Multinational enterprises in Italy: insights from firm-level data

Gianmarco Cariola (), Giovanni Battista Carnevali (), Andrea Linarello, Francesco Manaresi (), Litterio Mirenda, Emanuele Russo (), Matteo Sartori and Gianluca Viggiano ()
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Gianmarco Cariola: Bank of Italy
Giovanni Battista Carnevali: Bank of Italy
Francesco Manaresi: Bank of Italy
Emanuele Russo: Bank of Italy
Gianluca Viggiano: Bank of Italy

No 894, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper assesses the economic significance of multinational enterprises (MNEs) in the Italian business sector. Using a novel database that integrates various sources of information on firm ownership and activities between 2010 and 2022, we present several key insights regarding MNEs. MNEs account for one-fifth of employment and over 35% of value added, with marked differences between Northern and Southern Italy. Even after accounting for sectoral and geographic specialization, MNEs are shown to be larger and more productive than non-MNEs. We also provide evidence of a substantial wage premium associated with MNEs. Over the past decade, MNEs have contributed more than proportionately to the growth in firm size observed in Italy. They are also found to be more innovative and more export-oriented, partly because of intra-group trade.

Keywords: multinational firms; economic growth; wage premium; intra-group trade (search for similar items in EconPapers)
JEL-codes: F23 F43 L25 (search for similar items in EconPapers)
Date: 2024-11
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_894_24

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