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Research

Our faculty members have a strong commitment to academic research and publication. Their research interests, publications, and expertise are wide-ranging. Our current, active research interests lie within five main areas:
  • Corporate governance: finance, law, and regulation (in developed and developing countries)
  • Corporate finance: determinants of firms' capital structure
  • Finance and economic growth
  • Financial regulation, central banking and bank supervision
  • Management in China; Management in Japan; and Management in the Middle East and North Africa

The output of the department's research is accessible from the list of Working Papers below. From here you can also access a list of PhD theses and recent publications by academic staff can be found on their respective staff pages.

Working Papers

Alessandra Dal Colle

084_DP102 Finance - growth nexus: does causality withstand financial liberalisation? Evidence from cointegrated VAR
Laixiang Sun; Vanesa Pesqué-Cela; Ran Tao

083_DP101 Electoral Accountability and the Provision of Public Goods in Rural China
Eunsuk Hong and Laixiang Sun

082_DP100 Foreign Direct Investment and Full Factor Productivity in China
Michele Alessandrini

081_DP99 Jobless Growth in Indian Manufacturing: A Kaldorian Approach
Tullio Buccellato and Michele Alessandrini

080_DP98 Natural Resources: a Blessing or a Curse? The Role of Inequality
Fabrizio Adriani and Silvia Sonderegger

079_DP97 Trust, Introspection, and Market Participation: an Evolutionary Approach
Fabrizio Adriani and Silvia Sonderegger

078_DP96 Why do parents socialize their children to behave pro-socially? An information-based theory
Hong Bo, Robert Lensink, Victor Murinde

077_DP95 Credit Ratings and Corporate Investment: UK Evidence
Tullio Buccellato, Francesco Santangelo

076_DP94 Foreign Direct Investments Distribution in the Russian Federation: Do Spatial Effects Matter?
Fabrizio Adriani, Luca G. Deidda and Silvia Sonderegger

075_DP93 Over-signaling vs Underpricing: The Role of Financial Intermediaries in Initial Public Offerings
Andrea Finicelli, Massimo Sbracia and Andrea Zaghini

074_DP92 A Disaggregated Analysis of the Export Performance of Some Industrial and Emerging Countries
Michele Alessandrini and Michael Enowbi Batuo

073_DP91 The Trade Specialization of SANE: Evidence from Manufacturing Industries
Michele Alessandrini, Tullio Buccellato, Pasquale Scaramozzino

072_DP90 Whither the Indian Federation? Regional Disparities and Economic Reforms
Tobin, D and Sun, L.

071_DP89 International listing as a means to mobilize the benefits of financial globalization: Micro-level evidence from China
Brück, B and Sun, L.

070_DP88 Dream of the Red Financial Supermarket: The Gradual Emergence of Integrated Financial Services Provision in China in the 21st Century
Pesqué-Cela, V., Tao R., Liu, Y. and Sun, L.

069_DP87 Challenging, Complementing or Assuming 'the Mandate of Heaven'?
Hong, E., Sun, L., and Li, T

068_DP86 Location of Foreign Direct Investment in China: A Spatial Dynamic Panel Data Analysis by Country of Origin
Guarcello, L., Rosati, F.C., and Scaramozzino, P.

067_DP85 Uncertainty, Education, and the School-to-Work Transition: Theory and Evidence from Brazil
Chris Parish

066_DP84 International Risk Sharing & Hurricanes in the Caribbean
Anna Rita Germani; Pasquale Scaramozzino

065_DP83 Modeling Environmental Discretion through Randomized Strategies
Tullio Buccellato; Tomasz Mickiewicz

064_DP82 Oil and Gas: a Blessing for Few - Hydrocarbons and Within-Region Inequality in Russia
Laixiang Sun; Sebastian Brück

063_DP81 Accounting for the Micro Drivers of East Asian Governance Outcomes: Evidence from Banking Scope Regulatory Policy-Making in Mainland China, Korea and Taiwan
J. Lee; P. Scaramozzino

