Exports from the European regions during the crisis and in the long run

Chiara Bentivogli, Paolo Chiades (paolo.chiades@bancaditalia.it), Cristina Fabrizi (cristina.fabrizi@bancaditalia.it), Elena Mattevi (elena.mattevi@bancaditalia.it) and Andrea Petrella (andrea.petrella@bancaditalia.it)
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Paolo Chiades: Banca d'Italia
Cristina Fabrizi: Banca d'Italia
Elena Mattevi: Banca d'Italia

No 153, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper compares the return to pre-crisis levels and the long-term performance of exports in the main Italian regions compared with some European regions with a similar production structure. The results show that the intensity and timing of recovery in the cyclical component of exports were similar across the regions of the cluster. In the short run, Italian exporters adapted satisfactorily to changes in demand but the long-run trend has grown at a slower rate compared with European competitors, especially Germany. Italian regions began to lag behind in the first half of the decade 2000-2010. The slower long-term growth is due to the insufficient strengthening of trade relations in dynamic markets outside Europe, largely due to the small size of exporting firms, as well as the pattern of specialization that in some regions is still biased towards traditional products with a lower technological content.

Keywords: international trade; regional economies; business cycle (search for similar items in EconPapers)
JEL-codes: E32 F10 R11 (search for similar items in EconPapers)
Date: 2013-02
New Economics Papers: this item is included in nep-int
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Citations: View citations in EconPapers (1)

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