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Concluding Remarks

In: Structural Macroeconomic Change and the Size Pattern of Manufacturing Firms

Author

Listed:
  • Fabrizio Traù

    (Research Department of the Confederation of Italian Industries
    University of Cambridge)

Abstract

6.1 This book has made an attempt to explain the long-run changes in the size pattern of business firms in terms of the important changes which have affected the international macroeconomic environment since the late 1960s. We have argued that relevant discontinuities in macroeconomic conditions have brought about a radical change in the perception of the external business context by people in charge of the administration of firms, leading to a re-shaping of the organization of production activities. In this connection the last quarter of the twentieth century saw the re-emergence of a way of organizing production and trade based on a high degree of division of labour among firms (rather than within them). This phenomenon reflects a major reversal with respect to what had only thirty years earlier appeared to be the only possible form of development of the industrial system: namely, the primacy of large-scale business organizations characterized by a high degree of both vertical and conglomerate integration.

Suggested Citation

  • Fabrizio Traù, 2003. "Concluding Remarks," Palgrave Macmillan Books, in: Structural Macroeconomic Change and the Size Pattern of Manufacturing Firms, chapter 7, pages 119-127, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-4395-8_7
    DOI: 10.1057/9781403943958_7
    as

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