Professor Paul Grout

Professor Paul Grout

Professor Paul Grout
Professor of Political Economy

The Priory Road Complex, Priory Road, Clifton
(See a map)

Telephone Number (0117) 928 8903

Department of Economics

Personal profile

Paul Grout is Professor of Political Economy at the University of Bristol. His main research interests are in public economics, law and economics, and finance and he has published extensively in these fields (e.g., in Econometrica, Review of Economic Studies, Journal of Financial Economics, Journal of Public Economics, American Bar Association).

He is also a Non-Executive Director of Ofgem (the UK energy regulator) and the Senior Advisor on Competition at the Bank of England.

He was founding director of the Centre for Market and Public Organisation; was a member of the Executive Committee, Council and trustee of the Royal Economic Society; the inaugural Tinbergen Research Fellow at the Netherlands Bureau for Economic Policy Analysis, was on the Editorial Board of the Review for Economic Studies and director of the Review of Economic Studies Ltd for many years; and is a Research Fellow of CEPR.

He has advised many UK and international government departments and public bodies; has been advisor to the House of Lords Economic Affairs Committee; and a member of a CBI Taskforce. Recent keynote addresses include speeches at the World Bank; IESE (Barcelona); and European Commission’s EuroSocial Taxation Conference (Mexico).



ECONM1014: MSc Economics for Finance and Management
ECONM1019: MSc Public Organisation
ECONM2037: MSc Law and Economics

Fields of interest

Public Organisation, Law and Economics, Finance

Latest publications

  1. Grout, PA, Zalewska, A & Garside, LBE 2013, ‘Does experience make you ‘tougher’? Evidence from competition law’. The Economic Journal, vol 123., pp. 474-490
  2. Grout, PA, Jenkins, AG & Zalewska, A 2013, ‘Regulatory valuation of public utilities: A case study of the 20th century.’. Business History.
  3. Grout, P & Zalewska, A 2012, ‘The effect of option granting on executive stock purchases’. Economics Letters, vol 114., pp. 12 - 15
  4. Gregg, P, Grout, P, Ratcliffe, A, Smith, S & Windmeijer, F 2011, ‘How important is pro-social behaviour in the delivery of public services?’. Journal of Public Economics, vol 95., pp. 758 - 766
  5. Grout, P & A., Z 2008, ‘Measuring the Rate of Return for Competition Law’. Journal of Competition Law and Economics, vol 4., pp. 155 - 176
  6. Grout, P & Sonderegger, S 2008, ‘The Quest for Cartels’. in: WD Collins (eds) Issues in Competition Law and Policy, Vol I. American Bar Association, pp. 1085 - 1106
  7. Grout, P & Zalewska, A 2008, ‘Profitability Measures’. in: WD Collins (eds) Issues in Competition Law and Policy, Vol I. American Bar Association, pp. 373 - 392
  8. Grout, P, Jewitt, I & Sonderegger, S 2007, ‘Governance Reform in Legal Service Markets’. The Economic Journal, vol 117 (519)., pp. C93 - C113
  9. Grout, P & Sonderegger, S 2007, ‘Structural Approaches to Cartel Detection’. in: Ehlermann , C-D , I Atanasiu (eds) European Competition Law Annual: 2006. Enforcement of Prohibition of Cartels. Hart Publishing, pp. 83 - 103
  10. Grout, P & Zalewska, A 2006, ‘The impact of regulation on market risk’. Journal of Financial Economics, vol 80 (1)., pp. 149 - 184
  11. Grout, P & Sonderegger, S 2006, ‘Simple money-based tests for choosing between private and public delivery: a discussion of the issues’. Review of Industrial Organization, vol 29 (1-2)., pp. 93 - 126
  12. Grout, P & Zalewska, A 2005, ‘On the Undervaluation of Privatized Companies’. Economics Letters, vol 86(2)., pp. 215 - 220
  13. Grout, P & Park, I-U 2005, ‘Competitive planned obsolescence’. RAND Journal of Economics, vol 36 (3)., pp. 596 - 612
  14. Grout, P, Yong, M & Flockton, C 2005, ‘Financial Regulation and Supervision’. in: Compston (eds) Handbook of Public Policy in Europe. Palgrave
  15. Grout, P & Sonderegger, S 2005, ‘Predicting Cartels (OFT 773)’. Office of Fair Trading
  16. Grout, P & Park, I-U 2004, ‘Promoting competition in the presence of essential facilities’. International Journal of Industrial Organization, vol 22 (10)., pp. 1415 - 1441
  17. Grout, P, Jenkins, A & Zalewska, A 2004, ‘Privatisation of utilities and the asset value problem’. European Economic Review, vol 48 (4)., pp. 927 - 941
  18. Grout, P 2004, ‘Defining a Price Squeeze in Competition Law’. in: E Hope (eds) The Pros and Cons of Low Prices. Swedish Competition Authority
  19. Grout, P 2003, ‘Public and private sector discount rates in public-private partnerships’. Economic Journal, vol 113 (486)., pp. C62 - C68
  20. Grout, P & Zalewska, A 2003, ‘Do Regulatory Changes Affect Market Risk?’. LIFE Working Paper 03/022, University of Bristol
  21. Grout, P & Yong, M 2003, ‘The Role of Donated Labour and Not-For-Profits at the Public Private Interface’. CMPO Working Paper 03/074, University of Bristol
  22. Grout, P 2003, ‘Is There Real Missing Risk in Public Private Partnerships?’. Public Private Finance.
  23. Grout, P & Stevens, M 2003, ‘Financing and Managing Public Services: An Assessment’. CMPO Working Paper 03/076, University of Bristol
  24. Grout, P & Stevens, M 2003, ‘The Assessment: Financing and Managing Public Services’. Oxford Review of Economic Policy, vol Volume 19., pp. 215 - 234
  25. Grout, PA 1997, ‘The Economics of the privet finance iniative’. Oxford Review of Economic Policy, vol 13., pp. 53-66

Full publications list in the University of Bristol publications system

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