You will find below a complete list of the research projects financed by the EIB Institute including a short description of the project and the research papers related to the project. Click the icons near the document references to access published books, published articles or reports and working papers. You can also access the project's website. Click an icon to access a document. You can also use Ctrl + F to search for projects or related research papers using keywords (author, project name, university or any theme).





Intellectual property rights for all the papers, articles and reports linked and/or hosted on this website shall belong to the individual authors and/or other Intellectual Property owners. All the findings, interpretations and conclusions presented in those documents should not be attributed in any manner to the European Investment Bank.






University of Stirling

University of Stirling

Division of Economics

EIBURS 2009-2012: Designing Markets for Ecosystem Services Delivery

The Eco-Delivery project will contribute to an improved understanding on the delivery of ecosystem services. The fundamental question that will be addressed is how to both effectively and efficiently increase the supply of eco-system services from private land using market-based instruments. The project concentrates on two of the most important terrestrial ecosystems in Europe: wetlands and forests.


Research papers related to "Designing Markets for Ecosystem Services Delivery"

"The impact of information provision on agglomeration bonus performance: an experimental study on local networks"

S. Banerjee, F.P. de Vries, N. Hanley, D.P. van Soest (2014)

American Journal of Agricultural Economics 96 (4): 1009-1029 - DOI: 10.1093/ajae/aau048

"Measuring the local opportunity costs of conservation: a provision point mechanism for eliciting willingness-to-accept compensation"

G. Bush, N. Hanley, M. Moro, D. Rondeau (2013)

Land Economics 89 (3): 490-513 - DOI: 10.3368/le.89.3.490

"Conservation when landowners have bargaining power: continuous conservation investments and cost uncertainty"

G. Lennox, N. Hanley, K. Gaston, M. Dallimer, S. Acs, P. Armsworth (2013)

Ecological Economics 93: 69-78 - DOI: 10.1016/j.ecolecon.2013.04.016

"Valuing improvements to coastal waters using choice experiments: an application to revisions of the EU Bathing Waters Directive"

S. Hynes, N. Hanley, D.Tinch (2013)

Marine Policy 40: 137-144 - DOI: 10.1016/j.marpol.2012.12.035

Carbon offsets

J. Shogren (2013)

In J. Shogren (ed), Encyclopedia of Energy, Natural Resource, and Environmental Economics, Volume 1: Energy, Elsevier, 6-8, Chapter 165

"How to sell ecosystem services: a guide for designing new markets"

S. Banerjee, S. Secchi, J. Fargione, S. Polasky, S. Kraft (2013)

Frontiers in Ecology and the Environment 11: 297-304 - DOI: 10.1890/120044

"The effect of risk perception on public preferences and willingness to pay for reductions in the health risks posed by toxic cyanobacterial blooms"

P. Hunter, N. Hanley, M. Czajkowski, K. Mearns, A. Tyler, L. Carvallho, G. Codd (2012)

Science of the Total Environment 1 (426): 32-44 - DOI: 10.1016/j.scitotenv.2012.02.017

"Adjusting for Cultural Differences in International Benefit Transfer"

S. Hynes, D. Norton, N. Hanley (2012)

Environmental and Resource Economics 56 (4): 499-519 - DOI: 10.1007/s10640-012-9572-4

"The costs of simplification in conservation programmes"

P. Armsworth, S. Acs, M. Dallimer, K. Gaston, N. Hanley, P. Wilson (2012)

Ecology Letters 155: 406-414 - DOI: 10.1111/j.1461-0248.2012.01747.x

"Farm-scale ecological and economic impacts of agricultural change in the uplands"

N. Hanley, S. Acs, M. Dallimer, A. Graves, J. Morris, K. Gaston, P. Armsworth (2012)

Land Use Policy 293 (3): 587-597 - DOI: 10.1016/j.landusepol.2011.10.001

"How should we incentivise private landowners to 'produce' more biodiversity?"

N. Hanley, S. Banerjee, G. Lennox, P. Armsworth (2012)

Oxford Review of Economic Policy 28 (1): 93-113 - DOI: 10.1093/oxrep/grs002

"Agglomeration bonus in small and large local networks: A laboratory examination of spatial coordination"

S. Banerjee, A.M. Kwasnica, J.S. Shortle (2012)

Ecological Economics 84: 142-152 - DOI: 10.1016/j.ecolecon.2012.09.005








Université Paris I
Panthéon Sorbonne

UMR Développement & Sociétés
Centre d'Economie de la Sorbonne

EIBURS 2011-2014: The rise of credit risk in microcredit

Project leader - Partner university: Freiburg Universität

The research aims to offer a global analysis of the main microcredit delinquency factors (such as governance, regulation, market saturation and political influence), from the perspective of supply, demand and environment. It looks into the exact nature of and interaction between identified recurrent factors in different economic, growth and market maturity contexts, with a view to building a typology of delinquency crises.


STAREBEI 2013: Designing investment funds for UNESCO sites: demand, governance and structure

This project explores and conceptualises the possibility of developing suitable new financial models for the safeguarding of cultural heritage, by first analysing how economic and cultural approaches have evolved.


Research papers related to "The rise of credit risk in microcredit"

"De gré ou de force : le microcrédit comme dispositif néolibéral"

C. Fouillet, I. Guérin, S. Morvant-Roux, J.-M. Servet (2016)

Revue Tiers Monde 225: 21-48

The crises of microcredit

I. Guérin, M. Labie, J.-M. Servet (ed) (2015)

London, Zed Books

La microfinance et ses dérives : émanciper, discipliner ou exploiter ?

I. Guérin (2015)

Paris/Marseille, Demopolis/IRD

La vraie révolution du microcrédit

J.-M. Servet (2015)

Paris, Odile Jacob

"Adding value to randomization with qualitative analysis : the case of microcredit in rural Morocco"

S. Morvant-Roux, I. Guérin, M. Roesch, J.-Y. Moisseron (2014)

World Development 56: 302-312 - DOI: 10.1016/j.worlddev.2013.03.002

"How good repayment performances can harm borrowers: evidence from the Dominican Republic"

S. Morvant-Roux, J. Afonso, D. Forcella, I. Guérin (2014)

Microfinance in Crisis Working Papers Series, 2014-1, Paris, Paris I Sorbonne University/IRD

"Loan officers and preventing overindebtedness – the case of Banco ADOPEM"

J. Afonso (2013)

MFI-Crisis Research and Policy Briefs, 2013-8

"Analysis of strategic defaults in the Moroccan microfinance sector"

S. Morvant-Roux, M. Roesch (2013)

MFI-Crisis Research and Policy Briefs, 2013-7

"Les conséquences de la crise du secteur de la microfinance au Nicaragua : éducation, professionnalisation, réglementation"

L. Gaillard (2013)

MFI-Crisis Research and Policy Briefs, 2013-6

"Origins and impact of the No Pago movement in northwest Nicaragua"

J.-M. Servet (2013)

MFI-Crisis Research and Policy Briefs, 2013-5

"The end of microfinance in Andhra Pradesh? Politics and the neoliberal model of development"

D. Picherit (2013)

MFI-Crisis Research and Policy Briefs, 2013-4

"The Janus-figure of the Microfinance credit-agent between two orders of legitimacy"

J.-Y. Moisseron, H. Malanaïne (2013)

MFI-Crisis Research and Policy Briefs, 2013-3

"Analyser les défauts stratégiques dans le secteur de la microfinance : le cas du Maroc"

S. Morvant-Roux, M. Roesch (2013)

MFI-Crisis Research and Policy Briefs, 2013-1

"Debt in Rural South India: Fragmentation, Social Regulation and Discrimination"

I. Guérin, B. D’Espallier, G. Venkatasubramanian (2013)

Journal of Development Studies 49 (9): 1155-1171 - DOI: 10.1080/00220388.2012.720365

"Dettes, protections et solidarités en Inde du Sud"

I. Guérin, M. Roesch, S. Michiels, G. Venkatasubramanian (2012)

Economies et Sociétés, Développement, Croissance et Progrès 46 : 385-412

"Les fondements d’une crise exemplaire : la microfinance indienne"

I. Guérin, M. Roesch (2012)

Techniques Financières et Développement 106: 121-134

"Les crises de la microfinance"

I. Guérin, S. Morvant-Roux, F. Mourji (2012)

Techniques Financières et Développement 106: 13-22

"Les impayés de la crise marocaine : un phénomène complexe"

S. Morvant-Roux, M. Roesch, I. Guérin (2012)

Techniques Financières et Développement 106: 107-120

"Explaining participation and repayment in microcredit schemes in rural Morocco: the role of social norms and actors"

S. Morvant-Roux, I. Guérin, M. Roesch, J.-Y. Moisseron (2012)

Microfinance in Crisis Working Papers Series, 2012-2, Paris, Paris I Sorbonne University/IRD

"Households’ over-indebtedness and the fallacy of financial education: insights from economic anthropology"

I. Guérin (2012)

Microfinance in Crisis Working Papers Series, 2012-1, Paris, Paris I Sorbonne University/IRD

"La crise du microcrédit en Andhra Pradesh (Inde)"

J.M. Servet (2011)

Revue Tiers Monde, 207 (3): 43-59 - DOI: 10.3917/rtm.207.0043



Research papers related to "Designing investment funds for UNESCO sites: demand, governance and structure"

"Designing investment funds for UNESCO sites: demand, governance and structure"

F. Cominelli (2014)

Unpublished report









Katholieke Universiteit
Leuven

Department of Economics

EIBURS 2011-2014: Analysis of investment needs in infrastructure sectors

How are transport infrastructure needs currently assessed at a European and national level? The project presents an overview of the existing assessment tools and uses an econometric approach to deal with the political acceptability, forecast and pricing issues.


