Profile

Giorgio joined Newcastle University as Chair in Macroeconomics in 2013. He has been a Visiting Professor at the University of Malta, an Honorary Research Fellow at the University of Glasgow, a Visiting Scholar at the International Monetary Fund, and a Consultant to the World Bank.

Giorgio is currently Research Director of the Creative Industries Policy and Evidence Centre (Creative PEC), hosted by Newcastle University in partnership with the Royal Society of Arts, Manufactures and Commerce (RSA) and funded by the Arts and Humanities Council. For more information, visit www.pec.ac.uk

Giorgio holds a BA (Hons) from the University of Palermo, an MSc in Economics from the University of Glasgow, and a PhD in Economics from the University of Strathclyde.

Giorgio’s research interests revolve around international macroeconomics, trade, finance, productivity and growth, regional economics, and the economics of creative industries.

On the above topics, he has published several papers in leading international journals, including the Journal of Money, Credit & Banking, Journal of Development Economics, Journal of International Money and Finance, Journal of Banking and Finance, Journal of Financial Stability, Journal of International Financial Markets, Institutions and Money, Economic Modelling, Review of Financial Economics, Open Economies Review, Regional Studies, Journal of Regional Science, International Regional Science Review, Growth and Change, Spatial Economic Analysis, Cambridge Journal of Regions, Economy and Society, Technological Forecasting and Social Change, International Review of Law and Economics, Physical Review E, and in edited books. 

Giorgio has been Principal Investigator and Co-Investigator for large-scale research projects in Italy and the UK. He is currently the Research Director of the Creative Industries Policy and Evidence Centre (Creative PEC), a national centre led by Newcastle University in partnership with the Royal Society of Arts, Manufactures, and Commerce (RSA) and funded by the Arts and Humanities Council. To learn more about the Creative PEC, please click here.

For greater detail on papers and projects, please visit

https://sites.google.com/site/giorgiofazio/

Topics in Macroeconomics (postgraduate)

Past teaching: Topics in Applied Macroeconomics, Advanced Macroeconomics (undergraduate)

• Articles

  • Fazio G, Maioli S, Rujimora N. The twin innovation transitions of European regions. Regional Studies 2024, 59(1), 2309176.
  • Fazio G, Maioli S, Rujimora N. Building back greener, levelling-up or both? An assessment of the economic and environmental efficiency transition of UK regions. Papers in Regional Science 2024, 103(6), 100053.
  • Sleibi Y, Casalin F, Fazio G. Unconventional monetary policies and credit co-movement in the Eurozone. Journal of International Financial Markets, Institutions and Money 2023, 85, 101779.
  • Bakhshi H, Di Novo S, Fazio G. The "Great Lockdown" and cultural consumption in the UK. Journal of Cultural Economics 2023, 47, 555-587.
  • Enilov M, Fazio G, Ghoshray A. Global connectivity between commodity prices and national stock markets: A time-varying MIDAS analysis. International Journal of Finance & Economics 2023, 28(3), 2607-2619.
  • Di Novo S, Fazio G, Sapsed J, Siepel J. Starving the golden goose? Access to finance for innovators in the creative industries. Journal of Cultural Economics 2022, 46, 346-386.
  • Aronica M, Fazio G, Piacentino D. A micro-founded approach to regional innovation in Italy. Technological Forecasting and Social Change 2022, 176, 121494.
  • Aronica M, Fazio G, Piacentino D. SMEs' heterogeneity at the extensive margin and within the intensive margin of trade. Journal of International Trade and Economic Development 2021, 30(3), 439-467.
  • Sleibi Y, Casalin F, Fazio G. Bank-specific shocks and aggregate leverage: Empirical evidence from a panel of developed countries. Journal of Financial Stability 2020, 49, 100743.
  • Valenti D, Fazio G, Spagnolo B. Stabilizing effect of volatility in financial markets. Physical Review E 2018, 97(6), 062307.
  • Fazio G, Piacentino D. Convergence analysis for hierarchical longitudinal data. Economic Modelling 2018, 73, 89-99.
  • Bordo M, Choudri E, Fazio G, MacDonald R. The real exchange rate in the long run: Balassa-Samuelson effects reconsidered. Journal of International Money and Finance 2017, 75, 69-92.
  • Agnello L, Fazio G, Sousa RM. National Fiscal Consolidations and Regional Inequality in Europe. Cambridge Journal of Regions, Economy and Society 2016, 9(1), 59-80.
  • Fazio G, Modica M. Pareto or Log-normal? best fit and truncation in the distribution of all cities. Journal of Regional Science 2015, 55(5), 736-756.
  • Fazio G, Maltese E. Agglomeration externalities and the productivity of Italian firms. Growth and Change 2015, 46(3), 354-378.
  • Fazio G, Maltese E, Piacentino D. The Verdoorn Law at the regional level: Evidence from Europe. Rivista di Economia e Statistica del Territorio 2014, (2), 34-47.
  • Fazio G, Lavecchia L. Social capital formation across space. Proximity and trust in European regions. International Regional Science Review 2013, 36(3), 396-321.
  • Byrne JP, Fazio G, Fiess N. Primary commodity proces: Co-movements, common factors and fundamentals. Journal of Development Economics 2013, 101, 16-26.
  • Fazio G, Maltese E, Piacentino D. Estimating Verdoorn Law for Italian firms and regions. Letters in Spatial and Resource Sciences 2013, 6(1), 45-54.
  • Byrne JP, Fazio G, Fiess N. Interest rate co-movements, global factors and the long end of the term spread. Journal of Banking & Finance 2012, 36(1), 183-192.
  • Fazio G, Piacentino D. A spatial multilevel analysis of Italian SMEs' productivity. Spatial Economic Analysis 2010, 5(3), 299-316.
  • Byrne JP, Fazio G, Piacentino D. Total factor productivity convergence among Italian regions: Some evidence from panel unit root tests. Regional Studies 2009, 43(1), 63-76.
  • Byrne JP, Fazio G, Fiess N. The global side of the investment-saving puzzle. Journal of Money, Credit and Banking 2009, 41(5), 1033-1040.
  • Fazio G, MacDonald R, Mélitz J. Trade costs, trade balance and current accounts: an application of gravity to multilateral trade. Open Economies Review 2008, 19, 557-578.
  • Stephen FH, Fazio G, Tata C. Incentives, criminal defense lawyers and plea bargaining. International Review of Law and Economics 2008, 28(3), 212-219.

