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The public expenditure and institutional assessment (PEIA) were motivated by a number of factors. First, both the Government of Iraq (GoI) and its international development partners have recognized the critical importance of sound management of Iraq's substantial public financial resources. Both parties support the reform and modernization of public financial management (PFM), as articulated in the International Compact for Iraq (ICI). Secondly, international experience demonstrates the importance of establishing a baseline against which progress in PFM over time can be measured. This implies the need for an assessment which provides the information necessary to measure the performance of a country's PFM system. Thirdly, the devastating circumstances in Iraq during the past 5 years have made the institutional arrangements for PFM the subject of considerable uncertainty. The PEIA can help to shape and prioritize the necessary development program. The report is organized in two main parts. Volume one contains a summary of the main issues to emerge from the public expenditure and financial accountability (PEFA) assessment and a discussion of a number of specific PFM issues of current importance to Iraq, including: capital investment budgeting (CIB), oil revenue management, the Iraq financial management information system (IFMIS), public accounting and accountability, and payroll management. Volume two contains a detailed technical analysis behind the PEFA assessment.

The incentives of politicians to provide broad public goods and reduce poverty vary across countries. Even in democracies, politicians often have incentives to divert resources to political rents and private transfers that benefit a few citizens at the expense of many. These distortions can be traced to imperfections in political markets that are greater in some countries than in others. This article reviews the theory and evidence on the impact on political incentives of incomplete information for voters, the lack of credibility of political promises, and social polarization. The analysis has implications for policy and for reforms to improve public goods provision and reduce poverty.

This article sets flight capital in the context of portfolio choice, focusing on the proportion of private wealth that is held abroad. There are large regional differences in this proportion, ranging from 5 percent in South Asia to 40 percent in Africa. The authors explain cross-country differences in portfolio choice using variables that proxy differences in the risk-adjusted rate of return on capital. They apply the results to three policy issues: how the East Asian crisis affected domestic capital outflows; the effect of the International Monetary Fund-World Bank debt relief initiative for heavily indebted poor countries on capital repatriation; and why so much of Africa's private wealth is held outside the continent.

Economists seeking explanations for the global financial crisis of 1997-99 are reaching consensus that a major factor was weak financial institutions, which resulted in part from inadequate government regulations. At the same time many developing countries are struggling with an overregulated financial system-one that stifles innovation and the flow of credit to new entrepreneurs and that can stunt the growth of well-established firms. In particular, too many countries are relying excessively on capital adequacy standards, which are inefficient and sometimes counterproductive. The author argues that financial systems can be reformed successfully using a 'dynamic portfolio approach' aimed at managing the incentives and constraints that affect not only financial institutions exposure to risk but also their ability to cope with it. The article sets out general principles of financial regulation and shows how the dynamic portfolio approach can help countries deal with the special problems that arise during the transition to a more liberalized economy as well as those that arise in dealing with a financial crisis similar to the 1997 crisis in East Asia.

1.Introduzione Nel 2014, nell'ambito dell'Agenzia Europea Frontex, prese avvio l'operazione Triton, coordinata dall'Italia. Da quel momento e fino al 2018, tutte le persone soccorse in mare dovevano essere portate in salvo sulle coste italiane. Una volta arrivate sul territorio, queste persone dovevano essere messe nella condizione di potere avanzare una richiesta di asilo o di protezione internazionale. Il già esistente sistema di accoglienza dedicato alle persone richiedenti asilo (SPRAR) si basava sulla disponibilità volontaria degli enti locali e non era in grado di gestire l'elevato numero di persone in arrivo. Furono per questa ragione istituiti (art. 11 Dlgs. n.142/2015) i Centri di Accoglienza Straordinaria (CAS) sotto la diretta gestione degli Uffici Territoriali del Governo (Prefetture). I CAS erano quindi pensati come strutture temporanee ed emergenziali. Le azioni messe in atto dai CAS dovevano, innanzitutto, rispondere ai bisogni primari delle persone accolte, in termini di vitto, alloggio e assistenza sanitaria. Ma, a dispetto del loro carattere temporaneo, e alla stregua dello SPRAR, i CAS avevano l'obbligo di svolgere attività (apprendimento della lingua italiana, istruzione, formazione, inserimento nel mondo del lavoro e nel territorio, assistenza legale e psicosociale) finalizzate all'acquisizione di strumenti di base per favorire i migranti accolti nei processi di integrazione, di autonomia e di acquisizione di una cittadinanza consapevole. 1.1 I richiedenti asilo: L'accoglienza in Italia e una possibile traiettoria resiliente La maggior parte dei richiedenti asilo proveniva dall'Africa subsahariana o dall'Asia Meridionale (Afghanistan e Bangladesh e Pakistan) e aveva alle spalle un lungo viaggio di cui la traversata mortifera via mare o attraverso i Balcani o il Caucaso era solo l'ultima tappa. La durata media del viaggio dal paese di origine era di venti mesi, che si svolgevano quasi sempre al limite della soglia di sopravvivenza. È ormai ben documentato il fatto che la privazione di cibo, di ripari, l'affaticamento estremo, il senso di minaccia, i maltrattamenti ripetuti, i lutti dovuti alla perdita di persone care durante gli spostamenti sono condizioni che accomunavano tutti questi percorsi migratori. A queste, si aggiungeva, per la maggior parte di loro, un periodo di reclusione, che poteva superare l'anno, nei centri di detenzione della Libia dove le condizioni disumane, la pratica sistematica della tortura e della violenza sessuale sono state rese note e denunciate dalle principali organizzazioni internazionali, come Medici Senza Frontiere e Amnesty International (Fondazione Migrantes, 2018). Inoltre, l'alto potenziale traumatico di queste esperienze si aggiunge a vissuti altrettanto tragici legati alle circostanze di vita nel paese di partenza che aumentano la vulnerabilità dei migranti. Infatti, questi sono il più delle volte costretti a scappare da condizioni di instabilità politica, di gravi conflitti interni civili e di estrema povertà. È per quanto fin qui descritto che si può affermare che le persone in arrivo nei CAS sono portatrici di storie potenzialmente traumatiche e ad alta complessità psicosociale che richiedono un'attenzione particolare. Le pratiche d'accoglienza che vengono messe in atto nei centri devono tenere conto di tale complessità nel rispondere ai bisogni di ogni persona, sia nella dimensione psicologica sia in quella sociale. In questo modo, nel cercare di raggiungere l'obiettivo ultimo dell'integrazione dei richiedenti accolti, i progetti d'accoglienza potrebbero favorire la definizione di un loro processo di resilienza che li porti a vivere una condizione socialmente accettabile e di benessere. Il concetto di resilienza ha suscitato molto interesse in letteratura negli ultimi decenni. Un primo dato storico nell'evoluzione della teorizzazione di questo concetto (Cicchetti & Garmezy,1993) è lo spostamento dell'interesse dalla patologia e dalla vulnerabilità alla resilienza, che si può ricondurre alla diffusione di una prospettiva positiva e salutogena nella ricerca e nella pratica clinica e psicosociale (Bonanno & Diminitch, 2013; Bonanno, Westphal, & Mancini, 2011; Cicchetti, 2013; Cyrulnik & Malaguti,2015; Walsh, 2016). Negli anni il concetto di resilienza è stato indagato a partire da diversi approcci. Da alcuni autori (Costa & McRae, 1980) è stato studiato come un tratto di personalità, stabile e fisso, da altri (Wagnild & Young, 1993) come l'abilità di fronteggiare e adattarsi positivamente a eventi stressanti o avversivi. Cicchetti (2013), concettualizzando la resilienza come un processo, ha concentrato l'attenzione sui fattori che lo determinano, con particolare interesse a quelli genetici e neurali. Bonanno e Diminitch (2013) si sono, invece, concentrati su quei fattori di rischio o quelle condizioni esistenziali potenzialmente vulnerabili che possono determinare il processo e che gli autori (Bonanno et al., 2011) definiscono come eventi potenzialmente traumatici (EPT). Rutter (2012), da parte sua, ha teorizzato la resilienza come un concetto dinamico dato dalla continua interazione tra i fattori protettivi e di rischio, portando all'attenzione l'influenza ambientale. Tuttavia, sebbene l'autore (Rutter, 2012) abbia messo in luce la funzione dell'ambiente nel processo di resilienza, sono gli approcci più ecologici e sociali (Anaut, 2005; Cyrulnik, 2001; Cyrulnik & Malaguti, 2015; Malaguti, 2012; Walsh, 2016) che hanno enfatizzato e dato maggiore importanza ai fattori contestuali, sociali, familiari e relazionali nella definizione del processo di resilienza. In particolare, secondo Cyrulnik (2001), posti i fattori di protezione, il processo non può avvenire che nell'ambito di relazioni significative. Nello specifico, l'autore distingue tre elementi fondamentali che rendono conto, nell'insieme, del processo: 1- le esperienze pregresse nell'infanzia e nella storia personale dell'individuo, la qualità dei legami di attaccamento e la capacità di mentalizzazione; 2- il trauma e le sue caratteristiche (strutturali, contingenti ed emotive e sociali); 3- la possibilità di risignificare la tragedia avvenuta attraverso il sostegno affettivo e la relazione d'aiuto, descritta, genericamente come l'incontro con l'Altro. Secondo l'autore, la persona costruisce nel proprio passato, in particolar modo durante l'infanzia, attraverso il legame di attaccamento sufficientemente sicuro, le risorse e la capacità di mentalizzazione utili per affrontare e risignificare il trauma. È in questo spazio relazionale quindi che la persona forma una rappresentazione di Sé come persona amabile, capace di affidarsi e di costruire relazioni forti e significative anche in futuro. La capacità e la possibilità di costruire queste relazioni sono viste come le condizioni che possono aiutare la persona a riconoscere le risorse da attivare per superare la profonda ferita incisa dall'esperienza traumatica e per ristabilire un equilibrio nella propria esistenza. Nell'ultima fase della sua teoria l'autore specifica l'importanza di una figura che chiama tutore di sviluppo o di resilienza, le cui caratteristiche e funzioni sono approfonditamente delineate nella pubblicazione di Lighezzolo, Marchal, & Theis (2003). Secondo gli autori, il tutore di resilienza deve favorire un processo di autonomia e ri-strutturazione del sé, trasmettere sapere, fornire esempi e modelli che permettano e legittimino l'errore; non deve quindi ricoprire un ruolo insostituibile e onnipotente. Il tutore di resilienza, sia esso una persona adulta informale o una figura istituzionalizzata nel sistema di cura e presa in carico della persona, è una risorsa esterna che coadiuva nel processo di resilienza. In questo ultimo caso, la formazione e la definizione del ruolo dell'operatore nel processo di presa in carico contribuiranno alla costruzione di un efficace intervento sociale e clinico per la promozione della resilienza nell'assistito (Manciaux, 2001). Negli ultimi anni, una serie di rassegne internazionali (Agaibi & Wilson, 2005; Siriwardhana, Ali, Roberts, & Stewart, 2014; Sleijpen, Boeije, Kleber, & Mooren. 2016) e in Italia (Tessitore & Margherita, 2017), hanno tentato di sistematizzare i risultati degli studi sul processo di resilienza nell'esperienza potenzialmente pluritraumatica della migrazione, con particolare attenzione alla condizione esistenziale di rifugiato. I risultati evidenziano e si concentrano, soprattutto, sui principali fattori di rischio e quelli protettivi che possono intervenire nel processo di resilienza a seguito di queste esperienze pluritraumatiche. In questi lavori emerge, tuttavia, la necessità per la ricerca di individuare strategie e procedure per interventi e pratiche mirati ed efficaci a promuovere il processo di resilienza nei contesti dell'accoglienza. In particolare, rispetto al contesto italiano si riscontra che sono stati svolti pochi studi sul tema, ancora da approfondire (Tessitore & Margherita, 2017). L'analisi approfondita delle pratiche costruite e messe in atto nell'ambito dell'accoglienza negli ultimi anni in Italia risulta rilevante per una sistematizzazione di conoscenze e competenze e utili per la progettazione di interventi psicosociali efficaci. La presente ricerca si poneva l'obiettivo di studiare, se e in che misura, le pratiche dell'accoglienza e le strategie di intervento messe in atto nel sistema CAS di Parma e Provincia abbiano favorito un processo di resilienza nei richiedenti asilo accolti. Inoltre, si poneva l'obiettivo di comprendere se e in che modo l'operatore dell'accoglienza potesse svolgere una funzione di tutore di resilienza. Poiché basandosi sulla teorizzazione di Cyrulnik (2001), l'esito del processo di resilienza è dato dall'interazione dei fattori protettivi individuali, dalla qualità/intensità del trauma e/o comunque delle situazioni avverse e dall'incontro con i possibili tutori di resilienza, il progetto si è sviluppato in due fasi e ha tenuto conto sia dell'esperienza dei richiedenti asilo sia di quella degli operatori. Rispettivamente, nella prima fase l'obiettivo della ricerca si proponeva di individuare le risorse/vincoli personali presenti nella biografia dei richiedenti asilo, i vissuti emotivi e la qualità dei legami stabiliti nel passato, di individuare le risorse/vincoli messe in gioco durante il viaggio e, infine, di individuare le risorse/vincoli con funzione protettiva dal momento dell'arrivo in Italia e in particolare nel CAS di residenza e nella relazione con gli operatori. Nella seconda fase, la ricerca mirava a individuare le risorse e le competenze, rintracciabili nelle biografie degli operatori dei CAS messe in gioco nella pratica professionale e di conoscere le loro motivazioni alla base della scelta professionale, e a comprendere il significato e l'uso consapevole della relazione con i richiedenti asilo nella loro pratica professionale e, infine, a valutare la qualità della loro vita professionale tenendo conto del forte carico emotivo dovuto alla relazione con i richiedenti asilo e il loro vissuti traumatici. 2. Migrazione ed Europa: Una revisione sistematica sulla promozione della resilienza dei richiedenti asilo negli Stati membri dell'Unione Europea. La migrazione è un fenomeno complesso determinato dall'interazione di fattori di espulsione e di attrazione. L'Europa ha sempre svolto un ruolo di attrazione nei flussi migratori. Negli ultimi anni, le direttive per gli Stati membri hanno mirato a promuovere il benessere dei richiedenti asilo. È importante sviluppare la resilienza per raggiungere il benessere delle persone. L'obiettivo della revisione sistematica è stato quello di esplorare come viene studiata la resilienza nei richiedenti asilo nei paesi dell'UE. Sono stati consultati i database internazionali PsycINFO, PubMed, Web of science, Scopus, MEDLINE, Psychology e behavioural collection. Gli articoli sono stati analizzati secondo i criteri PRISMA. Sono stati ottenuti 12 articoli. Dall'analisi qualitativa sono emersi tre approcci principali e quattro principi teorici fondamentali che potrebbero guidare lo studio della resilienza in contesti migratori. Lo studio della resilienza può essere orientato verso un approccio clinico, clinico e sociale o psicosociale. Inoltre, la ricerca ha tenuto conto della necessità di costruire una nuova narrazione di sé e della propria storia nei richiedenti asilo, di restituire agency ai richiedenti asilo, di valorizzare il proprio contesto culturale e quello del paese ospitante e di promuovere una democratizzazione del sistema istituzionale di accoglienza. Si suggeriscono implicazioni per le politiche degli Stati membri dell'UE coinvolti in prima linea nella gestione dell'accoglienza in Europa. Data la limitata letteratura sull'argomento, questa rassegna suggerisce una nuova e originale visione di presa in carico dei richiedenti asilo attraverso una maggiore implementazione di interventi focalizzati sull'individuo e sulle sue risorse. 3. Promozione della salute psicosociale nei migranti: una revisione sistematica della ricerca e degli interventi sulla resilienza nei contesti migratori. La resilienza è identificata come una capacità chiave per prosperare di fronte a esperienze avverse e dolorose e raggiungere un buono stato di salute psicosociale equilibrato. Questa revisione mirava ad indagare come la resilienza è intesa nel contesto della ricerca sul benessere dei migranti e come gli interventi psicosociali sono progettati per migliorare la resilienza dei migranti. Le domande della ricerca hanno riguardato la concettualizzazione della resilienza, le conseguenti scelte metodologiche e quali programmi di intervento sono stati indirizzati ai migranti. Nei 63 articoli inclusi, è emersa una classica dicotomia tra la resilienza concettualizzata come capacità individuale o come risultato di un processo dinamico. È anche emerso che l'importanza delle diverse esperienze migratorie non è adeguatamente considerata nella selezione dei partecipanti. Gli interventi hanno descritto la procedura ma meno la misura della loro efficacia. 4. Il sistema d'accoglienza straordinaria di Parma e provincia: soddisfazione e benessere percepito dai migranti accolti. I servizi e le progettualità messi in atto nei CAS mirano a favorire integrazione, autonomia e benessere. Questi obiettivi si strutturano sull'attivazione e promozione di risorse dei richiedenti asilo. Nello specifico, vanno ad innestarsi sulle loro abilità, sulle conoscenze, sulle competenze, sulla loro agency e sulla capacità di proiettarsi verso un futuro. Poiché i richiedenti asilo sono i principali attori e fruitori di questi servizi, la valutazione di efficacia e di raggiungimento degli obiettivi preposti deve tenere conto necessariamente del loro punto di vista. I richiedenti asilo che hanno partecipato allo studio erano circa il 20% della popolazione dei richiedenti asilo adulti presenti nel territorio di Parma e provincia. Per la stratificazione del campione si è tenuto conto della variabile del paese di origine, della collocazione sul territorio provinciale (distretto) e il tempo di permanenza nel sistema CAS. È stato costruito un questionario ad hoc che mirava ad indagare la percezione di autonomia, di benessere personale, di soddisfazione verso sé stesso, la percezione di essere rispettato nelle proprie tradizioni culturali e la soddisfazione verso il servizio. Il questionario constava di una parte introduttiva, che forniva una breve descrizione al partecipante delle finalità d'indagine, e di diverse sezioni, che indagavano e approfondivano specifiche aree (temi) di interesse. Le prime due aree hanno rilevato i dati socio-anagrafici e il viaggio dei richiedenti asilo. La terza e la quarta area hanno indagato l'accoglienza nel centro e la struttura in cui risiedeva il beneficiario. Le altre aree si sono concentrate sui servizi primari (beni e servizi di prima necessità, assistenza medica) e servizi secondari (assistenza legale, lingua italiana, sostegno psicosociale, lavoro, mediazione culturale, orientamento al territorio e tempo libero) che gli venivano offerti. Le ultime sezioni si focalizzavano sul rapporto con gli operatori, sul progetto individualizzato e sui propri piani futuri. Alla fine del questionario vi era una breve sezione che mirava ad indagare la soddisfazione generale verso l'intero processo di accoglienza in Italia e la specifica esperienza nel territorio di Parma e provincia. Sono state effettuate delle analisi ed elaborazioni statistiche descrittive tramite il software SPSS. Dal questionario è emerso un quadro complessivo dei servizi offerti e una mappatura delle pratiche messe in atto all'interno delle strutture a partire dal punto di vista dei richiedenti asilo. Questi hanno espresso una generale soddisfazione del sistema accoglienza in Italia e in particolare di quella ricevuta a Parma. Hanno riportato un senso di protezione e sicurezza e una generale percezione di capacità e autonomia raggiunta in molti dei servizi e ambiti della quotidianità. Le aree più critiche sono risultate essere l'assistenza legale, l'avviamento lavorativo, la creazione di relazioni sociali con italiani nel tempo libero, la progettazione individualizzata e in particolare il sostegno psicosociale e, infine, la progettazione futura. In queste aree i richiedenti asilo hanno espresso una bassa soddisfazione verso il servizio di sostegno ricevuto, una scarsa consapevolezza di sé e delle proprie capacità e una bassa percezione di un'autonomia conquistata dal singolo servizio e, più in generale, dalla struttura d'accoglienza. 5. Vissuti, fattori di protezione e fattori di rischio nelle biografie dei richiedenti asilo: la definizione di traiettorie di resilienza nei Centri d'Accoglienza Straordinaria. I richiedenti asilo sono portatori di storie potenzialmente traumatiche a seguito delle quali possono vivere distress psicologico e PTSD nel paese d'accoglienza. Qui vengono inseriti in programmi che mirano a favorire benessere psicologico e integrazione. Tale processo è definito resilienza, La resilienza è un processo che vede le persone impegnate a guarire da esperienze dolorose, a prendersi cura della propria vita per continuare a svilupparsi positivamente in modo socialmente accettabile. Il presente studio mira a comprendere i fattori di protezione e le risorse personali e sociali che possono favorire il superamento dei traumi e un processo di resilienza nei richiedenti asilo. Sono stati somministrati 29 test CORE-10 e questionari costruiti ad hoc per il sostegno sociale percepito e condotte altrettante interviste in profondità. Con risultati moderati e gravi di distress psicologico nei partecipanti, sono emersi fattori protettivi e risorse già nella fase pre-migratoria. I legami di accudimento sembrano svolgere una funzione protettiva anche durante l'accoglienza, favorendo la costruzione di rapporti di fiducia. Il supporto sociale della comunità d'accoglienza e quello degli operatori nei centri possono influenzare la definizione di traiettorie resilienti. Lo studio solleva implicazioni di tipo clinico e sociale. Nei suoi limiti lo studio vuole essere un'apertura a nuovi approfondimenti di ricerca. 6. La qualità della vita professionale di chi lavora con i richiedenti asilo: Compassion Staisfaction, Burnout e Secondary Traumatic Stress negli operatori dell'accoglienza In Italia negli ultimi anni sono stati strutturati Centri di Accoglienza Straordinaria per rispondere ai bisogni primari e secondari dei richiedenti asilo approdati sulle coste mediterranee. A seguito dell'apertura dei CAS, sul territorio nazionale si è formato un nuovo corpo professionale, i professionisti dell'accoglienza. Poiché inizialmente non è stata richiesta una formazione specifica in base al contesto e agli obiettivi posti, il loro profilo professionale derivava tendenzialmente dai diversi percorsi formativi e lavorativi precedenti. Considerando il mandato istituzionale del loro lavoro, quale favorire l'accoglienza e una completa presa in carico dei richiedenti asilo, i professionisti dell'accoglienza sono quotidianamente coinvolti nella relazione con gli accolti ed esposti ai racconti traumatici o ai sintomi agiti di questi. Infatti, i richiedenti asilo sono persone spesso profondamente traumatizzate dalle esperienze passate, dal viaggio, ma anche disorientate e impreparate per la complessa esperienza dell'accoglienza e dell'integrazione. Questo aspetto del lavoro con i richiedenti asilo può influenzare il clima e la qualità della vita professionale dei professionisti dell'accoglienza. Infatti, come nelle altre professioni d'aiuto continuamente esposte a eventi stressanti o traumatici, anche nel lavoro di cura e accoglienza dei richiedenti asilo è alto il rischio di sviluppare i sintomi negativi associati al burnout e al trauma vicario. Sebbene, negli ultimi venti anni, la qualità della vita professionale sia stata ampiamente approfondita in diversi settori, non risultano studi che esplorino questo tema tra i professionisti del settore dell'accoglienza. In questo studio è stato sottoposto il questionario ProQOL 5 ai professionisti dell'accoglienza dei Centri di Accoglienza Straordinaria di Parma e provincia, attivamente coinvolti nella relazione d'aiuto con i richiedenti asilo, con lo scopo di definire lo stato di benessere psicosociale rispetto alla loro qualità di vita professionale. Anche se si è dimostrato che mediamente i professionisti dell'accoglienza riportano una buona soddisfazione nello svolgere il proprio lavoro, sono emersi tre profili. Il primo gruppo sembra esprimere soprattutto Burnout, il secondo gruppo una maggiore Compassion Satisfaction e il terzo gruppo un malessere evidente sia per il Burnout che per il Secondary Traumatic Stress. I dati ottenuti permettono di colmare parzialmente un vuoto nella letteratura di settore. Inoltre, la rilevanza dei dati spinge alla riflessione sulla possibilità di incoraggiare interventi efficaci di prevenzione e management delle organizzazioni, al fine di favorire il benessere psicosociale di questo corpo professionale emergente. 7. Essere professionisti dell'accoglienza: l'importanza di un uso consapevole del Se' nella relazione d'aiuto e la funzione del tutore di resilienza. All'interno dei CAS sono stati impiegati professionisti di differenti background formativi ed esperienziali. Appannaggio degli operatori è l'attivazione dei servizi interni ed esterni e il monitoraggio di tutte le fasi del progetto di accoglienza. La presa in carico si configurerebbe come una relazione d'aiuto possibile attraverso la compresenza di diversi aspetti di Sé. Chi lavora con i richiedenti asilo deve affrontare e gestire vissuti potenzialmente traumatici che influenzano il buon esito dell'intervento clinico-sociale. Nel favorire benessere psicologico nei beneficiari, gli operatori svolgono funzioni che richiamano quelle del tutore di resilienza. In questo studio si è esplorata la rappresentazione dei professionisti dell'accoglienza e la consapevolezza di Sé a partire dal loro punto di vista. Sono stati condotti tre focus group e le trascrizioni verbatim sono state analizzate secondo l'approccio IPA. Sono emersi tre aspetti del Sé (Sé personale, Sé professionale e Sé burocrate). Il Tempo e il Contesto sociale sono risultate possibili variabili che influenzano la relazione d'aiuto. Lo studio propone implicazioni di ricerche future e di policy. 8. Conclusioni Negli anni il sistema italiano dell'accoglienza si era ormai rodato e formalizzato su due principali dispositivi: il sistema SPRAR e i cosiddetti Centri di Accoglienza Straordinaria (CAS). Tuttavia, negli ultimi due anni, con il cosiddetto decreto Salvini (D.lg. 4/19/2018 n° 113), si è assistito ad un graduale ridimensionamento dei numeri degli accolti e ad una conseguente chiusura di strutture del sistema CAS. Pertanto, assume rilevanza e importanza capitalizzare le esperienze di accoglienza e comprenderne maggiormente le potenzialità e i limiti. Con la presente ricerca e le analisi delle pratiche d'accoglienza e delle progettualità messe in atto all'interno del sistema CAS sono emersi due risultati principali. Il primo risultato emerso è che i richiedenti asilo accolti abbiano consapevolezza delle risorse e dei fattori protettivi che hanno acquisito nell'arco di vita. Inoltre, si è evidenziata una forte e imprescindibile interdipendenza tra i vissuti psicologici, i bisogni e le risorse dei richiedenti asilo e la funzione relazionale dell'operatore dell'accoglienza. Dalla ricerca è emerso che il valore di tale interdipendenza, non essendo riconosciuto formalmente e quindi esplicitamente richiamato nelle norme e regolamentazioni, era dipeso da un reciproco riconoscimento dei richiedenti asilo accolti e degli operatori. Tuttavia, questa relazione, se opportunamente strutturata e formalizzata, può favorire la definizione di traiettorie di resilienza e il raggiungimento degli obiettivi di integrazione, autonomia e benessere psicosociale. Al momento in cui è stata condotta la ricerca, questi obiettivi erano parzialmente raggiunti. Infatti, sebbene nel sistema d'accoglienza i richiedenti asilo abbiano percepito di essere in un luogo sicuro e protetto e fossero generalmente soddisfatti dei servizi offerti, hanno riportato livelli medio-alti di disagio psicologico. Il valore traumatico delle loro esperienze di vita è stato esplorato e compreso nella sua diacronicità, in quanto i vissuti traumatici sono rintracciabili non solo durante il viaggio ma già nelle esperienze pre-migratorie. Le biografie dei richiedenti asilo sono segnate da profonde ferite, che spesso risalgono a perdite, lutti o tradimenti da parte delle figure significative dell'infanzia o della comunità allargata, fino a sentirsi espulsi dalle politiche disattente degli Stati d'appartenenza. Anche l'arrivo in Italia e l'inserimento nel sistema d'accoglienza comportano sfide esistenziali, che in alcuni casi arrivano a reiterare esperienze traumatiche passate. Nonostante questo, i richiedenti asilo hanno mostrato consapevolezza delle proprie risorse e dei fattori di protezione acquisiti già durante l'infanzia, attraverso le relazioni significative e di accudimento. Queste risorse hanno svolto una funzione di protezione e sostegno nel loro sforzo psicologico di fronteggiare e sopravvivere alle avversità incontrate in tutto l'arco di vita. Nonostante la loro consapevolezza e tenuto conto della permanenza relativamente lunga nel sistema d'accoglienza, è risultato che le esperienze traumatiche non trovano uno spazio adeguato di ascolto e di ri-significazione una volta inseriti nei progetti di accoglienza. Le caratteristiche strutturali e organizzative del sistema non sembrano favorire quell'incontro con l'Altro che può garantire la rielaborazione delle esperienze passate e riattribuire senso e agency alla propria vita, anche nella quotidianità. Al contrario, i richiedenti asilo sono consapevoli di ritrovarsi in una posizione di svantaggio rispetto al potere decisionale sui loro progetti di vita. Non sono coinvolti nelle scelte progettuali e non percepiscono una crescita personale nelle competenze e nelle capacità necessarie per rendersi autonomi. Tuttavia, i richiedenti asilo riconoscono negli operatori degli interlocutori diretti che svolgono un ruolo di congiunzione con la società ospitante. Nello svolgimento del proprio ruolo, gli operatori possono aprirsi ad un ascolto attivo di tutte le parti della biografia dei richiedenti asilo per costruire un rapporto di fiducia. Al fine di favorire la costruzione di tale rapporto, è importante che gli operatori nella loro pratica quotidiana mirino a riattribuire agency ai richiedenti asilo, coinvolgendoli nella progettazione individualizzata. Ciò favorirebbe la valorizzazione e l'attivazione delle risorse dei richiedenti asilo, l'instaurarsi di relazioni di fiducia che consentano la ricostruzione di significato delle proprie esperienze traumatiche di vita e la restituzione di una rappresentazione di Sé attiva e agente. In generale, si otterrebbe una maggiore adesione al progetto d'accoglienza. Inoltre, la valorizzazione della funzione relazionale degli operatori dell'accoglienza favorirebbe una maggiore qualità di vita professionale. I professionisti avrebbero così la possibilità di riconoscere e far riconoscere il proprio ruolo, che è stato profondamente messo in discussione dalla comunità e dalle politiche degli ultimi anni. Quindi, l'ascolto attivo, la riattribuzione di agency e l'esempio nella quotidianità da parte degli operatori favorirebbero il riconoscimento del loro ruolo come tutori di resilienza e promuoverebbero la definizione di traiettorie di resilienza. In questo modo si faciliterebbe il raggiungimento di uno stato di salute psicosociale nei richiedenti asilo. La legittimazione del ruolo funzionale della relazione tra i richiedenti asilo e gli operatori dell'accoglienza da parte del contesto sociale e istituzionale diventa un fattore necessario allo sviluppo di buone pratiche d'accoglienza e alla promozione di traiettorie di resilienza. 9. Riferimenti bibliografici  Agaibi, E. C., & Wilson, J.P. (2005). Trauma, PSTD and resilience. A Review of the Literature. Trauma, Violence & Abuse, 6(3), 195-216. doi:10.1177/1524838005277438  Anaut, M. (2005). Le concept de résilience et ses applications cliniques. Recherche en soins infirmiers, 82(3), 4-11. doi.org/10.3917/rsi.082.0004  Berkham, M., Bewick, B., Mullin, T., Gilbody, S., Connell, J., Cahill, J., …Evans, C. (2013). The CORE-10: A short measure of psychological distress for routine use in the psychological therapies. Counselling and Psychotherapy Research, 13(1), 3-13. doi.org/10.1080/14733145.2012.729069  Bonanno, G., & Diminich, E. D. (2013). Annual Research Review. Positive adjustment to adversity – trajectories of minimal- impact resilience and emergent resilience. Journal of child psychology and psychiatry, 54(4), 378-401. doi:10.1111/jcpp.12021  Bonanno, A. G., Westphal, M., & Mancini, A. D. (2011). Resilience to loss and potential trauma. Annual Review Clinical Psychological, 7, 511–535. doi:10.1146/annurev-clinpsy-032210-104526  Cicchetti, D. (2013). Annual Research Review. Resilient functioning in maltreated children. Past, present and future perspectives. Journal of Child Psychology and Psychiatry, 54(4), 402–422. doi:10.1111/j.1469-7610.2012.02608.x  Cicchetti, D., & Garmezy, N. (1993). Prospects and promises in the study of resilience. Development and Psychopathology, 5, 497-502. doi:10.1017/S0954579400006118  Costa, P., & McCrae, R. (1980). Influence of extroversion and neuroticism on subjective wellbeing: Happy and unhappy people. Journal of Personality and Social Psychology, 38, 668-678. DOI:10.1037/0022-3514.38.4.668  Connell, J., & Barkham, M. (2007). CORE 10 user manual (versione 1.0). Centre for Psychological Service Research, CPSR Memo 1, University of Sheffield.  Cyrulnik, B. (2001). Manifeste pour la résilience. Spirale, 18(2), 77-82. DOI 10.3917/spi.018.0077  Cyrulnik,B., & Malaguti, E. (2015). Costruire la resilienza. La riorganizzazione positiva della vita e la creazione di legami significativi, Trento, IT: Centri Studi Erickson  Figley, C. R. (Ed.). (1995). Brunner/Mazel psychological stress series, No. 23. Compassion fatigue: Coping with secondary traumatic stress disorder in those who treat the traumatized. Philadelphia, PA, US: Brunner/Mazel  Fondazione Migrantes. (2018). Il diritto d'asilo. Accogliere proteggere promuovere integrare. Report 2018. Roma, IT  Lighezzolo,J., Marchal, S., & Theis, A. (2003). La résilience chez l'enfant mailtraté: Tuteur de développement et mécanismes défensifs (approche projective comparée). Neuropsychiatrie de l'enfance et de l'adolescence, 51, 87–97. DOI:10.1016/S0222-9617(03)00020-5  Malaguti, M. (2012). Educarsi alla resilienza. Trento, IT : Erickson.  Manciaux, M. (2001). La résilience. Un regard qui fait vivre. Etudes, 395(10), 321-330. https://doi.org/10.3917/etu.954.0321  Palestini, L., Prati, G., Pietrantoni L., & Cicognani E. (2009). La qualità della vita professionale nel lavoro di soccorso: un contributo alla validazione italiana della Professional Quality Of Life Scale (ProQOL). Psicoterapia cognitiva e Comportamentale, 15(2), 205-227  Rutter, M. (2012). Resilience as a dynamic concept. Development and Psychopathology, 24, 335–344  Siriwardhana, C., Ali, S. S., Roberts, B., & Stewart, R. (2014). A systematic review of resilience and mental health outcomes of conflict-driven adult forced migrants. Conflict and Health, 4, 8-13. doi:10.1186/1752-1505-8-13  Sleijpen, M., Boeije, H. R., Kleber, R. J., & Mooren, T. (2016). Between power and powerlessness: a meta-ethnography of sources of resilience in young refugees. Ethnicity & Health, 21(2), 158–180. doi:10.1080/13557858.2015.1080484  Smith, J. A., Flowers, P., & Larkin, M. (2009). Interpretative Phenomenological Analysis: Theory, Method and Research, Los Angeles: Sage.  Stamm, B. H. (2010). The Concise ProQOL Manual, 2nd Ed. Pocatello, ID: ProQOL.org.  Tessitore, F., & Margherita, G. (2017). A review of asylum seekers and refugees in Italy: where is the psychological research in Italy?. Mediterranean Journal of Clinical Psychology, 5(2),1-33. doi:10.6092/2282- 1619/2017.5.1612  Wagnild, G. M., & Young, H. M. (1993). Development and psychometric evaluation of the resilience scale. Journal of Nursing Measurement, 1(2), 165-178  Walsh, F. (2016). Family resilience a development systems framework. European Journal of developmental psychology, 13 (3), 313-3224 dx.doi.org/10.1080/17405629.2016.1154035

