Economy - Publications - Faculty & Research

16 Apr 2020
Research & Ideas

Has COVID-19 Broken the Global Value Chain?

The coronavirus pandemic has not only disrupted lives and businesses, it has illuminated underlying fragilities in the global value chain (GVC) that drives economies around the world. The smartphone you use many times daily is a product... View Details

Keywords: by Sean Silverthorne

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Marketing Awards & Honors - Faculty & Research

from the Indian Institute of Technology (IIT) in Bombay. Isamar Troncoso : Selected as an INFORMS Doctoral Consortium Fellow in 2019. Shunyuan Zhang : Runner up for the 2019 Nunamaker-Chen Dissertation Award from INFORMS Information Systems Society (ISS) for “A... View Details

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William R. Kerr | About

themes and disseminates to broader audiences through platforms like the MFW podcast series . Bill’s recent book is The Gift of Global Talent: How Migration Shapes Business, Economy & Society . It explores the global race for talent and... View Details

September 2010
Case

Angola and the Resource Curse

By: Aldo Musacchio, Eric D. Werker and Jonathan Schlefer

Since emerging from decades of conflict in 2002, Angola has been growing at a scorching double-digit rate, led by its oil industry. But the nation remains beset with seemingly intractable problems: immense inequality, low life expectancy, a non-diversified economy, and... View Details

Keywords: Crime and Corruption; Developing Countries and Economies; Financial Crisis; Borrowing and Debt; Financial Institutions; Globalized Economies and Regions; Policy; Government Administration; Emerging Markets; Natural Environment; Angola

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07 Jul 2003
What Do You Think?

Can We Have Too Much Productivity Improvement?

Summing Up There was a wide divergence of opinion on this month's column. A surprising number of respondents concluded that an economy could suffer, at least in the short-run, from too much productivity improvement. But many suggested... View Details

Keywords: by James Heskett

25 Mar 2019
Research & Ideas

The Secret Life of Supply Chains

Like archaeologists digging on a remote hillside, business researchers have unearthed an important segment of the United States economy all but hidden from traditional innovation policy, yet accounting for tens of millions of jobs crucial... View Details

Keywords: by Michael Blanding; Manufacturing; Service

03 Jun 2022
Research & Ideas

In a Work-from-Anywhere World, How Remote Will Workers Go?

first time that the high school has had an African-American debate coach. It’s a win-win for the workers and the community. I expect many towns to try something similar.” Ultimately, Choudhury says, employees, companies, and local View Details

Keywords: by Kara Baskin

January 2021 (Revised August 2021)
Case

ByteDance: TikTok and the Trials of Going Viral

By: William C. Kirby and John P. McHugh

In 2020, TikTok became the most valuable start-up ever. The short-form, video-sharing social media platform emerged as the crown jewel of the Chinese technology firm ByteDance, realizing 850 million monthly users and an estimated worth of $180 billion. However, a... View Details

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Research Summary

Overview

By: Ethan C. Rouen

Relying on empirical archival methodologies—as well as techniques in data science—to develop and structure new sources of data by which to approach questions of looming disclosure changes, Professor Rouen has focused on one of the Securities and Exchange Commission’s... View Details

26 Nov 2001
Research & Ideas

How Toyota Turns Workers Into Problem Solvers

small part of the larger whole. To a certain extent, this is because of the advantages of specialization that Adam Smith identified in pin manufacturing as long ago as 1776 in The Wealth of Nations. However, it goes beyond the economies... View Details

Keywords: by Sarah Jane Johnston; Manufacturing; Transportation; Auto

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2022 Reunion Presentations - Alumni

Western leadership; the United States’ weakened economy after 2008; post-COVID deficits and debt in Latin America, Africa and Europe; and the conditions of energy and commodity markets post-Ukrainian war. Slides June 10-11 Reunion... View Details

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Buy Now, Pay Later: Credit and the Market Economy: The Rise of Credit Reporting

the 1800s, the American economy embarked on a long, slow transition from a system in which most goods and services were produced for household consumption or local sale to an economy in which commodities... View Details

04 Feb 2022
Book

Beyond the Cold War: Reinventing Socialism in 5 Countries

Although many view socialism through the rigid lens of Soviet orthodoxy, it has always been a work in progress and an evolving and adaptable ideology on a global scale, says Harvard Business School Marvin Bower Associate Professor Jeremy Friedman. In his new book, Ripe... View Details

