International Advisory Board

Montek Ahluwalia

Montek Singh Ahluwalia is Deputy Chairman, Planning Commission, India. An Economics graduate with honours from Delhi, he studied for his Master’s and M. Phil degrees at the Oxford University, where he was a Rhodes Scholar.

He has held numerous prestigious positions both in India and abroad, beginning his career as an Economist with the World Bank, Washington DC in 1968. For the next eleven years he served the World Bank as Deputy Division Chief in the Public Finance Division and as the Chief of the Income Distribution Division in the Development Research Centre respectively.

Returning to India in 1979, he worked as Economic Advisor in the Department of Economic Affairs, Ministry of Finance from 1979 to 1985. The following five years saw him first as Additional Secretary and then as Special Secretary to the Prime Minister. In 1990 he became the Commerce Secretary for a year before assuming charge of Secretary, Department of Economic Affairs in the Ministry of Finance for two years. Thereafter, he served as Finance Secretary until 1998, following which he was appointed as Member, Planning Commission and also as Member, Advisory Council to the Prime Minister.

Before joining as Deputy Chairman, Planning Commission in July 2004, he also served as Director, Independent Evaluation Office, International Monetary Fund, Washington DC for three years.

He has published a number of articles on various aspects of economics, in prominent international journals and books. He co-authored ‘Re-distribution with Growth: An Approach to Policy’, published in 1975, and in 2004 he wrote ‘Reforming the Global Financial Architecture’, Economic Paper No. 41, Commonwealth Secretariat, London.

Hiroto Arakawa

Mr. Hiroto Arakawa was appointed as Senior Special Advisor of JICA (Japan International Cooperation Agency) in October 2008 following distinguished careers at the Japan Bank for International Cooperation (JBIC) and the Overseas Economic Cooperation Fund (OECF). During Mr. Arakawa’s time at these organizations, he worked in a variety of departments charged with handling ODA loan operations, planning and strategy, and research activities. He was appointed as Representative in Manila, Philippines from 1982 to 1985, and New Delhi from 1987 to 1990.

Mr. Arakawa served as Chief Representative of the Washington D.C. Office of OECF from 1995 to 1999, where he oversaw strategic dialogue with the World Bank and IMF. As Director General of JBIC’s Development Assistance Strategy Department from 2003 to 2005, he supervised overall operational strategy for the organization’s ODA portfolio. Later, he initiated various joint research projects with the World Bank and Asian Development Bank, first as Executive Director responsible for development partner collaboration at JBIC from 2005 to 2007, then as Executive Director of the JBIC Institute (JBICI) from 2007 to 2008. Among the collaborative research projects he directed include Connecting East Asia and Climate Impact Adaptation and Mitigation in Asian Coastal Mega Cities. Under his stewardship JBICI also began contributing to various issues of the World Development Report, and its contributions are still incorporated into the companion volumes of each year’s WDR.

In addition to his managerial duties, Mr. Arakawa has been invited on numerous occasions to serve on external high-level committees, including the external evaluation committee of The Program in Economic Policy Management at Columbia University from 1997 to 1999;  currently a member of Global Agenda Council on Poverty and Economic Development, World Economic Forum. Most recently, he was a member of World Bank’s High Level Expert Group for Knowledge Partnership in June 2009.

Mr. Arakawa has likewise chaired various conferences and seminars, many under the auspices of the World Bank. For example, at the World Bank’s conference on budget support in Cape Town, South Africa, in May 2005, Mr. Arakawa presented his paper, “Budget Support and Aid Effectiveness: Experience in East Asia,” which was subsequently incorporated into the World Bank publication Budget Support as More Effective Aid in 2006. In May 2006, he chaired the workshop Urban Infrastructure for Pro-poor Growth in Emerging Asia during the Annual Bank Conference on Development Economics (ABCDE) in Tokyo. At the IMF/World Bank Annual Meetings in Singapore (2006), Mr. Arakawa chaired a session of the Program of Seminars entitled Will Public-Private Partnership (PPP) in Infrastructure Live Up To Their Promise? In April 2007, he presented a paper in Tokyo at the IMF-sponsored seminar Policy Options and Challenges for Developing Asia – Perspectives from the IMF and Asia. Other seminars he has led include Strategies to Climate Proof East Asian Cities (a launch event for the Climate Resilient Cities Primer at the 2008 Annual Meetings).

