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1
Spahija, Fidane. "The Investment and Net Interest Margin: Case Study Commercial Banks in Kosovo." European Journal of Multidisciplinary Studies 1, no. 2 (April 30, 2016): 117. http://dx.doi.org/10.26417/ejms.v1i2.p117-126.
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In Kosovo, but in all developing countries, the foreign investment is the locomotive of the country that considered as the most important economic sectors. In general it can be concluded that most of the investment originates from developed countries and that these investments return to these places. Origin of investments in Kosovo mainly comes from countries such as Austria, Germany, Slovenia, Great Britain, Switzerland, Turkey, the Netherlands, Albania, Serbia, USA, France, Macedonia, Croatia, Cyprus, Norway, Italy, Greece etc. The banking sector in Kosovo has been very attractive to the foreign investors. A total of nine commercial banks, seven are foreign owned. Foreign investments are primarily generated as investments in shares of foreign shareholders from different countries of the world. Investments in securities have increased by the banking sector in 2014. With the change of the interest rate it has also changed net interest margin of the banking sector. Interest on loans and deposits has continued to decline. Especially interest rates on deposits in 2014 have fallen to 1. 1%. This linked to the investment bank in securities of our government as the initiator in this area but cannot be denied to the investment of foreign governments. With the decrease of credit interest rate will be the development of sustainable economic growth and boost investment.
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Sabatino, Gianmatteo. "The ‘Golden Power’ on Foreign Investments in EU Law in the Light of Covid Crisis." European Company Law 18, Issue 6 (November 1, 2021): 189–95. http://dx.doi.org/10.54648/eucl2021025.
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The paper focuses on the evolution of the legal regime concerning Foreign Direct Investments (FDIs) both in the EU law and in national law, with special regard for Italy, where special powers on FDIs were recently activated to block Chinese investments. The paper, in the first place, sketches a brief overview on the evolution of such special powers in the last two decades within the EU; in the second place, it assesses the current legal regime at EU level in light of the changes brought by the Covid crisis. At the same time, the paper develops a comparative analysis between the European regime on FDIs and the Chinese one, in order to outline the main legal issues connected to the notion of public control over enterprises investing abroad. Foreign Direct Investments, Investment Regulation, Foreign Subsidies, Chinese Investments, Reg. 452/2019, Covid-related Economic Crisis, State Capitalism, EU-China Economic Relations, Industrial Policy, Golden Shares
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Sukhodolov, Yakov. "Current State of Russo-Chinese Investment Cooperation." Russian and Chinese Studies 4, no. 1 (March 31, 2020): 10–17. http://dx.doi.org/10.17150/2587-7445.2020.4(1).10-17.
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China is traditionally a leading foreign trade partner of Russia. And its share in the total volume of foreign trade has a positive dynamics. At the same time, the dynamics of the Russo-Chinese investment cooperation sufficiently lags behind the dynamics of development of the Russo-Chinese foreign trade relations. At present, China considerably lags behind France, Germany, Great Britain and Italy in regard to direct investments in Russia’ economy. The major part of direct investments from China falls upon the mining and petrochemical industries, the wood and paper complex, the agriculture, and the real estate sphere. At the same time, the Chinese investors also implement several investment projects in the machine-building sphere. The Russo-Chinese cooperation has good prospects, especially in the sphere of implementing joint transport-logistic and infrastructural projects, as well as the projects in processing industry.
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Stanca, Lorenzo. "Investimenti diretti cinesi in Italia: da ruscello a fiume?" ECONOMIA E POLITICA INDUSTRIALE, no. 1 (April 2009): 135–44. http://dx.doi.org/10.3280/poli2009-001009.
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- Chinese outbound direct investments have experienced a strong increase in the last five years, spurred by the "Go Abroad" policy launched by the Chinese Government in 2002. Europe still ranks at the bottom of the list among the destinations of Chinese direct investments, but it is the fastest growing one. Within Europe, Italy is a late comer in attracting Chinese investments, but has been catching up quickly in the last few years. Investments have been made mostly in the logistics and in the manufacturing sector. In 2008 the acquisition of Cifa, a leading producer of cement-working machines, by Zoomlion signalled an important step in the history of Chinese investments in Italy. It is the largest Chinese acquisition in Europe so far and for the first time the Chinese investor is looking at integrating foreign management into its own managing structure. On average the size of Chinese companies investing in Italy is much larger than that of Italian companies looking at China for expansion. Furthermore, Chinese firms are focusing increasingly on manufacturing companies and are shunning those that do not appear in good shape. Acquiring a market share in Europe is the primary aim of Chinese companies investing in Italy, while the acquisition of technological skills plays a secondary role. Keywords: foreign direct investments, China, Italian industry, acquisitions Parole chiave: investimenti diretti all'estero, Cina, industria italiana, acquisizioni Jel Classification: F2
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Lampo, Giuliana. "Italy’s Exercise of Foreign Investment Screening Power against Chinese Takeover." Italian Review of International and Comparative Law 1, no. 2 (March 15, 2022): 433–42. http://dx.doi.org/10.1163/27725650-01020012.
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Abstract In March 2021, Italy vetoed the acquisition of an Italian company operating in the field of semiconductors by a Chinese group. It did so by using its so-called golden power, meaning the power to interfere with the management of companies to protect strategic economic sectors, introduced in 2012 and substantially revised in 2019 and 2020. The present comment offers an evaluation of the compatibility of Italy’s inward investment screening powers with international law norms on the promotion and protection of foreign investments by trying to outline the limits posed by the latter on domestic foreign investment screening mechanisms.
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Spigarelli, Francesca. "Le multinazionali dei paesi emergenti: gli investimenti cinesi in Italia." ECONOMIA E POLITICA INDUSTRIALE, no. 2 (June 2009): 131–59. http://dx.doi.org/10.3280/poli2009-002007.
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This paper focuses on a recent phenomenon: the Chinese Go global policy, which encourages domestic firms to enter the global competition through active internationalization processes. At present, Chinese investments are still small compared to the world value of outward foreign direct investments, but it is interesting to focus on their trends and skyrocketing growth. The attention is drawn to the Italian case. Italy is still not playing a major role in Chinese companies' internationalization strategies. Flows and stocks of investments are low and only a small number of companies is investing in Italy. But things are changing quickly. Italy is becoming increasingly interesting for Chinese companies aiming to acquire brands, knowledge and specific competencies, as well as strategic locations to penetrate European markets. The small dimension of the target companies (for acquisitions) encourage Chinese investors to come to Italy. Data on Chinese investments flows, on individual entrepreneurs, as well as on Chinese companies operating in Italy are discussed and analyzed to build a framework to test some preliminary hypotheses and to verify the interest for further research projects. . Keywords: Go global policy; Chinese OFDIs; Chinese MNEs in Italy Parole chiave: Go global; IDE cinesi in Italia; acquisizioni ed investimenti cinesi in Italia. Jel Classification: O5 - F23
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Korotkikh, Alla. "Foreign direct investments in U.S. agricultural land." Russia and America in the 21st Century, no. 2 (2022): 0. http://dx.doi.org/10.18254/s207054760019822-1.
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U.S. agricultural land remains attractive to foreign investors. As of December 31, 2020, foreign direct investment in this property amounted to $4.5 million, which is three times higher than in 2014. Foreign individuals and companies currently held an interest in nearly 15.2 million hectares of US agricultural land. This represents 2.9 percent of all privately owned agricultural land in the United States. Almost half of the reported foreign interest holdings of U.S. land are arable land and pastures, with timber and forestland accounting for 46 percent of the total acreage, which are mainly used by timber and "green" energy companies. Canadian investors own the largest amount of reported foreign-held agricultural land, with 32 percent. Foreign persons from an additional four countries, the Netherlands, Italy, the United Kingdom, and Germany collectively held 31 percent of the foreign-held acreages in the United States. The state of Texas has the largest amount of foreign-held U.S. agricultural land. Maine has the second, Alabama - the third largest amount of foreign-held agricultural land. Three states collectively held more than 25% of the reported foreign-held agricultural land in the United States, the vast majority of which is forestland. Current law imposes no restrictions on the amount of private U.S. agricultural land that can be foreign owned. However, several states have imposed certain prohibitions or restrictions on foreign ownership, but do not significantly inhibit foreign farmland ownership, while most states expressly allow foreign ownership. The US government controls direct investment flows. Federal law requires foreign persons and entities to disclose to USDA information related to foreign investment and ownership of U.S. agricultural land. The Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) and its federal regulations, implemented by USDA, established a nationwide system for the collection of information pertaining to foreign ownership of U.S. agricultural land. At the federal level, the Committee on Foreign Investment (CFIUS) authorized to review certain transactions involving foreign investment in the United States in order to determine the effect of such transactions on U.S. national security.
