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New research on globalized economies and regions from Harvard Business School faculty on issues including how technology adoption affects global economies, assessing the "offshorability" of occupations in the US, and how foreign direct investment promotes economic growth.
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Branding Sells Cereal, Handbags, and Vacations. Can It Sell a Country?

by Danielle Kost

Countries such as Israel now realize they need to engage in public diplomacy as well as foreign diplomacy, and in place branding, not just political advocacy, says Elie Ofek. Open for comment; 0 Comments.

The UK Needs a Bold Strategy Around Competition to Survive Brexit

by Michael Blanding

There is little doubt that the United Kingdom’s separation from Europe will reduce its competitiveness for the foreseeable future, argues Michael E. Porter. Here's what can be done about it. Open for comment; 0 Comments.

Is China About to Overtake the US for World Trade Leadership?

by James Heskett

SUMMING UP. It's better for the United States if China is an economic ally rather than a competitor for world trade leadership, James Heskett's readers conclude. Open for comment; 0 Comments.

Can China Maintain Its Economic Power?

by Deborah Blagg

Professor F. Warren McFarlan made his first visit to China in 1979 and has been returning ever since. He discusses the country's market-based reforms and its challenges to further growth. Open for comment; 0 Comments.

Political Dysfunction Makes America Less Competitive

by Dina Gerdeman

The American economy is “failing the test of competitiveness," according to a new Harvard Business School study written by Michael E. Porter, Jan W. Rivkin, and Mihir A. Desai. Open for comment; 0 Comments.

The Historian Who Came in from the Cold

by Dina Gerdeman

While much has been written about the conflict between the United States and the Soviet Union during the Cold War, Jeremy S. Friedman’s Shadow Cold War: The Sino-Soviet Competition for the Third World is the first book to explore in detail the significance of the “Second Cold War” that China and the Soviet Union fought in the shadow of the communist and capitalist struggle. Open for comment; 0 Comments.

How Technology Adoption Affects Global Economies

by Carmen Nobel

In a series of research papers, Associate Professor Diego A. Comin and colleagues investigated the relationship between technology adoption and per capita income. They found that the rate at which nations adopted new tools hundreds of years ago strongly affects whether those nations are rich or poor today. Closed for comment; 0 Comments.

Why Do Countries Adopt International Financial Reporting Standards?

by Karthik Ramanna & Ewa Sletten

Why do some countries adopt the European Union (EU)-based International Financial Reporting Standards (IFRS) when others do not? To expand our understanding of the determinants and consequences of IFRS adoption on a global sample, HBS professor Karthik Ramanna and MIT Sloan School of Management coauthor Ewa Sletten studied variations over time in the decision to adopt these standards in more than a hundred non-EU countries. Understanding countries' adoption decisions can provide insights into the benefits and costs of IFRS adoption. Key concepts include: Countries with high quality corporate governance systems and more powerful countries are less likely to adopt IFRS. There are network benefits to IFRS adoption, i.e., the likelihood of IFRS adoption for a given country increases with the number of IFRS adopters in its geographical region and with IFRS adoption among its trade partners. As more countries adopt the international standards, the relative import of network benefits from IFRS adoption (over direct economic benefits) are likely to increase. Similar effects might be seen in the adoption of accounting methods and standards, and of corporate governance best practices by firms and jurisdictions. Closed for comment; 0 Comments.

How Many U.S. Jobs Are ‘Offshorable’?

by Julia Hanna

Some 900 Harvard Business School students were asked to recreate a study assessing the potential "offshorability" of more than 800 occupations in the United States. Their findings: It might be a larger number than we thought. Key concepts include: Management students are likely tomorrow to face an unprecedented array of options concerning what they can do where. Increasingly, jobs are being viewed as groups of tasks that can be bundled, unbundled, and sent to different places. Offshoring could come to an end just as quickly as it began. Closed for comment; 0 Comments.

How South Africa Challenges Our Thinking on FDI

by Martha Lagace

After the fall of apartheid, South Africa accepted the standard prescription for countries to receive more foreign direct investment. Yet FDI has been a mere trickle. Why? The answer may reside in the country's strong corporate environment, says HBS professor Eric D. Werker. Key concepts include: South Africa has received just a fraction of the foreign direct investment experienced by other comparable emerging-market economies, challenging some standard views about how FDI works. After apartheid, South African conglomerates had money to invest as well as a large market share within their industry. Foreign firms or asset managers who want exposure to South Africa might simply choose to go through financial markets. A major test of South Africa's infrastructure and security will be World Cup soccer in 2010. Closed for comment; 0 Comments.

How Does Foreign Direct Investment Promote Economic Growth? Exploring the Effects of Financial Markets on Linkages

by Laura Alfaro, Areendam Chanda, Sebnem Kalemli-Ozcan & Selin Sayek

Does FDI help developing countries as much as we think? While theoretical models imply that FDI is beneficial for a host country's development—a belief widely shared among policymakers—the empirical evidence does not support this view. This paper bridges the gap between theoretical and empirical literature with a model and calibration exercises that examine the role of local financial markets. Ultimately, Alfaro and colleagues contribute to existing research that emphasizes how local policies and institutions may actually limit the potential benefits that FDI could provide to a host country. Key concepts include: Research shows that an increase in FDI leads to higher growth rates in financially developed countries compared to rates observed in financially poor countries. Local conditions, such as the development of financial markets and the educational level of a country, affect the impact of FDI on economic growth. Policymakers should exercise caution when trying to attract FDI that is complementary to local production. The best connections are between final and intermediate industry sectors, not necessarily between domestic and foreign final goods producers. Human capital plays a critical role in achieving growth benefits from FDI. Closed for comment; 0 Comments.

The Regional Slice of Your Global Strategy

by Pankaj Ghemawat

A regional understanding should be part of your overall global strategy, says Professor Pankaj Ghemawat. One key: Recognize that regions don’t stop at national borders. An excerpt from Harvard Business Review. Closed for comment; 0 Comments.

Restoring a Global Economy, 1950–1980

by Geoffrey Jones

In his recent book Multinationals and Global Capitalism, professor Geoffrey Jones dissects the influence of multinationals on the world economy. This excerpt recalls the rebuilding of the global economy following World War II. Closed for comment; 0 Comments.

Globalization: The Strategy of Differences

by Pankaj Ghemawat

Should your global strategy optimize scale or exploit differences? HBS professor Pankaj Ghemawat suggests a mix-and-match strategy in this excerpt from Harvard Business Review. Closed for comment; 0 Comments.

It’s India Above China in New World Order

by Martha Lagace

Can India overtake China? That's the title of an influential new article in Foreign Policy magazine. A Q&A with authors Yasheng Huang of MIT and Tarun Khanna of HBS. Closed for comment; 0 Comments.