Research Network on Public Authorities and Financial Distress (RPAFD), established in September 2023, is a multi-disciplinary, multi-sectorial network of more than 60 academics, practitioners, lawyers, economists, accountants, and experts from other disciplines with a common interest on local authorities in financial distress.
Dr Eugenio Vaccari
Award: ECR Public Engagement Bursary
Project lead: Dr Eugenio Vaccari
Department: Law and Criminology
Context and Underpinning Research
Local entities are increasingly experiencing financial distress. However, in most countries the practice of rescuing them is largely unregulated. Together with other leading law, economics and accounting professors, project lead Eugenio set up the Research Network on Public Authorities and Financial Distress (RPAFD). RPAFD’s multidisciplinary and global focus is designed to promote policies that prioritise the protection of vulnerable citizens, the long-term sustainability of local entities and their ability to adapt to climate change.
Project Overview
The Research Network on Public Authorities and Financial Distress (RPAFD), established in September 2023, is a multi-disciplinary, multi-sectorial network of more than 60 academics, practitioners, lawyers, economists, accountants, and experts from other disciplines with a common interest on local authorities in financial distress.
RPAFD promotes comparative and iterative research based on concrete case studies. Its goal is to suggest policy recommendations to alleviate the consequences of financial distress for local communities. RPAFD’s commitment is to design a model insolvency and restructuring framework capable of ensuring that public money is spent for the benefit of vulnerable stakeholders at a local level and to promote sustainable development (including mitigating climate change). As part of the RPAFD project, the team produced several key outputs to enhance visibility and engagement with a broader audience. This was achieved by developing a distinct visual identity for the network, including a professional logo and banner, which are now featured across all platforms (X, YouTube and LinkedIn). These graphics not only help establish brand recognition but also reinforce RPAFD’s commitment to the mission of addressing financial distress in local entities.
Outcomes and Impact
The RPAFD project has achieved several important outcomes, significantly expanding its reach and impact. The launch of a dedicated website has increased the project’s visibility and accessibility, serving as a central repository for research on local entities in financial distress. The primary impact of the RPAFD project so far has been in fostering knowledge exchange and laying the groundwork for future, more tangible outcomes. Virtual seminars and the newly launched website have facilitated connections between academics, public servants, and policymakers, increasing awareness of the challenges local entities in financial distress face. By providing a platform for sharing best practices and lessons learned, the project has begun to influence discussions on restructuring local entities with a focus on sustainability and citizen protection.
The Role of SSIA Funding
The SSIA funded the development of different variants of the group's logo, for use on social media platforms and Zoom calls, as well as the creation of a website for the group.
Next steps:
Eugenio’s plans to develop further work include:
Continuing to produce up-to-date executive summaries and reports based on the findings and outputs of RPAFD. These documents will serve as valuable resources for stakeholders, ensuring that the knowledge generated is easily accessible and actionable.
Deepen collaboration with the Insolvency Law Academy and INSOL International, focusing on research related to municipalities in financial distress. These partnerships will aim to produce joint publications and foster interdisciplinary research initiatives that address the unique challenges faced by local entities.
Seek out and develop further funding applications that build on the groundwork laid by RPAFD. This includes pursuing interdisciplinary projects that enhance the financial sustainability of local entities and improve accounting standards.
Create an account on OVERTON to monitor citations and engagement related to this work, helping to gauge its influence and guide future research directions.
If you are interested in engaging in this work, please contact Eugenio at Eugenio.Vaccari@rhul.ac.uk
