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A Suggested Method for the Measurement of World-Leading Research (Illustrated with Data on Economics)

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  • Oswald, Andrew J.

    ()
    (University of Warwick)

Abstract

Countries often spend billions on university research. There is growing interest in how to assess whether that money is well spent. Is there an objective way to assess the quality of a nation's world-leading science? I attempt to suggest a method, and illustrate it with modern data on economics. Of 450 genuinely world-leading journal articles, the UK produced 10%, and the rest of Europe slightly more. Interestingly, more than a quarter of these elite UK articles came from outside the best-known university departments. The proposed methodology could be applied to almost any academic discipline or nation.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 4313.

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Length: 22 pages
Date of creation: Jul 2009
Date of revision:
Publication status: published in: Scientometrics, 2010, 84 (1), 99 - 113
Handle: RePEc:iza:izadps:dp4313

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Keywords: evaluation; European economics; United Kingdom; peer-review; Research Excellence Framework (REF); science; citations; Research Assessment Exercise (RAE);

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References

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  1. Hamermesh, Daniel S. & Pfann, Gerard A., 2009. "Markets for Reputation: Evidence on Quality and Quantity in Academe," IZA Discussion Papers 4610, Institute for the Study of Labor (IZA).
  2. DREZE, Jacques H; & ESTEVAN, Fernanda, . "Research and higher education in economics: can we deliver the Lisbon objectives," CORE Discussion Papers RP, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) -1941, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Scott Smart & Joel Waldfogel, 1996. "A Citation-Based Test for Discrimination at Economics and Finance Journals," NBER Working Papers 5460, National Bureau of Economic Research, Inc.
  4. Ana Rute Cardoso & Paulo Guimarães & Klaus F. Zimmermann, 2008. "Comparing the Early Research Performance of PhD Graduates in Labor Economics in Europe and the USA," Discussion Papers of DIW Berlin 850, DIW Berlin, German Institute for Economic Research.
  5. Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge 9526, Faculty of Economics, University of Cambridge.
  6. Machin, Stephen & Oswald, Andrew, 2000. "UK Economics and the Future Supply of Academic Economists," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 110(464), pages F334-49, June.
  7. Amanda H Goodall, 2005. "Should Research Universities be Led by Top Researchers? Part 1: Are they?," HEW, EconWPA 0506003, EconWPA.
  8. Brazier, John & Roberts, Jennifer & Deverill, Mark, 2002. "The estimation of a preference-based measure of health from the SF-36," Journal of Health Economics, Elsevier, Elsevier, vol. 21(2), pages 271-292, March.
  9. Oswald, Andrew J., 2006. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision-makers," The Warwick Economics Research Paper Series (TWERPS) 744, University of Warwick, Department of Economics.
  10. Daniel S. Hamermesh & Peter Schmidt, 2003. "The Determinants of Econometric Society Fellows Elections," Econometrica, Econometric Society, Econometric Society, vol. 71(1), pages 399-407, January.
  11. J. Peter Neary & James A. Mirrlees & Jean Tirole, 2003. "Evaluating Economics Research in Europe: An Introduction," Journal of the European Economic Association, MIT Press, MIT Press, vol. 1(6), pages 1239-1249, December.
  12. Stephen Wu, 2007. "Recent publishing trends at the AER, JPE and QJE," Applied Economics Letters, Taylor & Francis Journals, Taylor & Francis Journals, vol. 14(1), pages 59-63.
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Cited by:
  1. Daniel Sgroi & Andrew J. Oswald, 2013. "How Should Peer‐review Panels Behave?," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 0, pages F255-F278, 08.

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