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Franceschelli, Ferdinando. "PROTECTING ITALIAN INVESTMENTS IN LIBYA’S CHANGING ENVIRONMENT." Italian Yearbook of International Law Online 23, no. 1 (November 17, 2014): 147–72. http://dx.doi.org/10.1163/22116133-90230042.
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Italy is both the main trading partner and the State that has the most sizeable foreign direct investment interests in Libya. However, the outbreak of armed conflict in Libya in 2011 resulted in extensive damage to Italian investors. In order to obtain proper redress Italian investors may seek to rely upon investment protection provisions contained in treaties previously concluded between these two States, notably the BIT of 2000 and the Treaty of Benghazi of 2008. Crucially, however, the outbreak of the armed conflict and the subsequent regime change that took place following the Gaddafi’s removal from power raise doubts about the effectiveness of such treaties. This article firstly reviews both the relevant rules of international law and the investment treaties in force between Italy and Libya. Then, it examines the relationship between Italy and Libya during and after the events of 2011 and comes to the conclusion that such treaties are still effective and as such Italian investors may invoke the provisions contained therein, including those envisaging resort to international investment arbitration.
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Kamaci, Ahmet, Ekrem Gul, and Mustafa Torusdag. "FOREIGN DIRECT INVESTMENTS, TRADE OPENNESS AND CO2 EMISSIONS RELATIONSHIP: THE CASE OF 1995-2019 EU COUNTRIES." Revista de Investigaciones Universidad del Quindío 33, no. 2 (October 1, 2021): 56–73. http://dx.doi.org/10.33975/riuq.vol33n2.637.
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Foreign direct investments (FDI), which are very important in the economic development of countries, prefer regions with free trade. Since the share of international trade in the world economy is constantly increasing, trade openness and foreign direct investments have become more important for countries. However, the increase in trade and FDI entries can have negative effects on the environment. Although many different variables are included in the literature as determinants of carbon emission, foreign direct investments are mostly taken as an explanatory variable with the effect of the economic globalization process.
The aim of this paper is to analyze the relationship between FDI, trade openness and CO2 emission for the 1995-2019 period in 24 EU countries. The relationship between variables was estimated by applying panel AMG estimator and Emirmahmutoglu and Kose causality tests to series with cross-sectional dependency. Empirical results for the overall panel show that there is unidirectional causality from carbon emission to trade openness and FDI. There is a directional causality from FDI to trade openness for the general panel has been determined.
When analyzed on a country basis, there is unidirectional causality from carbon emission to trade openness for Bulgaria, Italy, Latvia, Poland, Portugal and Slovenia. Likewise, for Austria, Denmark, Estonia, Finland, France, Germany, Poland, Portugal, Spain and Switzerland, there is unidirectional causality from carbon emission to FDI. In addition, when analyzed on a country basis, there is a one-way causality relationship from foreign direct investments to trade openness for Bulgaria, Italia, Latvia, Poland, Portugal and Slovenia. For Bulgaria, Finland and Germany, there is a one-way causality from trade openness to foreign direct investment. The importance of this study derives from the emphasis on the need for environmentally protective FDIs to reduce carbon emissions.
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Marchi, Valentina, Antonio Raschi, and Francesca Martelli. "Evaluating Perception of Sustainability Initiatives Invested in the Coastal Area of Versilia, Italy." Sustainability 13, no. 1 (December 31, 2020): 332. http://dx.doi.org/10.3390/su13010332.
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Nowadays, following the increased interest and need for the issue of sustainability, tourist destinations are called upon to promote sustainable tourism development through the implementation of investments and initiatives. Despite the investments by the destinations, how are these perceived by tourists and residents? Based on this, this paper aims to assess the perception of sustainable investments in a coastal area located in Tuscany, through the administration of a questionnaire among 750 people, including both tourists and house owners. The study adopted statistical logit and probit models to detect the perception of sustainable initiatives in relation to beach satisfaction. Moreover, this research developed a model for understanding if there are substantial differences in perception between Italian and foreign beach users and at the same time between residents/house owners and tourists. The findings reveal that those who perceive investments in sustainability are more than satisfied with beach and facilities. The model shows that foreigners and residents/house owners perceive sustainable investments implemented in the destination more than tourists and Italian respondents. This research can provide support to local operators and policymakers in defining the destination image in relation to sustainability.
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Liuhto, Kari. "A Lesson from two Failed Foreign Investments: the Foreign (Ad)Venture of two Finnish State-Owned Enterprises." Outlines of global transformations: politics, economics, law 11, no. 1 (April 4, 2018): 185–200. http://dx.doi.org/10.23932/2542-0240-2018-11-1-185-200.
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As an organisational failure may teach more than an organisational success, this article describes the failed foreign investments of two Finnish stateowned enterprises (SOEs), namely Sonera and Stora Enso. In 2000, Sonera acquired a mobile phone licence in Germany and Italy for USD 4,000 million. Two years later, it turned out that the licence was worthless. In turn, Stora Enso acquired an American paper firm for USD 5,000 million in 2000, but seven years later Stora Enso sold this US unit at a loss of USD 2,000–3,000 million. These two cases reveal that the major reason for these failures was the inability of SOE management to predict business development. Other major reasons for failure were the conflicting motives of the management and the company (the main shareholder), and inadequate state control. Passive control of the state may encourage SOE management to exercise adventurous investment policies and take major risks. In Sonera’s case, unrealistic risk taking led to serious financial difficulties, and finally, to a forced sale of the entire group to Telia, the Swedish telecom company. Stora Enso’s stronger financial position saved it from an organisational failure. A lesson to policy-makers: a responsible minister and the minister’s subordinates should exercise a more active ownership policy and keep the political interests of his/her party subordinate to the strategic interests of the state. Recent public discussion on SOE governance in Finland reveals that the Finnish Government still experiences difficulties in fully digesting the wisdom of the OECD Guidelines of Corporate Governance of StateOwned Enterprises.
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Zeren, Feyyaz, Nazlıgül Gülcan, Samet Gürsoy, İbrahim Halil Ekşi, Mosab I. Tabash, and Magdalena Radulescu. "The Relationship between Geothermal Energy Consumption, Foreign Direct Investment, and Economic Growth in Geothermal Consumer Countries: Evidence from Panel Fourier Causality Test." Energies 16, no. 3 (January 24, 2023): 1258. http://dx.doi.org/10.3390/en16031258.
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This paper investigates the relationship between geothermal energy consumption, economic growth, and foreign direct investments in countries where geothermal energy production is possible. Panel Fourier Granger causality and panel Fourier Toda–Yamamoto causality tests (2020–2021) were applied, which can take into account smooth transitional structural breaks with trigonometric functions using quarterly data for the period 2016 Q1–2020 Q3. Data were obtained from the International Energy Agency (IEA), Federal Reserve Economic Data (FRED), and the OECD official website. According to the results obtained based on panels, there is one-way causality from economic growth to geothermal energy and one-way causality from geothermal energy consumption to foreign direct investments. The results obtained based on individual countries indicate that one-way causality from foreign direct investment to geothermal energy consumption was found for Mexico and Portugal, and one-way causality from geothermal energy consumption to economic growth was found for Italy and Mexico. On the other hand, causality from economic growth to geothermal energy consumption was observed for Germany, Japan, and USA. No significant results were found for Turkey and New Zealand, and it is understood that the macroeconomic structures of these countries are not affected by geothermal energy. The difference in the results reveals that the application recommendations on this subject should also be different.
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Burgess, Geoffrey P., Timothy McIver, Philippe Tenglemann, Rosanne Lariven, Andrea Pomana, Jan Schoberwalter, and Edoardo Troina. "Foreign direct investment rules in selected European countries – an overview." Journal of Investment Compliance 22, no. 1 (April 8, 2021): 1–19. http://dx.doi.org/10.1108/joic-07-2020-0009.
