Succeeding in Emerging and Developing Markets:
Understanding How Institutions Impact Firms and Managers
Faculty Development in International Business
June 11-14, 2013
Dr. Meghana Ayyagari
received her Ph.D. in Finance from the University of Maryland, College Park. Her research interests are in the area of international corporate finance and development economics with an emphasis on the constraints faced by firms in developing economies.
Professor Ayyagari's academic research has been published in the Review of Financial Studies, Journal of Banking and Finance, Journal of Financial and Quantitative Analysis, and Small Business Economics. She has been the recipient of grants from the National Science Foundation (NSF) to study property rights protection, and corruption and tax evasion across developing countries.
Professor Ayyagari has served as a consultant for several international organizations including the Development Research Group at the World Bank, USAID, and the Center for Institutional Reform and the Informal Sector (IRIS). She is a member of the American Finance Association (AFA), Western Finance Association (WFA) and the Academy of International Business (AIB). She teaches courses in international financial management and international business.
is a Senior Advisor for Diaspora Partnerships in the Global Partnerships Division at the U.S. Agency for International Development. He leads the Agency's engagement with diaspora communities. He focuses on creating partnerships and developing programs that engage diaspora organizations in the U.S. in order to achieve development objectives of the Agency.
Prior to joining the Agency, Romi was the V.P of International Operations at Microfinance International Corporation where he managed partnerships with microfinance institutions (MFIs) in Latin America. He launched and managed the Transnational Loan program for Latin American immigrants in the U.S. that sought to channel remittances for home purchases and small and medium enterprise (SME) development in their country of origin.
In 2001, Romi conducted his Fulbright research on the use of smart-card technology to enhance microfinance operations in India with Swayam Krishi Sangam (SKS) Microfinance. Romi currently teaches microfinance as an adjunct lecturer at the George Washington University School of Business.
Patrick Cirillo, a national of Italy and Canada, is currently Principal Assistant to The Secretary of the International Monetary Fund and the IMF's International Monetary and Financial Committee (IMFC). During his Fund career, he was also the Secretary to the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G24), which brings together the major developing countries. He has served as Deputy Chief of Operations in the IMF secretariat and Deputy Chief of Public Affairs in the IMF's External Relations Department.
During his graduate studies in Geneva, he was a summer intern and a consultant at the IMF Office in Geneva, the managing editor of a series of financial newsletters on Eastern Europe, and an economic advisor to the Ambassador of Malta to the United Nations Offices in Geneva.
Before joining the Fund staff in 1996, Patrick was a Ph.D. candidate at the Institut Universitaire de Hautes Etudes Internationales (HEI) in Geneva, Switzerland. He received his first Master of Arts in International Relations from the University of Toronto and his second MA (a diplome d'etudes superieures) from HEI. He pursued undergraduate studies in Canada, France, and Austria.
Dr. Reid W. Click
is Associate Professor of International Business and International Affairs at George Washington University in Washington, DC, where he teaches courses in international financial management, macroeconomics for the global economy, and international economics. He is currently serving as Director of the GW Center for International Business Education and Research (GW-CIBER).
An expert on international financial risk and risk management, his academic research been published in leading journals, including the Journal of International Business Studies. He is currently serving as Associate Editor in the field of international finance for the Journal of Asian Economics, and as an advisor to the U.S. Agency for International Development (USAID) Office of Development Credit on matters pertaining to international financial risk and risk management.
He has held visiting positions in research organizations around the world, most recently as a Fulbright Scholar at the Asian Institute of Management in Manila, The Philippines, for 2009-2010. He received M.B.A. (1987) and Ph.D. (1994) degrees in Economics and International Business from the University of Chicago Booth School of Business.
Mr. Michael A. Griffin
is the Chief Executive Officer of Sardis Enterprises International, an international trading company founded in 1994 and incorporated in Chicago, Illinois in 1995. Mr. Griffin manages all aspects of the company including two International offices in Ghana and Sierra Leone in West Africa and has successfully obtained prospective venture capital investors for his agricultural projects. Mr. Griffin has long been an outspoken advocate for doing business in Africa and is passionate about Africa competing in the global economy.
Mr. Griffin a graduate of the University of Oklahoma, played professional international basketball in Quito, Ecuador and Peru, South America, where he first became exposed to international trade.
As CEO of Sardis Enterprise International, Mr. Griffin initiated the exports of Ashanti Green Pineapple out of Ghana West Africa and other products including gold bullion, and cocoa. He is now working on the company’s latest project the Jatropha Plant which is a bio diesel fuel.
