Today for the first time, the Economic and Social Research Council (ESRC) recognised two global centres of excellence with official ESRC Research Institute status. One of these is the Centre for the Microeconomic Analysis of Public Policy (CPP), which is based at IFS. The other is the Centre for Economic Performance (CEP), at LSE.
The move acknowledges those centres which have demonstrated sustained strategic value to the Council, as well as to the broader social science research landscape, with long-term, five-year funding. Both CEP and CPP have demonstrated significant impact over the long term on public debates around policy in their areas, particularly in economic and fiscal policy. They are also key centres of excellence for training researchers, building expertise and skills within the UK research community in these areas, to compete at an international level.
Successful application for Institute status will provide long-term funding (with review every five years) for the new Institute to pursue independent research into ongoing, complex research and societal challenges, as well as to respond promptly in cases of national need.
Professor Sir Mark Walport, UK Research and Innovation Chief Executive, said: “These two ESRC Institutes represent landmark investments in the national research landscape. They will continue to play a vital influence in maintaining the UK’s international standing at the cutting edge of economic research, and in influencing thinking on economic and fiscal policy nationally, and globally. We are delighted that they have been recognised for their achievements to-date and look forward to their future relationship with UK Research and Innovation in helping shape the future of economic research and policy.”
Professor Sir Richard Blundell, Director ESRC Centre for the Microeconomic Analysis of Public Policy at IFS, said: "We are delighted with the recognition the ESRC has given to us with the award of Research Institute status. Over the last 25 years and more the ESRC has been key to the success of IFS. Centre funding has allowed us to bring rigorous evidence-based research to the analysis of public policy. It has provided a unique environment for building new generations of economists who have gone on to take leading roles both in public policy, the media and academia. It has allowed IFS to respond swiftly, authoritatively and independently to the changing public policy debate. In recognising the international excellence of our work, Institute status also provides us with stability for the future development of our ambitious research programme. We intend to ensure that we maintain our global leadership and enhance our public policy influence."