How Productive Are Economics and Finance PhDs?

Yihui Lan, Kenneth Clements and Zong Ken Chai

Australian Economic Review, 2023, vol. 56, issue 4, 442-461

Abstract: This article analyses the research productivity of more than 200 individuals in academe with a PhD in economics and finance from (mostly) Australian universities. We find the number of publications accumulates linearly with experience, while citations increase exponentially, pointing to network effects. Panel regressions indicate: (1) the key role of experience in determining research outcomes; (2) the usual quadratic approach substantially under‐estimates the role of diminishing returns to experience; (3) the university where an individual works is mostly unimportant for publications and citations. ‘Prime academic age’, when research has maximum impact, is attained about 11 years after the PhD.

Date: 2023
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https://doi.org/10.1111/1467-8462.12531

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