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Purpose To provide an overview of the national foreign direct investment (“FDI”) screening mechanisms in place across Europe including in France, Germany, Italy, the Netherlands, Spain and the UK. Design/methodology/approach This article summarizes the key elements of the national FDI screening regimes of some of the leading European economies. This includes setting out the relevant investment thresholds, protected sectors, lengths of review periods, standstill obligations and potential sanctions in each jurisdiction. Findings Many of Europe’s leading economies are following the wider global trend towards stricter reviews of foreign investment ahead of the EU Screening Regulation coming into force in October 2020. However, the approach taken to FDI screening can vary significantly at a country level in terms of both process and substance and the applicable laws are evolving rapidly, not least as a response to concerns related to the impact of COVID-19. Practical implications Investors looking to make acquisitions in Europe will need to consider whether national FDI screening will apply to their proposed investments. Depending on the jurisdiction, FDI screening can introduce lengthy review periods and require detailed information gathering as well as uncertainty as to the final outcome. Potential investors also need to consider the risk of sanctions, including criminal sanctions, for non-compliance with the screening regimes. Originality/value This article offers a summary and comparison of national FDI screening regimes across Europe.
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López-Rodríguez, Ana Mercedes. "The Sun Behind the Clouds? Enforcement of Renewable Energy Awards in the EU." Transnational Environmental Law 8, no. 02 (June 7, 2019): 279–302. http://dx.doi.org/10.1017/s204710251900013x.
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AbstractA number of European Union (EU) countries have undertaken thorough reforms in the renewable energy sector over the past years. The regulatory changes have triggered a wave of claims from low-carbon investors asserting that the reforms have diminished or exhausted the economic viability of their investments. Unlike local investors, who typically take legal action before domestic courts, foreign investors have filed arbitration claims in accordance with the Energy Charter Treaty, notably against Spain, Italy, Bulgaria, and the Czech Republic, resulting in several awards of damages. However, recent developments in EU state aid law seem to restrict the ability of investors to obtain compensation. This article argues that such developments may undermine renewable energy policy, because arbitration enhances the regulatory stability and predictability which low-carbon investments require only if arbitral awards can be enforced effectively. The article examines the different scenarios that may arise out of the interplay between EU law and investment arbitration in the EU and concludes that the European Commission's arguable redrawing of the boundaries of state aid rules to encompass investment arbitration, combined with the EU's general quest to replace investment arbitration with alternative mechanisms of adjudication, may jeopardize climate change mitigation policies.
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Musolino, Dario, and Alessia Silvetti. "Are Mountain Areas Attractive for Investments? The Case of the Alpine Provinces in Italy." European Countryside 12, no. 4 (December 1, 2020): 469–93. http://dx.doi.org/10.2478/euco-2020-0025.
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Abstract In the increasing territorial competition to attract productive investments in the age of globalization, mountain areas have a role to play, if they wish to find new (exogenous) resources to diversify their economy and to develop sustainably in the future. This means that they have either to be, or to become attractive. Attractiveness for investments is an issue rarely studied with respect to mountain areas. This paper casts light on the attractiveness of the Italian Alpine provinces, using quantitative and qualitative data coming from a research on the stated locational preferences of entrepreneurs in Italy. According to the findings, it is not said that mountain areas are unattractive, due to their characteristics in terms of physical geography and accessibility. Instead, a different perspective on geography itself (Alpine areas bordering with foreign countries), and the role of the government, can make even marginal areas like mountain areas rather attractive for investments. Therefore, policy-makers should identify and strengthen all possible locational advantages that can strengthen the attractiveness of these areas.
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Potapov, D. "The European Union and China Foreign Direct Investment Cooperation in the Context of the Belt and Road Initiative." Analysis and Forecasting. IMEMO Journal, no. 4 (2020): 76–93. http://dx.doi.org/10.20542/afij-2020-4-76-93.
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The article analyses the foreign direct investment cooperation between the European Union and the People’s Republic of China under the Belt and Road Initiative. The initiative is proposed by China and is aimed at developing cross-regional transport and logistics infrastructure connecting China with South-East, South and Central Asia, the Middle East, East Africa and Europe. The author examines the history of the initiative and its assessments by international organizations (e.g. the World Bank and the ESCAP UN) and investigates the structure and statistics of the EU-China investment relations, basing on the examples of the most important China’s investment partners (including France, Italy, Germany and the Vishegrad Group countries). The discrepancy between the conditions for the EU and the Chinese investors is highlighted. The author defines and characterizes the major models of the Belt and Road projects’ development, which are used by China in cooperation with the EU Member States. The EU investors in China face restrictions imposed by the national regulation of foreign investments. In particular, the external investors do not have access to the sectors crucially important for national interest and security (e.g. high-tech sectors and mass media). At the same time, Chinese investors’ access to the EU financial markets is not limited, allowing them to become important shareholders in the EU companies and to transfer technologies. It raises concerns within national governments and the European Union itself. The national governments are establishing and adopting screening mechanisms for foreign direct investments and additional regulations to control important sectors and enterprises. At the same time, the EU Member States are developing a common view on the prospects and mechanisms of cooperation with China under the Belt and Road initiative. The EU countries have not yet reached a consensus upon the Belt and Road initiative and the prospects of the EU participation in it, so the author focuses on the strategies of the examined countries. Germany is calling for a common position for all the EU member states and advocates for using the EU-based mechanisms and platforms for cooperation with China. Such demands are also connected with the promotion of a common EU investment screening mechanism in order to protect the Member States’ interests and security. Italy is deepening its cooperation with China through bilateral mechanisms, mainly based on a memorandum of understanding with China on the Belt and Road initiative. France, on the one hand, shares the common interest with Germany regarding the need for the common EU policy towards the Chinese initiative, but on the other hand, the country is deploying new projects with China. The Visegrad Group states are forging their ties with China through bilateral and multilateral cooperation mechanisms and they are interested in the growth of Chinese investment inflows. This undermines the unanimity of policy towards China and the Belt and Road.
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Franceschi, Franco. "Big Business for Firms and States: Silk Manufacturing in Renaissance Italy." Business History Review 94, no. 1 (2020): 95–123. http://dx.doi.org/10.1017/s0007680520000100.
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Silk manufacturing began in Lucca in the twelfth century and by the fifteenth century Italy had become the largest producer of silk textiles in Europe, nurtured by extensive domestic and foreign demand for the luxurious fabric. This essay explores the market for silk textiles, the organization of the silk industry, and the role played in it by guilds, entrepreneurs and their capital, and highly sought after artisans. Just as silk manufacturing was an important and lucrative business for entrepreneurs, this article argues, so was it a crucial strategic activity for the governments of Italy's Renaissance states, whose incentives, protections, and investments helped to start up and grow the sector with the aim of generating wealth and strengthening their respective economies.
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Supino, Ilaria. "Inward FDI and Local Institutional Building: Evidence from the Financial Sector in Italy." European Business Law Review 27, Issue 5 (October 1, 2016): 605–13. http://dx.doi.org/10.54648/eulr2016027.
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The relationship between economic growth, institutional soundness and inward FDI has always been an ambiguous one. Extensive literature has tried over time to explore the way by which foreign capitals contribute to the host country’s economy, by specifically investigating on the role played by local institutions as moderating factors. In detail, this paper explores whether the financial institutions’ intermediating function exerts some (least indirect) influence on investments from abroad: for this purpose, I put under scrutiny the peculiar current banking scenario in Italy, which – after the recent financial distress – has implemented (and is still involved to implement) relevant institutional reforms, also with the purpose of attracting financial FDI.
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Armenise, Massimo, Federico Benassi, Marica D’Elia, Marianna Mantuano, and Francesca Petrei. "The Exposure Geography of Italian Local Economies to Major Foreign Ones. Evidences from a Multiscale Spatial Experiment Based on Granularity." Jahrbücher für Nationalökonomie und Statistik 242, no. 1 (October 4, 2021): 87–105. http://dx.doi.org/10.1515/jbnst-2020-0064.
