Publications

Educators

Purchase

February 2000
Article

Location, Competition and Economic Development: Local Clusters in a Global Economy

Keywords: Competition; Economics; Growth and Development; Global Range; Geographic Location; Economy

September 2023 (Revised March 2025)
Teaching Note

Accelerating AI Adoption in the U.S. Air Force

By: Maria P. Roche

Teaching Note for HBS Case No. 723-429. View Details

Keywords: AI; ＂USA,＂; Military; Strategy; Innovation; Economic Growth; Organizational Design; Technology

Purchase

December 1969
Article

A Golden Golden-Rule for Welfare-Maximization in an Economy with a Varying Population Growth Rate

By: Robert C. Merton

Keywords: Welfare; Economy; Growth and Development

February 2016
Article

Positive and Normative Judgments Implicit in U.S. Tax Policy, and the Costs of Unequal Growth and Recessions

By: Benjamin B. Lockwood and Matthew Weinzierl

Calculating the welfare implications of changes to economic policy or shocks to the economy requires economists to decide on a normative criterion. One way to make that decision is to elicit the relevant moral criteria from real-world policy choices, converting a... View Details

Keywords: Judgments; Taxation

2002
Chapter

Institutional Change and Economic Growth: Banks, Financial Markets, and Mexican Industrialization, 1878-1913

By: Noel Maurer and Stephen Haber

Keywords: History; Organizational Change and Adaptation; Financial Markets; Economic Growth; Developing Countries and Economies; Banks and Banking; Banking Industry; Financial Services Industry; Mexico

01 Dec 1997
News

Making Real Progress in the Middle East: The Bottom-Up, Economic Solution

catalyst for growth in the neighboring countries, in much the same role as Japan played in Asia. Such collaborative activity across borders is common in other regions, but until recently has been all but absent in the Middle East. Even... View Details

Keywords: Michael Porter, Yagil Weinberg, and Noreena Hertz

2000
Manual

Globalization and Growth: Cases in National Economic Strategies - Teaching Manual

By: Robert E. Kennedy and Richard H. K. Vietor

Keywords: Globalization; Business Growth and Maturation

November 2013 (Revised September 2015)
Case

Doing Business in Cambodia

By: Felix Oberholzer-Gee and Dawn H. Lau

This case examines the challenges and opportunities of doing business in Cambodia. It highlights Cambodia's economic transformation in the decades leading up to 2013 in the context of its history, culture, and politics. View Details

Keywords: Cambodia; Economic Stability; Economic Development; Emerging Markets; Economic Growth; Southeast Asia

Educators

26 Oct 2010
Other Presentation

Anchor Institutions and Urban Economic Development: From Community Benefit to Shared Value

ProfessorMichael E. Porter: Initiative for a Competitive Inner CityCopyright View Details

Keywords: Economics; Growth and Development; United States

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

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.)

1 Nov 2010
Other Presentation

The Icelandic Geothermal Cluster: Enhancing Competitiveness and Creating a new Engine of Icelandic Growth

Presentation on competitiveness and clusters View Details

Keywords: Economics; Iceland

27 Jun 2014
Working Paper Summaries

Positive and Normative Judgments Implicit in US Tax Policy and the Costs of Unequal Growth and Recessions

Keywords: by Benjamin Lockwood & Matthew Weinzierl

2002
Other Unpublished Work

Clusters of Innovation Initiative: Pittsburgh

This regional report examines the composition and performance of the Pittsburgh regional economy, how industry clusters developed and innovation arose, how clusters affected the region's economic future, and how the region can establish a strategy and action program to... View Details

Keywords: Clusters; Economics; Industry Clusters; Economy; Growth and Development; Pittsburgh

2001
Other Unpublished Work

Clusters of Innovation Initiative: Atlanta-Columbus

This regional report examines the composition and performance of the Atlanta regional economy, how industry clusters developed and innovation arose, how clusters affected the region's economic future, and how the region can establish a strategy and action program to... View Details

Keywords: Clusters; Economics; Industry Clusters; Economy; Growth and Development; Atlanta

August 16, 2004
Other Article

Danmark går glip af ny vækstmodel [Denmark is Missing Out on a New Growth Model: Clusters]

By: Christian H.M. Ketels

Keywords: Economics; Growth and Development; Denmark