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RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2003 - 1

digital RIVISTA INTERNAZIONALE  DI SCIENZE SOCIALI - 2003 - 1
Digital issue
journal RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI
issue 1 - 2003
title RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2003 - 1
publisher Vita e Pensiero
format Digital issue | Pdf

Ebook format Pdf readable on these devices:

Articoli

A Conversation with Will Baumol on Capitalism, lnnovation and Growth
by A. Guarino, M. Iacopetta pages: 13 € 6.00
Persistence in lnnovation and Profitability
by Elena Cefis pages: 19 € 6.00
Abstract
The paper investigates the relationship between the strong inertia of finns profits and the persistence in innovative activities. The empirical analysis implements a non-parametric approach based on modelling the dynamics of the evolving cross-section distributions to analyse firms' intradistribution mobility and persistence. Results suggest that firms which are systematic innovators and earn profits above the average have large probabilities to keep innovating and earning profits above the average, as well as vice versa. Firm's relative position in innovation matters in the long run: the probability to earn profits above the average, is higher if firms start as systematic innovators.
An Inquiry on Heterogeneity in Lending and Lending Rates
by M. Mazzoli pages: 38 € 6.00
Abstract
Tlis paper contains two very simple empirical analyses of heterogeneiy in lending. The first one intends to test whether lenders' size, loans' size and risk and geographical factors affecting the «textbook » link between policy rate and lending raies. The second provides empirical evidence suggesting that lending to the larger borrowers is demand deterimined. For this purpose some dynamic panel data estimates are performed on the basis of a partially aggregate data set, specifically acquired frcim the Bank of Italy, which contains the data on interest rates, had debts and credit flows granted by different size categories of banks under the form of different size categoies of loans in different geographic areas of the country, for the period 1990 QI - 1998 QIV. The results show that the spread between interest rate on the various classes of bank loans and the monetary policy rate is not influenced by the loan size, while it seems to be more affected by proxies for risk. Furthermore, the behaviour of the largest size class of bank loans shows a pattern consistent with a demand determined behaviour, which suggests that (both according to the money view and the credit view) lending to the other smaller size classes is residually detemined.
Trade Liberalization, Investment and Growth
by Elena Seghezza pages: 25 € 6.00
Abstract
This paper presents five theoretical openness and growth links that can account for trade-induced investment-led growth. The links are all demonstrated with a neoclassical growth model developed in the context of trade models that allow for imperfect competition and scale economies. This sort of old-growth theory in a new-trade model has not been thoroughly explored in the literature since the profession skipped from old-growth-old-trade models straight to new-growth-new-trade models. Nonetheless, such models are necessary to explain several key aspects of the econometric evidence on trade and growth. For example, cross-country data suggests that openness influences growth only via its effect on investment, and suggests that openness promotes investment in all countries whatever the capital-intensive of their exports (contrary to predictions of the old-growth-old-trade models).

Note e discussioni