2023

Debt Financing of SMEs: The Certification Role of R&D Subsidies, with Andrea Bellucci and Luca Pennacchio, International Review of Financial Analysis, accepted for publication.

Job Protection and Mortgage Conditions: Evidence from Italian Administrative Data, with Paolo E. Mistrulli, Tommaso Oliviero and Zeno Rotondi, Oxford Bulletin of Economics and Statistics, published online.

Lifting You Up or Dragging You Down? The Role of Financial Inclusion In Poverty Transitions among Italian Households, with Giulia Bettin and Claudia Pigini, Review of Income and Wealth, 69(3), 606-639.

Management Innovations in Family Firms after CEO Successions: Evidence from Japanese SMEs, with Hirofumi Uchida and Kazuo Yamada, Japan & The World Economy, 66, article No. 101189.

Voters' distance, information bias and politicians' salary, with David Bartolini, Agnese Sacchi and Domenico Scalera, Italian Economic Journal, 9(2), 637-664. 

The Reallocation Effects of COVID-19: Evidence from Venture Capital Investments around the World, with Andrea Bellucci, Alexander Borisov and Gianluca Gucciardi, Journal of Banking and Finance, 147, article No. 106443.

Information Asymmetry, External Certification and the Cost of Debt, with Andrea Bellucci, Alexander Borisov and Germana Giombini, Journal of Corporate Finance, 78, article No. 102336.

2022

Relationship Lending and Employment Decisions in Firms' Bad Times, with Pierluigi Murro and Tommaso Oliviero, Journal of Financial and Quantitative Analysis, published online.

Income Losses, Cash Transfers and Trust in Financial and Political Institutions: Survey Evidence from the Covid-19 Crisis, with Giovanni Immordino and Tommaso Oliviero,  The B.E. Journal of Economic Analysis & Policy, 22(3), 647-654.

Fear of COVID-19 Contagion and Consumption: Evidence from a Survey of Italian Households, with Giovanni Immordino, Tommaso Oliviero and Tullio Jappelli.  Health Economics, 31(3), 496-507. 

2021

Estimating the Relationship Between Collateral and Interest Rate: A Comparison of Methods, with Andrea Bellucci, Alex Borisov and Germana Giombini. Finance Research Letters, 43, Article No. 101962, 2021. 

Hardening Soft Information: Does Organizational Distance Matter?, with Stefano Filomeni and Gregory F. Udell. European Journal of Finance, 27(9), 897-927.

2020

Communication frictions in banking organizations: Evidence from credit score lending, with Stefano Filomeni and Gregory F. Udell. Economics Letters, 195, article No. 109412.

Sanctions and public opinion: The case of the Russia-Ukraine Gas Disputes, with William Seitz. Review of International Organizations, 15(4), 817-843.

2019

House prices and immovable property tax: evidence from OECD countries, with Tommaso Oliviero, Agnese Sacchi and Annalisa Scognamiglio. Metroeconomica, 70(4), 776-792.

The rise and fall of family firms in the process of development, with Maria Rosaria Carillo and Vincenzo Lombardo. Journal of Economic Growth, 24(1): 43-78.

Financial dependence and growth: The role of input-output linkages, with Daniela Maggioni and Alessia Lo Turco. Journal of Economic Behavior and Organization, 162: 308-328.

Collateralization and distance, with Andrea Bellucci, Alexander Borisov and Germana Giombini. Journal of Banking and Finance, 100: 205-217.

Public R&D subsidies: Collaborative versus individual place-based programs for SMEs, with Andrea Bellucci and Luca Pennacchio. Small Business Economics, 52(1): 213-240.

Relational capital in lending relationships. Evidence from European family firms, with Marco Cucculelli and Valentina Peruzzi, Small Business Economics, 52(1): 277-301.

Money, banking and territories: A MoFiR view, with Pietro Alessandrini and Luca Papi, in The First Outstanding 50 Years of "Università Politecnica delle Marche. Research Achievements in Social Sciences and Humanities, edited by S. Longhi, S. Monteriù, A Freddi, G. Bettin, S. Cardinali, M.S. Chucchi and M. Gallegati, Heidelberg: Springer, pp. 59-70.

2018

The impact of natural disasters on remittances to low- and middle-income countries, with Giulia Bettin, Journal of Development Studies, 54(3): 481-500.

Risk and competitiveness in the Italian banking sector, with Francesco Marchionne, Economics Bulletin, 38(1): 271-280.

2017

Bank organization and loan contracting in small business financing, with Andrea Bellucci and Alexander Borisov. In: Entrepreneurial Finance: Managerial and Policy Implications, edited by N. Dai. New Yersey, World Scientific Publishing: 171-200.

