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Fisman, Raymond

Overview
Works: 81 works in 438 publications in 7 languages and 6,022 library holdings
Roles: Author
Classifications: HV6768, 364.1323
Publication Timeline
Key
Publications about Raymond Fisman
Publications by Raymond Fisman
Most widely held works by Raymond Fisman
Economic gangsters : corruption, violence, and the poverty of nations by Raymond Fisman( Book )
33 editions published between 2008 and 2010 in English and Undetermined and held by 1,220 libraries worldwide
"Meet the economic gangster. He's the United Nations diplomat who double-parks his Mercedes on New York City streets at rush hour because the cops can't touch him - he has diplomatic immunity. He's the Chinese smuggler who dodges tariffs by magically transforming frozen chickens into frozen turkeys. The dictator, the warlord, the unscrupulous bureaucrat who bilks the developing world of billions in aid. The calculating crook who views stealing and murder as just another part of his business strategy. And, in the wrong set of circumstances, he might just be you." "In Economic Gangsters, Raymond Fisman and Edward Miguel take readers into the secretive, chaotic, and brutal worlds inhabited by these lawless and violent thugs. Join these two sleuthing economists as they follow the foreign aid money trail into the grasping hands of corrupt governments and shady underworld characters. Spend time with ingenious black marketeers as they game the international system. Follow the steep rise and fall of stock prices of companies with unseemly connections to Indonesia's former dictator. See for yourself what rainfall has to do with witch killings in Tanzania - and more."--Jacket
The org : the underlying logic of office life by Raymond Fisman( Book )
4 editions published in 2013 in English and held by 594 libraries worldwide
Describes how the everyday dysfunction inherent in all organizations is actually a necessary part of the organization and uses case studies from McDonald's, Google, and even al Qaeda to prove that red tape, meetings, and management all serve a purpose
The inner lives of markets : how people shape them--and they shape us by Raymond Fisman( Book )
8 editions published between 2016 and 2017 in English and held by 404 libraries worldwide
"What is a market? To most people it is a shopping center or an abstract space in which stock prices vary minutely. In reality, a market is something much more fundamental to being human, and it affects not just the price of tomatoes but the boundaries of everything we value. Reading the newspapers these days, you could be forgiven for thinking that markets are getting ever more efficient-and better. But as Tim Sullivan and Ray Fisman argue in this insightful book, that view is far from complete. For one thing, efficiency isn't always a good thing-illegal markets are very often more efficient than legal ones, because they are free of concern for laws and human rights. But even more importantly, the chatter about efficiency has obscured a much broader conversation about what kind of economic exchange we actually want. Every regulation, every sticker price, and every sale is part of an ever-changing ecosystem-one that affects us as much as we affect it. By tracing 50 years of economic thought on this subject, Fisman and Sullivan show how markets have evolved-and how we can keep making them better. This leads to fascinating and surprising insights, such as: Why your $10,000 used car is likely to sell for $2,000 or less; Why you should think twice before buying batteries on Amazon; and Why it's essential that healthy people buy medical insurance. In the end, The Inner Lives of Markets argues for a new way of thinking about how you spend your money-it shows that every transaction you make is part of a grand social experiment. We are all guinea pigs running through a lab maze, and the sooner we realize it, the more effectively we can navigate the path we want"--
Trade credit, financial intermediary development and industry growth by Raymond Fisman( Book )
22 editions published between 2001 and 2002 in English and held by 114 libraries worldwide
Where do firms turn for financing in countries with poorly developed financial markets? One source is trade credit. And where formal financial intermediaries are deficient, industries that rely more on this source of financing grow faster
Economic gangsters : Korruption und Kriminalität in der Weltwirtschaft by Raymond Fisman( Book )
14 editions published between 2009 and 2014 in 7 languages and held by 107 libraries worldwide
Economisch onderzoek naar de oorzaken van en verbanden tussen corruptie, gewapend geweld en armoede(bestrijding) in de wereld
The org : how the office really works by Raymond Fisman( Book )
