The thesis focuses on the process of international openness of Transition Countries. This study provides a theoretical analysis based on reference literature, and an empirical analysis which is aimed at estimating some main effects of Foreign Direct Investment. Transition has represented a highly complex phenomenon, characterized by several aspects, whose interaction has shaped the developmental path of each country involved. Although the thesis focuses on economic issues it is outstanding to underline that Transition implies political, institutional, and even social deep changes, which must be taken into consideration in the general overview of the contex. The empirical part has been developed along two different ways: a country analysis and a firm analysis, thus allowing to widen the study and delve deeper into the use of econometric instruments. More specifically, in the first empirical stage both static (Fixed Effects) and dynamic (LSDV Corrected) methodologies have been implemented, whereas in the second stage the Cox Proportional Function has been chosen in order to handle with censored data.

This book is dedicated to the Law and Economics analysis of civil liability of securities underwriters for the damage caused by material misstatements of corporate information by securities issuers. It seeks to answer a series of important questions. Who the are underwriters and what is their main role in the securities offering? Why there is a need for legal intervention in the underwriting market? What is so special about civil liability as an enforcement tool? How is civil liability used in a real world and does it really reach its goals? Finally, is there a need for a change and, if so, by what means?

La ricerca si propone un duplice obbiettivo: 1. provare, attraverso l’applicazione di un metodo teorico tradizionale di analisi economico-finanziaria, il livello ottimale di equilibrio finanziario fra accesso al credito esterno e capitale proprio; 2. mostrare l’utilità di alcuni strumenti finanziari partecipativi per la ricapitalizzazione dell’impresa cooperativa. Oggetto di studio è l’impresa cooperativa che si occupa di una o più fasi del processo di lavorazione, trasformazione e prima commercializzazione del prodotto agricolo conferito dai soci, confrontata con le imprese di capitali che svolgono la medesima attività. La società cooperativa e quella capitalistica saranno, pertanto analizzate in termini di liquidità generata, redditività prodotta e grado di indebitamento, attraverso il calcolo e l’analisi di una serie di indici, tratti dai rispettivi bilanci d’esercizio. È opportuno sottolineare che nella seguente trattazione sarà riservato uno spazio al tema della ricerca del valore nell’impresa cooperativa inteso come espressione della ricchezza creata dai processi aziendali in un determinato periodo di tempo tentando di definire, se esiste, una struttura finanziaria ottimale , ossia uno specifico rapporto tra indebitamento finanziario e mezzi propri, che massimizzi il valore dell’impresa. L’attenzione verso la struttura finanziaria, pertanto, non sarà solo rivolta al costo esplicito del debito o dell’equity, ma si estenderà anche alle implicazioni delle scelte di finanziamento sulle modalità di governo dell’impresa. Infatti molti studi di economia aziendale, e in particolar modo di gestione d’impresa e finanza aziendale, hanno trattato il tema dell’attività di governo dell’impresa, quale elemento in grado di contribuire alla creazione di valore non solo attraverso la selezione dei progetti d’investimento ma anche attraverso la composizione della struttura finanziaria. / Cooperatives have been chosen as starting point of this analysis because they represent a form of vertical integration of the supply chain. As a matter of fact, cooperatives are almost a projection of their members’ firms and have an immediate fall-out effect on the economy at territorial level. The specific objectives were: identification of ratios of performance of cooperatives; evaluation of credit worth to improve the bank-cooperative relationship; evaluation of the creation of value in the cooperatives and non-cooperatives. Data of balansheets are based on AIDA databank and the financial ratios were: profitability, capital invested and working capital, collection period, inventories, debts and financial cycle, cost of leverage, cash flows, strategy of investment.

The fall of the Berlin Wall opened the way for a reform path – the transition process – which accompanied ten former Socialist countries in Central and South Eastern Europe to knock at the EU doors. By the way, at the time of the EU membership several economic and structural weaknesses remained. A tendency towards convergence between the new Member States (NMS) and the EU average income level emerged, together with a spread of inequality at the sub-regional level, mainly driven by the backwardness of the agricultural and rural areas. Several progresses were made in evaluating the policies for rural areas, but a shared definition of rurality is still missing. Numerous indicators were calculated for assessing the effectiveness of the Common Agricultural Policy and Rural Development Policy. Previous analysis on the Central and Eastern European countries found that the characteristics of the most backward areas were insufficiently addressed by the policies enacted; the low data availability and accountability at a sub-regional level, and the deficiencies in institutional planning and implementation represented an obstacle for targeting policies and payments. The next pages aim at providing a basis for understanding the connections between the peculiarities of the transition process, the current development performance of NMS and the EU role, with particular attention to the agricultural and rural areas. Applying a mixed methodological approach (multivariate statistics, non-parametric methods, spatial econometrics), this study contributes to the identification of rural areas and to the analysis of the changes occurred during the EU membership in Hungary, assessing the effect of CAP introduction and its contribution to the convergence of the Hungarian agricultural and rural. The author believes that more targeted – and therefore efficient – policies for agricultural and rural areas require a deeper knowledge of their structural and dynamic characteristics.

