Suchergebnisse

AbstractItaly is characterised by a significant dualistic economy, which also includes an extensive underground sector. The aim of this study is to analyse the relationship between the quality of legislation and irregular employment in Italy. Our contribution consists of two components: the theoretical modelling of the impact of regulatory quality on the informal economy and the empirical validation of the predictions of the theoretical model using data from the Italian region between 2004 and 2019. The results confirm the theoretical and empirical arguments in favour of the need for laws to curb the informal sector. The regions with the highest institutional standards tend to have a lower percentage of irregular workers that fosters and encourages the legality of the labor market. Some robustness tests back up the main conclusions which show how important following rules is for strengthening the internal economy and for lowering the number of illegal workers.

AbstractEffective government rules and regulations, as well as the ability of the regulator to curb corruption and promote voice and accountability, can influence the ability of bank management to allocate resources and ensure high performance. Based on this assumption, we aim to find out whether institutional quality is able to improve bank performance in Italy. To do so, we rely mainly on the diversity of banks, thus capturing the different behaviors of the two main categories, i.e. cooperative and for‐profit banks. Using a parametric method, the results show a clear impact of most dimensions of institutional quality on reducing banks' cost inefficiency. Some robustness checks, especially regarding the role of market structure, confirm our findings.

AbstractWe appraise the effects of institutional quality on public spending for a set of 27 European countries and 18 Euro‐area economies over the 1996–2017 period. While institutions play a weak role in affecting spending once the fixed‐effects model is employed, the application of the quantile regression indicates that improved institutional quality mitigates public spending, although the effects crucially depend on the distribution of public expenditure and the sample examined. For both the Euro‐area sample and the full sample, we show that better quality of institutions reduces public spending, although the effects become less significant the higher the levels of public spending. Further, for the Euro‐area sample, institutions appear to have a stronger role in mitigating public spending. Several robustness tests confirm our findings.

PurposeUsing data for a set of 32 Sub-Saharan countries over the years 2000, 2005 and 2010, the paper investigates the effects of domestic governmental stability upon emigration and assesses whether education and gender shape the relationship.Design/methodology/approachThe paper adopts instrumental variable (IV) Poisson regressions and two-stage least squares (2SLS) as robustness tests.FindingsThe paper suggests that increased governmental stability has a larger impact on the emigration of high-skilled individuals. Nevertheless, once emigrants are partitioned according to both education and gender, the authors find evidence of a larger impact of stability on the emigration of highly educated females.Research limitations/implicationsThe empirical findings may lack generalizability because of the chosen research approach. Then, researchers are encouraged to test the proposed propositions further.Practical implicationsThe paper includes implications that can be drawn for both the growth and the development of Sub-Saharan Africa.Originality/valueThis paper fulfills an identified need to study how both education and gender shape the relationship between domestic governmental stability and emigration.

AbstractIn Italy, there are gender and geographical differences on early school leaving, obesity and physical activity among young adults (18–24 year olds). We examine whether weight status (overweight/obesity) is associated with a higher probability that a young adult is an early school leaver using Italian data based on the second wave of the European Health Interview Survey. Our results show that body mass index, which is the main proxy of weight status, positively affects the probability of being an early leaver. Being male increases the probability of being an early leaver in all macro‐areas, although the coefficient is higher in southern regions than in northern and central regions. Furthermore, we address the endogeneity problem, in which physical activity is used as an instrument of weight status to capture the possible endogeneity between weight status and the probability of early school leaving. Our results show that weight status is a better predictor of early school leaving for females than for males and is a better predictor for females living in northern and central regions than for females living in southern regions. These results suggest that females could benefit more than males from policies promoting physical activity and, more broadly, healthier lifestyles, at both the physical and the educational level; furthermore, these policies should be more aimed at females living in the northern and central regions where the less widespread phenomenon of overweight/obesity underlines the higher psychological distress of overweight/obese females.

AbstractUsing regional Italian data over the 2004–2011 period, we embed, within the framework of a double‐bootstrap Data Envelopment Analysis (DEA), both knowledge and institutional spillovers to appraise how the latter affect Regional Innovation System (RIS) efficiency and further investigate how the quality of institutions interacts with RIS efficiency. Our evidence suggests that both knowledge and institutional spillovers enhance RIS efficiency. We find evidence of spillovers of control of corruption, government effectiveness, voice and accountability and regulatory quality, though these results crucially depend on the set of inputs employed. Once the two types of spillovers enter jointly, rather than separately, our specifications, the evidence indicates that both these spillovers positively affect RIS efficiency and their impact is quantitatively comparable. There is also some evidence of a positive effect of regional institutional quality on RIS efficiency, although the result is mediated by increased government effectiveness. In terms of policy implications, the evidence reported in this paper suggests that measures aimed at favouring cooperation among firms, that facilitate an easier imitation strategy and that improve governance are highly recommendable.

