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Tommaso Porzio

Tommaso Porzio is the Daniel W. Stanton Associate Professor in the Economics Division at Columbia Business School. He is also a faculty research fellow at the National Bureau of Economic Research (NBER) and an affiliate of BREAD, CEPR, and Y-RISE. Tommaso is a macro-development economist, and his research focuses on understanding the fundamental causes of cross-country income differences and designing policies to address them. Tommaso holds a Ph.D. from Yale University and Msc and BA from Bocconi University. Before joining Columbia, he was an Assistant Professor at University of California, San Diego.
Development

The Foreignness of Africa’s Startup Ecosystem

Emanuele Colonnelli
Startups in Africa rely heavily on an equity market dominated by foreign investors and founders who studied or worked outside the continent. In new research, Emanuele Colonnelli, Marcio Cruz, Mariana Pereira-Lopez, Tommaso Porzio and Chun Zhao show that this dynamic exists because local equity is expensive, the pool of local entrepreneurs seeking out funding is small, and local entrepreneurs have limited access to foreign investors.

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The publication of the Stigler Center at The University of Chicago Booth School of Business

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