Quaderni di Dipartimento [serie ordinaria - Anno 2010]


ELENCO DEI QUADERNI DI DIPARTIMENTO - WORKING PAPERS

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ISSN: 2279-9559 (dal n. 1 al n. 157), 2279-9567 (dal n. 158 al n. 363), 2279-9575 (dal n. 364 in poi)

353  Andrea CIRILLI, Paolo VENERI
Spatial Structure and CO2 Emissions Due to Commuting: an Analysis on Italian Urban Areas [dicembre 2010]
Keywords:
  CO2 emissions, commuting, environmental costs, urban spatial structure
JEL Classification:
  Q56 Agricultural and Natural Resource Economics; Environmental and Ecological Economics - Environmental Economics - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accou
  R14 Urban, Rural, and Regional Economics - General Regional Economics - Land Use Patterns
  R41 Urban, Rural, and Regional Economics - Transportation Systems - Transportation: Demand, Supply, and Congestion; Safety and Accidents; Transportation Noise
Abstract:
  The aim of this paper is to investigate whether and to what extent the spatial configuration of an urban area affects its level of environmental externalities. Starting from previous contributions to this field of research, it examines several features of urban spatial structure - such as compactness, monocentricity, concentration and functional diversity - and attempts to gauge their environmental implications in terms of per capita CO2 emissions associated with a given pattern of commuting (i.e., mode of commuting and distance travelled). The main finding of the analysis on the 111 largest Italian urban areas is that urban spatial configuration is an important determinant of travel patterns and the associated level of per capita CO2 emissions. In particular, smaller, more compact and less monocentric areas are associated with lower levels of CO2 per commuter, with socio-demographic characteristics also playing a role.
Citations:   CitEc
 
352  Giuliano CONTI, Alessia LO TURCO, Daniela MAGGIONI
  Backward linkages and the export performance of business services. Evidence from a sample of Italian firms [dicembre 2010]
Keywords:
  Services, back-ward linkages, firms' internationalisation, spillovers
JEL Classification:
  D22 Microeconomics - Production and Organizations - Firm Behavior: Empirical Analysis
  F14 International Economics - Trade - Country and Industry Studies of Trade
  L25 Industrial Organization - Firm Objectives, Organization, and Behavior - Firm Performance: Size, Diversification, and Scope
  L80 Industrial Organization - Industry Studies: Services - General
Abstract:
  We provide evidence on backward linkages between downstream manufacturing sectors and the export performance of Italian business service firms. Combining input-output coefficients from the National Accounts with region-level information on the international involvement and market thickness of downstream manufacturing sectors, we build some measures of local spillovers and we test them as determinants of the business service firms' export status. Our results show that the export activity of downstream manufacturing sectors is positively related to the services firms' probability of exporting to the same foreign market. Also downstream market thickness bears the same positive effect, even if the latter turns to be non-significant for KIBS sectors. Finally, our evidence confirms that the scope of export spillovers is essentially local.
Citations:   CitEc
 
351  Luca RICCETTI
From Moments, Co-Moments and Mean-Variance weights to Copula Portfolio Allocation [novembre 2010]
Keywords:
  Asset Allocation, Copulas, Excess Returns, Mean-Variance, Moments and Co-moments, OLS, Out-of-sample, Portfolio Choice
JEL Classification:
  C20 Mathematical and Quantitative Methods - Single Equation Models; Single Variables - General
  C52 Mathematical and Quantitative Methods - Econometric Modeling - Model Evaluation, Validation, and Selection
  C58 Mathematical and Quantitative Methods - Econometric Modeling - Financial Econometrics
  G11 Financial Economics - General Financial Markets - Portfolio Choice; Investment Decisions
  G17 Financial Economics - General Financial Markets - Financial Forecasting and Simulation
Abstract:
  In Riccetti (2010) I find that the use of copulas can be useful in an asset allocation model for choosing the stock and the bond composition of portfolios (the macro asset allocation) or if the portfolio is composed by one bond index and some stock indices. Thus, in these cases, easy methods to reconstruct the copula allocation without estimating the copula, could be important for an asset manager/investor. In this paper I build a model that considers moments and co-moments of the returns till the fourth power (respectively the mean of the returns and the mean of the crossed products of the returns raised up to fourth power) in order to understand whether they can approximate the use of copulas to obtain optimal weights. I analyse two models: the first reconstructs the copula model's weights using only moments and co-moments, while the second models the weights using moments, co-moments and the mean-variance weights. I also use the moments and co-moments of the excess returns of the stock indices over the bond index return as independent variables. The in-sample and the out-of-sample analyses show that it is possible to have an approximation of the weights obtained by a copula model using moments and co-moments of returns. Even if these models are different for each asset, changeable in time, with explanatory variables and signs that are not predictable and with accuracy that is uncertain, both models appear useful: the first appears to be easier (because the weights of the Markowitz model are not needed), while the second is more accurate in-sample and out-of-sample. Moreover the regression with the excess returns of the stock indices over the less risky index seems to be useful: it is a bit less accurate, but it needs to calculate less combinations of moments and co-moments.
Citations:   CitEc
 
