Exports from the European Regions During the Crisis and in the Long Run

Abstract

This paper compares the return to pre-crisis levels and the long-term performance of exports in the main Italian regions compared with some European regions with a similar production structure. The results show that the intensity and timing of recovery in the cyclical component of exports were similar across the regions of the cluster. In the short run, Italian exporters adapted satisfactorily to changes in demand but the long-run trend has grown at a slower rate compared with European competitors, especially Germany. Italian regions began to lag behind in the first half of the decade 2002-2013 The slower long-term growth is due to the insufficient strengthening of trade relations in dynamic markets outside Europe, largely due to the small size of exporting firms, as well as the pattern of specialization that in some regions is still biased towards traditional products with a lower technological content.

Note: Downloadable document is in Italian.

Keywords: international trade, regional economies, business cycle

JEL Classification: F10, R11, E32