The Essays in International Trade and Finance

The first chapter provides the first evidence on the gross capital flows reactions to the financial sector reform. I establish four new stylized facts. First, the reform is associated with an average increase of 0.03pp in both gross capital flows. Second, immediately after the reform both flows decrease, in the long term they stabilize at a higher than the pre-liberalization levels. Third, the short term dynamics is governed by debt flows, while the long term dynamics are driven by all of the components. Finally, only a complex reform leads to a positive effect. The results are robust to a wide range of robustness checks. In the second chapter we develop a novel theory to explain the recent phenomenon of reshoring, i.e. firms moving back their previously offshored business activities. We firstly provide the evidence for the importance of the quality behind the reshoring decision and then, building on Antoniades (2015) we develop a dynamic heterogeneous firms model with quality choice and offshoring. In the dynamic setting the location decision entails a tradeoff between payroll and quality-related costs. In equilibrium reshoring arises as some firms initially offshore, exploit the increase in profits due to lower wages and finally return to the domestic country in order to further increase the quality. The third chapter provides the new evidence suggesting that selling through global production networks might lead to export upgrade. I relate the sector-level GVCs participation indicators derived from the international Input-Output Tables to the data on the unit values of exports at the product-exporter level. We find a strong association between the export prices and forward participation, in particular for the developing countries. We document also a less robust negative relationship between the GVCs backward participation and unit values of exports.

An Input-Process-Output Approach to Interorganizational Teams: The Influence of Work Group Diversity, Trust and Shared Leadership on Communication Network and Team Outputs.

The market’s challenges bring firms to collaborate with other organizations in order to create Joint Ventures, Alliances and Consortia that are defined as “Interorganizational Networks” (IONs) (Provan, Fish and Sydow; 2007). Some of these IONs are managed through a shared partecipant governance (Provan and Kenis, 2008): a team composed by entrepreneurs and/or directors of each firm of an ION. The research is focused on these kind of management teams and it is based on an input-process-output model: some input variables (work group’s diversity, intra-team's friendship network density) have a direct influence on the process (team identification, shared leadership, interorganizational trust, team trust and intra-team's communication network density), which influence some team outputs, individual innovation behaviors and team effectiveness (team performance, work group satisfaction and ION affective commitment). Data was collected on a sample of 101 entrepreneurs grouped in 28 ION’s government teams and the research hypotheses are tested trough the path analysis and the multilevel models. As expected trust in team and shared leadership are positively and directly related to team effectiveness while team identification and interorganizational trust are indirectly related to the team outputs. The friendship network density among the team’s members has got positive effects on the trust in team and on the communication network density, and also, through the communication network density it improves the level of the teammates ION affective commitment. The shared leadership and its effects on the team effectiveness are fostered from higher level of team identification and weakened from higher level of work group diversity, specifically gender diversity. Finally, the communication network density and shared leadership at the individual level are related to the frequency of individual innovative behaviors. The dissertation’s results give a wider and more precise indication about the management of interfirm network through “shared” form of governance.

Peak-to-Peak Output Current Ripple Analysis in Multiphase and Multilevel Inverters

Analysis of the peak-to-peak output current ripple amplitude for multiphase and multilevel inverters is presented in this PhD thesis. The current ripple is calculated on the basis of the alternating voltage component, and peak-to-peak value is defined by the current slopes and application times of the voltage levels in a switching period. Detailed analytical expressions of peak-to-peak current ripple distribution over a fundamental period are given as function of the modulation index. For all the cases, reference is made to centered and symmetrical switching patterns, generated either by carrier-based or space vector PWM. Starting from the definition and the analysis of the output current ripple in three-phase two-level inverters, the theoretical developments have been extended to the case of multiphase inverters, with emphasis on the five- and seven-phase inverters. The instantaneous current ripple is introduced for a generic balanced multiphase loads consisting of series RL impedance and ac back emf (RLE). Simplified and effective expressions to account for the maximum of the output current ripple have been defined. The peak-to-peak current ripple diagrams are presented and discussed. The analysis of the output current ripple has been extended also to multilevel inverters, specifically three-phase three-level inverters. Also in this case, the current ripple analysis is carried out for a balanced three-phase system consisting of series RL impedance and ac back emf (RLE), representing both motor loads and grid-connected applications. The peak-to-peak current ripple diagrams are presented and discussed. In addition, simulation and experimental results are carried out to prove the validity of the analytical developments in all the cases. The cases with different phase numbers and with different number of levels are compared among them, and some useful conclusions have been pointed out. Furthermore, some application examples are given.

Robust Nonlinear Output Regulation by Identification Tools

The present thesis focuses on the problem of robust output regulation for minimum phase nonlinear systems by means of identification techniques. Given a controlled plant and an exosystem (an autonomous system that generates eventual references or disturbances), the control goal is to design a proper regulator able to process the only measure available, i.e the error/output variable, in order to make it asymptotically vanishing. In this context, such a regulator can be designed following the well known “internal model principle” that states how it is possible to achieve the regulation objective by embedding a replica of the exosystem model in the controller structure. The main problem shows up when the exosystem model is affected by parametric or structural uncertainties, in this case, it is not possible to reproduce the exact behavior of the exogenous system in the regulator and then, it is not possible to achieve the control goal. In this work, the idea is to find a solution to the problem trying to develop a general framework in which coexist both a standard regulator and an estimator able to guarantee (when possible) the best estimate of all uncertainties present in the exosystem in order to give “robustness” to the overall control loop.