Middlebury Institute of International Studies at Monterey

Harvey Arbelaez


Professor Arbelaez joined the Institute after previously teaching at several American universities such as Pennsylvania State University, Rutgers University, Temple University, St. Joseph's University, and Philadelphia University, as well as in other institutions in Latin America such as UPB and EAFIT (Colombia), ESAN (Peru), and IESA (Venezuela) among others. He has also consulted for the International Trade Centre of the UNCTAD/ GATT through the auspices of the regional UNDP for the internationalization of the business curriculum of the business schools in Latin America, and more recently for the UNCTAD Division of Investment, Technology and Enterprise Development on FDI policy reviews.

Some of his research work has appeared in The Thunderbird Review of International Business (formerly The International Executive), Managerial Finance, Emerging Markets Quarterly, International Review of Financial Analysis, International Journal of Management, Journal of International Marketing and Marketing Research, Journal of Transnational Management Development, Academia, Revista Administracion U.P.B., Revista Javeriana, Revista Fiscal, and Revista Universidad Eafit. He has also contributed chapters to several books on international business and finance. He has been an editor of journals and books, and is a member of the editorial board of Frontiers in Finance and Economics. Dr. Arbelaez has edited a book titled Latin American Financial Markets: Developments in Financial Innovations as a volume of the book series International Finance Review.

Professor Arbelaez is an active member of the Academy of International Business (AIB), the Business Association of Latin American Studies (BALAS), the Financial Management Association International (FMA), the Latin American Council of Schools of Business and Management (CLADEA), and the Multinational Finance Society (MFS). He has also received several awards and scholarships such as IBEAR at the USC Marshall School and Rotary International in the Netherlands.


Business in Latin America, corporate finance, country analysis, currency substitution, foreign direct investment, international business planning


PhD, Temple University, Philadelphia, PA; MBA, University of New Orleans, New Orleans, LA; MMMP Certificate, Tufts University and IMM, Boston, MA; BS, Universidad Pontificia Bolivariana, Medellin, Colombia

Selected Publications

"Market Reform and FDI in Latin America: An Empirical Investigation"
"Short-term and Long-term Linkages among the Colombian Capital Market Indexes"
"A Note Using Mergers and Acquisitions to Gain Competitive Advantage in the United States in the Case of Latin America MNCs"
"Carrera Academia y Escuelas de Gerencia"
"Managers' Perceptions to the Evolution of the Marketing Concept: The Case of Colombia"
"Latin American Banks Responses to the Y2K Problem: An Ex-Ante Analysis"
"The Behavior of the Colombian Emerging Capital Market"

Course List