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Professor Tapas Mishra PhD (Economics), MSc (Quantitative Economics), MPhil (Economics), FHEA

Head of Department Banking and Finance, Professor of Banking and Finance, Director of the Centre for Empirical Research in Finance and Banking

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Banking and Finance

Tapas Mishra is currently a Professor and Head of Banking and Finance at the Southampton Business School, where he lectures in the subject areas of Quantitative Finance and Advanced Time Series Modelling. He is a Fellow of the Higher Education Academy (HEA). Previously he held academic position (as Associate Professor of Economics and Time Series Econometrics) at the Economics Department in Swansea University where he taught a range of subjects, which include Advanced Macroeconomic Analysis, Econometric Theory, Mathematical Economics and Applied Economics. Prior to joining academia, he served as a scientist within the World Population Program at the International Institute for Applied Systems Analysis (IIASA) in Laxenburg, Austria, as a senior researcher at the Institute for Future Studies, Stockholm, Sweden, and as a senior research officer at the Institute of Economic Growth, New Delhi, India.

He has lead several research projects awarded by both national and international funding bodies, such as the Leverhulme Trust, the Ford Foundation and Winrock International, the Swedish Research Council, and the European Commission’s FP6 Framework. His papers have been published in leading scientific journals, such as Nature, World Development, Social Indicators Research, Journal of Forecasting, Journal of Macroeconomics, European Journal of Finance, Manchester School, and Economics Letters, among others. His recently published book on Dynamics of Distribution and Diffusion of New Technologies (published by the Springer) has been downloaded over 2800 times. His research has been presented at refereed national and international conferences, such as the Royal Economic Society, the American Economic Association, Economic History Association, EURAM, Econometric Society, and Science and Public Policy Conference at the Kennedy School of Government, Harvard University. Over the past years, he has organized and chaired conferences/workshop.  

Tapas joined an integrated MSc and PhD program under the European Doctoral Program at the Centre for Operations Research and Econometrics, Catholic University of Louvain, Belgium and completed an MSc in Quantitative Economics with distinction. He completed PhD under Professor David de la Croix. Tapas also completed an MPhil degree in economics from the Delhi School of Economics under the supervision of Prof Pami Dua and a post-doc in economic theory and cliometrics under Prof Claude Diebolt at BETA, University of Strasbourg, France. He has been awarded a number of prestigious scholarships, such as Ford Foundation-Winrock International Fellowship, CORE Fellowship, IIASA post-doc fellowship, National Scholarship and Junior Research Fellowship (from the Government of India). He was a Marie-Curie post-doctoral researcher at the Vienna University of Technology and worked under Prof Alexia Prskawtez.

Tapas is an accomplished educator who not only achieves excellence in teaching but also contributes actively towards making education process effective, by serving for instance, as a panel member of Cambridge Access Validating Agency (to evaluate proposal for HE (Business) Validation), and as an external expert of the European Doctoral Program, among others. He has received several teaching awards (which includes the student nominated Excellence in Teaching and Learning/Distinguished Teaching Award from Swansea University in 2013).

A detailed list of his publications can be found at the Google Scholar

2018, August - : Professor of Banking and Finance, Southampton Business School, University of Southampton, UK.

2014, September – July 2018: Associate Professor, Department of Banking and Finance Southampton Business School, University of Southampton, UK. 

2012, May - August 2014: Associate Professor, Department of Accounting, Finance and Economics, School of Management, Swansea University, UK.

2008 October – May 2012: Lecturer in Economics, Department of Economics, College of Business and Economics, Swansea University, UK. 

2007 January - August 2008: Scientist, World Population Program, International Institute for Applied Systems Analysis (IIASA), Austria.



Centre for Inclusive and Sustainable Entrepreneurship and Innovation (CISEI)  


Centre for Digital Finance (CDF)

Research interests

Professor Mishra’s research focuses on modelling the complex interaction of agents and predicting their behaviour in an environment of embedded uncertainty, be it the context of macroeconomics, financial economics, strategy and entrepreneurship, or within the ambit of social, medical and psychological settings. He strongly believes in the integration and holistic nature of research philosophy across disciplines: a deeper insight in any discipline – whether organic or inorganic – can reveal that the boundary lines of strict disciplinary habits disappearing and points of contact emerging. 

