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Darla Moore School of Business


Allen N. Berger

Title: Carolina Distinguished Professor
H. Montague Osteen, Jr., Professor of Banking and Finance
Department: Finance
Darla Moore School of Business
Phone: 803-576-8440
Office: Darla Moore School of Business, Room 457G
Resources: Curriculum Vitae [PDF]
Allen Berger headshot


Allen N. Berger is the H. Montague Osteen, Jr., Professor in Banking and Finance in the Finance Department, Darla Moore School of Business, University of South Carolina, since 2008. He is also Ph.D. coordinator of the Finance Department, Carolina Distinguished Professor of the University, and Co-Director of the Center for Financial Institutions at the Darla Moore School of Business. Outside the University, he is currently President and Conference Program Chair of the Financial Intermediation Research Society (FIRS), a global research organization. He is also Senior Fellow at the Wharton Financial Institutions Center and Fellow of the European Banking Center, and currently serves on the editorial boards of nine professional finance and economics journals. Professor Berger was editor of the Journal of Money, Credit, and Banking from 1994-2001, is co-editor of eight special issues of various research journals and three research books, and co-organizer of a number of research conferences.

His research covers a variety of topics related to financial institutions. He has published over 165 research articles, including over 125 in refereed journals. These include papers in top finance journals, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Review of Finance, Journal of Financial Intermediation, and Journal of Corporate Finance; top economics journals, Journal of Political Economy, American Economic Review, Review of Economics and Statistics, and Journal of Monetary Economics; and other top professional business journals, Management Science, Journal of Business, and European Journal of Operational Research.

Professor Berger is also co-author of two full-length research books, TARP and other Bank Bailouts and Bail-Ins around the World: Connecting Wall Street, Main Street, and the Financial System (2020, Elsevier), and Bank Liquidity Creation and Financial Crises (2016, Elsevier). He is also co-editor of all three editions of the Oxford Handbook of Banking, 2010, 2015, and 2019.

His research has been cited over 90,000 times according to Google Scholar, including 30 different articles with over 1,000 citations each, and another 19 with over 500 citations each, and he has an h-index of 107. He has published at least one article in a refereed journal every year except one from 1987 to 2022. He has given invited keynote addresses on five continents and has been a visiting scholar at several Federal Reserve Banks and central banks of other nations.

Professor Berger received the University of South Carolina Educational Foundation Award for Research in Professional Schools for 2018 and was named Professor of the Year for 2015-2016 by the Darla Moore School of Business Doctoral Students Association. He also has won a number of best paper awards from different journals and finance conferences.

He was Secretary/Treasurer, Financial Intermediation Research Society (FIRS) from 2008-2016; and Senior Economist from 1989 to 2008 and Economist from 1982-1989 at the Board of Governors of the Federal Reserve System. He received a Ph.D. in Economics from the University of California, Berkeley in 1983, and a B.A. in Economics from Northwestern University in 1976.

Data on bank liquidity creation based on the concept originated in:
Berger, Allen N. and Christa H.S. Bouwman, 2009. “Bank Liquidity Creation,” Review of Financial Studies 22, 3779-3837.
Can be found at:

Data on bank liquidity hoarding based on the concept originated in:
Berger, Allen N., Omrane Guedhami, Hugh H. Kim, and Xinming Li, Forthcoming, “Economic Policy Uncertainty and Bank Liquidity Hoarding,” Journal of Financial Intermediation.
Can be found at:


His research covers a variety of topics related to financial institutions.


  • Ph.D., University of California, Berkeley, 1983
  • M.A., University of California, Berkeley, 1979
  • B.A., Northwestern University, 1976

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