The geographical network of bank organizations: issues and evidence for Italy, with Luca Papi and Emma Sarno. In: Handbook on the Geographies of Money and Finance, edited by R. Martin and J. Pollard. Cheltenam, Edward Elgar: 156-196.

2016

State dependence in access to credit, with Claudia Pigini and Andrea F. Presbitero. Journal of Financial Stability, 27: 17-34.

Banks, regions and development after the crisis and under the new regulatory system, with Pietro Alessandrini, Michele Fratianni and Luca Papi. Credit and Capital Markets - Kredit und Kapital. 49(4): 535-561.

The asymmetric burden of regulation: Will local bank survive?, with Pietro Alessandrini, Michele Fratianni and Luca Papi. In: The Italian Banks: Which Will Be the "New" Normal?, edited by G. Bracchi, U. Filotto and D. Masciandaro. Rome, Edibank: 179-196.

2015

IMF lending and banking crises, with Andrea F. Presbitero and Luca Papi. IMF Economic Review,  63(3): 644-691. 

2014

Property tax and fiscal discipline in OECD countries, with Andrea F. Presbitero and Agnese Sacchi. Economics Letters, 124(3): 428-433. 

The home bias and the credit crunch: A regional perspective, with Andrea F. Presbitero and Gregory F. Udell.  Journal of Money Credit and Banking, 46(s1): 53-85.

2013

Do banks price discriminate spatially? Evidence from small business lending in local credit markets, with Andrea Bellucci and Alexander Borisov. Journal of Banking and Finance, 37(11): 4183-4197. 

Long-lasting bank relationships and growth of firms, with Alessandro Gambini. Small Business Economics, 40(4): 977-1007.

Aging and succession in Italian farms, with Felicetta Carillo, Maria Rosaria Carillo and Tiziana Venittelli International Agricultural Policy, 1/2013: 39-55.

2012

Remittances and financial development: Substitutes or complements in economic growth?, with Giulia Bettin. Bulletin of Economic Research, 64(4): 509-536.

Endogeneity and sample selection in a model for remittances, with Giulia Bettin and Riccardo Lucchetti. Journal of Development Economics, 99(2): 370-384.

IMF lending in times of crisis: Political influence and crisis prevention, with Andrea F. Presbitero. World Development, 40(10): 1944-1969.

Financial development and remittances: micro-econometric evidence, with Giulia Bettin and Riccardo Lucchetti. Economics Letters, 115(2): 184-186.

Mutual loan-guarantee societies in monopolistic credit markets with adverse selection, with Giovanni Busetta. Journal of Financial Stability, 8(1): 15-24.

2011

The impact of antitrust fines on the formation of collusive cartels, with David Bartolini. The B.E. Journal of Economic Analysis & Policy (Topics), 11(1): Article 58.

Competition and relationship lending: Friends or foes?, with Andrea F. Presbitero. Journal of Financial Intermediation, 20(3): 387-413.

Do Male and Female Loan Officers Differ in Small Business Lending? A Review of the Literature, with Andrea Bellucci and Alexander Borisov. In: The Economics of Small Business, edited by G. Calcagnini and I. Favaretto. New York, Springer: 195-219.

Do inter-firm networks make access to finance easier? Issues and empirical evidence, with Domenico Scalera. In: Contractual Networks, Inter-Firm Cooperation and Economic Growth, edited by F. Cafaggi. Cheltenam, Edward Elgar: 39-65.

Poor countries, Washington consensus and crisis, with Andrea F. Presbitero. In: The Global Crisis, edited by E. Brancaccio and G. Fontana. London, Routledge: 217-245.

2010

Bank size or distance: What hampers innovation adoption by SMEs?, with Pietro Alessandrini and Andrea F. Presbitero. Journal of Economic Geography, 10(6): 845-881.

Does gender matter in bank-firm relationships? Evidence from small business lending, with Andrea Bellucci and Alexander Borisov. Journal of Banking and Finance, 34(12): 2968-2984.

2009

Global banking and local markets: A national perspective, with Pietro Alessandrini and Andrea F. Presbitero. Cambridge Journal of Regions Economy and Society, 2(2): 173-192.

Testing similarities of short-run inflation dynamics among EU countries inflation rates after the Euro, with Giulio Palomba and Emma Sarno. Empirical Economics, 37(2): 231-270.

Banks, distances and firms' financing constraints, with Pietro Alessandrini and Andrea F. Presbitero, Review of Finance, 13(2): 261-307.

The anticompetitive effects of antitrust policies, with David Bartolini. In: The economics of imperfect markets, edited by G. Calcagnini and E. Saltari. New York, Springer: 211-230.

