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This book provides a critical evaluation of the literature on
finance, investment and innovation and proposes new research
methods for evaluating the comparative performance of financial
systems in supporting innovation. The comparative advantage of this
book is that of being directly focused on one of the main unsolved
issues in monetary and financial economics: the relative
effectiveness of national financial systems in supporting
innovation. It proposes various theoretical and empirical
contributions that, taken together, allow to evaluate the relative
effectiveness of some of the most important country systems such as
Japan, and the UK and Italy.
This book provides a critical evaluation of the literature on
finance, investment and innovation and proposes new research
methods for evaluating the comparative performance of financial
systems in supporting innovation. The comparative advantage of this
book is that of being directly focused on one of the main unsolved
issues in monetary and financial economics: the relative
effectiveness of national financial systems in supporting
innovation. It proposes various theoretical and empirical
contributions that, taken together, allow to evaluate the relative
effectiveness of some of the most important country systems such as
Japan, and the UK and Italy.
Several interesting results on the economics of industrial
districts are collected in this book. The first part investigates
over internal determinants of industrial district competitiveness
looking at internal productivity, at patterns of innovation and at
those factors which create a favorable industrial atmosphere. The
second part of the book investigates over foreign competitiveness
of industrial districts focusing on the performance of export and
of other forms of internationalisation.
Theoretical and empirical research of these last decades is working
on the positive and normative side in order to deepen its
understanding of financial market dynamics and to tackle new and
old challenges with the ambitious goal of limiting fragilities and
inefficiencies. Contributions collected in this book represent a
valuable and remarkable endeavour in this direction covering
different topics. A first one is related to the aggregate
relationship between development of financial markets and economic
growth. A second topic covered is credit risk. A third important
topic is related to the measure of risk in equity and bond markets.
Finally, a fourth field covered is the one investigating behavior
and efficiency of banking intermediaries. Overall, contributions
collected in the book provide updated evidence and cover new
theoretical issues arising in the field. Providing some new
solutions but also highlighting new and emerging problems and
creating new questions for further theoretical and empirical
research
*Highlights new and emerging problems
*Provides up-to-date edvidence and solutions
*Serves as an invaluable reference for all those interested in
financial market dynamics
This volume contains contemporary analysis of three key
developments in financial economics: financial integration; the
dynamics of financial markets; and the information, computer, and
technology revolution and its impact on markets and the economic
performance, among others. With regard to financial integration,
the contributions focus on three streams in international finance:
the impact of increased financial integration on credit risk and on
the required regulatory arrangements needed to reduce the
probability of welfare reducing bank failures, the creation of new
international currencies, and the relationship between finance and
growth. With regard to the dynamics of financial markets, specific
attention is devoted to the complex interaction of different sets
of traders with heterogeneous beliefs and information sets.
Finally, with respect to the ICT revolution, attention is focused
on its impact on: foreign direct investment across countries,
competition in the banking industry, consolidation in the financial
services industry including its effects credit availability for
small and medium sized enterprises, and the capital structure
decisions of financial firms.
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