Aldo Musacchio

@MusacchioAldo | LinkedIn | @NBER
Associate professor of Economics, Strategy and International business,

International Business School, Brandeis University, and Faculty Research Fellow, National Bureau of Economic Research (NBER)

-Frontier Markets / mapping frontier markets
-State capitalism
-State-owned enterprises
-Petrobras, Pemex, Ecopetrol
-China, Brazil, Mexico, Colombia, Argentina, & emerging markets
-Development banks (BNDES)
-National champions, sovereign wealth funds
-Corruption, FCPA
[high resolution pictures here or here or here]
[Para fotos de alta resolucao seguir qualquer dos seguintes links 1 or 2 or 3]

Strategy in Emerging Markets

Mapping Frontier Markets (With Eric Werker) Harvard Business Review, December 2016 In this paper we provide a simple framework to aid in the design of successful entry and survival strategies in frontier markets. Follow us @frontierecon4 and in our web page

Research on state capitalism

Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond

Aldo Musacchio & Sergio G. Lazzarini
Harvard University Press, 2014
[Read the introduction of the book here]
Watch me present the book to a group of students at Harvard University


The Economist Schumpeter Column: Leviathan as a Capitalist

Working papers on STATE CAPITALISM:

1. State-Owned Enterprises in Latin America... Again? Old Problems, New Solutions (Book manuscript in preparation)
2. Does the Bond Market Discipline State Owned Enterprises?
3. Turnover in State-Owned Enterprises (preparing for submission)
4. State Ownership Reinvented? Examining Performance Gaps between State-Owned and Private Firms (under submission)
5. State-Owned Enterprises in Brazil: History and Lessons (OECD Working Paper)
6. Leviathan in Business: Varieties of State Capitalism and their Implications for Economic Performance
7. State-Owned Multinationals: An Agency Approach (in preparation)

Published papers on State Capitalism

1. New Varieties of State Capitalism: Strategic and Governance Implications, Academy of Management Perspectives 29-1 (2015) (with Sergio G. Lazzarini and Ruth Aguilera).
2. What Do State-Owned Development Banks Do? Evidence from BNDES, 2002-09. World Development 66 (February 2015) (with Sergio G. Lazzarini, Rodrigo Bandeira de Mello, and RosileneMarcon)
3. Governments as Owners: State Owned Multinational Companies, Journal of International Business Studies, 45-9 (2014) (with Alvaro Cuervo-Cazurra, Kannan Ramaswamy, and AndrewInkpen)
4. Leviathan as a Minority Shareholder: Firm-level Implications of Equity Purchases by the State ,Academy of Management Journal 56-6 (December 2013) (with Carlos F. K. V. Inoue and Sergio G. Lazzarini)
5. In Strange Company: The Puzzle of Private Investment in State-Controlled Firms Cornell International Law Journal 46-3 (2013) (With Mariana Pargendler and Sergio G. Lazzarini)

  1. State-Owned Enterprise Reform in Latin America: Issues and Possible Solutions, Inter-American Development Bank Discussion Paper IDB-DP-401 (With Emilio I. Pineda Ayerbe and Gustavo Garcia)
  2. The Role and Impact of Development Banks: A Review of their Founding, Focus and Influence, World Bank manuscript, November, 2016 (with Sergio Lazzarini, Pedro Makhoul, and Emily Simmons)

Latest article on the Petrobras Corruption Scandal in Brazil, in Foreign Affairs Latin America

Interview with the Ivey Business Journal (mostly on SOEs in China and Canada)

Online debate on State Capitalism: Aldo Musacchio vs Ian Bremmer
**A critical review of Ian Bremmer's book G-Zero in Reuters The great Debate blog

Research on Foreign Bank Entry and the Mexican Economy

  1. [Book] These Are the Good Old Days: Foreign Entry and the Mexican Banking System, book manuscript forthcoming in Spanish (Los Buenos Tiempos son Estos), Centro de Estudios Espinosa Yglesias, 2014. (with Stephen Haber)
  2. Foreign Entry and the Mexican Banking System, 1997-2007. Economia (Fall 2012) (with Stephen Haber)
  3. Bank Accounting Standards in Mexico. A Layman's Guide to Recent Changes and their English Equivalence (published in Spanish as "NORMAS CONTABLES BANCARIAS EN MEXICO. Una guiade los cambios para legos diez anos despues de la crisis bancaria de 1995.") Trimestre Economico 73, no. 4 (October/December 2006): 903-926 (With Gustavo Del Angel and Stephen Haber)
  4. Un nuevo indice de precios para Mexico, 1886-1929 (Transl. A New Price Index for Mexico, 1886-1929) Trimestre Economico 67-1 (January-March, 2000): 47-91 (With Aurora Gomez-Galvarriato)