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Peter Blair Henry

Peter Blair Henry

Joined Stern 2010

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street,
New York, NY 10012

E-mail peter.henry@stern.nyu.edu
Personal website
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Biography

Peter Blair Henry is Dean of New York University’s Leonard N. Stern School of Business. The youngest person to hold the position, he assumed the Deanship in January 2010 and joined the NYU Stern Faculty as the William R. Berkley Professor of Economics and Finance. Henry joined NYU Stern from Stanford University, where he was the Konosuke Matsushita Professor of International Economics, the John and Cynthia Fry Gunn Faculty Scholar, and Associate Director of the Center for Global Business and the Economy at the Stanford University Graduate School of Business. Henry also serves as a member of the board of directors at the National Bureau of Economic Research (NBER), the nation’s leading nonprofit, non-partisan economic research organization; as a member of the board of the Council on Foreign Relations; as a member of the board of directors for Kraft Foods, Inc.; and as a Nonresident Senior Fellow of the Brookings Institution.

An expert on the global economy, Henry led the external economics advisory group for then-Senator Barack Obama’s presidential campaign in 2008. Following the historic victory on November 4, Henry was chosen to lead the Presidential Transition Team’s review of international lending agencies such as the International Monetary Fund (IMF) and the World Bank. In June 2009, President Obama appointed him to the President’s Commission on White House Fellowships.

Henry’s expertise in the areas of emerging markets and international finance has made him a regular speaker at the IMF and has led him to testify before the United States Senate Committee on Foreign Relations and before various ambassadors to the United Nations. Additionally, Henry has served as a macroeconomic advisor to the governments of Ghana and Jamaica.

The author of numerous articles and book chapters, Henry is best known for a series of publications in the three flagship journals of the American Economic Association that overturn conventional wisdom on the topics of debt relief, international capital flows, and the role of institutions in economic growth: “Debt Relief” Journal of Economic Perspectives (Winter 2006); “Capital Account Liberalization: Theory, Evidence, and Speculation” Journal of Economic Literature (December 2007); “Institutions vs. Policies: A Tale of Two Islands” American Economic Review (May 2009).

Henry’s writing also appears in Global Crises, Global Solutions, the published proceedings of the Copenhagen Consensus, an international conference on how to make the most efficient use of the world’s scarcest resources. The Economist magazine named the conference publication one of the Best Business Books of 2004.

Henry’s continuing research on emerging markets and international finance provides fundamental insights about the impact of economic reform on the lives of people in developing countries. It uses theory and data on asset prices, investment, wages, and GDP to grapple objectively with some of the most important and contentious economic questions of our time: Does debt relief help or hurt poor countries? Should emerging nations permit capital to flow freely in and out of their economies? Is it possible to reduce inflation without undermining economic growth?

His first book, TURNAROUND: Third World Lessons for First World Growth (Basic Books, March 2013), directly addresses such issues of economic efficiency as well as matters of international relations. In it, Henry argues that the secret to emerging countries’ success (and to the future prosperity of the developed world as well) is discipline--a sustained commitment to a pragmatic growth strategy.

In many ways, TURNAROUND is an extension of Henry’s very first lesson in international economics, which he received at the age of eight as his family moved from the Caribbean island of Jamaica to affluent Wilmette, Illinois. The elusive answer to the question of why the average standard of living can be so different from one country to another still drives him today.

Henry’s research and teaching have received support from the National Science Foundation’s Early CAREER Development Program (2001-2006). From 2000 to 2001, Henry was a National Fellow at the Hoover Institution.

Henry received his PhD in economics from the Massachusetts Institute of Technology (MIT) in 1997. While in graduate school, he served as a consultant to the Governors of the Bank of Jamaica and the Eastern Caribbean Central Bank (ECCB). His research at the ECCB contributed to the intellectual foundation for establishing the first securities exchange in the Eastern Caribbean Currency Area.

Prior to attending MIT, Henry was a Rhodes Scholar at Oxford University where he received a BA in mathematics and a Full Blue in basketball. He also holds a BA in economics with distinction and highest honors from The University of North Carolina at Chapel Hill where he was a Morehead Scholar, a National Merit Scholar, a member of Phi Beta Kappa, a Marshall Scholar-Elect, a reserve wide receiver on the varsity football team, and a finalist in the 1991 campus-wide slam-dunk competition.

Born in Kingston, Jamaica, in 1969, Peter Blair Henry became a US citizen in 1986. He lives with his wife of 17 years, child psychiatrist Lisa J. Nelson, and their four sons.

Research Interests

  • Emerging markets
  • The role of institutions in economic growth
  • International capital flows
  • Debt relief

Academic Background

Ph.D., Economics, 1997
Massachusetts Institute of Technology

B.A., Mathematics, 1993
Oxford University

B.A., Economics, 1991
University of North Carolina at Chapel Hill

Awards & Appointments

 
National Bureau of Economic Research Board Member 2010
British-American Business International Advisory Board Member 2010
Kraft Foods, Inc. Board Member 2010
National Science Foundation Faculty Early CAREER Development Award 2009
Council on Foreign Relations Board Member 2008
The Brookings Institution Nonresident Senior Fellow 2005
National Economic Association President 2001
Hoover Institution National Fellow 2000

Selected Publications

Chari, Anusha, Henry, Peter B., and Diego Sasson (2012)
Capital Market Integration and Wages
American Economic Journal: Economics, 4(2): 102-32

Henry, Peter B. and Conrad Miller (2009)
Institutions vs. Policies: A Tale of Two Islands
American Economic Review, 99(2): 261-67

Henry, Peter B. (2007)
Capital Account Liberalization: Theory, Evidence and Speculation
Journal of Economic Literature, 45: 887-935

Arslanalp, Serkan and Peter B. Henry (2006)
Debt Relief
Journal of Economic Perspectives, 20(1): 207-20

Related Research

Getting More Jobs and Higher Wages

Dean Peter Henry's comments on banking reform at the Jackson Hole Economic Policy Symposium are highlighted

Dean Peter Henry discusses the importance of emerging markets to the global economy

Dean Peter Henry explains the value of an MBA

Dean Peter Henry discusses President Obama's legacy

Dean Peter Henry comments on Fed Chairman Janet Yellen's and European Central Bank President Mario Draghi's speeches at the Federal Reserve Jackson Hole Conference

Dean Peter Henry discusses Janet Yellen's remarks at the at the Jackson Hole Economic Policy Symposium

Dean Peter Henry discusses increased financial aid for scholarships at Stern

Dean Peter Henry on the importance of fiscal discipline, from his book, "Turnaround"

Dean Peter Henry participates in a Q&A with Treasury Secretary Jacob Lew

Dean Peter Henry discusses the value of higher education

Dean Peter Henry's meeting with East China Normal University MBA students is highlighted

Dean Peter Henry is profiled

MBA Bowling Night 2014 with President John Sexton and Dean Peter Henry

Dean Peter Henry attends a White House session on improving workplaces for working women & families

Dean Peter Henry Visits the White House

Dean Peter Henry explains the importance of fiscal discipline

University Prof. Paul Romer Delivers Lecture on “Approaching the City through Pasteur’s Quadrant”

Susan Jurevics, CEO of Pottermore, Urges Students to Find Ways to Have an Impact at MBA Block Lunch

Dean Peter Henry emphasizes the importance of scholarships

Areas of Expertise

Economics

  • Emerging Markets
  • Globalization & Trade
  • International Economic Policy
  • Macroeconomics

Finance

  • International Finance