The internationalization of Italian production and industrial districts: an analysis of direct investment abroad
No 592, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research and International Relations Area
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 ï¿½industrial districtsï¿½. 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 Italyï¿½s 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)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wptemi:td_592_06
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