Frankfurt School of Finance & Management is setting up a new competence centre with a focus on government regulation, and associated macroeconomic costs and benefits. The Frankfurt Competence Center of German and Global Regulation (FCCR) will start its work in spring 2022. The new institution has been initiated by Professors Roland Koch and Julia Redenius-Hövermann, both of whom are involved in Frankfurt School’s teaching and research.
In many areas, regulation – whether of the environment, financial markets or commercial competition – is not just required, but makes good sense. But how best to set up regulatory frameworks that fulfil their objectives? The new centre aims to establish firmly the scientific analysis of regulatory consequences prior to the implementation of new regulations. This involves working out general principles that my be universally applicable to all forms of regulation in terms of procedure, purpose and ongoing evaluation. These principles can then be used as a basis for formulating actual regulations for individual areas of application, in each case modified to meet their specific needs.
The new centre draws on multiple areas of academic expertise at Frankfurt School, including finance, law, digitalisation, environmental economics and the philosophy of economics. To add to these resources, Frankfurt School is establishing two new professorial posts, both closely associated with the new research centre’s work. The new Professor of Economics post will focus on assessing the macroeconomic consequences of regulatory actions, while the Professor of Law post will focus on financial and regulatory legislation. The centre will also collaborate with visiting scholars in areas such as politics and management.
Professor Dr hc Roland Koch, Professor of Management Practice in Regulated Environments: “The new competence centre aims to be a powerhouse and platform for coordinating and developing regulatory strategies. With this in mind, we are adopting an interdisciplinary approach right from the start. Our ultimate objective is to formulate application-focused rule-making based on real-world experience.”
Professor Dr iur. habil. Julia Redenius-Hövermann, LL. M., Professor of Civil and Company Law, adds: “From a legal standpoint, what interests us are the instruments, functions and methods of regulatory systems. This is why we need interdisciplinary discourse with experts for example in government, because they are examining the development processes of rules and standards in a society, as well as their impact beyond the jurisprudential perspective.”
For Professor Dr Nils Stieglitz, President of Frankfurt School of Finance & Management, the competence centre is a milestone in Frankfurt School’s development: “One of Frankfurt School’s key strategic objectives is to skilfully translate our research excellence into impactful knowledge for practitioners, directly benefiting business and society. The founding of the Frankfurt Competence Center of German and Global Regulation is yet another example of our continuing efforts to put this aspiration into practice.”