Curriculum Vitae

Caroline Freund
University of California, San Diego

July 2021
e-mail: clfreund@ucsd.edu

Work Experience
2021-present University of California, San Diego
Dean of the School of Global Policy and Strategy
2018-2021 World Bank, Washington DC
Global Director, Trade, Investment, and Competitiveness, since 2019
Director, Trade, Regional Integration and Investment Climate and Co-Director, World Development
Report 2020, Trading for Development in the Age of GVCs, 2018-2019
2013-2018 Peterson Institute for International Economics, Washington DC
Senior Fellow, International Trade
2002-2013 World Bank, Washington DC
Chief Economist, Middle East and North Africa, 2011-2013
Lead Economist, Development Research Group, International Trade, 2009-2011
Senior Economist, Development Research Group, International Trade, 2002-2009 (On leave at theIMF 2006-2007)
2006-2007 International Monetary Fund, Washington, DC
Senior Economist, Research Department, Trade and Investment Division
1997-2002 Board of Governors of the Federal Reserve System, Washington, DC
Economist, International Finance Division
1988-1990 Peace Corps Volunteer, Ghana, West Africa

Education
Ph.D. Economics, Columbia University, New York, NY 1997
A.B. Mathematics/Economics, Bowdoin College, Brunswick, ME 1988

Journal Articles“The Origins and Dynamics of Export Superstars” (with M.D. Pierola) World Bank Economic
Review, February 2020.
“All in the Family, State Capture in Tunisia” (with B. Rijkers and A Nuncifora), Journal of Development
Economics 124, January 2017.
“Exporter Behavior, Country Size and Stage of Development: Evidence from the Exporter Dynamics
Database” (with M.D. Pierola, A. Fenandes, and T. Cebeci) Journal of Development Economics, March
2016.
“Export Superstars” (with M.D. Pierola) Review of Economics and Statistics, December 2015.
“Deals and Delays” (with B. Rijkers and M. Hallward) World Bank Economic Review, May 2015.
“Episodes of Unemployment Reduction in Rich, Middle-income, and Transition Economies” (with B.
Rijkers) Journal of Comparative Economics, April 2014.
“Which Firms Create the Most Jobs in Developing Countries: Evidence from Tunisia” (with Bob Rijkers,
Hassen Arrouri, and Antonio Nucifora) Labour Economics, December 2014.
“On the Determinants of Democratic Transitions” (with M. Jaud) Middle East Development Journal,March 2013.
“Export Surges” (with M.D. Pierola) Journal of Development Economics, March 2012.
“What Constrains Africa’s Exports?” (with N. Rocha) World Bank Economic Review, lead article 2011,25(3).
“Third Country Effects of Regional Trade Agreements” World Economy, November 2010.
“Regional Trade Agreements” (with Emanuel Ornelas, London School of Economics), Annual Review,August, 2010.
“Trading on Time” (with S. Djankov and C. Pham-Si), Review of Economics and Statistics, February, 2010.
“Does Regionalism Promote External Trade Liberalization Toward Nonmembers?” (with Antoni
Estevedordael, IDB and Emanuel Ornelas, London School of Economics), Quarterly Journal of Economics,
November, 2008.
“Trade Policy and Loss Aversion” (with C. Ozden), American Economic Review 98(4), 2008.
“On the Conservation of Distance in International Trade” (with M. Berthelon) Journal of International
Economics 75, 2008.

