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Prof. Bruce Rasmusssen
Director
Phone number:
(03) 9919 1342
Email address:
bruce.rasmussen@vu.edu.au

Qualifications
BEc (Hons)(La Trobe), MEc (La Trobe), MPA (Harvard), PhD (Vict Univ)

Professor Rasmussen is Director of VISES having joined in 1998. His work has focussed on innovation, business models, business strategy and industry development issues. He was recently engaged by the Victorian Government on a project relating to innovation. He has also been responsible for the drafting of a series of industry briefing papers for the University relating to course clusters. He is the University’s representative on a number of oversight committees for the CDM-Net project. He was also been heavily involved in the Centre’s Pharmaceutical Industry Project funded by the Merck Company Foundation and others. He has completed a monograph on the biopharmaceutical sector and a number of papers on the role of pharmaceutical alliances and the implications of business strategies for pharmaceutical industry development in Australia.

He joined CSES with a brief to strengthen and develop its businesses, to improve the financial viability of its research programs and to strengthen the Centre’s research capability in terms of commercial, business and financial analysis. Initially he focussed on strategic issues affecting the Centre itself and the development of TradeData, an Internet based trade information business operated by the Centre.

Prof. Rasmussen has had a career spanning the senior levels of both the public and private sectors. He was Deputy Director of CSES until 2011. In Government he has held a number of senior positions, most significantly as Assistant Director General, Finance in the Department of Management and Budget of the State of Victoria. The position was one of five or six that reported to the Director- General (head) of the Department. A major focus of the position was to improve the management of the Government’s financial assets and liabilities. This entailed the development of policies that were central to the State’s financial strategies. During this period he become a board member of a number of government bodies including Deputy Chairman, VicFin, the government’s international borrowing arm and the National Mortgage Market Corporation. He also played a major role in a wide range of official publications, including budget papers, strategy documents and industry and financial analyses.

He spent seven years at the ANZ Bank, one of Australia’s big four banks and a company with substantial activities in Europe and Asia. In the ANZ he held various senior business strategy roles, most notably as Chief Manager, Retail Strategy in the Retail Bank and Chief Manager, Development of the Private Bank. In these and other roles he was intimately involved in the development of the Bank’s strategic response to the massive technological and organisational changes which took place in banking through the 1990s. He was also responsible for a wide range of business and industry analyses and strategic planning reports.

In 2008 Prof. Rasmussen completed a health study on The Creation and Capture of Value in Biopharmaceuticals which is being published as a book by Edward Elgar (2009).

He holds a Master of Public Administration (MPA) from the Kennedy School of Government at Harvard University, and a Master of Economics and a Bachelor of Economics (Hons) both from La Trobe University (Melbourne). At Harvard he graduated as a Littauer Fellow – awarded on the basis of academic excellence, career and leadership. He completed a PhD at Victoria University in 2008.

Publications

Book

Rasmussen, B. 2010, Innovation and Commercialisation in the Biopharmaceutical Sector: Creating and Capturing Value, Edward Elgar, London.

Journal articles

Sheehan, P., Sweeny, K., Rasmussen, R., Wils, A., Friedman, H.S., Mahon, J., Patton, G.C., Sawyer, S.M., Howard, E., Symons, J., Stenberg, K., Chalasani, S., Maharaj, N., Reavley, N., Shi, H., Fridman, M., Welsh, A., Nsofor, E. and Laski, L. forthcoming 2017, ‘Building the foundations for sustainable development: A case for global investment in the capabilities of adolescents’, The Lancet, online 19 April 2017, DOI: http://dx.doi.org/10.1016/S0140-6736(17)30872-3

Chisholm, D., Sweeny, K., Sheehan, P., Rasmussen, B., Smit, F., Cuijpers, P. and Saxena, S. 2016, ‘Scaling-up treatment of depression and anxiety: A global return on investment analysis’, Lancet Psychiatry, vol. 3, no. 5, pp. 415-424, http://dx.doi.org/10.1016/S2215-0366(16)30024-4

