On the Robustness of the h-index: a mathematical approach

The h-index is an index recently proposed by Hirsch (2005) to measure scientific achievement by individual scholars. It is a compound measure of publications and citations. We show the robustness of this index. This means that h-index increases with both the number of publications and the number of citations only when these numbers are significant.

Subsidies, rent seeking and performance:being young, small or private in China

Entrepreneurs in emerging market economies operate in weak institutional contexts, which can imply different types of government. In some countries (e.g., Russia), the government is predatory, and the main risk faced by (successful) entrepreneurs relates to expropriation. In other countries (like China) this kind of risk is lower; nevertheless the government is intrusive, and the rules of the game remain fluid. The implication of the latter for entrepreneurs is that they are more likely to spend time and resources on influence (rent seeking) activities rather than on productive activities.We illustrate this type of government by focusing on the distribution of subsidies in China.We present a simple formalmodel that explores not only the direct effects of rent seeking for a company but also externalities under a situation of policy-generated uncertainty in the distribution of subsidies.We explore how these effects differ for the entrepreneurial sector (young, private and small companies) compared with other sectors. We posit that while the performance of private companies is more affected than the performance of state firms, the impact of government-induced uncertainty on young and small companies is actually less pronounced. Our empirical analysis, based on a unique large dataset of 2.4 million observations on Chinese companies, takes advantage of the regional and sectoral heterogeneity of China for empirical tests

The Credit–Growth Nexus: New Evidence from Developing and Developed Countries

The purpose of this paper is to assess the relationship between credit market development and economic growth for a heterogeneous panel of 20 developing and developed countries with varied growth experiences. The empirical study is based on estimations of generalized method of moments (GMM) and pooled mean group (PMG) on heterogeneous panel data model. Difference GMM estimation indicates that credit market development has a negative effect on economic growth. This result is robust for our full sample and for the subsample of non-OECD countries, but not for the subsample of OECD countries. However, using a PMG model, we provide evidence of a positive impact in the long run between credit market development and economic growth. When considering heterogeneity in the short-run relationship across countries, our findings suggest that the credit–growth relationship is specific across countries, depending on each country-specific legal and macroeconomic environment

A walk through the social capital literature from an economic perspective

This essay considers the literature on the topic of social capital in relation to the economic science, and opens new perspectives of research in this area. This essay starts with a walk through the history of economic thought that has influenced social capital literature. Afterwards, the reader will find a discussion on different perspectives of research that have been followed up to now and some others in relation with the microeconomic foundations of the concept of social capital, and its connexion with economic growth and finance.Este ensayo reflexiona a partir de la literatura existente sobre el tema del capital social en relación a la ciencia económica, y apunta hacia nuevas perspectivas de investigación. El texto comienza con un paseo por la historia del pensamiento económico. Acto seguido, se procede a discutir las diferentes perspectivas de investigación que se han seguido recientemente y otras nuevas en relación con los fundamentos microeconómicos del concepto de capital social y su conexión con el crecimiento económico y las finanzas.En lo financiero, gracias al departamento de historia económica de la London School of Economics, al Economic and Social Research Council (ESRC) grant PTA-030-2003-01258 y a los proyectos del Ministerio de Ciencia e Innovación ECO2010-21643 y CS02010-16389, Comunidad Autonoma de Madrid, IV PRICIT, S2007/HUM/0467 y Ministerio de Fomento P42/08

Friedrich Hayek and his visits to Chile

F. A. Hayek took two trips to Chile, the first in 1977, the second in 1981. The visits were controversial. On the first trip he met with General Augusto Pinochet, who had led a coup that overthrew Salvador Allende in 1973. During his 1981 visit, Hayek gave interviews that were published in the Chilean newspaper El Mercurio and in which he discussed authoritarian regimes and the problem of unlimited democracy. After each trip, he complained that the western press had painted an unfair picture of the economic situation under the Pinochet regime. Drawing on archival material, interviews, and past research, we provide a full account of this controversial episode in Hayek’s life

Genetic Variants of the Renin Angiotensin System: Effects on Atherosclerosis in Experimental Models and Humans

The renin angiotensin system (RAS) has profound effects on atherosclerosis development in animal models, which is partially complimented by evidence in the human disease. Although angiotensin II was considered to be the principal effector of the RAS, a broader array of bioactive angiotensin peptides have been identified that have increased the scope of enzymes and receptors in the RAS. Genetic interruption of the synthesis of these peptides has not been extensively performed in experimental or human studies. A few studies demonstrate that interruption of a component of the angiotensin peptide synthesis pathway reduces experimental lesion formation. The evidence in human studies has not been consistent. Conversely, genetic manipulation of the RAS receptors has demonstrated that AT1a receptors are profoundly involved in experimental atherosclerosis. Few studies have reported links of genetic variants of angiotensin II receptors to human atherosclerotic diseases. Further genetic studies are needed to define the role of RAS in atherosclerosis