Keywords: by Dina Gerdeman

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Strategy & IT - Institute For Strategy And Competitiveness

HBS ISC Strategy Strategy Strategy Explained Business Strategy Creating a Successful Strategy Corporate Strategy The Role of Leaders Related Topics Related Topics Related Topics Strategy & IT Strategy for Universities & Nonprofits Strategy in Emerging View Details

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Finance Awards & Honors - Faculty & Research

Christopher Malloy, “The Small World of Investing: Board Connections and Mutual Fund Returns” ( Journal of Political Economy , October 2008). Lauren H. Cohen : Won the 2007 Smith Breeden Distinguished Paper Prize for the Best Paper in the... View Details

16 Aug 2011
Working Paper Summaries

Managing Political Risk in Global Business: Beiersdorf 1914-1990

Keywords: by Geoffrey Jones & Christina Lubinski; Beauty & Cosmetics

September 2011
Article

Political Instability: Effects on Financial Development, Roots in the Severity of Economic Inequality

By: Mark J. Roe and Jordan I. Siegel

We here bring forward strong evidence that political instability impedes financial development, with its variation a primary determinant of differences in financial development around the world. As such, it needs to be added to the short list of major determinants of... View Details

Keywords: Financial Development; Political Instability; Government and Politics; Finance; Growth and Development; Economics; Equality and Inequality

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Roe, Mark J., and Jordan I. Siegel. "Political Instability: Effects on Financial Development, Roots in the Severity of Economic Inequality." Journal of Comparative Economics 39, no. 3 (September 2011): 279–309. (We here bring forward strong evidence that political instability impedes financial development, with its variation a primary determinant of differences in financial development around the world. As such, it needs to be added to the short list of major determinants of financial development. First, structural conditions first postulated by Engerman and Sokoloff (2002) as generating long-term inequality are shown here empirically to be exogenous determinants of political instability. Second, that exogenously-determined political instability in turn holds back financial development, even when we control for factors prominent in the last decade's cross-country studies of financial development. The findings indicate that inequality-perpetuating conditions that result in political instability are fundamental roadblocks for international organizations like the World Bank that seek to promote financial development. The evidence here includes country fixed effect regressions and an instrumental model inspired by Engerman and Sokoloff's (2002) work, which to our knowledge has not yet been used in finance and which is consistent with current tests as valid instruments. Four conventional measures of national political instability — Alesina and Perotti's (1996) well-known index of instability, a subsequent index derived from Banks' (2005) work, and two indices of managerial perceptions of nation-by-nation political instability — persistently predict a wide range of national financial development outcomes for recent decades. Political instability's significance is time consistent in cross-sectional regressions back to the 1960's, the period when the key data becomes available, robust in both country fixed-effects and instrumental variable regressions, and consistent across multiple measures of instability and of financial development. Overall, the results indicate the existence of an important channel running from structural inequality to political instability, principally in nondemocratic settings, and then to financial backwardness. The robust significance of that channel extends existing work demonstrating the importance of political economy explanations for financial development and financial backwardness. It should help to better understand which policies will work for financial development, because political instability has causes, cures, and effects quite distinct from those of many of the key institutions most studied in the past decade as explaining financial backwardness.)

07 Aug 2012
Working Paper Summaries

Financial vs. Strategic Buyers

Keywords: by Marc Martos-Vila, Matthew Rhodes-Kropf & Jarrad Harford

August 2014 (Revised September 2016)
Case

ANA (A)

By: Doug J. Chung and Mayuka Yamazaki

All Nippon Airways (ANA) became the largest airline in Japan in 2013. Having been designated as a domestic carrier by the Japanese government till the mid-1980s and Japan being the sixth largest domestic airline market, two-thirds of ANA’s passenger revenue came from... View Details

Keywords: Demand and Consumers; Analysis; Economics; Price; Marketing Strategy; Competitive Strategy; Product; Policy; Air Transportation Industry; Japan

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2013
Working Paper

Management: Theory and Practice, and Cases

By: Richard L. Nolan

This working paper reports on a major Harvard Business School project designed to enhance MBA and practicing executives in case learning. The work is built on the foundation of HBS field cases employing the monomyth "hero's journey" classic story structure along... View Details