Prof Kevin Davis (ACFS), in collaboration with Dr Maurice Peat (University of Sydney) and Prof Stephen Taylor (University of Technology, Sydney), provided feedback on the Exposure Draft of the 2011 Strategic Roadmap for Australian Research Infrastructure.
The 2011 Strategic Roadmap for Australian Research Infrastructure will be developed to inform future decisions on where Australia should make strategic infrastructure investments to further develop its research capacity and improve innovation outcomes over the next five to ten years.
The 2011 Roadmap aims to consider new and emerging areas of research which may require different types of infrastructure in the future, and determine whether the current mix of Capability areas continues to meet researchers’ needs.
In their Response, Prof Kevin Davis and co-authors proposes a new capability area entry for the Roadmap –Mechanisms of Economic Activity, including the role of the financial sector, and tools require for the management of this activity. The Response emphasizes the importance of the proposed research area considered in its own right and not as a sub-branch of the culture and communities capability area.
“The Financial services industry is the largest sector in the economy in terms of contribution to GDP…… Innovation in the design and regulation of economic mechanisms (markets and financial institutions), supported and enhanced by eResearch infrastructure, has the potential to deliver substantial social and economic benefits.”
The Response also details the strategic impact, challenges, assumptions and key research infrastructure requirements of the proposed capability devoted to economic and financial research. Examples of government support into the mechanisms of economic activity capability area include, the recent substantial co-investment by the Federal and NSW governments to establish a national “Centre for International Finance and Regulation” (CIFR); and the Victorian government’s seed funding and continuous support for the Australian Centre for Financial Studies (ACFS).
Professor Kevin Davis
Research Director, Australian Centre for Financial Studies and
Professor of Finance, University of Melbourne
W: +61 3 9666 1050