The Global Markets Institute is the research think tank within Goldman Sachs Research.
Latest
Closing the Gender Gaps 2.0: Fresh Data Show More Work to Do
The latest gender pay gap analysis from the Global Markets Institute reveals that the unexplainable share of the wage gap has increased — a sign there’s more work to be done. Read Report
Taking the Heat: Making Cities Resilient to Climate Change
Cities will be on the frontlines of climate adaptation. Building up their resilience has the potential to drive one of the largest infrastructure build-outs in history and will likely require innovative sources of financing. Read Report
A Survivor's Guide to Disruption
In a collection of essays, the Global Markets Institute examines how companies can reshape themselves to better compete in today’s Everything-as-a-Service (EaaS) economy. Read Report
The Competitive Value of Data
Data is now the lifeblood of many firms, particularly in the modern economy in which companies tend to focus on their narrow area of expertise while outsourcing the rest. From organizing and optimizing complex multi-vendor production processes to customer acquisition, service and retention – these modern firms are almost entirely dependent on data. Naturally, trying to use data to establish a competitive edge has therefore become big business. Read Report
What the Market Pays For
What do markets pay for when they value companies? The common refrain of frustrated managements is that markets are too short-term oriented and miss the long-term potential. But a deep dive into how the market responds to earnings shows the divide is less about time frame than visibility – investors are paying for predictable and persistent revenue. Read Report
Reinvigorating Small Businesses: Identifying Obstacles and Finding Solutions to Drive Growth and Job Creation
[Global Markets Institute] The quality of the current U.S. economic recovery – now among the longest on record – has varied widely for small firms relative to large ones. Despite what the national economic data would suggest, new firm formation has been softer than in the past and small businesses have suffered tepid employment, revenue and wage growth relative to large firms. Read Report
Directors' Dilemma: Responding to the Rise of Passive Investing
[Global Markets Institute] The recent decline in active single-stock investing means that companies’ stock prices have become less correlated to their own fundamental performance. This raises important considerations for corporate boards of directors, according to a new report by Goldman Sachs' Global Markets Institute. Read Report
Narrowing the Jobs Gap: Overcoming Impediments to Investing in People
[Global Markets Institute] Although technological change is good for the economy over the long run, it isn’t necessarily good for everyone, particularly in the short term. The economy as a whole benefits from the higher living standards that technological innovation generates. But for the people whose jobs are displaced by technology, the macro benefits are of little comfort. Read Report
The Two-Speed Economy
[Global Markets Institute] Large corporations have performed well during the recovery from the 2008 financial crisis, generating strong revenue growth, rising employment and robust wage growth. Small firms, in contrast, have suffered low rates of business formation and tepid employment growth. Employees of small firms have also seen significantly weaker wage growth than employees of large firms have enjoyed. Read Report
Who Pays for Bank Regulation?
[Global Markets Institute] In the wake of the financial crisis, a wide range of new and revised rules, regulations and practices have been imposed on the US banking industry. These include measures to strengthen and raise capital, reduce leverage, improve balance sheet liquidity and bring greater standardization and transparency to derivatives markets. They also include new rules around credit card availability and debit-interchange fees, along with heightened regulatory and judicial scrutiny of bank lending and other practices. Read Report
Giving Credit Where it is Due
[Global Markets Institute] Investing in women and girls is one of the highest return opportunities available in the developing world, as a wide range of economic research shows. Our own work has demonstrated that bringing more women into the labor force can significantly boost per capita income and GDP growth. Our research has also shown that women’s higher propensity to use their earnings and increased bargaining power to buy goods and services that improve family welfare can create a virtuous cycle: female spending supports the development of human capital, which fuels economic growth in the years ahead. Read Report
'Too Big to Fail' From an Economic Perspective
[Global Markets Institute] Since the crisis, regulators have significantly enhanced the regulation and supervision of the largest US banks (US G-SIFIs). While some issues remain to be ironed out, most of the key steps to protect taxpayers from absorbing losses from a failing bank have already been put in place. Most notable are the initial “lines of defense” to protect against future bank failures: higher and stronger capital requirements and the improved associated incentives for equity holders. Read Report