Trade theory traces back different patterns of internationalization to heterogeneity between firms, measured both through differences in productivity levels and size. In this paper we analyze the link-between heterogeneity within sectors and internationalization choices, namely trade and foreign...

This paper provides evidence on the links between productivity and internationalisation choices for a large sample of both large and small-medium sized Italian firms. By using detailed qualitative and quantitative information we first identify those firms engaged in international activities...

This study discriminates FDI technology spillover from learning effects. Whenever learning takes time, our model predicts that foreign investors deduct the economic value of learning from wages of inexperienced workers and add it to experienced ones to prevent them from moving to local...

If an economy runs a current account (CA) deficit and finances it via a corresponding net inflow of equity capital the external debt (ED) does not change, i.e.: the CA deficit does not add to ED. This is no paradox. It simply comes from the definition of CA deficit and ED and points to different...

It is commonly believed that accumulation of human capital (HC) and availability of physical and financial capitals are among the major determinants of economic growth. In a globalised world, where factors of production are increasingly mobile, the process of domestic accumulation of HC might be...

The role of migrants’ networks in promoting cross border investments has been stressed in the literature, possibly making migration and FDI complements rather than substitutes in the long run. In this paper, we estimate the magnitude of such business network externalities in dynamic empirical...

This paper explores the links between the patterns of migration (high vs. low-skill), trade policy, and foreign direct investment (FDI) from the standpoint of sending countries. A skeleton general equilibrium model with a non-traded good and sector-specific labour is used to explore the effects...

In a globalised world, where factors of production are increasingly mobile, the process of domestic accumulation of HC can be affected in several ways through migration and capital inflows. In addition, endowment of skilled labour and foreign direct investments(FDI) may reinforce each other...

The global crisis and the expansionary government reaction in many countries has revamped the at-tention of policy makers and academics on the growth effects of large public debts. Recent empiri-cal studies investigate the impact of public debt on growth in advanced and emerging countries. This...