5 editions published in 2014 in English and held by 105 libraries worldwide
"Why do members of Al Qaeda have to submit travel and expenses reports? How do you create incentives for the police force, or for priests? What are managers good for? We create organisations because they are an efficient way of doing something we couldn't do alone. We join organisations because we are inspired by their mission, or their payslip. But once we're inside, these organisations rarely feel efficient or inspiring. In The Org, Ray Fishman and Tim Sullivan explain the trade-offs that every organisation makes, arguing that this everyday dysfunction is in fact actually inherent in the very nature of orgs. Woven throughout The Org are fascinating stories of organisation ranging from Google and McDonald's, to Al Qaeda and the island of Samoa. The Org tells us how the office really works. As such it is required reading for anyone who wants to come to terms with the frustrations of their workplace, or to work their way up the org" -- Publisher description
Financial development and growth in the short and long run by Raymond Fisman( Book )
17 editions published between 2004 and 2013 in English and Undetermined and held by 104 libraries worldwide
"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on outside finance due to a comparative advantage in these industries. By contrast, in the short-run we argue that financial development facilitates the reallocation of resources to industries with good growth opportunities, regardless of their reliance on outside finance. To test these predictions, we use a measure of industry-level 'technological' financial dependence based on the earlier work of Rajan and Zingales (1998), and develop new proxies for shocks to (short run) industry growth opportunities. We find differential effects of these measures on industry growth and composition in countries with different levels of financial development. We obtain results that are consistent with financially developed economies specializing in 'financially dependent' industries in the long-run, and allocating resources to industries with high growth opportunities in the short-run"--National Bureau of Economic Research web site
Tax rates and tax evasion : evidence from "missing imports" in China by Raymond Fisman( Book )
19 editions published in 2001 in English and held by 79 libraries worldwide
Tax evasion, by its very nature, is difficult to observe. In this paper, we present a case study of tax evasion in China. The novel feature of our approach is that at a very disaggregated level of individual products, we can measure evasion relatively precisely, by comparing the values that China reports as imports from Hong Kong, with what Hong Kong reports as exports to China. We can match up this evasion gap' with the tariff (and VAT tax) schedule at the product level. The result is striking: using the data in 1998, we find that on average, a 1 percent increase in the tax rate results in a 3 percent increase in evasion; these results hold using data from 1998. The result is similar when a first-difference specification is used with data in 1997 and 1998. This relationship is nonlinear: the evasion elasticity is larger at high tax levels. Furthermore, the evasion gap is negatively correlated with the tax rates on closely related products, suggesting that part of the evasion takes place by mis-reporting the type of imports, in addition to under-reporting the value of imports. This effect is even more pronounced when the evasion gap is measured using quantities rather than values
Die Anatomie der Organisation : warum wir zusammen besser sind by Raymond Fisman( Book )
13 editions published between 2013 and 2015 in English and German and held by 77 libraries worldwide
Perceptive analysis of why humans need organisations to achieve objectives, and of the trade-offs and compromises that blight organisations. Includes examples from diverse areas such as McDonald's and Al Qaeda, to explain how dysfunction is inherent in organisations -- no small undertaking
Decentralization and corruption : evidence across countries by Raymond Fisman( Book )
10 editions published in 2000 in English and held by 74 libraries worldwide
Empirical estimates suggest that fiscal decentralization in government spending is associated with lower government corruption
Corruption : what everyone needs to know by Raymond Fisman( Book )
2 editions published in 2017 in English and held by 71 libraries worldwide
A thought-provoking examination of the causes and consequences of corruption, as well as ways to overcome it, Corruption: What Everyone Needs to Know® provides a wide-ranging overview of the key questions and issues
Are corruption and taxation really harmful to growth? firm level evidence by Raymond Fisman( file )
