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Blog Post
April 10, 2024
The UK Government has committed to producing a strategy on how the UK will support local leadership on development, climate, nature and humanitarian action; and its Foreign, Commonwealth and Development Office has endorsed a Donor Statement on Supporting Locally Led Development. Lisa Nandy, Labour’s...
WORKING PAPERS
April 04, 2024
Star firms, defined as the top 10 percentile of firms in the world in terms of return on invested capital, are more likely to occur in high-income countries and manufacturing industry, but there is an increasing share of star firms from middle-income countries and the services sector. Star firms hav...
Blog Post
April 04, 2024
A large academic and policy debate has focused on the increase in market concentration over the past few decades which has given rise to “star firms,” a small set of firms that generate abnormal returns for their investors. A common concern is that these firms exert excess market power and behave as...
Blog Post
December 21, 2022
If economists are the ‘dismal scientists’ always harping on about limited resources, evaluators are often considered the ‘pessimist scientists’ who only see the half-empty glass, rather than the half-full one. The end of the year is, however, a perfect time to break with that tradition. It is a time...
WORKING PAPERS
November 17, 2022
The large divergence in the returns of top-performing star firms and the rest of the economy is substantially reduced when we account for the mismeasurement of intangible capital. Star firms produce and invest more per dollar of invested capital, have more valuable innovations as measured by the mar...
CGD NOTES
November 16, 2022
Inflation has become a central feature of the global economy. In Latin America (aside from idiosyncratic cases such as Argentina and Venezuela, where high inflation rates have long been the norm), inflation began to rise the first half of 2021, at the same time it did in the US. The fact that risin...
REPORTS
August 03, 2022
This report—the product of a joint working group convened by the Center for Global Development and the Inter-American Development Bank—focuses on firms and labor markets in Latin America and the Caribbean during the COVID-19 crisis and the highly uncertain recovery phase now underway. The ongoing Ru...
CGD NOTES
July 11, 2022
A well-known structural problem in Latin America is that firms are generally quite small and most workers in the region are concentrated in small firms. In recent years, about 32 percent of workers were self-employed, and of those working in firms, over 50 percent were in firms that employed 10 or f...