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The Irresistible Rise of the Craft-Brewing Sector in Italy: Can We Explain It?

Author

Listed:
  • Roberto ESPOSTI

    (Universit… Politecnica delle Marche, Dipartimento di Scienze Economiche e Sociali)

  • Matteo FASTIGI

    (Universit… Politecnica delle Marche, Dipartimento di Scienze Economiche e Sociali)

  • Elena VIGANO'

    (University of Urbino, Department of Economics, Society, Politics)

Abstract

This paper empirically investigates the emergence of microbreweries in Italy over the last 20 years (period 1993-2014). This rise is expressed by the increasing number of entries in the sector actually accompanied, in most recent years, by an increasing number of exits. The paper proposes an empirical investigation of this entry-exit dynamics through a sequence of survival models. Three orders of possible determinants are considered. Beyond idiosyncratic characteristics, the other two order of factors are the exogenous evolution of the beer market and the specific geographical and local context. Estimation results show that, whereas market force and individual features unquestionably affects entry and exit choices, geographical and local factors are of limited relevance, especially for the entry process.

Suggested Citation

  • Roberto ESPOSTI & Matteo FASTIGI & Elena VIGANO', 2016. "The Irresistible Rise of the Craft-Brewing Sector in Italy: Can We Explain It?," Working Papers 414, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    • Handle: RePEc:anc:wpaper:414
    as

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    File URL: http://docs.dises.univpm.it/web/quaderni/pdf/414.pdf
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    References listed on IDEAS

    as
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    6. Roberto Esposti & Franco Sotte, 2002. "Institutional Structure, Industrialization and Rural Development: An Evolutionary Interpretation of the Italian Experience," Growth and Change, Wiley Blackwell, vol. 33(1), pages 3-41.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Beer industry; Craft brewing; Market entry and exit; Survival analysis;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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