13 editions published between 1999 and 2000 in English and Undetermined and held by 71 libraries worldwide
Evidence from Uganda confirms that corruption retards development even more than taxation does
Do stronger intellectual property rights increase international technology transfer? : empirical evidence from U.S. firm-level data by Lee Branstetter( Book )
18 editions published between 2004 and 2005 in English and held by 64 libraries worldwide
This paper examines how technology transfer within U.S. multinational firms changes in response to a series of IPR reforms undertaken by 16 countries over the 1982-1999 period. Analysis of detailed firm-level data reveals that royalty payments for technology transferred to affiliates increase at the time of reforms, as do affiliate R&D expenditures and total levels of foreign patent applications. Increases in royalty payments and R&D expenditures are concentrated among affiliates of parent companies that use U.S. patents extensively prior to reform and are therefore expected to value IPR reform most. For this set of affiliates, increases in royalty payments exceed 30 percent. Our results collectively imply that U.S. multinationals respond to changes in IPR regimes abroad by significantly increasing technology transfer to reforming countries
Are politicians really paid like bureaucrats? by Rafael Di Tella( Book )
12 editions published between 2001 and 2002 in English and held by 59 libraries worldwide
Abstract: We provide the first empirical analysis of gubernatorial pay. Using US data for 1950-90 we document, contrary to widespread assumptions, substantial variation in the wages of politicians, both across states and over time. Gubernatorial wages respond to changes in state income per capita and taxes, after controlling for state and time fixed effects. The economic effects seem large: governors receive a 1 percent pay cut for each ten percent increase in per capita tax payments and a 4.5 percent increase in pay for each ten percent increase in income per capita in their states. There is strong evidence that the tax elasticity reflects a form of reward-for-performanc.' The evidence on the income elasticity of pay is less conclusive, but is suggestive of rent extraction' motives. Lastly, we find that democratic institutions seem to play an important role in shaping pay. For example, voter-initiatives and the presence of significant political opposition lead to large reductions in the income elasticity of pay, and to large increases (at least double) in the tax elasticities of pay, relative to the elasticities that are observed when these democratic institutions are weaker
Outsourcing tariff evasion : a new explanation for entrepot trade by Raymond Fisman( Book )
20 editions published between 2005 and 2007 in English and held by 51 libraries worldwide
Traditional explanations for indirect trade carried out through an entrepôt have focused on savings in transport costs and on the role of specialized agents in processing and distribution. We provide an alternative perspective based on the possibility that entrepôts may facilitate tariff evasion. Using data on direct exports to mainland China and indirect exports to it via Hong Kong SAR, we find that the indirect export rate rises with the Chinese tariff rate, even though there is no legal tax advantage to sending goods via Hong Kong SAR. We undertake a number of extensions to rule out plausible alternative hypotheses
Financial dependence and growth revisited by Raymond Fisman( Book )
11 editions published in 2003 in English and held by 49 libraries worldwide
In this note, we revisit an earlier, highly influential paper on Financial Dependence and Growth by Rajan and Zingales (1998), by re-examining their assumptions, and the robustness of their results to alternative theories and interpretations. We first show that they may be implicitly testing whether financial intermediaries allow firms to better respond to global shocks to growth opportunities, rather than the extent that financial intermediaries allow firms to grow in industries with an inherent (technological) financial dependence. Furthermore, if this is the case, we claim that there exists a more direct measure of growth opportunities. In particular, if U.S. capital markets are perfect, then actual growth in the U.S. is a good proxy for global growth opportunities. We test this directly, by including U.S. industry growth in Rajan and Zingales' original specification, and find that our direct growth measure outperforms their financial dependence measure and, moreover, is less vulnerable to controlling for outliers and level of development. This still suggests an important role for finance in the allocation of resources, but shifts the emphasis from 'financial dependence' to 'global growth opportunities.'
