ELENA PANARITIS

· 2330 Massachusetts Av. NW, Washington D.C. 20008 ( (US) +1.202.468.8833; (FR)+33.673-43-85.25; (GR)+30.69.74.75.84.95; +30.210.751.1573 · elena.panaritis@alumni.insead.edu; epanaritis@jhu.edu

PROFILE

Leading expert in the design and implementation of policy reforms promoting social cohesion and economic development. Specialty in structuring innovative reform models on formalization of property rights; public-private sector partnerships; government modernization; in creating markets in illiquid assets.

Advised countries on economic, financial, and legal policies; involved in strategy design for the re-insertion of Latin American economies into the world-economy in the early 1990s.

Extensive experience in teaming with senior stakeholders – Ministers of Finance, Economics, Privatization, Foreign Affairs, the Congress, private sector leaders of various nations and Managing Directors of major investment banks– Acknowledged internationally for innovative and creative outcomes.

EXPERIENCE

JOHNS HOPKINS UNIVERSITY, The Paul H Nitze School of Advanced International Studies

Adjunct Professor – Co-Teach with Francis Fukuyiama “Social Capital and Development,” 2002 to present

UNIVERSITY OF PENNSYLVANIA, The Wharton School – Philadelphia, PA, 2001 to present

Visiting Lecturer

· Lecture “International Housing Comparison – Property Rights”

THE WORLD BANK, Washington, DC, 1991

Economist advisor; market development, 2001 to present

Economist, Public/Private Sector Management Specialist: Poverty Reduction and Economic Management Department; Public/Private Sector Modernization Unit; Latin America and other regions, 1997- 2001

Manage loans for the implementation of these policies.

· Monitored the property rights reforms in the Philippines.

· Developed privatization model for real estate widely accepted in 7 countries around the world: Results: about five times the returns of regular corporate privatizations

· Managed and designed a $ 66 million program on urban real estate in Peru

Results: over 6 million beneficiaries are incorporated in the market with asset value estimated at US$ 4 billion, in less than three years; -- “Best Practice” and “Innovation” classifications from both the World Bank and the US Government. The project includes the design of both new financial products and new financial intermediaries, aimed at potential borrowers without prior credit history. URL for details www.worldbank.org\lacproperty & www.worldbank.org/developmentnews/archives/html/jan31-feb4-00.htm#2-2

· Designed Government Modernization programs -best practice- for effective public service delivery to citizens

· Led Judicial Reform projects e.g. in Trinidad and Tobago, for efficient service delivery

· Constructed reform programs creating new regulatory environment to foster private sector development.

· Designed sector adjustment loans in Eastern Europe, the Middle East, East Africa, Asia and Latin America

· Structured $15 million Housing Finance project for Algeria

· Designed loan conditions for $100 million Postal/Banking Sector Financial Services reform in Morocco

Economist: Private Sector Development Division, Latin America and other geographic regions, 1994-1997

· Advised on the design of Government Reform programs for better public service delivery.

· Managed a ¥155.2 million Japanese funding for the implementation of the Peru privatization program.

· Authored papers on the creation of new markets, property privatization, and institutional reforms.

Regional Analyst: Country Operations Division, 1991-1993

· Deputy Country Officer for Peru: Supervised Privatization and the Debt Restructuring programs for the reinsertion of the country in the world economy; maintained the dialogue between Bank and client.

· Managed Privatization Programs of Latin American countries.

· Drafted conditions for Structural Adjustment Lending for Latin American countries -Peru, Brazil, Venezuela- on Macro adjustments and on Privatization Structural Lending in Peru.

Results: Peru, Brazil, and Venezuela successfully paid arrears and followed reforms. 200 State owned enterprises were privatized in 1993-1994 for more than 5 billion dollars of revenue.

· Designed and implemented innovative model for real estate privatization in Peru, which resulted in a record 150,000 privatized properties in a year.

Page 2 résume Elena Panaritis

EDUCATION

INSEAD, Fontainebleau, France, 2003

Masters in Business Administration

HARVARD UNIVERSITY, Boston, Massachusetts, 2001

The John F. Kennedy School of Government,

Executive Program

“Global Financial Markets and Crisis”

THE JOHNS HOPKINS UNIVERSITY, The Paul H. Nitze School of Advanced International Studies (SAIS)

M.A. in International Economics and European Studies, Washington, DC, 1991 Masters Diploma in International Economics, Bologna, Italy, 1990

· Taught graduate students in advanced macroeconomics

THE AMERICAN COLLEGE OF GREECE, Athens, Greece, 1989

B.A. in Economics

· President of the Economics Society and of the International Debating Team.

