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The Importance of Scholarly Research in Business, Economics, and Finance

Rachel Sangster, Publisher Economics & Global Head of Economics & Finance

As the commissioning publisher at Palgrave for scholarly Economics this is, to my mind, a straightforward question to answer: progress. Publishing academic research under a peer-reviewed system (such as the Palgrave book programme) validates the work, offers an opportunity to improve the work by alerting the author to mistakes or shortcomings, and makes the research available to a significantly wider audience than that of the original research group or author's colleagues. Sharing new knowledge is important in order for individuals, firms, governments, countries – society – to advance.

Published research therefore adds to the scholarly record, and contributes to the academic debate – it forms part of an ongoing conversation in the field. By following trends and referring to previously published work, economists can predict responses to market changes, and explore these changes via new data models and analysis.

In Economics it is particularly important that research is continually evolving and widely disseminated. In an increasingly connected world that is always changing, scholars depend on building upon existing knowledge and results. Economics is about making choices, improving efficiency, advising on policies and, avoiding problems that affect the economy and the world at large. It is not just scholars who utilize the research, but practitioners and policymakers in the wider community, for example at research institutes, governmental organisations, business, industry and education.

Economists may often disagree, but they provide a framework for understanding and making sense of an otherwise complex environment. Ultimately, economists are all seeking the same goal. That is: to share resources more fairly and efficiently; to maintain and improve productivity and income; and, enable a happier and healthier society. Publishing research and promoting the exchange of ideas is to advance knowledge and understanding.

Rachel can be contacted at rachel.sangster@palgrave.com.