BIO

Born October 28,1942 in Rio de Janeiro, Brazil. Graduate studies in Law -State University of Rio de Janeiro, 195; and Economics- Federal University of Rio de Janeiro, 1966. Master of Arts in Economics,1971 and Ph.D in Economics, 1977, both at the University of Chicago. Among the positions occupied, the following: Senior Economist, transportation and Regional Economics, PLANAVE -Rio de Janeiro, 1974-76; Chief Economist and Research Director, Brazilian Institute of Capital Markets, 1976-1982; Commissioner, Comissão de Valores Mobiliários (Brazilian SEC), two terms, 1982-1985 and 1995-1998; Vice President, PNC International Bank, 1986-1991; Director, Commodities and Futures Exchange (BM&F), 1991-1995; Visiting Professor, Columbia University, 1998; presently Professor of Economics, ESALQ/USP (University of São Paulo). Author of several books and articles, published in Brazil and abroad.