Monthly Archives: June 2018

  • Permalink Gallery

    When a large company enters a local market, it stimulates local innovation

When a large company enters a local market, it stimulates local innovation

Cross-country investment flows are a peculiar trait of the modern economy and have been progressively increasing in the last two decades. Even with a substantial decline after the Great Recession, there were 2.86 trillion of dollars net flows in 2016, according to data published by the World Bank. There has been an intense debate on the effects of this investment on […]

  • Permalink Gallery

    Liberalising the economy isn’t enough to deal with Ethiopia’s foreign currency crunch

Liberalising the economy isn’t enough to deal with Ethiopia’s foreign currency crunch

Ethiopia’s liberalisation offensive, opening up the state controlled Ethio telecom and Ethiopian Airlines to private investors, has taken many by surprise. Caught between a watershed political transition and a foreign currency crunch, opinion remains divided as to whether the move primarily signals a policy shift to relatively fast-pedalled liberalisation under the new administration, or is intended to serve as […]

June 29th, 2018|Economics|0 Comments|

Single and no kids? Who is work-life balance for?

Work-life balance has been a hot topic for organisations and HR practitioners for many years – linked to range of individual and organisational benefits. The shift from the terms ‘family-friendly’ and ‘work-family balance’ to the more inclusive ‘work-life balance’ around 2000 indicated a shift in rhetoric that all employees, regardless of domestic situation, deserved a suitable balance between the […]

  • Permalink Gallery

    How Norway’s sovereign wealth fund protected UK jobs after the 2008 crisis

How Norway’s sovereign wealth fund protected UK jobs after the 2008 crisis

Sovereign Wealth Funds (SWFs) are investment funds set up by national governments as a means of saving – potentially across generations – a proportion of foreign exchange inflows, typically as a result of windfalls from natural resources, but also, in some circumstances, from manufactured goods export booms and/or even agricultural surpluses. They may also serve as a stabilisation device […]

June 27th, 2018|Finance|0 Comments|
  • Permalink Gallery

    We need full employment and fair incomes, not unemployment and basic incomes

We need full employment and fair incomes, not unemployment and basic incomes

The automation debate – whether robots will take your job – has led to a dangerous theory: we face mass unemployment, so we need a basic income. A host of billionaires support this theory: Mark Zuckerberg of Facebook, Elon Musk of Tesla, Pierre Omidyar of eBay, and maybe Jeff Bezos of Amazon. There is academic support. Two researchers did […]

How the Blitz enhanced London’s economy

The Blitz lasted from Sept 1940 to May 1941, during which the Luftwaffe dropped 18,291 tons of high explosives and countless incendiaries across Greater London. Although these attacks have now largely faded from living memory, our recent paper shows that the impact of the Blitz remains evident to this day in both London’s physical landscape and economy.

Using recently digitised National […]

  • Permalink Gallery

    Against Meritocracy: Culture, Power and Myths of Mobility – Book Review

Against Meritocracy: Culture, Power and Myths of Mobility – Book Review

Against Meritocracy: Culture, Power and Myths of Mobility. Jo Littler. Routledge. 2017.

Find this book: 

Modern life is shaped by a persistent and sinister narrative: that if you just work hard enough, you can improve yourself and so improve your situation in life. If you’re poor, miserable, unglamorous or unfulfilled, then you’ve simply not really applied yourself – you lack […]

June 24th, 2018|Book Review|0 Comments|
  • Permalink Gallery

    Outside the Single Market, what kind of deal can Britain’s services sector hope for?

Outside the Single Market, what kind of deal can Britain’s services sector hope for?

One of the most economically significant and complex aspects of the post-Brexit EU-UK free trade agreement (FTA) negotiations is that of services. While negotiations over trade in goods can vary in complexity from simple tariff rates to full regulatory convergence, services negotiations are invariably complicated, requiring sector-by-sector negotiations over the specific “behind the border” regulations and requirements that affect the provision […]

June 23rd, 2018|Economics|0 Comments|
  • Permalink Gallery

    Christopher Pissarides: ‘I’d like to see a UK equivalent of Germany’s Work 4.0 white paper’

Christopher Pissarides: ‘I’d like to see a UK equivalent of Germany’s Work 4.0 white paper’

In late 2016, the German government published the white paper ‘Work 4.0’, the result of 18 months of discussion with academia, trade unions, employer organisations and the public. The paper was a blueprint for how society should face the technological disruption taking place in the world of work and business. This is what Sir Christopher Pissarides thinks the UK should do if it wants to […]