Mr. Griffin is the first African American to trademark the Ashanti green pineapple and import it from Ghana West Africa to the United States of America, where it has been carried in Safeway Stores and Dominick’s stores in Chicago; and recently in the Whole Food stores in the Southeast parts of the United States.
Mr. Griffin has an impressive history of achievements, which have been featured in articles in some of Ghana’s newspapers including the Daily Graphic (Ghana’s biggest selling newspaper) the Network Herald and the African Spectrum, a Chicago based newspaper featuring “ASHANTI PINEAPPLES MAKES IT TO THE U.S.“ He is also a featured speaker and co-host of Philadelphia, Pennsylvania’s African-American owned and operated 900 AM WURD Talk Radio. Michael Griffin is the proud father of four children and he resides in Philadelphia and Accra, Ghana West Africa.
Dr. Doug Guthrie
is Dean of the George Washington University School of Business and Vice President for University China Operations. He is a recognized expert in the fields of economic reform in China, leadership and corporate governance, and corporate social responsibility.
Prior to joining GW, Dr. Guthrie served as Professor of Management at New York University's Leonard N. Stern School of Business. Dr. Guthrie held visiting positions at Harvard Business School, INSEAD and the graduate schools of business at Columbia, Stanford, and Emory University. He served as Director of the Business Institutions Initiative at the Social Science Research Council (1999-2003) and Academic Director of the Berlin School of Creative Leadership from 2008-2011.
Dr. Guthrie holds an A.B. in East Asian Languages and Civilizations with a concentration in Chinese literature from the University of Chicago. He earned his Master's and Ph.D. degrees in organizational sociology from the University of California, Berkeley. His doctoral research was recognized with the American Sociological Association's national award for the top dissertation in the field in 1997. Fluent in Mandarin Chinese, Dr. Guthrie studied in Taipei, Taiwan during his undergraduate years and conducted his doctoral research in Shanghai, China.
is Executive Director of the Aspen Network of Development Entrepreneurs (ANDE), a global network of organizations that propel small business entrepreneurship in emerging markets. ANDE's 170 plus members operate in more than 150 emerging market countries. As executive director of ANDE, Randall oversees the implementation of ANDE's extensive program and training agenda, its five international chapters, and multiple grant and challenge competitions that support the entrepreneurship sector.
Randall has twenty years of experience in the field of international economic development. Most recently, he served as Vice President for Regional Innovation at the U.S. Council on Competitiveness and prior to that was a founder of OTF Group. Randall graduated from the University of Texas with an M.B.A and an M.P.Aff. He earned his bachelor's degree in Government from Harvard College.
Dr. Jianhai Lin
is the Secretary of the Fund and the International Monetary and Financial Committee. He oversees the Secretary's Department that has operational responsibility for the 24-member Executive Board, and serves as the official contact point of the IMF's 188 member countries on institutional matters, including work of the Board of Governors. The Secretary's Department also organizes Spring and Annual Meetings, and is the creator and custodian of the IMF's official record.
A Chinese native, Mr. Lin was appointed to his current position in March 2012. He previously served in senior positions in the Secretary's, Finance, Policy Development and Review, and Asian and Pacific Departments. During his IMF career, he has worked across a wide range of country, policy, and administrative issues.
Mr. Lin studied at the University of International Business and Economics in Beijing, China, and the University of California at Berkeley, and earned his doctorate from the George Washington University. Before joining the Fund, he worked in the financial sector and academia.
has over thirty-five years of experience in emerging markets, providing private sector investment, financing and financial advisory services to governments, corporations, financial institutions and private investors. Mr. Pingle has been the President and CEO of PMD International, Inc. ("PMD") since its establishment in 1987. Mr. Pingle is responsible for PMD's worldwide activities. From 1981-1988, Mr. Pingle was Senior Vice President of Lazard Frères & Co. in New York and Director of the International Government and Corporate Finance Group, responsible for all emerging markets activities, including corporate and project finance, government advisory and debt restructuring assignments. From 1980 to 1981, he served as Senior Investment Officer at the International Finance Corporation. From 1973 to 1979, Mr. Pingle was employed by Chemical Bank, New York where he became Vice President; Director of Chemical Asia Ltd., Hong Kong; and was a member of the Credit Policy Committee of the Bank. Mr. Pingle graduated with a B.A. in History form the University of Virginia in 1968. In 1971, he obtained a Diploma in International Economics from the Free University of Brussels. Subsequently, he completed doctoral course work in economic development and international trade at The Johns Hopkins University.
