This paper aims to analyse how the economic impact of wine in producing regions can be measured. It also seeks to show the relationship between wine cluster performance…
This paper aims to analyse how the economic impact of wine in producing regions can be measured. It also seeks to show the relationship between wine cluster performance and regional economic development, through the study of Rioja's recent success in both wine market and distribution of wealth.
The paper uses the input‐output analyses to estimate the economic impact of the wine cluster and its role in regional economy. The case of Rioja is taken as example of regions where wine is the driving economic force.
The paper finds that Rioja wine cluster specificities may be the cause of the recent outperformance of Riojan economy, in which the wine cluster accounts for a fifth of regional GDP. The increase in wine sales in this region is simultaneous to the spread of welfare among the local population.
The paper shows the extremely deep impact that changes in wine market may arise in wine producing regions' welfare, thus enabling wine sector's main actors to measure wine impact on regional economy.
In the last decades, many of the most talented and promising young graduates in the developed economies have joined the financial industry. Simultaneously, ill-designed…
In the last decades, many of the most talented and promising young graduates in the developed economies have joined the financial industry. Simultaneously, ill-designed incentives’ schemes have favored the development of a culture in which excessive greed, free-riders’ behavior, unreasonable appetite for risk, and short-term decision making have endangered the economy and, potentially, have laid the foundations for financial, economic, social, and environmental crises.
In this chapter, we review current challenges in the financial industry from the lens of human and social capital. We examine some of the factors that allowed unethical behavior and a short-term financial focus in the financial sector, examining how compensation and an extremely competitive culture became key elements that favored greedy and manipulative behavior and ultimately generated socially harmful human and social capital in the financial sector. Finally, we discuss the emergence of a number of game-changers (namely, Brexit, FinTech, the growing relevance of ethical standards, and the increasing participation of women and millennials in the industry) that might represent potential promotors of change and help restructure and reshape the financial industry.