Professor in International Economics at the Johns Hopkins School of Advanced International Studies in Washington. She was chief economist at the World Bank and deputy managing director del International Monetary Fund. She has taught at the University of Minnesota and the Duke University. Her main areas of interest concern the role of multilateral institutions in the international economy, economic policy in commercial planning and reform plans in the development of countries. She has received numerous prizes and awards, has chaired the American Economic Association is a member of the National Academy of Sciences. She is the author of various books, including: Reforming India's external, financial, and fiscal policies, with S. Z. Chinoy, Stanford University Press (2003) and Latin American Macroeconomic Reforms: The Second Stage, with J. A. Gonzales, V. Corbo, and A. Tornell, University of Chicago press, 2003 and Governance, regulation, and privatization in the Asia-Pacific region, with T. Ito, University of Chicago press, 2004.