Profile

Former Head of Bangor Business School and Professor of Economics

John Thornton is a Financial Stability Advisor with the US Department of the Treasury in Washington DC, USA and Visiting Professor in the Norwich Business School, University of East Anglia, Uk. Previously, he was Head of Bangor Business School and Professor of Economics. Prior to joining Bangor Business School in 2008 he was with the International Monetary Fund (IMF) in Washington DC, where he was, respectively, an Assistant Director in the Western Hemisphere Department, the Fiscal Affairs Department, and in the Middle East and Central Asia Department. He also held posts as the IMF resident representative in Nepal and in Costa Rica.

Professor Thornton has also been a staff member of the Economics Department of the Organization of Economic Development and Cooperation in Paris, and was Vice President of Economics at Merrill Lynch International in London. He previously spent a year as Lecturer in Banking and Finance at Bangor University and was a Lecturer in Macroeconomics at the Institut d’Etudes Politiques de Paris.

Education

PhD Economics, CASS Business School, London

MSc Economics, University of London

BSc Economics, University of Wales

E-bost: j.thornton@bangor.ac.uk

Research and Teaching Interests

Macroeconomic policy in emerging market economies; finance and economic development; financial market regulation; macroeconomic management and fiscal decentralization; economics of terrorism.

2024

• CyhoeddwydDo female CEOs handle crises better? Evidence from the COVID-19 pandemic+
  Vasilakis, C. & Thornton, J., Medi 2024, Yn: Economics and Business Letters. 13, 3, t. 158-171
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• E-gyhoeddi cyn argraffuInterpersonal population diversity in the Bank Boardroom and corporate misconduct
  Vasilakis, C. & Thornton, J., 9 Gorff 2024, (E-gyhoeddi cyn argraffu) Yn: Journal of Accounting Literature.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydModelling Monetary and Fiscal Policy to Achieve Climate Goals
  Altunbas, Y., Qu, X. & Thornton, J., 1 Maw 2024, RED Nacional de Investigadores en Economia.
  Allbwn ymchwil: Papur gweithio › Papur Gwaith
• CyhoeddwydThe impact of finance on income inequality: A threshold analysis
  Thornton, J. & Vasilakis, C., 22 Mai 2024, Yn: Economics and Business Letters. 13, 2
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2023

• CyhoeddwydBank regulations and surges and stops in credit: panel evidence
  Thornton, J. & Vasilakis, C., Awst 2023, Yn: Journal of Financial Stability. 67, 101134.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydDisclosure and bank risk: Evidence from European banks
  Altunbas, Y., Khan, A. & Thornton, J., 1 Rhag 2023, Yn: Finance Research Letters. 58, part B, 8 t., 104499.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydDo M&As impact firm carbon intensity?
  Altunbas, Y., Khan, A. & Thornton, J., Rhag 2023, Yn: Energy Economics. 128, 12 t., 107197.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydMore foreign aid, less financial development
  Altunbas, Y., Thornton, J. & Vasilakis, C., 1 Tach 2023, Yn: Economia Internazionale/International Economics. 76, 4, t. 495-528 34 t.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2022

• CyhoeddwydDoes inflation targeting increase income inequality?
  Altunbas, Y. & Thornton, J., 28 Gorff 2022, Yn: Journal of Post Keynesian Economics. 45, 4, t. 558–580 23 t., 4.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2021

• CyhoeddwydEuropean Banking Union and bank risk disclosure: the effects of the Single Supervisory Mechanism
  Altunbas, Y., Polizzi, S., Scannella, E. & Thornton, J., 15 Gorff 2021, Yn: Review of Quantitative Finance and Accounting.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydMoney laundering and bank risk: evidence from US banks
  Altunbas, Y., Thornton, J. & Uymaz, Y., Hyd 2021, Yn: International Journal of Finance and Economics. 26, 4, t. 4879-4894
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe effect of nonperforming loans on credit expansion: do capital and profitability matter? Evidence from European banks
  Thornton, J. & Di Tommaso, C., Gorff 2021, Yn: International Journal of Finance and Economics. 26, 3, t. 4822-4839
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2020

