Deindustrialization and tertiarization: structural changes in North West Italy

Antonio Accetturo, Luciana Aimone (), Enrico Beretta (), Silvia Camussi (), Luigi Cannari (), Daniele Coin (), Laura Conti (), Roberto Cullino (), Alessandro Fabbrini (), Cristina Fabrizi (), Giovanni Iuzzolino (), Alessandra Mori (), Elisabetta Olivieri, Andrea Orame (), Anna Laura Mancini, Elena Mattevi (), Paolo Piselli, Davide Revelli (), Paola Rossi, Diego Scalise (), Alessandra Staderini (), Giulia Martina Tanzi () and Valerio Vacca
Additional contact information
Luciana Aimone: Bank of Italy
Enrico Beretta: Bank of Italy
Silvia Camussi: Bank of Italy
Daniele Coin: Bank of Italy
Laura Conti: Bank of Italy
Roberto Cullino: Bank of Italy
Alessandro Fabbrini: Bank of Italy
Cristina Fabrizi: Bank of Italy
Giovanni Iuzzolino: Bank of Italy
Alessandra Mori: Bank of Italy
Andrea Orame: Bank of Italy
Elena Mattevi: Bank of Italy
Davide Revelli: Bank of Italy
Diego Scalise: Bank of Italy
Alessandra Staderini: Bank of Italy
Giulia Martina Tanzi: Bank of Italy

No 282, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: The paper analyzes the recent evolution of the economies of the Italian North West, focusing on the phenomena of de-industrialization and the transition to a service economy. The comparison is made with a group of European regions defined as �advanced industrial.� Results show that the sluggish economic growth of the North West (which has worsened in the last decade) has taken place in a context of heavy economic structural changes. Some of these, which are specific to the North West, seem to have further hampered the competitiveness of the area, such as a too slow transition towards technology-intensive manufacturing sectors and to knowledge intensive services. The international comparison shows persistent gaps regarding important factors for growth and innovation; among these, the small firm size, delays in the human capital accumulation, the weakness of the economic and financial situation of enterprises. Even in the long recession, we observe signs of dynamism, like some highly competitive firms and territories, which are able to compete even at international level.

Keywords: growth; structural change; innovation; human capital; financial structure. (search for similar items in EconPapers)
JEL-codes: E2 E3 G2 L1 O3 (search for similar items in EconPapers)
Date: 2015-07
New Economics Papers: this item is included in nep-ino and nep-sbm
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