EIBURS 2015-2018: How can larger organisations also be innovative organisations?
Partner university - Project leader: Scuola Superiore Sant'Anna - Click here to access the project.


Research papers related to "Analysis of investment needs in infrastructure sectors"

"Why Truck distance taxes are contagious and drive fuel taxes to the bottom?"

S. Mandell, S. Proost (2016)

Journal of Urban Economics 93: 1-17 - DOI: 10.1016/j.jue.2016.02.001

"The political economy of public transport pricing and supply decisions"

B. de Borger, S. Proost (2015)

Economics of Transportation 4 (1–2): 95-109. - DOI: 10.1016/j.ecotra.2015.05.002

"Road pricing and public transport pricing reform in Paris: Complements or substitutes?"

M. Kilani, S. Proost, S. van der Loo (2014)

Economics of Transportation 3 (2): 175-187 - DOI: 10.1016/j.ecotra.2014.04.003

"Second-best urban tolling with distributive concerns"

A. Diaz, S. Proost (2014)

Economics of Transportation 3 (4): 257-269 - DOI: 10.1016/j.ecotra.2015.05.003

"Traffic externalities in cities: The economics of speed bumps, low emission zones and city bypasses"

B. de Borger, S. Proost (2013)

Journal of Urban Economics 76: 53-70 - DOI: 10.1016/j.jue.2013.02.004









Université du Luxembourg

Faculté de droit, d'économie et de finance

EIBURS 2010-2013: Benchmarking European SME credit performance

The project focuses on analysing SMEs’ key credit performance indicators. Identifying and correctly measuring the determinants of corporate credit performance is of crucial importance for banks, investors and policymakers. This study explores default risk in private firms, listed firms and companies that are in the transition phase between private and public ownership (IPOs).


Research papers related to "Benchmarking European SME credit performance"

"Pricing default risk: The good, the bad, and the anomaly"

S. Ferreira Filipe, T. Grammatikos, D. Michala (2016)

Journal of Financial Stability 26: 190-213 - DOI: 10.1016/j.jfs.2016.07.001

"Forecasting distress in European SME portfolios"

S. Ferreira Filipe, T. Grammatikos, D. Michala (2016)

Journal of Banking & Finance 64: 112–135 - DOI: 10.1016/j.jbankfin.2015.12.007

"Are Private Equity Backed Initial Public Offerings Any Different? Timing, Information Asymmetry and Post-IPO Survival"

D. Michala (2015)

Unpublished report - DOI: 10.2139/ssrn.2559419









Universidade Técnica
de Lisboa

Department of Economics

EIBURS 2010-2013: Impact of the Packaging and Packaging Waste Directive

Local governments are generally in charge of waste management, particularly in countries with Green Dot schemes or similar extended producer responsibility systems. This leads to a need to establish a system of financial transfers between industry and local governments (mostly due to the costs involved with selective collection and sorting). Directive 94/62/EC on packaging and packaging waste forced them to address the same problem: meeting the recovery and recycling targets imposed by the new regulations.


Research papers related to "Impact of the Packaging and Packaging Waste Directive"

Recycling and Extended Producer Responsibility

R. Cunha Marques, N. Ferreira da Cruz (2015)

Farnham, Ashgate Publishing Limited

"Life cycle assessment and valuation of the packaging waste recycling system in Belgium"

S. Ferreira, S. de Jaeger, P. Simoes, M. Cabral, N. Ferreira da Cruz, R. Cunha Marques (2015)

Journal of Material Cycles and Waste Management 1: 1-11 - DOI: 10.1007/s10163-015-0383-x

"Contingent valuation method applied to waste management"

S. Ferreira, R. Cunha Marques (2015)

Resources, Conservation and Recycling 99: 111-117 - DOI: 10.1016/j.resconrec.2015.02.013

"Economic-financial analysis of the Italian packaging waste management system from a local authority's perspective"

L. Rigamonti, S. Ferreira, M. Grosso, R. Cunha Marques (2015)

Journal of Cleaner Production 87: 533-541 - DOI: 10.1016/j.jclepro.2014.10.069

"Packaging waste recycling in Europe: Is the industry paying for it?"

N. Ferreira da Cruz, S. Ferreira, M. Cabral, P. Simoes, R. Cunha Marques (2014)

Waste Management 34 (2): 298–308 - DOI: 10.1016/j.wasman.2013.10.035

"Economic viability of packaging waste recycling systems: A comparison between Belgium and Portugal"

R. Cunha Marques, N. Ferreira da Cruz, P. Simoes, S. Faria Ferreira, M. Cabral, C. Pereira, S. de Jaeger (2014)

Resources, Conservation and Recycling 85: 22–33 - DOI: 10.1016/j.resconrec.2013.12.015

"Costs and benefits of packaging waste recycling systems"

N. Ferreira da Cruz, P. Simoes, R. Cunha Marques (2014)

Resources, Conservation and Recycling 85: 1–4 - DOI: 10.1016/j.resconrec.2014.01.006

"Análise Econômica do Sistema da Reciclagem em Portugal"

N. Ferreira da Cruz, R. Cunha Marques (2014)

Engenharia Sanitária e Ambiental 19 (3): 335-344 - DOI: 10.1590/S1413-41522014019000000190

"Life cycle assessment of a packaging waste recycling system in Portugal"

S. Ferreira, M. Cabral, N. Ferreira da Cruz, P. Simoes, R.C. Marques (2014)

Waste Management 34 (9):1725–1735 - DOI: 10.1016/j.wasman.2014.05.007

"Economic and environmental impacts of the recycling system in Portugal"

S. Ferreira, M. Cabral, N. Ferreira da Cruz, R. Cunha Marques (2014)

Journal of Cleaner Production 79: 219–230 - DOI: 10.1016/j.jclepro.2014.05.026

"Assessing and exploring (in)efficiency in Portuguese recycling systems using non-parametric methods"

R. Cunha Marques, N. Ferreira da Cruz, P. Carvalho (2012)

Resources, Conservation and Recycling 67: 34–43 - DOI: 10.1016/j.resconrec.2012.07.005

"Economic cost recovery in the recycling of packaging waste: the case of Portugal"

N. Ferreira da Cruz, P. Simoes, R. Cunha Marques (2012)

Journal of Cleaner Production 37: 8–18 - DOI: 10.1016/j.jclepro.2012.05.043









Bauhaus-Universität
Weimar

Department of Construction Economics

EIBURS 2010-2013: The history of European infrastructure finance

Project leader - Partner universities: LMU Munich, Università degli Studi di Milano, Universidad de Cantabria

Financing infrastructure has always been a challenging issue in any country. The social returns of investment in roads, water, railways, or more recently telegraph or communications satellites are often apparent in the long run, but this distant horizon poses special problems for governments and private investors. Our research aims to explore the different historical paths to solving the problem of infrastructure finance in Europe, drawing upon the findings of an international and interdisciplinary research project. It intends to offer a broad overview of the main financing solutions elaborated in the Old Continent to support infrastructure from the fall of the Roman Empire up to the end of the 20th century.



Research papers related to "The history of European infrastructure finance"

Infrastructure Finance in Europe: Insights into History of Water, Transport and Telecommunication

Y. Cassis, G. de Luca, M. Florio (eds) (2016)

Oxford, Oxford University Press

"A taxonomy of infrastructure financing in Europe on the long run (12th‐18th century)"

G. de Luca, M. Lorenzini (2013)

Entreprises et Histoire 70: 10‐36 - DOI: 10.3917/eh.070.0010









Technische Universität
Dortmund

Faculty of Spatial Planning

EIBURS 2009-2012: Urban Development Funds in Europe

Project leader - Partner universities: RWTH Aachen

The Joint European Support for Sustainable Investment in City Areas (JESSICA), a policy initiative of the European Commission and the EIB, is designed to promote Urban Development Funds (UDFs), i.e. financial engineering instruments supporting investment in sustainable urban development. This project aims at providing UDFs and investors in sustainable urban development with a better understanding of the risks and opportunities associated with long-term investment in European cities.


Research papers related to "Urban Development Funds in Europe"

"Integrated quarter developments - a reasonable investment market for urban development funds?"

M. Nadler, P. Guhl (2015)

Working papers for integrated Real Estate Development, Issue No.3, Dortmund

"External benefits of private property-led development projects?"