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Abstract An original approach to spatial economic analysis is here proposed with reference to Italy. A granularity approach is applied on microdata related to a panel of firms that have been active during 2007–2017. At each firm is therefore associated a coefficient of exposure to the economic cycle of four major foreign economies: Germany, UK, USA, and China. This information is then linked to territorial level and analyzed at two geographical scales: regional and sub-regional. The autocorrelation spatial analysis carried out lead us to appreciate geography of exposure to positive or negative shocks coming from each of the four foreign economies. This geography is very different from the administrative one and can represent a tool for planning future strategies of economic investments and territorial planning.
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Ermakova, Elena P. "“Solar” cases: could Italy’s withdrawal from the Energy Charter Treaty lead to its collapse?" Gosudarstvo i pravo, no. 3 (2022): 150. http://dx.doi.org/10.31857/s102694520019171-9.
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The article notes that investments in solar energy have already led to a number of arbitration cases related to the subsequent change in investment incentives. The so-called Solar Cases, initiated by investors under the Energy Charter Treaty (ECT) against Kingdom Spain, Italy and the Czech Republic, focused on the question of whether states could adjust incentives (subsidies and feed-in tariffs) to the detriment of investors after these investors relied on these subsidies to make their investments. Following the results of these arbitration proceedings, the European Union in 2019 decided to revise the text of the ECT. Eight rounds of negotiations were held during 2020 and 2021, the last of which took place in November 2021. Many believe that the reform of the existing treaty has taken too long. In February 2021, France sent a letter to the European Commission on the need for a coordinated EU exit from the ECT. Against this background, Italy’s withdrawal from the ECT on January 1, 2016, as well as Russia’s withdrawal of the signature on the treaty in 2018, are actions that determine the inevitable collapse of the ECT in the very near future. This article is devoted to the study of the causes and legal consequences of these events. Since Russia’s withdrawal from the ECT has already been the subject of study by many Russian and foreign scholars, the author focused their attention on the study of Italian arbitration disputes based on the ECT provisions, as well as on the study of foreign doctrine on this issue.
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Kabaklarli, Esra, Fatih Mangir, and Bansi Sawhney. "Impact of Infrastructure on Economic Growth: A Panel Data Approach Using PMG Estimator." International Review of Business and Economics 2, no. 2 (2018): 29–49. http://dx.doi.org/10.56902/irbe.2018.2.2.2.
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Growth theory asserts that infrastructure investments promote economic growth by improving the quality of life and increasing private sector productivity . Transport services, water utility services and telecommunication services provide better facilities to attract FDI (foreign direct investment) and increase productivity across sectors. The aim of this article is to analyze whether transport infrastructure investments have a strong effect on the economic growth. It also attempts to analyze the differential impact of each type of infrastructural spending on economic growth. Our data set covers annual data from 1993 to 2015 period for 15 OECD countries (Austria, Turkey, Czech Republic, Spain, Finland, Japan, Germany, Ireland, Italy, France, Korea, Mexico, Netherlands, Poland, U.K) and China. In this study, we employ a Pool Mean Group (PMG) estimator to find long run and short run relations between the variables. Output elasticity of air transport is found to be positive and significant at five percent level and there exists a long run relationship between GDP per capita and other explanatory variables such as transport infrastructure indicators, gross capital formation and labor force. The crowding- out hypothesis is also supported by coefficients on county specific results. Our data set includes infrastructure variables such as Railways, (million passenger-km), Air transport, (freight, million ton-km), Individuals using the Internet (% of population).
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NIKOLIC, MARIJA, MAURA LA TORRE, and GORAN LALIĆ. "National Culture Values: reflections on formation process of future leaders in international economic cooperation." Journal of Education Culture and Society 4, no. 2 (January 9, 2020): 217–26. http://dx.doi.org/10.15503/jecs20132.217.226.
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The trend towards foreign investments in Serbia has been in rapid progress in recent years. The biggest and most valuable numbers of investments are coming from Italy. The authors’ expectation is that the trend of Italian investments in future will continue; therefore it is of high importance for the representatives of both countries’ business sectors to under-stand and accept differences and similarities to the other country’s business culture. Research of cultural differences between two nations , which are considered like a frame of business culture, helps avoiding possible misunderstandings and improving business cooperation be-tween two countries. Having in mind students of economics and management, on one hand like future leaders of Italian and Serbian business and on other like representatives of the cur-rent education value system in the field of economics and management, this study consists of an application of the 7-D Hofstede Model. The application of the model takes place through the administration of two surveys done by students of Serbian Megatrend University, in Bel-grade, and Italian Università degli Studi Gabriele d’Annunzio, in Pescara
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Mutinelli, Marco, and Sergio Mariotti. "L'evoluzione delle imprese multinazionali italiane e il ruolo del quarto capitalismo." ECONOMIA E POLITICA INDUSTRIALE, no. 1 (April 2009): 123–34. http://dx.doi.org/10.3280/poli2009-001008.
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- The purpose of this article is to outline the evolution of Italian multinational firms during the 2001-2007 period. The descriptive statistics show that a selected group of medium-sized firms has outperformed the other Italian multinationals in terms of growth rate. The evidence is consistent with the hypothesis of the emergence in Italy of the so-called "fourth capitalism", as an alternative successful model to both the industrial districts and the large chandlerian corporations. Some limits of this structural evolution are also discussed. Keywords: foreign direct investments (FDIs), Italian multinational firms Parole chiave: investimenti diretti esteri (IDE), imprese multinazionali italiane Jel Classification: F23
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M. Mykhailenko, M. Mykhailenko. "THE ECONOMIC POLICY PECULIARITIES OF THE “HISTORICAL RIGHT” GOVERNMENTS OF THE KINGDOM OF ITALY (1861-1876)." Bulletin of Taras Shevchenko National University of Kyiv. History, no. 139 (2018): 48–52. http://dx.doi.org/10.17721/1728-2640.2018.139.09.
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This research analyses the economic policies peculiarities of the “historical right” governments of the Kingdom of Italy from the first stage of the unification of this country into a single nation state and rise of the “historical right” governments to power till the transfer of power to the “historical left”. It also specifies the main directions of economic reforms in a certain period of time and their impact on the further development of the state. The research establishes that the liberal economic model for country’s development chosen by its leadership at the very beginning allowed to quickly create the domestic market of goods and services, establish fruitful foreign economic relations with the greatest economic powers of that time and attract foreign investments into the Kingdom, promoting the development of the Kingdom’s agricultural sector and accumulating a substantial capital within the country. However, given the significant economic backwardness of the states of the Apennine peninsula before the unification and the actual abolition of customs barriers in trade with more powerful European countries after 1861, it had a negative impact on the country’s weak industry and deepened the distortion of development along the north-south line. The undeniable achievement of the "historical right" governments in the fiscal policy was the overcoming of the huge deficit of the state budget before 1876.
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Migliaccio, Guido, and Alessia Adamo. "Profitability of Italian Restaurants Before and During the Pandemic." Socio-Economic Analyses 14, no. 1 (June 30, 2022): 31–38. http://dx.doi.org/10.54664/nxyo1490.
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Restaurant businesses play a leading role in the economy of a tourist country. Traditionally the destination of many foreign guests, Italy is also renowned for its excellent cuisine based on the Mediterranean diet. This paper analyzes the trend of two profitability indices of a sample of large Italian restaurants, related to the pre-pandemic period and in the COVID-19 year, 2020. For this purpose, financial statements from the AIDA database were used. Profitability was studied using RoE (return on equity) and RoS (return on sales). The study is related to the entire country and its three macro-regions (North, Center, and South with islands). The analysis showed a dramatic fall in the year of COVID-19 despite government interventions to support the business that has been subject to forced closures. The main limitation of this study is its purely quantitative nature limited to a sample of restaurants with annual revenues over €800,000. The results are useful to Italian and foreign entrepreneurs who can relate their situation to the average situation in the sector. In the future, the study should consider other profitability and asset indices, as well as investigate investments in sustainability, taking into account the role of restaurants which should contribute to the development of fair, ethical, and sustainable tourism.
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Di Gregorio, Giuseppina. "Multilingualism and the management of small and medium-sized enterprises: the case of Sicilian firm websites and related localisation strategies." International Journal of Linguistics, Literature and Culture 9, no. 1 (March 31, 2022): 22–40. http://dx.doi.org/10.19044/llc.v9no1a22.