• CyhoeddwydDid negative interest rates improve bank lending?
  Molyneux, P., Reghezza, A., Thornton, J. & Xie, R., Chwef 2020, Yn: Journal of Financial Services Research. 57, 1, t. 51-68
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydDo ESG scores effect bank risk taking and value? Evidence from European Banks
  Di Tommaso, C. & Thornton, J., Medi 2020, Yn: Corporate Social Responsibility and Environmental Management. 27, 5, t. 2286-2298
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydDo fiscal rules reduce government borrowing costs in developing countries?
  Thornton, J. & Vasilakis, C., 13 Hyd 2020, Yn: International Journal of Finance and Economics. 25, 4, t. 499-510
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydDo personal connections improve sovereign credit ratings?
  Klusak, P., Thornton, J. & Uymaz, Y., Maw 2020, Yn: Finance Research Letters. 33, 101194.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydExpectations in an open economy hyperinflation: evidence from Germany 1921-23
  Reghezza, A., Seghezza, E. & Thornton, J., Gorff 2020, Yn: Economics Letters. 192, 109176.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydFinance and income inequality revisited
  Altunbas, Y. & Thornton, J., Tach 2020, Yn: Finance Research Letters. 37, 101355.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydLiquidity and capital in bank lending: Evidence from European banks
  Thornton, J. & Di Tommaso, C., Mai 2020, Yn: Finance Research Letters. 34, 101273.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe effect of CEO power on bank risk: Do boards and institutional investors matter?
  Altunbaş, Y., Thornton, J. & Uymaz, Y., Maw 2020, Yn: Finance Research Letters. 33, t. 101202 1 t.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe long-run relationship between finance and income inequality: Evidence from panel data
  Thornton, J. & Di Tommaso, C., Ion 2020, Yn: Finance Research Letters. 32, 101180.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2019

• CyhoeddwydNegative policy interest rates and exchange rate behavior: Further results
  Thornton, J. & Vasilakis, C., Meh 2019, Yn: Finance Research Letters. 29, t. 61-67
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe impact of financial development on income inequality: A quantile regression approach
  Altunbas, Y. & Thornton, J., Chwef 2019, Yn: Economics Letters. 175, t. 51-56
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2018

• CyhoeddwydCEO tenure and corporate misconduct: Evidence from US banks
  Altunbas, Y., Thornton, J. & Uymaz, Y., Medi 2018, Yn: Finance Research Letters. 26, September, t. 1-8
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydCredit default swaps and regulatory capital relief
  Thornton, J. & Di Tommaso, C., Medi 2018, Yn: Finance Research Letters. 26, 9, t. 255-260
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydFiscal rules and Government borrowing costs: International evidence
  Thornton, J. & Vasilakis, C., Ion 2018, Yn: Economic Inquiry. 56, 1, t. 446-459
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydUnconventional monetary policy and the currency wars
  Thornton, J. & Di Tommaso, C., Medi 2018, Yn: Finance Research Letters. 26, t. 250-254
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2017

• CyhoeddwydInflation targeting and the cyclicality of monetary policy
  Thornton, J. & Vasilakis, C., Chwef 2017, Yn: Finance Research Letters. 20, t. 296-302
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe impact of fiscal rules on sovereign risk premia: International evidence
  Thornton, J. & Vasilakis, C., Chwef 2017, Yn: Finance Research Letters. t. 63-67
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydWhat determines bank CDS spreads? Evidence from European banks
  Drago, D., Thornton, J. & Di Tommaso, C., Awst 2017, Yn: Finance Research Letters. 22, 8, t. 140-145
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2016