PMD INTERNATIONAL, INC. PMD International Inc. ("PMD") is a private investment bank formed in 1987 by a group of senior bankers from Lazard Frères & Co., New York and Lazard Brothers Limited, London. PMD focuses exclusively on private sector cross-border transactions and investments in developing countries. PMD specializes in the following services: • Project Finance • Direct Foreign Investment • Corporate Finance, Acquisition & Divestiture • International Debt Restructuring. The Directors of PMD have completed transactions in over seventy-five countries. In addition to funding and implementing transactions, PMD provides clients with financial and commercial advice, market-specific information and detailed economic, financial and political analysis. PMD has extensive experience in attracting and making direct foreign investments in developing countries, including those categorized as "post-conflict" and "fragile states". Recent transactions include funding for projects in Kazakhstan, Kosovo, Kyrgyzstan and Ukraine. PMD is currently working on private sector investments in Libya, Myanmar, Republic of the Congo and Tanzania, among other locations. PMD has been involved in some of the world's largest cross-border limited recourse project financings. PMD's Directors are identified with the development of two well-known project finance innovations: the Build-Own-Transfer and Build-Own-Operate concepts and the leasing of public sector infrastructure in emerging markets. PMD's Directors were also responsible for the first use of Shariah-compliant Revenue Participation Certificates to finance infrastructure. PMD maintains offices in Washington, D.C., USA and London, England. Contact information is available at PDM International
Dr. Rita Ramalho
is the program manager of the World Bank�IFC Doing Business and Women, Business and the Law projects. Doing Business provides objective measures of business regulations for local firms in 185 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency, and trading across borders.
Women, Business and the Law presents indicators based on laws and regulations affecting women's prospects as entrepreneurs and employees, drawing in part on laws contained in the Gender Law Library. The data can inform research and policy discussions on how to improve women's economic opportunities and outcomes.
Previously Ramalho was the program manager of the World Bank�IFC Enterprise Analysis Unit, which produces Enterprise Surveys. Enterprise Surveys provide the world's most comprehensive company-level data for emerging markets and developing economies. Enterprise Survey data are available on more than 120,000 firms in 125 countries. The data are used to create indicators that benchmark the quality of the business and investment climate across countries from the perspective of both female and male entrepreneurs. Ramalho holds a PhD in economics from the Massachusetts Institute of Technology. Her previous research focused on the impact of regulation on economic variables such as growth, where she found that better business regulations can lead to more growth. Currently she is researching the impact of regulations on female labor force participation, tax policy and entrepreneurship, labor regulations, and the size of the informal sector. She speaks Portuguese and is conversant in Spanish.
is an attorney and consultant who advises U.S. and international clients in connection with transactions and projects that aim to optimize financial and/or social returns. He works with RENEW Strategies, an investment advisory and management consulting firm serving investors who seek to make both social impact and financial returns from investments in developing countries.
As a lawyer, Mr. Scriven has advised prominent private equity clients and other leading financial services firms and Global 500 companies, development consulting firms and non-profit organizations. Prior to joining RENEW, Mr. Scriven was an Associate with the law firm Morgan, Lewis & Bockius LLP in Washington, D.C., where he represented some of the world's leading companies involved in mergers, acquisitions, joint venture transactions, government investigations and private litigation.
Mr. Scriven currently is helping to start Success Markets, Inc. (SMI), a 501(c)(3) organization which advises funders and suppliers of human assistance on ways to measure and optimize the value they create for the disadvantaged. He directs SMI's Success Fund, which invests in select charitable projects and manages them to achieve a high social return on investment for those in need.
Mr. Scriven also serves on the board of the Millennium Institute, a non-profit organization promoting systemic thinking and dynamic modeling tools to help governments and agencies attain sustainable development worldwide. Mr. Scriven received his J.D. from the University of Virginia School of Law and his bachelor's degree, summa cum laude, in political science from Houghton College.
S. Qaisar Shareef
concluded a nearly 30-year career with Procter & Gamble in 2011. He joined the company in 1981 in Cincinnati, Ohio and served in several roles within the US and in P&G's international operations in Marketing and in General Management. Most recently, he headed up the P&G operations in Pakistan; a role in which he served until early 2011, before returning back to the US. Prior to this role in Pakistan he worked as Marketing Director, Global Operations at the P&G Headquarters in Cincinnati, Ohio.
In 1991, Qaisar launched the Procter & Gamble subsidiary in Pakistan and served as Country Manager for 5 years, following which he was transferred to Ukraine as the head of P&G operations there.
In 2006 he was once again assigned to head up P&G operations in Pakistan. He has headed up P&G's business in Pakistan for over 10 years, spread over two assignments. This business today has sales turnover of over quarter billion dollars. During his tenure at P&G Pakistan, the company made significant investments in local manufacturing plants. Most recently Procter & Gamble Pakistan received the Award for Corporate Excellence from the State Department in Washington DC, recognizing the company's contributions in corporate social and environmental responsibility, and it's excellence in community engagement.