Striking, overtime bans and refusing to carry out certain tasks[1] are collective forms of actions that can arise from workplace disputes. These industrial actions are of fundamental importance: the temporary halt in work production leverages a demand to enforce workers' rights. Despite this, the UK does not recognise the legal right to withdraw labour. Instead, the UK's "right to strike" is said to depend on a complex statutory scheme[2]. This article will analyse a variety of sources, "statutes such as TULRCA 1992, the common law, Convention rights, and relevant case law[3]", to determine whether the UK's "right to strike" "is a classic instance of a 'legislated' right[4]" or if it is merely a "slogan/legal metaphor[5]". [1] Hugh Collins, Aileen McColgan and Keith D Ewing,Labour Law(2nd edn, Cambridge University press 2019) pg.706. [2] Alan Bogg and Ruth Dukes, 'Statutory Interpretation and The Limits of a Human Rights Approach: Royal Mail Group Ltd V Communication Workers Union' (2020) 49(3) Industrial Law Journal pg.478. [3] Ibid, pg.478. [4] Ibid, pg.478. [5] Metrobus v UNITE [2009] EWCA Civ 829 (Maurice Kay LJ). - 'In truth, the "right to strike" in the UK depends for its realisation on a complex statutory scheme. Even in jurisdictions where the right to strike is specified textually in a constitutional document, such a complex right must be operationalised through labour statutes. It is a classic instance of a "legislated" right. Since the enactment of the Human Rights Act, and the evolving jurisprudence of the ECtHR, UK law may now be described as protecting a right to strike albeit one that is pieced together from a variety of sources: statutes such as TULRCA, the common law, Convention rights, and relevant case law.'[1] Does this statement accurately encapsulate the UK law on the 'right to strike'? How do the different sources of law interact and what factors determine the correct balance to be reached between competing interests in regulating industrial action? Use case law, statute, legal commentary and social science material in your answer and provide illustrations to support your analysis. In line with socialism and Professor Beverly Silver's assertions, capitalism is established upon 'two contradictory tendencies': 'crises of profitability and crises of social legitimacy'.[2] This 'inherent labour-capital'[3] struggle is reflected within the UK's hostile regulation of industrial action. The courts' and legislature's ideological approaches towards the collective right to withdraw labour unanimously and substantially favours economic growth above social welfare.[4] Striking, overtime bans, and refusing to carry out certain tasks are collective forms of actions that can arise from workplace disputes.[5] These disputes typically occur because employers are unwilling to negotiate with employees and workers about their working terms or conditions. Undeniably, the duration – and the aftermath – of the collective action results in financial losses to the business and affect innocent third parties (i.e. the general public).[6] Therefore, in order to appease and 'bring the labour under control', the capital would 'have to make concessions [i.e. comply with the strikers' new terms], which provoke crises of profitability'.[7] However, the loss suffered by a business[8] during and after industrial action is justified on two persuasive grounds. The first ground identified by Gwyneth Pitt is the human right aspect.[9] To restrict the right to strike would be akin to the horrific period of slavery,[10] where man had no power to withdraw his labour. This justification is recognising the inequalities in bargaining power between employer and employee.[11] This inequality has been further escalated by the growth of the modern-day unstable gig economy; one in nine UK workers are in precarious work.[12] This form of work has limited protection and much lower salaries.[13] Hence, a subsequent ground for the justification of withdrawal of labour is the equilibrium argument. The power of the employer and their actions can only be matched and questioned by a 'concerted stoppage of work'.[14] Essentially, the right to strike is more than the withdrawal of labour: it is also the encompassing 'right to free expression, association, assembly and power'.[15] Yet there is 'no positive legal right to strike in the UK'.[16] Instead, 'the "right to strike" in the UK depends for its realisation on a complex statutory scheme'.[17] In contrast to its neighbouring European countries' (Spain and Italy) jurisdictions 'where the right to strike is specified textually in a constitutional document', the UK law 'protects a right to strike … from a variety of sources: statutes such as TULRCA, the common law, Convention rights, and relevant case law'.[18] The accuracy of Bogg and Dukes' encapsulation of the UK law on the 'right to strike' and how the different sources of law interact will be subsequently discussed. Common Law Judiciary While Spain[19] and Italy[20] protect the right to strike by suspending the contract of employment during industrial action, this contract is broken under English law.[21] This is because the English common law does not confer a right to strike,[22] hence 'the rigour of the common law applies in the form of a breach of contract on part of the strikers and economic torts … [for] the organisers and their union'.[23] It is tortious and indefensible[24] to induce an individual to breach their contract of employment.[25] This principle was established in Lumley v Gye,[26] and this liability extends to trade unions in the context of industrial action.[27] Additionally, there are two further economic torts trade unions can be held liable for: liability for conspiracy to injure (Quinn v Leathem)[28] and causing loss by unlawful means. UntilOBG Ltd v Allan, Douglas, and others v Hello! Ltd,[29] the 'tort of procuring a breach of contract had been ["blurred"[30] and] extended [to be a wider] tort of unlawful interference with contractual relations'.[31] These torts were later distinguished and separated in the House of Lord's (HoL) judgment of OBG v Allan. While it is not often, the courts are encouraged to distinguish and introduce new torts. The HoL in OBG v Allan subsequently outlined the distinguishing elements between unlawful means and the tort of procuring a breach of contract. The tort of procuring a breach of contract is an accessory liability. Whilst the tort of unlawful means is a 'primary liability that is not dependent on the third party having committed a wrong against the claimant'.[32] Yet, despite the tort differences, the HoL confirmed that the same act could give rise to liability under both unlawful interference and procuring a breach of contract.[33] This clarification and the development of unlawful interferences as a separate liability has notably accommodated employers in holding trade unions liable for more than one tort. The OBG v Allan judgment is significant for discussing industrial action for two notable reasons. The first is that it confirms the judiciary's 'uncontrolled power'[34] in developing and 'defining torts boundaries on a case-to-case basis.[35] This power is 'ensur[ing] that trade unions cannot provide a lawful excuse or justification for their actions'[36]; trade unions are ultimately 'stood naked and unprotected at the altar of the common law'.[37] The insufficiency of protection for trade unions under the common law exhibits the judiciary's biased and hostile ideology towards industrial action.[38] This subsequently aligns with the following observation: the courts favour economic profits. This is discerned by the extent to which the contemporary judiciary extends protection for commercial bodies.[39] The primary function of English tort law was to protect physical integrity and property rights; tort law was never concerned with the protection of economic interests.[40] Nor had the common law ever been historically exercised to 'legitimately control aspects of the economy'[41] and yet OBG v Allan demonstrates the extent to which this has now changed. The judiciary has extensively and needlessly stretched the common law and its torts[42] to protect 'already powerful organisations'.[43] Hence, from the perspective of trade unions and their members, the common law's (inadequate) protection for the 'right to strike' has been, undeniably, very disappointing. Statutes Legislature One of the major problems facing trade unions was the 'exposure of their funds to legal action by employers'[44]; in 1901, Taff Vale Railway Co successfully sued the Amalgamated Society of Railway Servants union for £42,000.[45] This sum is equivalent to £5,196,328.39 today. This verdict, in effect, eliminated 'the strike as a weapon of organized labour'.[46] Naturally, workers turned to political parties for redress. The concern and advocacy for trade union reform accounted for 59% of the winning Liberal party's election manifesto.[47] The Liberal government, led by Prime Minister Henry Campbell-Bannerman, provided unions with wide immunity against any tortious liability arising from trade disputes under The Trade Disputes Act (TDA) 1906. Although this Act did not introduce a 'legislated right' for industrial action,[48] this statute effectively recognised the vulnerability of unions under the common law by 'secur[ing] a [statutory] freedom' instead. [49] The TDA is one of the 'mostimportantpieces oflabour legislationever passed by a British Parliament'[50]; it effectively 'kept the courts at a minimum'[51] and neutralised the most obvious adverse effects of the Taff Vale judgment. The 'sympathetic politicians' were 'periodically reconstructing' the role of the 'class-conscious', profit-favouring judiciary.[52] The outcome of the 1906 general election 'served the unions' interests well'[53] and it continued to for 65 years. The 'long enjoyed'[54] immunity of trade unions for liability in tort was reduced to partial immunity under the Thatcher government (1979-90). There is a 'scale of government ideology' which ranges from 'fully participative' to 'fully authoritative',[55] and the Thatcher government was the undoubtable latter. The Conservative ideology and economists, such as FA Hayek, viewed trade unions as an obstacle to economic growth.[56] This perception was heightened by the Winter of Discontent (1978-79): a period characterised by widespread of strikes in response to the Labour government's wage cap (to maintain falling inflation).[57] Subsequently, Thatcher's government further justified the re-introduction of liability for trade unions upon the succeeding Green Papers: the 1981 Trade Union Immunities[58] and the 1989 Trade Unions and their Members.[59] Both papers outlined concerns regarding democracy, rights, and freedom of trade union members; 'too often in recent years it has seemed that employees have been called out on strike by their unions without proper consultation and sometimes against their express wishes'.[60] Accordingly, the Thatcher government introduced legislation that prior Conservative governments were afeard of passing: the Employment Act 1980, Trade Union Act 1984, and Trade Union Reform and Employment Rights Act 1993. These re-introduced vulnerability and high costs for unions. Under the Employment Rights Act 1980, 'trade-dispute' was re-defined, statutory liabilities were introduced and unions were exposed to injunctions and claims for damages. However, upon complying with the stringent balloting requirements (from secret ballot to the requirement for all ballots to be postal) in the 1984 and 1993 Acts, the dispute would be deemed lawful.[61] It is expensive for unions to comply and evidence the fulfilled balloting requirements, but if lawful union members are statutorily protected from unfair dismissals and injunctions.[62] While this is a brief summary of the Acts, these restrictive measures offer an insight into the Thatcher government's success in exercising its agenda of restricting the lawfulness of industrial action by limiting its previously protected scope and purposes. Subsequently, the process of placing further controls on trade unions continued into the 21st century.[63] The 2015 Conservative government introduced the 'draconian'[64] Trade Union Act 2016 (TUA) – the most significant union legislation since the Employment Act 1980. The TUA introduced a minimum threshold of eligible members to vote in the ballot (at least 50% turnout and 50% voting in favour).[65] Moreover, in the instance the members are engaged in 'important public services',[66] 40% of all members entitled to vote must have voted in support of the industrial action. These stringent procedural requirements have to be strictly followed for a strike to be lawful.[67] Oddly, there was no pressing need to introduce these restrictive measures.[68] There were no significant problems in industrial relations at the time (ie, Winter of Discontent) nor any significant 'pressure from business for further laws on strikes',[69] but the Conservative government justified these 2016 measures through the findings of Bruce Carr QC and Ed Holmes.[70] The Government submitted the Carr Review to indicate a consistent pattern of union bullying workers, and yet Carr himself 'did not contend his findings to be a sufficient basis' for influencing the TUA.[71] Instead, the true motivations behind the government's 2016 legislative programme are observed by the 'striking resemblance'[72] to Ed Holmes Modernising Industrial Relations (MIR) paper.[73] The policy paper daringly questioned the necessity of protecting industrial action by reflecting on the development of employment tribunals and discussing the economic consequences of strikes. The same 'free-market economic theory' that underpinned the MIR's recommendations 'drove' the pragmatically restrictive and economically influenced 2016 statute developments.[74] The substance of today's statute in protecting trade unions 'is far removed and much weaker than the position established in 1906'.[75] Since the Henry Campbell-Bannerman leadership, trade union membership has declined by more than half due to the 'three successive Conservative governments [who] have enacted labour legislation opposed by unions'.[76] It appears the deep-rooted ideology of the political party in power influences the legislative steps for protecting trade unions.[77] Therefore, the extent of the Conservative government's 'authoritarian, class-biased and oppressive'[78] industrial action policies will be exemplified and 'more evident than they are today when a Labour government is elected again'.[79] Judiciary While the likes of Maurice Kay LJ and Lord Neuberger MR 'characterised the statutory immunities as limited exceptions to the common law' to justify interpreting the statute provisions 'strictly against the trade union', the court's overall response to industrial action 'has been more mixed'.[80] The court in Merkur Island Shipping v Laughton[81] developed a three-part test to examine the legality of industrial action. This test encapsulates the substantive and procedural requirements for a lawful strike whilst observing the intertwined and 'uneasy' relationship between the common law and statute.[82] If the industrial action is unlawful at common law, the judiciary asks whether there is a 'prime facie statutory immunity' for the commission of torts.[83] This substantive question considers whether the action was 'in contemplation or furtherance of a trade dispute'[84] before questioning whether the immunity had been procedurally lost by one of the three specified statutory reasons in TULRCA 1992.[85] The union's partial immunity could be lost for minor 'inconsequential breaches of the statutory rules'[86]; there is a series of High Court instances of injunctions being granted to 'ever more powerful and well-resourced employers'[87] owing to invalid strike ballots.[88] The readily available labour injunctions continued to be the "key piece[89]" of suppressing collective action until the minor development in 2011. In RMTv Serco Ltd;ASLEFv London and Birmingham Railway Limited (RMT and ASLEF),[90] the Court of Appeal approved and applied Millett LJ's 1996 observation in London Underground Limited v National Union of Railwaymen, Maritime and Transport Staff:[91] 'the democratic requirement of a secret ballot is not to make life more difficult for trade unions … but for the protection of the Union's own members'.[92] Owing to this proposed democratic aim, the court in RMT and ASLEF confirmed it was 'to interpret the statutory provisions somewhat less stringently'.[93] This interpretation is a stark contrast to Maurice Kay LJ's understanding of parliament's intentions. The court furthered Millett LJ's aim by recommending a neutral, 'without presumptions one way or the other',[94] interpretation of TULRCA. Upon the fact TULRCA is premised on the existing common law framework, the court's 'judicial creativity' could have easily 'outflank[ed] the intentions of Parliament'.[95] Instead of a 'neutral' approach, the courts have the power to mitigate unions disproportionate vulnerability against injunctions, damages, and unfair dismissals by encouraging and favouring social legitimacy. Although, the RMT and ASLEF court 'only indicated a change in emphasis rather than substance'[96] (since unions are still burdened with the challenges of exercising a 'lawful' strike),[97] this judgment enhanced union's ability to resist injunction applications (as observed by Balfour BeattyEngineering Services Limitedv Unitethe Union).[98] The unbiased interpretation encouraged in RMT and ASLEF continues to be the leading approach to interpreting domestic statutes regarding industrial action. ECHR Judiciary Admittedly, the scope of Maurice Kay LJ's strict interpretation was narrowly limited by the European Court of Human Rights (ECtHR).[99] The ECtHR confirmed, in Enerji Yapi-Yol Sen v Turkey,[100] that Article 11 of the European Convention on Human Rights included protection of the right to strike. This Article, and Article 6 of the European Social Charter[101] bestow the right to strike for their member states members and due to the UK Human Rights Act 1998, 'British workers are understood to enjoy a right to strike'.[102] This, unlike the mere domestic statutory immunities, is the only instance of a 'legislated' right to strike in the UK.[103] Under section 3(1) of the Human Rights Act 1998, 'statutory provisions must be read and given effect in a way which is compatible with the Conventionrights'[104] – 'the opportunity to test this line of argument'[105] in the English courts arose in Metrobus Ltd v Unite the Union (Metrobus).[106] The Court of Appeal rejected the Enerji arguments; the Court denied the authority's relevance for the interpretation of UK statutory provisions. This judgment continues to be the leading precedent on the UK's provisions of Article 11,[107] despite the RMT and ASLEF judgment. In RMT and ASLEF, the UK courts acknowledged the 'clearly protected'[108] right to strike under ECHR Article 11. However, the court emphasised the importance of a 'fair balance to be struck between the competing interests of the individual and the community as a whole'.[109] The emphasised interests of the 'community' motivated the court's justification for the ban on secondary action owing to its 'potential to … cause broad disruption within the economy and to affect the delivery of services to the public'.[110] Subsequently, the court confirmed that this ban aligns with Article 11(2) 'on the basis of a wide margin of appreciation accorded to the State'.[111] While the court is correct to recognise their bestowed margin of appreciation, the court rationalised the granting of the injunction, 'which itself cost the union a substantial sum',[112] upon economic factors. This factor is not only 'wholly irrelevant to the specific facts of the application' but it disregarded and postponed 'the exercise of what was acknowledged to be a convention protected right'.[113] The court effectively and 'successfully prevented industrial action on the basis of legal' human rights provisions 'which are intended to benefit workers'.[114] In short, there 'is no point creating rights' or passing human rights legislation if the 'court is not prepared to defend them'.[115] There will continue to be an erosion of human rights protection until there is greater coordination between the domestic courts and the ECtHR. It is credible to conclude that the UK judiciary is more concerned with profitability, self-preservation of UK powers, and 'in appeasing political forces'[116] above the interests of the individuals it and the Convention Rights was established to serve. Legislature The RMT and ASLEF court's 'blessing of a wide margin of appreciation' in the 'encompassment' of Article 11 offered a 'green light for further restrictive legislation on industrial action' by the 'only too happy Government'.[117] Here, Boggs and Ewing detect 'the crude politics of power'.[118] Upon observing the Court of Appeal's reluctance to exercise EU conventions, and the UK courts' developments that continue to be 'very much in line with the political approach of the Conservative government',[119] it materialises that the court and government are not 'looking to open a third (ECtHR) front'.[120] The Government has recently launched an 'independent review' of the Human Rights Act.[121] The review aims to evaluate 'the duty to take into account' ECtHR case law and assess 'whether dialogue between our domestic courts and the ECtHR works effectively and if there is room for improvement'.[122] It is worth highlighting that this 'independent' review will be led by former Court of Appeal Judge, Sir Peter Gross – the same judge who remarked that 'the more that controversial areas are "outsourced" … the greater the challenge for … judicial leadership'.[123] The former judge is a notable advocate for greater domestic judicial leadership.[124] This advocacy hints the likelihood of the review condemning the relevance and precedence of the ECtHR (and Human Rights Act 1998) in 'controversial' matters such as industrial action. This review has the powerful ability to eliminate the only instance of a legislated right to strike in the UK.[125] Ultimately 'The notion of lawful industrial action is restrictive', the procedural requirements are 'onerous' and the consequences of unions liability for unlawful strikes are 'serious'.[126] Nearly two decades after the European Social Charter's review,[127] the UK still does not guarantee the right to strike. The precedent in Metrobus still stands. There continues to be a 'poorly reasoned and barely consistent' series of judgments 'by what looks like a weak, timid'[128] and politically influenced[129] judiciary. The enactment of the 'Human Rights Act and the evolving jurisprudence of the ECtHR'[130] will not prescribe a right to strike in the UK until the Supreme Court or ECtHR rule UK's current provisions as incompatible with Article 11. In truth, 'the right to strike [in the UK] has never been much more than a slogan or a legal metaphor'.[131] This 'slogan' is a regime of immunities that are purposely designed upon an overly complex and expensive statutory system.[132] These immunities are not adequately or proportionately protecting workers, unions, and one in nine vulnerable, precarious workers against the 'pitfalls'[133] of damages, injunctions, and unfair dismissals.[134] This system was successfully underlined with the political agenda of deterring trade disputes; the UK's worker strike total has fallen to its 'lowest level since 1893'.[135] The 'unanimous and hostile'[136] approach of the legislature and the judiciary towards industrial action exhibits the UK's covert 'culture of routinely disregarding'[137] social legitimacy in favour of profits. [1] Alan Bogg and Ruth Dukes, 'Statutory Interpretation and The Limits of a Human Rights Approach: Royal Mail Group Ltd v Communication Workers Union' (2020) 49 ILJ 477, 478. [2] Nicholas Pohl,'Political and Economic Factors Influencing Strike Activity During the Recent Economic Crisis: A Study of The Spanish Case Between 2002 And 2013' (2018) 9 Global Labour Journal 19, 21. [3] ibid, 21. [4] Harry Smith, 'How Far Does UK Labour Law Provide for The Effective Exercise of a Right to Strike?' (2014) 6 The Student Journal of Law accessed 15 December 2020. [5] Hugh Collins, Aileen McColgan and Keith D Ewing,Labour Law(2nd edn, CUP 2019) 706. [6] Gwyneth Pitt,Cases and Materials on Employment Law(1st edn, Pearson Education Limited 2008) 570. [7] Pohl (n 2), 21. [8] Beverly J Silver,Forces of Labor Workers' Movements and Globalization Since 1870(CUP 2003) 17. [9] Pitt (n 6), 570. [10] Manfred Davidmann, 'The Right to Strike' (Solhaam, 1996) accessed 15 December 2020. [11] Adam Smith,An Inquiry into The Nature and Causes of The Wealth of Nations(Cofide 1776). [12] Bethan Staton, 'The Upstart Unions Taking on The Gig Economy and Outsourcing' (Financial Times, 20 January 2020) accessed 16 December 2020 [13] Employment Rights Act 1996,s212. [14] Trade Union and Labour Relations (Consolidation) Act (TULRCA)1992, s246. [15] Brian Smart, 'The Right to Strike and The Right to Work' (1985) 2 Journal of Applied Philosophy 31. [16] 'Industrial Action' (UNISON National) accessed 7 December 2020 [17] Bogg and Dukes (n 1), 478. [18] ibid, 478. [19] Article 18 of the Spanish Constitution and regulated by Royal Decree-Law 17/1977 of 4 March on Labour Relations ('RDLLR') and Article 4.1.e) of the Spanish Workers' Statute. [20] Article 40 of theItalianRepublic Constitution of 1948. [21] Collins, McColgan, and Ewing (n 5), 714. [22] RMT v Serco; ASLEF v London and Birmingham Railway [2011] EWCA Civ 226, [2011] ICR 848 [2]. [23] Metrobus Ltd v Unite the Union [2009] EWCA Civ 829, [2010] ICR 173 [118]. [24] South Wales Miners' Federation v Glamorgan Coal Co [1905] AC 239. [25] Collins, McColgan, and Ewing (n 5), 714. [26] (1853) 118 ER 749. [27] Taff Vale Railway Co vAmalgamated Society ofRailwayServants [1901] AC 426. [28] [1901] AC 495. [29] [2007] UKHL 21, [2008] 1 AC 1. [30] 'House of Lords Overhaul Economic Torts' (Herbert Smith Freehills, 17 May 2007) accessed 9 December 2020 [31] ibid. [32] OBG v Allan (n 29). [33] ibid, [37]. [34] Hazel Carty, 'The Economic Torts and English Law: An Uncertain Future' (2007) 95 Kentucky LJ 849. [35] Lonrho v Fayed [1990] 2 QB 479, 492-93. [36] Collins, McColgan, and Ewing (n 5), 714. [37] ibid, 714. [38] ibid, 849. [39] ibid, 848. [40] ibid, 847. [41] ibid, 847. [42] Cartey (n 34), 847. [43] ibid, 849. [44] Richard Kidner, 'Lessons in Trade Union Law Reform: The Origins and Passage of The Trade Disputes Act 1906' (2018) 2 Legal Studies 37. [45] Taff Vale (n 27). [46] Merriam-Webster,Merriam-Webster's Collegiate Encyclopedia(Merriam-Webster 2000) 1157. [47] Kidner (n 44), 47. [48] Bogg and Dukes (n 1), 478. [49] RMT and ASLEF (n 22) [2]. [50] Keith Ewing, 'The Right to Strike: From the Trade Disputes Act 1906 To A Trade Union Freedom Bill 2006' (Institute of Employment Rights, March 2013) accessed 11 December 2020. [51] The Editors of Encyclopedia Britannica, 'Trade Disputes Act' (Encyclopedia Britannica, 20 July 1998) accessed 11 December 2020. [52] Ewing (n 50). [53] Encyclopedia Britannica (n 51). [54] FA Hayek, 'Trade Union Immunity Under the Law' The Times (London, 21 July 1977) 15 accessed 11 December 2020 [55] Davidmann (n 10). [56] Hayek (n 54). [57] Alex Kitson, '1978-1979: Winter of Discontent' (Libcom.org, 24 January 2007) accessed 11 December 2020. [58] Cmd, 8128, 1981. [59] Cmd 821, 1989. [60] Trade Union Immunities (n 58), para 247. [61] Trade Union Reform and Employment Rights Act 1993, s238A. [62] TULRCA 1992, ss237-38. [63] Michael Ford and Tonia Novitz, 'Legislating for Control: The Trade Union Act 2016' (2020) 45 ILJ 227. [64] Bart Cammaerts, 'The Efforts to Restrict the Freedom to Strike and To Deny A Right to Strike Should Be Resisted Fiercely' (LSE Blogs, 14 September 2015) accessed 11 December 2020. [65] TUA 2016, s226(2)(a) (ii). [66] ibid, s226(2)(e). [67] ibid, s238A. [68] Ford and Novitz (n 63), 291. [69] ibid, 291. [70] ibid, 291. [71] ibid, 291. [72] ibid, 279. [73] Modernising Industrial Relations n.7. [74] Ford and Novitz (n 63), 279. [75] Ewing (n 50). [76] Brian Towers, 'Running the Gauntlet: British Trade Unions Under Thatcher, 1979-1988' (1989) 42 ILR Rev 163. [77] Gareth Thomas and Ian K Smith,Smith & Thomas' Employment Law(9th edn, OUP 2007), 737. [78] Davidmann (n 10). [79] Bogg and Dukes (n 1), 492. [80] Ruth Dukes, 'The Right to Strike Under UK Law: Not Much More Than A Slogan? NURMT v SERCO, ASLEF v London & Birmingham Railway Ltd' (2011) 40 ILJ 302, 309. [81] [1983] ICR 490. [82] Collins, McColgan, and Ewing (n 5), 847. [83] TULRCA 1992, s219. [84] ibid. [85] ibid, ss222, 224, and 226. [86] Dukes (n 80), 309. [87] Kalina Arabadjieva, 'Royal Mail Group Ltd v Communication Workers Union (CWU): Injunctions Preventing Industrial Action and The Right to Strike' (UK Labour Law, 6 March 2020) accessed 12 December 2020. [88] TULRCA 1992, s226. [89] Arabadjieva (n 87). [90] n 22. [91] [1996] ICR 170. [92] ibid, [180]-[182]. [93] Dukes (n 82), 309. [94] RMT and ASLEF (n 22), [2]. [95] Smith (n 4). [96] Ford and Novitz (n 63), 281. [97] Arabadjieva (n 87). [98] [2012] EWHC 267 (QB). [99] Keith Ewing and Alan Bogg, 'The Implications of The RMT Case' (2014) 40 ILJ 221, 222. [100] [2009] ECHR 2251. [101] 'The right to bargain collectively.' [102] Keith Ewing and John Hendy, 'The Dramatic Implications of Demir and Baykara' (2010) 39 ILJ 2. [103] Bogg and Dukes (n 1), 478. [104] ibid. [105] Dukes (n 82), 303. [106] n 23. [107] Dukes (n 82), 310. [108] Ewing and Bogg (n 99), 221. [109] RMT and ASLEF (n 22), [77]. [110] ibid, [82]. [111] ECHR Art 11 (2). [112] Ewing and Bogg (n 99), 251. [113] ibid, 221. [114] Arabadjieva (n 87). [115] Ewing and Bogg (n 99), 223. [116] ibid, 251. [117] Ford and Novitz (n 63), 282. [118] Ewing and Bogg (n 99), 223. [119] Thomas and Smith (n 77), 737. [120] Ewing and Bogg (n 99), 223. [121] Ministry of Justice, 'Government Launches Independent Review of the Human Rights Act' (Gov.uk, 7 December 2020) accessed 15 December 2020. [122] ibid. [123] Jamie Susskind, 'Jamie Susskind Comments on Sir Peter Gross' Lecture on Judicial Leadership' (Littleton Chambers) accessed 15 December 2020. [124] ibid. [125] ECHR Art 11. [126] Ruth Dukes, The Right to Strike Under UK Law: Something More Than A Slogan? Metrobus v Unite The Union [2009] EWCA Civ 829' (2010) 39 ILJ 1, 7. [127] ESC, Report of the Committee of Experts 2002. [128] Ewing and Bogg (n 99), 251. [129] Thomas and Smith (n 77), 737. [130] Bogg and Dukes (n 1), 478. [131] Metrobus (n 23) (Maurice Kay LJ). [132] Bogg and Dukes (n 1), 478. [133] Dukes (n 125), 9. [134] ibid, 7. [135] Richard Partington, 'UK Worker Strike Total Falls to Lowest Level Since 1893' (The Guardian, 30 May 2018) accessed 15 December 2020 [136] Smith (n 4). [137] ibid.

