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University of Exeter Business School

Professor John Maloney

Professor John Maloney

Associate Professor of Economics


 +44 (0) 1392 723202

 Streatham Court 0.34


Streatham Court, University of Exeter, Rennes Drive, Exeter, EX4 4PU, UK


Professor John Maloney graduated in Economics from Cambridge University and completed his PhD in Economic History (University of Nottingham) while a lecturer at the then Plymouth Polytechnic. Outside the academic sector, he has worked as a journalist in Iran and as a researcher at the Treasury. He has been at the University of Exeter since 1990, becoming an Associate Professor in 2006, and in 2009 he received a double national teaching excellence award (colleague-nominated and student-nomionated categories) from the Learning and Teaching Support Network (Economics).

Nationality: British

Administrative responsibilities

  • Chair of the Board of Studies, B.Sc. Economics and Politics


BA (Cantab), PhD (Notts)

Research group links

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Research interests

  • Macroeconomics
  • History of economic thought

Professor Maloney's research in macroeconomics has included a project funded by the Nuffield Foundation to look at the effects of central bank independence, or lack of it, on 20 Western economies. In the history of economics thought, Professor Maloney has published books on Alfred Marshall and on Robert Lowe (classical economist and 19th century Chancellor). His two current projects are on British economic policy in the 1970s (funded by Nuffield) and a series of linked studies of voting behaviour, particularly its economic dimension (funded by the Leverhulme Trust).

Research projects

Professor Maloney is currently supervising three PhD students, all on the theme of finance and development. For more detail on the project on elections (with Robert Hodgson), see Economics and Elections - funded by The Leverhulme Trust (doc - 37kb).

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Maloney J (2005). The political economy of Robert Lowe., Palgrave MacMillan.

Journal articles

Maloney J, Pickering A (2018). The Economic Consequences of Political Donation Limits. Economica, 85(339), 479-517. Abstract.
Maloney J, Barkovic-Parsons, C. Hodgson R (2017). Are marginals different? Evidence from British elections, 1950-2015. Public Choice, 171
Maloney J, Pickering A (2015). Voting and the economic cycle. Public Choice, 162(1), 119-133. Abstract.
Maloney J (2014). The Historiography of Economics: the Collected Papers of A.W. Coats: Volume III. The European Journal of the History of Economic Thought, 21(3), 526-529.
Hodgson R, Maloney J (2013). Bandwagon effects in British elections, 1885-1910. Public Choice, 157(1-2), 73-90. Abstract.
Maloney J, Pickering AC (2013). Party activists, campaign funding, and the quality of government. Journal of Law, Economics, and Organization, 29(1), 210-238. Abstract.
Hodgson R, Maloney J (2012). Economic voting in Britain, 1857–1914. Electoral Studies, 31(4), 668-678.
Maloney J (2012). The Intellectual Foundations of Alfred Marshall’s Economic Science: a Rounded Globe of Knowledge. History of Political Economy, 44(1), 189-191.
Maloney J (2012). The treasury and the New Cambridge School in the 1970s. Cambridge Journal of Economics, 36(4), 997-1017. Abstract.
Maloney J (2011). No wealth but life: welfare economics and the welfare state in Britain, 1880-1945. Economic History Review, 64(4), 1399-1401.
Maloney J (2011). Straightening the phillips curve, 1968-1976. European Journal of the History of Economic Thought, 18(3), 407-440. Abstract.
Maloney J (2008). AW Bob coats, 1924-2007. European Journal of the History of Economic Thought, 15(1), 129-133.
Maloney J (2008). From the Corn Laws to free trade: Interests, ideas, and institutions in historical perspective. History of Political Economy, 40(2), 413-414.
Maloney J (2006). Britain's single currency debate of the late 1860s. European Journal of the History of Economic Though, 13(4), 513-531. Abstract.
Maloney J (2006). Gladstones Gladstone? the Chancellorship of Robert Lowe 1868-73. Historical Research, 79(205), 404-428.
Maloney J (2005). Robert Lowe, the Times and Political Economy. Journal of the History of Economic Thought, 27(1), 41-58.
Maloney J, Pearson BR, Pickering AC (2003). Behind the cube rule: implications of, and evidence against a fractal electoral geography. Environment and Planning A, 35(8), 1405-1414.
Maloney J, Hadri K, Pickering AC (2003). Political Business Cycles and Central Bank Independence. The Economic Journal, 113(486), C167-C181.
Arabsheibani G, de Meza D, Maloney J, Pearson B (2000). And a vision appeared unto them of a great profit: evidence of self-deception among the self-employed. Economics Letters, 67(1), 35-41. Abstract.
Maloney J, Macmillen M (1999). Do currency unions grow too large for their own good?. Economic Journal, 109(458), 572-587. Abstract.
Hadri K, Lockwood B, Maloney J (1998). Does central bank independence smooth the political business cycle in inflation? Some OECD evidence. Manchester School, 66(4), 377-395. Abstract.


Maloney J (2013). Memorial address. In  (Ed) Mark Blaug: Rebel with Many Causes, 11-13.
Maloney J, Boylan T (2010). Charles Francis Bastable on Trade and Public Finance. In Boylan T, Prendergast R, Turner J (Eds.) Ireland and Politcal Economy: Towards a History of Irish Economic Thought, London: Routledge. Abstract.

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External Engagement and Impact

Conferences and invited presentations

  • 2019: delivered the Ned Welch memorial lecture on the subject of 'Merrie England'

External positions

  • University's representative on the Learning & Teaching support network (Economics)
  • Editorial Board, Marshall Studies Bulletin

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For most of Professor Maloney's career, his teaching has centred on macroeconomics. Unusually, he is not doing any macro teaching at the moment. An increasing interest in recent years has been growth and development economics, and in 2007 Professor Maloney was responsible for restoring this to the Exeter undergraduate syllabus after a long absence. While the history of economic thought is more a research interest, it does nonetheless inform his first-year module Introduction to Political Economy, which looks at policy questions through the eyes of leading economists of the past as well as the present.



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