350  Alessia LO TURCO, Daniela MAGGIONI
Offshoring to High and Low Income Countries and the Labour Demand. Evidence from Italian Firms [novembre 2010]
Keywords:
  dynamic panel data model, employment, offshoring
JEL Classification:
  F14 International Economics - Trade - Country and Industry Studies of Trade
  F16 International Economics - Trade - Trade and Labor Market Interactions
  J23 Labor and Demographic Economics - Demand and Supply of Labor - Labor Demand
  L23 Industrial Organization - Firm Objectives, Organization, and Behavior - Organization of Production
Abstract:
  Making use of an original data set we investigate the effects of imports of intermediates from high and low income countries on the conditional labour demand of a panel of Italian manufacturing firms. We estimate a dynamic panel data model by means of System GMM allowing for the endogeneity of our right hand side regressors, especially our offshoring measures. Our results bear a negative offshoring effect which is attributable exclusively to imports of intermediates from low income trading partners and mainly concerns firms operating in Traditional sectors. No statistically significant effect is estimated for imports from high income countries. These findings are robust to the different measures of offshoring and to the inclusion of further controls.
Citations:   CitEc
 
349  Chiara BROCCOLINI, Marco LILLA, Stefano STAFFOLANI
A Search Model in a Segmented Labour Market: the Odd Role of Unions [ottobre 2010]
Keywords:
  Productivity, Search Model, Temporary contract, Unemployment, Unions
JEL Classification:
  J31 Labor and Demographic Economics - Wages, Compensation, and Labor Costs - Wage Level and Structure; Wage Differentials
  J51 Labor and Demographic Economics - Labor–Management Relations, Trade Unions, and Collective Bargaining - Trade Unions: Objectives, Structure, and Effects
  J64 Labor and Demographic Economics - Mobility, Unemployment, and Vacancies - Unemployment: Models, Duration, Incidence, and Job Search
Abstract:
  Assuming random matching productivity, we present a search equilibrium model where each match ends in a vacancy, in a temporary job or in a permanent job. Centralized bargaining sets the wage rate of permanent workers whereas rms decide unilaterally the wage rate of temporary workers. In this segmented labour market: a) the wage setting function can be downward sloping; b) higher union bargaining power leads to higher wage and higher unemployment; c) average worker productivity shows a maximum with respect to union bargaining power.
Citations:   CitEc
 
348  Alessia LO TURCO, Aleksandra PARTEKA
The Demand for Skills and the Labor Cost in Partner Countries: Evidence from the Enlarged EU [settembre 2010]
Keywords:
  EU integration, labor markets, trade
JEL Classification:
  F15 International Economics - Trade - Economic Integration
  F16 International Economics - Trade - Trade and Labor Market Interactions
  J31 Labor and Demographic Economics - Wages, Compensation, and Labor Costs - Wage Level and Structure; Wage Differentials
Abstract:
  We analyse the consequences of trade integration in Europe (1995-2005) detecting how the labor costs in partner countries affects the demand for domestic high- and low-skilled labor in the EU-15 and five new member states. In general, independently on the skill level, the results hint at complementarity between domestic and foreign labor. However, the demand for the high skilled in New EU members' low skill intensive sectors is boosted by the increase of the average labor cost in Old EU members, thus hinting for these sectors at the high skilled in New member countries substituting for labor in Old EU.
Citations:   CitEc
 
