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Andrei Shleifer

Andrei Shleifer

Who Is Andrei Shleifer?

Andrei Shleifer is a Harvard University teacher and financial and behavioral economist. A past champ of the John Bates Clark Medal, given to top economists under age 40, Dr. Shleifer is a member of the vaunted Harvard-MIT hub of economic scholars. Shleifer is habitually in the top rankings of economists, as per criteria like the number of distributed works, number of references, and number of journal pages.

Life and Career

Dr. Shleifer, brought into the world in Russia in 1961, earned a college degree from Harvard and a Ph.D. from MIT. In the wake of showing stretches at Princeton and University of Chicago, he turned out to be part of the Harvard workforce. In 1991 he played an advisory job with the Russian government, assisting with leading the country's economic reform after the collapse of the Soviet Union. Simultaneously, Harvard was searched out by the U.S. government to exhort the Russian government. Shleifer's contribution with both Harvard and the Russian government finished numerous years after the fact in a conflict of interest scandal including personal gains from investments in Russian securities. After an investigation, both Harvard and Shleifer were forced to pay fines in 2005 to finish the matter. He lost his privileged title at Harvard yet retained his tenure.


Dr. Shleifer is a productive researcher and writer. He is generally noted for his contributions to financial economics and development economics.

Financial Economics

Shleifer's work in financial economics centers around the field of behavioral finance, investigating the manners by which cognitive bias and other behavioral effects impact financial market structure, performance, and returns on investments. He is a pundit of the efficient markets hypothesis, contending that the accessible evidence predominantly goes against the suppositions of rationality and fast arbitrage in financial markets. Shleifer educates and composes that in real financial markets, investors and financial traders are not exactly completely rational and are limited by risk aversion, short time skylines, and agency issues.

Development Economics

Shleifer's work in development economics underlines the quality of legal institutions as a deciding factor in financial and economic development across countries. In particular, he has contended that the historical beginning of a country's legal system in either common law or civil law is significant in the sort of investor property rights, financial regulation, and general government proficiency that exist today. Alongside his partners in the field, Shleifer's research has shown that countries whose legal systems depend on common law display better investor protection, lighter government economic intervention, and more independent courts and legal authorities, and that these are thusly associated with safer property rights, better contract enforcement, worked on financial development, less corruption, better working labor markets, and more modest unofficial economies.


  • Shleifer has had a productive career in scholastic distributing and applied investment and counseling work.
  • Andre Shleifer is an economics teacher at Harvard University, known for his work in behavioral finance and development economics.
  • Shleifer's research contends against hypotheses of rational and efficient financial markets and accentuates the job of legal institutions in financial development.