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- All HBS Web (1,172)
- Faculty Publications (134)
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Overview
Globalization and Emerging Markets (Elective Course)
The world order has changed significantly in the last two decades. The influence of western-style varieties of capitalism has been challenged by new forms of capitalism that rely less on private enterprise and on the... View Details
Keywords: Globalization; Strategy; Macroeconomics; State Capitalism; Political Economy; Emerging Markets; Multinational Firms and Management; Global Strategy; Economics; Banking Industry; Banking Industry; Banking Industry; Banking Industry; Banking Industry; China; Africa; Dubai; Pakistan; India; Brazil; Russia; Cuba; Argentina
- 28 Jun 2012
- Working Paper Summaries
Leviathan in Business: Varieties of State Capitalism and their Implications for Economic Performance
Keywords: by Aldo Musacchio & Sergio G. Lazzarini
- 07 Jul 2022
- HBS Case
How a Multimillion-Dollar Ice Cream Startup Melted Down (and Bounced Back)
An Ample Hills Creamery store in Disney World would be part of the deal, necessitating, Smith thought, a new factory. He set out to build it in high-cost Brooklyn—the Red Hook neighborhood—to show the company’s commitment to its... View Details
Keywords: by Pamela Reynolds
- 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.)
- 01 Apr 2008
- First Look
First Look: April 1, 2008
Purchase this case: http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=308009 Kinyuseisaku: Monetary Policy in Japan Harvard Business School Case 708-017 Toshihiko Fukui, Government of the Bank of Japan, faced a complex... View Details
Keywords: Martha Lagace
- 12 Sep 2023
- Research & Ideas
How Can Financial Advisors Thrive in Shifting Markets? Diversify, Diversify, Diversify
broadly for other industries looking to appeal to younger clients or adapt marketing strategies to a fluid business environment. Sizing up a changing investment world Historically speaking, financial advisory firms have focused on... View Details
- 30 Apr 2024
- Book
When Managers Set Unrealistic Expectations, Employees Cut Ethical Corners
decisions that were so clearly disastrous not only for workers and others exposed to asbestos but for the company itself. Shortly thereafter, in 1982, with its asbestos-related liabilities projected to exceed its assets, Johns-Manville shocked the business View Details
Keywords: by Dina Gerdeman
- 23 Jul 2001
- Research & Ideas
Sam Walton: Great From the Start
carefully after that, and maybe I became a little more wary of just how tough the world can be .... But I didn't dwell on my disappointment."' It is worth asking why P. K. Holmes, Walton's landlord, did not renew his lease. There... View Details
- 08 Jan 2008
- First Look
First Look: January 8, 2008
Download the paper: http://www.hbs.edu/research/pdf/08-035.pdf What Do Non-Governmental Organizations Do? Authors:Eric D. Werker and Faisal Z. Ahmed Abstract No abstract is available at this time. Download the paper: http://www.hbs.edu/research/pdf/08-041.pdf... View Details
Keywords: Martha Lagace
- 29 Jan 2013
- First Look
First Look: Jan. 29
aggressively and scale its business. They also needed to make business choices about next steps. Purchase this case:http://hbr.org/search/813023-PDF-ENG The World Bank in 2012: Choosing a Leader Iyer,... View Details
Keywords: Sean Silverthorne
- 14 Feb 2023
- Research & Ideas
When a Vacation Isn’t Enough, a Sabbatical Can Recharge Your Life—and Your Career
A few years ago, DJ DiDonna seemed to have everything going for him. He had started a successful venture called the Entrepreneurial Finance Lab, which used psychometric factors to help banks issuing microloans in the developing View Details
Keywords: by Michael Blanding
- 03 Oct 2023
- Research Event
Build the Life You Want: Arthur Brooks and Oprah Winfrey Share Happiness Tips
writing a column. You know - we as college professors, we do our work and we put it out into the world and we bless it. And we don't know. Sometimes Oprah Winfrey is reading it. You-- and - and, so Oprah called. This is Oprah Winfrey. And... View Details
Keywords: by HBS Staff
- 2014
- Discussion Paper
The Promise of Microfinance and Women's Empowerment: What Does the Evidence Say?
By: Dina D. Pomeranz
The microfinance revolution has transformed access to financial services for low-income populations worldwide. As a result, it has become one of the most talked-about innovations in global development in recent decades. However, its expansion has not been without... View Details
Keywords: Entrepreneurship In Emerging Markets; Entrepreneurship; Women's Empowerment; Entrepreneurs; Saving; Savings; Credit; Credit Supply; Insurance; Development Economics; Development Finance; Behavioral Economics; Gender; Microfinance; Social Entrepreneurship; Developing Countries and Economies; Banking Industry; Banking Industry; Banking Industry; Banking Industry; Latin America; Kenya; Chile; India; Asia; Africa
Pomeranz, Dina D. "The Promise of Microfinance and Women's Empowerment: What Does the Evidence Say?" EY Thought Leadership Series, February 2014.
- 22 Apr 2008
- First Look
First Look: April 22, 2008
European market and, indeed, in the world economy. Over the first half of the twentieth century, however, the bank faced a series of national crises: defeat in WWI (1914-1918), revolution in 1919,... View Details
Keywords: Martha Lagace
- 16 Oct 2007
- First Look
First Look: October 16, 2007
encourage bankers to loot their banks at the expense of minority shareholders and depositors. We argue that neither looting nor credit misallocation are necessary outcomes of related lending. On the contrary, related lending often exists... View Details
Keywords: Sean Silverthorne
- 06 Nov 2006
- Research & Ideas
How South Africa Challenges Our Thinking on FDI
the World Bank or the IMF would have advised for countries to receive more foreign direct investment. But interestingly, it was slow in coming. And so the reasons for this can be many. I think one that might... View Details
Keywords: by Martha Lagace
- 07 Jul 2008
- Research & Ideas
Innovation Corrupted: How Managers Can Avoid Another Enron
or fail to analyze the utter breakdown in board governance and Enron's internal controls, and the failure of credit rating agencies to blow the whistle," he says. "They also overlook the collusion of investment banks in... View Details
- 01 Mar 2011
- First Look
First Look: March 1
they may fail to notice when the moment is right for action on one path. They may also seem too remote and aloof to their staffs. The best leaders can zoom in to examine problems and then zoom out to look for patterns and causes. They don't divide the View Details
Keywords: Sean Silverthorne
- 24 Jul 2007
- First Look
First Look: July 24, 2007
much more radical change (sacking of Troy / innovation). Democratizing Entry: Banking Deregulations, Financing Constraints, and Entrepreneurship Authors: William Kerr and Ramana Nanda Abstract We study how US branch View Details
Keywords: Martha Lagace
- 16 Jul 2013
- First Look
First Look: July 16
look at the creation of the Carnegie Tech Graduate School of Industrial Administration after World War II. This episode illustrates the increasingly successful claims of social scientists, backed by philanthropic foundations, on business... View Details
Keywords: Anna Secino