World Online Ranking of Best Economics & Finance Scientists – 2023 Report

by Imed Bouchrika, Phd

Co-Founder and Chief Data Scientist

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On March 1st 2023, Research.com released the 2nd edition of the annual ranking for best scientists in the area of economics and finance. The 2023 report containing the list of the best scholars in the field of economics and finance aims to provide the academic community access to the thought processes of leading scientists that continue to shape the field.

Through this report, we hope that researchers, decision-makers, and entrepreneurs from all parts of the world will be inspired to observe and study market dynamics as led by expert scientists in economics and finance. It also gives us the opportunity to get to know the leading experts in specific research areas of economics and finance, from different universities in various countries.

For the 2023 edition of the ranking, more than 8,100 scientist profiles from various bibliometric data sources have been examined by considering a number of indicators and metrics that eventually determined their inclusion in the best scientists ranking.

For this report, the D-index (Discipline H-index) threshold for a scholar to be considered for ranking was set to 30 provided that most of their publications were in the field of economics and finance. Other criteria in addition to D-index were the proportion of the contributions made within the discipline of economics & finance, as well as a scientist's achievements and awards within that discipline.

Latest discoveries in economics & finance research

COVID-19 has created economic and financial destruction on an unprecedented scale not just among businesses but also within governments as they performed interventions through bailouts. After a series of pandemic response evaluations and regroupings, by mid-2021 scholars in the field of economics and finance identified how various government measures had a direct negative and positive effect on financial markets, as well as on economic activities.

Research that centered on the impact of the pandemic on the economy and financial markets and financial regulation during the pandemic characterized the latest discoveries in economics and finance research. In addition, scientists also found evidence of how monetary measures can calm markets as well as the effectiveness of other monetary policies that were formulated to address the crisis.

As economic distress and uncertainty began to surface, economics and finance scholars were very eager to establish emergent knowledge and identify new practices that were proven effective in mitigating the impact of major economic and financial disruptions. The aim of recent research is to identify how financial markets and world economies coped with the large-scale impact of the pandemic, and identify key agendas for future research.

The key findings for the 2nd edition of the best economics & finance scientists ranking

• Scientists from the United States are dominating the ranking with 635 scholars representing 63.5% of all leading economics and finance scientists. The other countries that made it to the top of the list include the United Kingdom (113 scholars or 11.3%), Germany (34 scientists or 3.4%), the Netherlands (28 scholars or 2.8%), Australia (26 scientists or 2.6%), and China (20 scholars or 2%).
• 8 out of 10 scientists in the top 1% are from the United States.
• In 2023 Harvard University is the leading research institution with the highest number of economics and finance scholars. A total of 59 scientists are affiliated with Harvard University, which represents 5.9% of the ranking.
• World Bank ranks 13th in the list as the top-ranking non-educational research institution.
• The average h-index for the top 1% of scientists is 149.3 against an average of 65.38 for all scientists included in the ranking

The full ranking for the 2023 list of best economics and finance scientists can be found here:

BEST ECONOMICS & FINANCE SCIENTISTS RANKING

Countries with the highest number of leading economics & finance scientists

The United States further solidifies its top spot, adding nine more scientists this year, from 626 scientists in 2022. The country tops the 2023 report with 635 scholars, which represents 63.5% of the list of the best economics and finance scientists. Further, 8 out of 10 scientists in the top 1% are from the United States, while two scholars are from the United Kingdom and France.

Meantime, the United Kingdom ranks second with 113 scientists, five more scientists compared with last year. A far third is Germany with 34 ranking scholars, seeing a 5.56% drop in the number of scientists versus last year.

Following Germany, the Netherlands with 28 scientists bested Australia for the fourth spot, with the latter moving down to the fifth spot this year at 26 scholars. China, on the other hand, comes sixth and Italy at seventh with 20 scholars apiece. From its sixth ranking in 2022, Switzerland slid down to the eighth spot this year with 18 scholars.

Please note that the country associated with a scientist is based on their affiliated research institution, not on their actual nationality.

Institutions with the highest number of leading scientists

Harvard University leads the 2023 edition of the ranking with 50 researchers in the top list of economics and finance scientists. MIT comes next at the second spot with 37 scientists, while New York University ranks third with 33 scholars.

8 out of 10 research universities in the top 1% are based in the U.S., except for Imperial College London which is based in the UK, and Federal University of Toulouse in France.

Among the top-ranking US universities, Harvard is the only institution with three scientists that belong to the top 1%, occupying the 2nd, 8th, and 9th place.

Non-educational institutions that gained prominent ranking in the top list are the World Bank with 27 scholars, the International Monetary Fund with 17 scholars, and the US National Bureau of Economic Research with 7 scientists.

Among the 20 institutions with the highest number of scientists, 16 universities are based in the US, and three represent the United Kingdom including the London School of Economics and Political Science, the University of Oxford, and the University of Cambridge. Also included in the top 20 is the World Bank, an international financial institution.

Cross-Disciplinary Insights Through Online Education

The success of economic and finance research increasingly relies on bridging expertise across disciplines to unlock innovative methodologies. Collaborative projects that integrate diverse fields can drive novel insights for complex market challenges. Cost-effective online education provides exceptional opportunities for researchers to expand their networks and access specialized knowledge that supports cross-disciplinary endeavors. For example, enrolling in the most affordable online college can offer flexible, targeted programs designed to complement professional experience with academic growth.