Mohamed El-Erian

Dr. El-Erian is CEO and co-CIO of PIMCO and is based in the Newport Beach office. He re-joined PIMCO at the end of 2007 after serving for two years as president and CEO of Harvard Management Company, the entity that manages Harvard’s endowment and related accounts. Dr. El-Erian also served as a member of the faculty of Harvard Business School. He first joined PIMCO in 1999 and was a senior member of PIMCO's portfolio management and investment strategy group. Before coming to PIMCO, Dr. El-Erian was a managing director at Salomon Smith Barney/Citigroup in London and before that, he spent 15 years at the International Monetary Fund in Washington, D.C. Dr. El-Erian has published widely on international economic and finance topics. His book, "When Markets Collide," was a New York Times and Wall Street Journal bestseller, won the Financial Times/Goldman Sachs 2008 Business Book of the Year and was named a book of the year by The Economist. Dr. El-Erian has served on several boards and committees, including the U.S. Treasury Borrowing Advisory Committee, the International Center for Research on Women, and the IMF's Committee of Eminent Persons. He is currently a board member of the NBER and the Peterson Institute for International Economics. He holds a master's degree and doctorate in economics from Oxford University and received his undergraduate degree from Cambridge University.

Jan Svejnar

Jan Svejnar is the James T. Shotwell Professor of Global Political Economy and Founding Director of the Center on Global Economic Governance at Columbia University's School of International and Public Affairs.

 In his research, Professor Svejnar focuses on (a) the effects of foreign investment and government policies on firms and workers, (b) corporate, national and global governance and performance, and (c) entrepreneurship. He is the author and editor of a number of books and has published widely in academic, policy and practitioner-oriented journals, including the American Economic Review, Econometrica, Journal of Economic Literature, Journal of Economic Perspectives, Quarterly Journal of Economics, and Review of Economics and Statistics. He works as an advisor to governments, non-profit organizations and firms, and he serves as Chair of the Supervisory Board of CSOB Bank and Co-Editor of Economics of Transition. He is also Fellow of the European Economic Association, and Research Fellow of the Center for Economic Policy Research (London) and Institute for the Study of Labor (IZA, Bonn).

Professor Svejnar previously served as the Founding Director of the International Policy Center at the Gerald R. Ford School of Public Policy at the University of Michigan. He is a founder and Chairman of CERGE-EI in Prague (an American-style Ph.D. program in economics that educates economists for Central-East Europe and the Newly Independent States). From 1996 to 2004, Professor Svejnar was the Executive Director of the William Davidson Institute at the University of Michigan Ross School of Business. From 1992 to 1997, he served as the Founding Director of the Economics Institute of the Academy of Sciences of the Czech Republic. He has served as Co-Director of the Transition Program at the Center for Economic Policy Research (London), President of the Association for Comparative Economic Studies, President of the International Association for the Economics of Labor-Management, Associate Editor of the Journal of Economic Perspectives, and Governing Board member of the European Economic Association.

Prior to joining Columbia University in 2012, Professor Svejnar taught at the University of Michigan, University of Pittsburgh, and Cornell University. He received his B.S. from Cornell University’s School of Industrial and Labor Relations and his M.A. and Ph.D. in Economics from Princeton University.

In 2012, Professor Svejnar was honored with a Neuron Prize for lifelong achievement from the Karel Janeček Endowment for Research and Science. In 2008, Professor Svejnar was one of two candidates for the Presidency of the Czech Republic

Robert Solow

Robert Solow is Professor Emeritus at Massachusetts Institute of Technology. He was awarded the 1987 Nobel Memorial Prize in economics for contributing to what is still the standard method of analyzing the mechanics of economic growth, and for exhibiting the importance of research and technological innovation in improving economic productivity. In 1961, he received the John Bates Clark Award, given to the best economists under age 40. In 2000, he was awarded the National Medal of Science.

