Aldo Musacchio

Brandeis University- International Business School

Professor

415 South Street MC 32

Waltham, MA 02454-9110

United States

National Bureau of Economic Research

Faculty Research Fellow

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

http://www.nber.org/people/aldo_musacchio

SCHOLARLY PAPERS

35

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SSRN CITATIONS
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Top 8,895

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57

CROSSREF CITATIONS

86

Ideas:
“  I'm currently working on the insights that my research can provide to fight the Covid-19 pandemic in 2020. First, I am proposing a series of policies governments can implement to mobilize the state apparatus to coordinate a rapid response and to reduce the shock to the private sector, without increasing state intervention and statization/nationalization in the long run. Second, I am drawing lessons from the insights we have on the 1918 flu pandemic in Brazil (the so-called Spanish Flu Pandemic) to help developing countries see what to do and not do to and to help them understand that these pandemics have long term consequences on developmental outcomes like education.  ”

Scholarly Papers (35)

1.

Leviathan in Business: Varieties of State Capitalism and Their Implications for Economic Performance

Number of pages: 63 Posted: 31 May 2012 Last Revised: 30 Jun 2012
Aldo Musacchio and Sérgio G. Lazzarini
Brandeis University- International Business School and Insper Institute of Education and Research
Downloads 3,491 (4,381)
Citation 46

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state capitalism, state-owned enterprises, development banks, sovereign wealth funds

2.

What Do Development Banks Do? Evidence from BNDES, 2002-2009

Number of pages: 53 Posted: 08 Dec 2011 Last Revised: 31 May 2014
Insper Institute of Education and Research, Brandeis University- International Business School, Getulio Vargas Foundation (FGV-EAESP) and UNIVALI - Universidade do Vale do Itajai
Downloads 1,091 (27,641)
Citation 16

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Development banks, industrial policy, national champions, political economy

3.

In Strange Company: The Puzzle of Private Investment in State-Controlled Firms

Harvard Business School BGIE Unit Working Paper No. 13-071
Number of pages: 39 Posted: 14 Feb 2013
Fundação Getulio Vargas Law School at São Paulo, Brandeis University- International Business School and Insper Institute of Education and Research
Downloads 1,072 (28,368)
Citation 13

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4.

Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003

Number of pages: 28 Posted: 23 Nov 2010
Sérgio G. Lazzarini and Aldo Musacchio
Insper Institute of Education and Research and Brandeis University- International Business School
Downloads 357 (115,518)
Citation 2

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Development Bank, State Ownership, Industrial Policy, Firm Performance

5.

Can Civil Law Countries Get Good Institutions? Lessons from the History of Creditor Rights and Bond Markets in Brazil

Number of pages: 29 Posted: 03 Jan 2008
Aldo Musacchio
Brandeis University- International Business School
Downloads 316 (131,599)
Citation 13

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law and finance, legal origins, bankruptcy, Brazil, bond markets

6.

Do Legal Origins Have Persistent Effects Over Time? A Look at Law and Finance Around the World c. 1900

Number of pages: 64 Posted: 22 Jan 2008
Aldo Musacchio
Brandeis University- International Business School
Downloads 303 (137,735)

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Legal origins, financial development, creditor rights, shareholder rights, stock markets, history, bankruptcy, globalization

7.

These Are the Good Old Days: Foreign Entry and the Mexican Banking System

Harvard Business School BGIE Unit Working Paper No. 13-062
Number of pages: 101 Posted: 10 Jan 2013
Stephen Haber and Aldo Musacchio
Stanford University - Hoover Institution and Political Science and Brandeis University- International Business School
Downloads 262 (159,835)

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8.