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According to the ELAN1 report, European firms lose a significant amount of revenue due to unsuccessful transactions, as a result of inadequate linguistic skills and intercultural competence, reinforcing the idea that multilingualism is still perceived as a communication barrier. In Italy, small and medium firms show a marked preference for website translations, even if, as pointed out by PIMLICO research in 2011, it is not possible to define these products as multilingual websites or localised ones. Firms show a tendency to reduce investments in foreign languages and to simplify the hiring processes of employees, since they prefer to rely on external services rather than providing training courses or hire specialists. Referring to this background of references and the evidence that emerged from an online questionnaire submitted to Sicilian small and medium firms (Di Gregorio and Benzo, 2016), the aim of this paper is to investigate the choices of firms to localise websites as part of a comprehensive linguistic policy.
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Galletto, Luigi, and Luigino Barisan. "Carbon Footprint as a Lever for Sustained Competitive Strategy in Developing a Smart Oenology: Evidence from an Exploratory Study in Italy." Sustainability 11, no. 5 (March 11, 2019): 1483. http://dx.doi.org/10.3390/su11051483.
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In the wine sector, the choice of a sustainable strategy based on smart marketing has gained more relevance due to the growing importance of sustainability. The literature illustrates a multiplicity of perspectives, wherever firms are committed to improving sustainability and market performance. This exploratory paper aims to make sense of the extant literature by analysing 10 case studies in Italy, focusing on sustainable competitive resources and strategies, considering the role of CF (Carbon Footprint) as a crucial factor. The research has considered a complementary theoretical framework based on both Resource-Based Theory and Competitive Advantage Theory. Data were analysed by descriptive statistical techniques. The results show a bundle of unique resources and strategies in pursuing firm performance, wherever CF may lead to significant sustained competitive advantages in firms’ value capture (ex. image and reputation and customers’ relationships loyalty, entrance into new foreign markets). Findings highlight that perceiving the costs and benefits of investments in lowering CF may guide to a more accurate understanding of the value-creating from the different type of eco-innovation for building tailor-made communicational and marketing strategies.
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Ha, Sha. "Recent Personnel Reforms of Public Universities in China and in Italy: A Comparison." International Journal of Higher Education 7, no. 1 (January 26, 2018): 87. http://dx.doi.org/10.5430/ijhe.v7n1p87.
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Purpose of the present research is an investigation of the most recent personnel reforms of higher education institutions in China and in Italy. A one-to-one comparison between the two realities would have been unrealistic, given the enormous differences between the two Countries in size and historical development. We focused our analysis on some basic issues common to both higher education institutions, such as the degree of the academic autonomy from the political power in the academic governance and the quality of the knowledge production and transfer to the society. The Sun Yat-Sen and the Guangzhou Universities in the Guangdong Province of China, and the Universities of Padua and Ca’ Foscari in Venetian Region of Italy, have been chosen as case studies.In China the personnel reforms introduced by the central government in the period 1995-2014, were accompanied by a relevant financial support by the central and regional authorities, thus helping the national universities to attain high standards of excellence in the technological domain. Those remarkable financial investments by the central and regional authorities are paying off, contributing to the technological advancement of the Country.As for the Italian public universities, a very innovative reform law was introduced by the ‘Ministry of Education, University and Research’ in December 2010, which granted a high level of governance autonomy to those institutions. Unfortunately, the great financial crisis that hit the Country in the same period of time caused a strong reduction of the public funds to universities and a consequent brain drain of young post graduates toward Northern Europe and North America.In spite of this temporary shortage of funds, Italian public universities have maintained their high level of excellence in science, technology and humanities, as evidenced by the increasing number of their bilateral cooperation agreements, concerning student mobility and joint research activities, with foreign universities all over the world, China included.
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Rosaria Della Peruta, Maria, Francesco Campanella, and Manlio Del Giudice. "Knowledge sharing and exchange of information within bank and firm networks: the role of the intangibles on the access to credit." Journal of Knowledge Management 18, no. 5 (September 2, 2014): 1036–51. http://dx.doi.org/10.1108/jkm-06-2014-0255.
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Purpose – The purpose of this paper is to theoretically develop the idea that the intangible value of the collaboration between firms and the banking system can influence the probability of default (PD) on the part of firms and, therefore, their rating. The authors also propose that collaboration between banks and firms has a positive effect not only on the access to credit but also on the innovation activities and on the intervention of foreign capital in the ownership of Italian businesses. Design/methodology/approach – As pointed out by the literature on smaller businesses finance, investments widely rely on credit availability. Tests using data on a sample investigation involving 5,587 firms, operating in 17 manufacturing sectors in Italy, support the majority of the proposed ideas. Findings – The empirical investigation shows that only some aspects of the collaboration between enterprises and banks influence the PD, the investments in R&D and the internationalisation of ownership of the enterprises. In particular, the three stated variables are positively influenced both by the intensity of the credit relationship and by the level of information exchange with the credit system. Research limitations/implications – Further development of this research, as more empirical data become available, should allow explaining why the level of information exchange with the credit system has the greatest influence on the dependent variables analyzed. Originality/value – This paper aims to extend the current understanding on how the local banking system is developed and is able to increase access to credit after gathering all the information about firms asking for funds.
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Mitsi, Dimitra. "Good Governance and Economic Growth in South European Countries." Review of European Studies 13, no. 2 (April 6, 2021): 26. http://dx.doi.org/10.5539/res.v13n2p26.
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Economic growth is a prerequisite for economic development. However, there is no “recipe” for countries to create an environment of prosperity and to achieve high rates of economic growth. Many researchers have examined the drivers of economic growth and find that economic growth depends on many economic and institutional variables. In this context, the main objective of this paper is to examine the role of good governance on economic growth in piicgs countries (Portugal, Ireland, Italy, Cyprus, Greece, and Spain). The database was collected from many sources and the empirical analysis is based on a 2SLS (two-stage least squares) technique. In our empirical results, we find that trade openness, gross capital formation, inflation, political stability, rule of law, debt rule, budget balanced rule, and the combination between debt rule/budget balanced rule with political stability and combination between debt rule/budget balanced rule with rule of law are significant drivers of economic growth in piicgs countries while foreign direct investments, government effectiveness, voice and accountability, regulatory quality, fiscal rule index and expenditure rule are insignificant. However, the results may be different if we use other sample groups and/or different periods.
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Coca Gamito, Carlos Alberto. "Returns-to-education gaps between native and migrant workers: the infl uence of economic integration on their drivers. Are Active Labour Market Policies (ALMPs) an eff ective remediation tool? A case comparison: Italy, Germany, Denmark and Cyprus." Bulletin of Geography. Socio-economic Series, no. 56 (May 19, 2022): 63–81. http://dx.doi.org/10.12775/bgss-2022-0013.
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This paper answers the research question of whether economicintegration influences the drivers behind returns to education for native, EU and non-EU workers in the selected countries. It fills two gaps in the literature, assessing the role of economic integration in determining differences in returns on investments in education and testing whether ALMPs can bridge them. The literature has identified that returns to education vary between national and foreign workers. Differences among nationality groups regarding the quality of their educational background, their knowledge of the hosting labor market, or the mismatch between the qualifications and skills acquired abroad and those demanded by the local economy have been put forward to explain the gaps in returns to education. This paper contends that those factors might be economic reasons behind the differences in the returns to education but that their effect is mediated by the different degrees of economic integration between the host country and workers’ home country.
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Trofymenko, Mykola. "Public diplomacy of the Italian Republic." Bulletin of Mariupol State University. Series: History. Political Studies 10, no. 27 (2020): 150–62. http://dx.doi.org/10.34079/2226-2830-2020-10-27-150-162.
