Carlo Brambilla | Università degli Studi dell'Insubria (original) (raw)

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Papers by Carlo Brambilla

Business History, Jun 21, 2017

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History of Economic Ideas, 2007

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Retracing the financial revolutions that took place in continental Europe in the 19th century, th... more Retracing the financial revolutions that took place in continental Europe in the 19th century, this work focuses on investment banking patterns\u2019 comparison in France, Germany and, especially, Italy, in the long run. Besides supporting the industrialization process, in fact, major large investment banks probably represented the most important financial innovation after the establishment of issuing banks and of standardized tradable public debt. As such, they had a relevant role in building and shaping those countries\u2019 emerging financial and credit systems, giving birth to modern banking. The paper considers great banks\u2019 evolution between the 1860s and the Great War, verifying and assessing differences and similarities among them, taking into consideration the structure of single banks. Quantitative analysis shows that relevant differences emerged in the evolution of investment banking patterns in the three countries before 1914. The deepening of these differences during the period supports the hypothesis that divergence, rather than convergence, characterized investment banking patterns in continental Europe. The paper eventually tries to give reasons for such an outcome referring to institutional frameworks\u2019 peculiarities, rather than relying on classical explanations involving the permanence of economic growth differentials among countries or of different speeds in their economic convergence

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History of Economic Ideas, 2007

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Financial History Review, 2008

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From the 1980s the architecture of the Italian banking system underwent a process of reform aimed... more From the 1980s the architecture of the Italian banking system underwent a process of reform aimed at introducing higher degrees of competition among intermediaries and at enhancing their efficiency, in order to enable it to comply with the European integration process and to face the new challenges of rapidly globalizing markets. While in the 1980s the banking regulation slowly adapted to European rules and to a more liberalized contest, in the 1990s privatizations, liberalizations, and higher competition fueled concentration in the banking system. The paper studies these transformations using a dataset gathering balance sheet and loss-and-profit data, at firm level, for a wide number of banks, covering almost the entire system, between 1979 and 2000. The analysis is based on nonparametric estimation of the technology set through the DEA (Data Envelopment Analysis) and tries to determine the effects of new regulation and institutional frameworks on the efficiency of the banking system and of individual banks

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$Research paper thumbnail of Analisi di struttura-comportamento-performance: l\u2019industria pesante$

In this paper we present the first results of a study on the Italian metalwork industry, using a ... more In this paper we present the first results of a study on the Italian metalwork industry, using a new dataset gathering balance sheet and loss-and-profit data of big companies between the 1970s and the 2000s. In particular we analyse the changes in the market structure, conduct and performance of a wide number of metallurgic companies during a period in which the industry underwent a deep process of restructuring worldwide, while in Italy a thorough process of privatization was implemented by the Italian government, in the aftermath of the 1992 financial crisis

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Business History, Jun 21, 2017

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History of Economic Ideas, 2007

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History of Economic Ideas, 2007

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Financial History Review, 2008

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$Research paper thumbnail of Analisi di struttura-comportamento-performance: l\u2019industria pesante$

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Immortal banks. Strategies, structures and performances of makor banks, Nov 2016

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Convergence and Divergence of National Financial Systems: Evidence from the Gold Standards, 1871-1971, 2010

Retracing the financial revolutions that took place in continental Europe in the 19th century, th... more Retracing the financial revolutions that took place in continental Europe in the 19th century, this work focuses on investment banking patterns’ comparison in France, Germany and, especially, Italy, in the long run. Besides supporting the industrialization process, in fact, major large investment banks probably represented the most important financial innovation after the establishment of issuing banks and of standardized tradable public debt. As such, they had a relevant role in building and shaping those countries’ emerging financial and credit systems, giving birth to modern banking. The paper considers great banks’ evolution between the 1860s and the Great War, verifying and assessing differences and similarities among them, taking into consideration the structure of single banks. Quantitative analysis shows that relevant differences emerged in the evolution of investment banking patterns in the three countries before 1914. The deepening of these differences during the period supports the hypothesis that divergence, rather than convergence, characterized investment banking patterns in continental Europe. The paper eventually tries to give reasons for such an outcome referring to institutional frameworks’ peculiarities, rather than relying on classical explanations involving the permanence of economic growth differentials among countries or of different speeds in their economic convergence.

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Corporate governance in financial institutions. Historical developments and current problems, 2011

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