Bank of Lithuania

Awards for scientific activities

The Bank of Lithuania grants two awards for scientific activities: the Vladas Jurgutis Award (EUR 10 thousand) and the Bank of Lithuania Award for Dissertation in the Field of Economics (EUR 5 thousand). Regulations on the Granting of the Bank of Lithuania Awards for Scientific Activities (92.7 KB download icon)

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Vladas Jurgutis Award

The Vladas Jurgutis Award pays tribute to Prof Vladas Jurgutis, the first Governor of the Bank of Lithuania, and his merits to banking in Lithuania. The Award is granted for significant scientific research works of Lithuanian economists or foreign economists linked with Lithuanian education institutions carried out within the last five years – published scientific papers, monographs or books. Priority is given to the following subjects: activities of the central bank, monetary policy, macroprudential policy, payments and settlements, investment and other subjects related to the activities of the Bank of Lithuania.


Bank of Lithuania Award for Dissertation in the Field of Economics

The Award is granted to honour the authors of the best dissertations in economics or related fields, defended over the last two years until August 1 of the current year. Priority is given to the following subjects: activities of the central bank, monetary policy, macroprudential policy, payments and settlements, investment, etc.


History

The Bank of Lithuania granted the first award for significant and relevant research work on banking in 1990. It was given to Vladas Terleckas for his monograph Pinigai Lietuvoje 1915–1944 (Money in Lithuania 1915–1944).

The Vladas Jurgutis Award, established in 1997, was granted to the following researchers:

  • 2022: Alminas Žaldokas, Abhiroop Mukherjee and Manpreet Singh for collective work “Do corporate taxes hinder innovation?” and Vytautas Valaitis for a dissertation in the field of economics “Housing Illiquidity, Asset Prices and the Amplification of Macroeconomic Shocks; Wealth and Hours; and Machine Learning Projection Method for Macro-Finance Models”
  • 2021: Audinga Baltrūnaitė for her work “Political Contributions and Public Procurement: Evidence from Lithuania” and Karolis Liaudinskas for a dissertation in the field of economics “Essays in Financial Intermediation”
  • 2020: Jesus Crespo Cuaresma, Gernot Doppelhofer, Martin Feldkircher and Florian Huber for collective work “Spillovers from US monetary policy: evidence from a time varying parameter global vectorautoregressive model” and Renata Rabovič for a dissertation in the field of economics “Essays in Economics of Education and Econometric Theory”
  • 2019: Matthias Gerhard Weber and Arthur Schram for collective work “The non-equivalence of labour market taxes: a real-effort experiment” and Ada Kovaliukaitė for a dissertation in the field of economics “The role of strategic beliefs in understanding strategic, pro-social and socially complementary behaviour”
  • 2018: Agnė Kajackaitė, Uri Gneezis and Joel Sobel for collective work “Lying Aversion and the Size of the Lie” and Artūras Juodis for a dissertation in the field of economics “Essays in panel data modelling”
  • 2016: scholarships were awarded to Aida Barkauskaitė, a doctoral student at the Department of Finance, Faculty of Economics and Business of Kaunas University of Technology, and Tamara Mariničevaitė, a doctoral student of management at the ISM University of Management and Economics
  • 2015: Gediminas Vaskela for his monograph “National Aspects in Lithuania’s Economic Policy, 1919–1940”; scholarships were awarded to Viktorija Rabikauskaitė, a master's student of finance at the Faculty of Economics of Vilnius University, and Eglė Aleknevičiūtė, a master's student of finance and banking at the Faculty of Economics and Management of Vytautas Magnus University
  • 2014: scholarships were awarded to Rūta Zinkevičiūtė, a master's student of finance and banking at the Faculty of Economics and Management of Vytautas Magnus University, and Raminta Benetytė, a master's student of finance at the Faculty of Economics and Business of Kaunas University of Technology
  • 2013: scholarships were awarded to Vaida Kairytė, a bachelor’s student of finance and accounting at the ISM University of Management and Economics, and Gediminas Starta, a master's student of finance at the Faculty of Economics and Management of Kaunas University of Technology
  • 2012: Vladas Terleckas for his monograph “Banking in Lithuania 1795–1915”; scholarships were awarded to Rūta Zinkevičiūtė, a master's student of finance and banking at the Faculty of Economics and Management of Vytautas Magnus University, and Raminta Benetytė, a master's student of finance at the Faculty of Economics and Business of Kaunas University of Technology
  • 2011: scholarships were awarded to Indrė Petraitytė, a master‘s student of finance at the Faculty of Economics of Vilnius University, and Simona Latakaitė, a master‘s student of finance and banking at the Faculty of Economics and Management of Vytautas Magnus University
  • 2010: historian Dr habilitatus Antanas Tyla for his monograph “The Treasury of the Grand Duchy of Lithuania During the Twenty-Year War of 1648–1667” and economist Dr Vytautas Valvonis for his work carried out over the last five years in the field of banking, particularly credit risk management, as well as for the practical benefits in improving risk management in banks and enhancing the soundness of banking operations
  • 2008: Arūnas Dulkys, Juozas Galkus and Stanislovas Sajauskas for their work “Lithuanian Coins” scholarships were awarded to Kristina Mikalauskaitė, a student of banking at the Faculty of Economics of Vilnius University, and Jurata Žukovska, a master's student of finance and banking at the Faculty of Economics and Management of Vytautas Magnus University
  • 1999: Vladas Terleckas for his books and articles on the history of Lithuanian banking published from 1995 to 1999
  • 1998: Stasys Sajauskas and Dominykas Kaubrys for their work “Numismatics of the Grand Duchy of Lithuania”
  • 1997: Prof Alfonsas Žilėnas for influential work in the fields of banking and finance

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In April 2017, the Board of the Bank of Lithuania amended the Provisions on Granting the Vladas Jurgutis Award and established the new Award for Dissertation in the Field of Economics.

Scholarship for Vilnius University students

The Bank of Lithuania has established the Bank of Lithuania scholarship to be awarded to the most advanced students of the Quantitative Economics programme at Vilnius University and those applying for the programme. The scholarship aims to increase the visibility of the Bank of Lithuania as a centre of excellence and its attractiveness as an advanced employer requiring analytical skills, to encourage the most talented Lithuanian pupils to choose Quantitative Economics at Vilnius University instead of similar profile bachelor programmes at foreign universities; train analysts meeting the standards of the leading universities who will contribute to a qualitative change in the economy, finance, data analysis and forecasting in Lithuania as well as to train future specialists for the Bank of Lithuania. Find the Regulations for the Award of the Bank of Lithuania Scholarship here (98.2 KB download icon).

The scholarship amounts to five minimum monthly wages (MMW) set by the Government. Three Bank of Lithuania scholarships are awarded at the beginning of each academic year: one for a student in each year of the Quantitative Economics programme at Vilnius University, i.e. for first, second and third-year students.

The scholarship is awarded twice a year: the amount equal to 2.5 MMW is granted by 15 October of the current year and the amount making 2.5 MMW – by 15 February of the current year. 

Documents that students need to submit to apply for a scholarship:

  • A free-form scholarship application form
  • Certificate of academic record from the university (to be submitted by second and third year students)
  • Copy of the attestation (to be submitted by applicants)
  • Free-form motivation letter
  • Written recommendation from a nominated mentor (valid for second and third year students, not required for applicants).

Applications for the scholarship must be submitted no later than 15 September (inclusive). Please send all documents required for the scholarship to [email protected], with 'For the scholarship' in the subject line.

Last update: 30-08-2022