<i> La teoria della moneta e della banca nei primi quarant'anni del novecento: alle radici della teoria del circuito monetario </i> (di Alberto Zazzaro) - ABSTRACT: Starting from a critical review of the reconstruction of the debate on the nature of money and banking suggested by Realfonzo in his book...

We present a simple theory and an empirical test for state dependence in firm access to credit. We estimate a first-order Markov model of credit restriction with sample selection that makes it possible to estimate state dependence in the presence of feedback effects and observed and unobserved...

This paper looks at the effects of International Monetary Fund (IMF) lending programs on banking crises in a large sample of developing countries, over the period 1970-2010. The endogeneity of the IMF intervention is addressed by adopting an instrumental variable strategy and a propensity score...

The intimate linkages between law and finance are currently the centre of wide-ranging empirical investigations. This article presents a simple banking model with information asymmetries concerning borrowers' entrepreneurial talent. It is shown that improvements in the enforcement of contract by...

type="main" xml:lang="en" <title type="main">ABSTRACT</title> <p>Recent studies indicate that the effect of migrants’ remittances on the economic growth of receiving countries depends negatively on the level of development of the domestic financial sector. In this paper, we introduce a new indicator of financial...</p>

More than a decade has now gone by since the crises of Banco di Napoli, Banco di Sicilia, Sicilcassa and the majors southern “Casse di Risparmio” have actually decreed the vanishing of an independent banking system in southern regions, but the economic and political debate on the effects of...

In this paper we present a new theory accounting for the heterogeneous impact of family firms on economic growth. We develop an overlapping generations model, where agents are heterogeneous in innate talent, and family firms have access to an additional source of managerial capital, family...

The survival and competitiveness of the agricultural sector is increasingly threatened by the aging process of farmers and farms. In this perspective, the European Union has launched a number of initiatives directed towards favoring the entry of a new generation of young entrepreneurs in the...