347  Valentina Cristiana MATERIA, Roberto ESPOSTI
Modelling Agricultural Public R&D Cofinancing Within A Principal-Agent Framework. The case of an Italian region [settembre 2010]
Keywords:
  Censored-Normal Regression, Principal-Agent Problem, Public R&D Funding, Stackelberg-type game
JEL Classification:
  O32 Economic Development, Technological Change, and Growth - Technological Change; Research and Development - Management of Technological Innovation and R&D
  Q16 Agricultural and Natural Resource Economics; Environmental and Ecological Economics - Agriculture - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services
Abstract:
  This paper analyses how a public institution chooses the optimal contract (cofinancing rate) in funding agricultural R&D research projects. A theoretical model is developed within a principal-agent framework taking into account the asymmetric information both players have to handle. The researcher (the agent) initially does not know the cofinancing granted by the funding institution (the principal). This latter, in turn, only observes some objective features of the researchers and of the selected research projects and, ex post, the research outcome, but not the agent's actual effort on the project. The principal uses the available information to offer the cofinancing rate (the contract) that, under specific contractual clauses, induces the agent's effort that maximizes principal's utility. The model eventually assumes the form of a Stackelberg-type game. An empirically testable relation is also derived from the theoretical model and is then applied to the agricultural R&D programme funded by the Italian region Emilia-Romagna over years 2001-2006.
Citations:   CitEc
 
346  Fabio FIORILLO, Agnese SACCHI
I Want to Free-ride. An Opportunistic View on Decentralization Versus Centralization Problem [luglio 2010]
Keywords:
  Decentralization, Free-riding, Local public goods, Rent-seeking behaviour, Spillovers
JEL Classification:
  D62 Microeconomics - Welfare Economics - Externalities
  D72 Microeconomics - Analysis of Collective Decision-Making - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
  H23 Public Economics - Taxation, Subsidies, and Revenue - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
  H41 Public Economics - Publicly Provided Goods - Public Goods
  H70 Public Economics - State and Local Government; Intergovernmental Relations - General
Abstract:
  The aim of the paper is to analyze a simple model of local public good provision with positive interjurisdictional spillover effects - as the case of environment protection spending - comparing decentralized and centralized system, when spending and taxation decisions are made by nonbenevolent politicians. As in the recent so-called Second Generation Theory (SGT) of fiscal federalism (Seabright, 1996; Besley and Coate, 2002; Lockwood, 2002; Oates, 2005, Weingast, 2009), we adopt a political economy approach to look at the trade-off between centralized and decentralized provision of local public goods. The main differences between our paper and theirs are that we model the public good taking into account two important aspects: the size - in terms of population - of local jurisdictions providing it, which is relevant for the scale effect in the financing mechanism of non-rival public goods; the detail of political opportunistic behaviour introducing a "rent equation" directly into the model to represent the additional gain of "non-benevolent" politicians, who levy higher taxes than the costs of the public goods. Considering these two elements, our results appear to be partially different from the SGT. In particular, the convenience of having decentralization versus centralization changes with the degree of spillovers and the size of regions. Three elements have to be considered: i) the implicit transfers ("cross subsidiation") from high scale economy regions to low scale ones; ii) the free-riding gains in receiving positive externalities; iii) the gain of internalization of externalities. When spillovers linked to public goods provision are low, only the first item is relevant. Thus, smaller regions prefer the centralized solution, since through it they can charge bigger regions for some costs of production. On the contrary, bigger local jurisdictions would like decentralization.When beneficial spillover effects increase (and many regions producing them), the other two factors start to play a crucial role, and the opposite situation takes place. The basic trade-off is between the internalization process and the free-riding tendency, whose efficiency gains are different for large and small local jurisdictions. Hence, from a positive viewpoint, decentralization should not be necessarily pursued only in the absence of externalities, but it depends on the relative size of the local jurisdictions.
Citations:   CitEc
 
