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Show Results For
- All HBS Web
(1,135)
- People (2)
- News (143)
- Research (892)
- Events (4)
- Multimedia (15)
- Faculty Publications (537)
- 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.)
- August 2021
- Article
Anger Damns the Innocent
By: Katherine DeCelles, Gabrielle Adams, Holly S. Howe and Leslie K. John
False accusations of wrongdoing are common and can have grave consequences. In six studies, we document a worrisome paradox in perceivers’ subjective judgments of a suspect’s guilt. Specifically, we find that laypeople (online panelists; N = 4,983) use suspects’ angry... View Details
Keywords: Morality; Accusations; Deception; Guilt; Affect; Emotions; Behavior; Perception; Judgments; Decision Making
DeCelles, Katherine, Gabrielle Adams, Holly S. Howe, and Leslie K. John. "Anger Damns the Innocent." Psychological Science 32, no. 8 (August 2021): 1214–1226.
- 20 Oct 2023
- News
Highlights from the Fall 2023 Alumni Board Meeting
perception of capitalism; the deep mission of the School; and how he views competitors in the marketplace. Asked to close with a few takeaways that could help guide Alumni Board members as they communicate with the rest of the alumni... View Details
- 31 May 2004
- Research & Ideas
How Team Leaders Show Support–or Not
leader. This led us to delve more deeply into the different types of leader behaviors that appeared, and to look at how those specific behaviors influenced people's perceptions of leader support and, ultimately, their creativity. Q: You... View Details
Keywords: by Martha Lagace
- 16 Jul 2020
- Research & Ideas
Restaurant Revolution: How the Industry Is Fighting to Stay Alive
will be required about cleaning and sanitizing. Management effectiveness at controlling numbers and flow of customers and enforcement of local requirements, such as requiring customers to wear masks when not eating, will impact the View Details
- 29 Jul 2009
- Working Paper Summaries
Firsthand Experience and the Subsequent Role of Reflected Knowledge in Cultivating Trust in Global Collaboration
Keywords: by Mark Mortensen & Tsedal Neeley
- 19 Jan 2015
- Research & Ideas
Is Wikipedia More Biased Than Encyclopædia Britannica?
For more than a century, the long, stately rows of Encyclopædia Britannica have been a fixture on the shelves of many an educated person's home—the smooshed-together diphthong in the first word a symbol of old-world erudition and gravitas. So it was a shock to many... View Details
- 03 Jun 2002
- Research & Ideas
How to Succeed With Your New Boss
to shape your boss's perceptions of what can and should be achieved. Aim for good marks from those whose opinions your boss respects. This is an aspect of building supportive internal coalitions. Your boss may have pre-existing... View Details
Keywords: by Michael Watkins
- Research Summary
Overview of Research
My research examines approaches to improving the performance of our health care delivery system with a primary focus on health information technology. Reflecting the interdisciplinary nature of my program, my dissertation draws upon theories and insights from... View Details
- Web
Research - Behavioral Finance & Financial Stability
which uniquely explain the market-wide price reaction that followed the 2017 J.Crew restructuring, a high-profile use of such contractual elements. See Victoria’s other research here and Boris’ other research here . More Info Financial Market Risk View Details
- 5 Sep 2013
- Conference Presentation
The Color of Taste: Selling Food in Clear Packages in the Early-Twentieth-Century United States
By: Ai Hisano
This paper examines the role of color in the marketing and retailing of food products by focusing on the increasingly popular presentation of food in clear packages in the early-twentieth-century United States. In the 1910s, a candy company began using cellophane to... View Details
Hisano, Ai. "The Color of Taste: Selling Food in Clear Packages in the Early-Twentieth-Century United States." Paper presented at the CHORD Conference, Centre for the History of Retailing and Distribution (CHORD), Leeds, UK, September 5, 2013.
- 18 Mar 2016
- Blog Post
What is an IFC?
the IFC, my team explored how a city's transportation infrastructure affected its citizens' opinions of government. For example, does having a two hour commute due to traffic dramatically lower citizens' perceptions of the government's... View Details
- 29 Oct 2012
- Research & Ideas
Are You Paying a Tip--or a Bribe?
about and weighs the past and future. In some places, tips are provided not so much to reward good service but to encourage good service in the future—a perception that brings the tip closer to the purpose of a bribe, which is also... View Details
Keywords: by Dina Gerdeman
- Web
Advisory Board - Entrepreneurship
Silknet (NASDAQ: SILK), edocs, Idiom Technologies , Incipient , Silicon Dimensions, and Virtusa . Andy has also led investments in Aptis Communications (acquired by Nortel Networks), Argon (acquired by Siemens), Cerulean Technology (acquired by Aether), Net View Details
- 11 Mar 2019
- Research & Ideas
Branding Sells Cereal, Handbags, and Vacations. Can It Sell a Country?
overcome decades of TV footage of soldiers and tanks that linger in the mind. To Harvard Business School marketing professor Elie Ofek, it’s more proof that influencing long-held perceptions about a region requires more strategic... View Details
- 16 Dec 2019
- Research & Ideas
Taking on the Taboos That Keep Women Out of India's Workforce
percent in 2015. Yet nearly one-third of Indian housewives express the desire to work. How do governments go about changing perceptions of women in the workforce when it’s in their economic interest to do so? A recent working paper by... View Details
Keywords: by Julia Hanna
- 07 May 2020
- Research & Ideas
The One Good Thing Caused by COVID-19: Innovation
pandemic. An increase in risk perception makes consumers more willing to pay for safety features, which, in turn, provides producers greater incentives to develop and commercialize technologies that address consumers' demands for safety.... View Details
Keywords: by Hong Luo and Alberto Galasso
- 19 Mar 2014
- Research & Ideas
A Brand Manager’s Guide to Losing Control
Thanks (or no thanks) to social media, brand managers have lost the power to control the perception of their products through carefully orchestrated advertising campaigns. These days, consumers are in command. With an angry tweet, a happy... View Details
- 26 Jan 2015
- Research & Ideas
National Health Costs Could Decrease if Managers Reduce Work Stress
identifying 10 sources of stress that can affect health. Some of these contributors were directly related to on-the-job dynamics, such as long hours, lack of control, job insecurity, and perceptions of unfairness in the workplace. These... View Details