Banks, Education and Science, EU – Baltic States, Financial Services, Lithuania

The Research Centre has set ambitious goals to carry out internationally-recognised scientific research, addressing relevant banking and financial issues. Through its involvement in both education and research, the Centre will encourage the use of good practices of globally-acknowledged universities raising so the quality of economic and financial research in Lithuania.

"The Research Centre has received particularly great attention – nearly 150 scientists from globally acknowledged universities and research centres applied to it. Three promising scientists, who joined the Research Centre in September, have already undertaken specific work related to risk management, analysis of new financial products, shadow economy, fiscal policy," says Marius Jurgilas, member of the Board of the Bank of Lithuania.

Patrick Gruning has arrived in Vilnius from the Goethe University's SAFE (Sustainable Architecture of Finance in Europe) research centre in Frankfurt. Gruning holds the Doctor of Science degree in finance specializing in risk management, DSGE (Dynamic Stochastic General Equilibrium) models and asset pricing.

Matthias Weber had until now worked at the Centre for Research in Experimental Economics and Political Decision-Making at the University of Amsterdam. He focuses on public economics, macroeconomics, behavioural and experimental economics.

Zsuzsa Munkacsi has received a Master's degree at Cambridge University and will soon defend a Doctor of Science degree in economics at the European University Institute in Florence. Her main interests include public economics, labour markets demographic economics as well as the shadow economy. She has carried out her research at the International Monetary Fund and Germany's Bundesbank.

Vice Rector of Vilnius University, prof Rimantas Jankauskas, has noted that theoretical knowledge and the practical experience accumulated by the Bank of Lithuania is a good combination for both scientific research and studies.

"This will benefit all of us – both scientists and students. It is very important that live communication and the relations between science and practice refresh economic thinking, contribute to economic awareness in the broad sense," says Jankauskas.

The Bank of Lithuania and Vilnius University, who have founded this common research centre, have agreed to work together in carrying out joint research projects, prepare joint seminars, conferences, scientific publications, and exchange good experiences in training, practical and research activities in the fields of banking and finance. In pursuit of these goals, the institutions plan to consult each other, provide methodical and practical assistance, and encourage exchange of specialists and participation of representatives at scientific conferences, seminars and other events where issues in the fields of the domestic economy and finance, relevant to both parties, are discussed.