345  Francesco BALDUCCI
The Web's Promotional Effect and Artists' Strategies [luglio 2010]
Keywords:
  Artists' strategies, network effect, peer to peer, promotion
JEL Classification:
  L82 Industrial Organization - Industry Studies: Services - Entertainment; Media
  O33 Economic Development, Technological Change, and Growth - Technological Change; Research and Development - Technological Change: Choices and Consequences; Diffusion Processes
  Z11 Other Special Topics - Cultural Economics; Economic Sociology; Economic Anthropology - Economics of the Arts and Literature
Abstract:
  The paper explores one of the new business models of the music market proposed by Varian (2005): the importance of the promotional effect of web-based diffusion. An indirect form of such investment consists in non-opposition by artists against the circulation of their music files online, or, likewise, their choice of permitting free downloads of their music albums. The profits lost from legal sales - online or on traditional supports - may be off-set by promotional advantages deriving from greater diffusion, with an increase in the artist's market share. The model assumes the existence of a strong network effect and an exchange of information, opinions and contents among web users. The model's results are determined by the initial conditions, i.e. by an artist's market share at an initial instant of time: or in other words, by his/her popularity. It is shown that emerging artists should make maximum investment in promotion, so that the diffusion of their work can be driven by the network effect and they can emerge from anonymity. Instead, for well-established artists, whose market shares are already large, the optimal strategy is to make the least promotional effort, given that the spontaneous diffusion of their work is already high.
Citations:   CitEc
 
344  Ugo FRATESI
The National and International Effects of Regional Policy Choices: Agglomeration Economies, Peripherality and Territorial Characteristics [luglio 2010]
Keywords:
  Agglomeration economies, Efficiency and Equity, Peripherality, Regional Policy, Territorial Characteristics
JEL Classification:
  E61 Macroeconomics and Monetary Economics - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - Policy Objectives; Policy Designs and Consistency; Policy Coordination
  H79 Public Economics - State and Local Government; Intergovernmental Relations - Other
  R13 Urban, Rural, and Regional Economics - General Regional Economics - General Equilibrium and Welfare Economic Analysis of Regional Economies
  R58 Urban, Rural, and Regional Economics - Regional Government Analysis - Regional Development Planning and Policy
Abstract:
  This paper analyzes the effects of national regional policy choices on domestic and foreign regions to detect the different interests at play. The analysis starts from a new 2-country-4-region model with agglomeration economies, an immobile production factor and a mobile one, allowing the study of international capital and profit flows; moreover, different assumptions on bilateral transport costs allow to obtain results in different spatial settings. It is shown that concurrent and often conflicting interests co-exist, especially when agglomeration economies are strong. The other key variables influencing the results are the characteristics and specificities of regions, which can be introduced in the model, and the existence of peripheral regions.
Citations:   CitEc
 
343  Paolo VENERI
The Identification of Sub-centres in Two Italian Metropolitan Areas: a Functional Approach [luglio 2010]
Keywords:
  metropolitan areas, polycentricity, sub-centres
JEL Classification:
  R10 Urban, Rural, and Regional Economics - General Regional Economics - General
  R12 Urban, Rural, and Regional Economics - General Regional Economics - Size and Spatial Distributions of Regional Economic Activity
  R14 Urban, Rural, and Regional Economics - General Regional Economics - Land Use Patterns
Abstract:
  This work introduces a method aimed at the identification of metropolitan sub-centres. Instead of using traditional and static methodologies based on morphological approaches (e.g. employment density), interaction measures have been employed, based on the Central Place theoretical tradition. In particular, tools of social network analysis and a measure of productive completeness have been utilised, so as to take into account the capacity of sub-centres to organise their surrounding territory. The degree of node-centrality has been calculated using data about commuting for working reasons and the methodology has been applied to the metropolitan areas of Rome and Milan. Results have been compared with those obtained from the application of Giuliano and Small?s (1991) thresholds in jobs density and absolute employment and confirm the soundness of the proposed approach for Italian metropolitan areas.
Citations:   CitEc
 