S. Thiel, M. Nadler (2015)

Working papers for integrated Real Estate Development, Issue No.2, Dortmund

"Advantages of Multi-Level Fund Structures for Urban Development Investments"

W. Breuer, D. Brueser, B. Steininger (2014)

Working Paper 5 EIBURS RWTH Aachen Series

"The DMI Approach for Urban Development Funding"

W. Breuer, D. Brueser (2014)

Working Paper 3 EIBURS RWTH Aachen Series

"Integrated Plans for Sustainable Urban Development (IPSUD) for urban development projects in Europe"

M. Nadler (2014)

Working papers for integrated Real Estate Development, Issue No.1, Dortmund

"Failures in Urban Capital Markets and Consequences for Project Funding"

W. Breuer, D. Brueser (2013)

Working Paper 4 EIBURS RWTH Aachen Series

"Determining Indicators of Quality of Life Differences in European Cities"

W. Breuer, D. Brueser (2013)

Working Paper 1 EIBURS RWTH Aachen Series

"Loans versus Grants in the Context of Urban Development Funding"

W. Breuer (2012)

Working Paper 2 EIBURS RWTH Aachen Series










Università degli Studi
di Urbino "Carlo Bo"

Department of Economics and Quantitative Methods

EIBURS 2009-2012: Development of public e-services in Europe

The project examines how technological and organisational innovations affect the ability of public administrations to meet the actual and potential demands for new and improved services expressed by different categories of users, including citizens, communities, firms and other institutions. Digital technologies and e-services can be seen as fundamental drivers for the efficiency of public administrations, for the generation and diffusion of knowledge, and to improve the inclusion and overall performance of EU economies.


Research papers related to "Development of public e-services in Europe"

"How Advanced are Italian Regions in Terms of Public e-Services? The Construction of a Composite Indicator to Analyse Patterns of Innovation Diffusion in the Public Sector 2012"

L. Reggi, D. Arduini, M. Biagetti, A. Zanfei (2014)

Telecommunications Policy 38 (5-6): 514-529 - DOI: 10.1016/j.telpol.2013.12.005

"ICT-enabled system innovations in public services: experiences from intelligent transport systems"

K.M. Weber, B. Heller-Schuh, H. Godoe, R. Roeste (2014)

Telecommunications Policy 38 (5-6): 539-557 - DOI: 10.1016/j.telpol.2013.12.004

"The role of technology, organization and contextual factors in the development of e-Government services: an empirical analysis on Italian Local Public Administrations"

D. Arduini, M. Denni, M. Lucchese, A. Nurra, A. Zanfei (2013)

Structural Change and Economic Dynamics 27: 177-189 - DOI: 10.1016/j.strueco.2013.06.007

"Two decades of research on innovation in services: which place for public services?"

F. Djellal, F. Gallouj, I. Milles (2013)

Structural Change and Economic Dynamics 27: 98-177 - DOI: 10.1016/j.strueco.2013.06.005

"Service output and productivity: A time-based conceptual framework"

M. Savona, E. W. Steinmueller (2013)

Structural Change and Economic Dynamics 27: 118-132 - DOI: 10.1016/j.strueco.2013.06.006

"The co-evolution of ICT, skills and organizations in Public Administrations: evidence from new European country-level data"

P. Seri, A. Zanfei (2013)

Structural Change and Economic Dynamics 27: 160-176 - DOI: 10.1016/j.strueco.2013.07.003

The Role of Network Governance Models in the Design of Local eHealth Policies

V. Albano (2012)

In R. Baskerville, M. de Marco, P. Spagnoletti (eds), Designing Organisational Systems – An Interdisciplinary Discourse , Berlin, Springer Berlin Heidelberg, 319-342









Technische Universität
Munchen

Center for Entrepreneurial and Financial Studies

EIBURS 2008-2011: Infrastructure funds

The CEFS Infrastructure Finance Initiative focuses on investigating the role of infrastructure funds in financing infrastructure. This includes determining the drivers for growth in this field and the economic rationale for privately financing these investments as well as considering the returns and risk, and the need for further regulation.


Research papers related to "Infrastructure funds"

"Cash Flow Stability Versus Transparency: What do Investors Value about Listed Infrastructure Funds?"

F. Bitsch (2012)

International Finance Review 13: 199-229 - DOI: 10.1108/S1569-3767(2012)0000013010

"The risk profile of infrastructure investments - Challenging conventional wisdom"

C. Rothballer, C. Kaserer (2012)

Journal of Structured Finance 18 (2): 95-109

"Infrastructure as Hedge against Inflation – Fact or Fantasy?"

M. G. Roedel, C. Rothballer (2011)

Journal of Alternative Investments 15 (1): 110-123 - DOI: 10.3905/jai.2012.15.1.110

"Risk, Return and Cash Flow Characteristics of Infrastructure Fund Investments"

F. Bitsch, A. Buchner, C. Kaserer (2010)

EIB Papers, 15 (1): 106-136









Tilburg Universiteit

Department of Economics

EIBURS 2008-2011: Financing young innovative firms in Europe

This project investigates how finance influences the growth of entrepreneurial, innovative firms into large businesses. This leads to an understanding of how business angels support early stage development and whether their involvement helps or hinders the participation of venture capital investors.


Research papers related to "Financing young innovative firms in Europe"

"How does personal bankruptcy law affect start-ups?"

G. Cerquiero, M. Fabiana Penas (2016)

Unpublished report

"Venture capital and innovation strategies"

M. Da Rin, M. Fabiana Penas (2015)

Unpublished report

"Financing Young Innovative Firms in Europe"

M. Da Rin, M. Fabiana Penas (2012)

Conference presentation - EIBURS meeting









Università degli
Studi di Milano

Department of Economics, Management and Quantitative Methods

EIBURS 2012-2015: Cost/Benefit Analysis in the Research, Development and Innovation Sector

Governments, funding agencies and policy makers have high expectations on RDI infrastructures in the context of science and innovation policies aimed at sustaining economic growth in the long term. The construction and operation of these often large and complex RDI facilities is increasingly costly and there is competition for public support. A wide range of approaches and methods are used in different institutional settings for the selection and prioritisation of such infrastructures. Yet, a consensus on the most appropriate methodology to assess the socio‐economic long‐term impact of major RDI projects is still missing. The objective of the project is to explore the applicability of the Cost-Benefit analysis approach to this issue.

EIBURS 2010-2013: The history of European infrastructure finance

Partner university - Project leader: Bauhaus-Universität Weimar (project link here)

EIBURS 2007-2010: Public investment under budgetary constraints in new Member States

Project leader - Partner universities: CERGE EI

The fiscal condition and growth potential of new Member States of the European Union is analysed in this project. In particular, the effect of public investment, in the context of macroeconomic disequilibrium, and how to finance capital accumulation in the present and future even under conditions of mounting public sector debt.


Research papers related to "Cost/Benefit Analysis in the Research, Development and Innovation Sector"

"Cost-Benefit Analysis of the Large Hadron Collider to 2025 and Beyond"

M. Florio, S. Forte, E. Sirtori (2015)

Report - TIF-UNIMI-2015-9

"The Socio-Economic Impact of the National Hadrontherapy Centre for Cancer Treatment (CNAO): Applying a CBA Analytical Framework"

C. Pancotti, G. Battistioni, M. Genco, M.V. Livraga, P. Mella, S. Rossi, S. Vignetti (2015)

Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano, Departmental Working Papers 2015 - 2015-05

"Appraisal of Research Infrastructures: Approaches, Methods and Practical Implications"

C. Pancotti, J. Pellegrin, S. Vignetti (2014)

Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano, Departmental Working Papers 2014 - 2014-13

"Research Infrastructures in the LHC Era: A Scientiometric Approach"

S. Carrazza, A. Ferrara, S. Salini (2014)

Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano, Departmental Working Papers 2014 - 2014-12

"The Rate of Return to Investment in R&D Infrastructure: An Overview"

C. Del Bo (2014)

Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano, Departmental Working Papers 2014 - 2014-11

"The Evaluation of Research Infrastructures: a Cost-Benefit Analysis Framework"

M. Florio, E. Sirtori (2014)

Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano, Departmental Working Papers 2014 - 2014-10



Research papers related to "Public investment under budgetary constraints in new Member States"

Public Investment, Growth and Fiscal Constraints. Challenges for the EU New Member States

M. Florio (2011)

Cheltenham, Edward Elgar Publishing

"Public investment and Cost-Benefit analysis in the European Union"

M. Florio, G. Myles (2011)

Fiscal Studies: Special Issue on Cost-Benefit Analysis 32 (1): 3–9 - DOI: 10.1111/j.1475-5890.2011.00125.x

"Infrastructure and Convergence in EU: Introduction"

M. Florio (2010)

Transition Studies Review 17 (3): 471-474 - DOI: 10.1007/s11300-010-0167-x

Cost-Benefit Analysis and Incentives in Evaluation; the Structural Funds of the European Union

M. Florio (ed) (2007)

Cheltenham, Edward Elgar Publishing









Eurandom Eindhoven
Universiteit

 

EIBURS 2007-2010: Quantitative analysis and analytical methods to price securitisation deals

Securitisation deals have come into focus in recent years due to their role in the recent credit crises. The risk of a securitisation deal can be assessed by quantitative assessment, for example by modelling cash flow collections, distribution of cash flows to note holders and defaults and repayments. This project develops a novel analysis method, which is capable of considering the uncertainty in output when assigning ratings to asset-backed securities.


