Carbó Valverde, Santiago

Department: Economía


 BA in Economics (Universidad de Valencia, Spain), PhD in Economics and Master in Banking and Finance (University of Wales, Bangor, UK). He is Professor of Economics and Finance at CUNEF Business School. He is also Professor of Economics and Finance at the Bangor Business School, UK (part-time). He is also the Head of Financial Studies and Executive Director of the Observatory of Financial Digitalization of Funcas Foundation. He has published articles in peer-reviewed journals such as Review of Economics and Statistics, European Economic Review, Review of Finance, Journal of Corporate Finance, Journal of Money, Credit and Banking, Journal of International Money and Finance, Journal of Banking and Finance,  European Urban and Regional Studies, Journal of Productivity Analysis, Review of Network Economics, Annals of Regional Science, European Financial Management y Spanish Economic Review. He interacts frequently with the press and media and publishes a weekly article in the newspaper El Pais.


Ph. D. in Economics, University of Wales, Bangor (Reino Unido), 1993

Master in Banking and Finance, University of Wales, Bangor (Reino Unido), 1990.

Licenciado (B.A.) en Ciencias Económicas, Universidad de Valencia, 1989  

Research Interests

Economics of banking: regulation, competition, digitalisation, securitisation, underwriting, lending to the real economy.


Professor of Economics and Finance at CUNEF Business School, of Bangor University (part-time) and of the University of Granada (on leave)

Head of Financial Studies and Executive Director of the Observatory of Financial Digitalization of Funcas Foundation.

Senior Researcher at Instituto Valenciano de Investigaciones Económicas (Ivie)

Consultant at the Federal Reserve Bank of Chicago and at the European Central Bank alongside being a member of the Group of Economic Advisors of ESMA (European Securities and Market Authority)

Independent board member and Chairman of the Audit Comission at Cecabank. 

Publications in Scientific Journals

Carbo-Valverde, S., Cuadros Solas, P.J. and F. Rodríguez Fernández (2017), "Do banks and industrial companies have equal access to reputable underwriters in debt markets?", Journal of Corporate Finance, vol 45, 176-202.

Carbo-Valverde, S., Chakravorti, B. and F. Rodríguez Fernández (2016), "The Role of Interchange Fees in Two-sided Markets: An Empirical Investigation on Payment Cards", The Review of Economics and Statistics,vol. 98 (2), págs 367-381.

Carbo-Valverde, S., F. Rodríguez Fernández and G. Udell, (2016), "Trade credit, the Financial Crisis and Firms Access to Finance", Journal of Money, Credit and Banking, vol. 48, nº 1, págs. 113-143

Carbo-Valverde, S. Hannan, T. and F. Rodríguez Fernández,(2011), "Exploiting Old Customers and Attracting New Ones: the case of Bank Deposit Pricing", European Economic Review, vol. 55, 903-915.

Carbo-Valverde, S., Rodríguez Fernández, F. and G. Udell (2009), "Bank market power and SME financing constraints", Review of Finance, vol. 13, 309-340


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