Journal of Financial and Economic Dynamics (JFED) logo

Journal of Financial and Economic Dynamics (JFED)

Andres A. Escalante

Andres A. Escalante

1878 Amberwood Manor Court, Vienna, VA 22182, USA / +1-703-761-7366
Calle Teniente José Romanet 135, Dpto. 132, San Isidro, Lima 27, Peru / +51-989-131-1480
Email:andres.escalante@upc.pe

EDUCATION

Ph.D. in Economics – American University - Washington, D.C. - May 1997

  • Doctoral Dissertation: Microeconometric Evaluation of Natural Resource Scarcity under Restricted Cost Minimization Theory: Sensitivity, Theoretical Consistency, and Structural Dynamics. (Published. University of Michigan Press, 1997)
  • Academic Fields: Applied Econometrics, Mathematical Economics, and International Finance.
  • Cum laude, eq.

M.A. in Development Banking - American University - Washington, D.C. - May 1989

  • Academic Track: International Finance.
  • Cum laude, eq.

B.A. in Economic Theory - American University - Washington, D.C. - August 1987

RECENT WORK EXPERIENCE

Current Employment

04/01/2013 – Present: Universidad Peruana de Ciencias Aplicadas (UPC) – Lima, Peru

Chairman of the Finance Department.- runs an academic department with an administrative staff of 13 people and more than 180 full and part-time faculty members responsible for three undergraduate programs: i) Business Management and Finance (BMF): 800 students; ii) Business Administration: 1,726 students (professional education for working adults); and iii) Banking and Financial Management: 431 students (professional education for working adults). Responsible for the latter two programs since July 2017. Data 2023.

Director of the Business Administration Academic Area.- responsible for the overall management of the university’s third cross-disciplinary academic area, which is tasked with developing and teaching management, economic, and finance courses across all undergraduate programs of the university (68,000 undergraduate students, including professional education for working adults).

Principal Achievements: i) International Conference on Global Management (2014): 10 annual editions; ii) UPC Review of Global Management (2015): biannual publications and indexed at Latindex 2.0 Catalogue (2020); iii) academic curricula reform (2015 and 2024): 18 new or enhanced core courses with an emphasis on global management, conscious capitalism, finance and quantitative methods, artificial intelligence, humanities; iv) four minors (2022): world capital markets, business economics, philosophy, globalization; v) three signature courses (2022-2025: pension finance (cotaught with AFP Integra/SURA), portfolio management (cotaught with Credicorp Capital), and venture finance (cotaught with University of Kentucky-Gatton); vi) key rate indicators (2024): student enrollment in BMF (12%); alumni employment (100%); retention (82%), graduation within five years (25%), attrition (14%).

Recent Employment History

09/01/2012 – 12/31/13: Economic Integration Forum (EIF), Inc. – Lewis, DE, USA

Economic and Regulatory Policy Advisor.- Advised international clients on economic and regulatory policy issues relevant to telecommunications and other industries of public interest, such as market reform, legislation adequacy, competition, and institutional strengthening.
Consulting work performed at EIF:

  • 11/01/2012 – 11/09/2013: Ministry of Communications and Information Technologies – Baku, Azerbaijan.
  • 09/01/2012 – 11/30/2012: Ministry of Communications and Information Technologies – Kabul, Afghanistan.

08/24/2012 – 03/03/2013: United Nations´ Economic Commission for Latin America – Santiago, Chile

Consultant.- Analyzed the economic impact of fiscal policy reform on income distribution in Peru over the last 20 years.

08/01/2011 – 05/31/2012: Constructora Herreña Fronpeca Sucursal Perú – Lima, Peru

Financial Manager.- Responsible for the financial management of local operations, worth over US$30 million, of Constructora Herreña Fronpeca—a thirty year old civil engineering firm, headquartered in El Hierro, Spain, with business interests in Peru since 2011.

01/28/2011 – 02/092/2012: ProInversión´s Committee on Public Sector Assets, Estates, and Other Government Projects (ProValor) – Lima, Peru.

President.- Promoted private investments on public sector assets, property, and other government projects. ProValor´s President is appointed by the Minister of Economy and Finance, who is by Law ProInversión´s Chairman of the Board of Directors.
Principal Achievements: i) adjudication of three government-owned hotels in the cities of Huaraz and Iquitos for US$2.3 million on 07/07/2011; ii) adjudication of all government-owned shares at the Consorcio Hotelero del Norte S.A. (1,836,890 shares of stock - 13.12% of its share capital), to its private shareholders via their right of first refusal, for approximately US$1 million on 07/13/2011; and iii) adjudication to Compañía Minera Milpo S.A.A. of all five mining concessions conforming the Magistral Mining Project of copper and molybdenum, for US$8.02 million, on April 2011.

09/01/2011 – 02/08/2011: General Directorate of Public Income Policy (DGPIP) of the Ministry of Economy and Finance – Lima, Peru.

General Director.- Responsible for this general directorate in charge of evaluating, formulating, and proposing: i) tax policy to simplify, restructure, and optimize the tax system, and to improve tax collection efforts of the central and sub-national governments; ii) Non-tax public income policy from natural resource exploitation, and sub-national government tax policy. This, principally through: i) formulation and assessment of norms and measures on tax and non-tax public income policy implementation; ii) international agreements and treaty negotiations on taxation; iii) administration of tax stability contracts, as well as public and/or private initiatives, subscribed by the government, on tax issues; and iv) applied research for tax policymaking.
Principal Achievements: i) reorganization of DGPIP into four new offices, with an aggregate staff of thirty-five (Ministerial Resolution №223—2011-EF/43), and an annual budget of over S/.2 million for 2011; ii) Law №29666 (02-20-2011): reduced the general sales tax from 19% to 18%; iii) Law №29667 (04-01-2011): reduced the financial transactions tax from 0.05% to 0.005% for every S/.1,000; iv) Supreme Decree №097-2011-EF (06-08-2011): reduced the excise tax on fuel; v) nine rounds of bilateral negotiations on double taxation and tax evasion agreements with Spain, United Kingdom, Mexico (agreement subscribed), South Korea (agreement subscribed), Singapore, France, Switzerland (agreement subscribed), and Portugal; vi) Supreme Decree №099-2011-EF (06-09-2011): general sales tax exemption on financial interests generated by debt securities registered at the Lima and foreign stock exchanges; vii) Refunded US$2 billion under the General Sales Tax Early Recovery Regime; viii) Law №29663 (02-15-2011): modified the Income Tax Law in order to include as rents of Peruvian source those from direct and indirect sales of stock of Peruvian companies; ix) Supreme Decree №155-2011-EF (07-27-2011): regulated the refund of improper or excessive tax debts administered by the Peruvian Internal Revenue Service (SUNAT); x) Supreme Decree №136-2011-EF (07-09-2011): modified the regulation of the Income Tax Law, that norms the modifications established by Law №29645 (12-31-2010)—a law that modified the income tax in order to unify the aliquots on passive rents, and incorporated the Central Agency of Securities and Liquidations (CAVALI) as a withholding agent.

