Professor E. Philip Davis

E. Philip Davis is a Professor in the Department of Economics and Finance at Brunel University and an Adviser at the International Monetary Fund (IMF).

Research Interests

As a policy and research economist, his main research areas are financial stability, banking and macro-prudential policy; pension funds/economic impact of population ageing; policy-related applied macroeconomic research and analysis; the application of biblical theology to economic issues. He has particular interests in finance and the interface between finance and macroeconomics.


MA (PPE) Oxon, MPhil (Econ) Oxon


Graduating from the University of Oxford, he spent 20 years at the Bank of England, with spells on secondment to the Bank for International Settlements (1985-7), and to the European Monetary Institute and its successor, the European Central Bank (1993-97).

Additional Information

Selected Publications

Davis E P and Demali S (2021), “Banking crises in OECD countries: investigating the role of nonperforming loans, the equity multiplier, banking concentration and stock market capitalisation”, Brunel Economics and Finance Working Paper No. 21-05

Davis, E. and Karim, D. (2021) ‘Looking Ahead: Early Warning Systems’, in D’Apice, V. and Ferri, G. (eds.) A Modern Guide to Financial Shocks. Edward Elgar.

Davis E P, Karim D and Noel D (2022), “Macroprudential policy and bank profitability”, International Review of Financial Analysis, 80

The Effects of Macroprudential Policy on banks’ Profitability –  E . Philip Davis, Dilruba Karim & Dennison Noel, 2022