. and M. Baimbridge (2012). Exports, imports and economic growth in South Korea and Japan: a tale of two economies. Applied Economics, 44, 361-372.

Research Monographs

Ackrill, R. and A. Kay (2014). The Growth of Biofuels in the 21st Century: Policy Drivers and Market Challenges. London: Palgrave.

Vaughan Williams, L. and D. Siegel (2012). The Oxford Handbook of the Economics of Gambling. Oxford: Oxford University Press.

Vaughan Williams, L. (2012). The Economics of Gambling and National Lotteries. Cheltenham: Edward Elgar.

Related projects

Current Funding

  • Hafez Abdo (PI) and Rob Ackrill (CI): BA/Leverhulme Small Research Grant, 2014/15. Green energy, fiscal incentives and conflicting signals: analysing the challenges faced in promoting on-farm waste-to-energy projects. £6,362.
  • David Smith (NBS; PI), Rob Ackrill (CI), Richard Blundel (Open University; CI): ESRC Seminar Series, 2014. Green Innovation – Making it Work. £21,191.
  • Emmanuel Amissah (CI), Agyapomaa Gyeeke Dako (PI), Festus Turkson (CI). University of Ghana Business School. 2014. Foreign Direct Investment Spillovers and the Ghanaian Local Financial Environment. $5,000.
  • Emmanuel Amissah (PI), Agyapomaa Gyeeke Dako (CI). International Growth Centre, LSE-DFID. 2014. Formal and informal finance: Firm growth in Ghana. £8,000.
  • Emmanuel Amissah (PI), Marie Stack (CI). International Growth Centre, LSE-DFID. 2015. The presence of foreign firms in Ghana: The role of physical, financial and governance infrastructure. £10,000.

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