The New Empirical Economics of Management

67 Pages Posted: 25 Sep 2014

See all articles by Nicholas Bloom

Nicholas Bloom

Stanford University - Department of Economics; National Bureau of Economic Research (NBER)

Renata Lemos

London School of Economics & Political Science (LSE)

Raffaella Sadun

Harvard University - Strategy Unit; London School of Economics & Political Science (LSE) - Centre for Economic Performance (CEP); National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Daniela Scur

Cornell University - Charles H. Dyson School of Applied Economics and Management

John Van Reenen

London School of Economics - Centre for Economic Performance (CEP); Institute for Fiscal Studies (IFS); Centre for Economic Policy Research (CEPR)

Multiple version iconThere are 2 versions of this paper

Date Written: June 2014

Abstract

Over the last decade the World Management Survey (WMS) has collected firm-level management practices data across multiple sectors and countries. We developed the survey to try to explain the large and persistent TFP differences across firms and countries. This review paper discusses what has been learned empirically and theoretically from the WMS and other recent work on management practices. Our preliminary results suggest that about a quarter of cross-country and within-country TFP gaps can be accounted for by management practices. Management seems to matter both qualitatively and quantitatively. Competition, governance, human capital and informational frictions help account for the variation in management.

Keywords: management, organization, productivity

JEL Classification: L2, M2, O14, O32, O33

Suggested Citation

Bloom, Nicholas and Lemos, Renata and Sadun, Raffaella and Scur, Daniela and Van Reenen, John Michael, The New Empirical Economics of Management (June 2014). CEPR Discussion Paper No. DP10013, Available at SSRN: https://ssrn.com/abstract=2501465

Nicholas Bloom (Contact Author)

Stanford University - Department of Economics ( email )

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HOME PAGE: http://economics.stanford.edu/faculty/bloom

National Bureau of Economic Research (NBER) ( email )

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Renata Lemos

London School of Economics & Political Science (LSE) ( email )

Houghton Street
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Raffaella Sadun

Harvard University - Strategy Unit ( email )

Harvard Business School
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Boston, 02163
United States

HOME PAGE: http://people.hbs.edu/rsadun

London School of Economics & Political Science (LSE) - Centre for Economic Performance (CEP) ( email )

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National Bureau of Economic Research (NBER) ( email )

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Centre for Economic Policy Research (CEPR) ( email )

London
United Kingdom

Daniela Scur

Cornell University - Charles H. Dyson School of Applied Economics and Management ( email )

Ithaca, NY
United States

John Michael Van Reenen

London School of Economics - Centre for Economic Performance (CEP) ( email )

Houghton Street
London WC2A 2AE
United Kingdom
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+44 20 7955 6848 (Fax)

Institute for Fiscal Studies (IFS) ( email )

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Centre for Economic Policy Research (CEPR)

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United Kingdom

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