Research papers related to "Quantitative analysis and analytical methods to price securitisation deals"

Quantitative Assessment of Securitisation Deals

F. Campolongo, H. Jönsson, W. Schoutens (2013)

Berlin, Springer

"Quantitative Assessment of Securitisation Deals"

H. Jönsson, W. Schoutens (2010)

Eurandom Preprint Series 2010-045 - ISSN: 1389-2355

"Asset backed securities: Risks, Ratings and Quantitative Modelling"

H. Jönsson, W. Schoutens (2009)

Eurandom Report 2009-50

"New Models for Rating Asset Backed Securities"

H. Jönsson, W. Schoutens, G. van Damme (2009)

Unpublished report









Università di Venezia
Ca Foscari

Department of Economics

EIBURS 2006-2009: Financial and economic valuation of environmental impacts

The world economy can be viewed as a system of markets interacting through the exchange of inputs, goods and services, and this research investigates the price response to climate shocks. The economic impact of climate change is examined from a global perspective with a focus on the EU, not only based on the direct costs (e.g. prices) but also the social and economic effects. Further, by determining the role of biodiversity and the impact of climate change on the earth’s ecosystems this project directly relates the quality and quantity of ecosystems to human well-being and how this would change under alternative climate scenarios.

STAREBEI 2009: Study of the SOcial costs of CARBon in the context of climate change: Results from an ecosystem-servicES based perspective (SOCARBES)

This project focuses on the social costs of carbon. It explores the potential of endogenizing the social costs of carbon by focusing on how much these costs are influenced by a set of different steering forces. In particular, it evaluates the individual influence of each specific steering force, such as varied policy scenarios (mitigation and adaption) against climate change, different levels of uncertainty, alternative approaches to address the equity weighting of the social costs, as well as assuming distinct intertemporal discount rates.


Research papers related to "Financial and economic valuation of environmental impacts"

"The economic assessment of changes in ecosystem services: an application of the CGE methodology"

F. Bosello, F. Eboli, R. Parrado, P. A. L. D. Nunes, H. Ding, R. Rosa (2011)

Economia Agraria y Recursos Naturales, 11 (1): 161-190 - ISSN: 1578-0732

"A Hybrid Approach to the Valuation of Climate Change Effects on Ecosystem Services: Evidence from the European Forests"

H. Ding, S. Silvestri, A. Chiabai, P. A. L. D. Nunes (2010)

FEEM Working paper No. 50.2010

"European Forests and Carbon Sequestration Services: An Economic Assessment of Climate Change Impacts"

H. Ding, P. A. L. D. Nunes, S. S. Teelucksingh (2010)

FEEM Working Paper No. 10.2010









Università di Bologna

Department of Business

EIBURS 2011-2014: European IP regimes and their impact on technology transfer/IP finance

Project leader - Partner universities: Università Commerciale Luigi Bocconi

This project studies the transfer of knowledge and technology from universities and public research organisations (PROs) to industry in Europe. The analysis focuses on three major areas: the legal and regulatory context for technology transfer in Europe, the determinants of IP exploitation of universities and PROs, and the design and impact of financial instruments for technology transfer.

EIBURS 2006-2009: Technology assessment and acceleration of innovation

The limited availability of private funding sources to support technology transfer activities represents a major barrier to the effective commercialisation of university technologies. This project investigates a variety of instruments used to take technology from conception to commercialisation including seed funds and proof-of-concept programmes at a university level, patents, venture capital programmes and IPO management and performance.


Research papers related to "European IP regimes and their impact on technology transfer/IP finance"

"Determinants of the university technology transfer policy-mix: a cross-national analysis of gap-funding instruments"

F. Munari, E. Rasmussen, L. Toschi, E. Villani (2015)

The Journal of Technology Transfer 40: 1-29 - DOI: 10.1007/s10961-015-9448-1

"Assessing the impact of public venture capital programmes in the United Kingdom: Do regional characteristics matter?"

F. Munari, L. Toschi (2015)

Journal of Business Venturing, 30 (2): 205-226 - DOI: 10.1016/j.jbusvent.2014.07.009

"From the lab to the stock market? The characteristics and impact of university-oriented seed funds in Europe"

F. Munari, M. Pasquini, L. Toschi (2015)

Journal of Technology Transfer 40 (6): 948-975 - DOI: 10.1007/s10961-014-9385-4

"Bridging the University Funding Gap: Determinants and Consequences of University Seed Funds and Proof-of-Concept Programs in Europe"

F. Munari, M. Sobrero, L. Toschi (2015)

EIF Research & Market Analysis Working Paper 2015/27

"Supporting academic entrepreneurship: cross-country evidence in Europe"

P. Giuri, R. Grimaldi, E. Villani (2014)

Economia e Politica Industriale 4: 215-236 - DOI: 10.3280/POLI2014-004010

"What determines university patent commercialization? Empirical evidence on the role of IPR ownership"

P. Giuri, F. Munari, M. Pasquini (2013)

Industry and Innovation 20 (5): 488-502 - DOI: 10.1080/13662716.2013.824195

"The Economic Value of Patented Inventions: Thoughts and Some Open Questions"

A. Gambardella (2013)

International Journal of Industrial Organisations 31 (5): 626-633 - DOI: 10.1016/j.ijindorg.2013.02.007

"Filling the Funding Gap: University-Oriented Seed Funds in Europe"

M. Pasquini (2013)

Journal of Industrial and Business Economics 40 (4): 155-172 - DOI: 10.3280/POLI2013-004007



Research papers related to "Technology assessment and acceleration of innovation"

"Do patents affect VC financing? Empirical evidence from the nanotechnology sector"

F. Munari, L. Toschi (2015)

International Entrepreneurship and Management Journal, 11 (3): 623-644 - DOI: 10.1007/s11365-013-0295-y

"Running ahead in the nanotechnology gold rush. Strategic patenting in emerging technologies"

F. Munari, L. Toschi (2014)

Technological Forecasting and Social Change, 83: 194-207 - DOI: 10.1016/j.techfore.2013.07.002

The Economic Value of Patents: Methods and Applications

F. Munari, R. Oriani. (2011)

Cheltenham, Edward Elgar Publishing

"Do Venture Capitalists have a Bias against Investment in Academic Spin-Offs? Evidence from the Micro- and Nanotechnology Sector in the UK"

F. Munari, L. Toschi (2010)

Industrial and Corporate Change 20 (2): 397-432 - DOI: 10.1093/icc/dtq053

"IPO Performance and Strategic Management of IPRs: Evidence from the Semiconductor Industry"

S. Morricone, F. Munari, R. Oriani (2009)

Unpublished report

"Patent Commercialization Strategy and IPO Underpricing: Evidence from the US Semiconductor Industry"

S. Morricone, F. Munari, R. Oriani (2009)

Unpublished report

"How good are VCs at valuing technology? An analysis of patenting and VC investments in nanotechnology"

F. Munari, L. Toschi (2008)

Unpublished report - DOI: 10.2139/ssrn.1158467









Universidad Politécnica
de Madrid

Centre for Transport Studies
Centro de Domótica Integral – Research Centre for Smart Buildings and Energy Efficiency

EIBURS 2013-2016: ASCIMER Smart City Development

Many initiatives, referred to as Smart City projects, are being developed. However there is a lack of standardised metrics and methodologies to assess, prioritize, finance, implement, manage and replicate these kind of projects. The overall goal of this project is to develop a comprehensive framework to help public and private stakeholders make informed decisions about Smart City investment strategies and to build skills to evaluate and prioritize these kinds of projects, including solving difficulties regarding deployment and transferability.

EIBURS 2006-2009: Public-private partnerships

The project addresses two key challenges for public-private partnerships (PPPs). Firstly, the research aimed to define the most adequate traffic risk mitigation mechanism for certain PPP projects by evaluating the effect that implementing such mechanisms has on the behaviour of bidders. Secondly, the team proved that there is room for transaction cost saving while tendering PPP contracts and confirmed the strong relationship between transaction costs and public procurement procedures.

STAREBEI 2014: Understanding the key drivers for road freight transport decoupling in Europe

This research analyses the key driving forces to explain the decoupling between GDP and road freight transport growth across different EU countries in order to understand common trends and divergences among them. Decoupling is usually studied by analysing changes in the “transport intensity” ratio, which measures road transport in tonne-kilometres per unit of Gross Domestic Product (GDP) per commodity. Some countries, such as the United Kingdom, have been steadily reducing this ratio over the last few years. By looking at the policies implemented in countries such as the UK, we can draw lessons that might be applicable to new member states or countries that are not performing so well in decoupling freight transport from economic growth.

STAREBEI 2012: Road Infrastructure Design for Optimizing Sustainability

This project designs a model to calculate the optimal road infrastructure design in order to minimize the whole life-cycle cost including externalities, particularly CO2 emissions. By studying infrastructure life-cycle costs, it aims to establish sustainable practices during the early stages of project planning, paying particular attention to engineering design parameters.

STAREBEI 2011: Energy efficiency in ultra-broadband next generation access networks

The upcoming ultra-broadband networks have the potential to make a significant contribution in reducing the carbon footprint of the ICT sector. In spite of its relevance, the impact on energy consumption seems largely absent from the analysis of next generation network (NGN) deployments. The combination of the direct impact of NGNs on greenhouse gas emissions, their potential contribution to energy efficiency improvement and the risk of increase in energy prices should lead to energy being included amongst the list of choice factors in the policy and economic debate on NGNs.


