We present a model where the employees of a firm have to search for profitable business projects in a changing environment. Employees who have found a successful project in the past period are shown to be reluctant to search for new and better projects leading to corporate inertia. This reduces...

Subsidiaries of foreign multinational companies are essential part of the modern Russian economy. In many sectors, they enjoy dominant positions. Innovation is an important driver and determinant of this dominance. Yet, little research has been done on innovation strategies and innovation...

In this paper the evolution of labour productivity and TFP is anlysed for the Italian regions at the sector level over the period 1980-2004 using growth accounting techniques. The results sugges that the decline in productivity after 1995 has been widespread across sectors and regions, although...

China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...

Until now, the capitalist system proved to be the most efficient one from an economic, technological, and social perspective. The purest form of capitalism is entrepreneurial capitalism, where small and medium enterprises play the leading role. In a post crises economy, SMEs seem to be the key...

The present contribution focuses on two issues. The first one concerns the characteristics of industrial districts and the increasing weight of these districts in the Italian system of production. The second issue is about the competitiveness of the Italian industrial districts, if they...

Innovation is a multilevel phenomenon. Not only attributes of firms but also the framework conditions within which firms operate matter. Although this has been recognized in the literature for a long time, a quantitative test that explicitly considers this hypothesis has been lacking. Using a...

The development of international trade has enabled industrialised countries to obtain supplies of high-quality, high-tech products very cheaply from developing countries. But the ever-falling prices of these imported goods have eroded the interest of industrialised countries in producing them...