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The article states that the Italian Republic is a country with an extremely developed soft power: Italian language, culture, cuisine, fashion, tourism, etc. Italy has unique mechanisms for the implementation of its public diplomacy (PD), which includes a wide network of Italian institutes of culture, schools, lectureships at foreign universities. In order to find out the origins of Italian cultural policy, the article refers to the period of Great Emigration of the late nineteenth century, and more precisely to the law of 1889, under which the Crispy government established the first Italian schools abroad, called "Royal Schools" (Scuole Regie), entrusting organizational and training control over them to the Ministry of Foreign Affairs. It is noted that one of the most effective and efficient actors of the PD of the Italian Republic is the network of Italian cultural institutes. The legislative origins of the Italian institutes of culture date back to the order of 1926. The idea of spreading Italian culture was formulated at the legislative level during fascism. The official purpose of these institutions was to spread Italian culture abroad and to develop intellectual relations with third world countries, without hiding the purpose of political and cultural penetration and propaganda of the regime. Within the article, it is mentioned that the central governing bodies of the Italian Foreign Ministry operate through a number of the General directorates that are responsible for various issues. In accordance with the above mentioned law no. 401, Directorate General for Cultural Relations (DGRC), which after the 2000 MFA reform was renamed to the Directorate General for Cultural Promotion and Cooperation (DGPCC) dealt with the cultural matter, it was a change that pointed to the new purposes of Italian foreign policy. In the early 2000s, the National Commission for the Promotion of Italian Culture Abroad joined the Ministry of Foreign Affairs, gaining momentum for the intensification of the cultural and scientific dimension of foreign policy and the development of new "General Directions for the Promotion and Dissemination of Italian Culture and Language Abroad". Currently, the network of the Ministry of Foreign Affairs consists of 127 embassies, 93 consulates, 83 cultural institutes, 261 lecturers, 291 educational institutions, 161 Italian departments, 21 scientific attachés and about 150 archeological missions. What is more, the committees of the Dante Alighieri Society and the organizations administering the Italian language courses in accordance with law no. 153/71 are added. It is a large network that must adapt to new foreign policy needs, trying to overcome not only a number of structural shortcomings, but also the geographical distribution of ministerial offices abroad, which no longer corresponds to the development of the world, politics and economy. Today's globalization processes, new geopolitical imbalances and a serious global economic and financial crisis have forced the Italian Foreign Ministry and the National Commission for the Promotion of Italian Culture Abroad to reconsider the activities and reorientation of functions and activities of Italian cultural institutions in reforming the state system. In the last three years, the need for savings in government spending has resulted in a constant and consistent decrease in resources for the country's international projection; so, in order to ensure the competitiveness of the Italian cultural offer, it is also necessary to adapt the mission and activities of the cultural institutions. The new founding principles, developed in March 2012, aimed to revolutionize the organization and management of the structure of the spread of the Italian language and culture abroad, largely interfering with the activities of Italian cultural institutions. They can be summarized as follows. Italian culture is a strategic asset for the entire state system. This role is expressed in terms of: - a resource for the national economy; - investments for the design of our production system; - employment opportunities for new generations. This is one of the most effective foreign policy tools for: - promotion of the general image of the country abroad; - supporting the process of internationalization of our companies; - assistance to government actions at the international level. The promotion of the Italian language and culture abroad has positive consequences for the country's economy, where intellectual resources, cultural heritage, creativity, innovation and research are indispensable capital for recovery and growth. To fully understand all the opportunities that can provide the promotion of culture in an increasingly complex and competitive international scenario, it is necessary to adapt the mission of cultural institutions to targeted strategies that can involve all components of the state system. It is concluded that Italian public diplomacy is focused on promoting cultural achievements, significant achievements of Italy in cinema, cuisine, fashion, many tourist destinations and more. An extensive network of Italian institutes of culture, Italian schools, and lectureships represents the Italian model of public diplomacy. The Italian Foreign Ministry actively uses universities to promote its interests, promote the Italian language and culture abroad. In general, it should be noted the high efficiency of the Italian model of public diplomacy, even taking into account the relatively low amount of funding. At the same time, the involvement of Italian producers in the promotion of Italy abroad is also positive.
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Sabaydash, Marina Vladislavovna. "Retrospective analysis of commercial sea ports operation during first five-year plans and their role in USSR economic industrialization (1928-1940)." Vestnik of Astrakhan State Technical University. Series: Economics 2020, no. 4 (December 30, 2020): 83–97. http://dx.doi.org/10.24143/2073-5537-2020-4-83-97.
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The article highlights the general regularities of the economic development of commercial sea ports in the USSR and defines their role in industrialization of the country. For the first time there has been carried out a comparative analysis of sea port cargo turnover dynamics in relation to the ports of Great Britain, Germany, Italy, the Netherlands, the USA and France. The rates of port cargo turnover growth are investigated in comparison with the rates of industrial production growth, the volume of railway and inland water transport. The changes in the main cargo flows connected to the industrialization of the economy in all sea basins of the USSR have been studied. The dynamics of different types of cargo transshipment has been investigated. There has been stated the increasing rate of coastal cargo transshipment against the significant decrease in the export-import cargo transshipment due to the policy of self-reliance. The structure of foreign commercial cargos has been studied, a significant excess of exports over imports has been revealed. It has been found that the high growth rates of cargo turnover in the Soviet ports were due to the increase in the volume of oil cargo transshipment in the ports of the Caspian Sea. There have been calculated the average age and deadweight of Soviet ships in 1939, compared to the similar average international parameters and figures of the previous years. It was determined how the port's technical characteristics and lack of funding influenced these parameters. Investments to the seaports were hundreds of times less than investments to heavy industry and railway transport, and dozens of times less in inland waterways, since the seaports were not the priority objects in the program of economic industrialization. As a result, plans were not fulfilled, ships were idling in the ports, and labor productivity was low. It has been inferred that the activity of seaports during the first five-year plans was not profitable. There have been studied the specific features of the state system of seaports management during the first five-year plans.
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Nicole Wassenberg. "Transatlantic Trade and Investment Partnership (TTIP): The Possible Impact on the European Union and North America." Journal of Advance Research in Business Management and Accounting (ISSN: 2456-3544) 2, no. 8 (August 31, 2016): 01–08. http://dx.doi.org/10.53555/nnbma.v2i8.92.
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The Transatlantic Trade and Investment Partnership (TTIP) is projected high-standard and inclusive free trade agreement which is being conversed between the United States (US) and European Union (EU). Transatlantic Trade and Investment Partnership is a chain of trade negotiations operating between EU and US. The TTIP is mainly about decreasing the regulatory obstacles to trade to open up a way for bigger businesses such as environmental legislation, food safety, sovereign powers of the individual nations and also banking regulations. The US and EU are two of the most integrated countries when it comes to economy globally. It is as a result of their trade in services, investments and the high commercial presence in each other's financial prudence. These two regions support each other when it comes to the economy, and that's why they are good trading partners in products and services. The EU and U.S trade and investment partnership which is sometimes referred to as transatlantic economy has a significant global relationship and creates a mutually beneficial understanding between the two states (Hoekman and Kostecki, 2009). The TTIP is one of the largest trade and investment partnership in the world and also the most significant because of its absolute size. It has many for example the European Union has 28 member states which include: Bulgaria, Cyprus, Belgium, Austria, Czech Republic, Estonia, Germany, Denmark, Finland. Greece, Ireland, Hungary, Italy, Netherlands, Poland, Slovenia, Lithuania, Romania, Spain, Latvia, Sweden, Portugal and United Kingdom are also part of the partnership. The initial negotiations on TTIP which was to become the first largest bilateral free trade and investment partnership agreement were earlier supported by a paramount and independent study of the Center for Economic Policy Research (CEPR). The study by CEPR was called Reduction of the Transatlantic Barriers to Trade and investment. The negotiations were mainly to provide independent advice to the two negotiators based on the additional research. Despite, TTIP being one of the largest trade and investment partnership, it has created both negative and positive impacts on the two states. There are benefits t being enjoyed by the member states such as job creation and home growth. The EU depends on the US exports; they can get investments from the US and also import the goods and services they require (Khanna, Palepu, and Sinha, 2005). Other positive impacts of the TTIP includes; upholding and promoting human rights, governing in a transparent manner that can hold to account individuals in authority and also has markets that can be open to free and reasonable competition and is well-regulated market areas. TTIP also protects the people and the planet through their international rules. For example, the rules look at everyone's health, their condition at workplaces, the endangered species around them and the entire environment. There are also challenges that have come out from TTIP in the field of politics and economics, poor labor standards, workers' rights and security of their workplaces, democracy, and state authority. Foreign shareholder protection, public health and the environment as a whole, health care, consumer safety and food security, climate change and environment protection, banking regulation and privacy and many others. Some competitors challenge the TTIP on slowness in services than in goods leading to difficulty in opening markets in service areas.
