Andrew Michael Spence


Served as the Chairman of an Independent Commission on Growth in Developing Countries (2006-2010) He is Professor of Economics at the Stern School at NYU, Professor Emeritus of Management and former Dean (1990-1999) in the Graduate School of Business at Stanford University, Senior Fellow of the Hoover Institution at Stanford In 2001, Spence received the Nobel Prize in Economic Sciences. He is the author of the book, “The Next Convergence: The Future of Economic Growth in a Multispeed World,” Ferrar, Straus and Giroux, May 2011.

He is the chairman of the academic council of the Fung Global Institute. Spence serves on the boards of Genpact and Mercadolibre, and a number of private companies. He is a member of the board of the Stanford Management Company, and the International Chamber of Commerce Research Foundation. He is a Senior Advisor to Oak Hill Investment Management and a consultant to PIMCO. Spence was awarded the John Kenneth Galbraith Prize for excellence in teaching and the John Bates Clark medal for a “significant contribution to economic thought and knowledge.” From 1984 to 1990, Spence served as the Dean of the Faculty of Arts and Sciences at Harvard. Spence holds a BA in philosophy from Princeton University (1966), a BA/MA in mathematics from Oxford University (1968), and a PhD in Economics from Harvard University (1972).

By this expert

Escaping the New Normal of Weak Growth

Article | Oct 7, 2016

Eight years after the crisis erupted, what the global economy is experiencing is starting to look less like a slow recovery than like a new low-growth equilibrium. With monetary policy unable to stimulate demand, or even inflation, it’s time for fiscal authorities to relieve the burden on central banks.

Meeting New Challenges in China

Article | Mar 27, 2013

Further system reforms will enable China to overcome middle-income trap and push forward social progress

Featuring this expert


From the Origins of Economic Ideas to the Challenges of Our Time

Event Plenary | Oct 21–23, 2017

INET gathered hundreds of new economic thinkers in Edinburgh to discuss the past, present, and future of the economics profession.

​Why Does Economics Reject New Thinking?

Article | Jul 29, 2016

On George Akerlof’s “The Market for Lemons”

Changing of the Guard

Event Plenary | Apr 4–7, 2013

The Institute for New Economic Thinking held its annual plenary conference in Hong Kong from April 4-7, 2013 at the InterContinental Hotel in Kowloon. The event discussed Asia’s emergence in the global economy and other core issues.

The Next Convergence

Video | Dec 1, 2011

The Future of Economic Growth in a Multispeed World