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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
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 a University Carolina Distinguished Professor, co-director of the Center for Financial Institutions at the Darla Moore School of Business, and former Ph.D. coordinator of the Finance Department, 2016-2021.

Outside the University, Professor Berger is 2022 president and conference program chair of the Financial Intermediation Research Society (FIRS), a global research organization, senior fellow at the Wharton Financial Institutions Center, and fellow of the European Banking Center, among other affiliations. He sits on the editorial boards of eight research journals, is co-editor of eight special issues of four different research journals, co-organizer of numerous research conferences, and advisor for Ph.D. students in multiple departments at the University of South Carolina and other universities around the world, and was Journal of Money, Credit, and Banking editor from 1994-2001.

He has 127 publications in refereed research journals, including every year but one from 1987 to 2022. These include contributions to 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 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 co-editor of all three editions of the Oxford Handbook of Banking, 2010, 2015, and 2019, and has many other research publications, such as book chapters and conference proceedings.

Professor Berger ranks fifth in the world on list of Top Economics and Finance Scientists with an H-Index of 136 as of December 6th, 2021. He has over 92,000 Google Scholar citations, including 30 articles with over 1,000 citations each, and another 19 exceeding 500 each. He has given keynote addresses on five continents, and has been 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 has won numerous best paper awards from research journals and conferences.

He was secretary/treasurer, Financial Intermediation Research Society (FIRS) from 2008-2016; and senior economist or economist from 1982-2008 at the Federal Reserve Board of Governors. 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.

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.


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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