How and to what effect do firms coordinate their actions in order to deal with the negative external effects of productive activity? Under which conditions do firm associations engage in environmental self-regulation and what kind of governance devices do they develop in order to tackle the...

Among the factors providing incentives to monitor the behaviour of input suppliers are the regulatory requirements to which downstream firms are subject. We develop a formal economic model to examine the relationship between the strictness of the regulatory environment and downstream firms’...

The financial sector in Burundi has had a very limited effect on the country's development. High political and economic risks have prevented banks from engaging in long-term lending, constraining long-term investment. Moreover, the industrial organisation of the financial sector is not conducive...

This paper analyses the channels through which the economic and financial crisis of 2008-2009 is transmitted to fragile countries in Sub-Saharan Africa. Trade stands out as the main direct channel, even though intra-Africa remittances play a relevant role, given that most migrants in Sub-Saharan...

We appraise the new EU supervisory architecture presented by the Commission in a package of five 'draft legislative acts'. Two would establish a European Systemic Risk Board (ESRB) to undertake macro-prudential issues. Three would establish the system of European Supervisory Authorities (ESAs):...

In the early stage of the 2008-2009 financial crisis, the conventional wisdom was that financial under-development of sub Saharan African economies may have been a bless-ing in disguise because it insulated them from the direct effects of the crisis. This paper argues that this may also make...

We match data on the daily newspaper coverage of a sample of Italian listed companies with Nielsen data on the monthly amount of advertising that a given company has purchased on a given newspaper. Controlling for newspaper and company fixed effects, we show that newspaper coverage of a given...

Sub-Saharan Africa's export performance over recent decades has typically been por-trayed as poor compared to other regions in developing countries. This paper takes a new look at the record, using data on the volume rather than the value of African ex-ports. When analysed in volume terms a...