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Prete, Filemona. "The Italian Legal Framework of Agricultural Land Succession and Acquisition by Legal Persons." Journal of Agricultural and Environmental Law = Agrár- és Környezetjog 17, no. 33 (December 22, 2022): 141–54. http://dx.doi.org/10.21029/jael.2022.33.141.
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The work outlines the Italian legal framework of agricultural land succession and of land acquisition by legal persons. The issue of the inter-generational turnover in agriculture is a fundamental issue of the political agenda of the European Union and is particularly relevant in Italy, where farms are predominantly family-owned. For this reason, intra-family succession is the preferred mechanism to transfer farm management to future generations, and it is carried out mainly through the so-called Family Pact (art. 768-bis of the Civil code) before the death of the farmer. Considering this type of transfer between generations, it is necessary to distinguish three different scenarios (that in which the agricultural holding is currently managed as a sole proprietorship farm business by one of the parents; that in which management of the agricultural holding has already been transferred to the children, but land and buildings remain the property of the parents; and that in which the holding is currently managed as an agricultural company in which the parents retain a majority interest).The single compendium, a specific legal institution aimed at preventing fragmentation of rural land, is also analyzed, as well as the consequences of the death of its owner. Succession in agricultural land and/or holdings and in agricultural contracts is also considered. With regard to succession of agricultural land and/or holdings, in case of death of the owner of agricultural land conducted or cultivated directly by him or by his family members, art. 49 of Law no. 203/1982 provides for the coercive establishment of an agricultural lease relationship, as the heir who is also a professional agricultural entrepreneur or a direct farmer becomes tenant by law (ex lege) of the land owned by the hereditary community for a period of 15 years, which corresponds to the minimum duration of leases of agricultural land established/set by art. 1 of Law no. 203/1982. At the end of said period, art. 4 of Law no. 97/1994 states that the heirs who are considered leaseholders of the portions of rural land included in the other co-heirs’ quotas, pursuant to art. 49 of Law no. 203/1982, have the right to purchase, on expiration of the coercive lease of land established by law, ownership of said portions (at the average agricultural value of the land) together with stocks, appurtenances, and annexed sheds. The last part of the work explores the rules of acquisition of land/holding by domestic and foreign legal persons. There are no limitations in Italian law on the acquisition of agricultural companies and/or agricultural holdings by foreign persons, both individuals and companies. Foreign investments or ownerships of farm property are neither supervised nor forbidden. As a result, a foreign investment is not subject to any specific government approval or consent from a public authority before the acquisition of any shares in a domestic agricultural company. However, the acquisition of a farm property may be subject to general rules related to ownership acquisition, and planning and environmental rules applicable to any other property.
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Sysoieva, I., O. Miklukha, N. Pozniakovska, О. Balaziuk, O. Miklukha, L. Akimova, and B. Pohrishchuk. "SOCIAL INNOVATIONS IN THE EDUCATIONAL SPACE AS A DRIVER OF ECONOMIC DEVELOPMENT OF MODERN SOCIETY." Financial and credit activity: problems of theory and practice 3, no. 38 (June 30, 2021): 538–48. http://dx.doi.org/10.18371/fcaptp.v3i38.237486.
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Abstract. The main provisions of the conceptualization of the introduction of social innovations in education and science, which constitute the internal content and is one of the main essential forms of economic development of modern society, are substantiated.
It has been studied that the leading countries in terms of the number of the most innovative companies in the world are industrialized countries, high-income countries, as the United Kingdom (not a member of the EU since 2020), Ireland, Cyprus. However, Bulgaria, Italy, Malta, Germany, Portugal, Slovakia, Hungary, Croatia and the Czech Republic remain the least educated countries in recent years.
There is a need for in-depth reforms of the education system and focusing on additional research missions. and business activities.
It has been proven that one of the most important and widespread elements of the architecture of innovation infrastructure in the world, which is a supply component, is higher education institutions (HEIs), and the largest number of leading universities is in the United States and the United States. Kingdom. The role of social initiatives in increasing the competitiveness of Ukrainian higher education institutions is highlighted. budget funds in the future. The normative basis for such implementation may be the EU Public Procurement Directive.
Based on a study of foreign experience in innovation, it was found that to stimulate innovation of domestic enterprises is important to improve the legislation governing issues related to innovation; improvement of innovation structure: creation of innovation centers, consulting centers, innovation banks; development of development programs and active state support of innovatively active enterprises and financial stimulation of competitiveness of Ukrainian universities and increase of motivational incentives for teachers of educational institutions.
Keywords: social sphere, innovations, innovation project, rating of world innovations, investments, sustainable development, innovations in education.
JEL Classification M41, H20, Н44, А1
Formulas: 0; fig.: 1; tabl.: 7; bibl.: 13.
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Colli, Andrea. "Multinationals and Economic Development in Italy during the Twentieth Century." Business History Review 88, no. 2 (2014): 303–27. http://dx.doi.org/10.1017/s000768051400004x.
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As a host country for foreign direct investment, conventional measures suggest that Italy is not a very attractive location. However, based upon a new database of the one hundred largest multinationals in the country, this article shows that foreign firms consistently played a crucial role in Italy's industrial activities throughout the twentieth century. A detailed analysis of investment patterns, distribution across industries, and entry modes reveals that they concentrated their investment in sectors of high technological and scale intensity, such as chemicals and pharmaceuticals, where domestic capabilities and competition remained weak during much of the period.
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Mudambi, Ram, and Pietro Navarra. "Political culture and foreign direct investment: The case of Italy." Economics of Governance 4, no. 1 (April 1, 2003): 37–56. http://dx.doi.org/10.1007/s101010100031.
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Bronzini, Raffaello. "The Effects of Extensive and Intensive Margins of FDI on Domestic Employment: Microeconomic Evidence from Italy." B.E. Journal of Economic Analysis & Policy 15, no. 4 (October 1, 2015): 2079–109. http://dx.doi.org/10.1515/bejeap-2015-0023.
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Abstract In this paper we verify whether enterprises that have started to produce abroad have reduced employment at home after the first foreign investment (extensive margin). Next, we assess whether changes in foreign employment induce changes in domestic employment for a sample of multinationals that have already established activities abroad (intensive margin). Using matching method and diff-in-diffs estimates, we find that two years after the first foreign investment domestic employment of investing firms is slightly higher than that of domestic enterprises, but mainly among those that have undertaken horizontal foreign direct investment. In multinationals that have already activated foreign operations we find a positive relationship between foreign and domestic employment. Our findings suggest that the skill composition of domestic workforce does not change neither at the extensive nor at the intensive margin of FDI.
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Roberto, Basile. "Acquisition versus greenfield investment: the location of foreign manufacturers in Italy." Regional Science and Urban Economics 34, no. 1 (January 2004): 3–25. http://dx.doi.org/10.1016/s0166-0462(02)00073-x.
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GOMÓŁKA, Krystyna. "ECONOMIC CONTACTS BETWEEN AZERBAIJAN AND THE EUROPEAN UNION." Historical and social-educational ideas 10, no. 6/2 (February 1, 2019): 53–61. http://dx.doi.org/10.17748/2075-9908-2018-10-6/2-53-61.
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After regaining independence in the early 1990s, the Republic of Azerbaijan signed many international agreements. It also established relations with the European Union. Economic contacts between the partners were revived by the partnership and cooperation agreement’s entry into force in 1999. It assumed political dialogue, assistance in building democracy, cooperation in the sphere of economy and investment. In terms of trade in goods and services, the country have granted each other most-favored-nation clauses in the collection of customs duties and charges, transit clearance, composition and transhipment of goods, payment transfers for purchased goods and services. This has led to increased trade between the European Union and Azerbaijan. The most important trade partners of Azerbaijan in the years 2000-2017 were the following members of the European Union: Italy, France and Germany. The exports were dominated by Germany, France, Italy, the United Kingdom and Spain. The opening of the oil and gas sector to foreign companies has contributed to a significant inflow of foreign direct investment. More than 80% of the incoming investment is in the oil sector and the main activities are focused the construction of new gas and oil pipelines. The leading investors in this group in the years 2000-2013 were the United Kingdom, the Netherlands, Germany, Italy, France and Cyprus.
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Herzer, Dierk. "The causal relationship between domestic and outward foreign investment: evidence for Italy." Applied Financial Economics Letters 4, no. 5 (September 26, 2008): 307–10. http://dx.doi.org/10.1080/17446540701720634.
