Articles

South Korea’s economy has relied on giant corporations for over half a century. A recent research looks into whether they do more harm than good. Konstantin Egorov, a professor at the University of Antwerp and a graduate of the New Economic School, explains why its findings may matter far beyond Korea.

Climate change brings huge costs to the world, both social and economic. But people do not give this problem the attention it deserves, especially in oil-rich countries like Russia. NES Professor Gerhard Toews and NES Rector Anton Suvorov decided to find out who should speak to the population about climate policy, and whom they would be more likely to trust.

Economic research subjects often cause confusion: for example, what is the benefit of studying now the events of a distant past? Scholars are doing this research not for the sake of finding solutions that worked well dozens or hundreds of years ago – those are really useless today, but for the sake of answering another, less obvious question. Konstantin Egorov, a professor of the University of Antwerp and a New Economic School alumnus, tells what that question is. 

The Trump shock has sent the global trading system into a knockdown. A key question for the global economy is how and in what condition it will emerge from the tariff chaos. Natalya Volchkova, NES Professor and Vice-rector for Research at the Russian Foreign Trade Academy, Maxim Medvedkov, Adviser to the WTO Expertise Center and former Chief Negotiator for Russia's accession to the WTO, and Peter Varyushin, Head of commodity markets research at Norilsk Nickel, discussed this topic during the NES Popular Science Days in memory of Gur Ofer, New Economic School’s co-founder. GURU summarizes the main ideas from their talk and future scenarios that economists consider.

Public debt of many developed countries is high above 100% of GDP, and in a few years this value will become the global average. NES Professor Valery Charnavoki answers the questions whether we should worry about the state of public finances, how long a country can live with such a debt burden, and how we can distinguish between a stable and unstable level of public debt.

Ivan Turgenev's story «Khor and Kalinich» is one of the first works of Russian literature, showing the inner world of the country’s peasants. It could also serve as a vivid illustration of the economic model of the serfdom’s coercion system, says Dmitrii Kofanov, a Post-Doctoral Associate at the University of Pittsburgh and New Economic School’s graduate.This column is part of a joint project of NES and N+1, looking at economic theories in literary works. 

Behavioral economics has made a great contribution, first, to prove that culture is among the factors that do matter when it comes to decision-making and, second, to study the mechanism behind this impact. In this respect, the Cultural Dimensions Theory created in 1980 by Dutch management researcher Geert Hofstede has introduced new dimensions and perspectives to research. In this post we will not only discuss the theory but will also look into how culture impacts economic behavior of firms and individuals.

Discussion around the influence of open-source software is gaining renewed attention with the latest wave of open-source AI. Along with the obvious advantages in the form of free access to the innovations there are growing concerns on the security issues. In this post, we are trying to follow the development of open-source software, its benefits for the companies and economy and of course about the risks. 

If we try to trace the origin of Fintech, we shall find that it has existed in some capacity or the other since the first wave of financial globalization during the late 19th and early 20th centuries. Like other technological revolutions of the past, it has been, and continues now, to cause significant structural change: novel technologies in a short time are replacing traditional ones. Some of the most important Fintech innovations were electronic payment systems, web-based business models, and bank digitalization. In this post, we will look into the landscape of the present-day Fintech industry and sectors where start-ups can find big market opportunities for development. 

Nowadays it's difficult to discuss future business strategy analytics without including AI. But when asked,  "Who is smarter — a human or AI?," ChatGPT’s answer is uncertain. It ultimately depends on the context and the specific tasks at hand. Humans possess the unique ability to think creatively and innovate, involving not only generating new ideas but also taking risks and experimenting. All these are limited for AI, because the technology can only use known data and replicate it. Replicating existing solutions won't address the modern challenging world, and  companies require innovative approaches. Visionary or strategic thinkers can help generate new ideas and bring them to life. Who are they, and should you have them in your business or become one yourself?

When one thinks about becoming a CEO, it is the timeless skills like leadership, strategic thinking, adaptability, problem-solving, integrity, financial acumen and communication that come to mind. But reaching the top of the corporate hierarchy also means having several qualifications. First, a minimum requirement is a bachelor’s degree, usually in business, finance, or engineering. Second is having extensive and diverse work experience, and a deep understanding of the industry which, in turn, allows one to understand the different aspects of a company and make informed decisions. Third, executive education often acts as additional support to senior managers in achieving the office. And on top of it there is networking, something that all NES alumni share and understand the importance of being in the right place at the right time is part of future career success.