Dr Danny McGowan

Dr Danny McGowan

The Department of Finance
Reader in Finance
Director of Postgraduate Research Programmes

Contact details

+44 (0)121 414 6530
+44 (0) 121 414 6678
Room 1137, University House
Department of Finance
University of Birmingham
B15 2TY

Danny McGowan is a Reader in Finance and the Director of Postgraduate Research Programmes at Birmingham Business School. He holds a PhD in Economics from the University of Nottingham. His research interest lie in applied microeconomics with a focus on banking and financial intermediation. His recent work studies connections between the law and and bank conduct. Dr McGowan's research has appeared in leading academic journals including the Review of Financial Studies, Journal of Financial and Quantitative Analysis, and Journal of Financial Intermediation. He has received research funding from the ESRC, British Academy, and the Leverhulme Trust.

Visit his personal website for further details.


  • PhD Economics, University of Nottingham, 2010
  • MSc Economics, University of Bristol, 2007
  • BSc Economics, University of Bristol, 2006


  • MSc Financial Modelling and Forecasting Techniques
  • MBA Finance for Managers

Postgraduate supervision

Danny welcomes PhD applications on topics related to banks and financial intermediaries.  In particular, studies of how regulatory and legal reforms affect lenders.

Current and former PhD students (job placement):

  1. Seyit Gokmen (expected completion 2022)
  2. Arisyi Raz (expected completion 2023)
  3. Huyen Nguyen (University of Bristol)
  4. Piotr Danisewicz (Lancaster University)


Research interests

Applied microeconomics (banking and financial intermediation)

Danny’s research interests lie in understanding the behaviour of banks and other financial intermediaries. His work often focuses on how legal reforms trigger changes in market discipline, bank conduct, and securitization activity. Recently, Danny has investigated how the rapidly growing Fintech sector affects the stability of the banking industry, and other outcomes such as entrepreneurship.   

Research Grants and Awards

2020: UKRI / ESRC Covid-19 Research Grant (£86,249), PI (with Christoph Gortz)

2018: Lloyds Centre for Responsible Business (£5,000), PI

2015: International Collaboration Fund (£15,000), CI (with Roberto Hernan Gonzalez)

2015: EARIE YEEA Award Winner (best paper prize)

2013: Leverhulme Research Project Grant (£31,000), PI

2012: British Academy Small Grant (£9,712), PI (with Klaus Schaeck)


1. Cumming, D., Farag, H., Johan, S. and McGowan, D. (2021) 'The Digital Credit Divide: Marketplace Lending and Entrepreneurship', Journal of Financial and Quantitative Analysis, forthcoming.

2. Danisewicz, P., McGowan, D., Onali, E. and Schaeck (2020) 'Debtholder Monitoring Incentives and Bank Earnings Opacity', Journal of Financial and Quantitative Analysis, forthcoming.

3. McGowan, D. and Vasilakis, C. (2019) 'Reap what you sow: Agricultural Technology, Urbanization, and Structural Change', Research Policy, 48(9), pp. 1-17.

4. Danisewicz, P., McGowan, D., Onali, E. and Schaeck, K. (2018) 'Debt Priority Structure, Market Discipline and Bank Conduct', Review of Financial Studies, 31(111), pp. 4493-4555.

5. Danisewicz, P., McGowan, D., Onali, E. and Schaeck, K. (2018) 'The Real Effects of Banking Supervision: Evidence from Enforcement Actions', Journal of Financial Intermediation, 35(A), pp.86-101.

6. Impullitti, G., Kneller, R. and McGowan (2018) 'Demand-driven Technical Change and Productivity Growth: Theory and Evidence from the US Energy Policy Act', Journal of Industrial Economics, forthcoming.

7. McGowan, D. (2017) 'Digging Deep to Compete: Vertical Integration, Product Market Competition and Prices', Journal of Industrial Economics, 65(4), pp. 683-718.

8. Gemmell, N., Kneller, R., McGowan, D. and Sanz, I. (2016) 'Corporate Taxation and Productivity Catch-Up: Evidence from European Firms', Scandinavian Journal of Economics, 120(2), pp. 372-399.

9. McGowan, D. (2014) 'Do Entry Barriers reduce Productivity? Evidence from a Natural Experiment', Economics Letters, 125(1), pp. 97-100.

10. Milner, C. and McGowan, D. (2013) 'Trade Costs and Trade Composition', Economic Inquiry, 51(3), pp. 1866-1902.