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“Trade, Regulations, and Income” (with B. Bolaky) Journal of Development Economics 87, 2008.
“Remittances, Transactions Costs, and Informality” (with N. Spatafora) Journal of Development
Economics 86, June 2008.
“Current Account Adjustment in Industrial Countries,” Journal of International Money and Finance 24,2005.
“On the Effect of the Internet on International Trade,” (with D. Weinhold). Journal of International
Economics 62, 2004.
"An Empirical Investigation of the Internet and International Trade: The Case of Bolivia" (with D.
Weinhold). The Latin American Journal of Economic Development, 2004 (www.iisec.ucb.edu.bo/journal).
“The Internet and International Trade in Services” (with D. Weinhold), American Economic Review,Papers and Proceedings, May 2002.
“New Borders: Evidence from the Former Soviet Union” (with S. Djankov), Weltwirkschaftliches Archiv,
138:3, 2002.
“Trade Flows in the Former Soviet Union: 1989-1996” ( with S. Djankov), Journal of Comparative
Economics, March 2002.
“Different Paths to Free Trade: The Gains from Regionalism,” Quarterly Journal of Economics,
November, 2000.
“Multilateralism and the Endogenous Formation of Preferential Trade Agreements,” Journal ofInternational Economics, December, 2000.
“Public Sector Price Reforms in Transition Economies: Who Gains? Who Loses?” (With C. Wallich)
Economic Development and Cultural Change, October, 1997.
“The Welfare Effects of Raising Household Energy Prices In Poland,” (With C. Wallich) The Energy
Journal, January, 1996.
“Decentralization of Intergovernmental Finance in Transition Economies,” (with R. Bird and C. Wallich)Comparative Economic Studies, Winter, 1994.
Books and Other Publications
WDR2020 Trading for Development in the Age of Global Value Chains, Lead Author, with Pol Antras andAaditya Mattoo
Rich People Poor Countries, Peterson Institute for International Economics, January 2016.
“Rethinking Policies to Reduce Inequality in Advanced Countries” in O. Blanchard and D. Rodrik Eds.,

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Combating Inequality: Rethinking Governments Role. MIT Press, 2021.
“Less Globalization, More Trade”, book Review of Straight Talk on Trade by Dani Rodrik, in Finance andDevelopment, December 2017.
“Tariff Liberalization” Chapter 2 in Assessing the Trans-Pacific Partnership, Volume I, PIIE 2016.
“Other New Areas: Customs Administration and Trade Facilitation, Anticorruption, Small and MediumSized Enterprises, and More” Chapter 5 in Assessing the Trans-Pacific Partnership, Volume I, PIIE 2016
Book Review of The Great Rebalancing by Michael Pettis, in World Trade Review, July 2014.
“Evaluating the Effects of NAFTA” in M.J. Boskin Ed., NAFTA at 20, Hoover Institution Press, 2014.
“Assessing MENA’s Trade Agreements” (with A. Portugal) in M. Gasiorek Ed., The Arab Spring
Implications for Economic Integration, CEPR, Femise, and VoxEU ebook, 2013.
“The Economics of Arab Transitions” (with Carlos Braga) Cesare Merlini and Olivier Roy Editors, The ArabSpring, the Societal Change Behind it and the Options for the West to Respond, Brookings: Washington,DC 2012.
“Regional Integration, Unilateral Liberalization, and the Multilateral Trading System” (with R. Balwin) inJ. Chauffour and J. Maur (Editors ) Preferential Trade Agreement Policies for Development: A Handbook,2011, World Bank Press.
“Adjustment in Global Imbalances and the Future of Trade Growth” in S. Claessens, S. Evenett, and B.
Hoekman Editors, Rebalancing the Global Economy: A Primer for Policymaking. 2010. CEPR and VoxEU.
“The ASEAN Free Trade Agreement: Impact of Intra-Bloc Liberalization on External Trade Flows andExternal Trade Barriers” (with E. Ornelas) in R. Barro and J. Lee Eds. Quantifying the Costs and Benefits ofRegional Economic Integration in Asia, Asia Development Bank, 2010.
“An Anatomy of China’s Export Growth” (with M. Amiti) NBER volume on China’s Growing Role in World
Trade, Edited by Robert Feenstra and Shang-jin Wei, 2010.
“The Trade Response to Global Downturns” in R. Baldwin (Ed.) The Great Trade Collapse: Causes,
Consequences and Prospects, Nov. 27, 2009.
“Third Country Effects of Regional Trade Agreements” in A. Bermann and P. Mavroidis Ed. Preferential
Trade Agreements: A Law & Economics Analysis, Cambridge University Press, 2009.
“The Effect of China and India on Latin American Trade in Services” in D. Lederman, M. Olarreaga, and G.
Perry (Eds.) Latin America and the Caribbean’s Response to Growth in China and India, Washington DC:World Bank, 2009.
“The Effect of China on Latin American Trade in Goods” (with C. Ozden) in D. Lederman, M. Olarreaga,and G. Perry (Eds.) Latin America and the Caribbean’s Response to Growth in China and India,

