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New research on business globalization from Harvard Business School faculty on issues including strategy and tactics, executive skills, risk management.
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Monetary Policy and Global Banking

by Falk Bräuning and Victoria Ivashina

Global banks commonly move funds across markets to respond to differential monetary policy changes. This paper finds that cross-currency flows affect the cost of foreign exchange hedging, ultimately affecting credit supply in different currencies. The traditional view of how global banks respond to local shocks is weakened and, for major currencies, breaks down.

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.

What Brands Can Do to Monitor Factory Conditions of Suppliers

by Michael Blanding

For better or for worse, it’s fallen to multinational corporations to police the overseas factories of suppliers in their supply chains—and perhaps make them better. Michael W. Toffel examines how. Open for comment; 0 Comments.

Location Fundamentals, Agglomeration Economies, and the Geography of Multinational Firms

by Laura Alfaro and Maggie Xiaoyang Chen

Understanding the location interdependence of multinational firms and how they agglomerate with one another is critical to designing and improving economic policies. These authors’ analysis, using a worldwide plant-level dataset and a novel index of agglomeration, yields a number of insights into the economic geography of multinational production. In addition to market access and comparative advantage motives, multinationals' location choices are significantly affected by agglomeration economies including not only vertical production linkages but also technology diffusion and capital-market externalities.

How to Fix a Broken Global Team

On a Cold Call podcast, professor Tsedal Neeley discusses her recent case study about a manager charged with corralling a hugely diverse, underperforming group and leading it back to success on a global scale. Open for comment; 0 Comments.

How Do We Pay for the Costs of Globalization?

by James L. Heskett

SUMMING UP The benefits of globalization outweigh the problems it causes, but James Heskett's readers are far from united on how to the fix human and societal costs. What do YOU think? Open for comment; 0 Comments.

Solving an Economic Mystery Surrounding Argentina and Chile

by Sean Silverthorne

At the dawn of the twentieth century, Argentina was one of the richest countries in the world. In the twenty-first century, it is struggling, its economy eclipsed by Chile. A new book by Geoffrey Jones and Andrea Lluch helps explain the “Argentina Paradox” and the influence of globalism. Open for comment; 0 Comments.

The Globalization of Angel Investments: Evidence across Countries

by Josh Lerner, Antoinette Schoar, Stanislav Sokolinksi & Karen Wilson

Examining a cross-section of 13 angel groups who considered transactions across 21 countries, this study finds that angel investors have a positive impact on the growth of the firms they fund, their performance, and survival, while the selection of firms that apply for angel funding varies across countries.

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.

Internalizing Global Value Chains: A Firm-Level Analysis

by Laura Alfaro, Pol Antras, Davin Chor & Paola Conconi

Manufacturing activities that used to be performed in close proximity are increasingly fragmented across firms and countries. This paper provides strong evidence that considerations driven by contractual frictions critically shape firms' ownership decisions along their value chains.

Six Lessons from Mobile Money Ventures in Developing Countries

by Dina Gerdeman

Improving access to financial services for the poor in developing countries seems an unmet market need. So why are so many mobile money efforts failing? Rajiv Lal says the problem begins with Marketing 101. Open for comment; 0 Comments.

Explaining China's Crash

by Christina Pazzanese

After a decade of massive growth, China’s stock market began a precipitous summer slide that that hasn't slowed yet. Dante Roscini explains what's deflating markets worldwide. Open for comment; 0 Comments.

Globalization Hasn’t Killed the Manufacturing Cluster

by Roberta Holland

In today's global markets, companies have many choices to procure what they need to develop, build, and sell product. So who needs a manufacturing cluster, such as Detroit? Research by Gary Pisano and Giulio Buciuni shows that in some industries, location still matters. Open for comment; 0 Comments.

The Future of the Greek Economy

by Laura Alfaro, Dante Roscini & George Serafeim

Before last weekend's referendum in Greece, Laura Alfaro, Dante Roscini, and George Serafeim explored the country's economic, social, and political crisis. Their insights still stand, even as Greece's situation changes hour by hour. Open for comment; 0 Comments.

Kids Benefit From Having a Working Mom

by Carmen Nobel

Women whose moms worked outside the home are more likely to have jobs themselves, are more likely to hold supervisory responsibility at those jobs, and earn higher wages than women whose mothers stayed home full time, according to research by Kathleen McGinn and colleagues. Open for comment; 0 Comments.

Leadership Lessons From Outer Space

by Carmen Nobel

Beaming in from space via teleconference, International Space Station Commander Terry Virts discusses leadership, technology, and thunderstorms with professors and students at Harvard Business School. Open for comment; 0 Comments.

Reforming Greece: Myths and Truths

by George Serafeim

Greece has largely its leaders to blame for the country's economic crisis, but Europe could help the entire region with some well-targeted aid, says George Serafeim. Open for comment; 0 Comments.

The Fall of Greece

by George Serafeim

When the Syriza party emerged victorious in Greece's national election last week, many citizens rejoiced at the promise of an easing of austerity measures. Professor George Serafeim believes having fresh people in government is a positive development, but fears they could point the country backward, away from competition and free-market forces. Open for comment; 0 Comments.