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The Italian industrial system between globalization and crisis

Antonio Accetturo (), Antonio Bassanetti (), Matteo Bugamelli, Ivan Faiella, Paolo Finaldi Russo, Daniele Franco (), Silvia Giacomelli and Massimo Omiccioli ()
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Antonio Bassanetti: Banca d'Italia
Massimo Omiccioli: Banca d'Italia

No 193, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper describes recent developments in the Italian industrial system and investigates the main factors affecting its competitiveness. Our analysis provides a picture of widespread weaknesses. Production levels in all industries are lower than those before the crisis; with the exception of the pharmaceutical and the food industries, the magnitude of production losses is alarming. These trends are indicative of a long-term decline that is shaping both the �traditional� industries (textile, clothing and leather products) as well as those that take advantage of complex technologies and achieve significant economies of scale (electronic products and motor vehicles). Our study links unsatisfactory productivity gains and the loss of international competitiveness to the difficulties of our industries to adapt to changes in the international economy during the last two decades; This has been due to factors that are both internal and external to firms� activities and which are affecting the technological and organizational progress of the whole economic system.

Keywords: Italian Industrial System; Great Recession; Globalization; Productivity. (search for similar items in EconPapers)
JEL-codes: L11 L25 O4 O30 O52 F6 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cse and nep-eff
Date: 2013-07
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Handle: RePEc:bdi:opques:qef_193_13