FORMER WORK EXPERIENCE

Telecommunications Consulting

2001-2009: Strategic Policy Research, Inc. – Bethesda, MD, USA

Regulatory Economist & Strategic Advisor.- Advised international clients on ICT economic and regulatory policy issues involving but not limited to sector liberalization (e.g., market reform, privatizations, revenue and investment requirements, asset valuation, rules and regulations, institutional strengthening), competition policy (e.g., industrial organization, market power, market access), pricing policy (economic costs, interconnection, tariff regimes, strategic planning), and demand analysis.

Key consultancies:

  • 2005-2009: Ministry of Communications and Information Technologies (MCIT)– Baku, Azerbaijan
    Developed and implemented the ICT sector liberalization plan, including the institutional strengthening process required to pursue it at least cost.
    Key Responsibilities: i) assessment of legal and regulatory viability for market reform; ii) economic analysis of ICT market structure; iii) assessment of market conditions for establishing free and fair competition iv) assessment of the institutional disposition for market reform; v) network readiness analysis; and vi) development of any other economic, institutional and regulatory analysis required for formulating and implementing market reform; vii) permanent advising.
    Key Products: i) economic and regulatory guidelines on sector liberalization and free and fair competition; ii) cost-benefit analysis on the establishment of an independent regulatory agency; iii) recommendations on institutional reform for a) separating regulatory functions between MCIT and an independent regulatory authority; b) MCIT restructuring; c) monopoly privatization and state participation reduction in sector; iv) sector liberalization roadmap; and v) progress reports.
  • 2004-2005: Public Service Regulatory Agency – Panama, Panama
    Developed a multidisciplinary feasibility study on digital standards for television and radio broadcasting in Panama. This study established the bases for adopting formally the European Standard—i.e., Digital Video Broadcasting/Terrestrial (DVB/T).
  • 2003-2004: Ministry of Information and Communications Technologies – Amman, Jordan
    Developed the engineering, economic, financial, regulatory, risk, and environmental feasibility analyses of the liberalization plan for the ICT sector in Jordan.
  • 2003: National Telecommunications Commission – Caracas, Venezuela
    Developed a new tariff regime and a cost estimation methodology for network interconnection services in Venezuela.
  • 2001: National Secretariat for the Reform of the State – Asuncion, Paraguay
    Assisted the national government in developing the strategy for the liberalization of the telecommunications sector.

2005: Estudio Rodríguez Larraín S.C.R.L. – Lima, Peru

Telecommunications and Regulatory Economist of an independent consulting team put forth by this local, prestigious law firm requiring advise on the economics and regulation of telecommunications value-added services (VAS) as part of its efforts to represent the economic interests of Cellenium S.A.C.--a local VAS provider--before Telecom Italia Mobile (TIM Perú) in a US$3.6 million arbitrage case at the Lima Chamber of Commerce.

2002-2005: Kema Consulting, Inc. – Santo Domingo, Dominican Republic

Economic and Regulatory Advisor to the Corporación Dominicana de Empresas Eléctricas Estatales (CDEEE) of the Dominican Republic, responsible for the economic and regulatory analyses of a multidisciplinary effort to assess the feasibility to develop, operate, and maintain a fiber optic network of public or mixed ownership along the national electric transmission system with which to provide the CDEEE with ICT resources for both internal and commercial uses.
Formulated the technical, economic, and legal terms in which the CDEEE adjudicated the right to usufruct the infrastructure of the national electric transmission system to private firms to construct, operate, and maintain one or more fiber optic networks for the purpose of providing public and private ICT services commercially.

1999-2002: Epsilon Group S.C.R.L. – Lima, Peru

Principal Economist.- Advised private sector firms, regulatory agencies, and government entities, as well as international financial institutions, on economic, financial, and regulatory issues related principally to telecommunications and information technology.

A list of key consulting projects follows:

  • 2002: National Telecommunications Commission – Asuncion, Paraguay
    Elaborated the new tariff regime and its associated rules and regulations; enhanced the (then) current interconnection rules and regulations; and estimated referential interconnection rates between the fixed and mobile telecommunications networks.
  • 2001: Nextel del Perú S.A. – Lima, Peru
    Developed an interactive computer program that allowed the firm to both, estimate and forecast residential demand for mobile telecommunications in Peru for 2000-2005, and pursue simulation and sensitivity analyses for strategic behavior and commercial expansion policy formulation. A semi-parametric demand model was used to estimate the demand, using statistical and econometric methods.
  • 1999: Nazcanet S.A.C. - Lima, Peru
    Advised the executive authorities of this local ICT company on financial, managerial, and marketing issues (e.g., investments, budgeting, cost management, pricing, market penetration and competition, strategic alliances, identification of consumer needs and product value), related to their desire for both incrementing the market value and attracting venture capital.
  • 1999: Congress of the Republic – Lima, Peru
    Analyzed the economics of three pieces of legislation on e-commerce proposed by the (then) Commission for the Reform of Codes of Congress. This legislation addressed electronic contracts (P.L.5010/99-CR), digital signatures (P.L.5070/99-CR), and electronic delinquency (P.L.5071/99-CR), and became law 27269 in May 2000.

