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- December 8, 2022
- Article
The New China Shock: How Beijing’s Party-State Capitalism Is Changing the Global Economy
By: Margaret M. Pearson, Meg Rithmire and Kellee S. Tsai
In the wake of the global financial crisis of 2008, China began to move away from the market-based approach that had shaped its economic policies for three decades, and toward something that might be termed “party-state capitalism,” which involves a high degree of...
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- 2022
- Chapter
The Origins of the Developmental State: The European Experience
Book Abstract: There has been a major revival of interest in State Capitalism: what it is, where it is found, and why it is seemingly becoming more ubiquitous. As a concept, it has evolved from radical critiques of the Soviet Union, to being deployed by neo-liberals to...
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- Fall 2022
- Article
China's Political Economy and International Backlash: From Interdependence to Security Dilemma Dynamics
By: Margaret Pearson, Meg Rithmire and Kellee Tsai
Contrary to expectations that economic interdependence might lessen security conflict between China and the U.S. and its allies, much of the contestation between China and several OECD countries has focused on firms and economic links. This paper explains the...
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- 2022
- Working Paper
The Impact of the Chinese Exclusion Act on the U.S. Economy
By: Joe Long, Carlo Medici, Nancy Qian and Marco Tabellini
This paper studies the impact of the Chinese Exclusion Act, which banned Chinese immigration to the United States after 1882, across U.S. counties between 1870 and 1940. We find that the Act reduced labor supply for both the Chinese and other groups (i.e., white and...
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- July 2022 (Revised October 2022)
- Case
Nestlé, Shared Value and KitKat Diplomacy
By: Geoffrey G. Jones and Sabine Pitteloud
The case revolves around the decision on March 23, 2022 by Mark Schneider, the chief executive of Swiss-based Nestlé, to withdraw the emblematic Kit Kat chocolate bar from sales in Russia in response to the invasion of Ukraine in the previous month, although not its...
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- June 2022
- Case
Mossadeq’s Gambit: The US, UK, and Iranian Oil Nationalization
By: Jeremy Friedman and Jingyu Liu
Many of the West’s political problems in the Middle East and in Iran in particular can be traced to the overthrow of Prime Minister Mohammad Mossadegh by military forces supported by the American CIA and the British MI6 in August 1953. Mossadegh, at the head of a...
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- May 2022
- Case
America's Budget Impasse, 2009-2022
The United States has been a fiscal mess for years…at least since the financial crisis in 2009. This case describes the U.S. economy during the presidencies of Barack Obama, Donald Trump and now, Joe Biden’s first year. The case is composed of excerpts from the...
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- 2022
- Book
A Political Economy of Justice
By: Danielle Allen, Yochai Benkler, Leah Downey, Rebecca Henderson and Joshua Simons
Defining a just economy in a tenuous social-political time.
If we can agree that our current social-political moment is tenuous and unsustainable—and indeed, that may be the only thing we can agree on right now—then how do markets, governments, and people... View Details
If we can agree that our current social-political moment is tenuous and unsustainable—and indeed, that may be the only thing we can agree on right now—then how do markets, governments, and people... View Details
- 2022
- Chapter
Firms, Morality, and the Search for a Better World
Book Abstract: Defining a just economy in a tenuous social-political time. If we can agree that our current social-political moment is tenuous and unsustainable—and indeed, that may be the only thing we can agree on right now—then how do markets, governments, and...
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- April 2022
- Article
Going Out or Opting Out? Capital, Political Vulnerability, and the State in China's Outward Investment
By: Meg Rithmire
How do state-business relations interact with outward investment in authoritarian regimes? This paper examines this question in the context of China’s rapid transformation into a major capital exporter. While most political economy scholarship focuses on firms’...
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- March 2022 (Revised April 2022)
- Case
Pittsburgh: A Successful City?
Pittsburgh, PA, was once the crown jewel of American heavy industry. During the 19th and 20th centuries, the city was an undisputed leader in steel production, boasting some of the largest companies and wealthiest individuals in the world. Its abundance of...
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Keywords:
Economic And Social Disparities;
Economic Development;
Local Economic Development;
Contextual Intelligence;
Contextual Knowledge;
Context;
City Growth;
City Innovation;
City Leadership;
Pittsburgh;
Local Government;
Local Stakeholders;
Business And Community;
Business And Community Relations;
Community Engagement;
Community Relations;
Cross-sector Collaboration;
Innovation;
Innovation Economy;
Innovation Clusters;
Innovation Ecosystems;
Shared Prosperity;
Equality Of Opportunity;
Equity;
Inclusion;
Business And Government;
Business ＆ Government Relations;
Business And Government Relations;
Business And Society;
Neighborhoods;
Race And Ethnicity;
Innovation ＆ Entrepreneurship;
Diversity;
Ethnicity;
Race;
Household;
Income;
Economic Growth;
Economic Sectors;
Economics;
Local Range;
Urban Development;
Urban Scope;
City;
Cross-Cultural and Cross-Border Issues;
Government and Politics;
Government Administration;
Growth and Development;
History;
Leadership;
Goals and Objectives;
Philanthropy and Charitable Giving;
Society;
Civil Society or Community;
Culture;
Human Needs;
Public Opinion;
Public Sector;
Social Issues;
Poverty;
Equality and Inequality;
Manufacturing Industry;
Steel Industry;
Education Industry;
Medical Devices and Supplies Industry;
Technology Industry;
United States;
Pittsburgh;
Pennsylvania
- March 2022
- Case
The Future of Start-Up Chile
By: Prithwiraj Choudhury, Ruth Costas and Pedro Levindo
In 2021, public accelerator program Start-Up Chile, which ten years earlier had created a global buzz, might be losing its competitive edge to similar programs or one-year visas for digital nomads offered by other countries. The case follows SUP’s CEO, Angeles Romo, as...
