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- Faculty Publications (65)
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- Article
The Asymmetric Experience of Positive and Negative Economic Growth: Global Evidence Using Subjective Well-being Data
By: Jan-Emmanuel De Neve, George Ward, Femke De Keulenaer, Bert Van Landeghem, Georgios Kavetsos and Michael I. Norton
Are individuals more sensitive to losses than gains in terms of economic growth? We find that measures of subjective well-being are more than twice as sensitive to negative as compared to positive economic growth. We use Gallup World Poll data from over 150 countries,... View Details
- Article
Space, the Final Economic Frontier
After decades of centralized control of economic activity in space, NASA and U.S. policymakers have begun to cede the direction of human activities in space to commercial companies. NASA garnered more than 0.7% of GDP in the mid-1960s but is only around 0.1% of GDP... View Details
- 2017
- Working Paper
The Role of Taxes in the Disconnect Between Corporate Performance and Economic Growth
By: Urooj Khan, Suresh Nallareddy and Ethan Rouen
We investigate the relation between the growth in corporate profits and the overall U.S. economy, focusing on the impact of the U.S. corporate tax regime on this relation. We document that the growth of corporate profits, on average, has outpaced the growth of the... View Details
- 2017
- Working Paper
Lessons Unlearned? Corporate Debt in Emerging Markets
By: Laura Alfaro, Gonzalo Asis, Anusha Chari and Ugo Panizza
This paper documents a set of new stylized facts about leverage and financial fragility for emerging market firms following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial Crisis (AFC) attributed to corporate... View Details
- January 2017 (Revised April 2019)
- Case
The Olmos Project: Value Creation and Value Capture
By: John Macomber, Fernanda Miguel, Laura Urdapilleta and Valeria Moy
Private investment in public infrastructure can be encouraged when there are multiple avenues to capture and to share the value created by such a project. Gains in the market value of land adjacent to projects are not customarily channeled back into defraying the... View Details
Keywords: Value Capture; Infrastructure; Decision Making; Agribusiness; Value Creation; South America; Peru
- 2016
- Blog
Building A Culture of Health - John A. Quelch: Creating A Culture of Health
By: John A. Quelch
All American companies are in the health business whether they like it or not. The private sector directly pays for one-fifth of the whopping 17.5% of GDP spent on healthcare in the United States. Rather than viewing health merely as an insurance expense to be... View Details
Keywords: Building A Culture Of Health; Intersection Of Healthcare And Business; Impact Of Healthcare On Business; Population Health Footprint; Healthcare As An Investment; Change; Education; Health; Human Resources; Labor; Leadership; Management; Marketing; Operations; Performance; Personal Development and Career; Problems and Challenges; Risk and Uncertainty; Strategy; Value; Health Industry; Insurance Industry; Canada; North America; United States
- 2016
- Blog
Building A Culture of Health - John A. Quelch: The Marketing of Prevention
By: John A. Quelch
The US will devote 17.5% of GDP to health care this year, around $3 trillion. Yet only 3 percent of that will be spent on prevention, including both primary prevention (preventing illness in the first place) and secondary prevention (preventing sick people getting... View Details
- June 2015 (Revised February 2017)
- Teaching Note
Shanghai: GDP Apostasy
By: George Serafeim, Rebecca Henderson and David Freiberg
- April 2015
- Tutorial
Introduction to International Macroeconomics
By: Laura Alfaro and Elizabeth A. Meyer
This tutorial is a web-based, interactive program which will provide students with an introduction to the basic principles of macroeconomics and international macroeconomics. View Details
- April 2015
- Teaching Note
International Macroeconomics — An Online Tutorial
By: Laura Alfaro and Elizabeth A. Meyer
This is the Teaching Note to accompany "International Macroeconomics", HBS Tutorial 715-702. View Details
- March 2015 (Revised February 2017)
- Case
Shanghai: GDP Apostasy
By: George Serafeim
Balancing economic growth alongside environmental sustainability and social inclusion was becoming increasingly important in China. The case describes Shanghai's decision to abandon growth of Gross Domestic Product (GDP) as its primary metric of measuring success.... View Details
Keywords: China; Gdp; Measurement; Measurement Problems; Accountability; Sustainability; Sustainable Development; Strategy Execution; Strategy; Balanced Scorecard; Strategy Map; Macroeconomics; Measurement and Metrics; Corporate Accountability; Accounting; Environmental Sustainability; Development Economics; Corporate Governance; Shanghai