El objetivo principal de esta Tesis Doctoral es evaluar el desempeño financiero de las inversiones socialmente responsables (ISR). En las últimas décadas, la gestión de inversiones ha experimentado un proceso progresivo de adaptación en el que los objetivos financieros convencionales se han complementado con atributos no financieros como los criterios medioambientales, sociales y de gobernanza (ESG). Esta tendencia refleja una creciente conciencia sobre cuestiones ambientales, sociales y éticas que influye de manera importante en las decisiones de compra de los inversores (Mollet y Ziegler, 2014). La ISR atrae a inversores que desean ir más allá de la utilidad financiera de sus inversiones y que esperan una utilidad no financiera que refleje sus valores sociales (Auer, 2016; Auer y Schuhmacher, 2016). Los aspectos ESG se están convirtiendo en una parte importante del proceso de toma de decisiones de los inversores al ayudarles a identificar oportunidades y riesgos en el largo plazo. De acuerdo con el Global Sustainable Investment Review de 2016, en 2016 hubo 22,89 billones de dólares gestionados profesionalmente en el marco de estrategias de inversión responsable a nivel mundial, lo que representa un aumento del 25% desde 2014. En 2016, el 53% de los gestores en Europa utilizaron estrategias de inversión responsable, siendo esta proporción del 22% en EE.UU. y del 51% en Australia/Nueva Zelanda. Esta tendencia se ha ratificado para los dos últimos años. Los gestores de activos estadounidenses consideraron criterios ESG en su gestión por valor de 11,6 billones de dólares, un 44 por ciento más que los 8,1 billones de dólares de 2016 (USSIF, 2018). El informe EUROSIF (2018) también revela un crecimiento sostenido en Europa de las estrategias de inversión sostenibles. Los dos últimos años (2016-2018) muestran signos manifiestos de que la ISR se está convirtiendo en parte integrante de la gestión de los fondos europeos. La idea básica de la ISR es aplicar un conjunto de filtros al universo de inversión disponible con el fin de seleccionar o excluir activos en función de criterios ESG (Auer, 2016). En la práctica, existen diferentes estrategias ISR, como la integración, la selección positiva/best-in-class, la selección ética/negativa, la gobernanza, el compromiso, etc., todas ellas con el objetivo de dirigir los fondos hacia empresas socialmente responsables con proyectos y políticas constructivas y sostenibles. Desde la perspectiva de los inversores, la cuestión crítica es si la selección de acciones socialmente responsable conduce a ganancias o pérdidas en términos de rendimiento financiero. Por parte de las empresas, la cuestión es si el gasto de recursos en prácticas de responsabilidad social de las empresas (RSE) redundará en beneficio de la empresa y aumentará su valor. Si hacer el bien (social y medioambiental) está vinculado a hacerlo bien (financieramente), las empresas podrían verse incentivadas a comportarse de manera más sostenible. Una relación positiva entre el desempeño social y el financiero legitimaría incluso la RSE sobre razones económicas (Margolis et al. 2009). El crecimiento de la ISR y sus consecuencias ha estimulado la realización de estudios empíricos evaluando su comportamiento financiero. Una parte importante de la literatura se ha centrado en el rendimiento financiero de los fondos de inversión ISR. En general, estos estudios encuentran que no hay diferencias significativas en el desempeño financiero de fondos ISR y fondos de tipo convencional (Leite et al. 2018)2. Sin embargo, la evaluación del impacto financiero de la ISR mediante el análisis del rendimiento de los fondos de inversión ISR gestionados activamente presenta algunas deficiencias. Por ejemplo, como señalan Brammer et al (2006) y Kempf y Osthoff (2007), existen efectos confusos -como las habilidades de gestión del gestor y los honorarios y tasas por la gestión- que pueden dificultar la identificación del rendimiento de las ISR. Además, la evidencia de Utz y Wimmer (2014), Humphrey et al. (2016), y Statman y Glushkov (2016) sugiere que la etiqueta "socialmente responsable" puede ser una estrategia de marketing de los fondos, lo que suscitaría dudas entre los inversores sobre si un fondo ISR es realmente socialmente responsable. En consecuencia, los inversores pueden tener dificultades para saber en qué medida un fondo ISR tiene realmente en cuenta los criterios sociales en su proceso de selección. Para superar las limitaciones asociadas a los estudios sobre fondos de inversión ISR gestionados activamente, un enfoque alternativo para evaluar los efectos financieros de la ISR consiste en analizar el rendimiento de carteras sintéticas formadas utilizando características sociales, medioambientales y de gobernanza de las empresas. En esta Tesis Doctoral, seguimos este enfoque para evaluar las inversiones socialmente responsables. Esta Tesis Doctoral está organizada en dos secciones. La primera incluye los capítulos 1 y 2 en los que se evalúan algunos aspectos metodológicos relacionados con una medida de rendimiento financiero que se utiliza para evaluar el rendimiento financiero de la ISR en la sección dos. La segunda sección incluye los capítulos 3, 4, 5 y 6 en los que se evalúa el desempeño financiero de la ISR desde diferentes perspectivas. Primera Sección. En el Capítulo 1 se evalúa la utilidad de una estrategia de inversión sectorial basada en el modelo de tres factores de Fama y French (1992). En este capítulo desarrollamos un proceso de inversión, que hasta donde sabemos es nuevo, incluyendo en una cartera acciones que están infravaloradas con respecto a sus índices sectoriales, es decir, tomamos como factor de mercado relevante el índice sectorial al que pertenecen las empresas. Nuestro principal objetivo en este capítulo es comprobar si es posible conseguir de forma consistente una rentabilidad extraordinaria mediante una estrategia sectorial basada en el modelo de Fama y French (1992) para la toma de decisiones de inversión. En el Capítulo 2 se evalúa si el modelo Fama y French (1992) puede convertirse en una herramienta más versátil y flexible, capaz de incorporar las variaciones en las características de las empresas de una forma más dinámica. Específicamente, prestamos atención al procedimiento que siguen Fama y French (1992) para formar los factores de riesgo. Ellos toman datos anuales y evalúan las carteras de valor y tamaño una vez al año, manteniéndolas invariables durante todo el período. Sin embargo, observamos que las características de las empresas pueden variar durante un periodo de 12 meses. Argumentamos que en ese periodo la valoración de una empresa puede cambiar como resultado de, por ejemplo, variaciones en su precio de mercado, su tamaño o su precio en libros; sin embargo el modelo de Fama y French (1992) no refleja con precisión esta dinámica. Nuestro principal objetivo en este capítulo es probar la eficacia del modelo tomando datos mensuales y reformando las carteras de valor y tamaño al final de cada mes para desarrollar una herramienta más dinámica y adaptable. Segunda Sección. En el Capítulo 3 se evalúa el rendimiento financiero de carteras que pueden formar inversores minoristas con conciencia social en comparación con inversiones convencionales. Observamos que la mayoría de los estudios previos que evalúan el rendimiento financiero de la ISR se llevan a cabo desde la perspectiva de las decisiones de inversión de los inversores institucionales y no desde la perspectiva de los inversores particulares que desean mantener carteras ISR. Sin embargo, ha habido un aumento considerable de la popularidad de la ISR entre los inversores minoristas (Benijts, 2010). Nilsson (2015) destaca que los inversores particulares optan por dedicar al menos una parte de sus fondos a inversiones que incluyan algún tipo de preocupación social o medioambiental, convirtiéndose así en un factor importante en la configuración de la ISR. Según el Global Sustainable Investment Review de 2016, aunque el mercado ISR en la mayoría de las regiones está dominado por inversores institucionales profesionales, el interés de los inversores particulares por la ISR está adquiriendo relevancia. De hecho, la proporción relativa de inversiones en ISR al por menor en Canadá, Europa y Estados Unidos aumentó del 13 por ciento en 2014 al 26 por ciento a comienzos de 2016 (GSIA, 2016). El objetivo de este capítulo es evaluar el rendimiento de las carteras que pueden formar los inversores minoristas socialmente responsables en comparación con las inversiones convencionales. Utilizamos varias medidas de rendimiento financiero; entre otras, la desarrollada en el capítulo 2 de esta Tesis Doctoral. Como punto relevante para los inversores minoristas, para la selección de las empresas socialmente responsables acudimos a una fuente de información de acceso libre al público a la que puede acceder cualquier inversor minorista. Adicionalmente, en este capítulo analizamos el impacto que pueden tener diferentes estados del mercado (alcistas y bajistas) sobre el rendimiento financiero de las carteras ISR. Investigaciones recientes muestran que el rendimiento de fondos de renta variable ISR (Nofsinger y Varma, 2014; Becchetti et al., 2015, Leite y Cortez, 2015), fondos de renta fija de ISR (Henke, 2016) y empresas socialmente responsables (Brzeszczyński y McIntosh, 2014; Carvalho y Areal, 2016) son sensibles a diferentes estados del mercado. En el Capítulo 4 evaluamos el desempeño financiero de carteras de acciones construidas con criterios de RSC a nivel internacional. Observamos que los estudios previos que abordan el desempeño de las carteras sintéticas socialmente responsables adolecen de algunas limitaciones e inconsistencias, a saber: (1) la mayoría de los estudios previos se centran en los mercados bursátiles de EE.UU. y Europa; (2) con la excepción de Badía et al. (2017), los estudios anteriores no comparan el desempeño de las carteras de ISR de diferentes regiones del mundo; (3) existen estudios que miden la RSC sólo a través de una de sus dimensiones individuales, mientras que otros consideran medidas agregadas de la RSC; (4) la mayoría de los estudios no evalúan la influencia de la industria en el desempeño financiero de las carteras de acciones ISR; (5) en varios de los estudios que evalúan a empresas europeas, se utilizan muestras de tamaño reducido; (6) falta evidencia actualizada; y (7) algunos investigadores simplemente dividen los períodos de análisis en subperíodos para evaluar el ―efecto de tiempo‖, sin embargo, es posible que se haya descuidado un efecto importante, el impacto de diferentes estados del mercado sobre el rendimiento financiero. Nuestro principal objetivo en este capítulo es evaluar el rendimiento financiero de carteras construidas sobre la base de criterios RSC superando las limitaciones previas. Formamos carteras de acciones con valoraciones de sostenibilidad altas y bajas e investigamos el rendimiento de dichas carteras utilizando modelos multifactoriales. En este capítulo, ampliamos el análisis sobre el impacto de la utilización de filtros socialmente responsables en el rendimiento de las carteras de inversión a otras áreas geográficas (Norteamérica, Europa, Japón y Asia-Pacífico); comparamos el rendimiento financiero de las carteras ISR de estas regiones entre sí; formamos carteras basadas en una medida agregada de RSE, así como en tres de sus dimensiones específicas ESG; evaluamos la influencia de la industria en el rendimiento financiero de las carteras de acciones ISR; y, por último, evaluamos el rendimiento financiero de las carteras de acciones ISR en diferentes estados de los mercados: alcistas, bajistas y períodos de mercados mixtos. En el Capítulo 5 evaluamos el rendimiento financiero de carteras de deuda pública formadas según criterios ESG. Observamos que, aunque el concepto de ISR se relacionó originalmente con la selección de acciones, la proporción de inversores que aplican criterios ISR a bonos ha crecido significativamente en los últimos años. Según el Foro Europeo de Inversión Sostenible (EUROSIF, 2016), la renta variable representaba más del 30% de los activos de ISR en diciembre de 2015, lo que supone un descenso significativo respecto al 50% del año anterior. Por otra parte, se ha producido un fuerte aumento de los bonos, que han pasado del 40% registrado en diciembre de 2013 al 64%. Tanto los bonos corporativos como los bonos gubernamentales experimentaron un crecimiento notable. En este sentido, las implicaciones financieras de los procesos de selección ESG sobre bonos corporativos pueden estar estrechamente relacionadas con la selección de acciones, ya que los bonos corporativos están asociados a empresas. De hecho, estudios previos (por ejemplo, Derwall y Koedijk, 2009; Leite y Cortez, 2016) que evalúan el desempeño financiero de fondos que invierten en bonos de renta fija socialmente responsables, encuentran que en promedio tuvieron un desempeño similar al de los fondos convencionales. Estos resultados están en línea con la mayoría de los estudios empíricos sobre el desempeño de los fondos ISR que muestran que tienden a tener un desempeño similar al de sus pares convencionales (Revelly y Viviani, 2015). Sin embargo, los procesos de selección ESG sobre bonos gubernamentales, dado que no están relacionados con las empresas, pueden ayudar a comprender las consecuencias de la ISR para activos alternativos. A pesar del crecimiento del mercado de deuda pública ISR y del desarrollo de calificaciones de los países basadas en factores ESG en los últimos años, se ha pasado por alto el vínculo entre la rentabilidad de la deuda pública y el rendimiento de los países en términos de preocupaciones ESG. De hecho, hasta donde sabemos, ninguna investigación previa ha evaluado el rendimiento financiero de las inversiones responsables en bonos gubernamentales. El objetivo principal de este capítulo es llenar este vacío. Evaluamos el rendimiento financiero de carteras de deuda pública formadas según criterios ESG. A diferencia de estudios previos, en los que se aplican calificaciones de sostenibilidad de las empresas, se utilizan calificaciones de sostenibilidad relacionadas con los países. En el capítulo 6 se estudia un aspecto poco evaluado de la RSE: la distinción entre inversiones en cuestiones de sostenibilidad materiales e inmateriales. Sólo las empresas que se centran en cuestiones de sostenibilidad material asociadas a sus operaciones principales deberían lograr una ventaja competitiva y obtener un mayor rendimiento social y financiero. Las actividades de RSE y las innovaciones relacionadas deben realizarse sobre aspectos materiales, ya que de lo contrario no se debería espera un efecto positivo en el rendimiento financiero. De hecho, las inversiones en cuestiones inmateriales pueden implicar costes empresariales adicionales sin un rendimiento social y financiero asociado. Para las empresas es importante centrarse en las cuestiones materiales ya que de este modo invierten en aspectos sociales que realmente afectan a sus operaciones. A pesar de que temas como la seguridad de los productos, el cambio climático y la intensidad en el uso de los recursos tienen impactos en varias industrias, como señalan Herz and Rogers (2016), esos efectos a menudo varían en gran medida de una industria a otra. Los riesgos pueden estar en todas partes, aunque también son particulares. Como consecuencia, las empresas de diferentes industrias tienen sus perfiles de sostenibilidad particulares. Es probable que una empresa que invierte sobre temas de sostenibilidad material en su industria logre un desempeño financiero positivo. Mientras tanto, es probable que una empresa que invierte en cuestiones de sostenibilidad materiales pero también inmateriales no logre un rendimiento financiero superior. En este capítulo, el objetivo principal es evaluar el rendimiento financiero de carteras de acciones formadas en función de cuestiones de RSC materiales e inmateriales. Khan et al (2016) muestran que las empresas estadounidenses con un fuerte desempeño en aspectos materiales superan a las empresas con un desempeño pobre en temas materiales. Nuestro conjunto de datos incluye empresas de estadounidenses y Europa. De este modo, ampliamos las pruebas anteriores de Khan et al. (2016) a las empresas europeas. La evaluación de las empresas estadounidenses y europeas es particularmente interesante dada la heterogeneidad de las pautas de desarrollo de la ISR en los distintos países (Neher y Hebb, 2015). En este capítulo utilizamos las puntuaciones de las empresas a partir de un conjunto de datos original que integra los estándares del Mapa de Materialidad SASB que, hasta donde sabemos, no se ha utilizado antes en este contexto. ; The main objective of this Doctoral Thesis is to evaluate the financial performance of socially responsible investments (SRI). In recent decades, investment management has undergone a progressive adaption process in which conventional financial objectives are increasingly being complemented by non-financial attributes such as environment, social and governance (ESG) criteria. This trend reflects an increasing awareness of environmental, social, and ethical issues that is strongly influencing the purchase decisions of investors (Mollet and Ziegler, 2014). SRI appeals to investors who wish to go beyond the financial utility of their investments and also derive non-financial utility from holding securities that reflect their social values (Auer, 2016; Auer and Schuhmacher, 2016). Additionally, ESG issues are becoming an important part of investors' decision-making process by helping them to identify firms' long-term opportunities and risks. According to the 2016 Global Sustainable Investment Review, in 2016 there were $22.89 trillion of assets being professionally managed under responsible investment strategies globally, representing an increase of 25% since 2014. In 2016, 53% of managers in Europe used responsible investment strategies, this proportion being 22% in the US and 51% in Australia/New Zealand. This tendency has been ratified recently for the last two years. US asset managers considered ESG criteria across $11.6 trillion in assets, up 44 percent from $8.1 trillion in 2016 (USSIF, 2018). The EUROSIF (2018) report discloses sustained growth for most sustainable and responsible investment strategies. The past two years (2016-2018) show manifest signs of SRI becoming integral to European fund management. The basic idea of SRI is to apply a set of screens to the available investment universe, in order to select or exclude assets based on ESG criteria (Auer, 2016). In practice, there is a range of SRI strategies, such as integration, positive/best-in-class screening, ethical/negative screening, governance and engagement, etc. All of these aim to drive funds towards socially responsible firms with constructive sustainable projects and policies. From an investors' perspective, the critical issue is whether socially responsible stock selection leads to gains or losses in terms of financial performance. On the firms' side, the question is whether spending resources on corporate social responsibility (CSR) practices will render benefits for the firm and increase its value. If doing good is indeed linked to doing well, firms may be led to behave in a more sustainable way. A positive relationship between social and financial performance would even legitimize CSR on economic grounds (Margolis et al. 2009). The growth of SRI and its consequences has stimulated empirical studies assessing financial behaviours. An important stream of the literature has focused on the financial performance of SRI mutual funds. In general, these studies find that there are no significant differences between the performance of SRI mutual funds and conventional funds (Leite et al. 2018). However, assessing the financial impact of SRI by evaluating the performance of actively managed SRI mutual funds has some shortcomings. For instance, as Brammer et al. (2006), and Kempf and Osthoff (2007) point out, there are confounding effects - such as fund manager skills and management fees - that may make it difficult to identify the performance that is due to the social characteristics of the underlying holdings. Furthermore, the evidence of Utz and Wimmer (2014), Humphrey et al. (2016), and Statman and Glushkov (2016) suggests that the 'socially responsible' label may be more akin to a marketing strategy, thus raising doubts among investors that an SRI fund is really socially responsible. As a consequence, investors may find it difficult to know the extent to which an SRI fund is really considering social criteria in its selection process. To overcome the limitations associated to studies on actively managed SRI mutual funds, an alternative approach to evaluate the financial effects of SRI involves evaluating the performance of synthetic portfolios formed on assets' social characteristics. In this Doctoral Thesis, we follow this approach to evaluating socially responsible investments. This Doctoral Thesis is organized in two sections. The first includes chapters 1 and 2 in which we evaluate some methodological aspects related to a financial performance measure which is used to assess the financial performance of SRI in Section two. The second Section includes Chapters 3, 4, 5, and 6 in which we evaluate the financial performance of SRI from different perspectives. First Section. In Chapter 1 we assess the usefulness of a sector investment strategy based on the three-factor Fama and French (1992) model. We develop an investment process that is, as far as we know, new by including stocks that are undervalued with respect to their sector indices in a portfolio. We take as the relevant market factor the sector index to which firms belong. We base the strategy on the difficulty entailed in effectively choosing the appropriate market portfolio (Roll, 1977).Our main objective in this chapter is to test whether it is possible to consistently achieve extra-financial returns by means of a sector strategy using the Fama and French model (1992) as a basis for decision-making. In Chapter 2 we evaluate whether the Fama and French (1992) model may be adapted to become a more versatile and flexible tool, capable of incorporating variations of firms characteristics in a more dynamic form. We pay attention to the procedure that Fama and French (1992) follow to form the risk factors. They take annual data, and the value and size portfolios are assessed once a year, maintaining invariability during the whole period. However, we note that firms' characteristics can change during any given 12-month period. We argue that, over time, firms' valuation may change as a result of variations in its market price, size or book price, and we are aware that the Fama and French (1992) model does not accurately reflect these dynamics. Our main objective in this chapter is to test the effectiveness of the model by taking month-to-month data and reforming the value and size portfolios at the end of each month, aiming to develop a more dynamic and adaptable tool. Second Section. In Chapter 3 we evaluate the financial performance of portfolios that can be formed by socially conscious retail investors compared to conventional investments. We note that most previous studies evaluating the financial performance of SRI are conducted from the perspective of institutional investors' investment decisions and not from the perspective of retail investors who wish to hold SRI portfolios. Nonetheless, there has been a considerable increase in the popularity of SRI among retail investors (Benijts, 2010). Nilsson (2015) highlights that retail investors choose to devote at least part of their funds to investments that include some kind of social or environmental concerns, thereby having become an important factor in shaping SRI. According to the 2016 Global Sustainable Investment Review, although the SRI market in most of the regions is dominated by professional institutional investors, retail investors' interest in SRI is gaining relevance. Indeed, the relative proportion of retail SRI investments in Canada, Europe and the United States increased from 13 percent in 2014 to 26 percent at the start of 2016 (GSIA, 2016). Furthermore, over one third of SRI assets in the United States come from retail investors. The objective of this chapter is to assess the performance of portfolios that can be formed by socially responsible retail investors compared to conventional investments. We use several financial performance measures. Among others, that developed in chapter 2 of this Doctoral Thesis. As a relevant point to retail investors, we use stocks listed on a source freely available to the public that any retail investor may access. Additionally, we analyse the impact of different market states on the financial performance of SRI portfolios. Recent research shows that the performance of SRI equity funds (Nofsinger and Varma, 2014; Becchetti et al., 2015, Leite and Cortez, 2015), SRI fixed-income funds (Henke, 2016), and socially responsible stocks (Brzeszczyński and McIntosh, 2014; Carvalho and Areal, 2016) is sensitive to different market states (e.g., expansion and recession periods). In Chapter 4 we evaluate the financial performance of international stock portfolios based on CSR criteria. We note that previous studies that address the performance of socially screened synthetic portfolios suffer from some limitations and inconsistencies, namely, (1) the majority of prior evidence only refers to the US and European stock markets; (2) with the exception of Badía et al. (2017), previous studies do not compare the performance of SRI portfolios of different regions worldwide; (3) there are studies that measure CSR through one of its individual dimension only, whereas others consider an aggregate construct of CSR; (4) most studies do not evaluate the influence of specific industries on the financial performance of SRI stock portfolios; (5) in several studies assessing European firms, undersized samples are used; (6) up-to-date evidence is lacking; and (7) some researchers who split sample periods merely into sub-periods to evaluate a 'time effect', i.e., whether SRI returns were better in earlier years and yet declined in more recent periods, may have neglected an important effect, specifically, the impact of different market states. Our main objective in this chapter is to evaluate the financial performance of international stock portfolios based on CSR criteria aiming to overcome previous limitations in the evaluation of SRI stock portfolio performance. We form portfolios of stocks with high and low sustainability scores and investigate the performance of such portfolios using multi-factor models. In this chapter, we extend the analysis on the impact of including socially responsible screens on investment portfolios performance to additional geographical areas (North America, Europe, Japan, and Asia Pacific); we compare the financial performance of SRI portfolios of these regions to each other; we form portfolios based on an aggregate measure of CSR as well as on three of its specific ESG dimensions; we evaluate the influence of specific industries on the financial performance of SRI stock portfolios; and finally, we assess the financial performance of SRI stock portfolios over different market states: bear, bull and mixed market periods. In Chapter 5 we evaluate the financial performance of government bond portfolios formed according to ESG criteria. We note that although the concept of SRI was originally related to stock selection, the proportion of portfolio investors applying SRI criteria to bonds has grown significantly in recent years. According to the European Sustainable Investment Forum (EUROSIF, 2016), equities represented over 30% of SRI assets in December 2015, a significant decrease from the previous year's 50%. Meanwhile, there was a strong increase in bonds from the 40% registered in December 2013 to 64%. Both corporate bonds and government bonds underwent a remarkable growth. The former rose from 21.3% to 51.17% of the bond allocation, while the latter increased from 16.6% to 41.26%.In this regard, the financial implications of ESG screening processes on corporate bonds may be closely related to stock selections since corporate bonds are associated with firms. Indeed, previous studies (e.g., Derwall and Koedijk, 2009; Leite and Cortez, 2016) which evaluate the financial performance of mutual funds that invest in socially responsible fixed-income stocks, find that the average SRI bond funds performed similarly to conventional funds. These results are in line with most empirical studies about the performance of SRI funds, which show that they tend to have a similar performance to their conventional peers (Revelly and Viviani, 2015). However, ESG screening processes on government bonds, since they are not related to firms, can help gain an in-depth understanding of SRI consequences for alternative assets. Despite the SRI government bond market growth and the development of country ratings based on ESG factors in recent years, the link between government bond returns and country performance in terms of ESG concerns has been overlooked. In fact, to the best of our knowledge, no previous research has evaluated the financial performance of responsible government bond investments. The main objective of this chapter is to fill this gap. We assess the financial performance of government bond portfolios formed according to ESG criteria. We thus open a discussion on the financial performance of SRI for an alternative asset to firms.In contrast to previous studies, which apply firm sustainability ratings, we use sustainability ratings related to countries. In Chapter 6 we ascertain a less assessed aspect in CSR: distinguishing between investments in material versus immaterial sustainability issues. We note that only firms focused on material sustainability issues associated with their main operations should achieve a competitive advantage and obtain a higher social and financial performance. CSR activities and innovations should be performed on material aspects since otherwise a positive effect on financial performance is not expected. Indeed, investments on immaterial issues may involve additional corporate costs without a social and financial performance associated return. Focusing on material issues is important for firms since they do investments in social aspects that truly affect their operations. Despite issues as prod¬uct safety, climate change, and resource intensity have impacts across several industries, as Hertz et al. (2016) note, those effects often vary to a great extent from one industry to the next. Risks may be everywhere, although they are indeed also particular. As a consequence, firms of specific industries have their particular sustainability profiles. Thus, a firm investing and reporting on material sustainability issues is likely achieved positive financial performance. Meanwhile, a firm investing on material but also on immaterial sustainability issues is likely not achieved superior financial performance. In this chapter, the main objective is to assess the financial performance of stock portfolios formed according to material and immaterial CSR issues. Khan et al. (2016) show that US firms with strong performance on material aspects outperform firms with poor performance on material topics. Our dataset includes companies from US and Europe. We thus extend the previous evidence of Khan et al. (2016) to European firms. Evaluating firms from US and Europe is particularly interesting given the heterogeneity in the patterns of development of SRI across countries (Neher and Hebb, 2015). Furthermore, we use firm' scores from an original dataset that integrates the SASB Materiality Map standards which, to our knowledge, has not been used before.