1998-1999: Supervising Agency for Private Investments in Telecommunications – Lima, Peru

Economist.– Responsible for applied economic analysis and econometric research at the Department of Regulatory Policies and Strategic Planning, required for formulating guidelines, regulations, and regulatory policy on market competition (e.g., fixed-line, long distance, and wireless communications services), incentive regulation (e.g., price caps for fixed-line telephony, total factor productivity, efficiency), price indices, tariff regimes, and rate structures (e.g., price indexes for local and long-distance access services, fixed-mobile telecommunication rates, interconnection rates, calling-party pays program for radio-based communications), carrier pre-subscription for long-distance services, number portability, and information technology (e.g., internet security, pricing, demand, e-commerce).
Team leader and principal researcher of the following two key projects of the Department of Consumer Affairs: i) the first national survey on residential end-user needs and expectations concerning fixed-line telecommunications services; and ii) an econometric study using simulated statistical data to predict the probability of formulating and registering a complaint before the regulatory body by residential end users under asymmetric information.

Energy Consulting

2009 (complete): Gaz de France-Suez – Lima, Peru

Strategic Advisor to Suez Energy Perú—the local subsidiary of Gaz de France-Suez and principal shareholder of EnerSur S.A.A. and other electric energy generating companies locally--responsible for economic and political intelligence on the natural gas industry in Peru.
Key tasks/Achievements: i) political analysis of market development; ii) perspective analysis on exploration and exploitation, including distribution, transportation, and exportation to foreign markets; iii) tariff regimes and price tendency estimation; iv) permanent dialogue with opinion leaders and stakeholders—particularly with regional government and native community leaders within the project zones of influence—on project costs and benefits; v) value assessment of anything published or aired relevant to natural gas; vi) analysis of economic, social, legal, and regulatory risks and issues to which the firm could be exposed in its pursuit of energy projects—e.g., acquisition of 50% of the rights of Central Hidroeléctrica Acco Pucará, a hydroelectric energy plant with an installed capacity of 213 MW per annum and an approximate investment of US$292 million until operations started in 2011; vii) strategic recommendations on how to deal with political, economic, and social risks and issues directly related to these projects.

2004: Estudio Rodríguez Larraín S.C.R.L. – Lima, Peru

Principal Economist of the consulting team put forth by this law firm and responsible for developing the legal and regulatory public due diligence on the Peruvian electric energy generating and distribution companies, Luz del Sur S.A.A., and ElectroAndes S.A., respectively, required by Exelon Corporation, Inc., as part of its pursuit to acquire PSEG Global, Inc., for US$12.8 billion.

2001: National Institute for the Defense of Competition and Protection of Intelectual Property (INDECOPI) – Lima, Peru

Analyzed the impact on the energy sector competition of the acquisition of ElectroAndes S.A., a hydroelectric generating company, through vertical and horizontal integration operations, by competing incumbent electric utilities. This analysis was used by INDECOPI´s Free Competition Committee to take a stand on this acquisition under either scenario, a necessary condition for the National Commission for Privatizations to complete the privatization of ElectroAndes S.A. This privatization amounted to $220 million worth of revenues for the Peruvian government.

1995-1998: Exeter Associates, Inc. – Silver Spring, MD, USA

Economist.- Advised energy sector clients on economic and financial issues regarding competition, industry restructuring, and regulatory policy. Addressed client concerns on issues such as linear and non-linear pricing, cost-based tariffs, power supply options, rate design, revenue and investment requirements, economic and financial feasibility, cost of service, demand, market power, market access, cogeneration economics, and environmental policy under alternative regulatory frameworks.

Developed several electric load and peak-demand econometric forecast and simulation studies.
Testified as an expert witness on methodological issues concerning applied econometric forecasting.

Key consulting work performed at Exeter Associates, Inc.:

  • 1998: Department of the Air Force of the United States – Washington, D.C., USA
    Analyzed the costs and benefits of the demand-side management-based energy conservation measures proposed by the Department of the Air Force for its military bases in Nevada.
  • 1998: Department of Energy of the United States – Washington, D.C., USA
    Developed electric energy linear (e.g., marginal cost-based and Ramsey pricing), and non-linear tariff regimes (e.g., two-part tariffs) of hypothetically efficient firms under alternative regulatory environments and competition levels.
  • 1997: Public Utilities Commission of the State of Maine – Augusta, ME, USA
    Estimated and forecasted electric energy sales and power of the Bangor Hydroelectric Company in order to provide the regulatory authorities of Maine information on long-term electric energy demand with which to process rate cases relating to this company.
    Expert witness before the courts of Maine on the use of econometric methods to estimate and forecast the demand for electric energy.
  • 1995-1998: Department of Natural Resources of the State of Maryland – Annapolis, MD, USA
    As part of the Power Plant Research Program:
    (1998) Analyzed the long-term historical growth of the demand for electric energy in Maryland; projected the tendency of its drivers; and analyzed the effects of proposed state regulatory policy on the levels of competition in the electric sector of Maryland.
    (1997) Developed an economic analysis on energy cogeneration at the penitentiaries of Maryland.
    (1997) Econometrically estimated and forecasted electric energy sales and power of the Delmarva Power & Light Company and the Potomac Electric Power Company in order to provide the Maryland regulatory authorities information on long-term electric energy demand with which to process rate cases related to these companies.
    (1997) Expert witness before the courts of the State of Maryland on the use of econometric methods to estimate and forecast the demand for electric energy.
    (1997) Researched business restructuring within the electric energy sector in terms of the pros and cons of vertical and horizontal integration.
    (1996) Econometrically estimated and forecasted electric energy sales and power of the Delmarva Power & Light Company in order to provide the Maryland regulatory authorities information on long-term electric energy demand with which to process rate cases related to this company.
    (1995) Econometrically estimated and forecasted electric energy sales and power of the Baltimore Gas & Electric Company in order to provide the Maryland regulatory authorities with information on long-term electric energy demand with which to process rate cases related to this company.

Additional Consulting

2010: Supervising Agency for Government Procurement Activity– Lima, Peru

Determined the model, criteria, and economic factors for evaluating price adjustment requests of the 441 office and cleaning supplies consigned electronically within general provision agreements to the Peruvian government.

2005: Inversiones VEL S.A.C. – Lima, Peru

Developed the economic feasibility and financial analyses of its US$8.5 million multifamily dwell construction and real estate project under the “Mi Vivienda” Program of the Peruvian Ministry of Housing and Construction. Advised corporate officers of this construction company on their negotiations to raise investment capital for project financing.

2002: Grupo E. Wong S.A. – Lima, Peru

Epsilon Group S.C.R.L. consulting team member responsible for structuring and negotiating on behalf of this client the terms and conditions of an international contract of subordinated credit and the transfer of shares worth approximately US$20 million.

