Privatization in Western Europe: Stylized Facts, Outcomes, and Open Issues

Privatization has certainly been one of the main events of the economic and financial history of the 20th century. Between 1997 and 2004 more than 4,000 privatization operations were carried out in the world, bringing to governments revenues for over 1,350US$billion. Western Europe emerges as the most important region, having implemented the greatest number of privatizations and raised a half of global revenues. The relevance of Western Europe in the process can be ascribed to several factors. This paper investigates the causes of this process, summarizes the main trends of privatization activity at the country level, analyzes the main privatization drivers and provides an account of the main findings of the effects of privatization at the macro and microeconomic level

Constraining cosmic-ray acceleration in the magnetospheric gaps of Sgr A*

Sagittarius A* (Sgr A*) is a potential VHE gamma-ray and cosmic-ray source. We examine limits to gap-type particle acceleration in the magnetosphere of Sgr A*, showing that in the current phase of activity proton acceleration to PeV energies is possible, with injection powers into the environment usually limited to several 10^{36} erg/s. Compton upscattering of ambient soft photons by gap-accelerated electrons could yield TeV emission compatible with the detected VHE points source. We explore the dependency of the results on changes in the accretion rate showing that higher stages in the past are unlikely to increase the power output unless the inner accretion flows itself changed its configuration

Mountains for Europe\u2018s Future. A Strategic Research Agenda

This strategic research agenda is the product of an enthusiastic year-long collaboration between researchers based in centres of excellence, across many different disciplines and countries. Our primary goal is to highlight the importance of mountains in providing insights and solutions to many of Europe\u2019s pressing challenges. To this end, we call for the inclusion of specific call topics on mountain research within the 2018 \u2013 20 Work Programmes of Horizon 2020

Voluntary technological disclosure as an efficient knowledge management device: An empirical study

This paper investigates three questions related to endogenous information and knowledge disclosure by firms: Which industry sectors are more apt to disclose information and knowledge? Why is such knowledge released? Is knowledge disclosure an efficient strategy? An empirical analysis on four French data sets that focus on appropriation, the practices of innovation, and the related payoffs suggests answers to these questions. A firm with high R&D intensity, from a high-tech sector, participating in R&D partnerships is found to be more likely to engage in disclosure. Firms in the sample were found to 'leak' their knowledge to public laboratories to a greater degree than to other private sector firms. Leakage also was found to be associated with improved innovation performance. This research helps broaden the literature on knowledge management practices to include not only the pursuit of formal intellectual property rights such as patents but also less formal inter-organizational knowledge transmission mechanisms.Innovation, Endogenous spillovers, Cooperation, Appropriation,