Inhaltsangabe: Introduction: Ghettos of poor and unemployed people, homeless people, families relying on food banks, sick people without health insurance. There is a long list of people which comes into our minds when we think about poverty and people who are affected by it. If we search for an exact definition of poverty we will not find a single, universally accepted standard definition of it. Poverty is hardly measurable. Every interpretation is affected by credos of value. The ethical correctness of these trails to valuate poverty is scientifically not concluding appraised. The European Union's working definition of poverty is: 'Persons, families and groups of persons whose resources (material, cultural and social) are so limited as to exclude them from the minimum acceptable way of life in the Member State to which they belong'. This definition is the basis of the valuations of poverty in this assignment. The variety of poverty shows how many groups of people in particular are at risk of becoming poor. In Germany the gap of income and the number of poor people in the society increased from the year 2000 to the year 2005 faster than in any other country of the OECD. Causes are the high unemployment rate in the year 2005 and a significant gap of income. Nobody can be excluded if we talk about the poor ones in future. High income during employment does not mean that there is enough money for times of unemployment or old-age-pension. When thinking about poverty we should never forget of what advantage it is to have a high old-age pension when you are lonesome and you have to pay for every help you need? Policy options have to be divided in to groups: Actions to prevent poverty. Actions to help people out of poverty. From a scientific point of view there is only one thing needed to stay out of poverty: enough money to sustain your expenditures. Therefore a well paid job is necessary. Minimum wages are a controversially discussed topic during the last months. Only an occupation with an adequate salary is good for covering all costs. Another crucial point is to secure the old age pensions. Due to this the Federal Government promotes a 3-layer programme. The tax policy is also a point which can be influenced by the state. Prevention of excessive indebtness and a adequate asset accumulation are also important topics. Proper education is a crucial point to prevent poverty and likewise the core measure to get out of poverty. Only good education opens the doors to the well paid jobs. Some social groups are usually not able to get out of poverty on their own. Therefore help is needed. Especially for single parents, families with many children, drug addicts and disabled people as well. Proper programmes for social housing or for improving language skills are often helpful for the poor. Here, the government has countless options to help people, but the realty is often different. In the fight against poverty the Federal government starts several actions to avoid and to help people out of poverty. The central statements behind these actions are: Every person should secure his life by gainful employment at first. Furthermore specific social transfer benefits should help to secure basic needs, especially for families. They directly stress the responsibility of the successful fight against poverty lying in the hands of everyone. Especially one aspect implied in the first statement is important for every citizen: Gainful employment, everyone himself is responsible for, gives the chance to secure life. In the past poverty and employment were inseparably connected and mutual exclusive. As employment was taken poverty was banned, in case of unemployment poverty threatened. Today especially the first statement is no longer true without restrictions. The effectiveness of employment as major driver in avoiding and helping out of poverty was weakened. The reason is the increase of low-wage employees. The belief gainful employment can always secure life is no longer true. The actual problem in Germany is a high amount of fully-employed people becoming poor. The expression 'working poor' describes working full-time in one and even more jobs earn wages under the existence minimum. Labour unions claim legal minimum wages in the different lines of business. The Confederation of German Employers BDA demands the negotiation of minimum wages by the bargaining parties, employer associations and labour unions. The free social market economy of Germany may not be influenced by law. The Federal Government established and renewed the 'Mindestarbeitsbedingungsgesetz' and 'Arbeitnehmer-Entsendegesetz', which do not give legal minimum limits. The laws ease the establishment of minimum wages in business lines. Low wages and the difference of income are one reason of the gap between rich and poor. To even this income differences the federal government introduce the progressive income tax rate. It attenuates the inequality of the gross incomes. But the gap between rich and poor is only less affected by the tax policy. The other reason for the gap between rich and poor is the difference of assets. The gap increases because the middle-class decreases. More and more people become poor. Poor people are not able to establish coverage by accumulating asset. People who are able to accumulate asset need the right strategy. Capital investments offer different strategies to accumulate asset, from conservative to risky. In the actual financial crises many people and companies have lost much asset. The trust of savers in the banking system and especially in shares hits the rock bottom. Today every possibility to accumulate asset is questioned. The coverage in old-age was formerly granted by legal pensions. But legal pensions are no longer safe, as it was belief for a long time. The 'three-layer-concept' of retirement provision offers possibilities to close the increasing gap. The intention is to support the conventional public old-age pension by two additional layers. Nevertheless every layer and every kind of provision has its own particularities which should be considered. Poor and unemployed people are often threatened by indebtedness. Especially unemployed people are not able to pay back their bills and become excessively indebted soon. To leave this hopeless way debt relief and employment are the best means. In insolvency proceedings the debt relief is pronounced. From the year 2002 until now the annual increase of insolvency proceedings decreases. Additionally the average amount of indebtedness decreases in these years too. The basic requirement for employment and therefore a central driver to avoid and to help out of poverty is education. Federal Chancellor Angela Merkel proclaimed the 'Educational Republic of Germany'. One reason for her reaction is secondary general schools are in trouble. After graduation many youngsters stay in the transitional system for too long. They don't find a vocational education. Another reason is even the vocational education has a problem. The participation in the Dual System in the vocational education decreases from 51.2 percent to 42.6 percent in 2005. This is an alarming development. Although the tendency is declining in the year 2005 to 2006 the efficiency of the Dual System should be improved even more. Forecasts of the employment market show a growing demand for highly qualified employees between 2003 and 2020. The demand for low qualified people will reduce. According this forecast qualification and competence become the securing means of future, for everyone at anytime. This can only be granted by lifelong learning. Besides the stated major effects of policy options affecting the whole society there are some groups of people, which need special support: Single parents, families with many children, people addicted to drugs, homeless, disabled and migrated people are treated in detail.Inhaltsverzeichnis:Table of Contents: Executive SummaryI Table of contentsVI List of AbbreviationsIX List of FiguresX List of TablesXII 1.Introduction1 2.Problem Definition2 3.Objectives3 4.Methodology4 5.The Fight Against Poverty5 5.1Poverty – A Definition5 5.2How to Measure Poverty7 5.3The Variety of Poverty7 5.3.1Key Factors of the Risk of Becoming Poor7 5.3.2Poverty Among Poor Educated People8 5.3.3Child Poverty9 5.3.4Poverty of Seniors10 5.3.5Poverty Among Handicapped People12 6.The International Day for the Eradication of Poverty14 7.Poverty in Germany15 7.1The Risk-of-Poverty-Line in Germany15 7.2The Present Situation in Germany17 8.Prospective Poor People19 8.1Outsiders of Today are the Poor of Tomorrow19 8.2An Income Above the Average is No Relaxing Situation20 9.Policy Options Against Poverty21 9.1Actions to Avoid Poverty22 9.1.1Minimum Wages22 9.1.2Securing Pensions23 9.1.3Tax Policy27 9.1.4Asset Accumulation27 9.1.5Prevent Excessive Indebtedness28 9.1.6Education28 9.1.7Basic Education29 9.1.8Vocational Education29 9.1.9Lifelong Learning30 9.2Actions to Help People Out of Poverty30 9.2.1Education30 9.2.2Help for Single Parents31 9.2.3Language Skills32 9.2.4Aid for Families with Many Children32 9.2.5Help People Out of Drug-Addiction32 9.2.6Social Housing33 9.2.7Disabled People33 10.Reality – How Political Options Impact on Life The Status Quo – Facts35 10.1Policy Options to Avoid Poverty Impact Reality36 10.1.1Effects of the Policy Option 'Minimum Wages'38 10.1.2Effects of Policy Options to Secure Pensions41 10.1.3Effects of the Tax Policy45 10.1.4Effects of Asset Accumulation46 10.1.5Effects of Policy Options to Prevent Indebtedness48 10.1.6Effects of Policy Options to Improve Education50 10.1.7Basic Education in Reality51 10.1.8Vocational Education in Reality54 10.1.9Lifelong Learning in reality55 10.2Policy Options to Help out of Poverty Impact Reality56 10.2.1Education56 10.2.2Effects of Policy Options to Support Single Parents56 10.2.3Effects of Policy Options to Improve Language Skills57 10.2.4Effects of Policy Options to Support Families with Many Children59 10.2.5Effects of Policy Options Against Drug-Addiction60 10.2.6Effects of the Policy Option 'Social Housing'63 10.2.7Effects of Political Options to Support Disabled People65 11.Results68 12.Conclusion69 13.Integral Total Management (ITM) – Checklist70 13.1General Economics70 13.2Strategic Management70 13.3Marketing70 13.4Financial Management70 13.5Human Resources Management70 13.6Business Law70 13.7Research Methods/Management Decision Making70 13.8Soft Skills/Leadership71 14.Bibliography72Textprobe:Text Sample: Chapter 9.1.3, Tax Policy: Tax policy is the whole of tax actions of a state with policy objectives. Through tax policy the state pursuits the aim to generate income to cover all expenditures. The state is able to pursuit socio-political aims through tax reduction or tax increase. An effective instrument to even the income differences is in particular a progressive in-come tax rate. Within the tax reform of 2000 the Federal Government decreased the in-come tax rate radically. According to the judgement of the Federal Constitutional Court that the minimum living wage must be tax free, the German government increased the tax free level virtually every year. This goes along with a decrease of the marginal tax rate from 25.9% in 1998 to 15.0% in 2005. 9.1.4, Asset Accumulation: Having savings in the bank is a good way to avoid poverty. In times of unemployment citizens are able to draw money from the bank and cover the financial gaps without being dependent on public benefits. The Federal government offers mainly two types of investment: Savings. Acquisition of shares. These are both appropriate to accumulate assets on a long range. 9.1.5, Prevent Excessive Indebtedness: Debts are always a fast way to cross the poverty line! Therefore is very important to prevent indebtedness before it begins. In 2002 approx. 9% of all households in Germany were over-indebted. Debtors are often not able to solve the problem on their own. For that reason they need help. The government financed debt counselling and measures for debt relief. This came along with a programme to educate indebted people. 9.1.6, Education: The significance of education to prevent poverty is indisputable. School education and vocational qualification are the best way to participate on the job market as well as the best protection against unemployment and poverty. The European Union regards a graduation from secondary school as minimum qualification to participate in modern knowledge society and for the best prospects on the job market. In January 2008 the Federal Cabinet approved the draft law for the qualification initiative (i. e. Qualifizierungsinitiative). It mainly contains actions to: Improve education opportunities for children younger than six years of age. Improve the permeability in the education system. Improve the way to be promoted. Improve the options of further education. 9.1.7, Basic Education: Education does not start in school. Potentials of children should in fact be developed earlier and dependent on their age. Kindergartens, beside the family, have as places for infantile education a particular duty. In kindergartens talents – even from children of underprivileged families – may foster at an early stage and learning difficulties may be discovered early. Primary schools cover the first four years of schooling (in Berlin and Brandenburg six years). They are attended by all children and provide basic education, preparing children for secondary schools. At the end of primary school parents and teachers have to decide which type school the pupils should attend further on. Available are: Secondary general schools (i. e. Hauptschulen). Intermediate schools (i. e. Realschulen). Grammar schools (i. e. Gymnasien). Comprehensive schools (i. e. Gesamtschulen). Special schools (i. e. Förderschulen). This affects the life and future job options of the child profoundly. Therefore promotion of primary school pupils is essential. One out of eleven pupils in a grammar school lives in poverty, but every second in a secondary general school. Poverty is one causal reason for bad education. Out of 100 children who were considered to be poor during kindergarten only four manage to archive the entry qualification for grammar school – compared to 30 in well-off families. These are the results of a long term study by the Workers Welfare Federal Association from 1997 to 2005. 9.1.8, Vocational Education: A Certificate of Education (minimum: Certificate of Secondary Education / Hauptschulabschluss) is necessary to get a proper chance on the apprenticeship market. The Federal Government takes actions to educate juveniles in the dual system of vocational education to decrease the number of untrained youngsters. Because a qualified apprenticeship is crucial for partaking and fulfilment in the community and the best protection against the risk of unemployment and income poverty. 9.1.9, Lifelong Learning: Learning will not end after school, vocational training or university degree. Learning is an essential mean to shape an individual's chances in life. Lifelong learning is the keyword for coping with the job market, to finally get a school's or a vocational qualification or just for further training. Once archived qualifications are less and less sufficient to cope with the challenge of business and community. Continuing learning all lifelong is becoming more and more important to secure the participating on the job market permanently. The partaking in further education is low in Germany - compared to other countries. In particular, people with lower qualification do not take part in further qualification sufficiently. 9.2, Actions to Help People Out of Poverty: 13.5 % citizens of the total population live below the poverty line. These need help to become better off and – even more important – stay below the line. 9.2.1, Education: As stated in chapter 9.1.6 proper education is the best way to prevent poverty, but it's also a lasting way to get out of it. People with no or only basic education have a strictly limited access to well paid jobs or no access jobs at all. In 2006 7.9 % of all pupils left school without any graduation. However, without any graduation the prospects of an apprenticeship are very small. Thereby the vicious circle of poverty starts turning. The government provides different measures to help juveniles and adults to improve their education: Help to get the Certificate of Secondary Education (i. e. Hauptschulabschluss). Help to get an apprenticeship. Help to make the change from Secondary Education to higher education entrance qualification easier. Olaf Scholz (Secretary of State for Employment) even recommended a legal claim to achieve a Certificate of Secondary Education. This should be financed by the Federal Employment Office. But he wasn't able to convince the CDU-parliamentary group.