2000-2001: Inter-American Development Bank (IDB) – Washington, D.C., USA

Economist.- Collaborated with IDB executives in various projects on public finance and institutional reform.
(2001) Developed an econometric probability model to estimate the odds of provincial and district governments of being institutionally weak, in order to identify key variables that affect public sector institutional capacity for policymaking purposes. This model and its estimation were part of a proposal on government decentralization and public sector reform presented to the Presidency of the Council of Ministers of the Peruvian Government and put forth by a joint effort between the IDB and the Universidad del Pacífico.
(2000) Part of the IDB consulting team responsible for analyzing the feasibility of various institutional reform proposals of the Municipality of the District of Bogota (Colombia) aimed at improving its provision of public services in terms of efficiency, efficacy and sensitivity to citizen preferences. These proposals involved the reorganization of institutions in key areas, such as social and civil services, human capital, culture, internal revenue service, public financial management, housing, transportation, environment, public safety, and infrastructure.
(2000) Developed for the RE1/OD1 Country Division executives of the IDB two macro-econometric consistency models that quantify the effects of changes in economic policy variables on national accounts in terms of which the IDB could assess its lending and exposure in Paraguay and Uruguay.
(2000) Developed for the authorities of the RE1/OD1 Country Division of the IDB a battery of statistical and econometric analyses with which to evaluate the macroeconomic effects of capital flows into and out of Peru in the 1990s.

1993: World Bank – Washington, D.C., USA

Developed for the Latin American and the Caribbean Department its database for and the econometric analysis of two internal research documents on the prospects for Caribbean banana and sugar production and trade in a changing market environment. These documents were developed to assess costs and benefits of European Union agricultural policy reforms involving trade with Caribbean nations.

Business Management

2005-2010: Regional de Alimentos S.A.C. – Lima, Peru
Chief Executive Officer.- responsible for the general direction and financial wellbeing of this Peruvian private agro-industrial small firm according to its corporate mission, values, and guidelines, as established by its Board Members on behalf of its shareholders and employees.
Key Achievements: i) Approximately S/.5 million in sales in 2010; ii) Net profits for the third consecutive year; iii) 20% growth rate of net investment in 2010; iv) developed good manufacturing practices and derived customer satisfaction from product value and commercialization under strict service standards; v) increased product number and their commercial applications in order to penetrate more and larger markets; vi) providers to the Central Government for five consecutive years.

HONORS

  • 2025: President of the Commission for the Supervision of Unfair Competition, for the period11/4/23-31/10/28, as recorded in the Minutes of the ordinary session of the Commission for the Supervision of Unfair Competition, of INDECOPI, held on November 4, 2024, Lima, Peru.
  • 2025: Recognition for his outstanding professional and academic career, which excellently reflects the values and education from the foreign universities where he obtained prestigious academic degrees, and for his willingness to contribute to the academic strengthening of the UNSCH, by providing support, experience, and commitment to the new generations of students. Awarded by the School of Economic, Administrative, and Accounting Sciences of the Universidad Nacional San Cristóbal de Huamanga. Ayacucho, Peru: June 24, 2025.
  • 2025: Recognition as international entrepreneur of the year 2025, for his brilliant business, academic, and financial career; for his consulting work with public and private entities, both nationally and internationally; and for his recognized work as a university professor for three decades. Awarded by the International Chamber of Commerce for Entrepreneurs (IECCUS). Miami, FL, United States: March 28, 2025.
  • 2023: Vice President of the Commission for the Supervision of Unfair Competition, for the period 10/31/23-31/10/28, as recorded in the Minutes of the ordinary session of the Commission for the Supervision of Unfair Competition, of INDECOPI, held on October 31, 2023, Lima, Peru.
  • 2023: Expression of recognition and gratitude for the support provided to improve lighting in the town of Paucartambo, as stated in Mayor's Resolution №374-2023-A-MPP-C. Provincial Municipality of Paucartambo, Paucartambo, Cuzco, August 31, 2023.
  • 2023: Service Award for 10 five years of professional commitment to the Universidad Peruana de Ciencias Aplicadas. Lima, Peru.
  • 2022: Expression of recognition and congratulations for the contribution to improving the lighting of streets and squares in the city of Quillabamba and districts of the province of La Convencion, as stated in Mayor's Resolution ﱠ№454-2022-MPLC/A. Provincial Municipality of La Convencion, Quillabamba, Cuzco, Peru, July 21, 2022.
  • 2022: “District Medal”, for the invaluable work in the electrification of the towns of deeper Peru. District Municipality of San Jerónimo, Cuzco, Peru, May 23, 2022.
  • 2022: Expression of recognition and congratulations for the completion of the project “Improvement of the Lighting Level of Public Lighting from the Larapa Urbanization to the San Jerónimo Police Station”, as stated in Mayor's Resolution ﱠ№428-2022-MDSJ/C. District Municipality of San Jerónimo, Cuzco, Peru, May 23, 2022.
  • 2018: Gratitude in merit of his participation as a speaker for the 41st institutional anniversary of the School of Economic, Administrative and Accounting Sciences of the Universidad Nacional San Cristóbal de Huamanga. Ayacucho, Peru, October 24, 2018.
  • 2018: Service Award for five years of professional commitment to the Universidad Peruana de Ciencias Aplicadas, Lima, Peru.
  • 2018: “Orgullo UPC” Award for research. Universidad Peruana de Ciencias Aplicadas, Lima, Peru.
  • 2017: National Secretary of Government Planning, Christian Popular Party, Lima, Peru.
  • 2016: The School of Business Award for valuable contributions to research via the UPC academic periodical "Review of Global Management". Universidad Peruana de Ciencias Aplicadas, Lima, Peru.
  • 2013: recipient of the II UPC Research Fund Program Award. Lima, Peru.
  • 2010: Service Award for five years of professional commitment to Regional de Alimentos S.A.C. Lima, Peru.
  • 2005: Recipient of the 2004 Academic Year Best Professor Award of the Department of Economics at the Universidad Peruana de Ciencias Aplicadas: Lima, Peru.
  • 1990-1992: Economics Department Fellow at American University. Washington, D.C., USA.
  • 1987-1990: Hall of Nations Scholar at American University. Washington, D.C., USA.