• Book Chapter

  • Fazio G, Maltese E, Piacentino D. Early Propensity to Migrate: A Descriptive Analysis from A Survey of Schooled Teenagers in a Southern Italian City. In: Bellandi, M; Biagi, B; Faggian, A; Marrocu, E; Usai, S, ed. Regional development trajectories beyond the crisis. Percorsi di sviluppo regionale oltre la crisi. FrancoAngeli Edizioni, 2018, pp.175-184.

• Online Publications

  • Jones J, Fazio G. The Nature of Foreign Direct Investment in the Creative Industries. Creative Industries Policy and Evidence Centre, 2022. Available at: https://pec.ac.uk/discussion-papers/the-nature-of-foreign-direct-investment-in-the-creative-industries.
  • Maioli S, Di Novo S, Fazio G, Sapsed J, Vermeulen W. The UK’s International Creative Trade: A Review of the Official Data Sources. Creative Industries Policy and Evidence Centre, 2021. Available at: https://www.pec.ac.uk/discussion-papers/the-uks-international-creative-trade-a-review-of-the-official-data-sources.
  • Di Novo S, Fazio G, Maioli S. Creative firms and trade: some stylised facts from the CIC Access to Finance Survey. Creative Industries Policy and Evidence Centre, 2021. Available at: https://www.pec.ac.uk/discussion-papers/creative-firms-and-trade.
  • Fazio G. A Review of Creative Trade in the Economics literature. Creative Industries Policy and Evidence Centre, 2021. Available at: https://www.pec.ac.uk/discussion-papers/a-review-of-creative-trade-in-the-economics-literature.
  • Vermeulen W, Di Novo S, Fazio G. International creative students: their significance for UK universities, regions and the creative industries. Creative Industries Policy and Evidence Centre, 2020. Available at: https://www.pec.ac.uk/discussion-papers/international-creative-students-their-significance-for-uk-universities-regions-and-the-creative-industries.

• Reports

  • Fazio G, Jones J, Maioli S, Simandjuntak D. UK Trade in a Global Creative Economy. Newcastle upon Tyne: Creative Industries Policy and Evidence Centre (Creative PEC), 2024. Creative PEC State of the Nations Research Series.
  • Jones J, Simandjuntak D, Maioli S, Fazio G. Foreign Direct Investment in the UK's Creative Industries. 2024. Creative PEC State of the Nations Research Series.
  • Di Novo S, Fazio G, Vermeulen W. 12 facts about the UK’s international trade in creative goods and services. London: Creative Industries Policy and Evidence Centre, 2020. PEC Research Report.