Norbert Michel and Jai Kedia


A few weeks ago, American Compass released Rebuilding American Capitalism, A Handbook for Conservative Policymakers. This Forbes column (American Compass Points To Myths Not Facts) provided a very brief critique of the handbook's "Financialization" chapter, and Oren Cass, American Compass's Executive Director, released a response titled Yes, Financialization Is Real.
This Cato at Liberty post is the fourth in a series that expands on the original criticisms outlined in the Forbes column. (The first three in the series are available here, here, and here.) This post demonstrates the evidence does not support American Compass's claims regarding investment. It also further documents American Compass's failure to clearly specify terms and dates, as well as its selective use of examples that appear to support its positions.
To recap, the American Compass handbook states the following:
American finance has metastasized, claiming a disproportionate share of the nation's top business talent and the economy's profits, even as actual investment has declined." [Emphasis added.]

As with profits, the "Financialization" chapter does not specify a single preferred measure of investment or any time frame for analysis. It simply complains that "In recent decades…actual investment has declined." [Emphasis added.] The original critique stated, "The claim that investment has declined is also easily verified as false," and then used National Income and Product Account (NIPA) data to show "investment in fixed assets has been steadily increasing since 1970, a trend that holds even if the data is adjusted for inflation."
Cass takes issue with the original critique's use of absolute investment dollars rather than investment as a share of GDP. Cass's response states:
Of course, investment rises in absolute dollars as the American population grows and economy expands. Who would claim otherwise? The question is what has happened relative to GDP.

Yet, American Compass uses the term actual investment in the introduction to the "Financialization" chapter and purposely uses aggregate data in levels when doing so suits its purpose. But importantly, American Compass fails to settle on any definition of investment.
Here's a list of direct quotes describing investment from the "Financialization" chapter:
Unfortunately, in the United States, productive business investment has been in long‐​term decline and the financial industry now specializes in trading assets around in circles. [Emphasis added, no dates given.]
Economy‐​wide, business investment has fallen significantly as a share of GDP. [Emphasis added, no dates given.]
They instead become savers themselves by acquiring financial assets, effectively deferring the earthy and material work of productive capital investment to others. [Emphasis added, no dates given.]
Statistically, this transition began in the 1980s, as the share of corporate investment in tangible assets declined and the acquisition of financial assets climbed. [Emphasis added.]
Despite this ambiguity, Cass's response insists that readers should know exactly what investment data American Compass's handbook is referring to because "the Rebuilding American Capitalism handbook is a synthesis of our analysis and recommendations and provides copious references to further reading alongside each proposal." So, here's a list of direct quotes from two other American Compass reports, none of which provide a clear answer:
Actual‐​investment, by which I mean the allocation of capital toward the development of new productive capacity—the building of structures, the installment of machines, the creation of intellectual property—has been weakening in America for decades now. [Found in "The Rise of Wall Street and the Fall of American Investment" – emphasis added.]
As non‐​investors have overrun the banks and markets and taken control of corporations, actual‐​investment has slowed. The nation's capital base is smaller by literally trillions of dollars as a result, representing untold enterprises never built, innovations never pursued, and workers never given opportunity. [Found in "The Rise of Wall Street and the Fall of American Investment" – emphasis added.]
Net non‐​residential fixed investment as a share of GDP has fallen by almost half, from 4.1% in the 1970s and 80s to 2.5% in the 2010s. [Found in "The Rise of Wall Street and the Fall of American Investment" – emphasis added.]
The classic categories of investment, structures and equipment, account for 87% of the nation's capital base and the rate of investment there has been declining in both gross and net terms. [Found in "The Rise of Wall Street and the Fall of American Investment" – emphasis added.]
Net investment as a share of value‐​add averaged 4.3% during 1998–2000 and then 0.5% during 2002-04. During 2000–17, the average was 2.2%, leading to a $1.0 trillion shortfall over the period, relative to the 1970–99 rate. [Found in "The Rise of Wall Street and the Fall of American Investment" – emphasis added.]
As we have seen, the cumulative gross investment shortfall during 2009–17 as compared to 1970–99 amounted to $3.4 trillion. [Found in "The Rise of Wall Street and the Fall of American Investment" – emphasis added.]
Nationwide, net investment as a share of GDP has fallen sharply, and the shortfall since the Great Recession totals roughly $3 trillion (equivalent to the excess outflow from public companies). [Found in "Confronting Coin‐​Flip Capitalism" – emphasis added.]
This creates a vicious cycle in which business leaders pursuing promising opportunities become harder to find, further encouraging the financial sector to develop strategies for deriving profits disconnected from actual investment. [Found in "Confronting Coin‐​Flip Capitalism" – emphasis added.]
From 2009 to 2017, the nation needed $22.9 trillion in gross investment to match the average growth rate of the capital stock during 1970–99 (3.8% of GDP annually). Instead, investment totaled only $19.6 trillion. [Found in "Confronting Coin‐​Flip Capitalism" – emphasis added.]
Even the market fundamentalists—indeed, especially the market fundamentalists—recognize that higher investment levels would be beneficial. [Found in "Confronting Coin‐​Flip Capitalism" – emphasis added.]
Setting aside American Compass's failure to explain whether any of these versions of investment is its single preferred measure of investment to study "financialization," it is true that there are many ways to describe investment. Indeed, there are even many different time periods, inflation adjustments, aggregation issues, and sub‐​components of investment that influence how an aggregate investment series behaves.
Moreover, if investment (however defined) declines, or declines slower than some metric, that fact alone would not be evidence that investment is less than optimal. While many American Compass reports imply investment is suboptimal, American Compass has not provided evidence that investment is less than what it should be.
Take, for instance, American Compass's claim that "Net non‐​residential fixed investment as a share of GDP has fallen by almost half, from 4.1 percent in the 1970s and 80s to 2.5 percent in the 2010s." If American Compass believes that that 4.1 percent was the optimal share in 1970, and a 1.6 percentage point lower share in the 2010s "threatens our future prosperity" and requires America to rebuild capitalism, then the least it can do is state a clear hypothesis and make an empirical case. Such critics cannot simply argue that a lower number is less than optimal. (For what it's worth, American Compass's "The Corporate Erosion of Capitalism" also fails to provide such evidence – it is merely an accounting exercise without any economic analysis of the optimal levels of real investment individual firms need to sustain their own operations.)
It turns out, though, that the long‐​term trend in most of these investment measures is not decreasing. The only way to show that "investment" has declined is to selectively define the measure and period for analysis. Otherwise, it is impossible to say that investment has declined.
Regardless, there is no inherent economic reason that investment, whether in absolute amounts or relative to GDP, whether net or gross, or real or nominal, must constantly increase. A developed economy with evolving working patterns, for instance, would not need to constantly invest more in new corporate structures.
Similarly, the rate of growth of investment does not have to constantly match or exceed GDP (or profit) growth in any historical period. The mere fact that some metric of investment grows slower than some other economic measure – even for an extended period – does not indicate that the economy will be harmed much less that "financialization" caused the "slow" growth.
Our analysis now turns to the actual time series of real investment and real GDP, respectively (see Figure 1 and Figure 2). Contrary to what Cass claims in his response, the right question is not always "what has happened [to investment] relative to GDP." (Even if it was the correct question, simply dividing investment by GDP would not adequately account for confounding factors such as population growth, the cost of investment, productivity, feedback loops, etc.) Bluntly, it is not at all clear that using a relative measure is the "right" way to look at investment.









Figure 1: Real Gross Private Investment in the U.S., Annual from 1929 to 2022









Figure 2: Real Gross Domestic Product in the U.S., Annual from 1929 to 2022
For starters, nobody invests in amounts relative to GDP, and even American Compass often refers to levels of investment. Regardless, there are some basic mathematical issues that suggest, at the very least, researchers must be very careful drawing inferences from relative investment measures.
As Figure 1 and Figure 2 show, real (gross private domestic) investment and real GDP both display a sharp upward trend. However, the two series exhibit an enormous difference in size and volatility – the standard deviation of investment growth is five times greater than for GDP growth. A 20 percent year‐​to‐​year decline in investment is normal, but it would be highly unusual for GDP. Moreover, any decline in the ratio can easily mask the causal relationship between investment and economic growth.
Put differently, GDP is stable but one of its components – investment – fluctuates rapidly. This stability arises as investment accounts for only 13 percent of GDP on average and fluctuations in investment can be offset by counter‐​cyclical fluctuations in other components of GDP, such as consumption or fiscal spending. Consequently, measuring investment relative to GDP can give the appearance that something dreadful has happened even though such deviations may be the result of a perfectly normal economy, even one with optimal decision making.
Investment's high volatility is a commonly known macroeconomic fact. Benchmark macro models dating back to the start of macroeconomic modeling itself have highlighted investment's significant volatility in comparison to the rest of the economy. Successes of models since then are measured (at least in part) by whether their simulated time series can match the observed volatility of macro indicators such as investment.
Leaving the appropriateness of using levels aside, we now examine nominal investment relative to nominal GDP (i.e., the investment‐​to‐​GDP ratio), as well as several of its component measures. (See Figure 3.) These nominal metrics are available from 1929, but in fairness to American Compass, we only present the data from 1950 onwards. The series exhibits high volatility between 1929 and 1950 and starting the graph in 1929 biases the data toward a steeper increasing trend for investment and its component measures. (Incidentally, replicating Figure 3 with real investment and GDP figures also shows the ratio exhibiting an increasing trend.[1])
As Figure 3 shows, the investment‐​to‐​GDP ratio exhibits variation around a very mildly increasing trend for all of modern U.S. economic history. As for component measures, non‐​residential investment has grown significantly as a share of the economy, offsetting the decline in the share of residential investment. Finally, net private domestic investment has declined over time. From this set of investment measures, focusing only on net private domestic investment to argue "actual investment" has declined equates to selectively using a sub‐​component of investment while ignoring others.









Figure 3: Investment Metrics as Share of NGDP in the U.S., Annual from 1950 to 2022
Of course, there are still many other ways to describe investment. Assume, for example, that net nonresidential (or business) investment is the "right" measure to analyze, as Cass's response suggests. Figure 4 presents real net business investment and its subcomponents from 1967 to 2021.[2] It shows that net business investment exhibits a sharp increasing trend. (Figure 3 showed that nonresidential investment as a share of GDP exhibits an increasing trend.) While the trends are not as steep for the subcomponents, Figure 4 shows that net investment in business equipment and intellectual property also display increasing trends. However, net business investment in structures exhibits a decreasing trend. (Interestingly, in The Rise of Wall Street and the Fall of American Investment, American Compass groups structures and equipment together to demonstrate that investment in "Structures & Equipment" is declining.)









Figure 4: Real Net Nonresidential Investment and its Components in the U.S., Annual from 1967 to 2022
Obviously, it would make little sense to argue that "actual investment" is declining by focusing only on the decline in the net structure subcomponent, or any other component of investment for a shorter period. Put bluntly, American Compass is incorrect to use declines in any of these subcomponents to argue that there is some kind of broad decline in investment.
Still, the trends in these subcomponents on Figure 4 are even more problematic for American Compass. Not only do the trends contradict that investment is in a general decline, but American Compass's story requires an explanation for: (1) why the highly developed U.S. economy needs constantly increasing growth in structures; and, (2) how "financialization" is responsible for a decline in structure investment and a simultaneous increase in equipment and IP investment.
It is also worth noting that while there's nothing inherently wrong with using net investment figures, as American Compass sometimes does, neither the Bureau of Economic Analysis's depreciation estimates nor accounting depreciation perfectly coincide with economic depreciation. In other words, even when someone fully depreciates a piece of equipment for tax or accounting purposes, it does not mean that the equipment is no longer useful and must be immediately replaced.
More generally, from a macroeconomic perspective, there is no reason to distinguish between different sub‐​components of investment. The primary macro indicator of economic health is real GDP growth away from trend (or similar metrics such as output gap and unemployment). Investment is a means of facilitating capital accumulation and it is not immediately clear why one component of it is necessarily better than any other. This is why seminal empirical economic papers always focus on investment as an aggregate. Even highly cited papers that explicitly model net investment don't bother to include it in their results, instead focusing again on aggregate investment.
Overall, aggregate investment in the United States is not in decline. Yet, American Compass relies on a wide array of investment descriptions, in various time periods, to argue that American investment is in a general decline and below optimal levels. American Compass's error is only compounded by its imprecise definition of financialization. This combination of errors leaves American Compass with little more than a set of stories that appear to provide evidence financial markets threaten American capitalism.
In the next post, we will conclude this series by discussing American Compass's flawed characterization of Americans' income.


[1] It may seem unintuitive that shares would be different between nominal and real variables (prices on the numerator and denominator should cancel out), but the relative price of investment has changed significantly in comparison to overall GDP. Specifically, the deflator for investment has been significantly higher than for GDP, equalizing only since the 2010s.


[2] The BEA provides values for sub‐​components of investment that only go back to 1967.

The videos and speeches of the Bradley prize winners are up. My video here (Grumpy in a tux!), also the speech which I reproduce below. All the videos and speeches here (Betsy DeVos and Nina Shea) My previous interview with Rick Graeber, head of the Bradley foundation. Bradley also made a nice introduction video with photos from my childhood and early career. (A link here to the introduction video and speech together.) And to avoid us spending all our talks on thanking people, they had us write out a separate thanks. That seems not to be up yet, but I include mine below. I am very thankful, humbled to be included in such august company, and not so boorish that I would not have spent my whole talk without mentioning that, absent the separate opportunity to say so. Bradley prize remarks (i.e. condense three decades of policy writing into 10 minutes): Creeping stagnation ought to be recognized as the central economic issue of our time. Economic growth since 2000 has fallen almost by half compared with the last half of the 20th Century. The average American's income is already a quarter less than under the previous trend. If this trend continues, lost growth in fifty years will total three times today's economy. No economic issue — inflation, recession, trade, climate, income diversity — comes close to such numbers.Growth is not just more stuff, it's vastly better goods and services; it's health, environment, education, and culture; it's defense, social programs, and repaying government debt.Why are we stagnating? In my view, the answer is simple: America has the people, the ideas, and the investment capital to grow. We just can't get the permits. We are a great Gulliver, tied down by miles of Lilliputian red tape.  How much more can the US grow? Looking around the world, we see that even slightly better institutions produce large improvements in living standards. US taxes and regulations are only a bit less onerous than those in Canada and the UK, but US per capita income is 40% greater. Bigger improvements have enormous effects. US per capita income is 350% greater than Mexico's and 950% greater than India's. Unless you think the US is already perfect, there is a lot we can do. How can we improve the US economy? I offer four examples.I don't need to tell you how dysfunctional health care and insurance are. Just look at your latest absurd bill. There is no reason that health care cannot be provided in the same way as lawyering, accounting, architecture, construction, airplane travel, car repair, or any complex personal service. Let a brutally competitive market offer us better service at lower prices. There is no reason that health insurance cannot function at least as well as life, car, property, or other insurance. It's easy to address standard objections, such as preexisting conditions, asymmetric information, and so on.How did we get in this mess? There are two original sins. First, in order to get around wage controls during WWII, the government allowed a tax deduction for employer-based group plans, but not for portable insurance. Thus preexisting conditions were born: if you lose your job, you lose health insurance. Patch after patch then led to the current mess. Second, the government wants to provide health care to poor people, but without visibly taxing and spending a lot. So, the government forces hospitals to treat poor people below cost, and recoup the money by overcharging everyone else. But an overcharge cannot stand competition, so the government protects hospitals and insurers from competition. You'll know health care is competitive when, rather than hide prices, hospitals spam us with offers as airlines and cell phone companies do.  There is no reason why everyone's health care and insurance must be so screwed up to help the poor. A bit of taxing and spending instead — budgeted, appropriated, visible — would not stymie competition and innovation. Example 2: Banking offers plenty of room for improvement. In 1933, the US suffered a great bank run. Our government responded with deposit insurance. Guaranteeing deposits stops runs, but it's like sending your brother-in-law to Las Vegas with your credit card, what we economists call an "incentive for risk taking." The government piled on regulations to try to stop banks from taking risks. The banks got around the regulations, new crises erupted, new guarantees and regulations followed. This spring, the regulatory juggernaut failed to detect simple interest rate risk, and Silicon Valley Bank had a run, followed by others. The Fed and FDIC bailed out depositors and promised more rules. This system is fundamentally broken. The answer: Deposits should flow to accounts backed by reserves at the Fed, or short-term treasuries. Banks should get money for risky loans by issuing stock or long term debt that can't run. We can end private-sector financial crises forever, with next to no regulation. There is a lesson in these stories. If we want to improve regulations, we can't just bemoan them. We must understand how they emerged. As in health and banking, a regulatory mess often emerges from a continual patchwork, in which each step is a roughly sensible repair of the previous regulation's dysfunction. The little old lady swallowed a fly, a spider to catch the fly, and so on. Now horse is on the menu. Only a start-from-scratch reform will work.Much regulation protects politically influential businesses, workers, and other constituencies from the disruptions of growth. Responsive democracies give people what they want, good and hard. And in return, regulation extorts political support from those beneficiaries. We have to fix the regulatory structure, to give growth a seat at the table.  Economists are somewhat at fault too. They are taught to look at every problem, diagnose "market failure," and advocate new rules to be implemented by an omniscient, benevolent planner. But we do not live in a free market. When you see a problem, look first for the regulation that caused it.Example 3: Taxes are a mess, with high marginal rates that discourage work, investment and production; disappointing revenue; and massive, wasteful complexity. How can the government raise revenue while doing the least damage to the economy? A uniform consumption tax is the clear answer. Tax money when people spend it. When earnings are saved, invested, plowed into businesses that produce goods and services and employ people, leave them alone.Example 4: Bad incentives are again the unsung central problem of our social programs.  Roughly speaking, from zero to about sixty thousand dollars of income, if you earn an extra dollar, you lose a dollar of benefits. Fix the incentives, and more people will get ahead in life. We will also better help the truly needy, and the budget.Some more general points unite these stories:Focus on incentives. Politics and punditry are consumed with taking from A to give to B. Incentives are far more important for economic growth, and we can say something objective about them. Find the question. Politics and punditry usually advance answers without stating the question, or shop around for questions to justify the same old answers. Most people who disagree with the consumption tax really have different goals than funding the government with minimum economic damage. Well, what do you want the tax system to do? State the question, let's find the best answer to the question, and we can make a lot of progress.Look at the whole system. Tax disincentives come from the total difference between the value your additional work creates and what you can consume as a result. Between these lie payroll, income, excise, property, estate, sales, and corporate taxes, and more, at the federal, state, and local level. Greg Mankiw figured his all-in marginal tax rate at 90%, and even he left out sales, property, and a few more taxes. Social-program disincentives come from the combined phaseout of food stamps, housing subsidies, medicaid or Obamacare subsidies, disability payments, tax credits, and so on, down to low-income parking passes. And look at taxes and social programs together. A flat tax that finances checks to worthy people is very progressive government, if you want that. Looking at an individual tax or program for its disincentives or progressivity is silly. The list goes on. Horrible public education, labor laws, licensing laws, zoning, building and planning restrictions, immigration restrictions, regulatory barriers, endless lawsuits, prevailing-wage and domestic-content rules, are all sand in the productivity gears. Oh, and I haven't even gotten to money and inflation yet! And that just fixes our current economy. Long-term growth comes from new ideas. Many economists say we have run out of ideas; growth is ending; slice the pie. I look out the window and I see factory-built mini nuclear power plants that the Nuclear Regulatory Commission is strangling; I see a historic breakthrough in artificial intelligence, facing an outcry for the government to stop it. I see advances in biology that portend much better health and longevity, but good luck getting FDA approval or increasingly politicized research funding.Many conservatives disparage this "incentive economics" as outdated and boring. That attitude is utterly wrong. Incentives, and the freedom, rights, and rule of law that preserve incentives, remain the key to tremendous and widespread prosperity. And it is hard work to understand and fix the incentives behind today's problems.Yes, supply is less glamorous than stimulus. "Fix regulations" is a tougher slogan than "free money for voters." Efficiency requires detailed reform in every agency and market, the Marie-Kondo approach to our civic life. But it's possible. And we don't need to reform all the dinosaurs. As we have seen with telephones, airlines, and taxis, we just need to allow new competitors, to allow the buds of freedom to grow.Many people ask, "How can we get leaders to listen?" That's the wrong question. Believe in democracy, not bending the emperor's ear. Take action. My fellow prizewinners have grabbed the levers of influence that belong to citizens of our free society, and done hard work of reforming its institutions. And ideas matter. The Hoover Institution motto is "ideas defining a free society." The Bradley Foundation tonight celebrates good ideas, and is devoted to spreading them. When voters, media, the chattering classes, and institutions of civil society understand, advance and apply these ideas, politicians will swiftly follow.   Notes:Growth: Real GDP 1950:I was $2186 billion, and per capita $14500; in 2000:I, $12935 and per capita $45983; in 2022:IV, $20182 and per capita 60376. From these numbers, average log real GDP growth 1950-2000 was 3.56% From 2000-2002, 1.96%. In per capita terms,  2.31% and  1.20%. (2.31-1.20)x22 = 24.4. Cross-country comparison: Calculations based on purchasing-power-adjusted GDP per capita: US $69,287, Canada $52,790, UK $50,890, Mexico $19,587, India $7,242. Source: https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD The PPP adjustment tries to take account that some things are cheaper in other countries. Converting at the exchange rate produces even larger differences. US $70.248, Canada $51,987, UK $46,510, Mexico $10,065, India $2,256. Source: https://data.worldbank.org/indicator/NY.GDP.PCAP.CDMankiw: http://www.nytimes.com/2010/10/10/business/economy/10view.htmlThanksI have been fortunate to benefit from the effort, time, wisdom and affection of so many people, and many institutions that supported their efforts.Of course it starts with my parents, Eric and Lydia Cochrane. They expected children to think and speak at the family dinner table. They exposed me to different cultures, on the south side of Chicago and in Italy, sometimes beyond my desires. They set an example by how they lived: They steadfastly followed their intellectual pursuits with extreme honesty. They treated people with a radical egalitarianism. And then left me alone to pursue my own passions. I was lucky to learn from some extraordinary and dedicated teachers, at the Ancona Montessori School, the U of C Lab school, Italian public schools, and Kenwood high school. There, in an inner city public school, Arlene Gordon (Math), Judith Stein (English) Walter Sherrill (Chemistry) and especially Joel Hofslund (Physics) gave me absolutely first rate experience. Thanks also to Ed Shands' patient coaching of our swim team. I moved on to MIT to study physics. This was more impersonal, and a difficult time for me, but as it turned out a superb education in the kind of mathematical modeling essential to economics. I went on to study economics at the University of California at Berkeley. Faculty took PhD teaching seriously, not just of their own research, and I soaked it up. I thank especially my advisers, Roger Craine, Tom Rothermberg, and George Akerlof.  Many of their lessons are vivid today, but like my parents they provided only gentle guidance and feedback on my own imperfect quests. I was supremely luck to land a job at the University of Chicago. I learned a tremendous amount in the wide open collegial atmosphere at Chicago, thanks in large part to Lars Hansen and Gene Fama, but also colleagues too numerous to mention in this short space.  Generations of MBA and PhD students also pushed me hard to understand economics and became lifelong friends and colleagues. At just the right moment Hoover came calling, allowing me the time and institutional support to blossom as a public intellectual and commenter as well as an academic. A special thanks to John Raisin for that. No man is an island. The world of ideas is a conversation. Everything I know has been shaped by teachers, friends, colleagues, collaborators, students, journal editors, referees, and others who took the time and effort to help me think about things. Many small interactions have had a crucial effect on my life. A coffee conversation at a conference with John Campbell resulted in our best known academic paper. A lunch conversation with Luigi Zingales produced my first public writing during the financial crisis. As a result, Amity Shlaes invited me to a conference. Howard Dickman, then at the Wall Street Journal, liked my presentation and asked, "Why don't you write opeds for us?" I answered, "Why don't you stop rejecting them?" My oped career was born. And so forth. I thank these and many more, and lady luck who put us together. Of course my greatest thanks go to my wonderful wife, Elizabeth Fama. We met the night I returned to Chicago. It was love at first sight. We were engaged on the second date. She has been my best friend and constant companion ever since, though marriage to a passionate researcher, busy teacher and lover of time consuming sports cannot have been easy. Together we raised four amazing children, Sally, Eric, Jean, and Lake, who fill my heart with love, and now that they are grown a bit of nostalgia. 

