Stephen Gelb is an Honorary Associate of the Business, Markets and the State cluster.

Stephen Gelb leads on Private Sector Development at the Overseas Development Institute (ODI), where he is Principal Research Fellow. He did economic research in South Africa for thirty years, including advising Presidents Mandela and Mbeki on macroeconomic policy and domestic and foreign private investment. He established an independent policy research institute in Johannesburg, which he led for ten years. He has taught postgraduate economics, political science and development studies in South Africa, Canada, the US and Switzerland.

He has written extensively on macroeconomics, foreign direct investment, and political economy in South Africa;; on outward foreign investment from China;; and on FDI and value chains in many industries. His work has been shaped by a long-­standing interest in businesses’ strategy and decision processes, and their economic and political effects. His current research focusses on the links between corporate strategy, corporate collective action and ESG outcomes;; on economic resource flows associated with migration; on the renewal of political economy; on the development impact of FDI and value chains; and on enterprise and skills development in low-­income countries.