Caves added that his own academic interests limited his interaction with Summers but that Summers' achievements have still come as somewhat of a surprise.
"The fields I work in aren't really related to what he does," he said, "but what one observed about him as a professor did not really forecast what he would become."
He continued, "One did not then expect him to emerge with greatness, but he has changed his spots with great success."
Summers is slated to serve as a faculty participant in an international workshop on privatization, regulatory reform and corporate governance at the Harvard Institute for International Development. It is as yet unclear if Summers' nomination will affect his participation.
It is expected that the Senate will speedily approve Clinton's nomination.
"Rarely has any individual been so well-prepared to be secretary of the Treasury." --President Bill Clinton, speaking about Lawrence Summers