The geography of acquisitions and greenfield investments: firm heterogeneity and regional institutional conditions

This paper investigates how institutional conditions at national and regional levels shape the decisions of Multinational Enterprises (MNEs) to invest abroad by means of either acquisitions or greenfield investments. The empirical analysis covers all Foreign Direct Investment (FDI) projects in the European Union by the largest MNEs in the world to study alternative choices by the same firm and account for firm-level characteristics in investment decisions. The empirical results show that - other things being equal - regions with stronger investment eco-systems are more likely to attract acquisitions, while greenfield investments are more likely in regions with comparatively weaker systemic conditions. Howerver, the regional quality of institutions makes a fundamental difference to the nature of the investment projects attracted by regions: those with high quality of government can attract greenfield investments undertaken by the most productive MNEs. By improving their quality of government, local and regional policy makers can attract higher quality greenfield investment projects to their constituencies, potentially breaking the vicious circle between low productivity areas and low productivity FDI

Within‐city roads and urban growth

In this paper we study the role of within-city roads layout in fostering city growth. Within-city roads networks have not been studied extensively in economics although they are essential to facilitate human interactions, which are at the core of agglomeration economies. We build and compute several simple measures of roads network and construct a sample of over 1800 cities and towns from Sub-Saharan Africa. Using a simple econometric model and two instrumental variable strategies based on the history of African cities, we then estimate the causal impact of within-city roads layout on urban growth. We find that over the recent decades, cities with greater road density and road evenness in the centre grew faster

From the historical Roman road network to modern infrastructure in Italy

The road system built during the Roman Empire continues to have a significant impact on modern infrastructure in Italy. This paper examines the historical influence of Roman roads on the development of Italy's motorways and railways. The empirical analysis demonstrates how modern Italian transport infrastructure largely follows the path of the consular trajectories established by the network of Roman roads. These ancient roads, being paved and connecting the extremes of the Italian peninsula, have endured over time, serving as the foundational physical capital for the development of the current transport network. Overall, this research highlights the enduring legacy of the Roman road system and the robustness of Roman roads as an instrument in determining the causal effect of modern infrastructure

Scientific approaches to technological officiating aids in game sports

An increasing number of sports use, what we call, technological umpiring aids to support their umpires and referees respectively. In order to create a basis for further investigations, the aim of this review is to survey the respective literature to extract universal issues of these aids, which are used in different ways in a wide range of settings. Therefore we identified 23 studies, of which the majority was published in the current decade. These studies also embraced, beside empirical works, contributions of the fields of philosophy and jurisprudence. Based on the approaches and findings of the selected studies we identified seven major issues: the underlying phenomena, usage patterns, accuracy, standard of review, influence on the nature of the game, material as well as immaterial costs and the amount of authority that is granted to the umpiring aid. Further, we found regularly some overlapping between these issues, but also that some matters of interest haven’t even been touched so far, for example studying the influence of technological umpiring aids on stakeholders’ opinions. Empirical as well as theoretical evaluations of technological umpiring aids have to deal with this complexity. As this seems to be neglected currently, we suggest that further studies should show awareness of this in their approaches as well as in their conclusions.&nbsp

International trade and Covid-19:City-level evidence from China's lockdown policy

This paper examines the impact of Covid-19 lockdowns on exports by Chinese cities. We use city-level export data at a monthly frequency from January 2018 through April 2020. Differences-in-differences estimates suggest cities in lockdown experienced a ceteris paribus 34 percentage points reduction in the year-on-year growth rate of exports. The lockdown impacted the intensive and extensive margin, with higher exit and lower new entry into foreign markets. The drop in exports was smaller in (i) coastal cities; (ii) cities with better-developed ICT infrastructure; and (iii) cities with a larger share of potential teleworkers. Time-sensitive and differentiated goods experienced a more pronounced decline in export growth. Global supply chain characteristics matter, with more upstream products and industries that had accumulated larger inventories experiencing a smaller decline in export growth. Also, products that relied more on imported (domestic) intermediates experienced a sharper (flatter) slowdown in export growth. The rapid recovery in cities' exports after lockdowns were lifted suggests the policy was cost-effective in terms of its effects on trade

The non-codified use of problem structuring methods and the need for a generic constitutive definition

This is the author accepted manuscript. The final version is available from the publisher via the DOI in this record.When we use a PSM what is it we are actually doing? An answer to this question would enable the PSM community to considerably enlarge the available source of case studies by the inclusion of examples of non-codified PSM use. We start from Checkland's own proposal for a "constitutive definition" of SSM, which originated from trying to answer the question of knowing when a claim of SSM use was legitimate. By extending this idea to a generic constitutive definition for all PSMs leads us to propose a self-consistent labelling schema for observed phenomena arising from PSMs in action. This consists of a set of testable propositions, which, through observation of putative PSM use, can be used to assess validity of claims of PSM use. Such evidential support for the propositions as may be found in putative PSM use can then make it back into a broader axiomatic formulation of PSMs through the use of a set-Theoretic approach, which enables our method to scale to large data sets. The theoretical underpinning to our work is in causal realism and middle range theory. We illustrate our approach through the analysis of three case studies drawn from engineering organisations, a rich source of possible non-codified PSM use. The combination of a method for judging cases of non-codified PSM use, sound theoretical underpinning, and scalability to large data sets, we believe leads to a demystification of PSMs and should encourage their wider use. © 2014 Elsevier B.V. All rights reserved

Efficiency in education

Education is important at national, local and individual levels. Its benefits accrue both to society and to individuals, and as such provision of education in many countries is paid for at least in part from the public purse. With competing demands for government funding, it is important for education to be provided as efficiently as possible. Efficiency occurs when outputs from education (such as test results or value added) are produced at the lowest level of resource (be that financial or, for example, the innate ability of students). This special issue is devoted to the topic of efficiency in education, and is well-timed given that governments around the world struggle with public finances in the wake of the global financial crisis of 2008. In this paper, we explore and provide an overview of the themes of the special issue and introduce the papers contained therein