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The volume collects the essays presented at the conference "Social capital, economics and political economy" held in Rome on 27 June 2014. The first session analyzes definition and measurement issues about social capital. The second and third sessions examine its determinants and economic...
Persistent link: https://www.econbiz.de/10011277932
Social capital is a key factor affecting the functioning of financial markets (Guiso, Sapienza and Zingales, 2004). However, the estimation of the effect of social capital on credit markets is notoriously difficult. In this paper we exploit the recent Lehman Brothers crisis and a rich dataset to...
Persistent link: https://www.econbiz.de/10011265441
This paper considers the role of preferences in explaining trust. By using the Bank of Italy�s Survey on Household …-reported trust. They both predict negatively a measure of generalized trust; however, risk aversion is positively correlated with an … preferences when analysing the role of trust in explaining socio-economic outcomes might pose serious challenges in terms of …
Persistent link: https://www.econbiz.de/10011105132
The relationship between inequality and trust has attracted the interest of many scholars who have found a negative … relationship between the two variables. However, the causal link from inequality to trust is far from being identified and the … findings, income inequality significantly and negatively affects generalised trust. However, this result only holds for …
Persistent link: https://www.econbiz.de/10011105137
terms of trust and trustworthiness, and average trust predicts average trustworthiness across countries. Entrepreneurial … each country, preferences for regulations depend negatively on individual trust; across countries, lower trustworthiness …
Persistent link: https://www.econbiz.de/10008459743
Persistent link: https://www.econbiz.de/10013437456
The paper investigates the relationship between the underground economy and financial deepening. Entrepreneurs can only access external finance by disclosing credible information in formal documentation. This may be impossible for many informal producers, who lack proper accounting records....
Persistent link: https://www.econbiz.de/10005113532
In this paper, we test whether micro firms run by migrants pay more for credit than firms run by natives and whether the differences in the cost of credit for these two groups of entrepreneurs decrease as the informational and cultural gaps narrow. We employ a large and unique data set providing...
Persistent link: https://www.econbiz.de/10008865937
We assess the effects of the sovereign debt crisis on Italian banks� activity using aggregate data on funding and loan rates, lending quantities and income statements for the period 1991-2011. We augment standard reduced-form equations for the variables of interest with the spread on...
Persistent link: https://www.econbiz.de/10011105110
This paper investigates the existence of cross-sectional differences in the response of lending to monetary policy and GDP shocks owing to a different degree of bank capitalization. The effects on lending of shocks to bank capital that are caused by a specific (higher than 8 per cent) solvency...
Persistent link: https://www.econbiz.de/10005467288