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Connecting to power : political connections, innovation, and firm dynamics
Akcigit, Ufuk; Baslandze, Salomé; Lotti, Francesca - 2022
How do political connections affect firm dynamics, innovation, and creative destruction? We extend a Schumpeterian growth model with political connections that help firms ease their bureaucratic and regulatory burden. The model highlights how political connections influence an economy's business...
Persistent link: https://www.econbiz.de/10014240947
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Debt Restructuring and the Role of Lending Technologies
Micucci, Giacinto - 2010
The literature on debt restructuring usually assumes that banks behave in a uniform way towards firms in distress. Using a recent survey of Italian banks, we show that banks follow different strategies when they decide whether to take part in the workout process, in that some of them do...
Persistent link: https://www.econbiz.de/10013136541
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Bridging the Gap Between Migrants and the Banking System
Albareto, Giorgio - 2011
banks to sole proprietorships based in Italy. We find that migrants pay, on average, almost 70 basis points more for credit … than natives. The interest rate differential is lower for entrepreneurs born in Italy whose parents were natives of other … countries (“second generation” migrants) and for migrants whose parents were natives of Italy (“Italian migrants”). These …
Persistent link: https://www.econbiz.de/10013125742
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The Causal Effect of Credit Guarantees for SMEs : Evidence from Italy
D'Ignazio, Alessio - 2013
We evaluate the effectiveness of a partial credit guarantee program implemented in a large Italian region using unique microdata from a broad set of firms. Our results show that the policy was effective to the extent that it resulted in an improved financial condition for the beneficiary firms....
Persistent link: https://www.econbiz.de/10013082527
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Social Capital and the Cost of Credit : Evidence from a Crisis
Mistrulli, Paolo Emilio - 2015
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/10013023488
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Innovation and Productivity in SMEs - Empirical Evidence for Italy
Hall, Bronwyn H.; Lotti, Francesca; Mairesse, Jacques - 2013
Innovation in SMEs exhibits some peculiar features that most traditional indicators of innovation activity do not capture. Therefore, in this paper, we develop a structural model of innovation which incorporates information on innovation success from firm surveys along with the usual R&D...
Persistent link: https://www.econbiz.de/10014199891
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The Internationalization of Italian Production and Industrial Districts : An Analysis of Investment
Federico, Stefano - 2006
to the literature on industrial districts, the results help understanding why Italy's FDI on GDP ratio is lower than in …
Persistent link: https://www.econbiz.de/10014057116
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The Rise of Risk-Based Pricing of Mortgage Interest Rates in Italy
Magri, Silvia - 2011
The paper assesses the extent to which mortgage rates in Italy are priced according to credit risk as proxied by the …
Persistent link: https://www.econbiz.de/10013128110
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Modelling Italian Potential Output and the Output Gap
Bassanetti, Antonio - 2011
The aim of the paper is to estimate a reliable quarterly time-series of potential output for the Italian economy, exploiting four alternative approaches: a Bayesian unobserved component method, a univariate time-varying autoregressive model, a production function approach and a structural VAR....
Persistent link: https://www.econbiz.de/10013128341
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Does Investing Abroad Reduce Domestic Activity? Evidence From Italian Manufacturing Firms
Bronzini, Raffaello - 2011
complements. We take advantage of a unique firm-level panel data set from the Bank of Italy Survey of Industrial and Service Firms …
Persistent link: https://www.econbiz.de/10013128478