During his assignment in Pakistan Qaisar was twice elected to the Management Committee of the Overseas Chamber of Commerce in Karachi. He served as chair of the taxation and CSR subcommittees of this chamber. He was also twice elected to the Executive Committee of the American Business Council in Pakistan. This chamber has recently named Qaisar as their representative to the US Pakistan Business Council in Washington DC.
Over the course of his P&G career, Qaisar has worked in Marketing, Market Research, on Sales teams and in General Management. He has worked in North America, Asia and Eastern Europe; in developed and developing markets.
During his time as country head at P&G Pakistan, Qaisar worked closely with several non profit organizations engaged in providing education to the under privileged and in disaster relief. He continues to serve on the board of some of these organizations. He is presently serving on the board of HOPE USA, and the Executive Committee of US Pakistan Foundation. He is also a charter member of OPEN DC, organization of Pakistani entrepreneurs in Greater Washington DC.
Qaisar is originally from Pakistan and first moved to Cincinnati in 1977. He has a bachelor of science degree in management from the Middle East Technical University, in Ankara, Turkey, and an MBA from the University of Cincinnati, in Ohio.
His personal interests include music and travel, particularly with a focus on history, culture and architecture. He is based in the Washington DC area.
Ambassador David Shinn
has been teaching as an adjunct professor in the Elliott School of International Affairs at George Washington University since 2001. He previously served for 37 years in the U.S. Foreign Service with assignments at embassies in Lebanon, Kenya, Tanzania, Mauritania, Cameroon, Sudan and as ambassador to Burkina Faso (1987-1990) and Ethiopia (1996-1999). He is the co-author of China and Africa: A Century of Engagement (2012) and An Historical Dictionary of Ethiopia (2013). He serves on the board of a number of non-governmental organizations and lectures around the world.
He blogs at http://davidshinn.blogspot.com. He has a PhD in political science from George Washington University.
Ambassador John Simon
was a visiting fellow at the Center for Global Development prior to starting Total Impact Advisors, where he co-authored More than Money, a report on impact investing as a development tool. Previously, he held a variety of posts in the U.S. federal government, including serving most recently as the US Ambassador to the African Union and the Executive Vice President of the Overseas Private Investment Corporation (OPIC). At OPIC, Ambassador Simon championed the Agency's involvement in the social impact investment marketplace, spearheading efforts to finance housing in Africa, small and medium businesses in Liberia, and a large scale renewable power plant in Liberia. He led the Agency's effort to develop a series of social development funds for Africa, which resulted in the creation of four private equity funds focused on achieving extraordinary social results as well as strong financial performance.
Ambassador Simon also served as Special Assistant to the President and Senior Director for Relief, Stabilization, and Development for the National Security Council (NSC) at the White House, the first to hold this post. During his tenure at the NSC, he oversaw the implementation of groundbreaking development initiatives, including the Millennium Challenge Account, the President's Emergency Plan for AIDS Relief, the Multilateral Debt Relief Initiative, and the President's Malaria Initiative. He was also responsible for the U.S. response to international humanitarian disasters, such as the 2005 South Asia earthquake.
From 2002 to 2003, Ambassador Simon was Deputy Assistant Administrator at the United States Agency for International Development, overseeing the agency's development information and evaluation units. Earlier in his career, he served as Director of Business Finance and Strategic Planning at Harvard Pilgrim Health Care and worked for the Commonwealth of Massachusetts' Executive Office for Administration and Finance in several capacities, including Deputy Director for Research and Development. Ambassador Simon received his bachelor's degree from Princeton University and a master's degree in public policy from Harvard University.
Monika Kalra Varma, J.D
has been a member of the Robert F. Kennedy Center for Justice & Human Rights team since 2002. Ms. Varma spearheaded the Center's extensive and innovative economic and social rights advocacy, including efforts to hold international actors accountable for extra-territorial economic rights violations. She has led advocacy campaigns targeting the United Nations and Member states, U.S. Administration and Congress, OAS Member states, International Financial Institutions, corporations, and regional bodies. Ms. Varma regularly speaks on domestic and international human rights issues before policy makers and civil society, and has published opinion editorials in the Boston Globe, the Guardian, the Huffington Post, the Jurist and several online media outlets.
Ms. Varma currently serves on the Editorial Board of the Harvard-based Francois-Xavier Bagnoud Health and Human Rights Journal and is a Steering Committee member of the Lawyers Emergency Response Network for Haiti. She also serves on the Board of Governors of the Women's National Democratic Club and is a member of the Advisory Board for the Global India Fund.