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Washington DC: World Bank, 2009.
“China’s Export Boom,” (with M. Amiti) Finance and Development 44(3), September 2007.
WTO and Reciprocal Preferential Trade Arrangements. Ed. C. Freund, Edward Elgar Publishers: USA andUK, 2007.
“Current Account Deficits: The Bigger They Are, The Harder They Fall?” (with F. Warnock) in Richard
Clarida Ed. G7 Current Account Imbalances, Sustainability and Adjustment, NBER and University ofChicago: Chicago, 2007.
“The Internet and Evolving Patterns of International Trade” (with D. Weinhold), in Barfield, C., Heiduk,G., Welfens P.J.J., eds. Internet, Economic Growth and Globalisation, Springer: Heidelberg and New
York, 2002.
“Borders, Trade, and Welfare: A Comment,” in Susan Collins and Dani Rodrik Editors Brookings TradeForum, 2001, 2002.
“On the Long-Run Effects of Regional Agreements,” in Jurgen von Hagen and Mika Widgren Editors,Regionalism in Europe, Kluwer Academic Publishers, 2001.
“Decentralizing Fiscal Systems in Transition Economies,” (with R. Bird and C. Wallich ) Finance andDevelopment, September, 1995.

Unpublished Working Papers“Is 3D Printing a Threat to Global Trade? The Trade Effects You Didn’t Hear About” (with A. Mulabdicand M. Ruta) World Bank Working Paper 2019. R&R Journal of International Economics.
“Active Labor Market Policies: Lessons from Other Countries for the United States” (with C. Bown) PIIE
Working Paper, January 2019.
“The Problem of US Labor Force Participation” (with C. Bown) PIIE Working Paper, January 2019.
“Effects of Consumption Taxes on Real Exchange Rates and Trade Balances” (with J. Gagnon), PIIE
Working Paper, April 2017.
“Global Competition and the Rise of China” (with Dario Sidhu), PIIE Working Paper, February 2017“Multinational Investors as Export Superstars: How Emerging-Market Governments Can ReshapeComparative Advantage” PIIE Working Paper, January 2017.
“Regime Change, Democracy and Growth” (with M. Jaud), CEPR Discussion Paper 9282 (2013).
“The Trade Performance of the Middle East and North Africa” (with A. Behar) MENA World Bank

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Working Paper 53, 2011.
“Export Entrepreneurs: Evidence from Peru” (with M.D. Pierola) World Bank Working Paper #5407,
2010.
“Reciprocity in Free Trade Agreements” World Bank Working Paper # 3061, 2003.
“Spaghetti Regionalism,” International Finance Discussion Paper #680, Federal Reserve Board, 2000.

Editorials“Governments Could Bring Supply Chains Home. It Would Defy Economic Rationality” Barron’s, May 1,
2020.
“The US Needs to Invest in Minds, Not Miners”, Bloomberg View, July 6, 2017.
“We Need to Talk about How Female Economists Are Treated”, Teenvogue, September 17, 2017.
“Trump Is Right: 'Border Adjustment' Tax Is Complicated”, Bloomberg View, January 19, 2017.
“The Case for Higher Estate Taxes” Project Syndicate, April 6, 2016.
“When the .00001 Percent Sneeze” Foreign Policy, October 2015.
“Free Trade Makes Cancer Drugs Cheaper” Bloomberg View, February 18, 2015
“To Save Egypt’s Economy, Move Quickly” Bloomberg View, June 30, 2013.
“Where are the Women in Central Banking” Washington Post, September 19, 2013.
“Trading Places” Foreign Policy, February 4, 2014.
“Tunisia’s Golden Age of Crony Capitalism” Washington Post, Monkey Cage, March 27, 2014.