342  Antonio G. CALAFATI, Paolo VENERI
Re-defining the Boundaries of Major Italian Cities [giugno 2010]
Keywords:
  Cities de facto, Metropolitan areas, Territorial organisation
JEL Classification:
  R11 Urban, Rural, and Regional Economics - General Regional Economics - Regional Economic Activity: Growth, Development, and Changes
  R12 Urban, Rural, and Regional Economics - General Regional Economics - Size and Spatial Distributions of Regional Economic Activity
  R23 Urban, Rural, and Regional Economics - Household Analysis - Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
  R38 Urban, Rural, and Regional Economics - Housing Markets, Production Analysis, and Firm Location - Government Policies; Regulatory Policies
Abstract:
  The processes of spatial polarisation and territorial integration that have taken place in Italy since the 1950s have not been accompanied by corresponding institutional adaptations, generating the current huge discrepancy between the functional and political-administrative organisation of the territory. As argued in the paper, this institutional lock-in is rooted in a mistaken conceptualisation of territorial integration, which has focused on the identification of "travel-to-work areas", rather than on the formation of inter-municipal territorial systems which have the nature of cities de facto - larger and structurally different from the legal cities. The paper corroborates this thesis by focusing on the eight largest Italian cities de jure, identifying, on the basis of both functional and morphological features, the corresponding cities de facto.
Citations:   CitEc
 
341  Massimo TAMBERI
Be Careful! A Short Note on a Possible Bias in (Trade) Structural Change Analysys [maggio 2010]
Keywords:
  Economic Growth, International Trade, Structural Change
JEL Classification:
  F43 International Economics - Macroeconomic Aspects of International Trade and Finance - Economic Growth of Open Economies
  O14 Economic Development, Technological Change, and Growth - Economic Development - Industrialization; Manufacturing and Service Industries; Choice of Technology
  O40 Economic Development, Technological Change, and Growth - Economic Growth and Aggregate Productivity - General
Abstract:
  I was accustomed to think that the world, in this of "modern economic growth", is becoming less specialized: the invention of new goods is, only partially, a "Schumpeterian" process, in the sense that new goods sometimes replace old ones, but it can also happens that these new goods simply are added to the old ones. Also in modern theoretical literature emerges (at least) the idea that producers use an increasing variety of intermediate goods and that consumers are likely better with more variety of goods in their hands. The process of change in the produced/consumed goods is one of the aspects of the broader spectrum of economic structural change that accompanies economic growth, "structural change" being one of the basic stylized facts of growth according to the Nobel Lecture of Simon Kuznets. In this paper, I will suggest that sector disaggregated data, necessary to study structural change, contain a bias that "hides" this process and causes a drift. By using trade data (because of their higher sector disaggregation richness) I'll first show that there is a tendency for a steady increase in sector concentration. Next, I will argue that this is due to the impossibility to properly register product innovation and finally, through a very rough model and an empirical example of two countries, I will also suggest that this reflects differently in developing and developed countries.
Citations:   CitEc
 
340  Luca RICCETTI
Minimum Tracking Error Volatility [aprile 2010]
Keywords:
  Active Management, Benchmarking, Commissions, Portfolio Choice, Risk Management, Tracking Error
JEL Classification:
  C61 Mathematical and Quantitative Methods - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - Optimization Techniques; Programming Models; Dynamic Analysis
  G10 Financial Economics - General Financial Markets - General
  G11 Financial Economics - General Financial Markets - Portfolio Choice; Investment Decisions
  G23 Financial Economics - Financial Institutions and Services - Pension Funds; Other Private Financial Institutions
Abstract:
  Investors assign part of their funds to asset managers that are given the task of beating a benchmark. The risk management department usually imposes a maximum value of the tracking error volatility (TEV) in order to keep the risk of the portfolio near to that of the selected benchmark. However, risk management does not establish a rule on TEV which enables us to understand whether the asset manager is really active or not and, in practice, asset managers sometimes follow passively the corresponding index. Moreover, the benchmark is sometimes difficult to be beaten when the risk managers only check that portfolio managers do not exceed a fixed level of relative risk. I derive analytical methods that could be used to understand whether the strategy used by the portfolio manager is active that allows him/her to have an excess return above the benchmark large enough to cover the commission paid by investors and, concurrently, that allows him/her to restrict the portfolio's variance to be not more than the benchmark's variance in order to avoid an excess return merely due to a higher risk level (using variance as risk indicator). These equations are a necessary (but not suffiient) condition to beat the benchmark's return, without increasing the overall variance of the portfolio. This is also a generalization of the model of Jorion (2003) with the use of commissions. I apply these equations to an Italian liquidity fund and I find that the fees are too high and the TEV is low. In fact, all the funds in the liquidity category show similar problems that often render the portfolio unable to cover the fees without increasing the variance.
Citations:   CitEc
 
