The analysis of social interactions as drivers of economic dynamics represents a growing field of the economics of complexity. Social interactions are a specific form of interdependence whereby the changes in the behavior of other agents affect the structure of the utility functions for...

Over the past two decades, a wide empirical literature has addressed the theme of firm-level financial constraints, supporting the hypothesis that the availability of internal funds is indeed a major driver of investment decisions. The largest part of such empirical analyses detects the presence...

This paper contributes to the analysis of the persistence of innovation activities, as measured by total factor productivity (TFP), and explores its internal and external determinants stressing its path-dependent characteristics. The external conditions, namely the quality of local knowledge...