• CyhoeddwydDo better-capitalized banks lend less? Evidence from European banks
  Altunbas, Y., Di Tommaso, C. & Thornton, J., Mai 2016, Yn: Finance Research Letters. 17, t. 246-250
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydDoes inflation targeting reduce sovereign risk? Further evidence
  Thornton, J. & Vasilakis, C., Awst 2016, Yn: Finance Research Letters. 18, August, t. 237-241
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydInflation targeting in developing countries revisited
  Thornton, J., Chwef 2016, Yn: Finance Research Letters. 16, 2, t. 143-153
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydIs there a financial accelerator in European banking?
  Altunbas, Y., Di Tommaso, C. & Thornton, J., Mai 2016, Yn: Finance Research Letters. 17, t. 218-221
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydWhy do countries adopt fiscal rules?
  Altunbas, Y. & Thornton, J., 5 Rhag 2016, Yn: Manchester School. 85, 1, t. 65-87
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2015

• CyhoeddwydTax Havens and Effective Tax Rates: An Analysis of Private versus Public European Firms
  Thornton, J. S. & Jaafar, A., 1 Rhag 2015, Yn: International Journal of Accounting. 50, 4, t. 435-457
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2014

• CyhoeddwydThe (small) blessing of foreign aid: further evidence on aid’s impact on democracy
  Altunbas, Y. & Thornton, J., 20 Awst 2014, Yn: Applied Economics. 46, 32, t. 3922-3930
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2012

• CyhoeddwydDoes financial development reduce corruption?
  Altunbas, Y. & Thornton, J. S., 1 Chwef 2012, Yn: Economics Letters. 114, 2, t. 221-223
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydFiscal Decentralization and Governance
  Altunbas, Y., Thornton, J. S., Altunbaş, Y. & Thornton, J., 1 Ion 2012, Yn: Public Finance Review. 40, 1, t. 66-85
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2011

• CyhoeddwydAre Homegrown Islamic Terrorists Different? Some UK Evidence
  Altunbas, Y. & Thornton, J. S., 1 Ion 2011, Yn: Southern Economic Journal. 78, 2, t. 262-272
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2010

• CyhoeddwydFiscal decentralization and fiscal consolidations in emerging market economies.
  Thornton, J. S., Thornton, J. & Adedji, O., 1 Gorff 2010, Yn: Applied Economics Letters. 17, 11, t. 1043-1047
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydFiscal sustainability in a panel of Asian countries.
  Thornton, J. S., Thornton, J. & Adedji, O., 1 Mai 2010, Yn: Applied Economics Letters. 17, 7, t. 711-715
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydGovernment size and the stability of output: evidence from emerging market economies.
  Thornton, J. S. & Thornton, J., 1 Meh 2010, Yn: Applied Economics Letters. 17, 8, t. 733-736
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydUnit roots, structural breaks and cointegration in the UK public finances, 1750-2004.
  Thornton, J. S., Lusinyan, L. & Thornton, J., 10 Meh 2010, Yn: Applied Economics.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydWho chooses to adopt fiscal responsibility laws? Evidence from emerging market economies.
  Thornton, J. S. & Thornton, J., 1 Meh 2010, Yn: Applied Economics Letters. 17, 8, t. 737-740
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2009

• CyhoeddwydComment on Edin and Jaffee: From banking crisis to currency crisis.
  Thornton, J. S. & Thornton, J., 1 Medi 2009, Yn: Economists' Voice. 6, 10, t. Article 1
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydDo fiscal responsibility laws matter? Evidence from emerging market economies suggests not.
  Thornton, J. S. & Thornton, J., 1 Meh 2009, Yn: Journal of Economic Policy Reform. 12, 2, t. 127-132
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydNatural resource endowments and the domestic revenue effort.
  Bornhorst, F., Gupta, S. & Thornton, J. S., 1 Rhag 2009, Yn: European Journal of Political Economy. 25, 4, t. 439-446
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydOn the relation between central and sub-national government fiscal balances.
  Thornton, J. S. & Thornton, J., 1 Ion 2009, Yn: Applied Economics Letters.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe (non)impact of revenue decentralization on fiscal deficits: some evidence from OECD countries.
  Thornton, J. S. & Thornton, J., 1 Medi 2009, Yn: Applied Economics Letters. 16, 14, t. 1461-1466
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe sustainability of South African fiscal policy: an historical perspective.
  Thornton, J. S., Thornton, J. & Lusinyan, L., 1 Maw 2009, Yn: Applied Economics. 41, 7, t. 859-868
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2008