This guidance report is a product of activity 4.1 under work package 4 "Best practices in chemicals management in the industry" of the HAZBREF-project. This report addresses the chemical industry and its two sub-sectors: manufacture of large volume inorganic chemicals (with the focus on production of fertilizers) and polymers. The other case sectors are textile industry and surface treatment of metals and plastics which are addressed in separate reports. Aims, areas of interest, methodology and structure This sector-specific report provides guidance to key actors at national level (chemical industries and competent authorities) on how to improve chemical management at installation level. In this respect, it takes reference to relevant requirements such as the Industrial Emission Directive (IED) and the sectoral Best Available Techniques Reference Documents (BREFs). The findings of the guidance, especially concerning BAT candidates in chapter 5, will also feed into the anticipated forthcoming revision of the BREFs for the Chemical industry sectors (LVIC and possibly others). They are further used for HELCOM recommendations on how to reduce the discharge of hazardous substances into the Baltic Sea. The document summarises key findings of interviews and discussions with HAZBREF experts, representatives from chemical industry and relevant authorities as well as insights from case studies in Finland, Estonia and Sweden. In addition to that two polymer installations in Poland were selected for analysing circular economy issues. The report focuses on prevalent practices and challenges related to the IED permitting process, with special reference to hazardous chemicals for polymer and fertilizer installations. The report also reflects findings of other Work packages under HAZBREF and refers to recommendations published under the European Union Network for the Implementation and Enforcement of Environmental Law (IMPEL). The first chapter of the report provides a short introduction to the scope of this report. The second chapter provides an introduction to the chemical sector, focusing on Europe and the production of fertilizers and polymers. The third chapter describes relevant hazardous chemicals related to the production of fertilizers and polymers, regulatory framework for the hazardous chemicals and both regulatory and non-regulatory chemical reference lists. The section also describes how identification of relevant substances in the polymer and fertilizer industry can be done. The fourth chapter describes legal obligations laid down in IED, REACH, CLP, WFD and other relevant legislation as well as recommendations from HELCOM. It also contains information about using and producing safety data sheets and exposure scenarios. Furthermore, it describes how chemical inventories can be developed and how substance flow analysis (SFA) and material flow analysis (MFA) can be used. It also contains a short description of how to use an interactive scheme, developed in HAZBREF, for the identification of relevant hazardous substances. Best practice in chemical management and identification of BAT candidates are described in the fifth section. The section also contains guidance on chemical management system (CMS), chemical and raw material inventories, chemical storage and transportation, optimization of process integrated recycling, substitution, process mapping of hazardous substances, management of hazardous waste and waste water treatment. The section contains both generally applicable practices and recommendations on BAT candidates. Most of the BAT candidates are applicable to all installations. All the BAT candidates are described in detail in Annex 1. The sixth section explains the different steps of the IED permitting procedure and provides guidance and good practices and recommendations to both operators and permitting authorities on how to carry out the respective steps with particularly focusing on good chemicals management. Circular economy issues in the polymer sector and findings from the case studies are described in the seventh section. Main findings and proposals Chemical industry covers many types of different processes and installations. There are many laws regarding the installation, and this leads to challenges in chemical management for both operators and authorities. The requirements from authorities are based on law but often the companies have their own programs and rules which are stricter than the requirements based on current law. The authorities need a lot of knowledge on chemical issues, but this information is not always readily available. Proposal for improvement of chemical management system A Chemical Management System (CMS) provides a systematic way of managing chemicals. The CMS can be integrated with the Environmental Management System (EMS). The purpose of the CMS is to control the chemicals and hazardous substances at the site, increase knowledge of the characteristics, risks and impact and improve the processes to reduce emissions of hazardous substances. The HAZBREF project recommends the use of a CMS following the principles described as BAT candidate 1 in Annex 1. HAZBREF also recommends that a requirement to establish and maintain a CMS at installations is included to the revised BREFs. Proposal for development of inventories and databases In order to know which hazardous substances are used or generated at the site, a chemical inventory is needed. It is important to list all types of chemicals and raw materials used in all processes and activities at the site in a database. The chemical list or database is a key part of chemical management allowing for systematic risk assessment, management of chemicals flows and their storage. It is also useful in the permitting processes as it provides easy access to data for chemicals used in the installations. The information in the chemical list/database must be searchable and the list should be updated regularly. Most of the information needed is available in the safety data sheets (SDS). If some information is missing from the SDS, the supplier should be asked to provide this. The HAZBREF project recommends the development and use of a chemical and raw material inventory following the principles described as BAT candidate 2 in Annex 1. HAZBREF also recommends that such a requirement to perform inventories at installations is included to the revised BREFs. Proposal for quality and use of safety data sheets To allow for efficient chemicals management, it must be assured that all SDS keep a good quality level. If a chemical supplier fails to provide SDS with good quality, it is the duty of both the operator and the competent authority to demand the missing information from the chemical supplier. Better SDSs, including improved data on environmental hazards, and exposure scenarios would make risk assessment of individual chemicals in specific process easier for the installations. This would lead to more efficient monitoring and help to focus more on most the problematic substances. The SDSs of raw materials should contain more information on impurities. Also, the chemical inventory could be improved if detailed data about the impurities or intentionally added constituents would be available in SDS. Exposure Scenarios are not usually directly usable for the operators. Sector specific environmental release categories (SPERCs), based on measurements and info about the typical environmental fate of substances in the sites could help but they have not yet been developed for many industrial uses. Proposal for process mapping of hazardous substances In order to be able to take measures to reduce emissions of hazardous substances, good knowledge of the production processes is needed. One way to do this is to use process mapping of hazardous substances. The purpose of the method is to identify the mass flows and release routes of the substances. The purpose is also to optimise monitoring and identify cost efficient ways to reduce emissions. The process mapping is a tool which supports the chemical inventory. The HAZBREF project recommends mapping of hazardous substances following the principles described as BAT candidate 3 in Annex 1. Proposal for substitution Substitution is an important measure to minimise chemical risks at the installation. A successful substitution work can be performed in four stages; Identification of hazardous substances - Screening for possible alternatives - Evaluation and choice of alternatives and Development of new alternatives. Regrettable substitution should be avoided. Proposal for the permitting process The permit process should be streamlined with more communication during the application phase between the applicant and permitting authorities and communication with WWTP operators should be ensured in case of indirect emissions. More co-operation between chemical, environmental and occupational health authorities is suggested to achieve smooth information flow and reduce double work. More exchange of information and good experiences between Member States would in the long run also contribute to more harmonised and better practices on European level. The format for a chemical inventory should be standardised. An appropriate approach is given in Annex 5. It is the duty of the operator to provide information in a way that it can be quickly assessed and that conclusions in the form of permit requirements, stipulations and conditions can be more easily drawn. ; Denna vägledningsrapport har tagits fram inom aktivitet 4.1 i arbetspaket 4 "Bästa praxis för kemikaliehantering i branschen" i HAZBREF-projektet. Rapporten behandlar den kemiska industrin och dess två delsektorer: produktion av oorganiska högvolymkemikalier (med fokus på produktion av gödselmedel) och polymerer. Textilindustrin och ytbehandling av metaller och plast behandlas i separata rapporter. Mål, intresseområden, metodik och struktur Denna sektorsspecifika rapport ger vägledning till nyckelaktörer på nationell nivå (kemiska industrier och behöriga myndigheter) om hur man kan förbättra kemikaliehanteringen på anläggningsnivå. I detta avseende hänvisas till relevanta krav, såsom industriutsläppsdirektivet (IED) och referensdokumenten för bästa tillgängliga teknik (BREF). De resultat som redovisas i vägledningen, särskilt beträffande BAT-kandidater i kapitel 5, kommer också att ingå i kommande revision av BREF-dokument för kemisk industri (LVIC och eventuellt andra). De används vidare för HELCOM-rekommendationer om hur man kan minska utsläppen av farliga ämnen i Östersjön. Rapporten sammanfattar viktiga resultat från intervjuer och diskussioner med HAZBREF-experter, representanter från kemisk industri och relevanta myndigheter samt från genomförda fallstudier i Finland, Estland och Sverige. Även två polymerverksamheter i Polen har analyserats med avseende på cirkulär ekonomi. Rapporten fokuserar på tillämpningar och utmaningar relaterade till IEDtillståndsprocessen, och speciellt på användningen av farliga kemikalier i polymeroch gödselmedeltillverkning. Rapporten återspeglar också slutsatserna från andra arbetspaket i HAZBREF-projektet och hänvisar till rekommendationer som publicerats av Europeiska unionens nätverk för genomförande och efterlevnad av miljölagstiftningen (IMPEL). Det första kapitlet i rapporten ger en kort introduktion av tillämpningsområdet. Det andra kapitlet ger en introduktion till den kemiska sektorn med fokus på Europa och produktion av gödselmedel och polymerer. Det tredje kapitlet beskriver relevanta farliga kemikalier relaterade till produktion av gödselmedel och polymerer, regelverk för de farliga kemikalierna och både reglerande och icke-reglerande kemiska referenslistor. Kapitlet beskriver också hur identifiering av relevanta ämnen i polymer- och gödselmedelsindustrin kan göras. Det fjärde kapitlet beskriver krav enligt IED, REACH, CLP, WFD och annan relevant lagstiftning samt rekommendationer från HELCOM. Det innehåller också information om användning och framtagande av säkerhetsdatablad och exponeringsscenarier. Vidare beskrivs hur kemikalieinventeringar kan utvecklas och hur substansflödesanalys och materialflödesanalys kan användas. Den innehåller också en kort beskrivning av hur man använder ett interaktivt verktyg, utvecklat i HAZBREF, för identifiering av relevanta farliga ämnen. Bästa praxis för kemikaliehantering samt identifiering av BAT-kandidater beskrivs i det femte kapitlet. Kapitlet innehåller också vägledning om kemikaliehanteringssystem, kemikalie- och råvaruinventeringar, lagring och transport av kemikalier, optimering av processintegrerad återvinning, substitution, processkartläggning av farliga ämnen, hantering av farligt avfall och avloppsvattenbehandling. Kapitlet innehåller både allmänt tillämplig praxis och rekommendationer om BATkandidater. De flesta av BAT-kandidaterna är allmänt tillämpliga. Alla BATkandidater beskrivs i detalj i bilaga 1. Det sjätte kapitlet förklarar de olika stegen i tillståndsförfarandet enligt IED och ger vägledning, goda exempel och rekommendationer till både verksamhetsutövare och tillståndsmyndigheter om hur man utför respektive steg med särskilt fokus på bra kemikaliehantering. Frågor om cirkulär ekonomi inom polymersektorn och resultat från fallstudier beskrivs i det sjunde kapitlet. Huvudsakliga resultat och förslag Kemisk industri omfattar många olika typer av processer och verksamheter. Det finns många lagar som gäller för verksamheterna, och detta leder till utmaningar i kemikaliehantering för både operatörer och myndigheter. Kraven från myndigheter är lagbaserade men ofta har företagen egna program och regler som är strängare än kraven enligt gällande lag. Myndigheterna behöver mycket information om kemikaliefrågor, men denna information är inte alltid lättillgänglig. Förslag till förbättring av kemikaliehanteringssystem För att veta vilka farliga ämnen som används eller uppkommer i verksamheten krävs en kemikalieinventering. Det är viktigt att lista alla typer av kemikalier och råvaror som används i verksamheten i en databas. Kemikalielistan eller databasen är en viktig del av kemikaliehanteringen och möjliggör systematisk riskbedömning, hantering av kemikalieflöden och kemikalielagring. Det är också användbart i tillståndsprocesserna eftersom det ger enkel åtkomst till data för de kemikalier som används i verksamheterna. Informationen i kemikalielistan/databasen måste vara sökbar och listan bör uppdateras regelbundet. Merparten av den information som behövs finns i säkerhetsdatabladen. Om viss information saknas i säkerhetsdatabladet bör leverantören uppmanas att lämna denna. HAZBREF-projektet rekommenderar framtagande och användning av en kemikalie- och råvaruinventering enligt principerna som beskrivs som BAT-kandidat 2 i bilaga 1. HAZBREF rekommenderar också att framtagande och användning av kemikalie- och råvaruinventeringar förs in som krav i de reviderade BREF-dokumenten. Förslag rörande kvalitet och användning av säkerhetsdatablad För att möjliggöra effektiv kemikaliehantering måste det säkerställas att alla säkerhetsdatablad håller en god kvalitetsnivå. Om en kemikalieleverantör inte tillhandahåller säkerhetsdatablad av god kvalitet, är det både operatörens och den behöriga myndighetens skyldighet att kräva den saknade informationen från kemikalieleverantören. Bättre säkerhetsdatablad, inklusive förbättrad data om risker för miljön, och exponeringsscenarier skulle göra riskbedömning av enskilda kemikalier i specifika processer enklare för verksamheterna. Detta skulle leda till effektivare övervakning och bidra till att fokusera på de mest problematiska ämnena. Säkerhetsdatablad för råvaror bör innehålla mer information om ingående föroreningar. Kemikalieinventeringen skulle också kunna förbättras om detaljerade data om föroreningar eller avsiktligt tillsatta beståndsdelar skulle finnas tillgängliga i säkerhetsdatabladen. Exponeringsscenarier är vanligtvis inte direkt användbara för operatörerna. Sektorsspecifika miljöutsläppskategorier (SPERC), baserade på mätningar och information om ämnens karakteristik och typiska rörelsemönster på anläggningen kan hjälpa, men de har ännu inte utvecklats för många industriella användningar. Förslag till processkartläggning av farliga ämnen För att kunna vidta åtgärder för att minska utsläppen av farliga ämnen behövs god kunskap om produktionsprocesserna. Ett sätt att få det är att göra processkartläggningar av farliga ämnen. Syftet med metoden är att identifiera ämnets massflöde och läckagevägar. Syftet är också att optimera övervakningen och identifiera kostnadseffektiva sätt att minska utsläppen. Processkartläggningen är ett verktyg som stöder kemikalieinventeringen. HAZBREF-projektet rekommenderar kartläggning av farliga ämnen enligt principerna som beskrivs som BAT-kandidat 3 i bilaga 1. Förslag till substitution Substitution är en viktig åtgärd för att minimera kemiska risker vid verksamheten. Ett framgångsrikt substitutionsarbete kan utföras i fyra steg; Identifiering av farliga ämnen - Screening efter möjliga alternativ - Utvärdering och val av alternativ och Utveckling av nya alternativ. Substitution som senare kan komma att ångras bör undvikas. Förslag till förbättring av tillståndsprocessen Tillståndsprocessen bör effektiviseras genom mer kommunikation under ansökningsfasen mellan den sökande och tillståndsmyndigheterna och även med reningsverkets operatörer vid indirekta utsläpp. Mer samarbete mellan kemikalie-, miljö- och arbetsmiljömyndigheter föreslås för att uppnå ett smidigt informationsflöde och minska dubbelarbete. Mer utbyte av information och goda erfarenheter mellan medlemsstaterna skulle på sikt också bidra till mer harmoniserad och bättre praxis på europeisk nivå. Hur en kemikalieinventering ska vara utformad bör standardiseras. En lämplig metod ges i bilaga 5. Det är operatörens skyldighet att tillhandahålla information så att den lätt kan bedömas och att slutsatser i form av tillståndskrav och villkor lättare kan dras.

The demand for functional and smart textiles has risen nowadays due to the lifestyle change of human beings. Along with this, the production of functional and smart textiles is consistently increasing. However, the conventional dyeing and finishing methods used to produce the functional textiles have issues such as the requirement of a large amount of fresh-water, energy, and chemicals and the associated wastewater pollution which poses harmful effect to humans, animals, and the environment. Moreover, due to the stringent environmental legislation on effluent release and hence the necessity of wastewater treatment, it has also become an economic problem for the textile industry. Thus, the textile industry has nowadays focused on alternative green technologies and eco-friendly chemical agents to minimize these problems. In this regard, supercritical carbon dioxide (scCO2) dyeing technique is a promising alternative to conventional aqueous-based methods as it avoids the use of water, uses less energy, and fewer chemicals minimizing the waste generation which is important to improve the ecological footprint and reduced production cost. Owing to these important attributes, scCO2 dyeing has been investigated in the last three decades as an environmentally benign process and now it is commercially successful in an industrial scale for dyeing polyester fibres. Thus, employing this technique to textile functionalization can bring additional economic and environmental benefits for the textile dyeing and finishing industry. Nevertheless, only a few attempts have been made so far in using this technology for textile finishing despite having promising potentials. This thesis used scCO2 dyeing technology intending to explore its potential to the production of functional and smart textiles. To fulfil this, firstly, different functional dyes and functional finishing agents of interest suitable for scCO2 media were selected based on literature data and some screening experiments. Based on this, chitosan very low molecular weight and lactate derivatives, curcumin natural dye, and two commercial photochromic dyes based on spirooxazine and naphthopyran dye classes were selected. Secondly, these agents were incorporated into the polyester fabric using scCO2 impregnation technique to impart range functionalities such as antimicrobial, antioxidant, UV protecting and smart UV-sensor fabrics. Moreover, the functional and colour performances of these functional textiles and the effects of the processing variables on the functional/colour properties were explored. Besides, the thesis includes the production of pH sensing functional fabric with a halochromic molecule using photo grafting technique as an alternative resource-efficient method. The results showed that scCO2 is a viable technique for the production of functional polyester fabric in a resource-efficient and eco-friendly way. Dyed polyester fabric with additional functionalities such as antimicrobial, antioxidant, UV protection, and UV sensing properties were realised in a single step. The fabrics developed have demonstrated desirable colour and functional properties without affecting each other confirming compatibility. Moreover, the functional fabrics exhibited the required durability and fastness properties sufficient for various applications. This thesis contributes towards widening the application of supercritical CO2 dyeing technique further and paves a way for sustainable production of functional and smart textiles in a resource-efficient and eco-friendly way. Moreover, the functionalization of cotton fabric with a pH indicator dye using the photo-grafting technique was successful and exhibited good halochromic property towards different pH environments with potential application in several smart textile areas. ; Efterfrågan på funktionella och smarta textilier har under senare tid ökat på grund utav människans förändrade livsstil. I samband med detta ökar ständigt produktionen utav funktionella och smarta textilier kontinuerligt. Dock har de konventionella färgnings- och beredningsmetoder som används för att producera funktionella textilier vissa tillkortakommanden såsom: användandet av stora kvantiteter färskvatten, energi och kemikalier; förorening utav avfallsvattnet vilket påverkar människor, djur och miljön. Vidare medför sträng lagstiftning angående utsläpp och därpå följande nödvändighet av vattenreninsgsåtgärder en ekonomisk börda för textilindustrin. Därför fokuserar textilindustrin i dag på alternativa gröna teknologier och miljövänliga kemikalier för att minimera dessa problem. Ur denna synvinkel är teknologin att färga med superkritiskt koldioxid (scCO2) ett lovande alternativ till konventionella vattenbaserade metoder då den undviker användningen utav vatten, reducerar energiåtgången och använder färre kemikalier vilket minimerar avfallsproduktionen vilket är viktigt för att minska det ekologiska avtrycket samt reducera produktionskostnader. Tack vare dessa aspekter så har scCO2-färgning undersökts under de senaste tre decenierna som en miljövänlig process och numera är den en, i industriell skala, komersiellt framgångsrik metod för att färga in polyester fibrer. Icke desto mindre har endast ett fåtal försök gjorts för att använda denna teknologi som en textil slutberedningsmetod trots sin lovande potential för detta ändamål. I denna avhandling användes scCO2-färgningsteknologin med intentionen att utforska dess potential för produktion utav funktionella och smarta textilier. För att genomföra detta gjordes för det första ett urval utav olika funktionella färgämnen och funktionella beredningskemikalier med intressanta egenskaper vilka också lämpar sig för scCO2-färgning. Detta urval gjordes på grundval utav litteraturstudier samt preliminära mätningar. Baserat på nyss nämnda kriterier valdes chitosan med väldigt låg molekylvikt och laktatderivat, naturlig kurkumin (gurkmeja) samt två komersiella fotokroma färgämnen baserade på spirooxanin och naphtopyran klasserna som färgämnen. För det andra inkorporerades dessa färgämnen in i ett polyestertyg med hjälp utav impregnerande scCO2-teknik för att förmedla en mängd funktionaliteter såsom: antimikrobiell, antioxidant, UV-skydd samt en smart UV-senorik. Förutom detta innehåller avhandlingen också produktionen utav ett pH-kännande funktionellt tyg med en halokrom molekyl tillverkad med hjälp utav så kallad "photo-grafting" teknik som ett alternativ resurssål metod. Resultaten visar på att scCO2-färgningsteknologin är en användningsbar teknik för framställning utav funktionella polyestertyger på ett resurssnålt och miljövänligt vis. Färgade polyestertyger med tillagd funktionalitet såsom: antimikrobiell, antioxidant, UV-skydd samt UV-kännande, kunde tillverkas i ett enda steg. De tillverkade tygerna uppvisar önskvärda färgegenskaper samt funktionella egenskaper utan att dessa egenskaper påverkar varandra vilket indikerar hög kompatibilitet. Vidare uppvisade de funktionella tygerna tillräckligt goda stabilitets och härdighetsresultat för att kunna användas i en rad olika applikationer. Denna avhandling bidrar med att utöka användningsområdet för scCO2-färgningsteknologin och banar väg för en hållbar produktion av funktionella och smarta textilier på ett resurssnålt och miljövänligt sätt. Vidare var funktionaliseringen utav ett bomullstyg med en pH-indikator med hjälp utav "photo-grafting"-teknik en framgång och uppvisade goda halokroma egenskaper gentemot olika pH-miljöer, tydande på en potentiell användning inom flera smarta textila områden. ; La domanda di tessuti funzionali è significamente aumentata negli ultimi anni a causa del cambiamento di stile di vita degli utilizzatori. Ciò ha fatto si che la produzione di tessuti funzionali sia in costante aumento. Tuttavia, i metodi di tintura e finissaggio convenzionalmente utilizzati per produrre tessuti funzionali presentano alcuni limiti come il grande utilizzo di acqua ed ausiliari chimici. Questi ultimi possono essere causa di un significativo inquinamento delle acque reflue che può causare danni all'ecosistema ed alle popolazioni limitrofe. Inoltre la rigorosa legislazione ambientale in materia di rilascio degli effluenti impone alle aziende tessili il trattamento delle acque reflue, questo processo ha un significativo impatto sul costo del prodotto finito. Pertanto, l'industria tessile si è concentrata su tecnologie ecologiche alternative e agenti chimici ecologici per ridurre al minimo questi problemi. In questo contesto, la tecnica della tintura in anidride carbonica supercritica (scCO2) è considerata come una promettente alternativa ai metodi convenzionali. Questa tecnica evita l'uso di acqua, utilizza meno energia e meno sostanze chimiche minimizzando la generazione di rifiuti, andando così a migliorare l'impronta ecologica e riducendo i costi di produzione. Grazie a queste importanti caratteristiche, la tintura scCO2 è stata studiata negli ultimi tre decenni come un processo ecologicamente conveniente. Al giorno d'oggi essa è utilizzata a livello industriale per la tintura di fibre di poliestere. Pertanto, l'utilizzo di questa tecnica per la funzionalizzazione dei tessuti può apportare ulteriori vantaggi economici e ambientali all'industria tessile. Tuttavia, finora sono stati fatti solo pochi tentativi nell'uso di questa tecnologia per il finissaggio tessile. Questa tesi ha utilizzato la tecnologia della tintura in scCO2 allo scopo di esplorare il suo potenziale per la produzione di tessuti funzionali. In primo luogo sono stati selezionati diversi coloranti ed agenti di finissaggio funzionali in base ai dati della letteratura e ad alcuni esperimenti di screening. Da questi studi sono stati selezionati i derivati del lattosio, il chitosano a basso peso molecolare peso molecolare, la curcumina, e dei coloranti fotocromici basati sulla spirooxazina ed il naftopirano. In secondo luogo, queste sostanze sono state incorporate nel tessuto di poliestere usando la tecnica di impregnazione scCO2 per conferire una vasta gamma di funzionalità quali proprietà antimicrobiche, antiossidanti, protezione e sensing dei raggi UV. Inoltre, sono state esplorate le prestazioni funzionali e colorimetriche di questi tessuti andando a studiare l'effetto delle variabili di processo sulle proprietà studiate.Inoltre, la tesi comprende la produzione di tessuto utilizzabile come sensore di pH ottenuto funzionalizzando il substrato tessile con una molecola alocromica. Per la produzione di questo materiale è stato utilizzato un metodo di finissaggio fotochimico. I risultati hanno mostrato che scCO2 è una tecnica efficiente ed ecologica per la produzione di poliestere funzionale. Infatti, la produzione di tessuti con funzionalità antimicrobiche, antiossidante, rilevamento e protezione dai raggi UV è stata ottenuta mediante una singola operazione unitaria. I tessuti ottenuti hanno riportato le qualità desisderate sia dal punto di vista colorimetrico che da quello funzionale. Inoltra la tintura ha dismostrato di possedere una solidità soddisfacente per le varie applicazioni. Questa tesi contribuisce ad ampliare ulteriormente l'applicazione della tecnica di tintura in CO2 supercritica e apre la strada ad una produzione sostenibile di tessuti funzionali. Inoltre, la funzionalizzazione del tessuto di cotone con un colorante sensibile al pH ha dimostrato la possibilità di produrre sensori di pH basati su materiali tessili, impiegando processi fotochimici a basso impatto ambientale. ; 随着生活方式的转变,现如今人们对功能纺织品和智能纺织品的需求与日俱增,伴随需求而来的该类产品的生产研发活动也相应增加。通常用于生产功能纺织品的技术为染整加工技术,传统的染整加工技术往往会消耗大量的新鲜水、能源、化学品并带来水污染,污染的水会对人类、动物以及环境造成有害影响。污水排放严格的环境法规使工厂增加了污水处理成本,因此寻找替代的生态化学品、绿色加工技术成为当下解决上述问题的有效途径。其中,超临界二氧化碳流体染整技术(以下简称scCO2技术)由于其不使用水,耗能低,添加化学品少,从而排污少,生产成本低,有助于提高生态足迹,和传统水介质染色技术相比具有很好的发展前景,过去三十年来引发了研究者们的高度关注,目前在聚酯纤维染色中已有工业应用。如果将此技术应用于纺织品功能化,则可为染整工业带来新的环境效益及经济效益。尽管有较好的潜在应用前,但是目前这方面的研究报导还比较少。 本文主要基于scCO2染整技术来探究其在功能及智能纺织品领域应用的可行性。首先,研究了筛选了不同功能染料和功能整理剂,主要优选出低分子量的壳聚糖及其乳酸衍生物,姜黄染料,以及基于螺噁嗪及萘并吡喃结构的两种光致变色染料;其次,将这些助剂在scCO2中用浸渍法应用于涤纶织物从而获得抗菌性、抗氧化性、抗紫外性能以及获得智能紫外感知织物;本论文还研究了制备功能纺织品的工艺参数、颜色性能以及功能性;此外,本论文还采用加酸显色分子通过光接枝技术制备了一种pH敏感织。研究结果表明,scCO2染整技术在生产加工功能性涤纶织物来说是一资源效益型和环境友好的切实可行的技术。织物可通过一步法染整加工在获得颜色的同时获得功能性,诸如抗菌性、抗氧化性、抗紫外性能、紫外感知性能,且颜色和功能具有较好的相容性,互不冲突。制备的功能纺织品表现出了较好的耐久性和色牢度。本论文的研究为功能和智能纺织品的可持续生产加工奠定了技术基础。 本论文采用光接枝技术将pH指示染料应用于棉织物经FTIR表征证明反应成功完成。光接枝样品在不同的pH环境下表现出了较好的酸碱变色性能,这为其在智能纺织品领域的应用提供了技术依据。

