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Maximilian Hall BA Econ (Nottingham), PhD Econ (Nottingham)

Photo of  Maximilian Hall

Emeritus Professor of Banking and Financial Regulations

Professor Hall graduated with a first class honours degree in Economics from Nottingham University in 1975. He received a PhD. from the same university in 1978. He joined the staff of the Economics Department at Loughborough University in 1977 and is currently a Professor (of Banking and Financial Regulation) in that Department.

Professor Hall has published nine books (one co-authored) in the areas of money, banking and financial regulation, and acted as Managing Editor for a further two books including ‘The Regulation and Supervision of Banks’ (4 volumes) published by Edward Elgar in July 2001.

Apart from these publications, Professor Hall has also contributed over 100 articles to academic and business journals, including the Journal of Banking and Finance, Expert Systems With Applications, European Financial Management, the Journal of International Financial Markets, Institutions and Money, and the Review of Quantitative Finance and Accounting, and chapters to a further 13 books. In addition, he has three entries in the New Palgrave Dictionary of Money and Finance published by Macmillan in 1992.

His current research activities embrace the reform of UK banking regulation and supervision, the role of market discipline in regulatory policy design, central and commercial banking developments in the UK, USA Japan and the EU, financial reform in Japan, deposit insurance design and financial regulatory issues in general. He is also working on empirical studies of banking efficiency in Indonesia, Japan, Hong Kong and Korea.

Professor Hall has carried out a number of consultancy projects for public and private sector organisations (e.g. the World Bank, the Asian Development Bank, the Inter-American Development Bank, the Islamic Development Bank, Euro-Fiet, the British Council, IBM, AT Kearney) and has contributed on the Top Management Programme run by the Cabinet Office. He has also delivered over 160 papers at conferences around the world, including ones organised by the Federal Reserve Bank of Chicago, the Bank of England, the United Nations, the European Commission, the People’s Bank of China, Bank Indonesia and the Nagoya Stock Exchange. He is frequently invited to chair major international conferences and is an occasional contributor to radio and television programmes concerned with financial issues. He has also acted in an advisory capacity to the central banks of Barbados, Indonesia, Japan, Macau, Pakistan and the People’s Republic of China.

Apart from teaching at Loughborough University, Professor Hall has held visiting lectureships at Birmingham University, Leicester University, Nottingham University, Sheffield University (Management School), City University Business School, Malta University and the Hong Kong and Shanghai Banking Corporation (London office). He has also acted as an External Examiner at Derby University, Manchester University Business School, Sheffield University (City College, Thessaloniki) and the European Business School (London).

Over the years, Professor Hall has been awarded research grants by the Bank of England, the British Academy, the British Council, the Caisse des Depots et Consignations, the Daiwa Anglo-Japanese Foundation, the Japan Society for the Promotion of Science, the Nuffield Foundation and the Hong Kong Institute for Monetary Research.

Research Interests:
‘Did the Market Signal Impending Problems at Northern Rock?  An Analysis of Four Financial Instruments’ (with P. Hamaleinen, B. Howcroft and A. Pop), (2010), European Financial Management (forthcoming).

''Productivity Changes and Risk Management in Indonesian Banking: A Malmquist Analysis'' (with M. Hadad, K. Kenjegalieva, W. Santoso and R.Simper), (2011), Applied Financial Economics, iFirst, February.

‘Banking Efficiency and Stock Market Performance:  An Analysis of Listed Indonesian Banks’ (with M Hadad, K Kenjegalieva, W Santoso and R Simper), (2010), Review of Quantitative Finance and Accounting (forthcoming).DOI: 10.1007/s11156-010-0192-1.

''Expectations and the Inertia of Inflation: The Case of Indonesia'' (with R. Wimanda and P. Turner), (2011), Journal of Policy Modeling, In press. DOI: 10.1016/j.polmod.2010.08.009.

‘Using the Artificial Neural Network to Assess Bank Credit Risk: A Case Study of Indonesia’ (with L. Moorena, D. Muljawan and Suprayogi), (2010), Applied Financial Economics(forthcoming). DOI: 10.1080/09603100903018760.

‘Should A Mandatory Subordinated Debt Policy Be Introduced In The United Kingdom? Evidence from the Issuance Activity of Banks and Building Societies’ (with P. Hamaleinen and B. Howcroft), (2010), Contemporary Economic Policy, Vol.28, No.2, pp. 240-263, April. 

'Bank Modelling Methodologies: A Comparative Non-parametric Analysis of Efficiency in the Japanese Banking Sector’ (with L. Drake and R. Simper), (2009), Journal of International Financial Markets, Institutions and Money, Vol. 19, No.1, pp.1-15, February.

Consultancy experience

2000 Team leader for a project entitled ‘A Deposit Insurance Scheme for China’. The work was carried out for Maxwell Stamp Associates on behalf of the World Bank and the People’s Bank of China.

2002/03 Consultant to Bank Indonesia (the Central Bank of Indonesia) on the issues surrounding the separation of monetary policy from banking supervision and on the design of deposit protection schemes.

2004 Consultant to Bank Indonesia on the design of a supervisory ratings system for Islamic banks

2005 Consultant to Bank Indonesia on the ‘Future Indonesian financial System Architecture’

2012 Consultant to the Islamic Development Bank on the development of financial Sector Assessment Programmes (FSAPs) for Islamic financial institutions