Research papers related to "Smart City Development"

"Assessment Methodology for Smart City Projects: Application to the Mediterranean Region"

ASCIMER team (2017)

Unpublished report

"Smart Cities: Concepts and Challenges"

ASCIMER team (2017)

Unpublished report

"Smart Cities: Projects catalogue"

ASCIMER team (2017)

Unpublished report

"Smart Cities Projects Assessment Guidebook"

ASCIMER team (2017)

Unpublished report

"Governance and Implementation of Smart City Projects in the Mediterranean Region"

ASCIMER team (2017)

Unpublished report



Research papers related to "Public-private partnerships"

"Do PPP contracts improve road safety? The Case of Toll Concessions in Spain"

T. Rangel, J. Vassallo (2013)

Conference Paper. Transportation Research Board 92nd Annual Meeting 13-0361

"Evaluation of the effectiveness of safety-based incentives in Public Private Partnerships - Evidence from the case of Spain"

T. Rangel (2011)

Doctoral Thesis

"Colaboraciones Público Privadas: procedimientos para minimizar sus costes de transacción"

P. Gago de Santos (2011)

Doctoral Thesis

"Private Concession Contracts for toll roads in Spain: Analysis and Recommendations"

M. de los Angeles Baeza, J. Vassallo (2010)

Public Money and Management 30 (5): 299-304

"The Role of the Discount Rate in Procuring Highway Concessions under the LPVR Approach"

J. Vassallo (2010)

Transportation Research Part A: Policy and Practice 44 (10): 806-814 - DOI: 10.1016/j.tra.2010.08.001

"Transaction costs in transport public-private partnerships: Comparing procurement procedures"

A. Sánchez Soliño, P. Gago de Santos (2010)

Transport Reviews 30 (3): 389-406 - DOI: 10.1080/01441640903037941

"Innovation in public–private partnerships (PPPs): the Spanish case of highway concessions"

T. Rangel, J. Galende (2010)

Public Money and Management 30 (1): 49-54 - DOI: 10.1080/09540960903492380

"Using Public-Private Partnerships to Expand Subways: Madrid-Barajas International Airport Case Study"

A. Sánchez Soliño, J. Vassallo (2009)

Journal of Management in Engineering 25 (1): 21-28 - DOI: 10.1061/(ASCE)0742-597X

"Transaction Costs in PPP transport Infrastructure Projects: Comparing Procurement Proceedures"

A. Sánchez Soliño, P. Gago de Santos (2009)

Empirical Evidence: NonParametric Procedures

"Evaluation of Demand Risk Mitigation in PPP projects"

J. Vassallo, A. Sànchez Solino (2007)

Unpublished Report

"Subordinated Public Participation Loans for Financing Toll Highway Concessions in Spain"

J. Vassallo, A. Sánchez Soliño (2007)

Transportation Research Record : Journal of the Transportation Research Board 1996: 1-8 - DOI: 10.3141/1996-01

"Why Traffic forecasts in PPP contracts are often overestimated?"

J. Vassallo, A. Sànchez Solino (2007)

Unpublished Report

"Minimum Income Guarantee in Transportation Infrastructure Concessions in Chile"

J. Vassallo, A. Sánchez Soliño (2006)

Transportation Research Record 1960: 15-22 - DOI: 10.3141/1960-03

"Traffic Risk Mitigation in Highway Concession Projects, The Experience of Chile"

J. Vassallo (2006)

Journal of Transport Economics and Policy 40 (3): 359-381 - ISSN: 0022-5258

"Risk Sharing Law in the New Public Works, Concession Law in Spain"

J. Vassallo, J. Gallego (2005)

Transportation Research Record: Journal of the Transportation Research Board 1932: 1-8 - DOI: 10.3141/1932-01



Research papers related to "Understanding the key drivers for road freight transport decoupling in Europe"

"Comparison of road freight transport trends in Europe results of an input-output structural decomposition analysis"

A. Alises, J. Vassallo, M. Aymerich (2015)

Unpublished report

"Understanding the key drivers for road freight transport decoupling in Europe"

A. Alises, J. Vassallo, M. Aymerich (2015)

Unpublished report



Research papers related to "Road Infrastructure Design for Optimizing Sustainability"

"Road infrastructure design for optimizing sustainablity"

P. C. Bueno, J. M. Vassalo, K. Cheung (2013)

Transyt working paper research series - 2013-01




Research papers related to "Energy efficiency in ultra-broadband next generation access networks"

"How much energy will your NGN consume? A model for energy consumption in next generation access networks: The case of Spain"

R. Coomonte, C. Feijoo, S. Ramos, J.-L. Gomez-Barroso (2013)

Telecommunications Policy 37(10): 981-1003 - DOI 10.1016/j.telpol.2013.09.002








Oxford Brookes University

Oxford Institute for Sustainable Development

EIBURS 2006-2009: Social dimensions of sustainable development

Sustainable development can be linked not only to economic and environmental concerns but also has a social aspect and, since 1990, EU governments have integrated all three sustainability approaches into urban redevelopment. This project defines social sustainability and examines how and to what extent it is integrated into urban renewal projects.


Research papers related to "Social dimensions of sustainable development"

Urban Regeneration and Social Sustainability. Best practice from European cities

A. Colantonio, T. Dixon (2010)

Hoboken, Wiley-Blackwell

"Measuring Socially Sustainable Urban Regeneration in Europe"

A. Colantonio, T. Dixon, R. Ganser, J. Carpenter, A. Ngombe (2009)

Unpublished report

"Defra Strategy Unit: Input on Defining 'Social Impacts'"

A. Colantonio, T. Dixon (2009)

Unpublished report

"Traditional and Emerging Prospects in Social Sustainability"

A. Colantonio (2008)

EIBURS working paper series - 2008/02

"Urban Regeneration and Partnerships: Approaches from the EU"

J. Carpenter, M. Turro (2008)

EIBURS working paper series - 2008/01

"Socially Responsible Investment (SRI), Responsible Property Investment (RPI) and Urban Regeneration in the UK and Europe: Partnership Models and Social Impact Assessment"

T. Dixon, A. Colantonio, D. Shiers (2007)

EIBURS working paper series - 2007/02

"Social Sustainability: An Exploratory Analysis of its Definition, Assessment Methods, Metrics and Tools"

A. Colantonio (2007)

EIBURS working paper series - 2007/01









University of Warsaw

Department of Economics

EIBURS 2013-2016: Administrative capacity building in Europe

Partner university - Project leader: University of Strathclyde (project link here)









CERGE EI

 

EIBURS 2007-2010: Public investment under budgetary constraints in new Member States

Partner university - Project leader: Università degli Studi di Milano (project link here)









RWTH Aachen University

 

EIBURS 2009-2012: Urban Development Funds in Europe

Partner university - Project leader: Technische Universität Dortmund (project link here)









LMU Munich

 

EIBURS 2010-2013: The history of European infrastructure finance

Partner university - Project leader: Bauhaus-Universität Weimar (project link here)









Universidad de Cantabria

 

EIBURS 2010-2013: The history of European infrastructure finance

Partner university - Project leader: Bauhaus-Universität Weimar (project link here)









Freiburg Universität

 

EIBURS 2011-2014:The rising of credit risk in microcredit

Partner university - Project leader: Université Paris I Panthéon Sorbonne (project link here)









Universitat Jaume I
Castellon

Department of Experimental Economics

STAREBEI 2015: Multinational banking in Central Eastern and Southeastern Europe and financial stability

Foreign bank entry in emerging European markets has sped up economic convergence. The recent global financial crisis imposed severe capital and liquidity constraints on the parents of banking units/subsidiaries operating in CESEE. This has contributed to the transmission of shocks from home to host countries. This projects aims at understanding how the different behaviors of banking groups during that period affected their performance and lending behavior, and how this changed over time. Specifically it will concentrate on the health of banks, at both parent and subsidiary level.

"Cross-border banking, parents’ bank performance and subsidiaries’ credit extensions: evidence from the CESEE region"

L. Gattini, A. Zagorisiou (2016)

Conference presentation - EIB Institute Knowledge Programme Annual Meeting 2016









University of Trier

Department of Management

STAREBEI 2015: Financing of European SMEs: Patterns, Determinants and Dynamics over Time

Most empirical studies focus their investigations on the influence of one or a few factors on a single financing instrument (e.g. bank loans or venture capital). This is, however, unsatisfactory from a policy perspective aiming to design programs to promote the financing of SMEs. The different financing instruments and their determinants cannot be investigated in isolation from each other as various substitutive and complementary effects exist between them. Therefore, a more holistic and integrative perspective is needed. This research project aims to achieve this by combining multivariate data aggregation methods such as cluster and factor analysis with regression techniques. To date, this approach has been seldom used in SME financing research, where predominantly regressions are used to explain the use of a single financing instrument.

Ongoing project

"Financing of European SMEs: Patterns, Determinants and Dynamics over Time"

C. Masiak (2016)

Conference presentation - EIB Institute Knowledge Programme Annual Meeting 2016








Paris School of Economics

Department of Economics


STAREBEI 2014: Job creation in small and medium sized firms in MENA countries: the role of financial constraints

This project investigates the role of financial constraints on job creation, focusing on SMEs, in MENA countries. Small and medium sized firms are the engines of job creation in most market economies and thus are likely to play a crucial role also in Middle East and North Africa (MENA) countries. However, SMEs tend to face tighter financial constraints than larger firms. Such constraints may prove even stronger in the context of MENA countries, which are characterized by highly imperfect financial markets and weak institutions supporting contract enforcement.

