Why people put the details of publication process like revise and resubmit in their CVs?
In economics, the publication process takes a long time.  The slow review process largely results form a slow review and a slow resubmission process. Because editors know that reviews are slow, they only send items to review or give an R&amp;R if they think they have a good shot of being published in the journal.  The fact that a paper was sent for review or given an R&amp;R a particular journal means that it passes some bar of quality. This signal is important on a junior researcher’s CV. Noting a paper is under review also allows the CV reader to understand that the paper is fully written ( although of course there are other ways to note this). 

There are few downsides to the researcher to noting that a paper is under review or has an R&amp;R because It is such an established norm in the field. I would not hesitate to follow this norm if you are preparing your CV.