Richard David Portes

CBE The Most Excellent Order of the British Empire is a British order of chivalry, rewarding valuable service in a wide range of useful activities. It comprises five classes of awards across both civil and military divisions, the most senior two o ...

is a professor of

Economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ...

and an Academic Director of the AQR Asset Management Institute at

London Business School London Business School (LBS) is a business school and a constituent college of the federal University of London. LBS was founded in 1964 and awards post-graduate degrees (Master's degree, Master's degrees in management and finance, Master of B ...

. He was President of the

Centre for Economic Policy Research The Centre for Economic Policy Research (CEPR) is an independent, non-partisan, pan-European non-profit organisation. It aims to enhance the quality of policy decisions through providing policy-relevant research, based soundly in economic schola ...

, which he founded. He also serves as Directeur d'Etudes at the

Ecole des Hautes Etudes en Sciences Sociales The School for Advanced Studies in the Social Sciences (, EHESS) is a graduate ''grande école'' and '' grand établissement'' in Paris focused on academic research in the social sciences. The school awards Master and PhD degrees alone and conjoi ...

Paris Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...

. He was a

Rhodes Scholar The Rhodes Scholarship is an international Postgraduate education, postgraduate award for students to study at the University of Oxford in Oxford, United Kingdom. The scholarship is open to people from all backgrounds around the world. Esta ...

and a Fellow of

Balliol College, Oxford Balliol College () is a constituent college of the University of Oxford. Founded in 1263 by nobleman John I de Balliol, it has a claim to be the oldest college in Oxford and the English-speaking world. With a governing body of a master and aro ...

. He also taught at

Princeton University Princeton University is a private university, private Ivy League research university in Princeton, New Jersey, United States. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial ...

Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...

(as a

Guggenheim Fellow Guggenheim Fellowships are grants that have been awarded annually since by the John Simon Guggenheim Memorial Foundation, endowed by the late Simon and Olga Hirsh Guggenheim. These awards are bestowed upon individuals who have demonstrated d ...

), was the founder of the Economics Department at

Birkbeck College Birkbeck, University of London (formally Birkbeck College, University of London), is a public research university located in London, England, and a member institution of the University of London. Established in 1823 as the London Mechanics' ...

(

University of London The University of London (UoL; abbreviated as Lond or more rarely Londin in Post-nominal letters, post-nominals) is a collegiate university, federal Public university, public research university located in London, England, United Kingdom. The ...

) in 1972. In 1999–2000, he was the Distinguished Global Visiting Professor at the

Haas School of Business The Walter A. Haas School of Business (branded as Berkeley Haas) is the business school of the University of California, Berkeley, a Public university, public research university in Berkeley, California. It was the first business school at a pub ...

University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California), is a Public university, public Land-grant university, land-grant research university in Berkeley, California, United States. Founded in 1868 and named after t ...

, and in 2003–04 he was

Joel Stern Joel M. Stern († 21.05.2019) was chairman and chief executive officer of Stern Value Management, formerly Stern Stewart & Co, and the creator and developer of economic value added. He was a recognised authority on financial economics, corporate pe ...

Visiting Professor of International Finance at

Columbia Business School Columbia Business School (CBS) is the business school of Columbia University, a Private university, private research university in New York City. Established in 1916, Columbia Business School is one of six Ivy League business schools and one of ...

. Professor Portes is a Fellow of the

Econometric Society The Econometric Society is an international society of academic economists interested in applying statistical tools in the practice of econometrics. It is an independent organization with no connections to societies of professional mathematicians o ...

and a Fellow of the

British Academy The British Academy for the Promotion of Historical, Philosophical and Philological Studies is the United Kingdom's national academy for the humanities and the social sciences. It was established in 1902 and received its royal charter in the sa ...

. He was the longest serving Secretary-General of the

Royal Economic Society The Royal Economic Society (RES) is a professional association and learned society that promotes the study of economics. Originally established in 1890 as the British Economic Association, it was incorporated by royal charter on 2 December 1902. ...

(1992–2008) since

John Maynard Keynes John Maynard Keynes, 1st Baron Keynes ( ; 5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originall ...

. He is Co-Chairman of the Board of Economic Policy. He is a member of the Group of Economic Policy Advisers to the President of the

European Commission The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...

. He is the chair of the Steering Committee of the Euro50 Group, of the

Bellagio Group The Bellagio Group is a group of international economists, senior central bankers and Treasury officials who meet annually to discuss international economic and financial issues. History The group was formed in the 1960s by Austrian economist Frit ...

on the International Economy, and of the Advisory Scientific Committee to the European Systemic Risk Board.

Writings

Portes's research interests include international finance, international macroeconomics, macroprudential regulation, European integration, and European bond markets. He has written extensively on sovereign debt, European monetary and financial issues, international capital flows, centrally planned economies and transition, macroeconomic disequilibrium, and European integration. His study (with Richard Baldwin and Joseph Francois) on the ''Eastern Enlargement of the European Union'' was widely cited in the public policy debate leading up to the 2004 Enlargement. His work on

collective action clause A collective action clause (CAC) allows a supermajority of bondholders to agree to a debt restructuring that is legally binding on all holders of the bond, including those who vote against the restructuring. Bondholders generally opposed such cla ...

s in sovereign bond contracts, on the international role of the euro, on international financial stability and on European bond markets has been directed towards policy as well as academic publications.

Awards

Richard Portes was created

in the Queen’s

2003 New Year Honours The 2003 New Year's Honours List is one of the annual New Year Honours, a part of the British monarch's honours system, where 1 January is marked by naming new members of orders of chivalry and recipients of other official honours. A number of ot ...

. Portes holds three honorary doctorates, including one from

Paris Dauphine University Paris Dauphine University - PSL () is a Grande École and public institution of higher education and research based in Paris, France, Collegiate university, constituent college of PSL University. As of 2022, Dauphine has 9,400 students in 8 fields ...

Notes

External links

Web page of Richard Portes at London Business School

Web page of Richard Portes on voxeu.org

{{DEFAULTSORT:Portes, Richard Living people 20th-century American economists American Jews Commanders of the Order of the British Empire Fellows of the British Academy Fellows of the Econometric Society Academics of London Business School Fellows of Balliol College, Oxford Princeton University faculty Harvard University staff Academics of Birkbeck, University of London British economists Economists from Illinois American Rhodes Scholars Yale University alumni Social scientists from Chicago Alumni of Balliol College, Oxford European Economic Community officials Academic staff of the School for Advanced Studies in the Social Sciences 21st-century American economists Year of birth missing (living people)