LANGUAGES

· Fluent: English, Spanish, French, Italian; Native: Greek; Basic: German

HONORS

· Awarded “Best Practice” and “Innovation” from The World Bank

· Awarded Honorary US residency on the basis of Professional Outstanding Performance in the area of creation of new markets (on property rights - real estate)

· Awarded the Johns Hopkins University School of Advanced International Studies Fellowship

· Awarded with Distinction the Bachelor’s of Art degree in Economics

PERSONAL INTERESTS

· Writing a book on “How Property Rights Foster Wealth and Democracy: The Peru Story”

· Freelance photographer, Tango dancing aficionada, enjoy swimming and water sports

· Enjoy gourmet cooking, Porto wine, meeting people, and discovering hidden elements of countries’ history

REFERENCES

Bear Stearns & Company Inc. – Judith Albert

EBRD Chief Economist - Willem Buiter

EBRD Deputy Chief Economist (former) – Ricardo Lago

ETOLIAN CAPITAL partner- George Hanjinicolaou

INSEAD professors - finance: Pierre Hillion and Jean Dermine; Organizational Behavior: Luis Jose Alvarez

JP Morgan MD Latin America (former) - Carl Muñana

Merrill Lynch, MD – Michaela Trezek

Peru Republic, Vice President and Minister of Privatization (former) – Jaime Yoshiyama,

Ministers of Economy and Finance (former) - Effraim Goldenberg and Carlos Bologna

President of University of New Brunswick in Canada– John McLaughlin

President of the Institute of Liberty and Development and Author – Hernando de Soto

The Wharton School, University of Pennsylvania – Susan Wachter (former HUD Undersecretary,)

Bulent Gultekin

World Bank- IFC: – Issam Abousleyman, Michael Ayoub, John Balafoutis, Harry Broadman, Pedro Belli,

Krishna Challa, Roberto Dañino (Senior Vice President of Legal Department), Christian

Delvois (Director), Marcelo Giugales (Director), Marco Mantovanelli, Gary Reid,

Michael Sarris (Director), Marco Scuriatti, Lorenzo Savorelli

Page 3 résume Elena Panaritis

PUBLICATIONS and ARTICLES

World Bank:

· “At The End of the Beginning: Property Rights Formalization in Emerging Markets” Columbia Business School: The Chazen Web Journal of International Business, with Michael Graglia, 2002

· “Reviving Dead Capital: Institutional Reform and Transactions Costs” with Pedro Belli, 2001

· “Micro-finance of Housing” with Madeleine Klinkhamer, 2000

· Peru – Urban Property Rights Program, World Bank, 1999

· “Property Rights and Market Development” with Carsten Fink, 1999

· “Restrain Arbitrary State Action and Corruption” - Property Rights and Dispute resolution in Peru (contributions to World Development Report, 1997)

· “Security of Ownership: Elements for the Comparison of Two Registry Systems in Peru” with John Mclaughlin, David Palmer, and Geoffrey Shepherd, 1995

· "The Development of Real Property Rights in Peru", with Geoffrey Shepherd, 1995

· "Urban Land Management: taxation and urban zoning - Policy Note", 1994

· "Establishing a Land Market in Peru - formal vs. informal ownership - an Institutional Issue" (in process)

· "Structure and Basic Elements of an Efficient Government", 1995

· "Fenomeno Fujimori: Government Reform though Direct Democracy", 1995

Other:

· “Reviving Dead Capital” 2001 publication under review

· “Do Property Rights Matter?” Global Outlook, Woodrow Wilson International Center for Scholars and HUD, April 2001 – Washington D.C., USA

· “Supply-Side Economic Models (US vs. FRG),” Kerdos, December 1996 - Athens, Greece

· “Thatcher’s Monetary Response 1979-1983,” Express, November 1990 - Athens, Greece

PRESENTATIONS at CONFERENCES and SEMINARS

· “Challenges of Second Generation Reforms,” Harris School of Public Policy Studies, University of Chicago, May 2001

· “Property: Basis of Economic Development,” School of Advanced International Studies-SAIS, April, 2001

· “Peru: Results of the Urban Property Rights Reform – (1997-2000),” World Bank – sponsored by Land and Real Estate Initiative (LARI), The Urban Economics and Strategy Thematic Group, The Services to the Urban Poor Thematic Group, and Cities Alliance, March 2001

· “Research on Changing Development Paradigms in Institutional Reform,” ICC Berlin, Germany, October 2000

· “Application of New Models of Economic Development,” presented at seminar on “Development Practices of International Organizations,” Potsdam University, Germany, June, 1999

· “Property Rights: the Peru Miracle,” presented at a workshop for Rumanian Ministries of Finance and Justice, June 1999

· "Land Tenure and Land Administration Trends - The Peru Story," presented at the International Conference on Land Tenure & Administration with John McLaughlin (Professor of surveying and registration methods at University of New Brunswick,) University of Florida, Orlando, November 1996

· "The Hellenic Cadastre - Project of the European Union – Evaluation," presented at the seminar "The Hellenic Cadastre," Greek Ministry of Public Works - European Union Commission Seven, Athens, Greece, June 1996

· "Property and Development," presented in a series of seminars given in Czech Republic and Germany (Chamber of National Cadastral Engineers of Germany and the Czech Republic, Treuhand, Finance Ministry of the two countries), September 1995

· "Structure and Basic Elements of an Efficient Government," presented at the seminar "Options for Modernizing the State", World Bank - Peruvian Congress, Lima, Peru, June 1995

· "Privatization Strategies – International Expenses” Presented to Peruvian Private Sector Leaders, Ministers of Finance, Privatization and the Congress.

· "Poverty and Culture," The American University, Washington, D.C. February 1995

· "Alternative System for Establishing Property Ownership," presented at GRADE economic institute, Lima, Peru, April 1994

· "Peru: Registro Predial and Property Rights," presented with Geoffrey Shepherd to members of Peruvian Congress Lima, Peru, April 1994

· "Peru: Establishing a Land Market," The World Bank, LA1, Washington, D.C., March 1993.