Paul Masson, Emerging Markets Expert, Joins The Brookings Institution

Paul R. Masson, who retired from the International Monetary Fund (IMF) in June, has joined the Brookings Institution as a visiting fellow. He has a joint appointment to the Economic Studies and Governance Studies programs until August 2003.

“We are delighted to have Paul join us for the year. His research will be an outstanding addition to our work in emerging markets,” said Robert Litan, vice president and director of Economic Studies at Brookings.

While at Brookings, Masson will write a book on monetary integration in Africa and research crises and contagion in financial markets, focusing on emerging market bonds. He will spend part of his time with the Center on Social and Economic Dynamics (CSED), working on an agent-based model of emerging financial markets. Researchers at CSED, which is affiliated with Johns Hopkins University, pioneered the use of agent-based computer modeling and depart from traditional economists by focusing on modeling and analyzing economic systems dynamically, rather than using points of market equilibrium.

“Paul’s knowledge of the inner workings of the international financial institutions and of development issues, combined with his command of sophisticated analytical tools, will be a real contribution to our efforts to develop strategies for improving the governance of the international financial architecture,” said Carol Graham, vice president and director of the Governance Studies program.

Masson has written Economic Cooperation in an Uncertain World, with Atish Ghosh, and edited several books, including EMU and the International Monetary System, with Thomas Krueger and Bart Turtelboom, and, most recently, Open Doors: Foreign Participation in Financial Systems in Developing Countries, with Robert E. Litan of Brookings and Michael Pomerleano of the World Bank. He has authored numerous articles in scholarly journals.

Before his retirement in June, Masson had been with the IMF since 1984, most recently as senior advisor in the Research and African departments. Before that, he worked with the Organisation for Economic Cooperation and Development and the Bank of Canada. Masson was also a visiting fellow at Brookings from 1999-2000.

Masson received his B.A. from McGill University and his Ph.D. from the London School of Economics.