Publications

11 Oct 2022
Research & Ideas

Shrinking the Racial Wealth Gap, One Mortgage at a Time

Hiring more minority loan officers could help people of color secure significantly more home loans and address one of the biggest factors driving the racial wealth gap, new research finds. In the white-dominated US banking industry,... View Details

Keywords: by Rachel Layne; Financial Services

19 May 2015
First Look

First Look: May 19

decreased volatility of supply shocks and increased volatility of the Fed's long-run inflation target. Endogenous responses of bond risk premia amplify these effects of monetary policy on bond risks. Download working paper: http://ssrn.com/abstract=2332106 Career... View Details

Keywords: Sean Silverthorne

12 Mar 2006
Research & Ideas

Global Poverty Needs a Global Answer

project's early stages. It would organize the interface with supporting institutions such as the World Bank and the UNDP, and with local business partners. And since the WDC would have NGO representation on... View Details

Keywords: by Cynthia Churchwell

28 Feb 2007
Research & Ideas

Capital Rules: The Tensions of Global Finance

signals accordingly. At that very moment in 1998, the IMF Executive Board and Interim Committee were considering codifying the norm for all 184 members, as had the EU and OECD for their own clubs. That autumn was as close as the world has... View Details

Keywords: by Rawi Abdelal

03 Mar 2009
First Look

First Look: March 3, 2009

809-073 The Canada Pension Plan Investment Board is one of the largest and fastest-growing pools of investment capital in the world and follows an unusually active program of investment management. In the market turmoil of late 2008, Mark... View Details

Keywords: Martha Lagace

June 2011 (Revised September 2011)
Case

Two Key Decisions for China's Sovereign Fund

By: Robert C. Pozen and Xiaoyu Gu

The China Investment Corporation (CIC) was China's sovereign wealth fund (SWF), established with $200 billion of registered capital in September 2007 to diversify China's foreign exchange holdings and increase risk-adjusted returns on those assets. CIC was unusual in... View Details

Keywords: Business Subsidiaries; Business Growth and Maturation; Decisions; Capital; Investment Banking; Investment Funds; Corporate Social Responsibility and Impact; Ownership; Business and Shareholder Relations; Risk and Uncertainty; Wealth; Expansion; Financial Services Industry; China; United States

21 Feb 2007
Op-Ed

What a U.N. Partnership with Big Business Could Accomplish

poverty line. And yet, more than a trillion dollars has been spent by bilateral and multilateral organizations since World War II to try to alleviate this problem. The funds that were supposed to help improve people's lives have often... View Details

Keywords: by George C. Lodge & Craig Wilson

15 Jan 2019
First Look

New Research and Ideas, January 15, 2019

https://www.hbs.edu/faculty/Pages/item.aspx?num=55402 The Creation and Evolution of Entrepreneurial Public Markets By: Bernstein, Shai, Abhishek Dev, and Josh Lerner Abstract—This paper explores the creation and evolution of new stock exchanges around the View Details

Keywords: Dina Gerdeman

29 May 2018
First Look

New Research and Ideas, May 29, 2018

February 2018 Journal of Accounting & Economics Bank CEO Materialism: Risk Controls, Culture and Tail Risk By: Bushman, Robert, Robert Davidson, Aiyesha Dey, and Abbie Smith Abstract—We investigate how the prevalence of materialistic... View Details

Keywords: Dina Gerdeman

2009
Book

Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed and What to Do About It

By: Josh Lerner

In response to the financial crisis, governments are being far more aggressive in intervening to promote economic activity, a trend that shows little tendency of alleviating. This book looks at the experiences of governments in encouraging entrepreneurs and venture... View Details

Keywords: Economic Growth; Financial Crisis; Entrepreneurship; Venture Capital; Policy; Business and Government Relations

Find at Harvard

11 Dec 2012
First Look

First Look: Dec. 11

propose a market rule that avoids excessive fragmentation while almost achieving social efficiency, and we argue that implementation of this rule is feasible despite the limited powers of central authorities. We also offer a framework for the price trajectory of IP... View Details

Keywords: Sean Silverthorne

July 2003 (Revised September 2003)
Case

Refinancing of Shanghai General Motors (A), The

By: Mihir A. Desai and Mark Veblen

The CFO of General Motors' joint venture in Shanghai, Shanghai General Motors (SGM), wants to refinance almost $900 million of project finance it raised to begin operations. The highest priority is improving the terms of the financing with regard to costs and specific... View Details

Keywords: Business Subsidiaries; Multinational Firms and Management; Joint Ventures; Financing and Loans; Auto Industry; Shanghai

04 Apr 2007
Research & Ideas

The Business of Global Poverty

class, places like Payatas, or the teeming streets of Calcutta, or the favelas of Rio de Janeiro—places where only the entrepreneurial survive—are never far from his mind. According to the World Bank, nearly half the world's... View Details

Keywords: by Garry Emmons

February 2018
Case

Infrastructure in Nigeria: Unlocking Pension Fund Investments

By: John Macomber and Pippa Tubman Armerding

The so-called “infrastructure finance gap” was a problem in Nigeria as in many parts of the world. Infrastructure projects like power plants and dams were very large capital investments that could generate long-term consistent cash flows, but their financing and... View Details

Keywords: Pension Fund Investing; Infrastucture; Power/Energy; Credit Enhancement; Infrastructure; Project Finance; Investment Funds; Emerging Markets; Nigeria; Africa

March 2004 (Revised April 2005)
Case

International Rivers Network and the Bujagali Dam Project (A)

By: Benjamin C. Esty and Aldo Sesia

In the summer of 2002, the International Rivers Network (IRN), an environmental NGO located in Berkeley, California, was engaged in what appeared to be the last hours of a three year campaign to stop a $582 million dam and hydropower project at Bujagali Falls in... View Details

Keywords: Ethics; Corporate Disclosure; Project Finance; Investment; Environmental Sustainability; Projects; Developing Countries and Economies; Energy Industry; Uganda

July 2003 (Revised September 2003)
Case

Refinancing of Shanghai General Motors (B), The

By: Mihir A. Desai and Mark Veblen

This case provides the outcome to "The Refinancing of Shanghai General Motors (A)" in which the CFO of General Motors' joint venture in Shanghai, Shanghai General Motors (SGM), wants to refinance almost $900 million of project finance it raised to begin operations. The... View Details

Keywords: Business Subsidiaries; Multinational Firms and Management; Joint Ventures; Financing and Loans; Auto Industry; Shanghai