Professor FitzGerald comes from an Irish and English background and was educated at Oxford (PPE, BA 1968) and Cambridge (Economics, PhD 1972). He was first employed by The Economist; was Assistant Director of Development Studies at Cambridge until 1979; then Professor of Development Economics at the Institute of Social Studies, The Hague (part of Erasmus University Rotterdam). During the 1980s Valpy also served as economic adviser to the Government of Nicaragua on secondment from the Kingdom of the Netherlands.
Valpy returned to Oxford in 1992 to join what was then Queen Elizabeth House and which he helped transform into the Oxford Department of International Development. He was Director of the Finance and Trade Policy Research Centre 1992-2006; Tutor for Admissions 2000-5; Head of Department 2007-12; and REF Coordinator 2012-14; finally retiring in 2014. He is now a Professorial Fellow Emeritus of St Antony's College Oxford.
Valpy FitzGerald's current research interests include the reform of international taxation (on both corporate profits and personal wealth), the macroeconomics of income inequality in the Kaleckian tradition, and the long-run economic history of Latin America. He is also writing a history of QEH/ODID framed by the post-colonial transformation of the University.
During his professional career Professor FitzGerald has acted as economic adviser to a number of developing country governments (ranging from Peru and Mexico to Cambodia and the Maldives); as well as several United Nations agencies, the G24 and the OECD. Between 1997 and 2002 he acted as adviser on international investment to the newly formed UK Department for International Development, contributing to the seminal 2000 White Paper Eliminating World Poverty: Making Globalization Work for the Poor. Currently, he serves as a commissioner – with colleagues Ocampo, Piketty and Stiglitz – of the Independent Commission on the Reform of International Corporate Taxation (ICRICT, www.icrict.com).
Valpy has a close relationship with progressive Spanish academic economics, having held the Queen Victoria Eugenia chair at the Universidad Complutense (Madrid) 1995-6 and 1996-7; receiving the Gabarrón Prize in Economics in 2007 and an Honorary Doctorate from the Complutense in 2014. He was elected Honorary President of the Sociedad de Economia Mundial in 2015; and is a founding scientific board member of the Red Española de Estudios de Desarrollo and of the Sociedad Española de Economía Crítica.
Since retirement Valpy and Angelines live between Oxford and Andalucía, where they grow olives and almonds. A somewhat charitable valedictory biography may be found in John Toye ‘Valpy FitzGerald: radical macroeconomist of development’ Oxford Development Studies https://doi.org/10.1080/13600818.2017.1311851.
Books and monographsFitzGerald, Valpy (with J Heyer, R Thorp )(2011) 'Overcoming the Persistence of Inequality and Poverty ', Basingstoke, New York: Palgrave MacmillanFitzGerald, Valpy (with Frances Stewart and Ranesh Venugopal )(2006) 'Globalization, Self-Determination and Violent Conflict ', PalgraveFitzGerald, Valpy (with R Thorp )(2005) 'The Tranmission of Economic Ideas in Latin America ', Basingstoke: Palgrave MacmillanFitzGerald, Valpy (2005) 'Economic Doctrines in Latin America: origins, embedding and evolution ', PalgraveFitzGerald, Valpy (with P Astora, A Berges )(2003) 'The Oxford Latin American Economic History Database ',FitzGerald, Valpy (with J A Alonso )(2003) 'Financiacion del desarrollo y coherencia en las politicas de los donantes ', Madrid: CatarataFitzGerald, Valpy (2003) 'Global Markets and the Developing Economy ', Palgrave : pps 224FitzGerald, Valpy (2002) 'Institutions and Development: Essays in Memory of Kurt Martin ', The Hague: KluwerFitzGerald, Valpy (1995) 'Global Markets and the Developing Economy ', Basingstoke: Palgrave
Journal articles and special issuesFitzGerald, Valpy (2018) 'Global economy, academic economics and the World Economy Journal ', Revista de Economía Mundial 50 : 19-26FitzGerald, Valpy (2018) 'Shaping the global tax base equitably: international cooperation to stop corporate tax avoidance and re-source the SDGs ', Global Solutions Journal 1 (2) : 246-54FitzGerald, Valpy (with Tommaso Faccio )(2018) 'Sharing the corporate tax base: equitable taxing of multinationals and the choice of formulary apportionment ', Transnational Corporations 25 (2) : 67-87FitzGerald, Valpy (2012) 'Global capital markets, direct taxation and the redistribution of income ', International Review of Applied Economics 26 (2) : 241-52FitzGerald, Valpy (with P Astorga, A Berges )(2011) 