This paper evaluates the impact of an R&D subsidy program implemented in a region of northern Italy on innovation by beneficiary firms. In order to verify whether the subsidies enabled firms to increase patenting activity, we exploit the mechanism used to allot the funds. Since only projects...

This paper investigates empirically whether inward greenfield foreign direct investment (FDI) is related to greater sectorial innovation in the host Italian provinces. We combine several sources of data to estimate panel count models, regressing the annual number of patents in each province and...

In this paper we study a policy tool called technology districts, implemented in Italy over the last decade to foster local innovation activity. First, we examine the characteristics of technology districts and those of the firms within them. Next, we assess the performance of district firms. We...

Between the 1880s and the 1930s, three “regulatory cycles” can be identified in Italy. In the underlying model, each financial crisis gives rise to regulatory changes, which are circumvented in due time by financial innovation, that can then contribute to the outbreak of a new financial...