This paper analyses the aerospace industry through the lens of global value chains, linking a country position in the chain to the strength of its innovation system. The analysis covers the years 2007-2018 for 38 countries. The participation of countries to different stages of the GVC is proxied...

This paper provides the first empirical attempt of linking firms' profits and investment in R&D revisiting Knight's (1921) distinction between uncertainty and risk. Along with the risky profit-maximizing scenario, identifying a second, off-setting, unpredictable bias that leads to heterogeneous...

The paper investigates the effect of spatial agglomeration on firm exit in a dynamic framework. Using a large dataset at the industry-province level for Italy (1998-2007), we estimate a spatial dynamic panel model via a GMM estimator and analyze the short-run impact of specialization and variety...