'Productivity Growth in Latin America over the Long Run ', The Review of Income and Wealth 57 (2) : 203-23FitzGerald, Valpy (2008) 'Economic Development and Fluctuations in Earnings Inequality in the Very Long Run: The Evidence from Latin America 1900-2000 ', Journal of International Development 20(8) : 1028-48FitzGerald, Valpy (2007) 'Desarrollo financiero y crecimiento económico: una visión crítica’ ', Principios, Estudios de Economía Política 7 : 5-30FitzGerald, Valpy (2005) 'Modelos monetarios y control de la inflación en las economías de mercado emergente ', Principios, Estudios de Economía Política 2 : 5-23FitzGerald, Valpy (with P Astorga, A Berges )(2005) 'The Standard of Living in Latin America during the Twentieth Century ', The Economic History Review 58(4) : 765-96FitzGerald, Valpy (with Sofia Babilis )(2005) 'Risk Appetite, Home Bias and the Unstable Demand for Emerging Market Assets ', International Review of Applied Economics 19 (4) : 459-76FitzGerald, Valpy (2004) 'Financial Globalisation and Poor Countries: The Impact of International Asset Demand Instability on Emerging Markets ', IDS Bulletin 35 (1) : 50-9FitzGerald, Valpy (2004) 'Global financial Information, compliance Incentives and terrorist funding ', European Journal of Political Economy 20 (2) : 387-401FitzGerald, Valpy (2002) 'Modelos monetarios y control de la inflación en economías de mercado emergentes ', Principios, Estudios de Economía Política 2 : 5-23FitzGerald, Valpy (2002) 'International Tax Cooperation and Capital Mobility ', Oxford Development Studies 30 (3) : 251-66FitzGerald, Valpy (2001) 'La cooperación fiscal internacional y los países en vías de desarrollo ', Ekonomiaz 48 : 128-55FitzGerald, Valpy (1999) 'Global Capital Market Volatility and the Developing Countries: Lessons from the East Asian Crisis ', IDS Bulletin 30 (1) (January) : pp 19-32FitzGerald, Valpy (1999) 'La volatilidad del mercado internacional de capitales y el diseno de una arquitectura financiera global ', Mientra Tanto 47 : pp 95-120FitzGerald, Valpy (1999) 'Global Linkages, Vulnerable Economies and the Outbreak of Conflict ', Development 42 (3) : 57-64FitzGerald, Valpy (1997) 'Measuring External Shock and Domestic Response in LDCs: Completing Balassa's Decomposition Method ', Journal of International Development 9 (5) : pp 675-693FitzGerald, Valpy (with H Grabbe )(1997) 'Integracion Financiera: La Experiencia Europea y Sus Lecciones Para America Latina ', Integracion y Commercio 1 (2) : pp 85-124FitzGerald, Valpy (1997) 'Paying for the War: Macroeconomic Stabilisation in Poor Countries Under Conflict Conditions ', Oxford Development Studies Carfax Publishing 25 (1)FitzGerald, Valpy (1996) 'International Capital Markets and Open Economy Macroeconomics ', Oxford Development Studies Carfax Publishing 25 (1)
ChaptersFitzGerald, Valpy (2008) 'Stabilization Policy and Structural Adjustment ', International Handbook of Development Economics Cheltenham, Northampton MA: Edward ElgarFitzGerald, Valpy (2008) 'Finance and Growth in Developing Countries: Sound Principles and Unreliable Evidence ', Issues in Finance and Industry: Essays in Honour of Ajit Singh Basingstoke, New York: Palgrave Macmillan : 29-51FitzGerald, Valpy (2005) 'Monetary Models and Inflation Targeting in Emerging Market Economies ', New Monetary Policy: Implications and Relevance Aldershot: Edward ElgarFitzGerald, Valpy (2005) 'Policy Issues in Market Based and Non-market Based Measures to Control the Volatility of Portfolio Investment ', Finance and Development: Surveys of Theory, Evidence and Policy Aldershot: Edward ElgarFitzGerald, Valpy (2005) 'Models of Saving, Income and the Macroeconomics of Developing Countries in the Post-Keynesian Tradition ', Growth and Economic Development: Essays in Honour of AP Thirlwall Aldershot: Edward ElgarFitzGerald, Valpy (2003) 'The Instability of International Demand for Emerging Market Assets ', From Capital Surges to Drought: Seeking Stability for Developing Economies Basingstoke: Palgrave for UNU/WIDER : pp 191-213FitzGerald, Valpy (2001) 'Developing Countries and Multilateral Investment Negotiations ', Multilateral Regulation of Investment Kluwer Law International : pp 35-66FitzGerald, Valpy (1999) 'Trade, Investment and the NAFTA: The Economics of Neighbourhood ', V Bulmer-Thomas, J Dunkerley (eds), The United States and Latin America: The New Agenda Harvard MA: Harvard University Press : pp 99-122FitzGerald, Valpy (1999) 'Revaluando la ayuda para el desarrollo: implicaciones de una ciudadania social en una economia global ', C Hewitt, A Minujin (eds), Globalizacion y Derechos Humanos Bogota and Madrid: