Ricerc@Sapienza

This paper investigates the fragmentation of the EU innovation system in the field of renewable energy sources (RES)
by estimating the intensity and direction of knowledge spillovers over the years 1985–2010. We modify the original
double exponential knowledge diffusion model proposed by Caballero and Jaffe (1993) to provide information on the
degree of integration of EU countries’ RES knowledge bases and to assess how citation patterns changed over time.

The EBU represents a clear investment in administrative integration with clear implications for the constitutional features of the EU. This paper aims to give an analysis of the administrative arrangements, through which the functions of supervision and resolution are affecting the single financial market. This case study is very interesting because these functions represent a genuine novelty in the history of financial integration since they are pre-ordained to a specific public interest: financial stability.