6Referee
American Economic Review, Canadian Journal of Economics, Economic Journal, Economic Inquiry,
European Economic Review, The Energy Journal, International Economic Review, Journal of Comparative
Economics, Journal of Development Economics, Journal of Economic Growth, Journal of Economic
Integration, Journal of the European Economic Association, Journal of International Economics, Journalof International Money and Finance, Review of International Economics, Quarterly Journal of Economics,Review of Economics and Statistics, Review of Economic Studies, World Bank Economic Review, WorldDevelopment, National Science Foundation.
Honors and Boards
Advisory Board 2014-2016: Export-Import Bank of the United States
Editorial Board: Economics and Politics
Scientific Committee: CEPII (Paris) and Economic Research Forum (Cairo).
Member: Center for Economic Policy Research
In top 5% of authors and top 100 female authors (RePec), Columbia University, Doctorate earned withDistinction, 1997; The Energy Journal, Award for Best Paper, 1996; Columbia University, President'sFellow, 1992-1996; Ford Foundation, Travel Grant Recipient, for research in Guatemala, 1993; Honors inEconomics, Bowdoin College, 1988.
Prominent Media Stories on Research Papers
Regarding Rich People Poor Countries and “The Billionaire Characteristics Database”
Wall Street Journal, What Fewer Billionaires Could Mean for the Rest of US, November 20, 2019
Atlantic, Getting to know the World’s Superrich, May 17, 2016.
Financial Times front page, datawatch, May 18 2016.
Financial Times review: Book Review Rich People Poor Countries by Caroline Freund, September
2015.
Financial Times Capital Ideas at a Time of Inequality March 18, 2016.
The Economist, Tycoonomics, April 2, 2016.
Washington Post What Rich Countries Get Wrong About Poverty, March 28 2016.
FT Alphachat: The New Rich of Emerging Markets, March 24, 2016.
ProMarket New Study Finds that Rents Might be Higher in the US than in Europe, June 7, 2016.
Quartz An Economist’s Defense of the World’s Tycoons and the Businesses they Build, June 17
2016.
Bloomberg: Where are the Female Billionaires, August 12, 2014.
Leading foreign language newspapers, including: Australia, China, Germany, India, Korea,
Mexico, and Russia.

Regarding “All in the Family State Capture in Tunisia”
The New York Times, June 25, 2015 “Widespread Graft Benefited Tunisian Leader’s Family, StudySays”
The Financial Times, March 25, 2014 “Former President’s Tunisian Crony Capitalism Laid Bare.”7

Regarding “Export Superstars”
The Washington Post, January 9, 2013 “For Exports, the Spoils Go to the Biggest”
Regarding “Export Surges”
The Economist, October 1, 2009 “Industrial Design”
Regarding “Does Regionalism Promote External Trade Liberalization Toward Nonmembers?”
The Economist, September 5, 2008, “Afta Doha: Should Free Traders Applaud the Rise ofPreferential Deals?”
Regarding work on Trade and the Financial Crisis
The Economist, December 18, 2008 “Barriers to Entry”
Financial Mail, February 27, 2009 “World Trade Crisis Alert”
The Economist, July 24, 2009 “Unpredictable Tides”
Reuters, August 11, 2009 “Will Trade Lead or Lag the Recovery”
Regarding “Current Account Deficits: The Bigger They Are, The Harder They Fall?”Reuters, October 14, 2009 “Dollar faces long journey downward”
Regarding “Current Account Adjustment in Industrialized Countries”
International Herald Tribune, October 2003, IHT news television interview.
Bloomberg, September 26, 2003 “A Big Trade Deficit? Consider the Alternative”
The Economist, September 18, 2003 “The Price of Profligacy”
The Economist, September 18, 2003 “Shrinkproof”
The Economist, February 14, 2002, “Wanted $2 Billion a Day”
Financial Times, March 26, 2002, “Return of the Trade Gap Boogeyman”
Reuters, May 21, 2002, “Bloated U.S. Trade deficit Hurts Dollar”
Wall Street Journal, August 13, 2003, “As U.S. Shows Signs of Strength,
Global Economies Look Up, Too”
Regarding “On the Effect of the Internet on International Trade”
Business Week, March 12, 2001, “Economic Trends”

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