AbstractIn this study, we use a conventional Probit model to investigate the effects of banks' cost efficiency on innovation in Italy. In particular, we assess whether the efficiency–innovation relation depends on the type of banking institutions, as we partition them according to whether they are cooperatives or non‐cooperatives. When we examine the two types of financial intermediaries simultaneously, the higher efficiency among cooperative banks has a positive and significant effect on R&D collaborations with firms and consultants and process innovation, while higher efficiency among non‐cooperative banks has a positive and significant effect on product innovation. When we consider each individually, the effect holds for cooperatives, but the opposite holds for non‐cooperatives, as the positive and significant effect on product innovation vanishes. To deal with the likely endogeneity of bank efficiency, we also propose the application of an Instrumental Variable Probit (IV Probit) model. When we again jointly examine cooperative and non‐cooperative banks, our evidence indicates that higher efficiency among non‐cooperative banks enhances in‐house R&D and both product and process innovations, while we find a non‐significant effect for cooperative banks. However, when we individually examine the efficiency of each intermediary, we find evidence of a positive and significant effect on the process innovation for cooperative banks and of a positive relation between non‐cooperative banks' efficiency, in‐house R&D and product and process innovations.

ABSTRACTRelying upon highly territorially disaggregated data taken at labour market areas, the paper explores the relationship between bank performances and financial stability of the banking system taking into account the role of market concentration. The z‐score is used as financial stability indicator, while the performance of financial intermediaries is measured using a parametric method recently developed (Kumbhakar et al. 2014). The empirical evidence shows a positive relationship between bank performance and financial stability and supports the 'concentration–stability' view for non‐cooperative banks only when concentration is measured on the whole sample of banks. Differences in the performance–stability nexus seem to depend more on the type of banks rather than different levels of market concentration. Higher market concentration of cooperative banks affects systemic stability by reducing the z‐scores of non‐cooperative banks, supporting the hypothesis that the presence of non‐profit‐maximizing entities can pull down stability of other financial institutions.

ABSTRACTThis paper applies a data envelopment analysis (DEA) method to assess technical efficiency of both private and public universities in Italy. A directional distance function approach has been applied in order to handle both desirable (i.e. number of graduates) and undesirable (i.e. number of dropouts) outputs. The findings based on a panel from academic year 2003/2004 to 2007/2008 reveal the presence of interesting geographical (both by macro areas and regions) and ownership (private, public) effects. Several quality and quantity proxies have also been used in order to check whether the estimates depend on the output specification. Finally, the possible evidence of variation in the universities' performances by subject of study has been taken into account in order to check whether the results are still consistent comparing universities within subject rather than across subjects.

AbstractEconomic policy uncertainty significantly influences governmental decisions regarding environmental sustainability, particularly in CO2 emissions reduction efforts. This study examines the impact of economic policy uncertainty on environmental inefficiency across 136 emergent and non‐emerging countries from 1990 to 2018, using an unbalanced and heterogeneous sample. Additionally, we explore the moderating effects of institutional quality and political orientation on this relationship. Employing a directional distance function in a parametric context, our analysis reveals that economic policy uncertainty exacerbates environmental inefficiency. However, we find that institutional quality and political orientation act as important moderating factors, fostering greater environmental sustainability. Sensitivity analyses support these empirical findings, providing insights into potential implications for economic policy and guiding regulatory and policymaking efforts toward achieving enhanced environmental sustainability.

PurposeThe paper aims at addressing the following research questions: does institutional quality improve countries' environmental efficiency? And which pillars of institutional quality improve countries' environmental efficiency?Design/methodology/approachBy specifying a directional distance function in the context of stochastic frontier method where GHG emissions are considered as the bad output and the GDP is referred as the desirable one, the work computes the environmental efficiency into the appraisal of a production function for the European countries over three decades.FindingsAccording to the countries' performance, the findings confirm that high and upper middle-income countries have higher environmental efficiency compared to low middle-income countries. In this environmental context, the role of institutional quality turns out to be really important in improving the environmental efficiency for high income countries.Originality/valueThis article attempts to analyze the role of different dimensions of institutional quality in different European countries' performance – in terms of mitigating GHGs (undesirable output) – while trying to raise their economic performance through their GDP (desirable output).HighlightsThe paper aims at addressing the following research question: does institutional quality improve countries' environmental efficiency?We adopt a directional distance function in the context of stochastic frontier method, considering 40 European economies over a 30-year time interval.The findings confirm that high and upper middle-income countries have higher environmental efficiency compared to low middle-income countries.The role of institutional quality turns out to be really important in improving the environmental efficiency for high income countries, while the performance decreases for the low middle-income countries.