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Máximo Torero was senior research Fellow at IFPRI and leader of the Global Research Program on Institutions and Infrastructure for Market Development. Prior to that, he was a senior researcher and member of the executive committee at Group of Analysis for Development (GRADE). He received his Ph.D. from the University of California at Los Angeles Department of Economics, is a professor on leave at the Universidad del Pacífico, and was postdoctoral fellow at the UCLA Institute for Social Science Research (ISSR). Dr. Torero"s major research work lies mostly in analyzing poverty, inequality, importance of geography and assets (private or public) in explaining poverty, and in policies oriented towards poverty alleviation based on the role played by infrastructure, institutions, and on how technological breakthroughs (or discontinuities) can improve the welfare of households. He has won twice the World Award for Outstanding Research on Development given by the Global Development Network (GDN).