Dr Penelope Pacheco-Lopez, a former PhD student and Post-Doctoral Fellow in Economics 2000-2005, who now works for UNIDO in Vienna, has won the Juan Noyola Prize (worth US$4,000) for the best article published in 2009 in the prestigious Mexican journal, Investigacion Economica, entitled ” Efectos de la Liberalizacion Comercial en el Crecimiento Economico y la Balanza de Pagos en America Latina” (“The Effect of Trade Liberalisation on Economic Growth and the Balance of Payments in Latin America”), Vol. 68, No.267.