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Steve H. Hanke is a Senior Fellow, Contributing Editor of The Independent Review, and a Member of the Board of Advisors at the Independent Institute; and Professor of Applied Economics and Founder and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University. He is a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, D.C., a Senior Advisor at the Renmin University of China’s International Monetary Research Institute in Beijing, a Special Counselor to the Center for Financial Stability in New York, a contributing editor at Central Banking in London, and a contributor at National Review. Hanke is also a member of the Charter Council of the Society of Economic Measurement and of Euromoney Country Risk’s Experts Panel.
In the past, Hanke taught economics at the Colorado School of Mines and the University of California, Berkeley. He served as a Member of the Governor’s Council of Economic Advisers in Maryland (1976-77), a Senior Economist on President Reagan’s Council of Economic Advisers (1981-82), and a Senior Advisor to the Joint Economic Committee of the U.S. Congress (1984-88). Hanke served as a State Counselor to both the Republic of Lithuania (1994-96) and the Republic of Montenegro (1999-2003). He was also an Advisor to the Presidents of Bulgaria (1997-2002), Venezuela (1995-96), and Indonesia (1998). He played an important role in establishing new currency regimes in Argentina, Estonia, Bulgaria, Bosnia-Herzegovina, Ecuador, Lithuania, and Montenegro. Prof. He has also held senior appointments in the governments of many other countries, including Albania, Kazakhstan, the United Arab Emirates, and Yugoslavia.
Hanke has been awarded honorary doctorate degrees by the Universidad San Francisco de Quito (2003), the Free University of Tbilisi (2010), Istanbul Kültür University (2012), the Bulgarian Academy of Sciences (2013), Varna Free University (2015), the Universität Liechtenstein (2017), and the D.A. Tsenov Academy of Economics (2018) in recognition of his scholarship on exchange-rate regimes. He is a Distinguished Associate of the International Atlantic Economic Society; a Distinguished Professor at the Universitas Pelita Harapan in Jakarta, Indonesia; a Professor Asociado (the highest honor awarded to international experts of acknowledged competence) at the Universidad del Azuay in Cuenca, Ecuador; a Profesor Visitante at the Universidad Peruana de Ciencias Aplicadas (the UPC’s highest academic honor); and the Gottfried von Haberler Professor at the European Center of Austrian Economics Foundation (ECAEF) in Liechtenstein. In 1998, he was named one of the twenty-five most influential people in the world by World Trade Magazine. In 2020, Hanke was named a “Knight of the Order of the Flag” by Albanian President Ilir Meta.
He is a well-known currency and commodity trader. Currently, he serves as Chairman of the Supervisory Board of Advanced Metallurgical Group N.V. in Amsterdam and Chairman Emeritus of the Friedberg Mercantile Group, Inc., in Toronto. During the 1990s, he served as President of Toronto Trust Argentina in Buenos Aires, the world’s best-performing emerging market mutual fund in 1995.
Books:Russian Currency and Finance: A Currency Board Approach To Reform. London/New York: Routledge, 1993, (with L. Jonung and K. Schuler).
Currency Boards for Developing Countries: A Handbook (Revised Edition 2021). Istanbul, KSP Books, 2021, (with K. Schuler).
Capital Markets and Development, (ed.). San Francisco: Institute for Contemporary Studies Press, 1991, (author of three chapters) (with A. A. Walters).
Currency Boards – Vol.1 Theory and Policy: Download PDF
Currency Boards – Vol.2 Studies on Selected European Countries: Download PDF
The Hong Kong Linked Rate Mechanism: Monetary Lessons for Economic Development: Download PDF