Financial development and the composition of industrial growth by Raymond Fisman( Book )
11 editions published in 2003 in English and held by 47 libraries worldwide
Abstract: We re-examine the role of financial market development in the intersectoral allocation of resources. Specifically, we propose the use of a new methodology that looks at the co-movement in growth rates across pairs of countries to examine the role of financial development in allowing firms to take advantage of growth opportunities. Our model begins with the assumption that there exist common global shocks to growth opportunities, and we hypothesize that countries should therefore have correlated patterns of growth if they are able to take advantage of these shocks. We find that countries have more highly correlated growth rates across sectors when both countries have well-developed financial markets; this is consistent with financial markets playing an important role in allowing firms to take advantage of global growth opportunities. We further observe that growth opportunities will be more similar for countries that are at similar levels of economic development. This allows for a further refinement of our initial test: the impact of financial development on country-pair co-movement is much stronger between country pairs at similar levels of economic development. Finally, we note that our results imply that private banking appears to play a particularly important role in resource allocation, as our results are particularly strong when financial development takes into account both the level and composition of financial market institutions
Does competition encourage credit provision? : evidence from African trade credit relationships by Raymond Fisman( Book )
11 editions published in 2003 in English and held by 45 libraries worldwide
Previous work has claimed that monopoly power facilitates the provision of credit, since monopolists are better able to enforce payment. Here, we argue that if relationship-specific investments are required by borrowers to establish creditworthiness, monopoly power may reduce credit provision because hold up problems ex post will deter borrowers from investing in establishing creditworthiness. Empirically, we examine the relationship between monopoly power and credit provision, using data on the supply relationships of firms in five African countries. Consistent with the upfront investment story, we find that monopoly power is negatively associated with credit provision, and that this correlation is stronger in older supplier relationships. Because the data include several observations per firm, we are able to utilize firm fixed-effects, thus netting out unobserved firm characteristics that may have been driving results in earlier studies
Regulation of entry and the distortion of industrial organization by Raymond Fisman( Book )
10 editions published in 2004 in English and held by 37 libraries worldwide
We study the distortions to industrial organization caused by entry regulation. We take advantage of heterogeneity across industries in their natural barriers and growth opportunities to examine whether some industries are differentially affected by country-level entry regulation. In industries with high natural entry barriers, entry regulation has little impact on the quantity and average size of firms in an industry. By contrast, in industries with low natural entry barriers, countries with high entry regulation have relatively few, large firms. We find no relation between natural entry barriers and overall industry share of manufacturing, as a function of entry regulation. Utilizing firm-level data, we show that operating margins are relatively high in low barrier industries in high entry regulation countries. Finally, we analyze the ability of industries to take advantage of shocks to growth opportunities. In countries with high entry regulation, industries respond to growth opportunities through the expansion of existing firms, while in countries with low entry regulation, the response is through the creation of new firms; the total sectoral response is invariant to the level of regulation. Our results suggest that regulation distorts the structure of industry, promoting industry concentration, but does not have measurable effects on intersectoral allocations
Patterns of industrial development revisited : the role of finance by Raymond Fisman( Book )
9 editions published in 2002 in English and held by 24 libraries worldwide
Fisman and Love reexamine the role of financial market development in the intersectoral allocation of resources. First, they characterize the assumptions underlying previous work in this area, in particular, that of Rajan and Zingales (1998). The authors argue that Rajan and Zingales (1998) implicitly test whether financial intermediaries allow firms to better respond to global shocks to growth opportunities. Second, the authors propose a more efficient alternative test of this hypothesis using statistical techniques developed in the social networks literature. Specifically, they find that countries have more highly correlated growth rates across sectors when they have well-developed financial markets, suggesting that financial markets play an important role in allowing firms to take advantage of global growth opportunities. These results are particularly strong when financial development takes into account both the level and composition of financial development: private banking appears to play a particularly important role in resource allocation. The authors' technique allows them to further distinguish between the "growth opportunities" hypothesis stated above and the alternative "finance and external dependence" hypothesis, which implies that countries with similar levels of financial development should specialize in similar sectors. They do not find evidence to support this alternative view of finance and development. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to study access to finance
 
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Alternative Names
Fisman, R.
Fisman, R. 1971-
Fisman, Ray
Fisman, Ray 1971-
Fisman, Raymond J.
Fisman, Raymond J. 1971-
Ray Fisman Amerikaans econoom
Ray Fisman économiste américain
Ray Fisman US-amerikanischer Ökonom und Kolumnist
Raymond Fisman
Raymond Fisman economista estadounidense
피스먼, 레이
피스먼, 레이먼드
フィスマン, レイ
フィスマン, レイモンド
Languages
English (244)
German (5)
French (2)
Japanese (2)
Chinese (2)
Dutch (2)
Russian (1)
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