1,721,001 research outputs found
A Spatial Analysis of Growth and Convergence In Italian Provinces: the Role of Road Infrastructure
No full textThe role of road infrastructure in reducing economic disparities is debated both in Europe and in the US. During the 60’s, huge investments in highways significantly reduced the time run between North and South Italy. A spatial analysis of convergence is performed. Results show that the effect of road infrastructure investment was significant but accompanied by a strong polarization between North and South (also emerging from nonparametric analysis) that it failed to prevent, possibly because investment in the South was not large enough to close the accessibility gap with the Centre- North, a gap that appears to persist during the subsequent years
MULTIPLE BANKING RELATIONSHIPS AND OVER-LEVERAGE IN ITALIAN MANUFACTURING FIRMS
No full textThe purpose of this paper is to shed more light on the determinants of the number of bank lending relationships. In particular we look at the link between over-leverage and the number of banking relationships for a sample of Italian manufacturing firms, distinguishing between firms with a main bank and firms without a main bank. The main result of the paper is that the number of banking relationships increases with over-leverage only for firms without a main bank. We argue that this result is consistent with the view that, when banks perform transaction lending, firms can increase their debt capacity by increasing the number of creditors, promising ex ante up to the full amount of available assets to each one of the creditors. Copyright � 2006 The Authors; Journal compilation � 2006 Blackwell Publishing Ltd and The University of Manchester.
Income dynamics in an enlarged Europe: the role of capital regions
No full textThis article is intended to study, by means of both a nonparametric and a parametric approach to convergence, whether after the latest enlargements of the European Union the traditional twofold spatial regime of regional per capita income growth, predicting a north/south and/or a cohesion/non-cohesion countries divide, should be replaced by an alternative east/west spatial pattern. A second relevant issue is whether new member regions where capital cities are located are benefiting from the same “network effect” that enhanced growth in old member capital regions during the 1980s and early 1990s. We find evidence, by means of spatial econometrics tools, of significant spatial effects in the enlarged Europe which seems to be formed by a group of old member regions, slowly becoming more homogeneous, and a newcomers group which represents a separate “convergence club” but whose capital regions are rapidly integrating into the west. The European regional policy may play a crucial role in this context
European banks and cross-selling
No full textAccording to a part of economic literature, the growing competition among financial intermediaries, together with the consequent interest margin shrink, induced many banks to enter new markets and adopt cross-selling strategies. Our results show that two kinds of banks coexist in Europe: cross-selling banks, more interested in 'depositors' than in loans, and traditional banks, interested in granting loans to good borrowers. The awareness of the deep difference existing between these two types of banks now operating in Europe is very important for the implementation of an effective economic policy in the face of the financial crisis. We find evidence that cross-selling banks tend to be localized in countries where the banking system is less concentrated but they are not characterized by lower interest margins.
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
The Italian financial system: neither bank based nor marked based
No full textNew data on the sources of ¢nance for the non-¢nancial corporate sector show that Italian ¢rms as a whole use more equity ¢nance than their Anglo-Saxon counterparts, and smaller Italian ¢rms use equity more intensively than larger ¢rms. Both ¢ndings can be understood in terms of the structure of industry and banking in Italy and the
relations between them. Firm managers have considerable autonomy vis-a© -vis both ¢nancial markets and intermediaries, and the Italian ¢nancial system should be seen as substantially di¡erent from either the high internal ¢nance systems of the USA and the UK or the bank-
based system of Japan
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
- …