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Tatuzov, Viktor Yu. "Foreign Direct Investment and Industrial Policy (Based on Examples of Certain Countries)." Economic Strategies 160, no. 5 (October 20, 2022): 6–11. http://dx.doi.org/10.33917/es-5.185.2022.6-11.
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The goal of the study is an attempt to rethink the role of Foreign Direct Investment, Industrial Policy and others phenomenon. The author propose a new analysis of them in today’s conditions and circumstances. This article uses statistics published by OECD and IMF. The article pays particular attention to different approaches of certain countries (USSR, Russia, Italy, South Korea) in the field of import of Foreign Direct Investment and in the field of the Industrial Policy. Based on many years of the author’s experience in the Russian banking sphere and Russian business, the author puts forward certain economic advice to regulators in Russia.
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Incerpi, Andrea, Barbara Pistoresi, and Alberto Rinaldi. "Finance and Development in Italy, 1870-1913." International Journal of Economics and Finance 12, no. 9 (August 25, 2020): 95. http://dx.doi.org/10.5539/ijef.v12n9p95.
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This paper analyses the impact of different sources of financing (foreign capital, migrants’ remittances, and domestic banks intermediation) on Italy’s economic development between 1861 and the World War I. Existing literature has analysed the role of these channels of financial intermediation separately, while this paper for the first time considers them in conjunction. Using IRF from a Cholesky identification structure of a VAR model and relying on an original dataset that combines the most recent series of several financial and economic aggregates, this paper shows that investment in Italy was fuelled by a plurality of sources of funding. A crucial role was played by national saving mobilized by domestic banks and also remittances had a significant impact. Our evidence is instead weaker for foreign capital.
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Ševela, Marcel. "Foreign Direct Investment Stock and Business Cycle Synchronization: the Case of Central European Economies." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 64, no. 6 (2016): 2117–22. http://dx.doi.org/10.11118/actaun201664062117.
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The business cycle synchronization was widely discussed before the last economic crisis and now the interest in this topic revives. The majority of literature about business cycle synchronization evaluates the role of mutual trade and similarities among the economies, while the investment links, mainly foreign direct investment flows and stocks are very often completely ignored or at least marginalized. The paper aims to discuss and then estimate the importance of continually increasing stock of foreign direct investment in synchronization of business cycles. It focuses to selected Central European economies after economic transition and their business cycle co-movements with their most important trade partners – France, Germany and Italy. The extent of trade flows, industrial structure similarity and selected trade environment variables are used to extend the standardly employed regression formula.
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Mardas, Dimitri, George Papachristou, and Nikos C. Varsakelis. "Public Procurement and Foreign Direct Investment Across France, Germany, Italy and the UK." Atlantic Economic Journal 36, no. 2 (January 25, 2008): 183–93. http://dx.doi.org/10.1007/s11293-007-9105-7.
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Moraldo, Sandro M. "Sprachenwahl im Tourismus: Italienisch." Sociolinguistica 32, no. 1 (November 1, 2018): 57–68. http://dx.doi.org/10.1515/soci-2018-0006.
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Abstract Tourism is the leading economy of the 21st century also for Italy. The language could also benefit from it, which statistically performs very well in many areas (on the world stage, on the internet, in foreign language learning, etc.). Unfortunately, the country’s tourist-economic importance does not correlate positively with its language value. Here, the Italian state is asked to do more with investment for the ‚visibility’ of the language in the tourism sector, e.g. with the opening of foreign ENIT headquarters.
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Raynkhardt, R. O. "“Italy System” as a Case of Innovative Economic Diplomacy." MGIMO Review of International Relations, no. 6(45) (December 28, 2015): 165–73. http://dx.doi.org/10.24833/2071-8160-2015-6-45-165-173.
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The article deals with the description and analysis of functioning of the Italian national system of economic diplomacy.The author provides an insight into the historical and economic background and conditions of its development from the earliest stages to present time focusing on the latest events (from 2010 onwards).He casts light upon the procedures and mechanisms of interaction between the key national economic-diplomatic agents i.e. ministry of foreign affairs, ministry of economic development, export-promotion agency ITA, investment-attraction agency Invitalia, other authorized bodies (in particular, the Coordination Council on the Internationalization of the Italian Economy - CRII), public and private institutes. The article outlines the main principles of the new system of foreign economic policy "Sistema Paese" which is being implemented since 2011. This concept is based upon efficient cooperation ("team play") between the chief institutes of economic diplomacy with a system approach to elaboration and realizing measures aimed at the internationalization of the Italian business. Innovative elements of "Sistema Paese" do not just imply another reorganization of the MFA, but a completely new approach to issues concerning the position of Italy on the world arena. The author looks into concrete mechanisms of economic diplomacy which basically include measures of national export promotion and assistance to Italian companies in the course of new markets penetration, as well as measures on attraction of foreign direct investment inter alia from developing countries. He mentions that subnational regions of Italy, especially Friuli-Venezia Giulia, Veneto and Sicily, tend to be more and more involved into processes of FDI attraction. Another important trend and particular feature of Italy's modern economic diplomacy is the practice of decentralization of financial management within the MFA system through providing the heads of diplomatic representations with specific competences in this area. Finally, a special emphasis is put on the tight link between instruments of "soft power" and economic diplomacy and their institutional usage, which has deep historical roots.
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Sicurelli, Daniela. "Italian cooperation with Mozambique: explaining the emergence and consolidation of a normative power." Italian Political Science Review/Rivista Italiana di Scienza Politica 50, no. 2 (December 2, 2019): 254–70. http://dx.doi.org/10.1017/ipo.2019.38.
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AbstractItaly has developed a long-dated partnership with Mozambique, where it has emerged as an actor committed to norm promotion in the fields of conflict management, debt relief, and sustainable energy cooperation. This paper challenges the dominant interpretation of such a cooperative relationship that emphasizes ideational motivations and focuses, instead, on the role of Italian investors in the sectors of infrastructure and energy and of the Italian economic diplomacy. A favorable institutional and political climate in Italy has channeled investors' demands in the policy process since the independence of Mozambique. The late institutionalization of Italian development policy, the long gestation of the reform of development policy, and the lack of clear-cut borders between the competences of foreign and development cooperation institutions have empowered business groups that shape the investment strategy of the Italian foreign ministry as actors in development policy-making. Finally, convergence of interests between Italian investors and the NGO Sant'Egidio, which ultimately led to a partnership between these actors, has increased the legitimacy of Italian foreign and development policy toward Mozambique, contributing to consolidating Italy as a norm promoter in the country.
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Sukhadolets, Tatyana, Elena Stupnikova, Natalia Fomenko, Nadezhda Kapustina, and Yuri Kuznetsov. "Foreign Direct Investment (FDI), Investment in Construction and Poverty in Economic Crises (Denmark, Italy, Germany, Romania, China, India and Russia)." Economies 9, no. 4 (October 12, 2021): 152. http://dx.doi.org/10.3390/economies9040152.
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This study aims to examine the impact of foreign direct investment (FDI), investment in construction and poverty in various countries. The Russian Federation invests heavily in construction and it is located both in Europe and Asia. Russia is usually described as a European country (while 70% of its territory is in Northern Asia, 80% of the population resides in Europe). That is why in this document both developed and emerging countries are considered; the former are represented by the EU members of different economic levels and the latter by BRICS countries. We looked at economically different countries to determine the best differentiated data in order to answer the question: “Why does a high level of poverty persist in Russia if Russian officials have repeatedly reaffirmed their commitment to the implementation of the Sustainable Development Goals (SDGs) by investing heavily in construction and attracting FDI?”. For the estimation, we used an autoregressive distributed lag (ARDL), considering cointegration and heteroscedasticity, in which the current values of the series depend both on the past values of this series and on the current and past values of other time series. Having received statistical data, we were able to compare the economic development of countries with some economic growth theories. 4–5% FDI share of the GDP helps to contain the negative impact of financial crises. Investment in construction supports the economies of countries in the long term and maintains or reduces the poverty level by increasing the assets of the population. Empirical data also helped us to evaluate the economic growth patterns and poverty in these seven countries. China and the Russian Federation will find themselves at different “poles”. China uses several theories and models simultaneously for economic development and poverty reduction and the Russian Federation does not keep to an established theory or a model of economic growth.