Grewal, B., Cheng, E. and Rasmussen, B. 2015, ‘Local government debt in China: Implications for Reform’, Public Finance and Management, vol. 15, no. 4, pp. 358-377. ISSN 1523-9721. http://www.spaef.com/article/1622/Local-Government-Debt-in-China-

Stenberg, K., Axelson, H., Sheehan, P., Anderson, I., Gülmezoglu, A.M., Temmerman, M., Mason, E., Friedman, H.S., Bhutta, Z.A., Lawn, J.E., Sweeny, K., Tulloch, J., Hansen, P., Chopra, M., Gupta, A., Vogel, J.P., Ostergren, M., Rasmussen, B., Levin, C., Boyle, C., Kuruvilla, S., Koblinsky, M., Walker, N., de Francisco, A., Novcic, N., Presern, C., Jamison, D. and Bustreo, F. on behalf of the Study Group for the Global Investment Framework for Women’s Children’s Health 2013, ‘Advancing social and economic development by investing in women's and children's health: A new global investment framework’, The Lancet, vol. 383, no. 9925, pp. 1333-1354, doi:10.1016/S0140-6736(13)62231-X.

Grewal, B., Rasmussen, B. and Sheehan, P. 2009, ‘Governments, corporations and the financial crisis: Is this the end of private banks?’, Harvard International Review, March, online at: http://hir.harvard.edu/index.php?page=article&id=1853&p=2

Rasmussen, B. 2007, ‘Is the commercialisation of nanotechnology different? A case study approach’, Innovation: Management, Policy and Practice, vol. 9, no. 1.

Book chapters

Rasmussen, B. 2006, ‘Innovation and industry structure in the biomedical industry: Role of alliances’, in B. Grewal and M. Kumnick (eds), Engaging the New World: Responses to the Knowledge Economy, Melbourne University Press, Melbourne.

Research reports

Rasmussen, B., Sweeny, K. and Sheehan, P. 2016, Health and the Economy: The Impact of Wellness on Workforce Productivity in Global Markets, Report to the U.S. Chamber of Commerce’s Global Initiative on Health and Economy, Washington, DC, April, 28 pp. Also at https://www.uschamber.com/report/health-and-the-economy-the-impact-wellness-workforce-productivity-global-markets-0

Rasmussen, B., Sweeny, K. and Sheehan, P. 2016, Economic Costs of Absenteeism, Presenteeism and Early Retirement Due to Ill Health: A Focus on Indonesia, Report to the U.S. Chamber of Commerce’s Global Initiative on Health and Economy, VISES, Victoria University, Melbourne, September, 13 pp.

Rasmussen, B., Pensabene, T., Pyke, J., Maharaj, N. and Welsh, A. 2016, The Economic Benefits of Cultural Diversity, Report to Office of Multicultural Affairs, Department of Premier and Cabinet, Victoria, VISES, Victoria University, Melbourne.

Parker, S., Rasmussen, B. and Maharaj, N. 2016, Modelling the Economic Impact of Diversity for Victoria: Preliminary Results, Report to Office of Multicultural Affairs, Department of Premier and Cabinet, Melbourne, June.

Rasmussen, B., Sweeny, K. and Sheehan, P. 2015, Cost of Early Retirement Due to Ill Health, Report to the APEC Business Advisory Council and US Chamber of Commerce, VISES, Victoria University, Melbourne, July.

Rasmussen, B., Sweeny, K. and Sheehan, P. 2015, Cost of Early Retirement Due to Ill Health: Phase II Countries, Report to the APEC Business Advisory Council and US Chamber of Commerce, VISES, Victoria University, Melbourne, October.

Rasmussen, B., Sweeny, K. and Sheehan, P. 2015, Economic Costs of Absenteeism, Presenteeism and Early Retirement Due to Ill Health: A Focus on Brazil, Report to the Brazil-U.S. Business Council, the US Chamber of Commerce and the APEC Business Advisory Council, VISES, Victoria University, Melbourne, July.

Sheehan, P., Rasmussen, B. and Sweeny, K. 2014, The Impact of Health on Worker Attendance and Productivity in the APEC Region, Final Report to the APEC Business Advisory Council, VISES, Melbourne, July, 45 pp.

