Restoring Financial Stability in Emerging Markets

Andrew Karolyi is the Charles Field Knight Dean of the Cornell SC Johnson College of Business. He is a Professor of Finance and International Business as well as holder of the Harold Bierman Jr. Distinguished Professorship in the Johnson Graduate School of Management. Dr. Karolyi is also a Professor of Economics in Cornell’s College of Arts and Sciences.

A scholar in the area of investment management, with a specialization in the study of international financial markets, Dr. Karolyi has published extensively in journals in finance and economics, including the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. He has also published several books and monographs, and his research is featured in print and electronic media such as the Wall Street Journal, Financial Times, The Economist, Time, New York Times, Washington Post, Forbes, BusinessWeek, and CNBC. Dr. Karolyi recently completed a four-year term as executive editor of the Review of Financial Studies, one of the top-tier journals in finance. He has also served as an associate editor for a variety of journals, including the Journal of Finance, Journal of Financial Economics, Journal of Empirical Finance, Journal of Banking and Finance, Review of Finance, and the Pacific Basin Finance Journal.

Dr. Karolyi is a recipient of the Michael Jensen Prize for Corporate Finance and Organizations (2017), the Fama/DFA Prize for Capital Markets and Asset Pricing (2005), the William F. Sharpe Award for Scholarship in Finance (2001), the Journal of Empirical Finance’s Biennial Best Paper Prize (2006), and Johnson School’s Prize for Excellence in Research (2010). Dr. Karolyi leads various executive education programs in the U.S., Canada, Europe, and Asia, and he is actively involved in consulting with corporations, banks, investment firms, stock exchanges, and law firms. He is president-elect/program chair of the Western Finance Association, has served as a director of the American Finance Association, and is past chairperson of the board of trustees and past president of the Financial Management Association International. Dr. Karolyi received his B.A. (Honors) in Economics from McGill University and worked at the Bank of Canada for several years in its research department. He subsequently earned his MBA and Ph.D. degrees in Finance at the Graduate School of Business of the University of Chicago.

Eswar Prasad is the Nandlal P. Tolani Senior Professor of Trade Policy and Professor of Economics at the Charles H. Dyson School of Applied Economics and Management at Cornell University. He is also a Senior Fellow at the Brookings Institution, holding the New Century Chair in International Economics, and a research associate at the National Bureau of Economic Research. In addition to many other policy positions held, Dr. Prasad was chief of the Financial Studies Division in the IMF’s research department and, before that, the head of the IMF’s China division. His extensive publication record includes collective volumes, top academic journals, books, and monographs on financial globalization, China, and India. Dr. Prasad has testified on multiple occasions before the Senate Finance Committee, House of Representatives Committee on Financial Services, and other government bodies.

Kaushik Basu is Professor of Economics and Carl Marks Professor of International Studies at Cornell University. He was earlier the Chief Economist and Senior Vice President of the World Bank. Prior to joining the World Bank, Dr. Basu served as Chief Economic Adviser to the government of India. He is a Fellow of the Econometric Society and received the title Padma Bhushan, one of the highest civilian awards given by the President of India. Dr. Basu’s contributions span development economics, welfare economics, industrial organization, and game theory.

In addition to Cornell, Dr. Basu has taught at the Delhi School of Economics, Harvard, Princeton, and MIT. He has published widely in academic journals and has contributed articles to many widely read magazines and newspapers. Dr. Basu has also written several books, including “Beyond the Invisible Hand: Groundwork for a New Economics” (Princeton University Press and Penguin) and “An Economist in the Real World: the Art of Policymaking in India” (MIT Press).

Dr. Basu holds a Ph.D. in Economics from the London School of Economics. He has received honorary doctorates from several institutes, including IIT in Mumbai, and Fordham University in New York.

Lourdes Casanova is the Gail and Roberto Cañizares Director of the Cañizares Center for Emerging Markets and a Senior Lecturer at Cornell University’s Samuel Curtis Johnson Graduate School of Management. Formerly of the strategy department at INSEAD, Dr. Casanova specializes in international business with a focus on Latin America and multinationals from emerging markets.

In 2014 and 2015, Dr. Casanova was named one of the 50 most influential Iberoamerican intellectuals by Esglobal. She is a member of the board of directors of Boyce Thompson Institute.

Dr. Casanova is a Fulbright Scholar who holds a Ph.D. from Universidad de Barcelona and an M.A. from the University of Southern California.

Viral V. Acharya is the C.V. Starr Professor of Economics in the Department of Finance at New York University’s Stern School of Business (NYU-Stern) and an Academic Advisor to the Federal Reserve Banks of New York and Philadelphia. In addition to many other policy positions held, Mr. Acharya was a Deputy Governor at the Reserve Bank of India (RBI), in charge of Monetary Policy, Financial Markets, Financial Stability, and Research. In July 2020, his account of time at the RBI — including speeches while a Deputy Governor — were released in book form, titled “Quest for Restoring Financial Stability in India” (SAGE Publications India).