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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; and also encompassed health economics, regional economics, and economic development. His most recent work has been on estimating the economic returns to investment in health, for WHO and UNFPA, APEC Life Sciences Innovation Forum (LSIF) and the APEC Business Advisory Council.

He led work on the recent UNFPA adolescent project on evaluating interventions to reduce child marriage and intimate partner violence. Other multi-country evaluation studies have estimated the benefit-cost ratios for interventions to treat disease and health conditions for children and mothers, those with mental health issues and for a range of interventions to improve the well-being of adolescents. In addition to his joint authorship of a paper published in The Lancet (Sheehan et al. 2017), he has an article Journal of Adolescent Health (2019) on evaluating interventions to reduce child marriage.

He has also conducted research for the United States Chamber of Commerce on health and productivity. This work has estimated the economic cost of absenteeism, presenteeism and early retirement for about 18 countries as part of its Global Health Initiative. Currently the research is being conducted for China.

He 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 was elected Co-Chair (Academic) of the APEC Life Sciences Innovation Forum in August 2017, where he leads the work on persuading Ministers and Ministries of Finance in the APEC region to more actively engage in developing innovative ways of financing health.

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.
 

Publications

Book

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

Book chapters

Rasmussen, B., Symons, J. and Maharaj, M. and Madonia, K. 2020, ‘Promised, given, traded, sold’, in UNFPA, State of the World Population: Against My Will, New York, pp. 94-113.

Rasmussen, B., Symons, J. and Maharaj, N. 2020, ‘Cost of ending child marriage’, in Johns Hopkins University, Avenir Health, Victoria University, Institute of Health, Metrics and Evaluation and UNFPA, Costing the Three Transformative Results, UNFPA, New York, chap. 4.

Journal articles

Rasmussen, B., Maharaj, N., Sheehan, P. and Friedman, H. 2019, 'Evaluating the employment benefits of education and targeted interventions to reduce child marriage’, Journal of Adolescent Health, vol. 65, no. 1, pp. S16-S24.

Young, C., Jones, R., Maharaj, N. and Rasmussen, B. 2019, 'Transforming through diversity and inclusion capability: The pathway to achieving diversity benefits', Australian Journal of Emergency Management, Monograph No. 5, pp. 35-44.

Patton, G.C., Olsson, C.A., Skirbekk, V., Saffery, R., Wlodek, M.E., Azzopardi, P. S., Stonawski, M., Rasmussen, B., Spry, E., Francis, K., Bhutta, Z.A., Kassebaum, N.J., Mokdad, A.H., Murray, C.J.L., Prentice, A.M., Reavley, N., Sheehan, P., Sweeny, K., Viner, R.M., Sawyer, S.M., 2018, ‘ Adolescence and the next generation’, Nature, vol. 554, pp. 458-466.

Bertram, M.Y., Sweeny, K., Lauer, J.A., Chisholm, D., Sheehan, P., Rasmussen, B., Upreti, S.R., Dixit, L.P., George, K. and Deane, S. 2018, ‘ Investing in non-communicable diseases: An estimation of the return on investment for prevention and treatment services’, Lancet, vol. 391, no. 10134, pp. 2071–2078.

Sheehan, P., Sweeny, K., Rasmussen, B., 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. 2017, ‘ Building the foundations for sustainable development: A case for global investment in the capabilities of adolescents’, The Lancet, vol. 390, no. 10104, pp. 1792-1806.

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.

Grewal, B., Cheng, E. and Rasmussen, B. 2015, ‘Local government debt in China: Implications for Reform’, Public Finance and Management, vol. 15, no. 4.

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 .

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

Research reports

Rasmussen, B., Sweeny, K., Welsh, A., Kumnick, M., Reeve, M. and Dayal, P. 2020, Increasing Social and Economic Benefits Globally: Rates of Return on Health Investments, US Chamber of Commerce, Washington DC and VISES, Victoria University, Melbourne.

Rasmussen, B. and Maharaj, N. 2020, The Economic Benefits of the Indigenous Fire and Rescue Employment Strategy (IFARES) Program: Fire and Rescue New South Wales. Bushfire and Natural Hazards CRC, Melbourne.

Rasmussen, B., Sheehan, P., Sweeny, K., Symons, J. and Maharah, N. 2019, Adolescent Investment Case Burundi: Estimating the Impacts of Social Sector Investments for Adolescents, VISES Report to UNICEF Burundi, Bujumbura.

Rasmussen, B., Sheehan, P., Sweeny, K., Symons, J. and Maharah, N. 2019, Adolescent Investment Case Burundi: Estimating the Impacts of Social Sector Investments for Adolescents – Summary, VISES Summary Report to UNICEF Burundi, Bujumbura.

Sweeny, K. and Rasmussen, B. 2019, Evaluation of the WorkWell Program: Initial Report, Report to the Victorian Department of Health and Human Services (DHHS), VISES, Victoria University, Melbourne.

Rasmussen, B., Sweeny, K., Maharaj, N. and Welsh, A. 2018, Our Health Our Wealth: The Impact of Ill Health on Retirement Savings in Australia, Report to McKell Institute, VISES, Melbourne, August.