339  Giulia BETTIN, Riccardo LUCCHETTI
Interval Regression Models with Endogenous Explanatory Variables [aprile 2010]
Keywords:
  Instrumental variables, Interval models, Migration, Remittances
JEL Classification:
  C24 Mathematical and Quantitative Methods - Single Equation Models; Single Variables - Truncated and Censored Models; Switching Regression Models
  C25 Mathematical and Quantitative Methods - Single Equation Models; Single Variables - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
  F22 International Economics - International Factor Movements and International Business - International Migration
  F24 International Economics - International Factor Movements and International Business - Remittances
Abstract:
  We consider the estimation of linear models where the dependent variable is observed by intervals and some continuous regressors may be endogenous. Our approach is fully parametric and two estimators are proposed: a two-step estimator and a limited-information maximum-likelihood estimator. The results can be summarised as follows: the two-step estimator may offer some computational advantages over the LIML (Limited Information Maximum Likelihood) estimator, and a Monte Carlo experiment suggests that its relative efficiency is rather satisfactory. The LIML estimator, however, is probably simpler to implement and has the advantage of providing a framework in which several testing procedures are more straightforward to perform. The application of TSLS (Two-Stage Least Squares) to a proxy of the dependent variable built by taking midpoints, on the other hand, leads to inconsistent estimates. An example application is also included, which uses Australian data on migrants' remittances.
Citations:   CitEc
 
338  Andrew CLARK, Emanuela D'ANGELO
Upward Social Mobility, Well-being and Political Preferences: Evidence from the BHPS [aprile 2010]
Keywords:
  Inequality, Redistribution, Satisfaction, Social Mobility, Voting
JEL Classification:
  A14 General Economics and Teaching - General Economics - Sociology of Economics
  C25 Mathematical and Quantitative Methods - Single Equation Models; Single Variables - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
  D31 Microeconomics - Distribution - Personal Income, Wealth, and Their Distributions
  D63 Microeconomics - Welfare Economics - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
  J28 Labor and Demographic Economics - Demand and Supply of Labor - Safety; Job Satisfaction; Related Public Policy
  J62 Labor and Demographic Economics - Mobility, Unemployment, and Vacancies - Job, Occupational, and Intergenerational Mobility
Abstract:
  The paper uses 15 waves of BHPS data to provide an integrated analysis of the roles of both individual social status and upward mobility relative to own parents on job and life satisfaction, preferences for redistribution, pro-public sector attitudes and voting. Both greater individual social status and greater mobility with respect to parents are associated with higher levels of satisfaction. However, this symmetric effect disappears for political preferences. While greater social status is associated with less favourable attitudes to redistribution and the public sector, greater upward mobility is associated with more Left-wing attitudes. These attitudes translate into actual reported voting behaviour. Upwards social mobility produces satisfied Left-wingers.
Citations:   CitEc
 
337  Domenico SCALERA, Alberto ZAZZARO
L'economia del Mezzogiorno. Nuova politica regionale, crisi globale e federalismo fiscale [aprile 2010]
Abstract:
  It is widely recognized that regional policies implemented in Southern Italy in the last 15 years have had poor effects in terms of Gdp, employment and firms' performance. This chapter seeks to put forth possible explanations of this unfortunate outcome and to predict the likely impact of the current global crisis and the impending fiscal federalism reform on Mezzogiorno economy. The relative failure of place-based «Negotiated planning» policies is mainly ascribed to i) lack of capabilities in local administrations, ii) excessive bureaucratisation and incentive to rent seeking behaviours and iii) scant accountability and responsibility, and consequent risks of collusion. The chance that fiscal federalism may help to develop greater incentives to efficient public spending is disputed, while the effects of the global crisis are argued to be bound to strike Mezzogiorno regions even more than the rest of Italy.
Citations:   CitEc