Do CEOs of State-Owned Enterprises Matter? Evidence from Brazil, 1973-1993

Number of pages: 40 Posted: 30 Jun 2012
Brandeis University- International Business School, Insper Institute of Education and Research and Getulio Vargas Foundation (FGV) - Sao Paulo School of Economics
Downloads 253 (165,509)
Citation 1

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State-owned enterprises, CEOs, military CEOs, bureaucrats, state capitalism

Big BRICs, Weak Foundations: The Beginning of Public Elementary Education in Brazil, Russia, India, and China

Harvard Business School BGIE Unit Working Paper No. 11-083
Number of pages: 58 Posted: 13 Feb 2011 Last Revised: 29 Dec 2014
Latika Chaudhary, Aldo Musacchio, Steven Nafziger and Se Yan
Naval Postgraduate School, Brandeis University- International Business School, Williams College and Peking University - Guanghua School of Management
Downloads 222 (187,099)

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Brazil, Russia, India, China, economic history, education, political economy, elites

Big BRICS, Weak Foundations: The Beginning of Public Elementary Education in Brazil, Russia, India, and China

NBER Working Paper No. w17852
Number of pages: 61 Posted: 20 Feb 2012 Last Revised: 13 Apr 2022
Latika Chaudhary, Aldo Musacchio, Steven Nafziger and Se Yan
Naval Postgraduate School, Brandeis University- International Business School, Williams College and Peking University - Guanghua School of Management
Downloads 20 (707,113)
Citation 1

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10.

Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003

Harvard Business School BGIE Unit Working Paper No. 11-073
Number of pages: 29 Posted: 23 Jan 2011
Sérgio G. Lazzarini and Aldo Musacchio
Insper Institute of Education and Research and Brandeis University- International Business School
Downloads 198 (208,486)
Citation 2

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11.

Leviathan As a Partial Cure? Opportunities and Pitfalls of Using the State-Owned Apparatus to Respond to the COVID-19 Crisis

Number of pages: 16 Posted: 31 Mar 2020 Last Revised: 08 Mar 2021
Sérgio G. Lazzarini and Aldo Musacchio
Insper Institute of Education and Research and Brandeis University- International Business School
Downloads 189 (217,394)
Citation 2

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COVID-19, state-owned enterprises, development banks, state capitalism

12.

Bank Accounting Standards in Mexico: A Layman's Guide to Changes 10 Years after the 1995 Bank Crisis

Number of pages: 32 Posted: 02 Apr 2008
Gustavo A. Del Angel, Stephen Haber and Aldo Musacchio
Centro de Investigación y Docencia Económicas (CIDE), Stanford University - Hoover Institution and Political Science and Brandeis University- International Business School
Downloads 164 (245,249)
Citation 1

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13.

Laws vs. Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890-1950

Number of pages: 39 Posted: 25 Jan 2008
Aldo Musacchio
Brandeis University- International Business School
Downloads 155 (257,099)
Citation 1

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Bankers, Industrialists, and Their Cliques: Elite Networks in Mexico and Brazil During Early Industrialization

Number of pages: 38 Posted: 07 Dec 2006
Aldo Musacchio and Ian Read
Brandeis University- International Business School and University of California, Berkeley
Downloads 139 (281,399)
Citation 6

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Brazil, Mexico, Networks, economic sociology, business history, institutions, informal institutions, regulation of entry

Bankers, Industrialists, and Their Cliques: Elite Networks in Mexico and Brazil during Early Industrialization

Enterprise and Society, Vol. 8, Issue 4, pp. 842-880, 2007
Posted: 30 Jun 2008
Aldo Musacchio and Ian Read
Brandeis University- International Business School and University of California, Berkeley

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15.

Colonial Institutions, Trade Shocks, and the Diffusion of Elementary Education in Brazil, 1889-1930

Harvard Business School BGIE Unit Working Paper No. 10-075
Number of pages: 43 Posted: 10 Mar 2010 Last Revised: 18 Dec 2012
Aldo Musacchio, Andre Martinez and Martina Viarengo
Brandeis University- International Business School, Banco de México and London School of Economics & Political Science (LSE)
Downloads 127 (300,284)
Citation 10

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16.

