Affiliated researchers

Marco Pagano


Some questions that Marco Pagano tries to answer in his research:

  • How do firms and workers share risk?
  • Which factors shape the careers of workers?
  • How do relations with workers impact corporate policies?
  • How do the sovereign exposures of banks affect financial stability?
  • Would the provision of a euro-wide safe asset enhance financial stability?

New research

Local Crowding‐Out in China Yi Huang, Marco Pagano and Ugo Panizza

Marco Pagano



Marco Pagano is Professor of Finance at University of Naples Federico II and Director of the Centre for Studies in Economics and Finance (CSEF). He holds a B.A. from Cambridge University and a Ph.D. from MIT, and taught at Bocconi University and Imperial College. Most of his research is in the area of finance, chiefly banking, corporate finance and market microstructure. He has also produced research at the interface between finance and macroeconomics, law and labor economics.

Leading Research Environment

IFN at the top


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The Research Institute of Industrial Economics, IFN, is a private and independent foundation devoted to pursuing highly relevant research for trade and industry.

The researchers at IFN are united in their belief that economic methods offer a powerful tool for understanding society.

The main research programs are:

  1. economics of entrepreneurship
  2. globalization and corporate restructuring
  3. economics of the service sector
  4. economics of the electricity markets
  5. economics of institutions and culture.

Global Award

Research on entrepreneurship




The Global Award for Entrepreneurship Research is the foremost global award for research on entrepreneurship.This Prize is awarded annually with a prize sum of EUR 100,000.

IFN in cooperation with Entreprenörskapsforum and Vinnova are the principals of the award, in cooperation with the donor, Lars Backsell.

Professor Boyan Jovanovic, New York University, is the winner of the Global Award for Entrepreneurship Research 2019. 

Research Institute of Industrial Economics, Grevgatan 34 - 2 fl, Box 55665, SE-102 15 Stockholm, Sweden | Phone: +46-(0)8-665 45 00 |