Hollis B. Chenery
Encyclopedia
Hollis Burnley Chenery was an American
economist
well known for his pioneering contribution in the field of development economics
.
, son of Christopher Chenery
, a businessman and horseman. He was educated in Virginia, Pelham Manor, New York
and at the universities of Arizona and Oklahoma. He served in the United States Army Air Corps
in World War II
. After the war he earned Master degrees from California Institute of Technology
and the University of Virginia
and a Ph.D. from Harvard University
(awarded 1950).
in 1961, and rose to become an assistant administrator. In 1965 he became a professor of economics at Harvard. He worked as the World Bank's vice president for development policy from 1972 through to 1982.
Chenery's work was wide ranging but might be summarised as involving the analysis of patterns of development, the use of a two-gap model and multi-sectoral analysis.
raced Secretariat
on behalf of the family. Secretariat became the first horse in 25 years to win the American Triple Crown
, with record-setting victories in the Kentucky Derby
, the Preakness
and the Belmont Stakes
. After Secretariat's victory in the Belmont Stakes, Hollis Chenery led the horse down the walkway to the winner's circle as cameras took pictures and the crowd gave a standing ovation. He was played by Dylan Baker
in the 2010 film Secretariat
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
well known for his pioneering contribution in the field of development economics
Development economics
Development Economics is a branch of economics which deals with economic aspects of the development process in low-income countries. Its focus is not only on methods of promoting economic growth and structural change but also on improving the potential for the mass of the population, for example,...
.
Early life
Chenery was born in RichmondRichmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...
, son of Christopher Chenery
Christopher Chenery
Christopher Tompkins Chenery was an American engineer, businessman, and owner/breeder of Thoroughbred horse racing's U.S. Triple Crown champion Secretariat....
, a businessman and horseman. He was educated in Virginia, Pelham Manor, New York
Pelham Manor, New York
Pelham Manor is a village located in Westchester County, New York, USA. As of the 2010 census, the village had a total population of 5,486. It is located in the town of Pelham.- Demographics :...
and at the universities of Arizona and Oklahoma. He served in the United States Army Air Corps
United States Army Air Corps
The United States Army Air Corps was a forerunner of the United States Air Force. Renamed from the Air Service on 2 July 1926, it was part of the United States Army and the predecessor of the United States Army Air Forces , established in 1941...
in World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
. After the war he earned Master degrees from California Institute of Technology
California Institute of Technology
The California Institute of Technology is a private research university located in Pasadena, California, United States. Caltech has six academic divisions with strong emphases on science and engineering...
and the University of Virginia
University of Virginia
The University of Virginia is a public research university located in Charlottesville, Virginia, United States, founded by Thomas Jefferson...
and a Ph.D. from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
(awarded 1950).
Career
He worked as a professor of economics at Stanford from 1952 to 1961, as a Guggenheim fellow in 1961 and joined the United States Agency for International DevelopmentUnited States Agency for International Development
The United States Agency for International Development is the United States federal government agency primarily responsible for administering civilian foreign aid. President John F. Kennedy created USAID in 1961 by executive order to implement development assistance programs in the areas...
in 1961, and rose to become an assistant administrator. In 1965 he became a professor of economics at Harvard. He worked as the World Bank's vice president for development policy from 1972 through to 1982.
Chenery's work was wide ranging but might be summarised as involving the analysis of patterns of development, the use of a two-gap model and multi-sectoral analysis.
Horse racing fame
After his father died in January 1973, his sister Penny CheneryPenny Chenery
Helen Bates "Penny" Chenery Tweedy is an American sportswoman who bred and raced Secretariat, the 1973 winner of the Triple Crown...
raced Secretariat
Secretariat (horse)
Secretariat was an American Thoroughbred racehorse, that in 1973 became the first U.S. Triple Crown champion in 25 years, setting new race records in two of the three events in the Series—the Kentucky Derby , and the Belmont Stakes —records that still stand today.Secretariat was sired by Bold...
on behalf of the family. Secretariat became the first horse in 25 years to win the American Triple Crown
United States Triple Crown of Thoroughbred Racing
In the United States, the "Triple Crown" is usually the Triple Crown of Thoroughbred Racing, a series of three Thoroughbred horse races for three-year-old horses run in May and early June of each year consisting of the Kentucky Derby, Preakness Stakes, and Belmont Stakes.While Daily Racing Form...
, with record-setting victories in the Kentucky Derby
Kentucky Derby
The Kentucky Derby is a Grade I stakes race for three-year-old Thoroughbred horses, held annually in Louisville, Kentucky, United States on the first Saturday in May, capping the two-week-long Kentucky Derby Festival. The race is one and a quarter mile at Churchill Downs. Colts and geldings carry...
, the Preakness
Preakness Stakes
The Preakness Stakes is an American flat Thoroughbred horse race for three-year-olds held on the third Saturday in May each year at Pimlico Race Course in Baltimore, Maryland. It is a Grade I race run over a distance of 9.5 furlongs on dirt. Colts and geldings carry 126 pounds ; fillies 121 lb...
and the Belmont Stakes
Belmont Stakes
The Belmont Stakes is an American Grade I stakes Thoroughbred horse race held every June at Belmont Park in Elmont, New York. It is a 1.5-mile horse race, open to three year old Thoroughbreds. Colts and geldings carry a weight of 126 pounds ; fillies carry 121 pounds...
. After Secretariat's victory in the Belmont Stakes, Hollis Chenery led the horse down the walkway to the winner's circle as cameras took pictures and the crowd gave a standing ovation. He was played by Dylan Baker
Dylan Baker
Dylan Baker is an American actor, known for playing supporting roles in both major studio and independent films.-Early life:...
in the 2010 film Secretariat
Secretariat (film)
Secretariat is a 2010 biographical film produced by Walt Disney Pictures and Mayhem Pictures, and directed by Randall Wallace. The film chronicles the life of thoroughbred race horse Secretariat, winner of the Triple Crown in 1973...
.
Selected works
His major works include:- (1952) Overcapacity and the Acceleration Principle, Econometrica
- (1959) Interindustry Economics, with P. Clark
- (1960) Patterns of Industrial Growth, American Economic Review
- (1961) Comparative Advantage and Development Policy, American Economic Review
- (1966) Foreign Assistance and Economic Development, American Economic Review, with A. Strout
- (1971) Studies in Development Planning, with others
- (1974) Redistibution with Growth: An approach to policy, with others
- (1975) Patterns of Development, 1950–1970, with R. Syrquin
- (1975) A Structuralist Approach to Development Policy, 1975, American Economic Review
- (1979) Structural Change and Development Policy
- (1983) Interaction Between Theory and Observation, World Development