BOARD MEMBER, COMMISSIONS, AND COMMITTEES

  • 09/04/19 – Present: Board Member of the Empresa de Distribución del Sur Este S.A.A. (Electrosur Este), as registered in Board Agreement №001-2019/005-FONAFE.
  • 6/02/2019 – 9/04/19: Board Board Member of the Empresa de Generación Eléctrica de Arequipa S.A. (EGASA), as registered in Board Agreement №001-2019/002-FONAFE.
  • 26/09/2018 - Present: Member of the Commission for the Supervision of Unfair Competition of the National Institute for the Defense of Competition and Intellectual Property (INDECOPI), as stated in Resolution №168-2018-INDECOPI/COD, and Resolution №000090-2023-PRE/INDECOPI.
  • 2015 - Present: Editor- in-Chief and President of the International Editorial Committee of the UPC Review of Global Management.
  • 2015 - 2017: Member of the Board of Advisors to the Instituto Peruano de Economía Social de Mercado (Konrad Adenauer Stiftung, Germany).
  • 2011: Two-time member of the Commission of the Presidency of the Council of Ministers to select two board members for the Agency for Private Investments in Telecommunications (OSIPTEL), as issued in Ministerial Resolutions №115-2011-PCM and №038-2011-PCM. Lima, Peru.
  • 2007-2008: Member of the Department of Economics Council of Advisors on its Economics and International Business Track at the Universidad Peruana de Ciencias Aplicadas: Lima, Peru.

