Bêla Balassa

Background

Balassa, Bela was born on April 6, 1928 in Budapest, Hungary. Son of George and Charlotte (Andreics) Balassa. came to the United States, 1957, naturalized, 1962.

Education

Diplomkaufmann, Academy Foreign Trade, Budapest, 1948. Doctor iuris rerumque Politicarum, University Budapest, 1951. Doctor of Philosophy in Economic, Yale, 1959.

Doctorate (honorary), University Paris, 1988. Doctorate (honorary), University Budapest, 1991.

Career

Balassa is best known for his work on the relationship between purchasing power parity and cross-country productivity differences (the Balassa-Samuelson effect). He is also known for his work on revealed comparative advantage. Balassa received a law degree from the University of Budapest.

He left Hungary after the Hungarian Revolution of 1956 and went to Austria.

While there, he received a grant from the Rockefeller Foundation to study at Yale University, where he received Master of Arts Belassa also did extensive consulting work for the World Bank, serving as an advisor about development and trade policy. According to an authoritative history of the Bank, Balassa was "a protagonist of the Bank"s conceptual transformation in the trade-policy area during the 1970s."

Beyond economics, Balassa was a noted gourmet who compiled and periodically updated an unofficial guide to eating well in Paris while remaining within an international agency expense allowance, which circulated among his friends and colleagues.

1962–1967 teaching assistant at Yale University

1966–1991 Professor at Johns Hopkins University

1966– Advisor, the World Bank

1970–1971 editor of Review of Economics and Statistics. Chairman of the Association of Comparative Economics

1979–1980 chairman of the Association of Comparative Economic Studies

1980 Institut de France, Laureate.

Achievements

• Bela Balassa has been listed as a noteworthy Economist, educator by Marquis Who's Who.

Works

More photos

• book

  • New Directions in the World Economy

    (The book attempts to assist policy makers in developing c...)

  • New Directions in the World Economy

    (The book attempts to assist policy makers in developing c...)

  • Theory of Economic Integration

    (First published in 1962, The Theory of Economic Integrati...)

  • The Theory of Economic Integration (Routledge Revivals)

    ( First published in 1962, The Theory of Economic Integra...)

  • Toward Renewed Economic Growth in Latin America

    (Book by Balassa, Bela, Bueno, Gerardo M., Kuczynski, Pedr...)

  • Japan in the World Economy

    (Book by Balassa, Bela, Noland, Marcus)

  • Development Strategies in Semi-Industrial Economies (World Bank) by Professor Bela A. Balassa (1982-05-01)

    (Will be shipped from US. Used books may not include compa...)

  • The Theory of Economic Integration
  • Studies in trade liberalization; Problems and prospects for the industrial countries
  • (Change and Challenge in the World Economy * * ) Author: Bela Balassa Oct-1985
  • Change and Challenge in the World Economy
  • The Theory of Economic Integration (Routledge Revivals) by Bela Balassa (2012-09-30)
  • Trade liberalization among industrial countries: Objectives and alternatives (Council on Foreign Relations. Atlantic policy studies)
  • Economic Development and Integration (Centro de Estudios Monetarios Latinoamericanos. Lectures)
  • The Hungarian experience in economic planning;: A theoretical and empirical study (Yale studies in economics)
  • The Theory of Economic Integration (Routledge Revivals) by Bela Balassa (2012-09-30)
  • Change and Challenge in the World Economy
  • The Newly Industrializing Countries in the World Economy
  • Changing Trade Patterns in Manufactured Goods: An Econometric Investigation (Contributions to Economic Analysis)
  • The Newly Industrializing Countries in the World Economy
  • Development Strategies in Semi-Industrial Economies (World Bank)
  • Japan in the World Economy by Bela Balassa (1988-10-01)
  • Prospects for trade in manufactured goods between industrial and developing countries, 1978-1990 (World Bank reprint series)
  • Policy Reform in Developing Countries (Pergamon international library of science, technology, engineering and social studies)
  • The Structure of Protection in Developing Countries (World Bank)
  • European Economic Integration (Contributions to Economic Analysis)
  • Comparative Advantage: Trade, Policy and Economic Development
  • Comparative Advantage, Trade Policy and Economic Development

Views

Early work concerned the history of economic thought, in particular Karl Marx and J. South. Mill. Introduced concept of success criteria for economic systems, including static efficiency, dynamic efficiency, rate of economic growth, consumer satisfaction, and income distribution. Subsequently suggested methods for measuring dynamic efficiency.

Study on Hungarian planning was followed by work on economic reforms in Hungary and China and comparative investigations of developed, developing, and socialist economies. Book on the theory of economic integration remains standard reference. lieutenant was followed by work on trade liberalisation and on the practical experience of integration schemes.

Introduced new methods to analyse trade creation and trade diversion and investigated the dynamic effects of integration. Contributions to international economics included the development of new concepts, such as the effective rate of protection (simultaneously with H. G. Johnson and West. M. Corden), intraindustry versus inter-industry specialisation, ‘revealed’ comparative advantage, and horizontal versus vertical specialisation, as well as methods of analysis for the practical application of these concepts. Further developed the purchasing power parity doctrine and introduced the ‘stages’ approach to comparative advantage. Work on developing countries centred on policy choices.

I was an early proponent of outwardoriented policies, and introduced new methods of analysis for the study of external shocks and policy responses to these shocks. The application of theoretical principles to practical situations led to advising in a large number of developing countries over the last two decades. Among developed countries, concentrated on the French economy and examined the economic consequence of social policies in Western Europe.

Membership

Member American Economic Association, Econometric Society, Royal Economic Society, Association Comparative Economic Studies (president 1979-1980), Hungarian Academy of Sciences.

Interests

• 110 Economic Growth; Development. And Planning Theory and Practice. 410 International Trade Theory.
  
  420 Trade Relations; Commercial Policy. International Economic Integration.

Connections

Married Carol Ann Levy, June 12, 1960. Children: Mara, Gabor.

Father:

George Balassa

Mother:

Charlotte (Andreics) Balassa

Spouse:

Carol Ann Levy

child:

Gabor Balassa

child:

Mara Balassa