  • Permalink Gallery

    What Twitter reveals about a company’s reputation and productivity

What Twitter reveals about a company’s reputation and productivity

Reputation plays an important signalling role in an imperfect information world and companies endeavour to preserve it. In this study, I evaluate empirically the role of reputation for companies that engage in Twitter. The results confirm that getting negative tweets, many expressing grievances, strongly correlates with low firm performance, suggesting the importance of social media (SM) in times when […]

  • Permalink Gallery

    Navigating the fintech landscape with a customer-market-competition matrix

Navigating the fintech landscape with a customer-market-competition matrix

New fintech firms are bringing a stream of technology innovations to the financial services industry, and banks and other incumbent firms are experiencing extraordinary competitive pressures and process-disrupting new rivalries in many of their primary business areas. Industry and academic observers think this is a revolution, with financial services as a whole due for major improvements in the efficiency […]

The ethical downside of hiring based on internal referrals

Increasingly, organizations are turning to referral-based methods to hire new employees (i.e. “recommend a friend/acquaintance”). In fact, these practices are estimated to account for up to 50 per cent of new hires and some organizations pay up to $20,000 to people referring someone they know for a job. The practice itself is relatively simple – it consists of a hiring manager […]

  • Permalink Gallery

    Quantifying structural reforms in OECD countries: a new framework

Quantifying structural reforms in OECD countries: a new framework

In many OECD countries, economic growth has yet to recover the lost ground suffered in the aftermath of the financial crisis. In some of them, unemployment has been persistently high, investment rates disappoint, and productivity is extremely sluggish – a “low growth trap”.

Put differently, all three sources of sustainable long-run growth under-perform. This jeopardises societies’ ability “to make good […]

June 18th, 2018|Economics|0 Comments|
  • Permalink Gallery

    The Politics of Financial Risk, Audit and Regulation: A Case Study of HBOS – Book Review

The Politics of Financial Risk, Audit and Regulation: A Case Study of HBOS – Book Review

The Politics of Financial Risk, Audit and Regulation: A Case Study of HBOS. Atul K. Shah. Routledge. 2017.

Find this book: 

In The Politics of Financial Risk, Audit and Regulation: A Case Study of HBOS, Atul K. Shah examines the HBOS collapse of 2008, and uses it as a platform to more broadly critique the ways in which finance is regulated by […]

June 17th, 2018|Book Review|0 Comments|

Why tech markets are winner-take-all

‘Competition is for losers. If you want to create and capture lasting value, look to build a monopoly’– Peter Thiel, cofounder of PayPal and Palantir

In the 1960s, IBM dominated the mainframe market. It still does. In the 1980s, Microsoft and Intel dominated the PC software and processor markets. They still do. From the 1990s, with the World Wide Web, […]

  • Permalink Gallery

    When organisations take more than they give to the equality agenda

When organisations take more than they give to the equality agenda

When an organisation makes loud claims about equality at work, they’re not contributing to the agenda. They’re taking from it. They’re withdrawing reputation and brand equity and depositing little back in return.

To return that equity, they need to take meaningful action. You can often spot ‘meaning’ because it brings risk and scrutiny. It’s likely to lead to a structural […]

  • Permalink Gallery

    Rowntree and the search for a British approach to management

Rowntree and the search for a British approach to management

The Rowntree management conferences are a unique repository of thinking about management in general and British management in particular. Held over a span of nearly twenty years, they encapsulate a certain strand in management thought that, unlike many other contemporary management theories, was liberal, human-centred and forward-looking. They are an experiment – tried once and never really repeated – […]

June 14th, 2018|Management|0 Comments|

AI’s lack of transparency triggers a debate over ethics

Alexa may be up to more tricks than just unnerving us with her creepy laugh.

The artificial intelligence technology that drives Amazon’s digital assistant and others like it is being used in an ever-growing list of applications. Some, like a Netflix recommendation on what to binge-watch next, are relatively benign. Others, however, hold high stakes: sizing up job applicants, reviewing […]

  • Permalink Gallery

    Cryptocurrencies: the future of money, speculative bubble or something else?

Cryptocurrencies: the future of money, speculative bubble or something else?

This month’s episode of the LSE IQ podcast investigates whether cryptocurrencies are the future of money, a speculative bubble that will burst, or something else.

In 2008 a person or group going under the pseudonym ‘Satoshi Nakamoto’ published a white paper setting out the fundamentals of a peer-to-peer electronic cash system called bitcoin. This would do away with the need […]

  • Permalink Gallery

    A postgraduate degree protects you against the business cycle

A postgraduate degree protects you against the business cycle

College graduates receive a wage premium over non-college workers. However, both types of workers are subject to similar wage shocks over the business cycle. As the share of workers with postgraduate degrees has doubled since 1980, I compare postgraduates to those who only have bachelor degrees. I document a new fact: in the US, postgraduates experience smaller shocks to […]