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Keywords:
Entrepreneurship;
Cultural Entrepreneurship;
Social Entrepreneurship;
Disruptive Innovation;
Innovation Leadership;
Disruption;
Knowledge Dissemination;
Knowledge Sharing;
Business Education;
Emerging Markets;
Cross-Cultural and Cross-Border Issues;
Global Strategy;
Globalized Economies and Regions;
Globalized Markets and Industries;
Government Administration;
Recruitment;
Job Design and Levels;
Human Capital;
Leading Change;
Business and Government Relations;
Groups and Teams;
Networks;
Social and Collaborative Networks;
Public Administration Industry;
Latin America;
Chile
- 2022
- Chapter
Crises and International Business
By: Geoffrey Jones
This chapter uses the intellectual journey of the author to suggest that crises have been the norm rather than the exception in the history of international business. Over the last 100 years world wars, regional conflicts, the Great Depression, and decolonization are...
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- February 2022 (Revised December 2022)
- Case
Jaypee Infratech and the Indian Bankruptcy Code
By: Kristin Mugford, William Vrattos and Radhika Kak
In 2016, India passed a new bankruptcy law (IBC) to counter a brewing bank crisis and increased corporate distress. Homebuilder Jaypee Infratech, one of India largest distressed companies (the “dirty dozen”) began restructuring under the IBC in 2017. Two years later,...
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Keywords:
Restructuring;
Decisions;
Judgments;
Voting;
Developing Countries and Economies;
Financial Crisis;
Public Sector;
Asset Pricing;
Borrowing and Debt;
Corporate Finance;
Credit;
Insolvency and Bankruptcy;
Debt Securities;
Bonds;
Investment Return;
Price;
Government Legislation;
Laws and Statutes;
Bids and Bidding;
Business and Stakeholder Relations;
Risk and Uncertainty;
Valuation;
Real Estate Industry;
India;
Delhi
- Working Paper
Electoral Turnovers
By: Benjamin Marx, Vincent Pons and Vincent Rollet
In most national elections, voters face a key choice between continuity and change. Electoral turnovers occur when the incumbent candidate or party fails to win reelection. To understand how turnovers affect national outcomes, we study the universe of presidential and...
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- January 2022
- Background Note
Common Prosperity? China Shifts Left
By: William C. Kirby and Noah B. Truwit
Since the founding of the People’s Republic of China in 1949, the ruling Chinese Communist Party (CCP) has been mistrustful of entrepreneurs and the private sector that operates outside the government’s authority. In its first decades under Mao Zedong, the CCP...
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Keywords:
Market Reform;
Gdp;
Government Administration;
Government and Politics;
Private Sector;
Governing Rules, Regulations, and Reforms;
Economy;
Globalized Economies and Regions;
Entrepreneurship;
Business and Government Relations;
Globalized Markets and Industries;
Social Issues;
Society;
Economic Growth;
China
- January 2022
- Supplement
Uber in China (C): The Cost of Success for Didi
By: William C. Kirby and Noah B. Truwit
On June 30, 2021, ride-hailing giant Didi Chuxing (Didi) raised $4.4 billion in its initial public offering (IPO) on the New York Stock Exchange (NYSE), the largest IPO of a Chinese company listed on an American exchange since Alibaba raised $25 billion in 2014....
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Keywords:
China;
Uber;
Didi Chuxing;
Start-up Growth;
Regulation;
Ride-sharing;
Transportation;
Business Startups;
Business and Government Relations;
Cross-Cultural and Cross-Border Issues;
Growth and Development;
Policy;
Competition;
Laws and Statutes;
Transportation Industry;
Technology Industry;
China
- 2022
- Book
Ripe for Revolution: Building Socialism in the Third World
By: Jeremy Friedman
A historical account of ideology in the Global South as the postwar laboratory of socialism, its legacy following the Cold War, and the continuing influence of socialist ideas worldwide.
In the first decades after World War II, many newly independent... View Details
In the first decades after World War II, many newly independent... View Details
- Article
Small States in an Age of Empires: The Duchy of Parma's Colonial Moment, 1750–1770
By: Arnaud Orain and Sophus A. Reinert
Often thought of as the "Athens of Italy" during the Enlightenment, and as a microcosm of the Italian peninsula and of the eighteenth century alike, the Duchy of Parma played a unique role in the culture and politics of the age. This essay focuses on its "colonial...
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