• CyhoeddwydCorruption And The Composition Of Tax Revenue In Middle East And African Economies.
  Thornton, J. S. & Thornton, J., 1 Meh 2008, Yn: South African Journal of Economics. 76, 2, t. 316-320
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydExplaining African fiscal procyclicality.
  Thornton, J. S. & Thornton, J., 1 Ion 2008, Yn: Journal of African Economies. 17, 3, t. 451-464
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydFiscal Institutions and the Relation between Central and Sub-National Government Fiscal Balances.
  Thornton, J. S., Thornton, J. & Mati, A., 1 Ion 2008, Yn: Public Finance Review. 36, 2, t. 243-254
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydInflation and inflation uncertainty in Argentina, 1810-2005.
  Thornton, J. S., 1 Maw 2008, Yn: Economics Letters. 98, 3, t. 247-252
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydInternational capital mobility: Evidence from panel cointegration tests.
  Thornton, J. S., Thornton, J. & Adedji, O., 1 Mai 2008, Yn: Economics Letters. 99, 2, t. 349-352
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydMoney, output and inflation in African economies.
  Thornton, J. S. & Thornton, J., 1 Medi 2008, Yn: South African Journal of Economics. 76, 3, t. 356-366
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydNatural resource endowments, governance, and the domestic revenue effort: evidence from a panel of countries.
  Thornton, J. S., Thornton, J., Bornhorst, F. & Gupta, S., 1 Gorff 2008, Unknown.
  Allbwn ymchwil: Llyfr/Adroddiad › Adroddiad Comisiwn
• CyhoeddwydThe (non) impact of evenue decentralization on fiscal deficits: some evidence from OECD economies.
  Thornton, J. S. & Thornton, J., 29 Ion 2008, Yn: Applied Economics Letters.
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe exchange rate and fiscal consolidation episodes in emerging market economies.
  Thornton, J. S. & Mati, A., 1 Gorff 2008, Yn: Economics Letters. 100, 1, t. 115-118
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2007

• CyhoeddwydFiscal decentralization and economic growth reconsidered.
  Thornton, J. S. & Thornton, J., 1 Ion 2007, Yn: Journal of Urban Economics. 61, 1, t. 64-70
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydFurther evidence on revenue decentralization and inflation.
  Thornton, J. S. & Thornton, J., 1 Ion 2007, Yn: Economics Letters. 95, 1, t. 140-145
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydOn the cyclicality of South African fiscal policy.
  Thornton, J. S. & Thornton, J., 1 Meh 2007, Yn: South African Journal of Economics. 72, 2, t. 258-264
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydSaving, investment and capital mobility in African countries.
  Thornton, J. S., Thornton, J. & Adedji, O., 1 Meh 2007, Yn: Journal of African Economies. 16, 3, t. 393-405
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe relationship between inflation and inflation uncertainty in emerging market economies.
  Thornton, J. S. & Thornton, J., 1 Ebr 2007, Yn: Southern Economic Journal. 73, 4, t. 858-870
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
• CyhoeddwydThe revenue-expenditure nexus: historical evidence for South Africa.
  Thornton, J. S., Thornton, J. & Lusinyan, L., 1 Medi 2007, Yn: South African Journal of Economics. 75, 3, t. 496-507
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

1994

• CyhoeddwydCompetitive conditions in european banking
  Molyneux, P., Lloyd-Williams, D. M. & Thornton, J., Mai 1994, Yn: Journal of Banking and Finance. 18, 3, t. 445-459
  Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid