Publications

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October 2001 (Revised November 2017)
Case

Japan: The Miracle Years

By: Louis T. Wells

Japan experienced rapid growth in the 1950s and 1960s while following a set of policies that differ from current policies in fashion. Although some observers believe that Japanese growth occurred in spite of the policies rather than because of them, several countries... View Details

Keywords: History; Policy; Economic Growth; Business and Government Relations; Growth and Development Strategy; Japan

May 2020
Article

Tackling Climate Change Requires Organizational Purpose

By: Rebecca Henderson and George Serafeim

Unchecked climate change presents a profound threat to economic growth and political stability but despite widespread public concern about the issue, global emissions of greenhouse gases have not declined. Indeed current “business as usual” predictions imply that... View Details

Keywords: Corporate Purpose; Purpose; Sustainability; Environment; Climate Change; Organizations; Mission and Purpose; Environmental Sustainability; Strategy; Leadership

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15 Oct 2013
News

A Solution to Our 'Manufactured' Crisis

January 2003 (Revised May 2005)
Case

Zipcar: Refining the Business Model

By: Myra M. Hart, Michael J. Roberts and Julia Stevens

Zipcar is a start-up organized around the idea of "sharing" car usage via a membership organization. This case describes several iterations of the Zipcar business model and financial plan. These iterations include a very early version and a version developed just prior... View Details

Keywords: Service Operations; Renting or Rental; Business Model; Business Plan; Entrepreneurship; Economic Growth; Management Skills; Transportation; Business Startups; Financial Strategy; Corporate Finance; Growth and Development Strategy; Transportation Industry; Service Industry

October 2007 (Revised May 2008)
Case

Transforming Korea Inc: Financial Crisis and Institutional Reform

By: Laura Alfaro and Renee Kim

South Korea, as one of the Asian "tiger" economies, transformed itself into the world's 11th largest economy and major exporter by 1996, emerging from being one of the lowest income countries in the region back in the 1960s. Yet one year later in 1997, Korea was swept... View Details

Keywords: Development Economics; Financial Crisis; Governing Rules, Regulations, and Reforms; Business and Government Relations; South Korea

2009
Working Paper

India Transformed: Insights from the Firm Level 1988-2005

By: Laura Alfaro and Anusha Chari

Using firm-level data this paper analyzes, the transformation of India's economic structure following the implementation of economic reforms. The focus of the study is on publicly-listed and unlisted firms from across a wide spectrum of manufacturing and services... View Details

Keywords: Transformation; Economic Sectors; Economy; Governing Rules, Regulations, and Reforms; Growth and Development Strategy; India

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March 2010 (Revised April 2014)
Case

American Well: The Doctor Will E-See You Now

By: Elie Ofek and Ron Laufer

What is next for healthcare IT provider American Well, whose innovative Online Care technology allows physicians to deliver care to patients online in real time? Using American Well's platform, patients with non-emergency health concerns can communicate with physicians... View Details

Keywords: Entrepreneurship; Health Care and Treatment; Technological Innovation; Growth and Development Strategy; Market Entry and Exit; Service Delivery; Online Technology; Health Industry

07 Sep 2007
Working Paper Summaries

Diversification of Chinese Companies: An International Comparison

Keywords: by Joseph P.H. Fan, Jun Huang, Felix Oberholzer-Gee, Troy D. Smith & Mengxin Zhao

24 Sep 2020
Research & Ideas

Financial Meltdowns Are More Predictable Than We Thought

Are financial crises predictable? Former United States Federal Reserve Chair Ben S. Bernanke has had his doubts. Economics can show policymakers “precisely why the choices they made in the past were wrong,” he told Princeton University... View Details

Keywords: by Danielle Kost; Financial Services

May 2013
Supplement

Kinyuseisaku: Monetary Policy in Japan (C)

By: Laura Alfaro and Hilary White

Assuming office in December 2012, Prime Minister Shinzo Abe was determined to revive Japan's stagnating economy through an ambitious plan known as 'Abenomics.' Under the guidance of the newly appointed governor of the central bank, Haruhiko Kuroda, the Bank of Japan... View Details