Rasmussen, B., Hurley, K. and Sheehan, P. 2014, Notes on the Wantirna Health Cluster, Report to Hassell Ltd, VISES, Melbourne, July, 13 pp.

Rasmussen, B., Lang, J., Welsh, A. and Maharaj, N. 2013, A Quantitative Analysis of Victoria’s Key Exporters and Export Competitors, Report to Victorian Department of State Development, Business and Innovation, CSES, Victoria University, Melbourne, November.

Stenberg, K., Axelson, H., Sheehan, P., Anderson, I., Gülmezoglu, A.M., Temmerman, M., Mason, E., Friedman, H.S., Bhutta, Z.A., Lawn, J.E., Sweeny, K., Tulloch, J., Hansen, P., Chopra, M., Gupta, A., Vogel, J.P., Ostergren, M., Rasmussen, B., Levin, C., Boyle, C., Kuruvilla, S., Koblinsky, M., Walker, N., de Francisco, A., Novcic, N., Presern, C., Jamison, D. and Bustreo, F. 2013, The Economic Benefits of Investing in Women’s and Children’s Health, PMNCH Knowledge Summary 24, The Partnership for Maternal, Newborn and Child Health, World Health Organization, Geneva. Also at http://www.who.int/pmnch/knowledge/publications/summaries/ks24/en/

Rasmussen, B., Welsh, A. and Hurley, K. 2013, Projecting Demand for BCL Chambers, Report to BCL, CSES, Victoria University, Melbourne, 14 May.

Sheehan, P., Sweeny, K., Rasmussen, B. and World Health Organization (WHO) 2012, Investing in Maternal, Newborn and Child Health: Analysis of the Costs, Benefits and Returns, Report on Study Prepared for the LSIF APEC High-Level Meeting on Health and the Economy, St Petersburg, 27 June 2012.

Rasmussen, B. and Hurley, K. 2012, Changing Location of Business Establishments in Victoria, Report to Department of Business Innovation (Victoria), Melbourne, September.

Rasmussen, B., English, A., Houghton, J., Lang, J., Maharaj, N., Sweeny, K., Min Jiang, Filep, S. and Rasmussen, A. 2012, Chinese Export Opportunities for Victorian Companies, Final Report to Department of Business Innovation and Innovation (Victoria), Melbourne, February.

Rasmussen, B., Hurley, K. and Maharaj, N. 2011, Regional and Sectoral Dimensions of Victorian Manufacturing, Report for Project: A More Competitive Manufacturing Industry, Department of Business and Innovation (Victoria), Melbourne, July.

Rasmussen, B. 2011, Nanotech for Sustainable Energy Options, Report for DIISR, CSES, Melbourne.

Houghton, J., Rasmussen, R. and Sheehan, P. 2010, Economic and Social Returns on Investment in Open Archiving Publicly Funded Research Outputs, Report to Scholarly Publishing and Academic Resources Coalition (SPARC), CSES, Victoria University, Melbourne, July.

Sweeny K. and Rasmussen B. 2010, CDM-Net Project Final Report, Section 7, Precedence Healthcare, January.

Rasmussen, B., Sheehan, P., Maharaj, N., Van Hulten, A., Weller, S. and Hurley, K. 2010, Updating Melbourne’s West, Report to Vice Chancellor, Victoria University, CSES, Melbourne.

Rasmussen, B. and Sheehan, P. 2009, Potential Victorian Government Innovation Policy: Reponses in the Context of the GFC, Report to DIIRD, CSES, Victoria University, Melbourne, August.

Sweeny, K. and Rasmussen, B. 2009, An Economic Analysis of Expected Benefits from the CRC Bid’s Research Program, CSES, January.

Rasmussen, B. and Maharaj, N. 2009, Management and Marketing Cluster, CCC Briefing Paper, Report to Victoria University Cluster Study Project, CSES, Victoria University, Melbourne, May.

Rasmussen, B., Sweeny, K. and Maharaj, N. 2009, Health Cluster, Making VU Cluster Coordination Committee Input Report, CSES, April.

Rasmussen, B. and Maharaj, N. 2009, Financial and Economic Services Cluster, CCC Briefing Paper, Report to Victoria University Cluster Study Project, CSES, Victoria University, Melbourne, April.

