From Zero to Infinity: The Use of Impact Factors in the Evaluation of Economic Research in Spain

Abstract

Studies on assessments of research performance in economic departments largely rely upon such bibliometric tools as impact factors to rank a short list of journals. In the present study, we examine the use of short lists of journals in order to assess research performance in Spain - a country that features a rare combination of a thin and incomplete academic market along with an elite of eminent economists. Our analysis reveals that the implementation of bibliometric tools to produce short lists of journals for assessment purposes entail problems with the statistical significance of cutoff rates, neglect of the interdisciplinary nature of economics, and an inability to track progress in academic markets that move towards internationalization and publications in top-tier, premier outlets.

Keywords: Research assessment, Economic departments, Impact factors, Journal rankings, Spain

JEL Classification: C00, Z00