Funding renewal for long-standing partnership

11 October 2016

Julian Hodge atrium

The Hodge Foundation has confirmed that it will renew its support for Cardiff Business School’s Julian Hodge Institute of Applied Macroeconomics, pledging £100,000 to fund the work of the research institute for another year.

The Institute, which was established in 1999 at Cardiff University and is associated with the Business School’s Economics section, is led by the distinguished macroeconomist and former advisor to Margaret Thatcher, Professor Patrick Minford.

Professor Minford is also Economic Adviser to Hodge Bank and Hodge Lifetime, the main commercial interests of the Cardiff-based Hodge group.  The Hodge Foundation, a charity supporting the welfare, medical, academic and educational areas owns over 75% of these businesses.

When the Institute was established its main aim was to conduct research into the behaviour of the UK economy and to explicitly consider its relationship with the economies of Europe. The research has been particularly germane in recent years and has proved to be of significant social and political relevance as Europe has navigated the difficulties of the global financial crash, the Eurozone crisis and most recently the UK referendum on EU membership.

The Institute's research work extends across international trade, money and banking, international finance and econometrics. It is a collaborative and interdisciplinary effort encompassing around 20 academics, mostly in Cardiff, and almost 30 PhD students.

Professor Martin Kitchener, Dean of Cardiff Business School, Cardiff University, said: “We welcome the renewal of funding from the Hodge Foundation for the Julian Hodge Institute of Applied Macroeconomics. The work of the Institute, under the direction of Professor Patrick Minford, has been exemplary."

"Given the result of the EU referendum vote in favour of Brexit, the work of the Institute on understanding the UK economy’s relationship with its European counterparts is more important than ever."

Professor Martin Kitchener, Dean of Cardiff Business School

“We look forward to continuing our close professional relationship with Hodge and thank them for their continued support and trust.”

In addition to the £100,000 funding for the Institute, Hodge has confirmed it will maintain support of the PhD programme for two years at £40,000.

Cardiff Business School and Hodge have enjoyed a long and successful working relationship which has involved research as well as support for student awards and placements. The School also boasts the Sir Julian Hodge building and hosts two Professorships named after Hodge’s founder - the Sir Julian Hodge Professor of Banking and Finance and the Sir Julian Hodge Professor in Marketing and Strategy.

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