Sweeny, K. and Rasmussen, B. 2009, An Economic Analysis of Expected Benefits from the CRC Bid’s Research Program, CSES, January.

Houghton, J., Rasmussen, B. and Sheehan, S.; with Oppenheim, C., Morris, A., Creaser, C., Greenwood, H., Summers, M. and Gourlay, A. 2009, Economic Implications of Alternative Scholarly Publishing Models: Exploring the Costs and Benefits, JISC EI-ASPM Project, Report to the Joint Information Systems Committee (JISC) (UK), CSES and Loughborough University, January.

Sheehan, P., Rasmussen, B., Sweeny, K., Grewal, B., Ahmed, A. and Maharaj, N. 2008, Investing in the Future: An Assessment of the Returns to Investment in Health Innovation, Framework Paper prepared for the Life Science and Innovation Forum (LSIF) VI, Lima, Peru, 14-15 August.

Sheehan, P., Rasmussen, B., Jolley, A., Symons, J. and Parker, S. 2008, Transforming Rail: A Key Element in Australia’s Low Pollution Future, Final Report to the CRC Rail Innovation, Brisbane.

Rasmussen, B. and Maharaj, N. 2008, Health Cluster, CCC Briefing Paper, Report to Victoria University Cluster Study Project, April, CSES, Victoria University, Melbourne.

Rasmussen, B. and Maharaj, N. 2008, ICT Cluster, CCC Briefing Paper, Report to Victoria University Cluster Study Project, May, CSES, Victoria University, Melbourne.

Rasmussen, R. and Maharaj, N. 2008, Engineering and Infrastructure Cluster, CCC Briefing Paper, Report to Victoria University Cluster Study Project, May, CSES, Victoria University, Melbourne.

Rasmussen , B. and Maharaj, N. 2008, Human Services, CCC Briefing Paper, Report to Victoria University Cluster Study Project, July, CSES, Victoria University, Melbourne.

Rasmussen, R. and Maharaj, N. 2008, Legal Studies and Law, CCC Briefing Paper, Report to Victoria University Cluster Study Project, August, CSES, Victoria University, Melbourne.

Rasmussen, B. and Maharaj, N. 2008, Culture and Creative Industries, CCC Briefing Paper, Report to Victoria University Cluster Study Project, September, CSES, Victoria University, Melbourne.

Rasmussen, B. and Maharaj, N. 2007, Financial and Economic Services Cluster, CCC Briefing Paper, Report to Victoria University Cluster Study Project, December, CSES, Victoria University, Melbourne.

Rasmussen, B. and Maharaj, N. 2007, Transport and Logistics Cluster, CCC Briefing Paper, Report to Victoria University Cluster Study Project, October, CSES, Victoria University, Melbourne.

Rasmussen, B. and Maharaj, N. 2007, Education and Transition, CCC Briefing Paper, Report to Victoria University Cluster Study Project, September, CSES, Victoria University, Melbourne.

Rasmussen, B. and Maharaj, N. 2007, Sports and Physical Recreation, CCC Briefing Paper, Report to Victoria University Cluster Study Project, August, CSES, Victoria University, Melbourne.

Rasmussen, B. and Maharaj, N. 2007, Trends in the Tourism and Hospitality Industry, CCC Briefing Paper, Report to Victoria University Cluster Study Project, July, CSES, Victoria University, Melbourne.

Sheehan, P., Rasmussen, B. and Sweeny, K. 2007, ‘Developing an Integrated Approach to Emerging Health Challenges’, Framework Paper prepared for the APEC Life Science Innovation Forum V, Adelaide, 19-20 April.

Sheehan, P., Rasmussen, B. and Sweeny, K. 2006, ‘Sustainable Health Care Systems to Support Innovation’, paper commissioned to be presented at the Fourth Annual APEC Life Science Innovation Forum (LISF), Hoi An, Vietnam, 6-7 September.

Rasmussen, B. 2005, An Economic Evaluation of the Impact of the HSW Initiative, Report to Victorian Department of Innovation, Industry and Regional Development, CSES, Victoria University, Melbourne, May.