Mr. Solow received his B.A., M.A., and Ph.D. from Harvard University. He began teaching economics at the M.I.T in 1949, becoming a full professor there in 1958, and Institute Professor in 1973.

One of Mr. Solow’s main contributions to the advancement of economics came in the late 50s when he showed that about half of the U.S. economic growth until then cannot be accounted for by capital accumulation and labor increases. He attributed this unaccounted-for portion to technological innovation. Solow's studies have had a great impact in governments’ policies to augment funding towards technological research and development to spur economic growth.

Mr. Solow also served on the staff of President John F. Kennedy's Council of Economic Advisors during the 1960s and was president of the American Economic Association in 1979. He published numerous articles in the most salient journals of economics as well as several books. Since 2000, Solow has been a Foundation Fellow at the Russell Sage Foundation where his current focus is a comparative study of low-range work in the U.S. and Europe.

Professor Solow received his B.A. (1947) and Ph.D. from Harvard University.

Benno Ndulu

Benno Ndulu is former Governor, Bank of Tanzania. Prior to this, he served as an Advisor to the Vice President, African Region of the World Bank and as the Manager of Partnerships Group. He is best known for his involvement in setting up one of the most effective research and training networks in Africa, the African Economic Research Consortium.

He served first as its Research director and later as its Executive Director. He received an honorary doctorate from the ISS in the Hague in recognition of his contributions to Capacity Building and Research on Africa in 1997. Following his Ph.D. degree in economics from Northwestern University in Evanston, Illinois, he taught economics and published widely on growth, adjustment, governance and trade.

Michael Spence

A. Michael Spence is Nobel Laureate in Economics (2001) and a professor of economics, Stern School of Business, New York University. He is a senior fellow at the Hoover Institution and the Philip H. Knight Professor Emeritus of Management in the Graduate School of Business at Stanford University.

Professor Spence, whose scholarship focuses on economic policy in emerging markets, the economics of information, and the impact of leadership on economic growth, was chairman of the independent Commission on Growth and Development (2006 - 2010), a global policy group focused on strategies for producing rapid and sustainable economic growth, and reducing poverty. He also serves as a consultant to PIMCO, a senior adviser at Oak Hill Investment Management, and as a member of the board of the Stanford Management Company as well as a number of public and private companies.

A Rhodes Scholar and the recipient of many honors and awards, Professor Spence was awarded the Nobel Memorial Prize in Economic Sciences in 2001 and the John Bates Clark Medal from the American Economics Association in 1981. He is the author of three books and 50 articles, and is a member of the American Economic Association and a fellow of the American Academy of Arts and Sciences and the Econometric Society.

Professor Spence served as Philip H. Knight Professor and dean of the Stanford Business School from 1990 to 1999. Before that, he was a professor of economics and business administration at Harvard University, chairman of its economics department, and dean of its Faculty of Arts and Sciences.

Professor Spence earned a Ph.D. from Harvard University in 1972, a B.A./M.A. from Oxford University in 1968 and a B.A. (summa cum laude) from Princeton University in 1966.

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Alejandro Foxley

Alejandro Foxley is senior associate, Center for Latin America Economic Research (CIEPLAN), Santiago, Chile and a senior associate in the Carnegie International Economics Program.

Prior to these positions, Mr. Foxley was minister of foreign affairs of the Republic of Chile (2006–2009). Between 1998 and 2006, he was a senator of Chile, serving as chairman of the Finance Committee and the Permanent Joint Budget Committee. Previously, he was also Chile’s minister of finance and concurrently served as a governor of the Inter-American Development Bank and the World Bank (1990–1994).

From 1998 until 2002, Mr. Foxley served as a member of the Carnegie Economic Reform Network (CERN), a distinguished group of former ministers and other senior policy makers who played key roles in advancing market-oriented economic reforms in developing and transitional economies.