Banking localism, distances and industrial districts, with Pietro Alessandrini. In: Handbook of industrial districts, edited by G. Becattini, A. Bellandi e L. Depropris. Chelthenam, Edward Elgar: 471-482.

The changing geography of banking and finance: The main issues, with Pietro Alessandrini and Michele Fratianni. In: The changing geography of banking and finance, edited by P. Alessandrini, M. Fratianni and A. Zazzaro. New York, Springer Verlag: 1-11.

Geographical distribution of banks and innovation diffusion, with Pietro Alessandrini and Andrea F. Presbitero. In: The Changing Geography of Banking and Finance, edited by P. Alessandrini, M. Fratianni and A. Zazzaro. New York, Springer Verlag: 75-108.

2008

Asset restructuring strategies in bank acquisitions: Does distance between dealing partners matter?, with Pietro Alessandrini and Giorgio Calcagnini. Journal of Banking and Finance, 32(5): 699-713.

Observable managerial incentives and spatial competition, with Domenico Scalera. Metroeconomica, 59(1): 27-41.

2007

Equilibrium, order and monetary profits: Business failure as a vital macroeconomic need, with Marcello Messori. Rivista Italiana degli Economisti - The Journal of The Italian Economic Association, 12(3): 381-406.

The unpleasant effects of price deregulation in the European third-party motor insurance market: A theoretical framework, with Domenico Scalera, The B.E. Journal of Economic Analysis & Policy (Contributions), 7(1): Article 50.

2005

Cost reducing investments and spatial competition, with Domenico Scalera. Economics Bulletin, 12(20): 1-8.

Should courts enforce credit contracts strictly? Economic Journal, 115(1): 168-184.

The geography of banking power: the role of functional distances, with Pietro Alessandrini and Manuela Croci. BNL Quarterly Review, 58(235): 129-167. Reprinted in: The Banks and the Italian Economy, edited by D. Silipo. Berlin, Springer Physica-Verlag: 93-123.

Single period analysis: Financial markets, firms' failures and closure of the monetary circuit, with Marcello Messori. In: The Monetary Theory of Production, edited by G. Fontana and R. Realfonzo. London, Palgrave MacMillan: 111-123.

2003

Banks, regions and development, with Pietro Alessandrini and Luca Papi. BNL Quarterly Review, 56(224): 23-55.

New regional policies of the EU and the Italian Experience, with Domenico Scalera, Zagreb International Review of Economics and Business, 6(1-2): 17-28.

Regional policies and EU peripheral areas: The case of Southern Italy, with Domenico Scalera, Indian Development Review,1(2): 231-248.

How heterodox is the heterodoxy of monetary circuit? The nature of money and the microeconomics of the circuit. In: Modern Theories of Money: The Nature of Money in Capitalist Economy, edited by L.P. Rochon and S. Rossi. Cheltenham, Edward Elgar: 219-245.

The enigma of medieval craft guilds: a model of social inertia and technological change, with Maria Rosaria Carillo. In: Old and New Growth Theories: An Assessment, edited by N. Salvadori, Cheltenham, Edward Elgar: 290-313.

2002

The allocation of entrepreneurial talent under imperfect lending decisions. Rivista Italiana degli Economisti - The Journal of The Italian Economic Association, 7(3): 303-330.

An index of dissimilarity among time series: An application to the inflation rates of EU countries, with Emma Sarno. In: Proceedings of the Conference CompStat 2002 Berlin, edited by S. Klinke, P. Ahrend and L. Richter. Berlin.

Professionalism and growth, with Maria Rosaria Carillo. In: Distribution, Employment and Growth, edited by R. Balducci and S. Staffolani. Naples, ESI: 209-221.

2001

How does the EU agenda influence economies outside the EU? The case of Tunisia, with Luca Papi. Economia Internazionale, 54(4): 565-588.

Group reputation and persistent (or permanent) discrimination in credit markets, with Domenico Scalera. Journal of Multinational Financial Management, 11(4-5): 483-496.

Banks' inefficiency and economic growth: A micro-macro approach, with Riccardo Lucchetti and Luca Papi. Scottish Journal of Political Economy, 48(4): 400-424.

The discouraged entrepreneur: A model of self-employment with financial constraints. International Journal of Applied Economics and Econometrics, 9(3): 375-397.

2000

Innovation, human capital destruction and firms' investment in training, with Maria Rosaria Carillo. The Manchester School, 68(3): 331-348.

1999

A "possibilist" approach to local financial systems and regional development: The Italian experience, with Pietro Alessandrini. In: Money and the Space Economy, edited by R. Martin. New York, Wiley and Sons: 71-92.

1997

Regional banking system, credit allocation and regional economic development. Economie Appliquée, 51(1): 51-74.