From regulation to reform: Sithong Chanthasouk’s PhD journey

For almost twenty years, Sithong Chanthasouk worked at the centre of Laos’ financial system. At the Bank of the Lao PDR, his role focused on developing regulatory frameworks to help keep commercial banks safe and stable. It was work shaped by responsibility and long experience, and by a strong commitment to protecting the country’s financial system.

Over time, Sithong began to reflect more deeply on his work. While regulation helped maintain stability, he wanted to better understand how it could be made more effective in practice. These questions, drawn directly from his professional experience, led him to begin a PhD.

“After many years as a regulator, I realised that maintaining stability wasn’t enough. I wanted to understand how regulation could be improved and adapted to better support the banking system,” he said.

Sithong chose to study at the School of Regulation and Global Governance (RegNet) at The Australian National University, attracted by its strong reputation and applied focus. Supervised by Professor Veronica Taylor, he explored whether “smart regulation” — a form of regulatory pluralism — could serve as a catalyst for more effective bank oversight in Laos. As someone working within the regulatory system, the research allowed him to step back and examine his own field with fresh perspective.

Not long after he started his PhD, the COVID-19 pandemic changed the way research and learning took place. Like many others, Sithong had to adapt to lockdowns and virtual learning, which made the normally social experience of a PhD feel more isolated and digital. While this made the journey more challenging at times, it also gave him the space to focus deeply on his research.

He found immense joy in engaging with different theories of governance and research methods, and in comparing these ideas with real-world situations he had encountered throughout his career. This process helped him connect academic thinking with practical experience in new and meaningful ways.

Completing his PhD in Regulation and Governance has been a transformative experience, providing him with the academic and technical authority to advise on the design of national strategies, laws and policy frameworks.

Looking ahead, Sithong hopes to use his knowledge to teach and mentor others, helping to build a stronger banking sector in Laos through effective regulation.

Reflecting on his journey, Sithong shares this advice for future PhD candidates:

The PhD journey is long, but deeply worthwhile. It helps you grow personally, intellectually and professionally. If you want a degree that challenges how you think about governance, I strongly recommend RegNet. It is home to some of the finest researchers and faculty in the world.