Prior to joining the RFK Center, Ms. Varma worked for the UN International Criminal Tribunal for the former Yugoslavia in Hague, Netherlands as a legal officer with the Office of the Prosecutor. She was a member of the trial team which secured the Tribunal's first indictment and eventual conviction of the crime of terror against General Stanislav Galic, the Serb military commander in Sarajevo from 1992-1994.
Ms. Varma received her Bachelor of Arts degree from the University of California, San Diego. She attained a Juris Doctorate degree from the University of California at Davis School of Law.
Dr. Robert Weiner
is Professor of International Business, Public Policy & Public Administration, and International Affairs, at the George Washington University School of Business, Washington DC. He is also Senior Advisor to the Brattle Group, and Membre Associé, GREEN (Groupe de Recherche en Économie de l'Énergie et des Ressources Naturelles), Département d'économique, Université Laval, Québec, and was the 2005-2006 Gilbert White Fellow at Resources for the Future. During 1997-1998, he was Visiting Professor of International Economics at the Johns Hopkins University School of Advanced International Studies (SAIS).
Prof. Weiner received his Bachelor's degree in Applied Mathematics, and Master's and Doctoral Degrees in Business Economics, all from Harvard University. He has authored or coauthored four books (Energy and Environment, Oil Shock, Oil and Money, and Oil Markets in a Turbulent Era), and more than fifty articles on energy economics and finance.
Prof. Weiner's research interests and projects focus on energy security, including resource nationalism & political risk, oil & corruption, petroleum fiscal vulnerability, dynamics of energy crises, foreign investment in the Russian petroleum industry, oil speculation and market turbulence, and privatization & the behavior of state-owned enterprises in the world petroleum market. Current projects include examination of the UN Oil-for-Food Program in Iraq, and resource acquisitions by Chinese and Indian state oil companies.
Prof. Weiner served as Chairman of the GW Department of International Business 2001-2005, building its research-oriented faculty and national ranking. He has lectured to executives in Russia, Spain, and the United States, and taught at Harvard University, Brandeis University, and the Royal Complutense University (Spain), offering courses in finance, international business, industrial organization, and environmental and natural-resource economics.
Prof. Weiner has been Research Fellow in the International Energy Program, Center for Business and Government, John F. Kennedy School of Government, Harvard University and consultant to Amoco; Mobil; Phillips; Texaco; the International Petroleum Exchange; the New York Mercantile Exchange; the U.S. Department of Energy; the U.S. International Trade Commission; the Harvard Institute for International Development; and the World Bank. He has won research awards from the Ministére des Affaires Internationales, Québec; Resources for the Future; the Columbia Center for the Study of Futures Markets; and the U.S. National Science Foundation.
Prof. Weiner has advised US government agencies, international institutions, energy consultancies, financial services providers, and oil companies. He testified before the US Congress, Subcommittee on Agriculture, Energy, and Trade of the House Small Business Committee (2011), and UK Parliament, Commons Treasury Select Committee, Panel on Regulation of Oil Markets (2008). He served as an Eminent Person on Commodities for the United Nations Conference on Trade and Development (2003).
Dr. Philip Wirtz
is Vice Dean for Programs and Education of the George Washington University School of Business. His substantive expertise lies in the analysis of complex human and socio-political structures using advanced multivariate techniques, most recently applied to relational demography and social climate of the organizational substructures in the hospitality industry.
Dr. Wirtz has served on the School of Business faculty for 28 years, has served as a Visiting Professor at Brown University, and has served as statistical advisor to numerous government, quasi-government, and commercial organizations. He is co-creator of the Adolescent Drinking Inventory (an instrument for identifying youth who are at long-term risk for alcohol problems) and is the widely-cited author of numerous journal articles and book chapters on complex statistical methodology. Prior to joining the School of Business faculty, Dr. Wirtz was the Associate Director of the Social Research Group (a GW-based thinktank) and served as Executive Vice President of Applied Computer Research Associates, Inc.
Dr. Wirtz holds a B.A. in Psychology from George Washington University. He earned his Master's Degree in Computer Science from Purdue University and his Ph.D. degree in Applied Social Psychology from George Washington University. Before assuming the position of Vice Dean, he served for many years on the GW Faculty Senate Executive Committee, and served as an elected faculty representative on the search committees for the University President and the University Provost. He is the recipient of numerous awards for teaching and service, including the prestigious George Washington Award and the Peter B. Vaill Award for Teaching. He is responsible for teaching GWSB's core Ph.D. courses in Statistics.