A high share of foreign currency denomination of domestic public debt in rules out any recourse to inflation tax as an effective adjustment device. Anti- inflation policies based upon hard peg regimes may remove the exchange rate risk in the short run but - as pointed out by Argentina’s...

This paper deals with the evolution of automobile sector during the 1990s in Central and Eastern Europe (CEE) Countries from a double point of view. At first, we wonder about the applicability to the sector of Flying Geese (FG) model, theorised by Kaname Akmatsu in the 1930s to explain...

The paper develops a small open economy growth model with endogenous innovations, in the presence of environmental externalities. Building on the Grossman ad Helpman (1991) analytical framework of endogenous growth in open economies, pollution is introduced into the analysis in the form of a...

The economic collapse of 2007-10 is described as a debt deflation crisis triggered by a speculative bubble. The basic causes are traced back to the policy choices of the great capitalist powers governing globalization. Market liberalization and the TRIPS agreements work as a sort of global...

This paper examines the relationship between international production and exports for a number of countries. In the theoretical literature the relationship between direct investment and trade is not certain apriori: some works emphasize their complementarity, others their reciprocal...

It is argued that, differently from a diffuse practice among modern economists, one needs reading more than the first couple of pages of the Wealth of Nations in order to fully appreciate Smith’s contribution to the economics of exchange, innovation and economic evolution. In particular, by...

Following the growing interest towards the role of the knowledge in the modern economies the economic literature has focused a lot of studies into the role of the producers of new knowledge, e.g. universities and public research institutions. The relations between these bodies and the firms, the...

The new Information and Communication Technologies (ICT) represent an important challenge for SME. Especially in the context of local productive areas, this topic may be relevant as a new opportunity of competitiveness for the system as a whole. In this working paper, the focus is on the...