"Collateral regimes and missing job creation in the MENA region"

F. Betz, F. R. Ravasan (2016)

Unpublished report









Chalmers University

Stiftelsen Institute for Management of Innovation and Technology (IMIT)

STAREBEI 2013: The economic impact of broadband speed: Comparing developing and developed countries

Few studies investigate the impact of the broadband speed to the economy. Yet it is conceived that broadband speed has a very substantial impact on the economy as it affects not only the end users (growing capacity, variety of services and apps, links to health and education, etc.) but also the producers, as speed availability affects a firm’s productivity and efficiency. This project investigates the impact of broadband speed on economic growth and analyses the differences between developed and developing countries.

"Impact of broadband speed on household income: Comparing OECD and BIC"

I. K. Rohman, E. Bohlin (2013)

Conference Paper. 24th European Regional Conference of the International Telecommunications Society









Cambridge University

Department of Land Economy

STAREBEI 2013: Impact evaluation of urban projects: how to better assess performance and sustainability?

Urban policies cover a wide range of diverse initiatives and specific aspects of this multi-faceted phenomenon have been emphasised over time by policy-makers. Issues such as climate change or waste management are gaining weight, as well as larger preoccupations encompassing health, education or crime. Specific projects aim to tackle different issues at the same time and projects such as the London Green Fund have both environmental and economic objectives. This project will focus on urban renewal initiatives that deal with economic development.

"How to assess the non-financial performance of urban loans and other Financial Instruments?"

P. Krasny, P. Tyler, B. Field (2013)

Conference presentation - STAREBEI final presentation









TU Berlin

Department of Economics

STAREBEI 2011: Demographic change and local fiscal stress: a comparative study

As the majority of Europeans currently live in urban areas, which, in turn, are the engines of economic growth, the question of how the demographic change will affect cities becomes increasingly important in the context of future socio-economic development in Europe. With this in mind, this study surveys literature on selected aspects of the impact of population ageing and the decline of urban areas as well as the influence that demographic change exerts on the financial position of municipalities through changes in municipal revenues and expenditures.

"Demographic change and local fiscal stress"

N. Batz (2013)

Unpublished report








Univerza v Ljubljani

Faculty of Economics

STAREBEI 2013: Effectiveness of Infrastructure Project Investments in Africa

A substantial fraction of the money invested into infrastructure projects may be lost due to high-level corruption and/or mismanagement of the projects caused by poor standards or low institutional capacities. Our proposed research aims to explore empirically the relationship between infrastructure project investment and the overall macroeconomic performance of African countries.

"Effectiveness of Infrastructure Project Investments in Africa"

S. Damijan, S. Bovha Padilla (2014)

Unpublished report


STAREBEI 2011: Ownership structure, corruption and performance in transition economies

The aim of this research is to study the incidence of corruption and its impact both at firm level and on the overall macroeconomic performance of transition countries.

"Impact of private incidence of corruption and firm ownership on performance of firms in Central and Eastern Europe"

S. Blagojevic, J. P. Damijan (2012)

LICOS Discussion Paper Series - Discussion Paper 310/2012









Athens University

Department of Economics


STAREBEI 2011: The role of universal service for broadband access and its financing: a fact based contribution to the debate in the European Union

There is no precise estimate of how much a widespread roll-out of broadband access would cost in terms of investment. A very important issue in the future planning of advanced technologies is that there is no certainty on the way they will evolve. This research attempts to measure the economic impact of broadband infrastructure on growth. This would give an indication of the resources that should be made available to reap the benefits of new technology.

"Competition enhancing regulation and diffusion of innovation: the case of broadband networks"

H. Gruber, P. Koutroumpis (2013)

Journal of Regulatory Economics, 43 (2): 168-195 - DOI 10.1007/s11149-012-9205-4









University of Bradford

School of Management

STAREBEI 2010: Building public e-services of the future in Africa: consolidation, development, recommendation and deployment

Recognising the potential benefits of harnessing ICT in public service delivery, almost all African countries have started to invest a sizeable share of their scarce resources in e-government programmes. Given the sheer scale of resources devoted to each programme, evaluating the extent to which the programme actually gives the desired outcomes and also underpins the overall development objective of these countries is essential. This task is especially important in Africa, as failure of such investment comes at a higher price due to the acute resource constraints sweeping the continent.

"Building public e-services of the future in Africa: consolidation, development, recommendation and deployment"

K. Asfaw Wondemu (2012)

Conference presentation - STAREBEI final presentation










Universitat Politècnica
de Catalunya

Center for Innovation in Transport

STAREBEI 2015: Intergenerational redistributive effects due to the financing formula of investments in transport infrastructure

Should intergenerational redistributive effects be considered in the decision making process of an infrastructure project? These effects, despite their importance, are not usually taken into account by public institutions. The present worry about the weight of public debt on future generations shows that there is an awareness of the problem. However, perhaps for lack of a theory and appropriate indicators, the intergenerational effects are not taken into account when assessing the viability of major projects.

"The intergenerational redistributive effects of transport infrastructure investments - Final Report"

D. Penyalver (2017)

Unpublished report

STAREBEI 2010: Evaluation of the spatial impacts of improved connectivity from urban transport investments. A GIS (Geographic Information System) application of the ICON indicator

This research reviews the ICON indicator, which evaluates the connectivity of a location to transport networks as a function of the minimum time required to reach the connection nodes of each network and the utility provided in these nodes. In the inter-urban ICON, these networks include not only roads and railways but also ports and airports.

"Evaluation of the spatial impacts of improved connectivity from urban transport investments"

H. Tapia, M. Turro (2011)

Unpublished report









IESE Universidad de Navarra

 

EIBURS 2012-2015: Measure impact beyond financial return

Impact investing has emerged as a proactive investment strategy that seeks to generate a combination of financial and social return. On the supply (of capital) side, the development of impact investing is driven by the financial sector’s desire to contribute more positively to society as well as the desire of philanthropists and foundations to make their philanthropic capital “work harder”. On the demand side, impact investing caters to the growing needs for capital of innovative solutions to societal problems such as microfinance, social entrepreneurship and sustainability-focused business models – in developing as well as developed markets. Although impact has been monitored by the social sector for decades, it is only recently that measuring impact and realizing social “returns” have been considered with the same kind of rigour dedicated to defining and calculating financial returns. The overall aim of the research project is to explore ways of measuring and expressing the (social/environmental) impact generated by an investment activity and how to integrate impact objectives into the investment decision approach of impact investors

STAREBEI 2010: Improving access to financial services for low-income population segments and small companies

This project proposes a model based on prepaid electronic payment systems and cellular technology (mobile banking) that addresses the lack of access to financial services in the vast majority of developing countries. The proposed solution assumes that the lack of access to financial services is primarily a supply problem.


Research papers related to "Improving access to financial services for low-income population segments and small companies"

"Banking the unbanked using prepaid platforms and mobile telephones (Mobile Banking)"

F. Prior Sanz (2011)

Conference presentation - STAREBEI final presentation








Imperial College London
Business School

Department of Economics

STAREBEI 2009: The Economic impact of mobile telephony on the growth of developing countries: A simultaneous approach

The study identifies the factors that affect the diffusion of new generations of mobile telecommunication technologies. Per capita income, urbanisation and Internet/broadband penetration, as well as regulation, positively affect diffusion across all generations of mobile technologies.

"Diffusion of new technology generations in mobile communications"

A. Bohlin, H. Gruber, P. Koutoumpis (2010)

Information Economics and Policy, 22 (1): 51-60 - DOI 10.1016/j.infoecopol.2009.11.001









Uniwersytet im. Adama
Mickiewcza w Poznaniu

Department of Economics

STAREBEI 2009: Investing in urban sustainable development in Poland: Risks and opportunities for urban development funds

Urban growth and decline scenarios for Poland are heavily affected by demographic prospects. A considerable decline in the population as a whole is envisaged, with a significant decrease in the working age population whilst the number of those aged over 65 will increase. Moreover, the fertility rate will remain low and the outflow of population is likely to continue (Poland is still a net emigration country). These trends need further in–depth analysis in order to anticipate the consequences of ageing and migration for urban areas and assist urban decision-makers to prevent and mitigate their destabilising impacts. The study links prevailing trends with the analysis of the growth and decline in the economic performance of Polish cities, helping local and national authorities to support investments better suited to achieve a sustainable settlement hierarchy.

Territorial diagnosis of competitiveness of urban areas in Poland

M. Meczynski, J. Gadzinski (2010)

Unpublished report









Università LUISS
Guido Carli

Department of Economics

STAREBEI 2008: Regulation and investment incentives for next generation broadband access networks

Fixed line telecommunications have experienced new challenges in recent years. The increasing deployment of new technologies and the emergence of new regulatory paradigms are two of the main factors that are leading the telecommunications industry towards what has been called an “identity crisis”. This project studies how long-term investments in the fixed-line segment can be stimulated without altering the competitive structure of the market.

Regulation and Investment Incentives for Next Generation Broadband Access Networks

M. Pietrunti (2010)

In M. Falch, J. Markendahl (eds), Promoting New Telecom Infrastructures, Cheltenham, Edward Elgar Publishing, Chapter 2









University College London

Bartlett School of Planning
QASER Lab

STAREBEI 2013: The applicability of multi-criteria analysis to the appraisal of mega-infrastructure seaport projects in major port cities

This project aims at examining the strengths and weaknesses of the application of economic appraisal techniques and their derivatives, above all Cost-Benefit Analysis (CBA), and how the employment of policy-led MultiCriteria Analysis (MCA) can better inform CBA in the context of the economic appraisal of mega infrastructure developments for major seaport cities.

