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| Andrés Velasco | |
|---|---|
| Name | Andrés Velasco |
| Birth date | 30 May 1960 |
| Birth place | Santiago, Chile |
| Occupation | Economist, politician, academic |
| Alma mater | Pontifical Catholic University of Chile, New York University |
| Known for | Minister of Finance of Chile |
Andrés Velasco
Andrés Velasco (born 30 May 1960) is a Chilean economist, academic, and politician who served as Minister of Finance in the administration of President Michelle Bachelet from 2006 to 2010. He has held faculty positions at institutions including Harvard University, London School of Economics, and New York University, and has advised international organizations such as the World Bank and the International Monetary Fund. Velasco is noted for his role during the 2008 financial crisis and for promoting countercyclical fiscal policy in Latin America.
Velasco was born in Santiago, Chile and raised during the period of the Pinochet regime that followed the 1973 Chilean coup d'état. He studied at the Pontifical Catholic University of Chile where he completed undergraduate work in economics and later pursued graduate studies at New York University under scholars associated with Brookings Institution and the National Bureau of Economic Research. During his formative years he intersected intellectually with figures linked to Chicago Boys debates and contemporaries from institutions like Harvard Kennedy School and Stanford University.
Velasco began his academic career with positions at New York University and later at Harvard Kennedy School where he engaged with research networks connected to World Bank projects and Inter-American Development Bank seminars. He taught courses drawing on literature from Keynesian economics, monetary policy debates influenced by scholars at London School of Economics and debated fiscal rules arising from cases studied at OECD and IMF publications. Velasco published in venues frequented by contributors from Journal of Monetary Economics circles and participated in conferences organized by Centre for Economic Policy Research and American Economic Association panels.
Velasco entered public service after building a profile among policymakers and think tanks including Center for Global Development and Peterson Institute for International Economics. He served as an advisor to President Ricardo Lagos administration initiatives and later was appointed by President Michelle Bachelet as Minister of Finance. Throughout his political trajectory he interacted with counterparts from ministries across Argentina, Brazil, Peru, Mexico, and international fora such as G20 summits and meetings of the Andean Community and Union of South American Nations.
As Minister of Finance (2006–2010), Velasco managed fiscal policy during the 2008 financial crisis and coordinated responses with institutions including the International Monetary Fund and the World Bank. He implemented countercyclical measures informed by discussions at Bank for International Settlements and fiscal frameworks comparable to rules used in Norway and Chile's own pension fund debates involving the Administradoras de Fondos de Pensiones. His ministry worked with the Central Bank of Chile to stabilize markets and engaged with multilateral partners from Inter-American Development Bank on stimulus programs. Velasco's policies were debated in national forums alongside leaders such as Sebastián Piñera and commentators from outlets linked to The Economist, Financial Times, and El Mercurio.
After leaving government, Velasco resumed academic work at institutions including London School of Economics and New York University, and participated in panels at World Economic Forum meetings in Davos. He served on advisory boards connected to UNDP initiatives and think tanks such as Inter-American Dialogue and the CSIS Latin America program. Velasco also ran in national politics, taking part in primaries that involved politicians from Christian Democratic Party (Chile), Socialist Party of Chile, and movements connected to Movimiento Amplio. He contributed op-eds to media organizations including The New York Times, Financial Times, La Tercera, and engaged with philanthropies and academic collaborations with Columbia University and University of Oxford.
Velasco advocates for countercyclical fiscal policy and structural reforms inspired by comparisons with the Nordic model and resource-management lessons from Norway and Australia; he has debated alternatives with proponents of policies associated with Milton Friedman-influenced perspectives and analysts from the Chicago School of Economics. On social policy he has engaged with proposals linked to education reform debates involving OECD assessments and with pension reform dialogues involving ILO standards. Velasco has argued for pragmatic regulatory frameworks that draw on research from International Monetary Fund staff papers, World Bank reports, and case studies from Argentina, Brazil, and Uruguay.
Velasco is married and has family ties rooted in Santiago, Chile. He has been awarded recognitions from academic institutions and invited to deliver lectures at venues including Harvard University, London School of Economics, University of Chicago, and Princeton University. His contributions have been noted by regional and global organizations such as the Inter-American Development Bank and he remains active in scholarly and policy circles spanning North America, Europe, and Latin America.
Category:Chilean economists Category:Living people Category:1960 births