He is willing to supervise PhD theses in the subject areas, which include among others, bubbles and rational expectations (applications to real estate market and cryptocurrency), models of dynamic interdependence among agents under incomplete information and uncertainty, economics of innovation, monetary policy and finance applications, environment and development, microfinance and socio-economic evaluation, (non-stationary and full-distributional) time series and panel data econometrics, and policy evaluations of health interventions.

Member of the following academic societies:

  • Econometric Society
  • American Economic Association
  • British Accounting and Finance Association
  • European Academy of Management
  • Royal Economic Society
  • Canadian Economic Association
  • European Economic Association

PhD Supervision

PhD project title: “Essays on Macroeconomy-Housing Market Interactions”

PhD project title: “Essays on Uncertainty and Financial Market Performance”

PhD project title: “Essays on Long-memory-Regime Switch in Cryptomarket”

PhD Project title: “Strategy and Innovation: Experimental Evidence”

PhD Project title: “Social Entrepreneurship and Network”

DBA Project title: “Risk and Opportunity Management in Crossrail”

PhD Project title: “Essays on Internationalisation and Firm Performance”

MPhil/PhD Research

Post-doctoral supervision:

(i) Dr. Miao Wang on ’Stochastic Economic Growth with Delay Differential Equation’ (currently employed by Santander Bank)

(ii) Dr. Prashant Gupta on ’Social Cohesion and Uncertain Economic Growth’ (Currently employed by WISERD, Swansea University).

Ph.D supervision:

(i) Ayman Faisal Alafi (2008-2012) ’Essays in Risk Aversion and Financial Market Volatility under Market Imperfection’ (Currently at the International Monetary Fund)

(ii) Prashant Gupta (2009-2013): ’Poverty, Severity and Economic Cost of Social Alienation: The Case of India’ (Currently at Swansea University)

(iii) B. Venjuande (2009-2013): FDI and Growth under endogenous framework:The case of Namibia’. Rajeh Bandar Alragas (2009-2014): ‘FDI and Stochastic Growth’ (Currently at the World Trade Organization).

(iv) Shane McMeechan (with ESRC Doctoral Scholarship)  (2012-2015): “Monetary Policy and Housing: Transmission Effects and Policy Implications”.

(v) Marc Gillaizeau (with ESRC Doctoral Scholarship) (2013-2017): ‘Essays on Neighbourhood Effects in Micro-finance’ (currently employed by C4ED, Germany)

(vi) Q. Sang (2014-2018): ‘Essays on Financial Flexibility and Distress Risk’ (currently at the Leeds Business School).

Research Projects

British Council Project on ‘Quality Assurance Process for Higher Education in Undergraduate Business/Management Education: A Comparative Study between UK and Vietnam’ (with Prof. Martin Broad and Vietnamese partners). Awarded in 2016. The project runs between Jan. 2017 – July 2017. Grant amount: 30,000 GBP.

CNRS Research Council, France project on ‘Industrialisation and Human Capital in the Long-run’ (with F. Perrin and C. Diebolt). Project awarded in Dec., 2016. The project runs between Jan. 2017 - Dec 2017. Grant amount: 10,000 Euros.

The Leverhulme Trust project on ‘Social Alienation and Uncertain Growth: How much does education difference matter?’ (with Prof. Sushanta Mallick, Queen Mary University of London). Jan. 2013 – Dec 2015. Grant amount: 78,738 GBP.

Swedish Research Council project on ’A Fractional Integration Test for Demography-based GDP Forecasting: A Case of Sweden’ (with Profs. Bo Malmberg and Thomas Lindh, Institute for Future Studies, Sweden). Grant amount: 25,000 US Dollars (net of taxes approx.): Dec. 2006 - May 2007.

‘Analysis of Shock Persistence in Space’ awarded by the Scientific Council, the University of Louis-Pateur, Strasbourg, France. Grant amount: 32,000 US dollars (net of taxes). Dec. 2005 - Nov. 2006.

Marie-Curie Young Research project award of the Research Training Framework (November 2005 - January 2006) of the European Commission. Employed at Department of Econometrics and Mathematical Systems (EOS), Vienna University of Technology, Vienna, Austria. Grant amount: 6000 US Dollars (approx. net of taxes).