062_DP80 Excess Reserves and Macroeconomic Instability
Damian Tobin; Laixiang Sun

061_DP79 International listing as a means to improve the Benefit-Risk Calculus of Financial Globalisation: Micro-Level Evidence from China
Stefano Gerosa

060_DP78 Knowledge Spillovers and Productivity Differences
Stefano Gerosa

059_DP77 Capital-Skill Complementarity and Cross-Country Skill Premia
Stefano Gerosa

058_DP76 Knowledge Spillovers and the World Income Distribution
Giancarlo Marini; Alessandro Piergallini

057_DP75 Indicators and Tests of Fiscal Sustainability: An Integrated Approach
Barbara Annicchiarico; Alessandro Piergallini

056_DP74 Country-Specific Risk Premium, Taylor Rules, and Exchange Rates
Barbara Annicchiarico; Giancarlo Marini; Giovanni Piersanti

055_DP73 Budget Deficits and Exchange-Rate Crises
Bassam Fattouh

054_DP71 The Drivers of Oil Prices: The Usefulness and Limitations of Non-Structural Model, the Deman-Supply Framework and Informal Approaches
Tullio Buccellato

053_DP70 Convergence across Russian Regions: A Spatial Econometrics Approach
Damian Tobin; Laixiang Sun

052_DP69 Inducement Mechanisms for Entrepreneurship in the State Sector: China's Telecommunication Industry as an Illustrative Case
Andrea Cipollini; Bassam Fattouh; Kostas Mouratidis

051_DP68 Fiscal Readjustments in the US: A Non-linear Time Series Analysis
Joao Miguel Sousa & Andrea Zaghini

050_DP67 Global Monetary Policy Shocks in the G5: a SVAR Approach
Fabrizio Adriani, Luca G. Deidda

049_DP66 The Monopolist’s Blues
Norman Flynn

048_DP65 Social policy, fiscal problems & economic performance in France, United Kingdom & Germany
Fabrizio Adriani, Giancarlo Marini & Pasquale Scaramozzino

047_DP64 The Inflationary Consequences of a Currency Changeover on the Catering Sector: Evidence from the Michelin Red Guide
Laurence Harris, Tho Dinh Nguyen & Pasquale Scaramozzino

046_DP63 Uncertainty and Investment in an East Asian Economy: A Firm Level Study of Thailand
Fabrizio Adriani & Luca G. Deidda

045_DP62 Competition and the signalling role of prices
Sebastian Brück & Laixiang Sun

044_DP61 Achieving Effective Governance under Divided Government and Private Interest Group Pressure: Taiwan’s 2001 Financial Holding Company Law
Laixiang Sun, Tao Li & Liang Zou

043_DP60 State Ownership, Corporate Performance, and Parameter Heterogeneity: A Quantile Analysis on China's Listed Companies
Luca Deidda, Bassam Fattouh

042_DP59 Banks, Financial Markets and Growth
Jeo S. Lee

041_DP58 Filters and GARCH Methods for Nonstationary Sequences and the Effect of New Exchange Rate Regime
Sherry A. Madera & Laixiang Sun

040_DP57 International Listing Induced Improvements in Corporate Governance Practices: The Case of China Mobile (Hong Kong)
Pasquale Scaramozzino, Jonathan Temple, Nir Vulkan

039_DP56 Implementation Cycles in the New Economy
Laixiang Sun & Tao Li

038_DP55 State Ownership and Corporate Performance: A Quantile Analysis on China’s Listed Companies
Giorgia Marini

037_DP54 Optimal Growth and Dynamics with Non-Separable Preferences
Damian Tobin & Laixiang Sun

036_DP53 Capitalist Entrepreneurs or Bureaucrats left to their own Devises? The Role of Bureaucratic Entrepreneurs and the Rapid Growth of China’s Telecom Sector
Luca G. Deidda

035_DP52 Risk Aversion, Financial Development and Economic Growth
Alessandra Dal Colle Stievano

034_DP51 Finance-Growth Nexus in open economies with outliers
Giancarlo Marini, Alessandro Piergallini, Pasquale Scaramozzino