RESEARCH OUTPUT

  • Research as a Foundation for Knowledge, Editor´s Note, Review of Global Management, V.8, №1. Lima: UPC (2022). (In Spanish.)
  • Business within the Framework of Artificial Intelligence, Editor´s Note, Review of Global Management, V.7, №2. Lima: UPC (2021). (In Spanish.)
  • Fore, Editor´s Note, Review of Global Management, V.7, №1. Lima: UPC (2021). (In Spanish.)
  • Resilience and Change, Editor´s Note, Review of Global Management, V.6, №1. Lima: UPC (2020). (In Spanish.)
  • Conscious Capitalism, Article published by the International Cooperation Office of the Congress of the Republic of Peru, October 5th 2020. http://www.congreso.gob.pe/OCI/articulos_de_interes/ (In Spanish.)
  • Ad astra per aspera, Editor´s Note, Review of Global Management, V.6, №1. Lima: UPC (2020). (In Spanish).
  • There is no Bad Fifth, Editor´s Note, Review of Global Management, V.5, №2. Lima: UPC (2019). (In Spanish.)
  • The Value of a Firm Purpose, Editor´s Note, Review of Global Management, V.5, №2. Lima: UPC (2019). (In Spanish.)
  • Continuity and Validity, Editor´s Note, Review of Global Management, V.4, №2. Lima: UPC (2018) (In Spanish).
  • The Challenge of the New Multidimensional Business Culture, Gestion.pe, November 28th, 2019. (https://gestion.pe/opinion/el-desafio-de-una-nueva-cultura-empresarial-multidimensional-noticia/) (In Spanish.)
  • The Mora Law, in Is there University Autonomy? Antero Flores-Aráoz, editor. Lima: Editorial Universitaria/Universidad Ricardo Palma (2017) (In Spanish).
  • Microeconometric Modeling of Rent as a Measure of Natural Resource Scarcity: Regularity and Technical Change, Scale, and Functional Form Sensitivity under Partial Static Equilibrium. Review of Global Management, V.2, №1. Lima: Facultad de Negocios, UPC (June 2016).
  • The Welfare State and the International Financial Crisis. UPC Review of Global Management, V.1, №1 (November 2015). (In Spanish.)
  • The Impact of Recent Fiscal Policy Reform on Income Distribution: the Case of Peru, Macroeconomics of Development, №135. Santiago, Chile: Economic Commission for Latin America and the Caribbean, United Nations, September, 2013. (In Spanish.)
  • Around 140 short economic articles published weekly in the Peruvian daily Expreso (www.expreso.com.pe), April 2012 – February 2015. (In Spanish.)
  • Telecommunications Legislation in Azerbaijan: WTO Reference Paper Consistency Analysis and Conceptual and Legal Recommendations for its Compliance. Research document prepared for USAID, as part of the Azerbaijan Competitiveness and Trade Project (ACT), and presented before the Ministry of Communications and Information Technologies (MCIT). Baku: USAID/MCIT, March 2013. (Contract: Sibley International, Inc./USAID-Government of the Republic of Azerbaijan №AID-EEMM-I-00-07-00003-00).
  • Telecommunications Legislation in Afghanistan: WTO Reference Paper Consistency Analysis and Conceptual and Legal Recommendations for its Compliance. Research document prepared for USAID, as part of the Trade Accession Facilitation for Afghanistan Project (TAFA), and presented before the Ministry of Communications and Information Technologies (MCIT). Kabul: USAID/MCIT, November 2012. (Contract: Chemonics International, Inc./USAID-Government of the Islamic Republic of Afghanistan №306-C-00-09-00529-00).
  • Determination of Economic Modeling and Criteria for Evaluating Price Adjustment Requests on the Office and Cleaning Supply Agreements (in Spanish). Research document presented to the Supervising Agency of Government Procurement Activity (OSCE). Lima, Peru: OSCE, December 2010. (Contract №050-2010-OSCE)
  • Technical Assistance for the Strategic Restructuring of the Communications and Information Technologies Sector of Azerbaijan: Economic, Legal, Technical and Institutional Analysis and Recommendations for Structural Reform. Research document written for Strategic Policy Research, Inc. (SPRI) and Alliance Law Group, LLC. (ALG), and presented before the Ministry of Communications and Information Technologies (MCIT) of Azerbaijan. Baku, Azerbaijan: MCIT, December 2009. (Contract SPRI/ALG/USTDA–Government of the Azerbaijan Republic.)
  • Technical Assistance for Digital Television and Radio Broadcasting Standards in Panama. Research Document written for Strategic Policy Research, Inc. (SPRI) and presented before the National Authority of Public Services of Panama (ANSP). Panama City, Panama: ANSP, June 2006. (Contract SPRI/USTDA – Government of the Republic of Panama.)
  • What is the Role of Prices in our Market Economy? Department of Economics Newsletter, №3. Lima, Peru: Department of Economics of the Universidad Peruana de Ciencias Aplicadas, July 2005. (In Spanish.)
  • Risk Analysis of Investing in the Fixed-Line Telecommunications Service Markets in Jordan upon Liberalization, in Fixed-Line Telecommunications Service Market Liberalization: A Multidisciplinary Technical Assistance to the Ministry of Information and Communications Technology. Research document written for Strategic Policy Research, Inc. (SPRI) and presented before the Ministry of Information and Communications Technology (MoICT) of Jordan. Amman: MoICT, December 2003. (Contract SPRI/USTDA - Government of the Hashemite Kingdom of Jordan.)
  • Economic Assessment of the Fixed-Line Telecommunications Service Market Liberalization and Broadband Demand in Jordan, in Fixed-Line Telecommunications Service Market Liberalization: A Multidisciplinary Technical Assistance to the Ministry of Information and Communications Technology. Research document written for Strategic Policy Research, Inc. (SPRI), and presented before the Ministry of Information and Communications Technology (MoICT) of Jordan. Amman: MoICT, December 2003. (Contract SPRI/USTDA - Government of the Hashemite Kingdom of Jordan.)
  • Legal and Regulatory Viability to Commercialize the Fiber Optic Network of the Dominican Electricity Corporation through a Special Purpose Company, in Feasibility Study on the Commercialization of the Fiber Optic Network of the Dominican Electricity Corporation: An Economic, Technical, Legal, and Business Analysis. Research document prepared for Kema Consulting, Inc., and submitted to the Dominican Electricity Corporation. Santo Domingo, Dominican Republic: CDE, December 2002. (Contract Kema Consulting, Inc./USTDA - Government of the Dominican Republic.)
  • Economic Analysis of the Commercialization of the Fiber Optic Network of the Dominican Electricity Corporation through a Special Purpose Company, in Feasibility Study on the Commercialization of the Fiber Optic Network of the Dominican Electricity Corporation: An Economic, Technical, Legal, and Business Analysis. Research document prepared for Kema Consulting, Inc., and submitted to the Dominican Electricity Corporation. Santo Domingo, Dominican Republic: CDE, December 2002. (Contract Kema Consulting, Inc./USTDA - Government of the Dominican Republic.)
  • Interconnection Costs between Telephone Networks in Venezuela: Estimation and Analysis (in Spanish). Research document written for Strategic Policy Research, Inc. (SPRI), and presented before the National Telecommunications Commission of Venezuela (CONATEL). Caracas, Venezuela: CONATEL, April 2003. (Contract SPRI/USTDA – Government of Venezuela.)
  • Tariff General Regulation: Development of the Tariff General Regulation, Modifications to the Interconnection Regulation, and Referential Interconnection Rate Estimation (in Spanish). Research document prepared for the General Secretariat of the National Commission of Telecommunications (CONATEL) of Paraguay. Asuncion, Paraguay: CONATEL, April 2002. (Contract CONATEL-Epsilon Group S.C.R.L.)
  • An approximation of the Demand of the Target Audience of Nextel del Perú for the Period 2001-2005: Statistical Inference and Projection (in Spanish). Research document developed for Nextel del Perú S.A. Lima, Peru: Nextel del Perú, December 2001. (Contract №GLR-231/01)
  • Municipal Institutional Capacity: An Econometric Analysis of the Probability of Being Institutionally Deficient, in Decentralization Strategy and Development of Sub-National Governments in Peru (in Spanish). Research document prepared for the Research Center of the Universidad del Pacífico (CIUP) and presented before the Inter-American Development Bank in Peru. Lima, Peru: CIUP, August 2001. (Contract EMD.1.042.00-F.)
  • An Evaluation of the Impact on Competition in the National Electric Market of the Privatization of the Empresa Eléctrica de los Andes (in Spanish). Research document elaborated for the Free Competition Committee (CLC) of the National Institute for the Defense of Competition and the Protection of Intellectual Property (INDECOPI). Lima, Peru: CLC-INDECOPI, September 2001. (Contract №018-2001/PL.)
  • Institutionalization: A Requirement for Secure Electronic Commerce. Proyección, V.24, №5. Lima, Peru: Alumni Association of Universidad ESAN, 2000. (In Spanish.)
  • First National Survey on the Necessities and Expectations of the Fixed-Line Telephone Service Residential User (in Spanish). Lima, Peru: Supervising Agency for Private Investments in Telecommunications, May 1999.
  • Consumer Behavior in the Fixed-Line Telephone Market: Econometric Estimation of the Probability to File a Complaint Using Simulated Data and Asymmetric Information (in Spanish). Working paper presented at the First Seminar on Consumer Affairs in Regulated Sectors. Lima, Peru: Agency for Private Investments in Telecommunications, November 22, 1998.
  • The Robustness of Economic Rent as a Measure of Natural Resource Scarcity. Working paper presented at the XVI Latin American Meeting of the World Econometric Society. Lima, Peru: World Econometric Society, August 1998.
  • Determinants of Electricity Demand Growth in Maryland, in Maryland Power Plants and the Environment: A Review of the Impacts of Power Plants and Transmission Lines on Maryland’s Natural Resources, ed. Power Plant Research Program of the Maryland Department of Natural Resources, 10th edition. Annapolis, MD: Power Plant Research Program of the Maryland Department of Natural Resources, June 1998.
  • The Demand for Electricity Faced by the Delmarva Power and Light Company: Econometric Estimation and Long-Term Forecast (co-authored). Annapolis, MD: Power Plant Research Program of the Maryland Department of Natural Resources, February 1998. (Contract №PR97-056-001.)
  • The Demand for Electricity Faced by the Potomac Electric Power Company: Econometric Estimation and Long-Term Forecast (co-authored). Annapolis, MD: Power Plant Research Program of the Maryland Department of Natural Resources, December 1997. (Contract №PR91-046-001.)
  • An Econometric Short-Term Forecast of the Bangor Hydro-Electric Company Energy Sales. Augusta, Maine: Maine Public Advocate, August 1997. (Docket №97-116.)
  • Forecasted Electric Power Demands for the Delmarva Power and Light Company: An Update. Annapolis, MD: Power Plant Research Program of the Maryland Department of Natural Resources, August 1996. (Contract №PR91-046-001.)
  • Forecasted Electric Power Demands for the Baltimore Gas and Electric Company (co-authored). Annapolis, MD: Power Plant Research Program of the Maryland Department of Natural Resources. May 1996. (Contract №PR91-046-001.)
  • Monetary Approach to Exchange Rate Determination: Further Empirical Evidence on the German Hyperinflation. Working paper presented at the Annual Student Research Conference of American University. Washington, D.C: American University, February 15, 1992.
  • Alleviation of Debt Burden as a Source for the Stability of Democracy. The Rostrum, V.6, №1 (1990).
  • Debt Evolution and Rescheduling: The Unique Experience of Peru. The Rostrum, V.5, №1 (1988).