State Capitalism in International Context: Varieties and Variations

Journal of World Business 56, no. 2: 101160.
Number of pages: 16 Posted: 09 Mar 2021 Last Revised: 26 Apr 2021
Imperial College London, Western University, Brandeis University- International Business School, Nova School of Business and Economics, Loughborough University - School of Business and Economics and Villanova University
Downloads 73 (427,746)

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state capitalism, statism, government, state-owned enterprises, international business, state-owned multinationals, sovereign wealth funds, political ideology, political institutions, internationalization

Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

Harvard Business School BGIE Unit Working Paper No. 10-027
Number of pages: 45 Posted: 23 Dec 2009 Last Revised: 24 Dec 2009
Andre Martinez and Aldo Musacchio
Banco de México and Brandeis University- International Business School
Downloads 57 (492,180)

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Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

NBER Working Paper No. w15411
Number of pages: 45 Posted: 13 Oct 2009 Last Revised: 10 Feb 2022
Andre Martinez and Aldo Musacchio
Banco de México and Brandeis University- International Business School
Downloads 13 (767,967)

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18.

Hybrid Leviathans Overseas: Government-Private Shareholder Conflicts in Cross-Border Acquisitions

2016 Academy of Management Meeting Best Paper Proceedings, Forthcoming
Number of pages: 6 Posted: 02 May 2016 Last Revised: 04 Aug 2016
Victor Zitian Chen, Aldo Musacchio and Sali Li
Fidelity Investments, Brandeis University- International Business School and University of Utah - David Eccles School of Business
Downloads 65 (454,660)

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State-owned enterprise, privatization, acquisitions, FDI, cross-border

19.

Law and Finance in Britain c.1900

QMS Research Paper 2019/11
Number of pages: 37 Posted: 17 Sep 2019
Christopher Coyle, Aldo Musacchio and John D. Turner
Queen's University Belfast - Queen's Management School, Brandeis University- International Business School and Queen's University Belfast
Downloads 56 (488,411)
Citation 3

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Common Law, Finance, Investor Protection, Law, UK

20.

Governments as Owners: State-Owned Multinational Companies

Cuervo-Cazurra, A. Inkpen, A., Musacchio, A. and Ramaswamy, K. 2014. Governments as owners: State-owned multinational companies. Journal of International Business Studies, 45: 919-942.
Number of pages: 25 Posted: 27 Dec 2018
Northeastern University - Department of International Business and Strategy, Thunderbird School of Management, Brandeis University- International Business School and Thunderbird School of Global Management
Downloads 49 (517,671)
Citation 11

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State ownership, multinational companies, firm objectives, internationalization

21.

Law and Finance C. 1900

NBER Working Paper No. w16216
Number of pages: 74 Posted: 26 Jul 2010 Last Revised: 24 Apr 2022
Aldo Musacchio
Brandeis University- International Business School
Downloads 47 (526,663)

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22.

A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs

Journal of Management, Forthcoming
Number of pages: 56 Posted: 09 Feb 2018
Victor Zitian Chen, Aldo Musacchio and Sali Li
Fidelity Investments, Brandeis University- International Business School and University of Utah - David Eccles School of Business
Downloads 42 (550,324)
Citation 1

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Agency Theory, State-Owned Enterprise, Multinational Enterprise, Cross-Border Acquisitions

23.

The Industrialization of South America Revisited: Evidence from Argentina, Brazil, Chile and Colombia, 1890-2010

NBER Working Paper No. w24345
Number of pages: 46 Posted: 28 Feb 2018 Last Revised: 08 Jan 2022
American University of Paris, Universidad de los Andes, Colombia and Brandeis University- International Business School
Downloads 40 (560,269)

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24.

Going the Distance: The Foreign Investment Strategies of Sovereign Wealth Funds

Strategy Science 5(1):39-54, 2020
Number of pages: 33 Posted: 13 May 2020
Pedro Makhoul, Aldo Musacchio and Sérgio G. Lazzarini
UCLA Anderson School of Management, Brandeis University- International Business School and Insper Institute of Education and Research
Downloads 37 (575,673)

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Corporate Governance, Corporate Strategy, Economic Geography, Nonmarket Strategies, Multinationals, Organizational Design, Corporate Finance, State Capitalism, International Business

25.

