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Frankel, Ya'akov


FRANKEL, YA'AKOV (1943– ), Israeli economist. Frankel was born in Tel Aviv. In 1966 he received his B.A. degree in economics and political science from the Hebrew University of Jerusalem. He then received his M.A. in 1969 and Ph.D. in 1970 from the University of Chicago, both in economics. In 1971 he joined Tel Aviv University as a lecturer and in 1991 he became full professor. From 1994 he held the Wisefield Cathedra for Peace Economy and International Relations. From 1987 to 1991 he was chief economist and research director of the International Exchange Fund. He dealt with the debt problem of the developing countries and assisted states making the transition from a centralized to a market economy. In 1988 he joined the g-30 and from 2000 served as their chairman. In 1991 he was named governor of the Bank of Israel, a position he held until 2000. As governor he steered Israel into the global economy, liberalizing local money markets. He helped Israel stop inflation and achieve price stability, again making the country an attractive venue for investors. In 1991 he also joined the council of the g-7 and in 1992 he became a member of Ben-Gurion University's board. During 1995–96 he was the chairman of the board of governors of the American Bank for Rehabilitation and Development, while in 1999 he became deputy chairman of the board of governors of the European Bank for Rehabilitation and Development. From 2000 he was president of Merril Lynch and served as a member in the boards of Bar-Ilan and the Hebrew University. Frankel published over 300 articles and 18 books, including The Monetary Approach to the Balance of Payments (ed. with H.G. Johnson, 1976); Exchange Rates and International Macroeconomics (ed., 1983); Fiscal Policies and the World Economy (with A. Razin, 1987); International Aspects of Fiscal Policies (ed., 1988); and The International Monetary System: Key Analytical Issues (ed. with M. Goldstein, 1996). In 2003 he received the Israel Prize for his contribution in the field of economics.


[Shaked Gilboa (2nd ed.)]

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