Il tema dei prodotti agroalimentari di qualità ha ormai assunto un ruolo rilevante all’interno del dibattito riguardante l’agricoltura e l’economia agroalimentare, ponendosi al centro dell’interesse delle politiche europee (PAC post 2013, Pacchetto Qualità). La crescente attenzione verso le produzioni con marchio Dop\Igp mette però in luce la sostanziale carenza di informazioni dettagliate relativamente alle aziende che operano in questo comparto. Da questo punto di vista il VI° Censimento generale dell’agricoltura costituisce una preziosa fonte di informazioni statistiche. L’obiettivo di questo lavoro è quello di utilizzare i dati, ancora provvisori, del censimento per analizzare la struttura delle aziende con produzioni di qualità, ponendola in confronto con quella delle aziende convenzionali. Inoltre è stata fatta una classificazione delle aziende con prodotti Dop\Igp, in base alla rilevanza di queste produzioni sul reddito lordo aziendale. Le aziende sono quindi state classificate come “Specializzate” e “Miste”, con un’ulteriore distinzione di queste ultime tra quelle “Prevalentemente Dop\Igp” e quelle “Prevalentemente non Dop\Igp”. Tale ripartizione ha consentito una definizione dettagliata degli orientamenti produttivi delle aziende analizzate. / Recently, within the debate concerning agriculture and its economy, the problem of food quality becomes much more central for the European politics (PAC post 2013, Quality package 2010). This increasing attention on Pdo\Pgi productions, is truly underlining the lack in information about farms and factories actually working in this field. To solve this problem, the VI° Agricultural Census could be considered as a great source of statistical data. Aim of this study was to use this dataset to analyze those farms which are, so far, producing quality foods, comparing them to the more conventional ones. Moreover, a chart based on the relevance of Pdo\Pgi production on the whole farms net gain was created. Farms were then clustered in “specialized” and “mixed”; the last were again separated in two more groups: “mainly Pdo\Pgi” and “mainly not Pdo\Pgi”. This kind of partition allowed a more detailed definition of the productive tendency in the analyzed farms.

Climate change has been acknowledged as a threat to humanity. Most scholars agree that to avert dangerous climate change and to transform economies into low-carbon societies, deep global emission reductions are required by the year 2050. Under the framework of the Kyoto Protocol, the Clean Development Mechanism (CDM) is the only market-based instrument that encourages industrialised countries to pursue emission reductions in developing countries. The CDM aims to pay the incremental finance necessary to operationalize emission reduction projects which are otherwise not financially viable. According to the objectives of the Kyoto Protocol, the CDM should finance projects that are additional to those which would have happened anyway, contribute to sustainable development in the countries hosting the projects, and be cost-effective. To enable the identification of such projects, an institutional framework has been established by the Kyoto Protocol which lays out responsibilities for public and private actors. This thesis examines whether the CDM has achieved these objectives in practice and can thus be considered an effective tool to reduce emissions. To complete this investigation, the book applies economic theory and analyses the CDM from two perspectives. The first perspective is the supply-dimension which answers the question of how, in practice, the CDM system identified additional, cost-effective, sustainable projects and, generated emission reductions. The main contribution of this book is the second perspective, the compliance-dimension, which answers the question of whether industrialised countries effectively used the CDM for compliance with their Kyoto targets. The application of the CDM in the European Union Emissions Trading Scheme (EU ETS) is used as a case-study. Where the analysis identifies inefficiencies within the supply or the compliance dimension, potential improvements of the legal framework are proposed and discussed.

