Felipe Herrera Lane (1922-1996), a Chilean banker and economist, became one of the major architects of economic development because of his key position as president of the Inter-American Development Bank.

Felipe Herrera was born in Valparaiso, Chile, on June 17, 1922. Although he was originally intended for a military career, he did not complete his studies at the Escuela Militar but transferred to the law school of the University of Chile in Santiago. He received his degree in 1946 and became an attorney for the Central Bank of Chile, continuing a relationship begun in 1943, when he had been employed by the bank's legal department. He married Rosa Alamos in June 1947. In 1961 he was remarried, to Ines Olmo.

Successful Economist

Although Herrera for a time maintained a private law practice, his major energies soon became focused on banking and economic affairs. He had become interested in the study of economics while at...