Online universities support research continuity

Universities foster scientific research-oriented culture through a system of knowledge production, sharing, and development. The increasing acceptance of online economics degree programs has strengthened this by enabling faster knowledge exchange. Today, online universities that offer online degrees in finance are able to establish research communities, including reproducibility networks, that are not limited by geographical boundaries.

Online universities ensure the continuity of scholarly research even during unforeseen events such as the pandemic. Open research projects, workshops, and training such as the Data Champions of the University of Cambridge are conducted online and knowledge-sharing is facilitated. As a result, the academic community can quickly collaborate with other postgraduate students pursuing their economics degree online and conduct scientific research to help world economies and financial markets navigate the unpredictable environment.

Can condensed online master’s programs accelerate research impact?

Condensed online master’s programs offer a streamlined path to gain advanced expertise while meeting the fast-paced demands of research and industry. These programs enable professionals to build critical methodological and analytical skills in a shorter time frame, fostering immediate contributions to ongoing projects and collaborative endeavors. Moreover, they enhance the versatility of academic profiles by integrating practical research applications with theoretical instruction. For further insights on accelerated learning opportunities, consider exploring 1 year online masters programs.

How can these rankings impact career and research opportunities?

Recognized rankings serve as a strategic tool for driving career advancement and fostering research collaborations. They provide an objective benchmark for academic merit, influencing hiring decisions, grant allocations, and institutional reputation. Enhanced credibility can lead to increased funding prospects and more interdisciplinary projects that integrate diverse expertise. Professionals looking to diversify and strengthen their academic portfolio may also benefit from complementary educational pathways, including pursuing masters in legal studies online, which adds a legal perspective to financial and economic research.

How can affordable online credentials enhance your research profile?

To further solidify research expertise and career advancement, scholars are increasingly turning to specialized online credential programs that offer focused curricula and flexibility. These programs not only supplement academic achievements but also provide exposure to emerging methodologies and theoretical perspectives essential for innovation in economics and finance. By embracing such targeted education, professionals can boost interdisciplinary collaborations and gain a competitive edge in securing research funding and institutional support. Investing in these supplementary credentials, such as exploring cheap online graduate certificate programs, can be a strategic step toward building a robust, diversified academic portfolio.

How do academic achievements influence future earnings?

Research indicates that robust academic metrics not only enhance reputational capital but also correlate with increased financial opportunities post-research. Scholars demonstrating higher indices often secure advanced roles that leverage their research expertise, leading to improved compensation packages, strategic industry partnerships, and opportunities for high-impact policy consultancy. Comparative studies reveal that top-tier institutions and interdisciplinary collaborations further bolster earning potential, as they create pathways toward lucrative roles outside traditional academia. In this context, evaluating educational choices can be instrumental—explore What degrees make the most money? for detailed insights on degree-specific financial outcomes.

What are the benefits of pursuing an online doctoral program?

Online doctoral programs offer a flexible pathway that aligns with evolving research demands, enabling scholars to efficiently integrate advanced methodologies into their work while balancing professional responsibilities. These programs promote interdisciplinary collaboration and facilitate access to diverse academic resources that can accelerate innovative research. Furthermore, their structure often supports enhanced networking opportunities, linking emerging researchers with established experts and industry partners. For comprehensive program comparisons, refer to our comprehensive list of doctorate degrees.

H-index ranking – leaders, averages, and distribution

Professor Joseph E. Stiglitz from Columbia University in the US leads the list of top scientists with a high D-index of 177.

For Europe, Professor Mike Wright from Imperial College London in the UK with a D-index of 143 tops the list and also secures the 5th spot in the world ranking.

Professor Muhammad Shahbaz from the Beijing Institute of Technology in China with an h-index of 101 tops the list of scientists from Asia and is ranked 57th.

For Oceania, Professor David A. Hensher from the University of Sydney in Australia tops the list of scientists with a D-index of 101 and a world ranking of 56.

Professor Rangan Gupta, a researcher from the University of Pretoria, leads the ranking in South Africa and is also ranked 367th in the world ranking.

Professor Benjamin Miranda Tabak from Brazilian Fundação Getulio Vargas is the highest-ranking scientist from South America with a world ranking of 986.

The average D-index for the top 1% of scientists is 149.3 against an average of 65.38 for all 2000 scientists included in the ranking.

The scholar with the lowest index value who made it to the ranking in 2023 has a D-index of 46.

The average number of published articles for the 1% of scientists in the ranking is 624 against an average of 261 for all 2000 scholars.

The average number of citations for the top 1% of scientists is 174,876 against an average of 34,907 for all 2000 scholars.

You can learn more about the methodology used to create the ranking here.

About Research.com

All research was coordinated by Imed Bouchrika, Ph.D., a computer scientist with a well-established record of collaboration on a number of international research projects with different partners from the academic community. His role was to make sure all data remained unbiased, accurate, and up-to-date.

Research.com is the number one research portal for science and educational rankings. Our mission is to make it easier for professors, research fellows, and students to progress with their research and find the top experts in a wide range of scientific disciplines. Research.com is also a leading educational platform that helps students find the best colleges, academic opportunities, and career paths.