Jones, R., Young, C., Sheehan, P., Rasmussen, B., Fridman, M., Sweeny, K. 2018, Climate Change and Social Determinants of Health and Wellbeing Scoping Study, Final Report to Victorian Department of Health and Human Services, VISES, Melbourne.

Rasmussen, B. and Maharaj, N. 2018, Changing Capabilities of Emergency Service Organisations: Case Study Synthesis, Report to Bushfire and Natural Hazards CRC, VISES, Victoria University, Melbourne.

Young, C., Pyke, J., Maharaj, N., Rasmussen, B. and Jones, R. 2018, Diversity and Inclusion: Building Strength and Capability: Literature Review, Report to Bushfire and Natural Hazards CRC, Melbourne.

Young, C., Pyke, J., Maharaj, N., Cormack, C., Rasmussen, B. and Jones, R. 2018, Diversity and Inclusion: Building Strength and Capability: Research Summary, Report to Bushfire and Natural Hazards CRC, Melbourne.

Sheehan, P., Rasmussen, B. and Sweeny, K. 2015, Building the Foundations of Sustainable Development: A Global Investment Case for Investing in the Capabilities of Adolescents, Report for the UNFPA Project UNFPAUSA/14/037 Investment in Improving Health, Education and other Outcomes for Adolescents, VISES, Victoria University, Melbourne, December.

Sweeny, K., Fridman, M. and Rasmussen, B. 2017, Estimating the value and impact of Nectar Virtual Laboratories, Report to National eResearch Collaboration Tools and Resources (Nectar), VISES, Melbourne, September, 56 pp.

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. See also at USCC.

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.

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.

Sweeny, K., Rasmussen, B. and Sheehan, P. 2015, The Impact of Health on Worker Attendance and Productivity in Twelve Countries, Report to the APEC Business Advisory Council and US Chamber of Commerce, VISES, Victoria University, Melbourne, October, 36 pp.

Symons, J., Jones, R.N., Young, C.K. and Rasmussen, B. 2015, Assessing the Economic Value of Green Infrastructure: Literature Review, Climate Change Working Paper No 23, VISES, Victoria University, Melbourne.

Pensabene, T. and Rasmussen, B. 2015, Economic Impact of City of Maribyrnong Festival Program, Report to City of Maribyrnong, VISES, Victoria University, Melbourne, June.

Rasmussen, B. and Maharaj, N. 2015, Child Marriage, Supporting Paper 5, UNFPA Project UNFPAUSA/14/037 Investment in Improving Health, Education and other Outcomes for Adolescents, VISES, Victoria University, Melbourne, December, 13 pp.

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.

Symons, J., Jones, R.N., Young, C.K. and Rasmussen, B. 2015, Assessing the Economic Value of Green Infrastructure: Literature Review, Climate Change Working Paper No 23, VISES, Victoria University, Melbourne.

Rasmussen, B., Pensabene, T. and Welsh, A. 2014, Review of the Australian Synchrotron: Impact in Terms of Costs and Benefits, Report to CW Department of Industry, VISES, Victoria University, Melbourne.

Rasmussen, B. 2014, Contribution to Senate Economics References Committee: Inquiry into the Australian Innovation System: Submission from Victoria University, VISES, Victoria University, Melbourne.

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 WHO.

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. and Hurley, K. 2012, Business Location in Victoria: A Decade of Change, Industry Report Series to Department of Business and Innovation Victoria, Melbourne and WorkSafe Victoria Authority, Melbourne. Reports undertaken by CSES in series were: Agriculture, Forestry and Fishing; Manufacturing, Retail Trade, Accommodation and Food Services; Rental, Hiring and Real Estate Services; Professional, Scientific and Technical Service; Administrative and Support Services; Education and Training; Health Care and Social Assistance; Arts and Recreation Services; and Other Services.

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, Report to Department of Business Innovation and Innovation (Victoria), Melbourne, February.

Rasmussen, B., Hurley, K. and Welsh, A. 2012, Emerging Trends in Global Services Trade, Report to Department of Business Innovation Victoria, Melbourne, December.

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., Sweeny, K., Lichtenberg, F. and Sheehan, P. 2011, Strains In the Global Biopharmaceutical Innovation System: An International Research Project, Report for Department of Innovation, Industry, Science and Research (DIISR), CSES, Victoria University, Melbourne.

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.

Houghton, J.W., Rasmussen, B., Sheehan, P.J., 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, Report to The Joint Information Systems Committee (JISC), Loughborough University. Available from JISC.

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, Victoria University, Melbourne, 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.

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 Tegart, G. 2007, Contribution to the Victorian Government Nanotechnology Statement, Report Prepared for the Department of Innovation, Industry and Regional Development, 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 presented at the Fourth Annual APEC Life Science Innovation Forum (LISF), Hoi An, Vietnam, 6-7 September.

Sheehan, P., Houghton, J., Rasmussen, B., Sweeny, K. and Tegart, G. 2006, Consistent National Policies for Converging Technologies: Some Preliminary Conclusions, Policy Report of the CSES Project General Purpose Technologies, Complementarities and the Convergence of Industries, ARC Linkage Grant Project LP0349387, November, Centre for Strategic Economic Studies, Victoria University, Melbourne, 31 pp.

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.

Book chapter

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.