Santillana : pp 179-212FitzGerald, Valpy (with G Perosino )(1999) 'Trade Liberalization, Employment and Wages: A Critical Approach ', Labour Markets, Poverty and Development Oxford: OUP : pp 34-63FitzGerald, Valpy (1999) 'Financing Sustainable High Growth in Developing Countries ', Fiscal Implications of Debt and Debt Relief London: Department for International DevelopmentFitzGerald, Valpy (with K Jansen )(1997) 'International Finance, Growth and Adjustment: An Introduction ', K Jansen, R Vos (eds), External Finance and Adjustment: Failure and Success in the Developing World MacmillanFitzGerald, Valpy (with K Sarmad )(1997) 'External Shocks and Domestic Adjustment in the 1970s and 1980s ', K Jansen, R Vos (eds), External Finance and Adjustment: Failure and Success in the Developing World MacmillanFitzGerald, Valpy (1996) 'The New Trade Regime, Macroeconomic Behaviour and Income Distribution in Latin America ', The New Economic Model in Latin America and its Impact on Income Distribution and Poverty MacmillanFitzGerald, Valpy (1996) 'The Impact of NAFTA on the Latin American Economies ', V Bulmer-Thomas (ed), Mexico and the North American Trade Agreement MacmillanFitzGerald, Valpy (1996) 'International Markets and Open-economy Macroeconomics: A Keynesian View ', The Relevance of Keynesian Economic Policies Today Macmillan : pp 186-206FitzGerald, Valpy (1995) 'Hamlet Without the Prince: Structural Adjustment, Firm Behaviour and Private Investment in Semi-Industrialised Economies ', Finance, Development and Structural Change: Post-Keynesian Perspectives Aldershot: Elgar
ReportsFitzGerald, Valpy (with A Cobham )(2000) 'Export Credit Appropriateness and Risk in Poorer Countries ', Background paper for DfID Submission to HMG Review of the Export Credit Guarantee DepartmentFitzGerald, Valpy (1999) 'Policy Issues in Market Based and Non Market Based Measures to Control the Volatility of Portfolio Investment ', Geneva: UNCTAD/Global Development Policy DivisionFitzGerald, Valpy (1999) 'International Investment Treaties and Developing Countries ', IDS/DfID Trade and Investment Briefing No 9 Sussex UniversityFitzGerald, Valpy (with A Grigsby )(1997) 'Nicaragua: The Political Economy of Social Reform and Armed Conflict ', Report to the Swedish Development Cooperation Agency (SIDA) : pps 186FitzGerald, Valpy (with G Mavrotas )(1996) 'Private Investment Recovery and Sustainable Growth after Adjustment ', (RS914) Report to the Overseas Development AdministrationFitzGerald, Valpy (with G Mavrotas )(1996) 'Employment Effects of Foreign Investment in Developing Countries ', Geneva: ILO
Working papersFitzGerald, Valpy (2013) 'The international fiscal implications of global poverty reduction and global public goods provision ', WIDER Working Paper WP/2013/136 Helsinki: UNU-WIDERFitzGerald, Valpy (2010) 'International Tax Cooperation and International Development Finance ', Background Papers for the World Economic and Social Survey 2010 New York: United Nations Division for Economic and Social AffairsFitzGerald, Valpy (with P Astora, A Berges )(2005) 'Endogenous Growth and Exogenous Shocks in Latin America During the XXth Century ', Oxford University, Discussion Papers in Economic and Social History 57FitzGerald, Valpy (with P Astogra, A Berges )(2004) 'The Standard of Living in Latin America During the Twentieth Century ', Oxford University, Discussion Papers in Economic and Social History 54FitzGerald, Valpy (with D Krolzig )(2003) 'Modelling the Demand for Emerging Market Assets. The Instability of the Emerging Markets Asset Demand Schedule ', Oxford University, Financial Economics Working Paper 2003-FE-10FitzGerald, Valpy (with P Astorga, A Berges )(2003) 'Productivity Growth in Latin America During the Twentieth Century ', Oxford University, Discussion Papers in Economic and Social History 52FitzGerald, Valpy (1999) 'Capital Surges, Investment Instability and Income Distribution after Financial Liberalisation ', Finance and Development Research Programme Paper University of Manchester/IDPM 6FitzGerald, Valpy (1999) 'The Security of International Finance (1999 Wolfson Lecture) ', QEH Working Paper Series QEHWPS23FitzGerald, Valpy (with G Mavrotas )(1996) 'The Employment Impact of External Capital Flows in Developing Countries ', Employment and Training Papers Geneva: ILO 5FitzGerald, Valpy (1996) 'Intervention Versus Regulation: The Role of the IMF in Crisis Prevention and Management ', UNDP Discussion Paper Geneva: UNDP
Conference papersFitzGerald, Valpy (1999) 'The Development Dimension of the New International Financial Architecture ', Paper for 9th EADI General Conference, Paris