The Italian technology balance of payments
AbstractThe technology balance of payments concerns external transactions in disembodied technology. Since the introduction in Italy of a new data collection system based mainly on direct reporting by enterprises, credits and debits tend to be appreciably greater than they had been under the old system based on bank settlements; the overall deficit increases, especially in sales or other transfers of patents, royalties and other licences. The new data and the revision of the time series from 1992 are presented for the first time in this paper. ItalyÂ’s trade in disembodied technology remains relatively low as a percentage of GDP by comparison with most of the advanced economies. Its deficit is concentrated with the advanced economies, while it has surpluses vis-Ã -vis non-EU countries in general and some developing countries in particular. More than half of exports can be ascribed to manufacturing enterprises, whose position is in balance; the deficit, instead, derives from the service sector, with the exception of professional services (notably architecture and engineering). Finally, trade in disembodied technology is concentrated in a limited number of multinational enterprises.
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Bibliographic InfoPaper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 207.
Date of creation: Oct 2013
Date of revision:
technology balance of payments; disembodied technology; royalties and licenses; research and development;
Find related papers by JEL classification:
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services
- L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
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