The group is interdisciplinary, representing a range of economic specialties (including microeconomics, macroeconomics, monetary policy, international economics, international business, industrial economics, innovation, institutions, development, sustainability, econometrics, entrepreneurship, trade), and share a common perspective in both the framing of economics-related problems and the analysis of economics-driven phenomena with the ultimate aim to draw implications for the economic social welfare. Its members address the issues related to the globalization of economies and firms, the functioning of institutions, industries and markets and their impact on the society, the role of public policies in the economy. A synthesis of the activities is presented below.
In the recent past we have witnessed deep changes in the modalities and characteristics of the international integration of countries and firms, with important consequences for the relations between countries, internally to the countries themselves and for firms’ behavior. Economic policies and existing institutions have proved only partially adequate to manage the globalization of the 21st century, and should be rethought in the light of the new international scenario. The research field of this group addresses these issues both theoretically and empirically.
The group emphasizes the importance to analyse the economic rationales behind business decisions: in this vein, microeconomics, industrial economics, theory of the firm and behavioral economics are used to study entrepreneurship and firm growth strategies, including innovation activities, internationalization choices, inter-firm cooperation and integration decisions.
We explore local and multinational enterprises as organizations embedded in a context formed by economic, social, technological, political and institutional factors, which collectively affect the operations of business. As we study firms’ decision making and their strategic interacting on the markets, we constantly investigate the influence of both external forces and formal and informal institutions at national and international level on business. In doing so, we focus on industrial and institutional dynamics, economic geography and global integration, as well as on regulation, industrial and innovation policy. We reserve attention to the multifaceted linkages between business enterprises, public players, third sector organizations and perform evaluation studies on the impact of different policy measures.
The group deems business investment in productive capacity, new technologies and infrastructure as the chief engine of economic growth. At the same time, we aim at understanding the effects of firm operations on society and the environment. Special attention is reserved to the role played by business players in the development of lower income countries, by investigating sustainable innovations for the efficient use of resources and environment conservation.
While the Group makes use of many different research methods, its members privilege the development of theoretical frameworks and the use of econometric methods for the analysis. Members contribute to develop and maintain datasets on the different research topics of interest, and to build specific indicators for the analysis of problems.