Ford Foundation-Winrock International Research Grant on ‘Memory in Carbon Emissions and Implications for Development’ in 2000-2001 (5,000 US Dollars).




  • Head, Department of Banking and Finance
  • Associate Editor: European Journal of Finance
  • Associate Editor: Cliometrica
  • Associate Editor: Economies
  • Managing Editor: Indian Journal of Business and Economics; Journal of International Money, Banking and Finane.
  • Board of Trustees for French Cliometric Association (since 2013).
  • Associate Examiner, EMFSS International Program at the London School of Economics, University of London.
  • Associate Member of Fintech Chair: Universit ́e Paris Dauphine, Fintech and DigitalFinance Chair, Paris
  • Advising (ad-hoc reviewer) of Research Councils and Publication House:
  • The Leibniz Foundation, Germany; European Science Foundation; Economic and Social Research Council (ESRC); McGraw Hill Publication, Springer Verlag, and Cambridge University Press.

Served as a referee (more than once) in some of the leading journals: Nature; Science (Proceedings of National Academy of Sciences); European Journal of Operational Research; Journal of Economic Behaviour and Organization; Journal of Money, Credit and Banking; European Journal of Finance; International Journal of Forecasting; Structural Change and Economic Dynamics; Manchester School; Economic Modelling; Economics Letters; Journal of Macroeconomics; Social Science Review; Applied Economics; Empirical Economics.

Tapas co-organized/chaired:

  • The 8th World Congress of Cliometrics, held in Strasbourg, France, between July 4-8, 2017 (Co-organizer).
  • The Human Capital and Industrialisation workshop, Lyon, France, October 15-15, 2017 (Co-organizer).
  • Chaired: Royal Economic Society, Econometric Society conference.

Awards and Recognitions

  • UM Macao Distinguished Visiting Scholar under the UM Macao Talent Pro-gramme, Macau University, 2020.
  • Southampton University Student Union (SUSU) Most Engaging Lecturer Award, 2019 (Nominated)
  • Visiting Professor: Trinity College Dublin 2017-2019
  • Vice Chancellor Award for Distinguished Teaching (Student Nominated), Swansea University, 2013. See the media coverage.
  • Appointed as a lead examiner of the Habilitation committee at the University of Strasbourg, France, October, 2017
  • Best Research Paper Award(plus an award of 1000 US Dollar) at Economic Research Forum (ERF)conference in Tunisia, March, 2015.
  • Best Paper Awardat International Business and Finance Research Conference at Las Vegas,January, 2015.
  • IIASA Research Scholar Award in the World Population
  • CNRS-Louis-Pasteur University postdoctoral fellowship, University of Louis Pasteur,Strasbourg, Dec. 2005 - Nov. 2006.
  • ARC Fellowship, Ministry of Finance, Belgium, 2002-2005.
  • CORE Fellowship, Catholic University of Louvain (UCL), Belgium, 2000-2001.
  • Junior Research Fellowship, University Grants Commission, India, 1999.
  • National Scholarship for B.A. (Economics Honors), India, 1990-1993.

Media appearances and keynote

  • Media Appearance BBC Radio: 18th August, 2020. Recession in UK: What it means for people.
  • Keynote Speech and COVID related Webinar Expert Panel THE SCHOOL OFFINANCIAL STUDIES INTERNATIONAL e-CONFERENCE organised by Federal Polytechnic Oko, Anambra State, Nigeria on ’Alternative Business Models for Emerging Enterprises and Businesses in Post COVID-19 Era’; Special Guest - Keynote Speech, 28th September, 2020.
  • ’COVID-19 Fallout and the Challenges for Global Recovery Response’, Expert Panel for theWebinar hosted by Lincoln International Business School, University of Lincoln, 11th May, 2020
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Book Chapters


Programme Leader, MSc Finance

  • Leader of the MSc Module Quantitative Research in Finance
  • Leader of the MSc Module Advanced Time Series Modelling
  • Lecturer of the PG Research Methods (for PhD/DBA programmes)


Professor Tapas Mishra
Southampton Business School, University of Southampton, Highfield, Southampton SO17 1BJ, UK

Room Number : 2/6039

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