The Brazilian Bombshell? The Long-Term Impact of the 1918 Influenza Pandemic the South American Way

NBER Working Paper No. w26929
Number of pages: 48 Posted: 06 Apr 2020 Last Revised: 30 Jan 2022
Amanda Guimbeau, Nidhiya Menon and Aldo Musacchio
Brandeis University, International Business School, Students, Brandeis University - International Business School and Brandeis University- International Business School
Downloads 14 (732,108)
Citation 5

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26.

These are the Good Old Days: Foreign Entry and the Mexican Banking System

NBER Working Paper No. w18713
Number of pages: 101 Posted: 18 Jan 2013 Last Revised: 18 Feb 2022
Stephen Haber and Aldo Musacchio
Stanford University - Hoover Institution and Political Science and Brandeis University- International Business School
Downloads 10 (767,077)

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27.

Short and Medium-Run Health and Literacy Impacts of the 1918 Spanish Flu Pandemic in Brazil

Number of pages: 45 Posted: 11 Feb 2022
Amanda Guimbeau, Nidhiya Menon and Aldo Musacchio
Brandeis University, International Business School, Students, Brandeis University - International Business School and Brandeis University- International Business School
Downloads 8 (785,319)

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1918 Influenza Pandemic, Infant Mortality, Stillbirths, Literacy Rates, Sao Paulo, Brazil

28.

Colonial Institutions, Commodity Booms, and the Diffusion of Elementary Education in Brazil, 1889-1930

NBER Working Paper No. w20029
Number of pages: 36 Posted: 14 Apr 2014 Last Revised: 25 Mar 2022
Aldo Musacchio, Andre Martinez and Martina Viarengo
Brandeis University- International Business School, Banco de México and Graduate Institute of International and Development Studies (IHEID)
Downloads 6 (803,925)

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29.

State Ownership Reinvented? Explaining Performance Differences between State‐Owned and Private Firms

Corporate Governance: An International Review, Vol. 26, Issue 4, pp. 255-272, 2018
Number of pages: 18 Posted: 27 Jul 2018
Sergio G. Lazzarini and Aldo Musacchio
Insper Institute of Education and Research and Brandeis University- International Business School
Downloads 1 (857,957)

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Corporate Governance, National Privatization, National‐Level Governance Outcomes, Ownership Mechanisms, State‐Owned Enterprise (SOE)

30.

State-Owned Enterprise Reform in Latin America: Issues and Possible Solutions

Posted: 25 Aug 2015
Aldo Musacchio, Emilio Pineda and Gustavo Garcia
Brandeis University- International Business School, Inter-American Development Bank (IDB) and Inter-American Development Bank (IDB)

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State-owned enterprises, privatization, state reform, Latin America, corporate governance, fiscal decentralization

31.

Iceland (A)

HBS Case No. 709-011, Harvard Business School BGIE Unit
Posted: 01 Sep 2010
Aldo Musacchio
Brandeis University- International Business School

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32.

Indian Railways: Building a Permanent Legacy?

HBS Case No. 710-008, Harvard Business School BGIE Unit
Posted: 31 Aug 2010
Tarun Khanna, Aldo Musacchio and Rachna Tahilyani
Harvard University - Strategy Unit, Brandeis University- International Business School and Harvard Business School, India Research Center

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33.

Vale: Global Expansion in the Challenging World of Mining

HBS Case No. 710-054, Harvard Business School BGIE Unit
Posted: 31 Aug 2010
Harvard University - Strategy Unit, Brandeis University- International Business School and Harvard University - Business School (HBS)

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34.

Mexico: Crisis and Competitiveness

HBS Case No. 710-058, Harvard Business School BGIE Unit
Posted: 26 Aug 2010
Brandeis University- International Business School, Harvard University - Business, Government and the International Economy Unit and Harvard Business School

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35.

Laws Versus Contracts: Shareholder Protections and Ownership Concentration in Brazil, 1890-1950

Business History Review, Vol. 82, No. 3
Posted: 24 Nov 2008
Aldo Musacchio
Brandeis University- International Business School

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brazil, corporate law, investor protections, shareholder protection