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The drivers of Italian exports and product market entry: 1862-1913 (Updated August 2020)

Jacopo Timini

No 1836, Working Papers from Banco de España

Abstract: Between its Unification and WWI, Italy’s changing export composition echoed its economic transformation. In this paper I decompose Italian export growth in its margins, and then analyse the determinants of Italian exports and product market entry (and exit). To do so, I use two different databases (aggregate and product-level bilateral trade data) and methodologies (gravity and logit models). Besides confirming some well-known empirical and historical facts for the Italian case (gravity variables hold; trade follows a Heckscher-Olhin pattern), the regression results offer a new perspective on two distinctive features of its history: trade policy and emigration. These two factors are positively associated with Italian exports and product market entry. These findings also have additional implications for the role of emigration on the course of the Italian economy: accounting for the trade channel, its overall effect may be larger than previously thought.

Keywords: Italian exports; Market entry; First globalization; gravity models; logit models (search for similar items in EconPapers)
JEL-codes: F14 F15 N73 (search for similar items in EconPapers)
Pages: 51 pages
Date: 2018-10, Revised 2020-08
New Economics Papers: this item is included in nep-his and nep-int
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