Since 1 October 2018, Alessio Pacces is full professor of Law and Finance at the Amsterdam Law School and the Amsterdam Business School. Alessio will also be the new director of the Amsterdam Center for Law and Economics (ACLE). Previously, he was endowed professor of Law and Finance at the Erasmus School of Law. ‘I believe that change is necessary to maintain vision’.
Why did you make the ‘move’ from EUR to the UvA?
‘I believe that change is necessary to maintain vision. In academia as elsewhere, people staying always in one place might run out of good ideas. That said, I owe much to Erasmus University Rotterdam. In 12 years, I grew professionally and had the opportunity to modernize the European Master in Law and Economics, from which I graduated in 1995, securing as director a fourth round of EU funding for this programme.'
All good things come to an end. I am excited to take this new challenge at UvA. Combining an appointment at the Law School and the Business School seem to me the perfect opportunity to pursue my overarching intellectual goal, which is the integration of law and economics. Besides, I have always heard that Amsterdammers have such a different style from Rotterdammers. I look forward to appreciating this difference!’
How would you describe your research interests and research goals in Amsterdam?
‘Since my early years as graduate student and then researcher, I have always been interested in the interaction between law and economics. Within this domain, law and finance is particularly exciting because it is about change, economic growth, and the legal rules which are instrumental in stimulating and sustaining such dynamism. It is policy relevant because finance does not only provide opportunities for the progress we all enjoy, but may also cause much pain to societies.
In this context, I would like to engage with research topics such as corporate governance (which rules support innovation, and how can companies get these?), the economics of financial regulation (which rules and accountability regimes support financials stability?), and the digitalization of finance and law (what are the risks and the opportunities, and how do legal systems deal with those?).
My main goal is to establish cooperation on law and economics research with as many UvA colleagues as possible, certainly from the law school and the business school, but possibly from other faculties too. Law and economics have become a powerful method to analyse societal problems broadly, as it combines legal analysis with input from economics and other behavioural – and today, data – sciences. Being such knowledge widely represented by UvA excellent researchers, I would like to see UvA become the most important law and economics centre in Europe, in terms of size, impact, and relevance.’
What are your educational plans and goals as a professor at the Amsterdam Law School?
‘I would like particularly our graduate students to develop so-called transversal skills. I would like for example my students to learn how to discuss with investment bankers alternative legal arrangements to implement M&A, or with policymakers the financial stability consequences of different debt contracts.
More in general, I would like to teach law in the economic context in which it operates. This approach, I believe, will appeal to an increasingly international and curious audience of law students. The same approach seems also to be relevant for the prospective employers of Amsterdam law students, such as law firms, consultancies, and policymakers. They are increasingly interested in interdisciplinary and transnational skills, particularly in the law and finance sector.’
About Alessio Pacces
Alessio holds a PhD cum laude from the Erasmus University Rotterdam, a cum laude degree in economics from the LUISS University of Rome and the European Master in Law and Economics (Universities of Hamburg and Manchester), which was awarded with distinction and the first prize for the best thesis.
Alessio's research interests are in Corporate Governance, Law and Finance, and the Economics of Financial Regulation. In these fields, he has published books, chapters and peer-reviewed articles and has been invited to speak by the OECD, the ECB and the European Commission. His research was published in journals such as Harvard Business Law Review, American Business Law Journal, and International Review of Law and Economics, among others. He is a member of the Italian, European and the American Associations of Law and Economics.
Before moving to academia, Alessio had senior and junior positions at Banca d’Italia, Consob, and Guardia di Finanza.