Arminio Fraga "is the owner of Gávea Investimentos, a global and domestic hedge fund based in Rio de Janeiro. He served as the governor of the Central Bank of Brazil between March 1999 and January 2003. His work at the Central Bank has been credited with helping to put an end to the country’s historic hyperinflation and calming international markets during the Cardoso administration. Fraga received his Ph.D. in economics from Princeton University in 1985. He obtained his B.A. and M.A. in economics from Pontifícia Universidade Católica do Rio de Janeiro (PUC). Fraga has not only been active in the world of financial markets. He has published numerous articles addressing monetary policy, exchange rates, crisis prevention, banking deregulation, and many other policy issues. He has been a professor at the Graduate School in Economics at the Fundação Getúlio Vargas in Rio de Janeiro; the School of International Affairs at Columbia University; the Wharton School at the University of Pennsylvania; and the Pontifícia Universidade Católica do Rio de Janeiro." 
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- Directors, Social Science Research Council, accessed December 18, 2007.