학위논문(박사)--서울대학교 대학원 :공과대학 산업공학과,2020. 2. 박용태. ; 치열한 글로벌 경쟁속에서 지속적 성장을 위한 혁신의 중요성으로 인해, 수많은 국가, 산업, 기술 수준의 혁신 연구들은 다양한 관점에서 혁신의 영향요인과 메커니즘에 대해 깊게 탐구해 왔다. 그러나 연구범위의 특수성, 소규모의 실증연구, 혁신연구 자료에 따른 대용 지표의 특성에 의해 제한된 전통적인 통계적 방법론과 결부된 복잡한 혁신 환경은 혁신에 대한 다양한 논쟁을 일으키며, 혁신에 대한 총체적인 합의를 어렵게 해왔다. 본 학위 논문은 다양한 측도로 측정되는 혁신 연구자료의 대용지표적 특성과 이에 의해 제한된 전통적 통계 방법론의 적용의 취약점을 넘어서서, 16,230개의 대규모 표본 실증 자료와 이를 통합적으로 반영할 수 있는 의사결정나무분석을 활용한 하나의 통계적 프레임워크에 기반하여 국가적, 산업적, 지역적 수준에서 제조업과 서비스업에 대한 횡단적, 종단적 비교분석을 통해 두 업종을 아우르는 혁신에 대한 총체적인 지식의 부족함을 경감함으로써 혁신 연구의 지평을 넓히고 풍성하게 하는 것을 목표로 한다. 본 학위 논문은 체계적 프레임워크를 개발함으로써, 한국의 제조업과 서비스 산업의 모든 세부 산업을 전국적으로 반영할 수 있도록, 이론적으로 표준화되고 실무적으로 세계적으로 활용되는 오슬로 매뉴얼에 기반한 한국혁신조사 자료를 활용하여, 최근의 연속된 두 기간 동안, 선행연구에서 제시된 혁신과 연관된 외생적, 내생적 변수를 모두 고려하여, 다양한 관점의 다양한 수준에서 산업, 세부산업, 지역 간의 종단적이고 횡단적인 비교분석을 통해 종합적인 혁신의 영향 요인과 혁신의 유형적 거동을 탐색하고자 한다. 본 학위 논문은 두개의 주제로 구성되어 있다. 첫번째 주제는 선행연구들이 선험적으로 가정하였지만, 통계적으로 검증되지 않은, 산업, 세부산업, 지역, 지역산업 수준에서 제조업과 서비스 산업의 혁신의 성공과 실패에 대한 통계적 차이를 확인한다. 8가지 가설에 따른 28개 모델에 대한 교차표 분석과 카이제곱 검정을 통해 지지된 가설검증 결과를 바탕으로, 본 학위논문은 혁신에 대한 영향요인과 유형별 거동을 탐구한다. 두번째 주제는 CHAID 알고리즘과 10-fold 교자검증을 활용한, 안정적이고 타당한 예측적 의사결정 나무분석을 통해 혁신에 대한 영향요인과 유형별 거동을 탐구한다. 두번째 주제는 세가지 세부 모듈로 구성된다. 첫번째 모듈은, 52개 모델에 기반하여 전국적, 지역적 수준에서 제조업과 서비스 산업의 혁신 성공과 실패에 대해 비교 분석을 통해 혁신 영향요인과 유형별 거동을 파악한다. 두번째 모듈은 30개 모델에 기반하여, 제조업과 서비스 산업내 성공기업의 전반적인 혁신활동에 대해 다양한 관점에서 비교분석을 통해 혁신 영향요인과 유형별 거동을 파악한다. 세번째 모듈은 제조업과 서비스 산업내 가장 혁신적인 세부산업, 지역, 지역산업에 대해 36개 모델을 통해 혁신 영향요인과 유형별 거동을 파악한다. 이를 통하여, 본 학위 논문은 제조업과 서비스업 내의 중요 영향요인과 이들의 변화를 종단적, 횡단적으로 파악하고 유형적 혁신 거동을 밝힌다. 118개의 의사결정나무분석을 통한 혁신의 영향요인과 유형적 거동에 대한 종합적 이해를 바탕으로, 전국적, 지역적, 산업적, 기업적 관점에서의 종합적인 시사점을 제시한다. 제조업과 서비스산업 전반에 걸쳐, 내부 연구개발과 역량은 혁신 성공에 중요한 것으로 확인되었다. 제조업에서는 기업 규모가 클수록, 기업 연령이 높을수록, 혁신 성공가능성이 높은 것으로 확인되었다. 제조업내 저 기술 분야의 기업은 R&D 활동보다 비R&D 활동을 선호하였으며, 서비스산업에서는 기존 연구와는 다르게, 혁신 성공에 대한 세부 산업간 차별적 특성뿐 아니라, 기업 규모와 연령효과가 확인되었다. 특히 경제 호황기에서 기업 규모의 효과가 두드러지게 나타났다. 지역 측면에서는 수도권과 광역권내에서의 혁신 성공과 실패에 있어 기업의 혁신 역량과 세부산업간 차이가 확인되었다. 산업측면에서는 제조업과 서비스산업내의 R&D의 역할에 대한 차이가 나타났다. 제조기업은 비R&D 활동 보다 R&D 활동에 더욱 집중하는 반면, 서비스 기업은 전반적으로 R&D보다 비R&D 활동을 수행하는 것으로 확인되었다. 지식활용 측면에서는 서비스 기업이 민간 고객 정보에 집중하는 반면, 제조기업은 동일 분야내 경쟁정보를 더욱 중요시하였다. 성공기업의 혁신의 재무적 기여측면에서는, 혁신은 수년에 걸쳐 두 산업 모두에서 재무적으로 기여하였다. 제조기업의 혁신이 서비스기업의 혁신보다 더 많은 재무적 기여를 하는 것으로 확인되었으며, R&D 혁신활동을 수행하는 제조기업이 더 높은 재무적 기여를 달성했다. 서비스 산업내에서는 내부역량과 지식활용의 자유도가 높은 서비스 기업이 높은 재무적 기여를 거두었다. 전반적인 성공기업의 혁신활동의 영향요인과 거동 측면에서는 제조업과 서비스산업 전반에서 혁신성공기업들은 저비용의 R&D 활동을 선호하였으나, 저 기술군 산업은 비R&D 활동을 선호했다. 제조업에서는 기업으로 하여금 시장 니즈 탐색 활동을 유도하는 목표시장 성격에 따라 제조기업의 전반적인 혁신활동과 외부 지식 활용 활동에 영향을 미쳤다. 대부분의 연구소를 보유하고 있는 기업은 자사의 지식을 활용함으로써 내부연구개발에 집중하였다. 협력R&D는 부족한 내부역량을 채우기 위해 수행되었으나, 이를 보완하기 위한 흡수역량이 요구되었다. 서비스 산업에서는 기업들은 기술활용측면의 세부산업의 차별적 특성에 따라 내부 역량에 따라 R&D를 수행하거나 하지 않았다. 서비스 기업의 혁신 거동은 고객과 경쟁자로부터의 지식 활용 측면과 밀접하게 연관되어 있는 것이 확인되었으며, 특히 경제 활황기에는 고객 및 외부 R&D 기관으로부터의 지식활용에 적극적이었다. 혁신 성공을 제고하기 위한 정책적 시사점으로는, 제조업에 있어서 자금 지원을 통한 내부 R&D와 협력 R&D 역량 모두를 높일 수 있는 체계와 기술과 시장에 대한 정보제공 수준을 높이는 측면에서 국가혁신체계를 강화하는 것이 중요하다. 서비스 산업에 있어서는, 협력 네트워킹 활동을 강화하는 것보다 내부 R&D 뿐만 아니라 비R&D 활동을 위한 역량을 강화하는 것에 초점을 맞추는 것이 중요하다. 또한, 세부산업의 차별적 특성에 맞춘 시장정보 제공의 촉진이 요구된다. 전체적으로, 본 학위 논문은 빅데이터 수준의 혁신 연구 자료의 다양한 지표 형태를 포괄할 수 있는 단일 통계적 프레임워크로써 의사결정나무분석 방법론을 제시하고, 기업 혁신 활동의 다양한 관점과 전국적, 산업적, 지역적 수준에서 서로 다른 산업적 특성을 가진 제조업과 서비스산업 전반의 종단적, 횡단적 비교 분석 연구를 통해 주요한 영향요인과 유형적 혁신 거동에 관한 발견과 시사점을 제시하였으며, 이는 총체적인 혁신 이해에 대한 지식 축적에 기여한다. 제안된 종합적인 분석 체계를 기반으로 실증적으로 다양한 맥락을 관통하는 혁신 측정의 일관성을 가진 대규모의 혁신 연구 자료를 활용함으로써, 다양한 관점과 소규모의 실증적 혁신 환경에 따른 혁신 연구 자료와 비일관적인 대용 지표에 기인한 주요 혁신요인과 메커니즘에 대한 다양한 논쟁을 해소하고, 동시대의 새로운 혁신 연구의 지평을 밝힌 점에서 의의를 가진다. ; Numerous innovation studies at the national, industrial, and corporate levels from the various perspectives on diverse innovation taxonomy have fathomed influencing factors and in-depth mechanism on innovation due to the crucial role of innovation for ensuring growth under a fiercely competitive business environment in globalized economy. However, the complex context of innovation has led to controversies on innovation and made it difficult to address a comprehensive prescription of innovation involving specific research scopes, small pieces of empirical cases, and traditional statistical methodologies tied down by natures of proxy measures in innovation study data. This doctoral thesis aims to broaden and enrich the landscape of innovation study by mitigating the shortness of comprehensive knowledge on innovation encompassing manufacturing and service industries based on the big data scale of 16,230 empirical cases from cross-sectional and longitudinal comparative perspective between two industries at the national, sectoral, and regional levels through a single statistical framework by employing decision-making tree analysis, beyond the weakness of proxy measures in innovation study data regarding type and scale, and classical statistical methodologies tied down by the data. This thesis develops a systemic framework to identify overall influencing factors and typological behaviors by considering all factors together entailing contextual and intrinsic factors, which are determined in previous empirical studies in different contexts from the diverse microscopic foci, at various level from diverse perspectives based on the cross-sectional and longitudinal comparative analysis between industries, sectors, and regions on manufacturing and service industries to reflect all sectors nationwide over the years in Korea empirically, by using data from recent two consecutive Korea Innovation Survey (KIS), which is based on the Oslo manual that is standardized theoretically and practically applied worldwide. This thesis consists of two themes. Theme#1 aims to verify statistical differences in innovation success and failure between manufacturing and service industries at the industrial, sectoral, regional, and across sectoral and regional levels nationwide, which is preliminary assumed in previous studies that there is significant difference between sectors statistically, but not tested. Based on the supported eight hypotheses on 28 models by cross-tabulation analysis and chi-square test, this thesis explores forward significant influencing factors and typological behavior on innovation. Theme#2 explores to identify influencing factors and typological behaviors on innovation comparatively between manufacturing and service industries nationwide based on decision-making tree analysis employing CHAID algorithm and 10-fold cross-validation, which are stable, rational and predictive. This theme#2 consists of three modules. The first module identifies influencing factors and typological behaviors on innovation success and failure comparatively between manufacturing and service industries at the national and regional level based on 52 models. The second module identifies influencing factors and typological behaviors on firms that succeeded in innovation comparatively between manufacturing and service industries at overall innovation activity levels from various perspectives based on 30 models. The third module identifies influencing factors and typological behaviors on the most innovative domains having highest success rate comparatively between manufacturing and service industries at the sectoral, regional, and across the industrial and regional levels with higher resolution particularly based on 36 models of three sub-modules. From these models, this thesis identifies pivotal and varying influencing factors across industries over the years, and determines typological behavior of firms in manufacturing and service industries. Based on comprehensive findings on significant influencing factors and typological behaviors on innovation in each result of overall 118 decision-making tree analysis models in three modules in theme#2, overall implications on each typological variation at the national, regional, industrial, and corporate level are drawn. At the national level, the role of internal R&D and its capability are crucial for innovation success across manufacturing and service industries. In manufacturing industry, the larger the firm size and the older the firm, the higher the success will be achieved. Firms in low-technology sectors prefer non-R&D innovation activities rather than R&D. In service industry, effects of firm size and age with sectoral differences are identified. The size effects are prominent under the booming economy circumstances. At the regional level, significant influencing factors are consistent with the arguments on innovation capacity and sectoral difference on both capital and metropolitan area. At the industrial level, the significant role of R&D is witnessed between manufacturing and service industries, such that manufacturers concentrate more in R&D activities than non-R&D activities, and that service firms generally implemented non-R&D innovation activities than R&D. Regarding utilizing information, service firms focus on information from private customer, whereas manufacturers emphasis information from competitor in same sector. At the firm level on innovation contribution, innovation have contributed to the sales on both industries over the years. Comparatively there was a tendency that innovation in manufacturing industry contributes more than service industry. In manufacturing industry, firms performing R&D related innovation activities earn higher contribution to sales from innovation. In service industry, the higher internal capability and freedom in utilizing knowledge, the higher financial contribution will be achieved. Concerning an innovator's behavior, in manufacturing industry, target market characteristics that drive a firm to explore market needs affects innovation behavior and the utilization of external knowledge. Firms prefer implementing low-cost R&D activities across sectors, but firms in low-technology sectors prefer non-R&D activities. Most firms having R&D institutes focus on performing internal R&D with using their own knowledge. Cooperative R&D is conducted for closing capability gaps, but absorptive capacity is necessary to complement cooperative R&D. In service industry, firms primarily decide on whether to engage in R&D based on sectoral differentiations in technology facilitation with internal R&D capability. Their behavior is closely related to the knowledge utilization from customer or competitor. Firms perfervidly engage in utilizing knowledge from customers and external R&D institutes under the booming economy. For managerial or political implications in manufacturing industry, it is crucial to enhance the national innovation system, such that strengthening a support program to increase the capacity of both in-house R&D and cooperative R&D through funding, and to enliven the information environment on technology and market. For service industry, it should focus on enhancing the capacity for non-R&D innovation activities as well as for the internal R&D rather than promoting cooperative networking activities. Also, it should strengthen the national innovation system for to facilitate provision of market information according to the sectoral differentiation. In whole, the findings and implications presented in this thesis contribute to the comprehensive knowledge on influencing factors and typological behaviors on innovation across manufacturing and service industries nationwide from cross-sectional and longitudinal comparative analysis by employing DT methodology to encompass various types of proxy measures in innovation study data together in a single statistical framework on the big-data scale, thereby shedding light on landscape of innovation study and resolving controversies involving various empirical contexts and diverse proxy measures, which are tied down by the innovation study data. ; Chapter 1 Introduction 1 1.1 Background and motivation 1 1.2 Purpose 5 1.3 Scope and framework 7 1.4 Thesis outline 10 Chapter 2 Background 13 2.1 Theoretical background 13 2.1.1 Definition and measurement of innovation 13 2.1.2 Antecedents of innovation 17 2.1.2.1 Extrinsic determinants of innovation 17 2.1.2.2 Intrinsic determinants of innovation 21 2.1.3 Innovation studies at the sectoral and regional levels 27 2.2 Methodological background 30 2.2.1 Decision-making tree analysis 30 2.2.2 Validation and accuracy 33 2.3 Data and variables 34 2.4 Research framework and flow 44 Chapter 3 An analysis of industrial and regional differences in the success of innovation between Manufacturing and service industries 50 3.1 Structure and hypotheses of difference in innovation success between manufacturing and service industries at the industrial, sectoral, and regional levels 50 3.2 Differences in innovation success between manufacturing and service industries at the industrial, sectoral, and regional levels 54 3.3 Conclusion 84 Chapter 4 Identifying influencing factors and typological behaviors in innovation between manufacturing and service industries by using decision-making tree analysis 88 4.1 Identifying contextual factors and typological behavior in innovation success and failure between manufacturing and service industries at the national and regional levels 89 4.1.1 Analysis structure on innovation success and failure at the national and regional levels 89 4.1.2 Factors and behaviors in innovation success and failure between manufacturing and service industries at the national and regional levels 92 4.1.2.1 Overall influencing factors and typological behaviors on innovation success and failure at the national level 97 4.1.2.2 Overall influencing factors and typological behaviors on innovation success and failure at the regional level 111 4.2 Identifying intrinsic and contextual factors and typological behaviors in successful innovation firms between manufacturing and service industries at the various activity levels 116 4.2.1 Analysis structure on intrinsic and contextual factors and typological behaviors in successful innovation at the various activity levels 116 4.2.2 Intrinsic and contextual factors and typological behaviors in successful innovation at the various activity levels 119 4.2.2.1 Industrial difference in successful innovation 119 4.2.2.2 Contribution to sales from innovation 124 4.2.2.3 Overall innovation activities 133 4.2.2.4 Overall R&D activities 141 4.2.2.5 Cooperative activities 151 4.2.2.6 Best cooperative partner 156 4.2.2.7 Sources of innovation budget 161 4.3 Identifying factors and behaviors in innovative domains between manufacturing and service industries at the sectoral, regional, and across the industrial and regional levels 166 4.3.1 Analysis structure on innovative domains 166 4.3.2 Overall influencing factors and behaviors in innovative domains at the sectoral, regional, and across the industrial and regional levels 173 4.3.2.1 Innovative sectors 173 4.3.2.2 Innovative regions 182 4.3.2.3 Innovative regional sectors 188 4.4 Conclusion 194 Chapter 5 Conclusion 205 5.1 Summary and contribution 205 5.2 Limitation and further research 212 Bibliography 214 Appendix 249 국문초록 347 ; Doctor