STAREBEI 2012: Land value finance as a tool to diminish municipality bond risk

The recent financial turmoil and the insurance industry crisis increased the need to find new sources of insurance for municipal bonds that can be used to reduce the borrowing cost for local authorities. In this context, this study proposes a means to reduce project risk and bolster investor confidence. The Land Value Capture (LVC) approach can be considered as the basis to define a practically implementable risk-mitigation mechanism when used in conjunction with municipal bonds.

STAREBEI 2009: Transport Infrastructure Financing through Land Value Capture: Applications to Estonia

The main objective of the study is to examine how land value mechanisms related to transport investment can be used as a mechanism to finance urban transport systems. Financial investment in transport can indeed be recaptured from an increase in the value of land due to increased accessibility.


Research papers related to "The applicability of multi-criteria analysis to the appraisal of mega-infrastructure seaport projects in major port cities"

"Improving decision-making for mega transport infrastructure projects"

M. Dean, H. T. Dimitriou, J. D. J. Calderon (2015)

Conference presentation - STAREBEI final presentation



Research papers related to "Land value finance as a tool to diminish municipality bond risk"

"To Tax or not to Tax: The case of London Crossrail"

F. Medda, L. Cocconcelli (2012)

Unpublished report

"Municipal bonds and credit risk: land values back the bond issue"

L. Cocconcelli, F. Medda (2012)

Unpublished report



Research papers related to "Transport Infrastructure Financing through Land Value Capture: Applications to Estonia"

"Public Transport Cost and Housing Price: The Tallinn case study"

L. Cocconcelli, F. Medda (2010)

Unpublished report

"The Estonian Speculative Real Estate Market: The boom and bust cycle"

L. Cocconcelli, F. Medda (2010)

Unpublished report

"The Estonian Economic Conditions: A Review"

L. Cocconcelli, F. Medda (2010)

Unpublished report









Oulun Yliopisto

Department of Industrial Engineering and Management

STAREBEI 2008: Communities’ technical networks – their governance, ownership and operation

The project aims to investigate the pros and cons of different ownership and governance (O&G) models of technical networks of communities. It assesses the public and business risks of different O&G models and defines a common frame - business architecture - to these models. In addition, the project attempts to point out the weak and strong points of both market-oriented and public models of the networks, and to identify prospective business potential in operating and owning the networks.

"Organising infrastructure networks - two descriptive case studies on value creation"

M. Herrala, P. Belt, H. Haapasalo, P. Pakkala (2012)

International Journal of Services, Economics and Management 4 (2): 104-121 - DOI 10.1504/IJSEM.2012.047042

"Effect of governance models on enhancing water service delivery"

M. Herrala, H. Haapasalo (2012)

Utilities Policy 20 (1): 64-70 - DOI: 10.1016/j.jup.2011.11.005

"Governance of Finnish waterworks - A DEA comparison of selected models"

M. Herrala, H. Huotari, H. Haapasalo (2011)

Utilities Policy 20 (1): 64-70 - DOI: 10.1016/j.jup.2011.11.005

"Financial performance of Finnish technical networks"

M. Nokkala, K. Finnilä, J. Rönty, P. Leviäkangas (2011)

VTT working papers – 2011/163

"Development avenues for the Finnish water and sewage sector"

M. Herrala (2011)

PhD Thesis

"SWOT analyses of infrastructure networks’ ownership and governance models"

M. Herrala, P. Pakkala, M. Nokkala (eds.) (2011)

Research Reports in Department of Industrial Engineering and Management - 7/2011

"Ownership and governance of Finnish infrastructure networks"

P. Leviäkangas, A. Talvitie, H. Haapasalo, M. Herrala, P. Pakkala, M. Nokkala, J. Rönty, K. Finnilä (2011)

VTT working papers - 2011/777

"Value-creating networks - A conceptual model and analysis"

M. Herrala, P. Pakkala (2009)

Unpublished report

"Technical networks' ownership, governance and procurement"

M. Herrala, P. Pakkala (2009)

Unpublished report








University College Cork

School of Mathematical Sciences

STAREBEI 2008: Approximation of Heath-Jarrow-Morton interest rate models using finite-dimensional projections

The project considers a particular (2-factor) HJM model and determines its parameters using historical swap curve data. It shows that this model is in fact a NS model with an additional adjustment which keeps it arbitrage-free (but changes the yield curve in a counter-intuitive manner). In order to evaluate the impact of the adjustment it compares the HJM model with a particular NS model which is obtained by means of a new projection method so that its dynamics are as close as possible to the arbitrage-free dynamics of the HJM model. By comparing the resulting interest rate curves and interest rate derivative prices generated by the models, it concludes that the impact of the adjustment terms needed for an arbitrage-free evolution is small.

"A finite-dimensional HJM model: how important is arbitrage-free evolution?"

S. Devin, B. Hanzon, T. Ribarits (2010)

International Journal of Theoretical and Applied Finance 13 (8): 1241 - DOI 10.1142/S0219024910006182









Università degli
Studi di Verona

Department of Economics

STAREBEI 2008: Equity and access to higher education: demand for student loans in Italy – a case study

Student loans are likely to play a more prominent role in the future. This report sheds light on the determinants of demand for student loans in Italy and on the characteristics that today’s students would like student loans to have, thereby informing policymakers and financial institutions involved in the design of student loans.









Université de Nice
Sophia-Antipolis

Department of Development Economics, Monetary Economics, Financial Economics

STAREBEI 2013: Priority Investments in the Western Balkans: Analysis of medium-term needs, possible impacts and criteria for ranking in terms of efficiency and development potential

This projects aims at developing an analytical framework to support a strategic vision of the core investment needs in the Western Balkans. A criteria for the ranking of sectors is suggested and projects proposed by beneficiary countries to get Western Balkans Investment Framework support in terms of grants and loans, depending on their priority, for increasing macroeconomic efficiency and productivity.

"Investment Needs and Debt in the Western Balkans"

C. Berthomieu, M. Cingolani, A. Ri (2015)

Unpublished report

"Demand coordination in a regionally integrated area"

C. Berthomieu, M. Cingolani, A. Ri (2015)

Unpublished report

STAREBEI 2007: Financial developments in EU new member states and candidates

The project aims at evaluating the financial performance of new members and candidates to the EU, based on the monetary circuit theory.








Politecnico di Torino

Dipartimento di Sistemi di Produzione ed Economia dell'Azienda


STAREBEI 2007: Private equity, firms’ performance and structural change. Theoretical and empirical perspectives in Italy and UK

It is generally believed that private equity (PE) firms provide long-term investment capital, better corporate governance and competent advice to acquired companies, thus improving their operational efficiency and ultimately enhancing economic growth. Moreover, PE firms can exert positive signalling effects to financial markets about expected growth opportunities of supported companies. Most studies are focused on the US market. This project aims at providing a European perspective through comparisons between Italy and the UK.

"Real effects of private equity investments: Evidence from European buyouts"

G. Scellato, E. Ughetto (2013)

Journal of Business Research, 66 (12): 2642-2649 - DOI 10.1016/j.jbusres.2012.06.001









Università Commerciale
Luigi Bocconi

Center for Research on Regional Economics, Transport and Tourism
Department of Institutional Analysis and Public Management
Centre for Research on Energy and Environmental Economics and Policy

STAREBEI 2011: Built to last: development policies and socio-economic foresight in the cities of Europe

A broad comparative picture of European urban dynamics is needed in order to better understand territorial needs and evolution as well as to identify the most profitable investments, and their governance, in the long run. To this end, this research provides a better understanding of the driving forces behind urban development in Europe and tools to identify investment opportunities and risks through urban development funds.

"The impact of European cohesion policy in urban and rural regions: a regression-discontinuity approach"

M. Percoco, L. Gagliardi (2013)

Unpublished report

"Built to Last: Population Aging and Long Run Development in Metropolitan Europe"

L. Gagliardi, M. Percoco (2013)

International Journal of Global Environmental Issues 14 (1-2): 113-131 – DOI: 10.1504/IJGENVI.2015.067485

"Understanding European urban development: A review of selected issues"

L. Gagliardi, M. Percoco (2012)

Unpublished report

STAREBEI 2010: Evaluating security of energy supply in the EU: Implications for project appraisal

The objective of this research is to provide a clear quantitative and qualitative description of the implications that the security of energy supply externalities have on the EIB project cycle, in particular on the economic analysis of energy projects. The research focuses on two areas; firstly, to what extent security of supply externalities for fossil fuels (natural gas, coal, crude oil and oil products) are relevant for the project appraisal work of the EIB (citing relevant examples and justifications), and secondly, what options exist in terms of methodology to calculate the externality and their results.