033_DP50 Inflation Bias after the Euro: Evidence from the UK and Italy
Simone Valente

032_DP49 Genuine Dissaving and Optimal Growth
Apostolos Gkoutzinis

031_DP48 Trade Policies and the Legal Perspective of Electronic Banking Activities in the Single European Market
Dr Helen Macnaughtan

030_DP47 From ‘post-war’ to ‘post-bubble’: contemporary issues for Japanese working women
Kartik Natarajan

029_DP46 Can Group Lending Overcome Adverse Selection Problems?
Anna Rita Germani

028_DP45 Environmental Law and Economics in U.S. and E.U.: A Common Ground?
Bassam Fattouh, Laurence Harris and Pasquale Scaramozzino

027_DP43 Non-Linearity in the Determinants of Capital Structure: Evidence from UK Firms
Barbara Annicchiarico & Giancarlo Marini

026_DP42 Interest Rate Peg, Wealth Effects & Price Level Determinacy
Constantino J. Gode

025_DP41 The Capital Account and Aid Dependence
Eunsuk Hong and Laixiang Sun

024_DP40 Go Overseas via Direct Investment: Internationalisation Strategy of Chinese Corporations in a Comparative Prism
Huan LIU & Laixiang Sun

023_DP39 Beyond Phase-out of Quota in Textile and Clothing Trading: WTO-Plus Rules and the Case of US Safeguards against Chinese Exports in 2003
Simone Valente

022_DP38 Endogenous Growth, Tax Policy and Human Capital Formation
Laixiang Sun, Damian Tobin

021_DP37 Corporate Governance Reform and International Listing: Case of the Bank of China (Hong Kong)
Fabrizio Adriani, Giancarlo Marini, Pasquale Scaramozzino

020_DP36 The Inflationary Consequences of a Currency Changeover: Evidence from the Michelin Red Guide
Yasmeen Khwaja, Pasquale Scaramozzino

019_DP35 Unknown Talents and the Brain Drain: The Informational Role of Migration
Barbara Annicchiarico and Giancarlo Marini

018_DP34 Government Deficits, Consumption and the Price Level
Barbara Annicchiarico and Giancarlo Marini

017_DP33 Fiscal Policy and Price Stability
Leonardo Becchetti, Fabrizio Adriani

016_DP32 Does the digital divide matter? The role of Information and Communication Technology in cross-country level and growth estimates
Simone Valente

015_DP30 Sustainable Development, Renewable Resources and Technological Progress
Alessandra Dal Colle Stievano

014_DP29 Intermediation and Growth in Financially Open Economies
Federico Dini

013_DP27 Asymmetric Iinformation, Signalling and Competition in the Credit Market
Fabio Cerina, Luca Deidda

012_DP26 Do We Need More Time for Leisure?
Pietro Senesi

011_DP25 Endogenous Fluctuations in a one Capital Good Model
Giancarlo Marini, Pietro Senesi

010_DP24 Technological Externalities and First-best Policy-rules
Laixiang Sun

009_DP23 Fading out of Local Government Ownership: Recent Ownership Reform in China’s Township and Village Enterprises
Luca Deidda, Bassam Fattouh

008_DP22 Concentration in the Banking Industry and Economic Growth
Atsushi Tokuda

007_DP21 The Origin of the Corporation in Meiji Japan
Giancarlo Marini, Giovanni Piersanti

006_DP20 Fiscal Deficits and Currency Crises
Bassam Fattouh, Pasquale Scaramozzino and Laurence Harris

005_DP19 Capital Structure in South Korea: A Quantile Regression Approach
Anja Nagel

004_DP18 The Role of Financial Sector Dynamics in Thailand ’s 1997 Currency Crisis
Luca Deidda

003_DP17 On the Growth Effects of Endogenous Financial Development
Luca Deidda and Bassam Fattouh

002_DP16 Non linearity between finance and growth
Luca Deidda

001_DP15 Financial Institutions' Expertise and Growth Effects of Financial Liberalisation