1,721,016 research outputs found
Le parole dello sviluppo locale
No full textThe paper is aimed to discuss some of the words of the "local development" approach used by Enrico Ciciotti during his scientific work. Three are the issues raised by the author: the role played by the territorial space in promoting local development, the role played by the organization of the governance of the territory and the role played by the process of strategic evaluation in the analysis and reporting on local development policies
Prefazione
No full textIl contributo fornisce una prefazione al volume riprendendo i temi principali delle politiche europee in fase di pandemia
La finanza per lo sviluppo sostenibile: un'analisi dello stato dell'arte
No full textSustainability and sustainable development are relevant issues of the current debate on the future of the planet. Sustainability is a multidimensional concept and includes not only environmental issues but also social, economic and institutional issues. Private strategies and policy orientations towards sustainability imply taking into account explicitly risk emerging from economic choices of consumption and investment.
The role of financial instruments supporting sustainability has been widely recognized in the economics and financial literature and in the on field experience, since risk and future are two components of most of financial contracts.
Nowadays the new challenges on sustainability are emerging from an increasing push coming from the demand side. Consumers are increasingly interested in demanding goods and service (including financial services) compliant with the sustainability issues. Moreover, also investors in the financial markets are increasingly looking for sustainable and responsible investment but also clients are increasingly demanding financial products that allows one to contribute to reduce risk of an uncertain future. Additionally, policies are increasingly focused on sustainability policies due to a variety of reasons: the need to change the paradigm of production in the current models of development and the increasing interest coming from people, recently also young generations.
The paper starts from the concepts of sustainability and sustainable development depicting the relationship between sustainability and financial markets. A regulatory framework is provided at worldwide level, focusing on the recent Action plan of the European Union for a sustainable development. The analysis is finally implemented looking at the financial products that are emerging from the on-field experience of financial firms. Responsible and sustainable investment, financial inclusion and microcredit, support to environmental friendly investment projects and risk assessment for any investment project are the most relevant areas of financial products or practices implemented. There financial institutions that are organizing their activities on the basis of an ethical, responsible and sustainable approach and the results are positive. Most of the experiences surveyed are moving from an approach CSR-oriented to a revision of the business models, adopting practices and products (retail and corporate) oriented towards sustainable development. Nevertheless, even if the attention of regulation and the market is dramatically increasing, the process of change among the financial institutions seems to be still too slow and too cautious
Redistribution and Tax Evasion: an Asymmetric Information Approach
Full text linkThe article studies the optimal redistribution system, achieved by direct taxation, indirect taxation and public provision of the pseudo-necessary good, when individuals, who differ in productivity, can take hidden actions (tax evasion by moral hazard) and have hidden information (tax evasion by adverse selection). It proves that any Government willing to effectively reallocate resources among individuals has to undertake measures against tax evasion, i.e. to establish tax evasion fines
L'impatto territoriale del Piano Nazionale di ripresa e resilienza
No full textIl Piano nazionale di ripresa e resilienza (Pnrr) si sta dispiegando in questi mesi e, nonostante alcune difficoltà legate all’azione del Parlamento sul fronte delle riforme, finora sono stati raggiunti tutti gli obiettivi previsti. Per questo motivo, il Piano nazionale di ripresa e resilienza sta dispiegando i suoi effetti operativi e soprattutto sta mettendo davanti l’intero Paese, nelle sue articolazioni istituzionali centrali e periferiche oltre che tra le imprese e nei territor
Spillover diffusion and regional convergence: a gravity approach
No full textAmong the different sources of regional growth, agglomeration economies, both internal to
regions and external to regions (spillovers) play a primary role. However the presence of
agglomeration economies may obstacle the path toward cohesion making rich (poor) regions
become richer (poorer). While, according to New Growth Theory and New Economic Geography,
there is no doubt that internal economies may lead to divergence, the debate on the role of
external economies on convergence is still open. Much, of course, depends on the spatial extension
