Beatriz Armendáriz is an Associate Professor of Economics at the Department of Economics, University College London. Prior to that, she was a Lecturer in Economics at Harvard, and an Associate Professor at the Massachusetts Institute of Technology (MIT). She is also affiliated to the Centre for European Research in Microfinance (CERMi). Her dissertation on international finance was entirely written at MIT, but she received her PhD in Economics at The School of Advanced Studies in the Social Sciences (EHESS) in Paris.
Most Relevant Research Activity
Beatriz’s research field was initially on international finance. From her 1990 PhD dissertation, she published her first article on international in the Journal of International Economics, "International debt: An explanation of the commercial banks' lending behavior after 1982".
Shortly after, and thanks to her then student, Lamiya Morshed, Beatriz discovered that international finance and microcredit contracts had a common feature, namely, that both contracts were often agreed by lenders and borrowers without explicit collateral. Her research since has focused on microfinance. Beatriz’s first paper on microfinance was published in the Journal of Development Economics, "On the design of a credit agreement with peer monitoring".
This was followed by a series of contributions to the field of microfinance, most notably, her article co-written with Christian Gollier, which appeared in The Economic Journal, "Peer Group Formation in an Adverse Selection Model" and an article co-written with Jonathan Morduch in the Journal of Economics of Transition, "Microfinance Beyond Group Lending".
Beatriz’s research with Jonathan Morduch continued. Their book titled The Economics of Microfinance was first published by MIT Press in 2005, just a year before Muhammad Yunus, the founder of microcredit in Bangladesh, was awarded the Nobel Peace Prize for “creating economic and social development from below”. The Armendáriz – Morduch book was revised, and the second edition of it was published again by MIT Press in 2010.
Armendáriz also co-edited The Handbook of Microfinance with Marc Labie for Word Scientific, and, more recently, she co-authored yet another book for MIT Press in 2017, The Economics of Contemporary Latin American Economy. This book has made Beatriz to reflect on her earlier work on international finance and learn about latest-state-of-the -art topics which are relevant to Latin America and most of the developing world.
- Savings Banks Academic History Award (2nd Prize) – joint with Aaron Graham. World Savings and Retail Banking Institute. Brussels, Belgium. 2019
- Brains Back in Brussels. Academic Award & Research Grant. Solvay Brussels School in Economics and Management, Brussels, Belgium. 2009.
- Fighting Poverty. Academic Award in Philosophy and Poverty. Universidad Iberoamericana, Mexico. 2007.
- Raúl Bailleres Academic Achievement Award for Academic Achievement. Instituto Tecnológico Autónomo de Mexico (ITAM), Mexico, D.F., Mexico. 2006.
The Economics of Contemporary Latin American Economy (with Felipe Larraín B.), Cambridge, MA: MIT Press. 2017
The Handbook of Microfinance (with Marc Labie) Singapore- London: Scientific Word Publishing. 2011
- 2020 “Micro-Savings Through the Lens of UK Savings Banks in 1841” (joint with Aaron Graham), award winning publication by the World Savings Bank Institute, August
- 2014 “Microsavings” (with Estefano Battaggia)
- 2011 “On Mission Drift in Microfinance Institutions” (with Ariane Szafarz) in Beatriz Armendáriz and Marc Labie, eds., The Handbook of Microfinance. London-Singapore: Scientific Word Publishing.
- 2011 “Women and microsavings” in Beatriz Armendáriz and Marc Labie, eds., The Handbook of Microfinance. London-Singapore: Scientific Word Publishing.
- 2009 “Uncovering three microfinance myths: Does age matter?” (joint with Annabel Vanroose), Reflets et perspectives de la vie économique, Tome XLVIII, No 3: pp 7-17.
- 2008 “Gender Empowerment In Microfinance” (joint with Nigel Roome), in Suresh Sundaresan (ed.), Micro-Finance, Investment Trends and Challenges, New York: Edward Elgar Publishing, Ltd.
- 2006 “Microcredit: Is it limited to village economies?” in Telos. Edited by C. Wiplosz
- 2006 “A New Growth Approach to Poverty Reduction” (joint with Philippe Aghion) in Banerjee, Abhijit, Roland Benabou, and Dilip Mookerjee, Understanding Poverty, Oxford University Press.
- 2004 “Microfinance: Where do we stand?" (with Jonathan Morduch) in Charles Goodhart (ed.), Financial Development and Economic Growth: Explaining the Links, London: Macmillan/Palgrave.
- 2000 “Peer Group Formation In An Adverse Selection Model” (with Christian Gollier), The Economic Journal, Vol. 110, No. 465 (July) : 632 – 643.
- 2000 “Microfinance Beyond Group Lending” (with Jonathan Morduch), The Economics of Transition, Vol. 8, No. 2: 401 – 420.
- 1999 “On the Design of a Credit Agreement with Peer Monitoring”, Journal of Development Economics, Vol. 60 (November): 401 – 420.
- 1999 “Development Banking”, Journal of Development Economics, Vol. 58 (February).
- 1999 “Debt Relief, High Growth and Stabilization in Mexico” (with Patricia Armendáriz), Journal of Development Economics, (September).
- 1999 “The World Bank and the Analysis of the International Debt Crisis” (with Francisco Ferreira), in J. Harris, J. Hunter, and C. Lewis (eds.) The New Institutional Economics and Third World Development, New York: Routledge.
- 1993 “The G-7’s Joint and Several Blunder” (with John Williamson), Princeton University Essays in International Finance, No. 189 (April 1993).
- 1993 “Analytical Issues on LDC Debt: A Survey”, The World Economy (July - August).
- 1993 “The Price of Sovereign Bonds, Debt-Export Ratios, and Sovereing Defaults and Rescheduling of Third World Debt: The Case of Mexico”, El Trimestre Económico, Vol LX (1), Num. 237 (January – March) & Journal of Development Economics, 1995
- 1993 “Long-Term Capital Reflow Under Macroeconomic Stabilization in Latin America”, Review d’économie politique, 101 (4), (July – August).
- 1993 “On the Pricing of LDC Debt: An Analysis Based on Historical Evidence from Latin America”, OECD Development Centre Technical Paper No. 52, Paris (February)
- 1990 “International Debt: An Explanation of the Commercial Banks∗ Lending Behavior After 1982”, Journal of International Economics, Vol. 28 (February).
- 1990 “Buybacks of LDC Debt and the Scope for Forgiveness”, OECD Development Centre Technical Paper No. 39, Paris (April)
- 1989 “Foreign Debt Settlements with Several Creditors” Información Comercial Española, Cuadernos Economicos No. 43.
- 1994 Discussion Paper on “Economic Interactions Between Mexico and the US by Jaime Marquez, published in David Vines and David Currie (eds.) North-South Linkages and International Macroeconomic Policies, CEPR, London.
- 1993 Book Review. Economic Theory and Sovereign International Debt by Ernst Mohr, Economica (November 1993)