- December 2014 (Revised May 2019)
- Case
Bhutan: Governing for Happiness
By: Sophus A. Reinert, Thomas Humphrey and Benjamin Safran
Unique among the world’s countries, the Himalayan Kingdom of Bhutan had abandoned the traditional policy goal of increasing Gross Domestic Product (GDP) in favor of pursuing Gross National Happiness (GNH). Famously, Bhutan ranked highly on lists of the happiest... View Details
- May 14, 2014
- Editorial
In Terms of Social Progress, America Is Not #1—It's #16
As Americans, we like to think of ourselves as a world leader. After all, the United States has the largest economy in the world and is near the very top in GDP per capita. We are used to thinking that we lead on social issues like education, access to information, and... View Details
Keywords: Society
- April 2014 (Revised January 2015)
- Background Note
Note on Mobile Healthcare
By: John A. Quelch and Margaret L. Rodriguez
Delivering health care to the global population was a challenge. Health care costs accounted for ten percent of world GDP by 2013. In the U.S., health care costs were expected to top $3.1 trillion in 2014. New technologies, shortages of trained personnel and... View Details
Keywords: Health Care; Mobile; Mobile App; Public Health; Startups; Hardware; Software; Telemedicine; Global; Medical Devices; Medical Services; Medical Solutions; Entrepreneurs; Government And Business; Technological Change; Health Care and Treatment; Entrepreneurship; Government and Politics; Technological Innovation; Applications and Software; Information Infrastructure; Health Industry; Technology Industry
- January 2014 (Revised February 2016)
- Case
U.S. Government Debt and the Debate over a Balanced Budget Amendment
By: Matthew Weinzierl, Katrina Flanagan and Alastair Su
In the first decade of the 21st century, national debt as a share of GDP rose dramatically in the United States and across the developed world. This case consists of excerpts from leading commentators explaining and commenting on this trend and the economic and moral... View Details
- January 12, 2014
- Other Article
Better Measuring a Country: GDP Is Not the Best Way to Quantify National Success
- Forthcoming
- Chapter
Oil, Macroeconomic Volatility and Crime in the Determination of Beliefs in Venezuela
By: Rafael Di Tella, Javier Donna and Robert MacCulloch
Book Abstract: At the beginning of the twentieth century Venezuela had one of the poorest economies in Latin America, but by 1970 it had become the richest country in the region and one of the twenty richest countries in the world, ahead of countries such as Greece,... View Details
- December 2013 (Revised April 2014)
- Case
Seeding Growth in the Democratic Republic of the Congo
By: Ray Goldberg, Carin-Isabel Knoop and Djordjija Petkoski
By 2013, the agricultural sector in the Democratic Republic of the Congo (DRC) had long suffered from war, political instability, and dilapidated infrastructure. A country with 75 million inhabitants and the second lowest GDP per capita in the world in 2011, the DRC's... View Details
Keywords: National Agricultural Investment Plan (PNIA); Developing Agriculture; World Bank; Poverty Reduction; Special Economic Zones (SEZs); Small-scale Farmers; Agricultural Business Parks; Agriculture Reform; Agribusiness; Economic Growth; Infrastructure; Agriculture and Agribusiness Industry; Africa; Congo, Democratic Republic of the
- June 2013 (Revised June 2013)
- Teaching Note
Brazil's Enigma: Sustaining Long-Term Growth & Currency Wars
By: Laura Alfaro and Hilary White
Over the past decade, Brazil's future as a leading world economic power appeared certain. An expanding middle class and commodity boom had fueled economic growth, with GDP growth hitting a peak of 7.5% in 2010. However, the high cost of conducting business in Brazil,... View Details
Keywords: Exchange Rate; Inflation; Inflation Targeting; Industrialization; Infrastructure; Currency; Capital Controls; Stimulus; Commodity Prices; Manufacturing Costs; Globalization; Productivity Growth; Economics; Economic Slowdown and Stagnation; Inflation and Deflation; Macroeconomics; Public Sector; Brazil; South America; Latin America
- 2013
- Working Paper
Adjusting National Accounting for Health: Is the Business Cycle Countercyclical?
By: Mark Egan, Casey B. Mulligan and Tomas J. Philipson
Many national accounts of economic output and prosperity, such as gross domestic product (GDP) or net domestic product (NDP), offer an incomplete picture by ignoring, for example, the value of leisure, home production, and the value of health. Previous discussed... View Details