School of Business and Economics


Robert Akunga

Photo of  Robert Akunga

Doctoral Researcher in Economics

Prior to Robert commencing his PhD studies at Loughborough University in January 2017, he worked at the Central Bank of Kenya (CBK), Kenya’s banking regulator. Robert worked in the Research Department of CBK mainly on macro-prudential policy, financial stability assessments and macro-financial analysis.

In his role at the CBK, Robert closely worked with the other financial market regulators in Kenya as well as the banking regulators in Uganda and Tanzania in assessing the stability of the entire financial system. As a member of the CBK research team, Robert assisted in project management of the nation-wide 2015 Financial Access Geospatial and the 2016 Financial Access Household Survey.


Robert holds a Bachelor of Science (Hons) in Actuarial Science and a Master of Science in Finance and Management from the University of Kent, UK and Cranfield University, UK, respectively. Robert’s Master of Science thesis was on “Dividend Pay-out in the African Banking Sector and Financial Risk”.

Research Interest:

Robert’s research interest is primarily on developing countries and includes macroeconomics of monetary unions; financial markets development and integration; applied econometrics; and financial repression and liberalisation.


Research Plan:

The study will investigate the dynamic (causality, long and short run and impulse response) relationship between the real, fiscal and external sectors and the financial markets in the East African Community (EAC). This study will also investigate the shock spill over effect via financial markets within the EAC region taking into account the on going EAC integration process.



  • Dr Ahmad Hassan Ahmad
  • Dr Simeon Coleman


Thesis Title/Topic:

'Macroeconomic Variables and Stock Market Integration: A Case Study of the East African Community'