The HKIMR invites applications for the Institute’s Thematic Research Programme. Compared with the Regular Research Programme, applicants are invited to submit proposals of empirical and theoretical studies on the topics in the following thematic areas. Preferences are given to comparative studies which address critical policy issues and/or have significant global and regional implications:

Inflation dynamics: policy responses and implications for financial markets
1) Rising inflation: implications for exchange-rate dynamics, macroeconomic policies and financial stability 
2) US monetary and fiscal policies developments. Effects and implications for international markets
3) Monetary-fiscal policy interaction: implications for inflation risk and financial stability 

Emerging macroeconomic trends
1) The impact of industrial and trade policies on labour markets and the global supply chain
2) The implications of transition finance on the real economy
3) Long-term rise in economic inequality. Macroeconomic implications and policies
4) The rise of non-bank financial intermediation and its policy implications

Global capital flows and financial interdependencies 
1) Offshore RMB market development and onshore macro-financial stability
2) US dollar fluctuations, USD funding stress and macroeconomic dynamics
3) Capital flows and policy responses in international economies and implications for macroeconomic and financial stability

The Chinese economy: resilience and competitiveness
1) Credit risk and banking sector vulnerabilities in China
2) Credit dynamics, household debt and implications for the real economy in China
3) Export structure and competitiveness of China: macro-implications over the longer-term 

Financial and technological innovation
1) The impact of generative AI on financial markets and the macroeconomy 
2) Developments on Central Bank Digital Currencies (CBDCs), digital payment systems and asset tokenisation and their policy and macroeconomic implications 
3) Decentralised Finance (DeFi): Challenges and developments for financial markets and the macroeconomy

Applicants typically hold a PhD in economics or finance and an academic position, with specialization in the priority areas of interest and a track record of publications in top peer-reviewed academic journals. Good knowledge of the Asian region and experience in empirical and applied research are added advantages.

If you are interested and meet the specific requirements, please email a proposal prepared according to the submission guidelines to Hong Kong Institute for Monetary and Financial Research ([email protected]). The Council of Advisers for Monetary Research reviews the proposals on a quarterly basis and deliberates on the submissions. Since the Council frequently requests clarifications of the submitted proposals, applicants should apply well in advance of their desired dates of visit.

The length of the visit is up to one month, prior to mutual agreement. Successful applicants will receive an attractive remuneration package, including travel and accommodation allowances.

Please note that:

  1. Research projects that are completed or close to completion (e.g., projects for which a working paper has been already circulated and/or presented at conferences/seminars, etc.) will not be considered.
  2. Successful applicants will receive an honorarium, taking into account the seniority and the research qualification of the researcher, and reimbursement of travel and accommodation expenses in Hong Kong for a short visit to the Institute.
  3. The studies will have to be completed within 6 months from a mutually agreed commencement date.
  4. The completion of a research project requires (i) the submission of a paper for publication in the HKIMR working paper series (after an external and internal review) and (ii) the provision of a presentation on the proposed research through a seminar.
  5. The papers produced, partly or wholly under the visiting research programme, are required to acknowledge the financial support of the HKIMR if the papers are submitted to any journals.
  6. Note that submissions are not grant applications; therefore, requests for research support, data purchase and multi-year research work will not be entertained.

Submission Guidelines