This work contributes to the field of spatial economics by embracing three distinct modelling approaches, belonging to different strands of the theoretical literature. In the first chapter I present a theoretical model in which the changes in urban system’s degree of functional specialisation are linked to (i) firms’ organisational choices and firms’ location decisions. The interplay between firms’ internal communication/managing costs (between headquarters and production plants) and the cost of communicating with distant business services providers leads the transition process from an “integrated” urban system where each city hosts every different functions to a “functionally specialised” urban system where each city is either a primary business center (hosting advanced business services providers, a secondary business center or a pure manufacturing city and all this city-types coexist in equilibrium.The second chapter investigates the impact of free trade on welfare in a two-country world modelled as an international Hotelling duopoly with quadratic transport costs and asymmetric countries, where a negative environmental externality is associated with the consumption of the good produced in the smaller country. Countries’ relative sizes as well as the intensity of negative environmental externality affect potential welfare gains of trade liberalisation. The third chapter focuses on the paradox, by which, contrary to theoretical predictions, empirical evidence shows that a decrease in international transport costs causes an increase in foreign direct investments (FDIs). Here we propose an explanation to this apparent puzzle by exploiting an approach which delivers a continuum of Bertrand- Nash equilibria ranging above marginal cost pricing. In our setting, two Bertrand firms, supplying a homogeneous good with a convex cost function, enter the market of a foreign country. We show that allowing for a softer price competition may indeed more than offset the standard effect generated by a decrease in trade costs, thereby restoring FDI incentives.

This doctoral thesis aims at contributing to the literature on transition economies focusing on the Russian Federations and in particular on regional income convergence and fertility patterns. The first two chapter deal with the issue of income convergence across regions. Chapter 1 provides an historical-institutional analysis of the period between the late years of the Soviet Union and the last decade of economic growth and a presentation of the sample with a description of gross regional product composition, agrarian or industrial vocation, labor. Chapter 2 contributes to the literature on exploratory spatial data analysis with a application to a panel of 77 regions in the period 1994-2008. It provides an analysis of spatial patterns and it extends the theoretical framework of growth regressions controlling for spatial correlation and heterogeneity. Chapter 3 analyses the national demographic patterns since 1960 and provides a review of the policies on maternity leave and family benefits. Data sources are the Statistical Yearbooks of USSR, the Statistical Yearbooks of the Russian Soviet Federative Socialist Republic and the Demographic Yearbooks of Russia. Chapter 4 analyses the demographic patterns in light of the theoretical framework of the Becker model, the Second Demographic Transition and an economic-crisis argument. With national data from 1960, the theoretically issue of the pro or countercyclical relation between income and fertility is graphically analyzed and discussed, together with female employment and education. With regional data after 1994 different panel data models are tested. Individual level data from the Russian Longitudinal Monitoring Survey are employed using the logit model. Chapter 5 employs data from the Generations and Gender Survey by UNECE to focus on postponement and second births intentions. Postponement is studied through cohort analysis of mean maternal age at first birth, while the methodology used for second birth intentions is the ordered logit model.

This dissertation consists of three empirical studies that are believed to provide new contributions to the literature exploring the determinants of children/adolescents achievement test scores (Chapter 2), adolescent health risk behaviors (Chapter 3), and children time use patterns (Chapter 4). The second and third studies look at the separate roles of fathers and of mothers in influencing outcomes, wherein parental time is the resource input of interest quantitatively measured and directly derived from time diaries. The last chapter looks at the time allocation of children and how it varies according to child and household characteristics.

The thesis contemplates 4 papers and its main goal is to provide evidence on the prominent impact that behavioral analysis can play into the personnel economics domain.The research tool prevalently used in the thesis is the experimental analysis.The first paper provide laboratory evidence on how the standard screening model–based on the assumption that the pecuniary dimension represents the main workers’choice variable–fails when intrinsic motivation is introduced into the analysis.The second paper explores workers’ behavioral reactions when dealing with supervisors that may incur in errors in the assessment of their job performance.In particular,deserving agents that have exerted high effort may not be rewarded(Type-I errors)and undeserving agents that have exerted low effort may be rewarded(Type-II errors).Although a standard neoclassical model predicts both errors to be equally detrimental for effort provision,this prediction fails when tested through a laboratory experiment.Findings from this study suggest how failing to reward deserving agents is significantly more detrimental than rewarding undeserving agents.The third paper investigates the performance of two antithetic non-monetary incentive schemes on schooling achievement.The study is conducted through a field experiment.Students randomized to the main treatments have been incentivized to cooperate or to compete in order to earn additional exam points.Consistently with the theoretical model proposed in the paper,the level of effort in the competitive scheme proved to be higher than in the cooperative setting.Interestingly however,this result is characterized by a strong gender effect.The fourth paper exploits a natural experiment setting generated by the credit crunch occurred in the UK in the2007.The economic turmoil has negatively influenced the private sector,while public sector employees have not been directly hit by the crisis.This shock–through the rise of the unemployment rate and the increasing labor market uncertainty–has generated an exogenous variation in the opportunity cost of maternity leave in private sector labor force.This paper identifies the different responses.