The GUTMANN CENTER FOR PORTFOLIO MANAGEMENT

at the University of Vienna (http://www.gutmann-center.at)

is pleased to announce the following

PUBLIC LECTURE:

Date: October, 17th, 11.00 a.m. Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien (http://www.gutmann.at)

Speaker: Andrei SHLEIFER, Harvard University http://post.economics.harvard.edu/faculty/shleifer/shleifer.html

The Whipple V.N. Jones Professor of Economics at Harvard University, Andrei Shleifer holds an undergraduate degree from Harvard and a Ph.D. from MIT. Before coming to Harvard in 1991, he has taught at Princeton and the Chicago Business School. Shleifer has worked in the areas of comparative corporate governance, law and finance, behavioral finance, as well as institutional economics. He has published four books, including The Grabbing Hand (with Robert Vishny), and Inefficient Markets: An Introduction to Behavioral Finance, as well as over a hundred articles. Shleifer has served as the Editor of the Quarterly Journal of Economics between 1989 and 1999, and as an Associate Editor of both the Journal of Finance and the Journal of Financial Economics. He is currently the Editor of the Journal of Economic Perspectives and an Advisory Editor of the JFE. Shleifer is a fellow of the Econometric Society and of the American Academy of Arts and Sciences. In 1999, Shleifer won the John Bates Clark medal of the American Economic Association.

Title: "A Normal Country" Russia's reforms

Abstract: "During the 1990s, Russia underwent an extraordinary transformation from a communist dictatorship to a multi-party democracy, from a centrally planned economy to a market economy, and from a belligerent adversary of the West to a cooperative partner. Yet a consensus in the US circa 2000 viewed Russia as a disastrous and threatening failure, and the 1990s as a decade of catastrophe for its citizens. Analyzing a variety of economic and political data, we demonstrate a large gap between this perception and the facts. In contrast to the common image, by the late 1990s Russia had become a typical middle-income capitalist democracy."

Please register - Contact:

Brigitte Juchelka, Bank Gutmann AG mail: brigitte.juchelka@gutmann.at Tel.: +43-1-50220-357 Fax: +43-1-50220-249

Further information:

Dorothea Grimm Gutmann Center for Portfolio Management mail: dorothea.grimm@univie.ac.at Phone: +43-1-4277-38186 web: http://www.gutmann-center.at