The Italian Firms between Crisis and the New Globalization

28 Pages Posted: 23 May 2011

See all articles by Antonio Accetturo

Antonio Accetturo

Bank of Italy

Anna Giunta

Department of Economics Roma Tre University

Salvatore Rossi

Bank of Italy

Date Written: January 28, 2011

Abstract

This paper analyzes the characteristics of Italian firms involved in global value chains (“intermediate” firms) by using the Bank of Italy survey on industrial companies. Intermediate firms show, on average, worse features than “final” firms: smaller size, lower share of white collars, lower productivity and export propensity. However we observe a strong heterogeneity, depending on the ability (and modalities) to upgrade along the value chains. There are wide differences between upgrading and non-upgrading (marginal) intermediate firms in terms of size, efficiency, human capital endowment and international competitiveness. During the 2008-09 crisis, marginal intermediate firms performed definitely worse; moreover, facing a collapse in world trade, firms that were upgrading by expanding their international linkages were more severely hit than those that were differentiating their internal functions.

Keywords: fragmentation, offshoring, upgrading

JEL Classification: D23, L23, L24

Suggested Citation

Accetturo, Antonio and Giunta, Anna and Rossi, Salvatore, The Italian Firms between Crisis and the New Globalization (January 28, 2011). Bank of Italy Occasional Paper No. 86, Available at SSRN: https://ssrn.com/abstract=1849865 or http://dx.doi.org/10.2139/ssrn.1849865

Antonio Accetturo (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

Anna Giunta

Department of Economics Roma Tre University ( email )

Via Silvio D'Amico 77
Rome, 00145
Italy

Salvatore Rossi

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

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