From 1982 to 1989 he was Helen Kellogg Professor of Economics and International Development at the University of Notre Dame, and between 1973 and 1985 he was a visiting professor at the University of California, San Diego; MIT; Berkeley; Oxford; and the University of Sussex.

Mr. Foxley has been honored by the governments of France (L’Ordre Nacional Legion d’Honneur), Peru (Orden Sol del Perú en el grado de Gran Cruz), Austria (Gran Croix de Premier Class), Brazil (“Orden Nacional Cruzeiro do Sol” Gran Cruz), and Spain (Orden al Mérito Civil) for his contributions to the field of economics.

He is a former president and member of the board of directors of Cieplan, a think tank based in Santiago, Chile, and is the author or editor of 15 books on economics, economic development, and democracy.

Mr. Foxley holds Ph.D. in economics, University of Wisconsin; Civil Engineering Degree, Catholic University of Valparaíso (Chile)

Han Duck-soo

Han Duck-soo is Ambassador of the Republic of Korea to the United States. He is former Prime Minister and former Minister of Finance and Economy. Mr. Han holds a Ph.D. in Economics from Harvard University (1984) and a B.A. in Economics from Seoul National University (1971).

Mr. Han’s career spans over 35 years, starting at the National Tax Service in 1970 and the Economic Planning Board four years later. In 1982 he moved to what is now the Ministry of Trade, Industry and Energy, where he rose to Vice Minister in 1997-1998, during the Asian financial crisis and later became Minister of Trade Affair (1998-2000), handling trade negotiations with foreign governments.

Mr. Han served as presidential secretary of economic affairs under two presidents, first in 1993 and more recently in 2002 under former president Kim Dae Jung. In 2001, he also served as the senior presidential secretary for policy and planning. Other posts include Ambassador to the OECD in 2001, President of the Korea Institute for Industrial Economics & Trade (KIET) in 2003 and Minister, Office for Government Policy Coordination in 2004.

Rima Khalaf Hunaidi

Rima Khalaf Hunaidi is Executive Secretary for United Nations Economic and Social Commission for Western Asia (ESCWA). She is former Assistant Secretary-General of United Nations, and was also the Director of the UNDP Regional Bureau for Arab States (RBAS).

Prior to joining the UN in 2000, Dr. Khalaf Hunaidi held a number of senior government posts in her native Jordan, including Minister of Industry and Trade (1993-1995), Minister of Planning (1995-1998), and Deputy Prime Minister (1999-2000). During her tenure as head of Jordan's ministerial economic team, she was successful in pushing forward the drive for economic reform, while simultaneously spearheading the effort for poverty alleviation and strengthening the social safety net.

Dr. Khalaf Hunaidi started her professional career in 1979 as lecturer, Business School, Department of Economics with the Portland State University in Oregon. In 1988, she was appointed Director of Planning and Research Department, Ministry of Planning in Amman. Between 1990 and 1993, she successively held the posts of Director-General, Jordan Export Development and Commercial Centers Corporation and Director-General for the Investment Promotion Department in Amman. From November 1997 through September 2000, she served as a Senator in the Upper House of the Jordanian Parliament. Simultaneously, she also served as a member of the Economic Consultative Council, a public-private sector initiative established and directly supervised by His Majesty King Abdullah to promote economic reform and modernization in Jordon.

In September 2000, she was appointed Assistant Secretary-General and Director, Regional Bureau for Arab States (RBAS), at the UNDP. Dr. Khalaf Hunaidi has a Bachelor's degree from the American University of Beirut (Economics), and a Master's from Portland State University (Economics) as well as a Ph.D. in System Science. She is a proud recipient of the Grand Codon of the Order of Al-Kawkab Al-Urduni (The Star of Jordan), bestowed upon her in 1995 by late King Hussein of Jordan.

Kishore Mahbubani

Kishore Mahbubani is Dean and Professor in the Practice of Public Policy, Lee Kuan Yew School of Public Policy, National University of Singapore.

