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This dissertation comprises three essays on the topic of industrial organization. The first essay considers how different intellectual property systems can affect the incentives to invest in R&D when innovation is cumulative. I introduce a distinction between plain and sophisticated technological knowledge, which plays a crucial role in determining how different appropriability rules affect the incentives to innovate. I argue that the positive effect of weak intellectual property regimes on the sharing of intermediate technological knowledge vanishes when technological knowledge is sophisticated, as is likely to be the case in many high tech industries. The second essay analyzes a two-sided market for news where advertisers may pay a media outlet to conceal negative information on the quality of their own product (paying positive to avoid negative) and/or to disclose negative information on the quality of their competitors products (paying positive to go negative). It is shown that whether advertisers have negative consequences on the accuracy of media reports or not, ultimately depends on the extent of correlation among advertisers products. The third essay considers the role of social learning in the diffusion of a new technology. A population of agents can choose between two risky technologies: an old one for which they know the expected outcome, and a new one for which they have only a prior. Different environments are confronted. In the benchmark case agents are isolated and can perform costly experiments to infer the quality of the new technology. In the other cases agents are settled in a network and can observe the outcomes of neighbors. We observe that in expectations the quality of the new technology may be overestimated when there is a network spread of information.

Traditionally Poverty has been measured by a unique indicator, income, assuming this was the most relevant dimension of poverty. Sen’s approach has dramatically changed this idea shedding light over the existence of many more dimensions and over the multifaceted nature of poverty; poverty cannot be represented by a unique indicator that only can evaluate a specific aspect of poverty. This thesis tracks an ideal path along with the evolution of the poverty analysis. Starting from the unidimensional analysis based on income and consumptions, this research enter the world of multidimensional analysis. After reviewing the principal approaches, the Foster and Alkire method is critically analyzed and implemented over data from Kenya. A step further is moved in the third part of the thesis, introducing a new approach to multidimensional poverty assessment: the resilience analysis.

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Negli ultimi anni le istituzioni e la regolamentazione hanno svolto un ruolo sempre più importante nell’analisi della crescita economica. Tuttavia, non è facile interpretare le istituzioni e gli effetti dei regolamenti sulla crescita attraverso indicatori che tendono a “misurare” le istituzioni. Lo scopo di questa ricerca è analizzare la relazione di lungo periodo tra la crescita economica e la regolamentazione e il ruolo della regolamentazione antitrust sulla crescita economica. La stima econometrica dei modelli di crescita con la concorrenza e gli indicatori di potere di mercato si base su un dataset appositamente costruito che copre 211 Paesi, su un arco temporale massimo di 50 anni (da 1960 a 2009). In particolare, cerchiamo di identificare un quadro analitico volto a integrare l’analisi istituzionale ed economica al fine di valutare il ruolo della regolamentazione e, più in generale, il ruolo delle istituzioni nella crescita economica. Dopo una revisione della letteratura teorica ed empirica sulla crescita e le istituzioni, vi presentiamo l’analisi dell'impatto normativo (RIA) in materia di concorrenza, e analizziamo le principali misure di regolamentazione, la governance e le misure antitrust. Per rispondere alla nostra domanda di ricerca si stimano modelli di crescita prendendo in considerazione tre diverse misure di regolamentazione: la Regulation Impact (RI), la Governance (GOV), e la libertà economica (LIB). Nel modello a effetti fissi, RI, gli effetti della legislazione antitrust sulla crescita economica sono significativi e positivi, e gli effetti di durata antitrust sono significativi, ma negativi. Nel pannel dinamico, GOV, gli effetti dell’indicatore di governance sulla crescita sono notevoli, ma negativo. Nel pannel dinamico, LIB, gli effetti della LIB sono significativi e negativi. / During last years institutions and regulations have played an increasingly and important role in the growth economic analysis. However, it is not easy to interpret the institutions and regulations effects on growth using indicators which tend to “measure” institutions. The purpose of this research is analyse the long-run relationship between economic growth and regulation, and the role of antitrust regulation on economic growth. Our econometric estimation of growth models with competition and market power indicators based on an expressly conceived dataset including 211 countries, over a maximum period range of 50 years (from 1960 to 2009). In particular, we try to identify an analytical framework aiming to complement the institutional and economic analysis in order to assess the regulation role and more generally, the role of institutions in economic growth. After a theoretical and empirical literature review on growth and institutions, we present the Regulatory Impact Analysis (RIA) on competition, and we analyse the main regulation, governance and antitrust measures. To answer our research question we estimate several growth models considering three regulatory measures: Regulation Impact (RI), Governance (GOV), and Economic Freedom (LIB). In the RI fixed effect model, the effects of antitrust legislation on economic growth are significant and positive, and the effects of antitrust duration are significant but negative. In the GOV dynamic panel, the effects of governance index on growth are significant but negative. In the LIB dynamic panel the effects of LIB are significant and negative.

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?

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.