Aldo Musacchio

Aldo MusacchioAssociate Professor of Business in the Brandeis International Business School 
Chair of the Business Program (Undergraduate)

My research focuses on the ways in which governments support domestic firms to compete at home and abroad. My focus areas include the strategy of national champions; the role of state-owned enterprises, development banks and sovereign wealth funds; corporate governance in state-owned enterprises; innovation in global firms; innovation in South American firms; and the strategies of multinationals in emerging and frontier markets. Learn more at

Aldo Musacchio is an associate professor of Strategy and International Business, Program Director of the Masters in International Economics and Finance, and Director of the Brazil and Latin America Initiatives at IBS. He is a specialist on strategy and corporate governance in multinationals; innovation and industrial policy in emerging markets; among other topics. Prof. Musacchio teaches Competition and Strategy and Strategy in Emerging Markets for graduate students and a course on Competitive Strategy in the technology sector for undergraduate students. 

His research focuses on the internationalization strategies of state-owned enterprises and the innovation behavior of large multinationals with government financial support. In his book, Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond (Harvard Press, 2014), Prof. Musacchio and his coauthor Sergio G. Lazzarini study the corporate governance reforms of state-owned enterprises around the world and look into the pitfalls of such reforms. In this book Musacchio and Lazzarini also study the advantages and disadvantages firms get when they receive financial support from their home country governments. He is currently working on a book for the Inter-American Development Bank on how to Reform the Corporate and Fiscal Governance of State-Owned Enterprises: The Latin American Case. 

Prof. Musacchio values the application of his work in both public policy and corporate strategy. He consults for multilateral agencies such as the OECD and the Inter-American Development Bank on corporate governance reform in state-owned firms. Musacchio also consults for multinationals expanding into emerging and frontier markets and is active investor in angel funds and startups in Latin America.

Before joining IBS Prof. Musacchio was an Associate Professor and Marvin Bower Fellow at Harvard Business School, as part of the Business, Government, and International Economy Unit (BGIE). He is also a Faculty Research Fellow at the National Bureau of Economic Research (NBER), in the Development of the American Economy program. Musacchio has a B.A. in economics (with highest honors) from ITAM, in Mexico, and an M.A. and Ph. D. in Economic History of Latin America from Stanford University. In 2012, he won the Manuel Espinosa Yglesias Prize for his research on foreign banks in Mexico (together with Stephen Haber) and was awarded the 2012 Prize for Professional/Academic Meirt by the Alumni Association of ITAM (EX-ITAM). Prior to that he won the Cole Prize for the Best Paper in the Journal of Economic History (2008) and the European Banking History Association's Feldman Prize for the best paper by a young scholar. In 2007 he was selected as one of the “30 most promising professionals in their thirties (30 promesas en los treintas)” by Mexican business magazine Expansion. Prof. Musacchio has been a member of the board of trustees of LASPAU: Academic and Professional Programs for the Americas, a nonprofit organization dedicated to advancing higher education in the Americas, and a large number of business schools in Latin America. 

His teaching experience includes executive education at Harvard Business School, where he led the Building Business in Emerging Markets Program, FGV-YPO Program, the IPADE-INALDE Latin AMerican Management Program, TEC de Monterrey, ESE CHile, YPO Latin America, and the Advanced Management Program at Reykjavik University.