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Sebastiano Cattaruzzo

PhD Programme

Economics and Business 

Research group

GRIT – Grup de Recerca en Indústria i Territori 


Agustí Segarra Blasco & Mercedes Teruel Carrizosa


Sebastiano Cattaruzzo holds a double degree of BSc in Economics from Ca' Foscari University in Venice and Georgia State University in Atlanta. In Atlanta, he had the chance to do his first research internship at the Andrew Young School of Policy Studies. Then, he graduated with a MSc in Economics jointly offered by University of Pisa and Scuola Superiore Sant'Anna. The master's dissertation, supervised by Dr Alessio Moneta, applied some novel tools for causal inference to study fundamental relationships in economics of innovation. During the master's experience, together with a colleague, he gave birth to “Critical European Thinking”, a seminar series aimed at offering alternative perspectives on precise aspects of the EU. Inviting academics from different fields, at each seminar, the audience listened to a dual perspective: economics and political science. Before starting the PhD, he worked for the Strategic Planning department at Ca' Foscari University.

Project: Finance, export and innovation: behind the lenses of high-growth firms

The thesis is article-based and it analyzes three important dimensions for firms: finance, export and research and development. All of these dimensions are analyzed for the available samples of firms, but with a special attention dedicated to high-growth firms, which differ considerably in behavior compared to the average firm. In particular, we first analyze whether firms' abilities to exploit external financing depend on their growth status, and we find a robust relationship in this sense. This implies that already high-growing firms are more likely to benefit from additional financing. Secondly, we analyze the role of exporting and finance in high-growth firms. On the one hand, we look whether firms' main financials are affected by the exporting decision, and then, we look at finance, exporting (and innovation) as persistence determinants for high-growth events. Finally, in the last article, we decompose Spanish, internal aggregate R&D distribution into the contribution of the following factors: public financing, gazzelles, and financing constraints. The exercise is done also to understand whether these contributions can vary according to the different phases of economic cycle that Spain has experienced in the period 2004-2014.