of spillovers. The aim of this work is to study the spatial dimension of spillovers using the
framework of cross-region growth regression. In particular we seek to explain whether the
intensity of spillover is either completely exogenous or it can be explained by some endogenous
regional characteristics. Results indicate that the intensity of externalities is determined by a) the
regional geographical position and b) the distance from neighbors with high growth rates. While
the first is completely exogenous, the second is not. Curiously enough, infrastructural endowments
and factors commonly assumed to induce agglomeration do not contribute to explain the intensity
of spillovers. Results have important policy implications. Since spillovers characterize more core
regions, which are well connected to other rich regions, than periphery, the presence of these
externalities may foster the increase of disparities between core and periphery, making harder to
reach the objective of cohesion
Knowledge, innovation, agglomeration and regional convergence in the EU: motivating place-based regional intervention
Full text linkThe accumulation of knowledge, human capital and agglomeration are indicated as prominent sources of externalities. Therefore, this study examines their contributions to the economic growth of regions in Europe, while accounting for non-linear and threshold effects as well as spatial dependence. The results highlight differentiated growth patterns for less and more developed regions with the effect of knowledge being considerable only in the latter group. The findings suggest that there is the potential for innovation and agglomeration in many less developed regions located in both the new member states (NMS) and the old member states (OMS). However, to reach sustained growth, structural change is necessary in these regions. We conclude that the existing gaps in the economic structure are deemed responsible for the persistence of income disparities. This reinforces the call for specific policy actions in catching-up regions, thus strengthening the arguments in favour of a place-based approach to regional policy
The competition between legal and illegal firms in the market: Theoretical models and empirical evidence
Full text linkThe main aim of this paper is to study the phenomenon of the coexistence of firms with illegal characteristics and firms showing legal behaviour in developed economies by using an evolutionary competition model known as the Lotka-Volterra equations. Enterprises in a ‘legal system’ obey the extant laws, particularly market rules, while enterprises in an ‘illegal system’ disregard them. Illegal enterprises have a competitive advantage over legal enterprises, yet they cannot survive if legal enterprises disappear completely. The numerical solution of the Lotka-Volterra equations are used to show how there can be a situation of coexistence between legal and illegal enterprises and how state intervention can help reduce illegality in an economic system. This paper outlines a new approach to address the problem of coexistence because it uses non-linear and evolutionary tools to define the competition between legal and illegal firms. The research gap presented in this paper is addressed using the predator-prey scheme to model the competition between legal and illegal firms, which is perceived as the competition between two populations with different fitness levels (survival probabilities). This competition gives rise to three different types of possible equilibrium outcomes: survival of only legal firms, survival of only illegal firms and coexistence of these two types of firms. An empirical analysis of an Italian case study confirms the results of this paper’s theoretical model
The impact of NRPP on Italy's economic system and regional systems
No full textThe National Recovery and Resilience Plan constitutes a significant opportunity for our country to restart a season of economic planning on a renewed basis. One of the elements of greatest attention will certainly be the measurement of the effects of the plan and the contribution, starting from the assumption that the PNRR has an objective of impacting the cohesion of the country, suggests some considerations regarding the impact at a territorial level. Subsequently, a first survey of sectoral impact and macroeconomic impact assessments is proposed, which will obviously need to be updated in consideration of the changed overall picture that has emerged in the first months of 2022
The Economic Evaluation of Megaprojects
No full textMegaprojects play a foremost role not only in developed countries, but also and mainly in developing countries in several respects. As correctly stated by van Wee and Tavasszy (2008), first, they are heavily under debate at the political level because of their economic impacts and important budget implications 1. Sec- ond, there is a lively debate also among scholars and practitioners owing to the huge cost escalation and schedule delay of these projects (Flyvbjerg et al., 2003; Odeck, 2004), but also due to the uncertainty of their wider economic effects (namely due to the externalities connected to them)
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