Beninese rice production has a major challenge: produce quality rice in sufficient quantity to meet national needs and thus reduce the quantity of imported rice. There are two weaknesses in achieving these objectives: low productivity and low quality of finished products. Both of these weaknesses are closely linked to the use of quality seeds. Seed is a productivity factor that alone could contribute to 40% of yield improvements (FAO 2008). Seed carries the genetic potential of the variety and largely determines the effectiveness of other inputs and production conditions. Therefore, the seed is one of the essential factors for any plant production system. Other factors such as: adaptation of the variety to the production ecosystem, respect of the production schedule, quality of inputs, production conditions, etc. also largely influence production results. After more than fifty years of extension of certified seed, 'the adoption rate of these seeds remained generally low in Benin, with only 22%' (Kinkingninhoun-Medagbe, 2013). Benin has a significant potential in terms of natural resources that can enable it to ensure its self-sufficiency in rice. Benin's rice production has experienced a significant quantitative increase over the last two decades, from 13 686 tonnes of paddy in 1994 to 281 428 tonnes in 2016 (FAOSTAT, 2018) This significant increase in rice production by more than 20 times in 22 years, is largely due to an increase in cultivated area (8 736 ha to 82 351 ha). The devaluation of the CFA franc in 1994 and the 2008 food crisis were the triggers. Average yields have also increased, but to a lesser extent. They rose from 1.7 t/ha in 1994 to 3.4 t/ha in 2016. This level of yield, however, remains below the world average, which now exceeds 4.6 t/ha but above the average of West Africa which is at 2.09 t/h in 2016, Senegal at 3.9 t/ha and Mali at 3.3 t/ha (FAOSTAT, 2018). There is still room for improvement. The varietal mixture that is observed from the production fields is the main problem that arises through the accessibility of small producers (less than 1 ha) to quality seeds. «96% of rice farmers in Benin have areas of less than one hectare» (Allodehou et al., 2013). This thesis carried out an integrated analysis of seed issues in the value chains of finished products. The general objective of this thesis is to analyze the dynamics within the existing seed systems and to identify improvement options that will facilitate access to quality seeds by small producers. More specifically, this thesis has: i- carried out an analytical inventory of the rice sector of Benin; ii make a thorough diagnosis of the formal seed system of rice; iii- identified seed production and distribution mechanisms in the informal system and the reasons for their persistence; iv- proposed an integrated model for improving the efficiency of the rice seed system in Benin. This research was conducted using a participatory and transdisciplinary approach. It also used a systemic approach based on a holistic analysis approach. Data collection took place in several phases and according to the main objectives of the research. It began with the document overview phase which continued throughout the hall research. An exploratory study of the whole rice sector led us to a diagnosis of the main difficulties or constraints to the development of the different value chains of local rice in Benin. This exploratory study was carried out in 2013 in all the rice-growing basins in Benin. It shows that seed quality (germination rate, varietal purity, adaptation to ecological conditions, drought, disease and yield) is mentioned by producers as one of the main factors of productivity. Processors also identified mixed paddy, including several varieties, as a factor in low milling yield (high break rate). The traders judge the quality of the hulled grain through a visual observation, based on the homogeneity and coloring of the grains, which according to them is largely determined by varietal purity. The varietal mixture gives a bad result in cooking and an unpleasant taste to consumers. Thus, the quality of rice seed affects the entire local rice sector. The participatory diagnosis was conducted in 15 communes distributed in the various rice-growing areas in Benin with the aim of better understanding the functioning of local rice value chains. The results of these investigations show that the measures that have been taken by the government, including the subsidy on seeds, fertilizers and the development of production perimeters, in response to the 2008 food crisis, have boosted paddy production. (73,000 tons in 2008 to 220,000 tons in 2012) and the development of local rice value chains. Several local rice labels have thus emerged. Since 2014, government measures aiming production increase have run out of steam and production is stagnating again. The in-depth studies focused on the operational modes of the seed systems in force and also on specific themes with well-targeted groups of actors in the three departments where research focused on Collines, Zou and Couffo departments. It is the government structures that dominate the formal seed system (SSF) in Benin. Private companies are struggling to establish themselves and prosper in a policy-interventionist environment that subsidizes seeds and creates non-competitive conditions. However, financial analyzes have shown that seed production is twice as profitable as paddy production in lowland and irrigated rice systems, and three times as much in the rainfall system. Seed producers are generally responsible for rice producers organizations. The low use of quality seed continues to find its reasons under conditions of low accessibility. The costs of disposal, the physical availability of seeds, the delay and flow of information on new varieties are often the factors involved. The formal seed system does not adequately meet the expectations of small-scale rice producers in Benin, whereas small-scale producers account for the bulk of domestic production. The modes and conditions of access to informal seeds are more varied (donation, exchanges, loans, purchases) and more adapted to the situations of smallholders. The quality of the peasant varieties meets local social and cultural norms, on the understanding that production is often used for self-consumption. The type of seed used in rice production should, in fact, be determined by the objectives pursued by the consumer rice producer and hence according to the requirements of the target market. The point is that the seed sector does not function as a real value chain serving the key players, the paddy producers and processors, as well as consumers or end users of grain. The development of the contract farming of rice production by rice mills is a condition that evolves towards a seed system integrated into value chains. The integration of seed systems into value chains is the approach that improves the use of quality seed by small producers. The proposed seed model is based on the strengths of the informal seed system, which is supported by a dynamic action-research service that regularly feeds good quality genetic material. This material will be reused for a few years (2 to 3) according to the rules of informal systems before being renewed. ; La riziculture béninoise a un défi majeur : produire du riz de qualité en quantité suffisante pour couvrir les besoins nationaux et réduire ainsi les importations. Deux faiblesses s'opposent à l'atteinte de ces objectifs : la faible productivité et la faible qualité des produits finis. Ces deux faiblesses ont un lien étroit avec l'utilisation des semences de qualité. La semence constitue un facteur de productivité qui à lui seul pourrait contribuer à 40% des améliorations des rendements (FAO, 2008). La semence porte le potentiel génétique de la variété et détermine en grande partie l'efficacité des autres intrants et conditions de production. Par conséquent, la graine est un des facteurs essentiels pour tout système de production végétale. D'autres facteurs comme l'adaptation de la variété à l'écosystème de production, le respect du calendrier de production, la qualité des intrants, les conditions de production, etc. influencent aussi largement les résultats de la production. Après plus de cinquante années de vulgarisation des semences certifiées, « le taux d'adoption de ces semences est resté en général très faible en Afrique, avec seulement 22% au Bénin » (Kinkingninhoun- Medagbe, 2013). Le Bénin dispose d'un potentiel non négligeable en ressources naturelles pouvant lui permettre d'assurer son autosuffisance en riz. La production rizicole béninoise connaît depuis ces vingt dernières années une progression quantitative sensible passant de 13 686 tonnes de paddy en 1994 à 281 428 tonnes en 2016 (FAOSTAT, 2018) Cette importante augmentation de la production rizicole de plus de 20 fois en vingt-deux ans, s'est faite en grande partie grâce à une augmentation des superficies (8 736ha à 82 351 ha). La dévaluation du franc CFA en 1994 et la crise alimentaire de 2008 ont été les déclics. Les rendements moyens ont aussi progressé mais dans une moindre mesure. Ils sont passés de 1,7 t/ha en 1994 à 3,4 t/ha en 2016. Ce niveau de rendement reste cependant inférieur à la moyenne mondiale qui dépasse aujourd'hui 4,6 t/ha mais supérieur à la moyenne de l'Afrique de l'Ouest qui est à 2,09t/h en 2016, Sénégal 3,9 t/ha et Mali 3,3 t/ha (FAOSTAT, 2018). Une réelle marge de progression existe encore. Le mélange variétal qui s'observe depuis les champs de production est la problématique principale qui se pose à travers l'accessibilité des petits producteurs (moins d'1ha) aux semences de qualité. «96% des riziculteurs du Bénin ont des emblavures de moins d'un hectare » (Allodehou et al., 2013). Cette thèse a réalisé une analyse intégrée des questions semencières dans les chaînes de valeur des produits finis. L'objectif général de cette thèse est d'analyser les dynamiques au sein des systèmes semenciers existants et d'identifier des options d'amélioration pour faciliter l'accès des petits producteurs aux semences de qualité. Plus spécifiquement, cette thèse a : i- réalisé un état des lieux analytique de la filière rizicole du Bénin ; ii- fait un diagnostic approfondi du système semencier formel du riz ; iii- identifié les mécanismes de production et de distribution des semences dans le système informel et les raisons de leur persistance et ; iv- proposé un modèle intégré pour une amélioration de l'efficacité du système semencier du riz au Bénin. Cette recherche a été conduite suivant une approche participative et transdisciplinaire. Elle a suivi une démarche systémique fondée sur une approche d'analyse holistique. La collecte des données s'est déroulée en plusieurs phases et suivant les principaux objectifs de la recherche. Elle a commencé par la phase de revue documentaire qui s'est poursuivi tout au long de cette recherche. Une étude exploratoire de toute la filière rizicole nous a conduit à un diagnostic des principales difficultés ou contraintes au développement des différentes chaînes de valeur du riz local au Bénin. Cette étude exploratoire a été menée en 2013 dans tous les bassins rizicoles au Bénin. Il en ressort que la qualité des semences (taux de germination, pureté variétale, adaptation aux conditions écologiques, sécheresse, maladies et rendement) est évoquée par les producteurs comme un des principaux facteurs de productivité. Les transformateurs ont aussi identifié le paddy mélangé, comprenant plusieurs variétés, comme facteur de faible rendement à l'usinage (taux de brisure élevé). Les commerçants, jugent la qualité du grain décortiqué à travers une observation visuelle, basée sur l'homogénéité et la coloration des grains, qui selon eux est en grande partie déterminée par la pureté variétale. Le mélange variétal donne un mauvais résultat à la cuisson et un goût désagréable aux consommateurs. Ainsi, la qualité des semences de riz influe sur tout le secteur de la riziculture locale. Le diagnostic participatif a été conduit dans 15 communes réparties dans les divers bassins rizicoles au Bénin dans le but de mieux appréhender le fonctionnement des chaînes de valeur du riz local. Les résultats de ces investigations montrent que les mesures qui ont été prises par le gouvernement, notamment la subvention sur les semences, les engrais et l'aménagement de périmètres de production, en réponse à la crise alimentaire de 2008, ont stimulé la production du paddy (73.000 Tonnes en 2008 à 220.000 Tonnes en 2012) et le développement des chaînes de valeur du riz local. Plusieurs labels de riz local ont ainsi vu le jour. Depuis 2014, les mesures gouvernementales destinées à booster la production se sont essoufflées et la production stagne à nouveau. Les études approfondies ont porté sur les modes opérationnels des systèmes semenciers en vigueur et aussi sur des thématiques spécifiques avec des groupes d'acteurs bien ciblés dans les trois départements où la recherche s'est focalisée à savoir les Collines, le Zou et le Couffo. Ce sont les structures étatiques qui dominent le système semencier formel (SSF) au Bénin. Les entreprises privées ont du mal à s'établir et à prospérer durablement dans un environnement de politique interventionniste qui subventionne les semences et qui crée de ce fait des conditions non-compétitives. Cependant, les analyses financières ont révélé que la production de semences est deux fois plus rentable que la production du paddy dans les systèmes de riz de bas-fond et de riz irrigué, et l'est trois fois plus dans le système pluvial. Les producteurs semenciers sont généralement des responsables des organisations de producteurs du riz. La faible utilisation des semences de qualité, continue de trouver ses raisons dans les conditions de faible accessibilité. Les coûts de cession, la disponibilité physique des semences, le délai et la circulation des informations sur les nouvelles variétés sont les facteurs souvent mis en cause. Le système semencier formel ne répond pas convenablement aux attentes des petits producteurs de riz du Bénin, alors que ce sont les petits producteurs qui assurent l'essentiel de la production nationale. Les modes et conditions d'accès aux semences informelles sont plus variés (don, échanges, emprunts, achats) et plus adaptés aux situations des petits producteurs de riz. La qualité des variétés paysannes obéit à des normes sociales et culturelles locales étant entendu que la production sert souvent à l'autoconsommation. Le type de semences utilisé dans la production rizicole devrait, en effet, être déterminé par les objectifs poursuivis par le producteur de riz de consommation, et donc selon les exigences du marché visé. Le constat est que le secteur semencier ne fonctionne pas comme une véritable chaîne de valeur au service des acteurs clés, c'est-à-dire les producteurs et transformateurs de paddy, ainsi que les consommateurs ou utilisateurs finaux des grains. Le développement de la contractualisation de la production du riz par les rizeries est une condition qui fait évoluer vers un système semencier intégré aux chaînes de valeur. L'intégration des systèmes semenciers aux chaînes de valeur est l'approche qui améliora l'utilisation des semences de qualité par les petits producteurs. Le modèle semencier proposé se fonde sur les points forts du système semencier informel qui reçoivent l'appui d'un service recherche-action dynamique qui réinjecte régulièrement du matériel génétique de bonne qualité. Ce matériel sera réutilisé pendant quelques années (2à3) suivant les règles des systèmes informels avant de se faire renouveler.

Mención Internacional en el título de doctor ; Implantable Medical Devices (IMDs) are electronic devices implanted within the body to treat a medical condition, monitor the state or improve the functioning of some body part, or just to provide the patient with a capability that he did not possess before [86]. Current examples of IMDs include pacemakers and defibrillators to monitor and treat cardiac conditions; neurostimulators for deep brain stimulation in cases such as epilepsy or Parkinson; drug delivery systems in the form of infusion pumps; and a variety of biosensors to acquire and process different biosignals. Some of the newest IMDs have started to incorporate numerous communication and networking functions—usually known as "telemetry"—, as well as increasingly more sophisticated computing capabilities. This has provided implants with more intelligence and patients with more autonomy, as medical personnel can access data and reconfigure the implant remotely (i.e., without the patient being physically present in medical facilities). Apart from a significant cost reduction, telemetry and computing capabilities also allow healthcare providers to constantly monitor the patient's condition and to develop new diagnostic techniques based on an Intra Body Network (IBN) of medical devices [25, 26, 201]. Evolving from a mere electromechanical IMD to one with more advanced computing and communication capabilities has many benefits but also entails numerous security and privacy risks for the patient. The majority of such risks are relatively well known in classical computing scenarios, though in many respects their repercussions are far more critical in the case of implants. Attacks against an IMD can put at risk the safety of the patient who carries it, with fatal consequences in certain cases. Causing an intentional malfunction of an implant can lead to death and, as recognized by the U.S. Food and Drug Administration (FDA), such deliberate attacks could be far more difficult to detect than accidental ones [61]. Furthermore, these devices store and transmit very sensitive medical information that requires protection, as dictated by European (e.g., Directive 95/46/ECC) and U.S. (e.g., CFR 164.312) Directives [94, 204]. The wireless communication capabilities present in many modern IMDs are a major source of security risks, particularly while the patient is in open (i.e., non-medical) environments. To begin with, the implant becomes no longer "invisible", as its presence could be remotely detected [48]. Furthermore, it facilitates the access to transmitted data by eavesdroppers who simply listen to the (insecure) channel [83]. This could result in a major privacy breach, as IMDs store sensitive information such as vital signals, diagnosed conditions, therapies, and a variety of personal data (e.g., birth date, name, and other medically relevant identifiers). A vulnerable communication channel also makes it easier to attack the implant in ways similar to those used against more common computing devices [118, 129, 156], i.e., by forging, altering, or replying previously captured messages [82]. This could potentially allow an adversary to monitor and modify the implant without necessarily being close to the victim [164]. In this regard, the concerns of former U.S. vice-president Dick Cheney constitute an excellent example: he had his Implantable Cardioverter Defibrillator (ICD) replaced by another without WiFi capability [219]. While there are still no known real-world incidents, several attacks on IMDs have been successfully demonstrated in the lab [83, 133, 143]. These attacks have shown how an adversary can disable or reprogram therapies on an ICD with wireless connectivity, and even inducing a shock state to the patient [65]. Other attacks deplete the battery and render the device inoperative [91], which often implies that the patient must undergo a surgical procedure to have the IMD replaced. Moreover, in the case of cardiac implants, they have a switch that can be turned off merely by applying a magnetic field [149]. The existence of this mechanism is motivated by the need to shield ICDs to electromagnetic fields, for instance when the patient undergoes cardiac surgery using electrocautery devices [47]. However, this could be easily exploited by an attacker, since activating such a primitive mechanism does not require any kind of authentication. In order to prevent attacks, it is imperative that the new generation of IMDs will be equipped with strong mechanisms guaranteeing basic security properties such as confidentiality, integrity, and availability. For example, mutual authentication between the IMD and medical personnel is essential, as both parties must be confident that the other end is who claims to be. In the case of the IMD, only commands coming from authenticated parties should be considered, while medical personnel should not trust any message claiming to come from the IMD unless sufficient guarantees are given. Preserving the confidentiality of the information stored in and transmitted by the IMD is another mandatory aspect. The device must implement appropriate security policies that restrict what entities can reconfigure the IMD or get access to the information stored in it, ensuring that only authorized operations are executed. Similarly, security mechanisms have to be implemented to protect the content of messages exchanged through an insecure wireless channel. Integrity protection is equally important to ensure that information has not been modified in transit. For example, if the information sent by the implant to the Programmer is altered, the doctor might make a wrong decision. Conversely, if a command sent to the implant is forged, modified, or simply contains errors, its execution could result in a compromise of the patient's physical integrity. Technical security mechanisms should be incorporated in the design phase and complemented with appropriate legal and administrative measures. Current legislation is rather permissive in this regard, allowing the use of implants like ICDs that do not incorporate any security mechanisms. Regulatory authorities like the FDA in the U.S or the EMA (European Medicines Agency) in Europe should promote metrics and frameworks for assessing the security of IMDs. These assessments should be mandatory by law, requiring an adequate security level for an implant before approving its use. Moreover, both the security measures supported on each IMD and the security assessment results should be made public. Prudent engineering practices well known in the safety and security domains should be followed in the design of IMDs. If hardware errors are detected, it often entails a replacement of the implant, with the associated risks linked to a surgery. One of the main sources of failure when treating or monitoring a patient is precisely malfunctions of the device itself. These failures are known as "recalls" or "advisories", and it is estimated that they affect around 2.6% of patients carrying an implant. Furthermore, the software running on the device should strictly support the functionalities required to perform the medical and operational tasks for what it was designed, and no more [66, 134, 213]. In Chapter 1, we present a survey of security and privacy issues in IMDs, discuss the most relevant mechanisms proposed to address these challenges, and analyze their suitability, advantages, and main drawbacks. In Chapter 2, we show how the use of highly compressed electrocardiogram (ECG) signals (only 24 coefficients of Hadamard Transform) is enough to unequivocally identify individuals with a high performance (classification accuracy of 97% and with identification system errors in the order of 10−2). In Chapter 3 we introduce a new Continuous Authentication scheme that, contrarily to previous works in this area, considers ECG signals as continuous data streams. The proposed ECG-based CA system is intended for real-time applications and is able to offer an accuracy up to 96%, with an almost perfect system performance (kappa statistic > 80%). In Chapter 4, we propose a distance bounding protocol to manage access control of IMDs: ACIMD. ACIMD combines two features namely identity verification (authentication) and proximity verification (distance checking). The authentication mechanism we developed conforms to the ISO/IEC 9798-2 standard and is performed using the whole ECG signal of a device holder, which is hardly replicable by a distant attacker. We evaluate the performance of ACIMD using ECG signals of 199 individuals over 24 hours, considering three adversary strategies. Results show that an accuracy of 87.07% in authentication can be achieved. Finally, in Chapter 5 we extract some conclusions and summarize the published works (i.e., scientific journals with high impact factor and prestigious international conferences). ; Los Dispositivos Médicos Implantables (DMIs) son dispositivos electrónicos implantados dentro del cuerpo para tratar una enfermedad, controlar el estado o mejorar el funcionamiento de alguna parte del cuerpo, o simplemente para proporcionar al paciente una capacidad que no poseía antes [86]. Ejemplos actuales de DMI incluyen marcapasos y desfibriladores para monitorear y tratar afecciones cardíacas; neuroestimuladores para la estimulación cerebral profunda en casos como la epilepsia o el Parkinson; sistemas de administración de fármacos en forma de bombas de infusión; y una variedad de biosensores para adquirir y procesar diferentes bioseñales. Los DMIs más modernos han comenzado a incorporar numerosas funciones de comunicación y redes (generalmente conocidas como telemetría) así como capacidades de computación cada vez más sofisticadas. Esto ha propiciado implantes con mayor inteligencia y pacientes con más autonomía, ya que el personal médico puede acceder a los datos y reconfigurar el implante de forma remota (es decir, sin que el paciente esté físicamente presente en las instalaciones médicas). Aparte de una importante reducción de costos, las capacidades de telemetría y cómputo también permiten a los profesionales de la atención médica monitorear constantemente la condición del paciente y desarrollar nuevas técnicas de diagnóstico basadas en una Intra Body Network (IBN) de dispositivos médicos [25, 26, 201]. Evolucionar desde un DMI electromecánico a uno con capacidades de cómputo y de comunicación más avanzadas tiene muchos beneficios pero también conlleva numerosos riesgos de seguridad y privacidad para el paciente. La mayoría de estos riesgos son relativamente bien conocidos en los escenarios clásicos de comunicaciones entre dispositivos, aunque en muchos aspectos sus repercusiones son mucho más críticas en el caso de los implantes. Los ataques contra un DMI pueden poner en riesgo la seguridad del paciente que lo porta, con consecuencias fatales en ciertos casos. Causar un mal funcionamiento intencionado en un implante puede causar la muerte y, tal como lo reconoce la Food and Drug Administration (FDA) de EE.UU, tales ataques deliberados podrían ser mucho más difíciles de detectar que los ataques accidentales [61]. Además, estos dispositivos almacenan y transmiten información médica muy delicada que requiere se protegida, según lo dictado por las directivas europeas (por ejemplo, la Directiva 95/46/ECC) y estadunidenses (por ejemplo, la Directiva CFR 164.312) [94, 204]. Si bien todavía no se conocen incidentes reales, se han demostrado con éxito varios ataques contra DMIs en el laboratorio [83, 133, 143]. Estos ataques han demostrado cómo un adversario puede desactivar o reprogramar terapias en un marcapasos con conectividad inalámbrica e incluso inducir un estado de shock al paciente [65]. Otros ataques agotan la batería y dejan al dispositivo inoperativo [91], lo que a menudo implica que el paciente deba someterse a un procedimiento quirúrgico para reemplazar la batería del DMI. Además, en el caso de los implantes cardíacos, tienen un interruptor cuya posición de desconexión se consigue simplemente aplicando un campo magnético intenso [149]. La existencia de este mecanismo está motivada por la necesidad de proteger a los DMIs frete a posibles campos electromagnéticos, por ejemplo, cuando el paciente se somete a una cirugía cardíaca usando dispositivos de electrocauterización [47]. Sin embargo, esto podría ser explotado fácilmente por un atacante, ya que la activación de dicho mecanismo primitivo no requiere ningún tipo de autenticación. Garantizar la confidencialidad de la información almacenada y transmitida por el DMI es otro aspecto obligatorio. El dispositivo debe implementar políticas de seguridad apropiadas que restrinjan qué entidades pueden reconfigurar el DMI o acceder a la información almacenada en él, asegurando que sólo se ejecuten las operaciones autorizadas. De la misma manera, mecanismos de seguridad deben ser implementados para proteger el contenido de los mensajes intercambiados a través de un canal inalámbrico no seguro. La protección de la integridad es igualmente importante para garantizar que la información no se haya modificado durante el tránsito. Por ejemplo, si la información enviada por el implante al programador se altera, el médico podría tomar una decisión equivocada. Por el contrario, si un comando enviado al implante se falsifica, modifica o simplemente contiene errores, su ejecución podría comprometer la integridad física del paciente. Los mecanismos de seguridad deberían incorporarse en la fase de diseño y complementarse con medidas legales y administrativas apropiadas. La legislación actual es bastante permisiva a este respecto, lo que permite el uso de implantes como marcapasos que no incorporen ningún mecanismo de seguridad. Las autoridades reguladoras como la FDA en los Estados Unidos o la EMA (Agencia Europea de Medicamentos) en Europa deberían promover métricas y marcos para evaluar la seguridad de los DMIs. Estas evaluaciones deberían ser obligatorias por ley, requiriendo un nivel de seguridad adecuado para un implante antes de aprobar su uso. Además, tanto las medidas de seguridad implementadas en cada DMI como los resultados de la evaluación de su seguridad deberían hacerse públicos. Buenas prácticas de ingeniería en los dominios de la protección y la seguridad deberían seguirse en el diseño de los DMIs. Si se detectan errores de hardware, a menudo esto implica un reemplazo del implante, con los riesgos asociados y vinculados a una cirugía. Una de las principales fuentes de fallo al tratar o monitorear a un paciente es precisamente el mal funcionamiento del dispositivo. Estos fallos se conocen como "retiradas", y se estima que afectan a aproximadamente el 2,6 % de los pacientes que llevan un implante. Además, el software que se ejecuta en el dispositivo debe soportar estrictamente las funcionalidades requeridas para realizar las tareas médicas y operativas para las que fue diseñado, y no más [66, 134, 213]. En el Capítulo 1, presentamos un estado de la cuestión sobre cuestiones de seguridad y privacidad en DMIs, discutimos los mecanismos más relevantes propuestos para abordar estos desafíos y analizamos su idoneidad, ventajas y principales inconvenientes. En el Capítulo 2, mostramos cómo el uso de señales electrocardiográficas (ECGs) altamente comprimidas (sólo 24 coeficientes de la Transformada Hadamard) es suficiente para identificar inequívocamente individuos con un alto rendimiento (precisión de clasificación del 97% y errores del sistema de identificación del orden de 10−2). En el Capítulo 3 presentamos un nuevo esquema de Autenticación Continua (AC) que, contrariamente a los trabajos previos en esta área, considera las señales ECG como flujos de datos continuos. El sistema propuesto de AC basado en señales cardíacas está diseñado para aplicaciones en tiempo real y puede ofrecer una precisión de hasta el 96%, con un rendimiento del sistema casi perfecto (estadístico kappa > 80 %). En el Capítulo 4, proponemos un protocolo de verificación de la distancia para gestionar el control de acceso al DMI: ACIMD. ACIMD combina dos características, verificación de identidad (autenticación) y verificación de la proximidad (comprobación de la distancia). El mecanismo de autenticación es compatible con el estándar ISO/IEC 9798-2 y se realiza utilizando la señal ECG con todas sus ondas, lo cual es difícilmente replicable por un atacante que se encuentre distante. Hemos evaluado el rendimiento de ACIMD usando señales ECG de 199 individuos durante 24 horas, y hemos considerando tres estrategias posibles para el adversario. Los resultados muestran que se puede lograr una precisión del 87.07% en la au tenticación. Finalmente, en el Capítulo 5 extraemos algunas conclusiones y resumimos los trabajos publicados (es decir, revistas científicas con alto factor de impacto y conferencias internacionales prestigiosas). ; Programa Oficial de Doctorado en Ciencia y Tecnología Informática ; Presidente: Arturo Ribagorda Garnacho.- Secretario: Jorge Blasco Alís.- Vocal: Jesús García López de Lacalle