The world economy suffered a severe shock in 2008 from which it has not as yet recovered. This shock was largely unanticipated. The complexity of relationships between financial institutions had obscured the consequence of failure of one component upon the others. This was not properly understood either by the institutions themselves or by the regulating authorities. Moreover a widespread belief in the efficiency of financial markets had led policy-makers to downplay the risks inherent in rapidly rising private sector debt.
The Financial Market Policies Foundation's mission was to advance public learning and knowledge about relationships between policy-makers (governments, treasuries, regulators and central banks) and financial markets and other financial entities.
Through grants it supported study and research - by specific university fellows and graduates - to further the understanding of such relationships.
Our aim was to provide tools for a better understanding of these relationships, with the intent that practitioners, governments and regulators might be appraised of the research findings and their implications; and that such knowledge is widely disseminated so that public support for rational policies may be more likely to be forthcoming.
The Foundation expected public benefit to arise:
- through advancing learning and education within this field of study;
- through holding lectures, seminars and workshops at a leading university and at other educational establishments, inviting students, especially postgraduates, for their further education;
- by providing the opportunity to study the subject through scholarships, bursaries and grants as enumerated in the Foundation's objects.
- by identifying issues of contemporary interest and importance and making the work of researchers and scholars more accessible to practitioners.