UNSW Business School Professor Peter Swan AO FRSN FASSA was unanimously elected as a Fellow of the Royal Society of New South Wales (FRSN) in March 2018.
His latest award comes from the oldest learned society in the Southern Hemisphere, established in Sydney in 1821 to advance knowledge through the encouragement of studies and investigations in science, art, literature and philosophy.
Professor Leisa Sargent, Senior Deputy Dean of UNSW Business School, said: "We are delighted to hear that Professor Peter Swan has been recognised by the Royal Society of New South Wales for his substantial contribution to economics, banking and finance."
"This is a prestigious honour from a society with many distinguished members, he should be rightly proud to have been elected. I congratulate Professor Swan on behalf of UNSW Business School."
He currently has 3,042 cites in Google Scholar and 603 cites (37 articles) in Web of Science, making him highly cited.
He is ranked in the top 2% globally for journal pages in economics and finance weighted by impact factors. RePEc IDEAS
According to Mark Blaug's Who's Who in Economics: A Biographical Dictionary of Major Economists, 2nd ed., 3rd ed., 1999, he is in the top ten most highly cited economics and finance academics in Australia.
His thesis on the Australian automotive industry documenting the harmful effects of protectionism has finally seen fruition in the departure of the automobile manufacturing industry from Australia.
The Campbell Committee of Inquiry into the Financial System commissioned him to undertake a large number of studies and his proposal to largely eliminate double taxation of dividends was adopted in the 1987 Budget, taking the form of the present system of franking credits.
Recently, he has shown that these franking credits are close to fully priced, yielding a far lower cost of capital for firms paying franked dividends relative to firms not qualifying for franking credits since they reflect overseas earnings. Most likely, this lowering of the cost of capital to firms investing locally is due to foreign investors reaping capital gains by harvesting franking credits - sell 47 days prior to the ex-dividend day and then repurchase.