Capital inflows have an enormous importance in the financing of investment in emerging and transition economies. However short-term inflows, intermediated by the banking sector of the emerging economy, may be subject to early withdrawals. We model a situation where such withdrawals are motivated...

The aim of this paper is twofold. First, we measure the relationship between fiscal variables and companies debt choices in Italy using a dynamic representation of the modified pecking order model, where both trade-off and pecking order theories are nested. Second, our estimation results are...

From a theoretical point of view, uncertainty over the demand for a firm's product may not have clear effects on investments, because of the influence of a number of factors, such as the production technology and the amount of competition in the product market. Until now, a deeper investigation...

How did post-communist transformations affect people's perceptions of their economic and political systems? We model a pseudo-panel with 89 country-year clusters, based on the aggregation of about eighty thousand interviews conducted in 14 countries between 1991 and 2004, to identify the macro...