Search results for " Politica economica"
showing 10 items of 154 documents
The challenge of a place-based and network approach to the development in the territories
2016
This paper investigates the role of research networks inside local development processes to increase the competitiveness of underdeveloped territories. This paper, within the scope of local development theory, aims to describe the state of the art on the regional research systems resulting largely from programs co-financed between 2000 and 2013, with which the various regions are preparing to engage in programming for the period 2014-2020. The extent of consistency between the objectives of sectorial specialization set by policies previously or currently implemented and those in the planning phase (S3) is assessed, as is their connection with existing territorial specializations at a region…
Booms, Busts and normal times in the housing market
2015
We assess the existence of duration dependence in the likelihood of an end in housing booms, busts, and normal times. Using data for 20 industrial countries and a continuous-time Weibull duration model, we find evidence of positive duration dependence suggesting that housing market cycles have become longer over the last decades. Then, we extend the baseline Weibull model and allow for the presence of a change-point in the duration dependence parameter.We show that positive duration dependence is present in booms and busts that last less than 26 quarters, but that does not seem to be the case for longer phases of the housing market cycle. For normal times, no evidence of change-points is fo…
Can fiscal policy stimulus boost economic recovery
2011
We assess the role played by fiscal policy in explaining the dynamics of asset markets. Using a panel of ten industrialized countries, we show that a positive fiscal shock has a negative impact in both stock and housing prices. However, while stock prices immediately adjust to the shock and the effect of fiscal policy is temporary, housing prices gradually and persistently fall. Consequently, the attempts of fiscal policy to mitigate stock price developments (e.g. via taxes on capital gains) may severely de-stabilize housing markets. The empirical findings also point to significant fiscal multiplier effects in the context of severe housing busts, which gives rise to the importance of the im…
Sustainable Development and Transition Management: A New Approach for European Peripheral Areas
2020
This paper on Europe as a sustainable economy and its policy for peripheral areas contributes to the analysis on the relationship between Transition Management and new approaches to regional development. It follows that regions are different ecosystems which require not only conventional macroeconomic visions for development processes, but also a precise spatial approach based on different levels of geographical aggregation. The physical environment, therefore, becomes a useful element not only to analyze the transition mechanisms, but also as a constitutive part of economic, social and environmental changes in the short, medium, and long term. A number of interesting aspects are examined a…
Territorial Capital and the Great Recession: a Nuts-3 Analysis for Central and Southern Italy
2012
The analyses on the effects of the actual crisis have been mainly concentrated on a national and international dimension, leaving aside the differential effects of the crisis on regions and sub-regional areas. Notwithstanding the international character of the Great Recession, it has to be stressed that the different structural features of regions and urban areas might influence the economic and social impact of the crisis. They also might have an important effect on the resilience and recover chance. In the present paper, we focus on territorial capital, a concept that takes into account of the different features of goods and services in terms of their degree of appropriability and rivalry…
Valutazione ex-post degli incentivi alle imprese nelle economie territoriali: nuovi sviluppi
2015
[No abstract available]
Some insights on the link between terrorism, organised crime and ‘new wars’
2014
Purpose - The purpose of this chapter is to investigate on the relationship between terrorism, criminal organisations, and the so-called 'new wars'. Methodology/approach - Review of the existing literature on the 'new wars' and on the terrorism-crime nexus; estimate of the financial revenues gained by terrorist groups engaged in illicit activities. Findings -Terrorist and criminal groups can develop several forms of collaboration. Whether terrorists convert to criminal activities or not depends on a variety of factors, both internal and external. In some cases these links are occasional and opportunistic, associated with the possibility of exploiting the availability of specialised competen…
Political, Institutional, and Economic Factors Underlying Deficit Volatility
2013
It is well known that fiscal policy can counter-cyclically smooth out the effect of unexpected shocks and public deficit volatility may reflect the (optimal) policy response to them. However, the welfare losses associated to fiscal instability are also an important challenge for many countries, as it typically implies an inefficient allocation of resources, higher sovereign risk premium and an inadequate provision of public services. In this paper, we empirically analyze the political, institutional, and economic sources of public deficit volatility. Using the system-generalized method-of-moments (GMM) estimator for linear dynamic panel data models and a sample of 125 countries analyzed fro…
How costly are debt crises?
2011
The aim of this paper is to assess the short- and medium-term impact of debt crises on GDP. Using an unbalanced panel of 154 countries from 1970 to 2008, the paper shows that debt crises produce significant and long-lasting output losses, reducing output by about 10 percent after eight years. The results also suggest that debt crises tend to be more detrimental than banking and currency crises. The significance of the results is robust to different specifications, identification and endogeneity checks, and datasets.