With the Singapore Foreign Service from 1971 to 2004, he had postings in Cambodia (where he served during the war in 1973-74), Malaysia, Washington DC and New York, where he served two stints as Singapore’s Ambassador to the UN and as President of the UN Security Council in January 2001 and May 2002. He was Permanent Secretary at the Foreign Ministry from 1993 to 1998. Currently, he is the Dean and Professor in the Practice of Public Policy at the Lee Kuan Yew School of Public Policy (LKYSPP) of the National University of Singapore. He is also a Faculty Associate for the LKYSPP’s Centre on Asia and Globalisation (CAG). Concurrently, Prof Mahbubani continues to serve in Boards and Councils of several institutions in Singapore, Europe and North America, including the International Institute for Strategic Studies (IISS) Council, the Asia Society's International Council, the Yale President's Council on International Activities (PCIA), and the Singapore-China Foundation - Scholarship Committee.

In the world of ideas, Prof Mahbubani has spoken and published globally. His articles have appeared in a wide range of journals and newspapers, including Foreign Affairs, Foreign Policy, the Washington Quarterly, Survival, American Interest, the National Interest, Time, Newsweek and New York Times. He has also been profiled in the Economist and in Time Magazine. He is the author of “Can Asians Think?” (published in Singapore, Canada, US, Mexico, India, China and Malaysia) and of “Beyond The Age Of Innocence: Rebuilding Trust between America and the World” (published in New York). His new book entitled “The New Asian Hemisphere: the irresistible shift of global power to the East” was published in New York in February 2008.

Prof Mahbubani was awarded the President’s Scholarship in 1967. He graduated with a First Class honours degree in Philosophy from the University of Singapore in 1971. From Dalhousie University, Canada, he received a Masters degree in Philosophy in 1976 and an honorary doctorate in 1995. He spent a year as a fellow at the Center for International Affairs at Harvard University from 1991 to 1992. He was also given the 2003–2004 Dr Jean Mayer Global Citizenship Award by the Institute for Global Leadership (IGL) at Tufts University.

He has been conferred The Public Administration Medal (Gold) by the Singapore Government in 1998. The Foreign Policy Association Medal was awarded to him in New York in June 2004 with the following opening words in the citation: “A gifted diplomat, a student of history and philosophy, a provocative writer and an intuitive thinker”. Prof Mahbubani was also listed as one of the top 100 public intellectuals in the world by Foreign Policy and Prospect magazines in September 2005.


Benjamin MKapa

Hon. Benjamin W. Mkapa is the former President of Tanzania, elected in 1995 and re-elected in 2000 for another 5 year term.

Throughout his political career, Former President Mkapa has worked hard to strengthen democracy in Tanzania, entrench civil rights and fight poverty, while increasing the country’s exposure to international trade and investment. He is active in conflict prevention, management and resolution in the Great Lakes Region of Africa, and is an active player in regional economic co-operation within the East African Community, and the Southern African Development Community (SADC) an organisation he served as Chairperson for one year from August 2003.

After handing over power following his ruling party’s successful elections in 2005, Former President Mkapa is engaged in a number of prominent global initiatives aimed at reducing abject poverty in Africa, equal economic opportunity for all mankind, and combating the HIV/AIDS pandemic. Hon. Mkapa is a Co-Chair of the Investment Climate Facility for Africa, an off-shot of the Blair Commission for Africa. He is currently serving as a Panellist in the UNCTAD High Level Panel, and High Level Panel on UN System-wide Coherence on Development, Environment and Humanitarian Assistance. He is also serving as a Commissioner on a UN High Level Commission on the Legal Empowerment of the Poor, a member of the prestigious Paris Club of Former Heads of States and Government, and member to the boards of the African Wildlife Foundation and the Dead Sea Institute. Hon Mkapa is a Co-founder of the Benjamin William Mkapa HIV/AIDS Fellowship Programme, an initiative aimed at supporting delivery of Anti-Retroviral (ARV) drugs to the under-privileged sufferers of HIV/AIDS in remote rural areas.

Mr. Mkapa is the Chairman of the South Centre, the Geneva-based intergovernmental organization of the developing countries.

