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The internationalization of Italian production and industrial districts: an analysis of direct investment abroad

Stefano Federico

No 592, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: Using data from Ufficio italiano dei cambi for the period 1997-2001, the study analyses the distribution of foreign direct investment (FDI) outflows by sector and local area of origin. It tries to identify which local industrial structures determine a larger propensity to invest abroad, focusing especially on the role of �industrial districts�. Controlling for a set of variables, we do not find any evidence that the presence of districts has a positive impact on FDI, contrary to what happens for exports. FDI outflows are mainly generated from large firms in capital-intensive industries. Beyond contributing to the literature on industrial districts, the results help understanding why Italy�s FDI on GDP ratio is lower than in other advanced economies.

Keywords: Foreign direct investment; industrial clusters. (search for similar items in EconPapers)
JEL-codes: F21 L60 R11 (search for similar items in EconPapers)
Date: 2006-05
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