"Evaluating Security of Energy Supply in the EU: Implications for project appraisal"

L. de Paoli, M. Sacco, N. Pochettino (2011)

Unpublished report

STAREBEI 2006: Financial economies of scale in the water sector: potential benefits from integrating the funding of fragmented operation

The objective of the research is to provide a comparative analysis of the existing financial schemes in the EU water supply and sanitation (WSS) sector and to learn lessons concerning the relation between patterns of risk allocation, attractiveness for private investors and remuneration of capital. In particular, we wish to verify whether the presence of an external and independent publicly owned financial institution, acting as an intermediary between capital markets and water undertakings, can assure at the same time long-term viability of the system, adequate cost recovery, and permanent conditions for attracting investors, while minimizing the final impact on water bills.

EIBURS 2010-2013: European IP regimes and their impact on technology transfer/IP finance

Partner university - Project leader: Università di Bologna (project link here)








Universität Stuttgart

Institute of Energy Economics and the Rational Use of Energy

STAREBEI 2006: Application of the ExternE/HEATCO methodology for the evaluation of projects – monetary valuation of health risks, noise and other environmental impacts

The main objective of this study is to test the applicability and usefulness of the HEATCO guidelines to concrete transport infrastructure projects that are being or have been analysed by the EIB. The results of these applications are used to analyse the practicability of the methodology, the problems associated with uncertainties and – based on these findings – to propose changes in the methodology if necessary.

"Application of the ExternE/HEATCO methodology for the evaluation of projects – monetary valuation of health risks, noise and other environmental impacts"

A. Greßmann (2008)

Unpublished report









Université de Montpellier

Faculté des Sciences Économiques


STAREBEI 2006: Economic analysis of energy projects – alternatives to discounted cash flow approach, with a particular focus on real options

The deregulation of energy markets and the extensive use of market mechanisms for protecting the environment (emissions trading and renewable energy certificates) have increased the complexity of investment decisions. The aim of this research project is to determine the manner in which the EIB could adjust its project evaluation methodology to this deregulated environment.

"Capital budgeting with an efficient yield-based method: the real rate of return technique"

O. Rousse (2008)

CREDEN: Cahiers de Recherche, 08.02.73








Scuola Superiore Sant'Anna

Institute of Management

EIBURS 2015-2018: How can larger organisations also be innovative organisations?

The aim of this project is to enhance the knowledge of how large established enterprises can better enact more radical exploration opportunities by aiming for a more encompassing approach. It can be remarked that until now, different scholars have achieved (only partial) solutions by focusing on a limited number of ‘design parameters’ (unit grouping, job design, alliances...) mostly in isolation. Considering different ingredients simultaneously may result in more effective practices.

Project leader
- Partner universities: KU Leuven, University of Groningen.

Ongoing project










University of Duisburg-Essen

Department of Economics

EIBURS 2015-2018: Demographic change in the EU

The proposed research project aims at answering the following research questions addressing fundamental societal challenges related to Long Term Care (LTC): 1) What is the future demand for LTC and its associated costs within Europe likely to be? 2) What is the impact of LTC policy reforms that have been implemented in the recent past in various EU countries and what can other EU countries learn from them? 3) What are the determinants of the demand for formal and informal LTC and how will demographic ageing affect the provision of LTC? By answering these questions, the research project will provide new insights into how to keep long term care systems affordable, fair and efficient. This challenge plays an important role in the policy debate of most EU countries as increasing public health and social care expenditures put additional pressure on already strained public finances.

Ongoing project

"Care Choices in Europe: To Each According to His Needs?"

D. Heger, T. Korfhage (2016)

Ruhr Economics Papers #649, Bochum, Dortmund, Duisburg, Essen, Germany, 2016

"Changes in Morbidity over Time - Evidence from Europe"

D. Heger, I. W.K. Kolodziej (2016)

Ruhr Economics Papers #640, Bochum, Dortmund, Duisburg, Essen, Germany, 2016

"Informal Care and the Great Recession"

J. Costa-Font, M. Karlsson, H. Øien (2015)

CINCH Series, 2015-2, Health Economics Research Center, Duisburg-Essen University








London School of Economics

Grantham Research Institute on Climate Change and the Environment

EIBURS 2014-2017: The Economic Analysis of Energy Efficiency Investments

The aim of the project is to evaluate the motivation for and the effective performance of energy efficiency subsidies and loan facilities, specifically looking at the housing sector in the UK, France and Germany. The research focuses on identifying the market failures that hamper the financing of energy efficiency projects and the policies that can address these, and assesses how loans and subsidies targeted at energy efficiency projects perform.

Ongoing project








University of Strathclyde

European Policies Research Center

EIBURS 2013-2016: Administrative capacity building in Europe

The project focuses on explaining the differences in administrative capacity for implementing Cohesion policy across the EU and further how effective administrative capacity can be built and sustained. This requires firstly defining the concept of ‘administrative capacity’ and finding appropriate indicators by which to rank it, before looking at external factors capable of improving it and what implications cohesion policies will have.

Project leader
- Partner university: University of Warsaw.

Ongoing project

"Administrative capacity and Cohesion policy: new methodological insights from Italy and Poland"

A. Smeriglio, P. Śliwowski, J. Bachtler (2015)

In N. Dotti (ed), Learning from implementation and evaluation of the EU Cohesion Policy: Lessons from a research-policy dialogue. RSA Research Network on Cohesion Policy, Brussels - ISBN 978-2-9601879-0-8

"Methodology outline"

J. Bachtler, K. Olejniczak, A. Smeriglio, P. Śliwowski (2015)

Paper presented to International Conference on Public Policy, Milan, July 2015

"Evaluating delivery of Cohesion Policy: Proposal for an analytical framework"

K. Olejniczak, J. Bachtler, A. Smeriglio, P. Śliwowski (2015)

Paper presented to International Conference on Public Policy, Milan, July 2015

"Results of the pilot case study in Sicily and Pomorskie"

A. Smeriglio, P. Śliwowski, J. Bachtler, K. Olejniczak (2015)

Working papers series, 2015-3

Literature review

A. Smeriglio, J. Bachtler, F. De Francesco, K. Olejniczak, R. Thomson, P. Śliwowski (2015)

Working papers series, 2015-1









University of Groningen

Faculty of Economics and Business

EIBURS 2012-2015: Financial Literacy

Five projects form the backbone of the Financial Literacy Programme: 1) the creation of the Financial Literacy Programme Website, 2) the extension of the international comparison of financial literacy, building upon the 2011 report: “Financial Literacy around the World (FLAT World), 3) exploring gender differences in financial literacy, 4) determining the successes in financial literacy and 5) discovering the financial literacy of the young.

Ongoing project

"Attitudes Toward Debt and Debt Behavior"

J. Almenberg, A. Lusardi, J. Säve-Söderberg, R. Vestman (2016)

Unpublished report

"Culture, Financial Literacy and Self-Control"

M. Brown, C. Henchoz, T. Spycher (2016)

Unpublished report

"Accounting, Finance Literacy and Self-employment: an Explanatory Study"

M. Trombetta (2016)

Unpublished report

"Understanding What Works: Case studies in Financial Education"

M. Avery, C. de Bassa Scheresberg, F. Guiso (2016)

Unpublished report

"Financial Literacy among High School Students in the US: Evidence from the 2012 PISA data"

A. Lusardi, A. Lopez (2016)

Unpublished report

"Women, confidence and financial literacy"

T. Bucher-Koenen, R. Alessie, A. Lusardi, M. van Rooij (2016)

Unpublished report

"Gender Differences in Financial literacy: Evidence from PISA Data in Italy"

L. Bottazzi, A. Lusardi (2016)

Unpublished report

"Financial literacy of Dutch children: Does education matter?"

A. van der Schors, T. Madern, R. Alessie, M. van der Werf (2016)

Unpublished report

"How financially literate are women? An overview and new insights"

T. Bucher-Koenen, A. Lusardi, R. Alessie, M. van Rooij (2014)

Unpublished report

"Deposit Withdrawals from Distressed Commercial Banks"

M. Brown, B. Guin, S. Morkoetter (2014)

Unpublished report

"Patience, Self-Control and the Demand for Commitment: Evidence from a Large-Scale Field Experiment"

S. Alan, S. Ertac (2014)

Unpublished report

"Good Things Come to Those Who (Are Taught How to) Wait: Results from a Randomized Educational Intervention on Time Preference"

S. Alan, S. Ertac (2014)

Unpublished report

"Financial Literacy and Retirement Planning in Switzerland"

M. Brown, R. Graf (2013)

Numeracy, 6 (2): article 6 - DOI 10.5038/1936-4660.6.2.6

EIBURS 2015-2018: How can larger organisations also be innovative organisations?

Partner university - Project leader: Scuola Superiore Sant'Anna (project link here)








Università Cattolica
del Sacro Cuore

Centro Studi di Politica Economica e Monetaria (CeSPEM)

EIBURS 2016-2019: The impact of microfinance on financial and social inclusion in Europe

The MeMI project aims to provide academic insight on microfinance public policies currently enforced in the EU. The analysis will rely both on a microeconomic quantitative measurement of the social returns of such initiatives and an estimate of the externalities that come in their wake.

Ongoing project









Fundación de la Ingeniería
Civil de Galicia

STAREBEI 2017: Impact of Preventive Maintenance on Flexible Pavement Service Life

This project will contribute to understand the importance of considering the dynamic load effects on the pavement lifetime. Its results can be used to define a set of recommendations on how to evaluate different maintenance strategies by road project promoters. The tool developed in this project can also be used as an evaluation tool for projects financed by the EIB.

Ongoing project