Keywords: Japan; Inflation Targeting; Inflation; Abenomics; Monetary Policy; Stimulus; Quantitative Easing; Government Bonds; Macroeconomics; Inflation and Deflation; Money; Economic Slowdown and Stagnation; Japan

March 2004
Article

Inflation, Inflation Variability, and Corruption

By: Miguel Braun and Rafael Di Tella

We present a model where agents can inflate the cost of goods needed to start an investment project and inflation variability increases monitoring costs. We show that inflation variability can lead to higher corruption and lower investment. We document a positive... View Details

Keywords: Inflation and Deflation; Crime and Corruption

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Article

Are Buybacks Really Shortchanging Investment?

By: Jesse M. Fried and Charles C.Y. Wang

It’s no secret that the American economy is suffering from the twin ills of slow growth and rising income inequality. Many lay the blame at the doors of America’s largest public corporations. The charge? These firms prefer to distribute cash generated from their... View Details

Keywords: Economy; Investment; Stocks; Business and Shareholder Relations; Equality and Inequality; United States

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2018
Book

Food Citizenship: Food System Advocates in an Era of Distrust

By: Ray A. Goldberg

The global food system is the largest segment of the world's economy. As agribusiness-studies pioneer Ray Goldberg suggests, it is also the largest health system on the planet. And it is changing fast. Its size and importance to human, environmental, and economic... View Details

Keywords: Food; System; Global Range; Health; Environmental Sustainability; Development Economics; Partners and Partnerships; Public Opinion; Agriculture and Agribusiness Industry; Food and Beverage Industry

Dafna Bearson is a doctoral candidate in the Strategy Unit at Harvard Business School. Her research interests lie at the intersection of strategy and innovation. Specifically, her research focuses on intellectual property commercialization strategy in startups... View Details

Keywords: biotechnology; pharmaceuticals; high technology

March 2003 (Revised November 2003)
Case

Resourcery, Ltd.

By: Richard G. Hamermesh and Feyi A. Boroffice

Recounts the story of how a successful Nigerian entrepreneur has expanded his systems integration/networking business. He now faces the problem of raising growth capital in a developing country. View Details

Keywords: Venture Capital; Growth Management; Expansion; Race; Entrepreneurship; Developing Countries and Economies

March 2010 (Revised May 2013)
Case

Chile's Copper Surplus: The Road Not Taken (A)

By: Laura Alfaro, Dante Roscini and Renee Kim

In 2008, Andres Velasco, Chile's Finance Minister, was under mounting criticisms over his fiscal policy. As the world's largest copper producer, Chile was benefiting from the rise in copper prices, which had more than tripled since 2003. Copper revenues translated into... View Details

Keywords: Developing Countries and Economies; Economic Growth; Metals and Minerals; Investment Funds; Policy; State Ownership; Wealth; Chile

June 2011
Case

Steering Monetary Policy Through Unprecedented Crises

By: David Moss and Cole Bolton

In early April 2008, economic conditions in Europe appeared to be deteriorating on almost all fronts: sales figures were falling, business and consumer confidence were slumping, forecasts for European growth were being revised downward, and inflation was rising. In... View Details

Keywords: Forecasting and Prediction; Economic Slowdown and Stagnation; Financial Crisis; Inflation and Deflation; Financial Institutions; Interest Rates; Policy

14 Mar 2007
Op-Ed

Government’s Misguided Probe of Private Equity

private equity provides by facilitating economic growth are unlikely to be sustained if the heavy hand of government intrudes, whether through litigation or regulation. View Details

Keywords: by Josh Lerner; Financial Services

March 2022 (Revised February 2024)
Case

El Salvador: Launching Bitcoin as Legal Tender

By: Laura Alfaro, Carla Larangeira and Ruth Costas

In June 2021, Nayib Bukele, El Salvador’s president, surprised the world with the announcement that the country would adopt bitcoin as legal tender, becoming the first nation to do so. Bitcoin was mostly used for trading and had one of the most volatile track records... View Details

Keywords: Bitcoin; Cryptocurrency; Currency; Financial Strategy; Economic Growth; Governance; Macroeconomics; Assets; Latin America; El Salvador