Mahmoud Mohieldin

Mahmoud Mohieldin is the former Minister of Investment of the Arab Republic of Egypt since 2004. The Ministry of Investment is responsible for Investment Policy; Management of state-owned assets including privatization and restructuring of public enterprises, and joint ventures; and the non-banking financial services including capital market, insurance, and mortgage finance.

Dr. Mohieldin is a Member of the General Secretariat of the National Democratic Party, the majority Party in the Arab Republic of Egypt; he is also a member of the Policies Secretariat; and the Co-Chairman of Economic Committee of the Party. He is a Member of the Board of Trustees of the British University in Cairo; and Member of the Board of Benha University. In 2005 Dr. Mohieldin was nominated a Young Global Leader of the World Economic Forum; and a member of the Commission on Growth and Development. In addition, Dr. Mohieldin is the Governor of the Arab Republic of Egypt to the World Bank; the Alternate Governor to the African Development Bank; and the Alternate Governor to the Islamic Development Bank.

Prior to his Ministerial appointment Dr. Mohieldin was a Professor in Financial Economics, Faculty of Economics & Political Science, Cairo University. Dr. Mohieldin is a Member of the board of the Arab Society for Economic Research; Senior Research Associate of the Economic Research Forum of the Arab Countries, Iran and Turkey; Member of Middle East Studies Association of North America; Fellow of the British Society for Middle Eastern Studies, UK; Member of the Royal Economic Society, UK; and Member of the Egyptian Society for Political Economy, Cairo.

In addition to the academic career, Dr. Mohieldin worked as an Economic Advisor to the Minister of State for Economic Affairs from 1995 to 1997; Senior Economic Advisor to the Minister of Economy & Foreign Trade from 1997 to 1999; and Senior Advisor to the Minister of Foreign Trade from 1999 to 2002.

Dr. Mohieldin served as a Member of the Board of the Directors of the Central Bank of Egypt; a Member of the Board of the Directors of HSBC-Egypt; a Member of the Board of Directors of Telecom Egypt; and a Member of the Board of Directors of the Diplomatic Institute. He was also an Advisor to the Board of the Egyptian Center for Economic Studies; and the Director of Cairo Economics & Finance.

Dr. Mohieldin has published several papers and studies in the areas of Financial Economics, Financial Reform, Prudential Regulation, Trade in Services, Globalization, Exchange Rate and Monetary Policies, Corporate Governance and Competition Policy.

Dr. Mohieldin was born in Egypt in 1965. He received his Bachelor of Science in Economics, with highest Honors, First in Order of Merit, from Cairo University, Egypt. In 1989 he received a Diploma in Quantitative Development Economics, from Warwick University, England and in 1990, he received a Master of Science in Economic and Social Policy Analysis from University of York, England, and in 1995, he received his Ph.D. in Economics from University of Warwick, England.

Guillermo Perry

Guillermo Perry is a non-resident fellow at the Center for Global Development. He was Chief Economist of the Latin America and Caribbean region of the World Bank from August 1, 1996 to September 30, 2007. Prior to joining the World Bank, Mr. Perry served his native country, Colombia, in various capacities: he was Minister of Finance and Public Credit (August 1994 - April 1996); Minister of Mining and Energy (1986 - 1988); Director of National Taxes (1974 - 1976); and Deputy Director of the Departamento Nacional de Planeación y Consejo Nacional de Política Económica CONPES, 1970. He was also a Member of the Constitutional Assembly (1991) and of the Senate of the Republic (1990).

Mr. Perry has been Director of two of Colombia’s leading economic think-tanks, Fedesarrollo (1988 - 1989) and Center for Economic Development Studies, CEDE, (1972 - 1974), and currently teaches at Universidad de Los Andes and is a research associate at Fedesarrollo. He has served on the Governing Body of the Global Development Network, the Executive Committee of LACEA and the Boards of Directors of Fedesarrollo and Universidad de los Andes.

Mr Perry holds a Ph.D. in Economics and Operational Research from the Massachusetts Institute of Technology.