Elena Panaritis, author ofÂ ProsperityÂ Unbound: Building Property Markets with TrustÂ (Palgrave Macmillan, 2007 -www.prosperityunbound.com), is a social entrepreneur, institutional economistÂ and policy innovator.Â Ms. Panaritis is also one of the pioneers of â€œtriple-bottom-lineâ€ social entrepreneurship. She foundedÂ Panel Group,Â www.panelgroup.com, a company that transforms informality (illiquid real assets). The firm leverages Ms. Panaritisâ€™ methodology and knowledge in creating stable property rights systems around the world, and applies reform techniques funded entirely through private investment. The reforms undertaken by key stakeholders produce significant social, environmental, and financial returns.Â Panel GroupÂ closed a fund and currently implements an initial municipal model project inÂ BulgariaÂ She has also foundedÂ PG Thought for Action, an educational foundation to create awareness about transforming informal propertyÂ http://www.prosperityunbound.
Elena Panaritis spent years convincing policymakers, development organizations, and local stakeholders in Peru that transformation of informal property rights is possible and that it carries sustainable economic, financial and social dividends. The actual reform application though took only three years and succeeded in bringing over 9 million Peruvians into the formal economy.Â Â She has worked in numerous countries identifying informality and developed the methodology â€œReality Check Analysisâ€ as a diagnostic tool that leads to the tailored solution of transforming informality to robust formal markets.Â Â She captures that experience in her bookÂ ProsperityÂ UnboundÂ and affirms her belief of triple-bottom-line model of social entrepreneurship as a catalyst for positiveÂ change. Ms. Panaritis was awarded theÂ International Best Practice and Innovation award.
Robert Litan, Senior Fellow at the Brookings Institute and Vice President for Research and Policy at the Ewing Marion Kauffman Foundation of Entrepreneurship calls her workÂ â€œa real contribution.â€
In his Financial TimesÂ online column, Willem Buiter, an LSE professor and former chief economist at the European Bank for Reconstruction and Development also praises Ms. Panaritis ideas and reform efforts. He singles outÂ â€œuselessâ€Â andÂ â€œharmfulâ€finance based on derivatives to task and writes thatÂ â€œeffective and efficient financial intermediation is a necessary condition forprosperity.â€Â In contrast, he refers to Ms. Panaritisâ€™ work asÂ â€œuseful financeâ€Â and continues:Â â€œThe world described in [ProsperityUnbound], where the foundations of a productive market economy are being put in place, appears light years removed from the world of Wall Street …â€