CONFERENCES

  • “Capitalism and Freedom under the current Political Crisis in Peru”. Address given at the 8th Edition of the International Conference on Global Management, organized by the School of Business of the Universidad Peruana de Ciencias Aplicadas. Lima, Peru, November 16, 2022. (In Spanish).
  • “Without Freedom of the Press there is no Economic Freedom”. Conference given at the II World Summit on Freedom, in honor of the International Freedom of the Press Day, organized by the Sociedad de la Libertad. Lima, Peru, May 3, 2022.
  • “The Political Economy of Conscious Leadership.” Conference given at the VI Executive Business Training to Journalists, Grupo Scotiabank. Lima, Peru, June 16, 2021. (In Spanish.)
  • “Business Leadership and Conscious Capitalism: the Role of the New Generations.” Conference organized by the School of Business of the Universidad Peruana de Ciencias Aplicadas. Lima, Peru, May 20, 2021. (In Spanish).
  • “Conscious Capitalism, Companies with Purpose, Business Leadership, and the Role of the Academy.” Conference organized by the School of Business of the Universidad Peruana de Ciencias Aplicadas. Lima, Peru, May 31, 2021. (In Spanish).
  • “Economic Progress in Peru: Between Reality and Myth.” Conference given at the 118th Extraordinary Assembly of Bishops of Peru, organized by the Peruvian Episcopalian Conference. Lima, Peru, May 12, 2021. (In Spanish).
  • “Economic Progress in Peru: Between Reality and Myth.” Conference given as part of the International Virtual Seminar, The World and Peruvian Current Economic Situation: Challenges Ahead, organized by the Department of Economic Engineering of the Universidad Nacional de Frontera. Sullana, Peru, May 10, 2021. (In Spanish).
  • “Competitiveness: Freedom, Markets, and Institutions”. Conference given at the VI edition of videoconferences, entitled, Economic Reactivation: Competitiveness and Employment, organized by the Office of International Cooperation of the Congress of the Republic of Peru. Lima, Peru, October 30, 2020. (In Spanish).
  • “Generation of Wealth: Capital and Entrepreneurship”. Conference given at the Program of Professional Orientation/International Baccalaureate, St. George´s College. Lima, Peru, August 27, 2020. (In Spanish).
  • “Reminiscences of Political Economy on Peruvian Reality”. Conference given at the Estrechando Vínculos Program, 2020 Edition Finance Department, School of Business, Universidad Peruana de Ciencias Aplicadas. Lima, Peru, UPC, June 5, 2020. (In Spanish).
  • “An Analysis of Peruvian Economic Reality through Key Indicators”. Conference given at the XII Edition of the Universidad de la Libertad, Instituto Político para la Libertad. Lima, Peru, December 13, 2019. (In Spanish).
  • “Ten Ideas on Political Economy for the Bicentenary (of Peru).” Conference given at the VI Executive Business Training to Journalists, Grupo Scotiabank. Lima, Peru, October 25, 2019. (In Spanish).
  •   "Ten Basic Lessons in Economics". Conference given as part of the cultural activities for the XLI anniversary of the School of Economic, Administrative and Accounting Sciences of the Universidad Nacional de San Cristóbal de Huamanga. Ayacucho, Peru, October 24, 2018. (In Spanish).
  •   "Ten Basic Lessons in Economics". Conference given at the IV Executive Business Training to Journalists, Grupo Scotiabank. Lima, Peru, October 20, 2018. (In Spanish).
  • “Wealth Generation, Institutions, and Liberty: A Political Economy Analysis of Peruvian Reality.” Lecture given at the 2018 Lecture Cycle of the Education Program for Executives, Universidad Peruana de Ciencias Aplicadas. Lima, Peru, May 17, 2018. (In Spanish).
  • “The Political Economy of the First 100 Days of the Kuczynski Administration”. Conference given at the III Executive Business Training to Journalists, Grupo Scotiabank. Lima, Peru, December 3, 2016. (In Spanish).
  • “Consumers´ Defense under the APEC and OECD Normative Frameworks.” Panelist at the table “For a New Peru with Free Competition and an OECD-based Law on Mergers and Acquisitions.” Lima, Peru: Colegio de Abogados de Lima, November 15, 2016. (In Spanish).
  • “Opportunity and Business Cost Management.” Conference given at the III Executive Business Training to Journalists, Grupo Scotiabank. Lima, Peru, September 17, 2016. (In Spanish).
  • “Economic Conditions for Business Investment in Peru.” Conference given to MBA Program students of the University of Southern California. Lima, Peru: UPC, May 18, 2016.
  • “Reflections on Political Economy ad portas of the second round of the Presidential Elections”. Conference given at the III Executive Business Training to Journalists, Grupo Scotiabank. Piura, Peru, May 14, 2016. (In Spanish).
  • “Uses and Limitations of Key Economic Indicators”. Conference given at the II Executive Business Training to Journalists, Grupo Scotiabank. Arequipa, Peru, July 11, 2015. (In Spanish).
  • “The Political Economy of the First 100 Days of the Kuczynski Administration”. Conference given at the III Executive Business Training to Journalists, Grupo Scotiabank. Lima, Peru, December 3, 2016. (In Spanish).
  • “The Political Economy of Peruvian Reality ad portas of the Next Electoral Year: Growth, Development, and Income Redistribution.” Conference given at the XXI Regional Congress of Business Students – Southern Chapter, Puerto Maldonado, Peru: Universidad Nacional Amazónica de Madre de Dios, July 7, 2015. (In Spanish).
  • “Economic, Political, and Institutional Reflections of Current Peruvian Reality”. Conference given at the ‘Economic Expectations and Challenges in Peru in 2015’ Forum, Nordic-Peruvian Chamber of Commerce. Lima, Peru, March 10, 2015. (In Spanish).
  • “¿Who Owns Peru? An Explanation of Why We are Poor”. Conference given at the XVII Annual Extraordinary Statutory Congress, ‘Felipe Osterling Parodi’, Partido Popular Cristiano del Perú. Lima, Peru, February 21, 2015. (In Spanish).
  • “An Analysis of the Current Peruvian Economic Situation” (in Spanish). Conference given at the ‘Federico Tovar Freire’ Annual National Plenary, Partido Popular Cristiano del Perú. Lima, Peru, December 13, 2014. (In Spanish).
  • “The Use of the Electric Energy Sector Infrastructure to Provide Telecommunications and Information Services Commercially: A Legal Analysis and Regulatory Viability (in Spanish).” Conference given at the XXIV Annual Meeting of CONCAPAN. San Jose, Costa Rica: Electric and Electronic Engineering Institute and Power Engineering Association, November 9–12, 2004. (In Spanish).
  • “Information Technology Security: A Requirement for a Connected Peru (in Spanish).” Conference given at the Commission for the Reform of Codes´ Public Audience on the Regulation of Electronic Commerce in Peru. Lima, Peru: Congress of the Republic of Peru, September 24, 1999. (In Spanish).

