
- 09 Oct 2018
- Working Paper Summaries
Towards a New Approach for Upgrading Europe’s Competitiveness
Is the EU’s model of European integration a driver or a barrier towards higher European prosperity? This paper analyzes why the integration model that was successful in the past has lost effectiveness, and sets out strategic principles to guide a new approach. Integration remains key for upgrading European competitiveness, but needs to move towards a new form.

- 18 Oct 2017
- Research & Ideas
How Economic Clusters Drive Globalization
Historical research by Valeria Giacomin shows that industrial clusters, often cited in explaining local economic growth, have had a much wider impact, especially in developing countries. Open for comment; 0 Comments.
- 02 Sep 2015
- Research & Ideas
Explaining China's Crash
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.

- 13 Jan 2010
- Working Paper Summaries
Private Equity and Industry Performance
In response to the global financial crisis that began in 2007, governments worldwide are rethinking their approach to regulating financial institutions. Among the financial institutions that have fallen under the gaze of regulators have been private equity (PE) funds. There are many open questions regarding the economic impact of PE funds, many of which cannot be definitively answered until the aftermath of the buyout boom of the mid-2000s can be fully assessed. HBS professor Josh Lerner and coauthors address one of these open questions, by examining the impact of PE investments across 20 industries in 26 major nations between 1991 and 2007. In particular, they look at the relationship between the presence of PE investments and the growth rates of productivity, employment, and capital formation. Key concepts include: It is still too early to assess the consequences of the economic conditions in 2008 and 2009, a period where the decrease of investment and absolute volume of distressed private equity-backed assets was far greater than in earlier cycles. Despite this caveat, it appears that: PE investments are associated with faster growth. There is little evidence that economic fluctuations are exacerbated by the presence of PE investments. In industries with PE investments, there are few significant differences between industries with a low and high level of PE activity. Activity in industries with PE backing appears to be no more volatile in the face of industry cycles than in other industries, and sometimes less so. The reduced volatility is particularly apparent in employment. These patterns continue to hold when the focus is on the impact of private equity in continental Europe, where concerns about these investments have been most often expressed. Closed for comment; 0 Comments.
- 17 Dec 2008
- Lessons from the Classroom
‘Ted Levitt Changed My Life’
Many students say legendary Harvard Business School marketing professor Ted Levitt changed their lives inside his classroom and out. "Ted Levitt was the most influential and imaginative professor in marketing history," HBS professor and senior associate dean John Quelch eulogized on the occasion of Levitt's death in 2006. Colleagues and students remember a life and times. From HBS Alumni Bulletin. Closed for comment; 0 Comments.
- 01 Dec 2008
- Lessons from the Classroom
How Many U.S. Jobs Are ‘Offshorable’?
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.
Free Trade Needs Nurturing—and Other Lessons from History
Global free trade is not the natural order of things, so it needs to be carefully tended to and maintained. Sophus Reinert and Dante Roscini discuss trade over time and what history teaches. Open for comment; 0 Comments.