Eric Santor was appointed Advisor to the Governor on Digitalization effective March 11, 2019. In this role, he leads the Bank’s digitalization work, including research into the impact of digitalization on the economy and financial system. Mr. Santor also leads the initiative to incorporate technologies such as artificial intelligence and machine learning as well as big data into the Bank’s operations. This involves leveraging programs such as Partnerships in Innovation and Technology (PIVOT) and the Bank’s relationship with the Creative Destruction Lab.
Mr. Santor joined the Bank in 2001 as an economist in the former Monetary and Financial Analysis Department. He moved to the International Economic Analysis Department in 2003, where he assumed increasing responsibilities until becoming Managing Director in 2013. Before his appointment as Advisor to the Governor on Digitalization, Mr. Santor served as Managing Director of the Bank’s Canadian Economic Analysis Department.
Mr. Santor’s research has focused on issues relating to the incidence and effects of unconventional monetary policy, the international monetary system and global financial architecture, and the impact of ownership structure on Canadian firms.
Mr. Santor was born in London, Ontario. He completed his BA in History and Political Science at Huron College, University of Western Ontario, and his PhD in Economics at the University of Toronto.
Staff Discussion Papers
Staff Working Papers
Financial Constraints and Investment: Assessing the Impact of a World Bank Loan Program on Small and Medium-Sized Enterprises in Sri LankaThe authors examine the investment behaviour of a sample of small, credit-constrained firms in Sri Lanka. Using a unique panel-data set, they analyze and compare the activities of two groups of small firms distinguished by their different access to financing; one group consists of firms with heavily subsidized loans from the World Bank, and the other consists of firms without such subsidies.
Do Peer Group Members Outperform Individual Borrowers? A Test of Peer Group Lending Using Canadian Micro-Credit DataMicrofinance institutions now serve over 10 million poor households in the developing and developed world, and much of their success has been attributed to their innovative use of peer group lending. There is very little empirical evidence, however, to suggest that group lending schemes offer a superior institutional design over lending programs that serve individual borrowers.
- "Does the Microfinance Lending Model Actually Work?"
(with Rafael Gomez), Whitehead Journal of Diplomacy and International Relation, Volume IX, No. 2 Summer/Fall 2008.
- "Foreign Asset Risk Exposure, DOI, and Performance: An Analysis of Canadian Banks"
(with Walid Hejazi), Journal of International Business Studies, forthcoming.
- "Migration, Social Networks and Credit: Empirical Evidence from Peru"
(with Sonia Laszlo), The Developing Economies, forthcoming.
- "Renewing IMF Surveillance: Transparency, Accountability and Independance"
(with Robert Lavigne and Philipp Maier), Review of International Organizations, March 2009, 4: 1.
- "Family Values: Ownership Structure, Performance and Capital Structure of Canadian Firms",
(with Michael R. King), Journal of Banking and Finance, 2008, 32: 11, p. 2423-2432.
- "Financial Constraints and Investment: Assessing the Impact of a World Bank Loan Program on Small and Medium-Sized Enterprises in Sri Lanka"
(with Varouj Aivazian), Canadian Journal of Economics, 2008, 41: 2, p. 475-500.
- "Membership has its privileges: the effect of social capital and neighborhood characteristics on the earnings of microfinance borrowers,"
(with Rafael Gomez), Canadian Journal of Economics, 2001, 34: 4, 943-966
- "Central Bank Balance Sheets and Long Term Forward Rates,"
(with Eric Santor and Lena Suchanek) In Interest Rates, Prices and Liquidity: Lessons from the Financial Crisis, edited by Jagjits S. Chadha and Sean Holly.New York: Cambridge University Press, p.172-194.