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Fabian Pape

Fabian Pape

ESRC Doctoral Research Fellow

PhD Candidate


Advice and Feedback Hours by appointment only


I am a political economist trained in Politics and International Relations (Sussex), Development Studies (SOAS, University of London) and Social Science Research (Warwick). I started my PhD programme in October 2017 on a '1+3' ESRC Doctoral Training Partnership scholarship and a University of Warwick PAIS PhD studentship. My thesis is provisionally entitled, 'Liquidity and the State: Monetary Governance in the United States since the Global Financial Crisis'. My supervisors are Matthew Watson and Chris Clarke.

I am one of the organisers of the Warwick Critical Finance Group.

Research Interests

My doctoral research focuses on the institutional transformation of US money markets over recent decades, with particular focus on the interplay of central banking and macroprudential reforms in the aftermath of the global financial crisis. My research starts from the assumption that the monetary system is fundamentally a payments system that is structured around a web of interlocking balance sheets. Liquidity here emerges as a key governmental problem conditioned both by private sector balance sheet dynamics and their entanglements with public authorities.

Upcoming & Recent Presentations

(2019) “Securing a public good? Money market liquidity and the Federal Reserve”, Intersections of Finance and Society, December 12-13, City, University of London

(2019) “Balancing liquidity with stability? The Federal Reserve, money market changes and the politics of macro-finance”, September 9-10, Critical Macro-Finance Workshop, Goldsmiths, University of London

(2019) “The anguish of central banking: concept ambiguity, policy innovation and the monetary-fiscal divide”, International Studies Association's 60th Annual Convention, March 27-30, Toronto.

(2018) "Global liquidity as governmental problem: the institutional origins of the Federal Reserve’s liquidity swap lines", 10th Critical Finance Studies Conference, August 9-11, Gothenburg.

(2018) "Cross-border banking as driver of global liquidity: the case of European banks", European Union in International Affairs (EUIA) 2018, May 16-18, Brussels.

(2017) “Governing Global Liquidity: The Federal Reserve’s Liquidity Swap Lines in Historical Perspective”, Intersections of Finance and Society, November 2-3, City, University of London.

(2016) “Rethinking shadow banking through the lens of risk management”, Intersections of Finance and Society, November 3-4, City, University of London.