TEACHING EXPERIENCE

More than 30 years of undergraduate and graduate teaching experience at the following private universities in Peru and the United States:

2020 – Present: University of Arizona – Tucson, AZ, USA

Teaches Economics of Strategy, and Macroeconomic and Global Institutions and Policy, BSBA, Eller School of Business.

2004 – Present: Universidad Peruana de Ciencias Aplicadas (UPC) – Lima, Peru

  • Teaches intermediate managerial economics, economics of competitive production, and economics of strategy (2013 – present) at the undergraduate level.
  • Taught business economics, and economic policy, at the Executive MBA and the MPA programs (2016-2019).
  • Taught undergraduate regulatory and antitrust economics, intermediate price theory, and industrial organization (2004-2008).

2012 / 2009 - 2010: Universidad de San Martín de Porres – Lima, Peru

  • Taught undergraduate microeconomic theory.
  • Taught economic theory and policy at the doctorate program in Government and Public Policy of the Institute of Government (2009-2010).
  • Taught business activity and regional development at the graduate level Citizenship and Democratic Governability Program of the Institute of Government (2010).

2008: University of Phoenix – Phoenix, AZ, USA.

Taught strategic planning at the Online MBA Program.

1998-2000: Universidad San Ignacio de Loyola – Lima, Peru

  • Taught business economics at the MBA Program.
  • Taught principles of microeconomics and intermediate price theory at the undergraduate level.

1991-1994: American University – Washington, D.C., USA.

Taught principles of macroeconomics.

ADDITIONAL PROFESSIONAL TRAINING

  • Managing for Principled Performance, organized by the Laureate Education Ethics Center. Miami, FL: November 22, 2025.
  • Anti-Harassment and Discrimination, organized by the Laureate Education Ethics Center. Miami, FL: November 16, 2025.
  • Anti-Corruption and Bribery: Global Anti-Corruption Course, organized by the Laureate Education Ethics Center. Miami, FL: April 5, 2025.
  • Investments, Global Business, Entrepreneurship, and Innovation, organized by Universidad EAFIT. Medellin, Colombia: July 8-12, 2024.
  • Corporate Governance for Leading the Board, organized by Universidad del Pacífico, and EY. Lima, Peru: May 11-12, 2023.
  • Forming Together, VII Annual Teaching Talent Congress, organized by the Universidad Peruana de Ciencias Aplicadas. Lima, Peru: August 12-13, 2020.
  • One Day at a Time (extended virtual conference) organized by Conscious Capitalism, Inc. April, 1-14, 2020.
  • The Economics of Liberty. Seminar in the Economic Analysis of Liberty and Antiliberal Political Economy, organized by The Cato Institute. New Port Beach, CA, July 27-30, 2017.
  • International Business Week. Training at Universidad Europea, co-organized by the Universidad Europea and the Universidad Peruana de Ciencias Aplicadas. Madrid, Spain, December 13-20, 2016.
  • Managing a Global Company: The Successful Experience of Delta. Training given by Delta Air Lines, Inc., and co-organized by UPC and Delta Air Lines, Inc. Atlanta, GA, August 3-8, 2015.
  • The Philosophy, Sociology, History, Economics, and the Politics of Libertarianismo. Seminar in Political Economy organized by the Cato Institute. Washington, D.C., July 26-31, 2015.
  • II Forum of Political Economy and Capital Markets. Forum organized by ProCapitales. Lima, Peru, June 5, 2013.
  • International Business Management Summit 2012: Peru and International Development. Seminar organized by the University of San Martín de Porres. Lima, Peru, September 4, 2012.
  • Fiber Optics in the SIEPAC Transmission System. Tutorial organized by the Electronic and Electrical Engineering Institute – Costa Rica Chapter. San José, Costa Rica, November 9 and 10, 2004.
  • E-Security: A Pending Agenda. Seminar given by Cinnabar Networks, Inc., and organized by the Supervising Agency for Private Investments in Telecommunications of Peru. Lima, Peru, October 2-6, 2000.
  • XI Canadian Information Technology Security Symposium. Organized by the Federal Government of Canada. Ottawa, Canada, May 9-14, 1999.
  • Effective Negotiations. Seminar given by Conflict Management, Inc., and organized the Supervising Agency for Private Investments in Telecommunications of Peru. Lima, Peru, April 16-18, 1999.

ADDITIONAL PERSONAL INFORMATION

  • Birth date: March 28, 1965.
  • Birthplace: Lima, Peru.
  • Nationality: Peruvian
  • Permanent Residence: Vienna, Virginia, USA.
  • Civil Status: Separated (two children).
  • Languages: Spanish (perfectly fluent) and English (perfectly fluent).
  • Social Memberships: Club Nacional, The Phoenix Club, Peru Runners
  • Professional networks: member of extensive professional networks composed of but not limited to high-ranking officials of the government, and private sector business executives of the telecommunications, energy, mining, service, and banking and finance industries, in addition to members of the media, consultants, attorneys of prestigious law firms, and university professors.
  • Have lived in or traveled for work and/or pleasure to more than 30 countries in the Americas, Europe, Middle East, Eurasia, and Far East.