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      • Research Summary

      Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance

      By: Laura Alfaro
      We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how multinational subsidiaries around the world... View Details
      • Research Summary

      The Competitive Advantage of Nations and Regions

      By: Michael E. Porter
      Michael E. Porter continues to extend his study first reported in The Competitive Advantage of Nations. Porter has published books and studies of other countries, states, and cities, including Canada, New Zealand, Portugal, the Commonwealth of Massachusetts,... View Details
      • Forthcoming
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      The Evolution of Financial Services in the United States

      By: Robin Greenwood, Robert Ialenti and David Scharfstein
      This article surveys the literature on the historical growth and transformation of the U.S. financial sector. The sector expanded rapidly between 1980 until 2006, when its contribution to GDP rose from 4.8% to 7.6%. After the Global Financial Crisis, the size of the... View Details
      Keywords: Financial Crisis; Financial Institutions; Financial Markets; Growth and Development; Economic Sectors
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      Greenwood, Robin, Robert Ialenti, and David Scharfstein. "The Evolution of Financial Services in the United States." Annual Review of Financial Economics (forthcoming).
      • Research Summary

      The Fragile State of the World: Unfairness, Discontent, and Global Capitalism

      By: Rawi E. Abdelal
      In this project, Abdelal explores the varieties of domestic discontent that undermine the stability of global capitalism. Discontent has manifested itself in the rise of populist movements and parties on both the Left and the Right, thereby weakening the Center. The... View Details
      Keywords: Globalization; Populism; Inequality; Fairness; Geopolitics
      • Research Summary

      The Global Agglomeration of Multinational Firms

      By: Laura Alfaro
      The explosion of multinational activities in recent decades is rapidly transforming the global landscape of industrial production. But are the emerging clusters of multinational production the rule or the exception? What drives the offshore agglomeration of... View Details
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