ABSTRACT
Economists’ positions in rankings are often associated with the notion of “merit” through “hard work” or “talent” wherein achieving high rankings is believed to be a result of individual efforts and achievements. However, research has shown that top-ranked economists typically hail from a select few prestigious institutions and operate within closed academic networks. Among the most significant rankings in economics are those related to scientific journal publications, with the “Top five” (the American Economic Review, Econometrica, The Quarterly Journal of Economics, the Journal of Political Economy and The Review of Economic Studies) holding the utmost importance. Publishing in these journals leads to substantial career advancement and symbolic capital. This study focuses on Switzerland, a significant player in the transnational scientific field of economics. Utilising data from the Swiss Elite Database on economics and finance professors in Swiss universities from 1991 to 2020, the research explores the relationship between the “excellence” of the academic careers and Top five publications. The findings reveal that Top five publications impact career outcomes (i.e. the time between the PhD and the first tenured position) in Switzerland, much like in the US. Additionally, the study investigates whether publication success is solely driven by hard work and talent or if personal and organisational networks play a crucial role. The results demonstrate that affiliations with the top ten departments or connections with PhD supervisors with Top five publications and, especially, with an editorial position in a Top five journal significantly increase the likelihood of publishing in these prestigious journals, reducing the scope for meritocracy in the field of economics.
