School of Economics

Image of Spiros Bougheas

Spiros Bougheas

Professor of Economics, Faculty of Social Sciences



Spiros has been a member of staff at the University of Nottingham since 1999. He is a Professor in Economics. His research interests include systemic risk in financial markets, financial contracting and international financial architecture. His publications include papers in Journal of International Economics, European Economic Review, Journal of Economic Behavior and Organization and International Journal of Industrial Organization.

Member, Steering Committee and Management Committee - GECOMPLEXITY - COST (European Cooperation in Science and Technology) Action IS1104: The EU in the New Complex Geography of Economic Systems: Models, Tools and Policy, 2012-

CV available here in pdf format. Spiros' Facewall page.

Recent Publications

  • BOUGHEAS, S., COMMENDATORE, P., GARDINI, L. and KUBIN, I., 2023. Dynamic Investigations of an Endogenous Business Cycle Model with Heterogeneous Agents Computational Economics: Special Issue - Nonlinear Dynamics and Complex Systems. (In Press.)
  • BOUGHEAS, S, 2022. Contagion in Networks: Stability and Efficiency Mathematical Social Sciences. 115, 64-77
  • AMISSAH, E, BOUGHEAS, S, DEFEVER, F and FALVEY, R, 2021. Financial System Architecture and the Patterns of International Trade European Economic Review. 136, 103751
  • BOUGHEAS, S and WANG, T, 2021. A Theory of Outside Equity: Financing Multiple Projects Journal of Corporate Finance. 69, 102025
  1. NGOs and donors' funding: Evidence from Uganda (with A. Isopi and T. Owens). CREDIT WP 22/04, University of Nottingham.; CESifo WP no. 10055.
  2. Fire Sales and Ex Ante Valuation of Systemic Risk: A Financial Equilibrium Networks Approach (with A. Spencer), CFCM Working Paper 22/04, University of Nottingham.; NIESR Discussion Paper No. 544;CESifo WP no. 10111.

  3. Financial Development, Cycles and Income Inequality in a Model with Good and Bad Projects (with P. Commendatore, L. Gardini and I. Kubin), CFCM Working Paper 22/05, University of Nottingham.; CESifo WP no. 10135.

  4. Dynamic Investigations of an Endogenous Business Cycle Model with Heterogeneous Agents (with P. Commendatore, L. Gardini and I. Kubin).CFCM Working Paper 23/02, University of Nottingham.

Other Writings

  1. The Economy on Ice: Preventing Economic Contagion. NIESR Blog, April 4 2020:
  2. Unfair Policies, Costly Consequences. NIESR Blog, June 8 2020:
  3. What is systemic risk and how does it lead to a banking crisis? The Conversation. March 22 2023: banking-crisis-202174

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