Education, migration, and job satisfaction: The regional returns of human capital in the EU. Bruges European Economic Research (BEER) Papers 1/November 2004

The paper looks at the link between human capital and regional economic performance in the EU. Using indicators of educational stock, the matching of educational supply and labour demand, and migration extracted from the European Community Household Panel (ECHP), it identifies that the economic performance of European regions over the last few years is generally associated with differences in human capital endowment. However, and in contrast to previous studies, the results highlight that factors such as the matching of educational supply and local labour needs, job satisfaction, and migration may have a stronger connection to economic performance than the traditional measures of educational stock.

The Business Models and Economics of Peer-to-Peer lending. ECRI Research Report No 17, May 2016

This paper reviews peer-to-peer (P2P) lending, its development in the UK and other countries, and assesses the business and economic policy issues surrounding this new form of intermediation. P2P platform technology allows direct matching of borrowers’ and lenders’ diversification over a large number of borrowers without the loans having to be held on an intermediary balance sheet. P2P lending has developed rapidly in both the US and the UK, but it still represents a small fraction, less than 1%, of the stock of bank lending. In the UK – but not elsewhere – it is an important source of loans for smaller companies. We argue that P2P lending is fundamentally complementary to, and not competitive with, conventional banking. We therefore expect banks to adapt to the emergence of P2P lending, either by cooperating closely with third-party P2P lending platforms or offering their own proprietary platforms. We also argue that the full development of the sector requires much further work addressing the risks and business and regulatory issues in P2P lending, including risk communication, orderly resolution of platform failure, control of liquidity risks and minimisation of fraud, security and operational risks. This will depend on developing reliable business processes, the promotion to the full extent possible of transparency and standardisation and appropriate regulation that serves the needs of customers.

Confidentiala "Mode 3" Systems Approach for Knowledge Creation, Diffusion and Use: Towards a 21st Century Fractal Innovation Ecosystem. ACES Working Paper (Report) No. 4, 2007

"Mode 3" allows and emphasizes the co-existence and co-evolution of different knowledge and innovation paradigms: the competitiveness and superiority of a knowledge system is highly determined by its adaptive capacity to combine and integrate different knowledge and innovation modes via co-evolution, co-specialization and coopetition [sic] of knowledge stock and flow dynamics. What results is an emerging fractal knowledge and innovation ecosystem, well-configured for the knowledge economy and society. The intrinsic litmus test of the capacity of such an ecosystem to survive and prosper in the context of continually glocalizing [sic] and intensifying competition represents the ultimate competitiveness benchmark with regards to the robustness and quality of the ecosystem's knowledge and innovation architecture and topology.