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Value Chains and the Great Recession: Evidence from Italian and German Firms

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  • Antonio Accetturo

    (Banca d'Italia)

  • Anna Giunta

    (Universit� Roma Tre)

Abstract

Global Value Chains (GVCs) have been one of the main transmission mechanisms of 2009 the Great Trade Collapse. Our paper provides a description of the effects of the crisis from a perspective that is both country-comparative (Germany and Italy) and on firm level. Two are the main conclusions: i) intermediate firms were hit by the crisis more than final firms; ii) firms� position in GVCs and their strategies explain part of the performance gap between Italian and German firms.

Suggested Citation

  • Antonio Accetturo & Anna Giunta, 2016. "Value Chains and the Great Recession: Evidence from Italian and German Firms," Questioni di Economia e Finanza (Occasional Papers) 304, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_304_15
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    Cited by:

    1. Cainelli, Giulio & Ganau, Roberto & Giunta, Anna, 2018. "Spatial agglomeration, Global Value Chains, and productivity. Micro-evidence from Italy and Spain," Economics Letters, Elsevier, vol. 169(C), pages 43-46.
    2. Daniele Curzi & Valentina C. Materia & Cristina Vaquero‐Piñeiro, 2023. "Innovation as a resilience strategy to economic crises for international food and drink firms," Agribusiness, John Wiley & Sons, Ltd., vol. 39(2), pages 303-321, March.
    3. Caio Torres Mazzi & Gideon Ndubuisi & Elvis Avenyo, 2020. "Exporters and global value chain participation: Firm-level evidence from South Africa," WIDER Working Paper Series wp-2020-145, World Institute for Development Economic Research (UNU-WIDER).
    4. Giacomo Fiorani & Alessio Cavicchi & Elisabetta Croci Angelini, 2016. "Prospettive strategiche per il Made in Italy agroalimentare: un?analisi esplorativa del mercato delle macchine professionali da caff? espresso secondo le 5 forze competitive di Porter," Economia agro-alimentare, FrancoAngeli Editore, vol. 18(1), pages 53-71.
    5. Brancati, Emanuele & Pietrobelli, Carlo & Torres Mazzi, Caio, 2021. "The influence of value-chain governance on innovation performance: A study of Italian suppliers," MERIT Working Papers 2021-017, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    6. Giovanni Marin & Marco Modica, 2021. "Local demand shocks and firms' survival: An application to the Italian economy during the Great Recession," Papers in Regional Science, Wiley Blackwell, vol. 100(3), pages 745-775, June.
    7. Bosio,Erica & Djankov,Simeon & Jolevski,Filip & Ramalho,Rita, 2020. "Survival of Firms during Economic Crisis," Policy Research Working Paper Series 9239, The World Bank.
    8. Torres Mazzi, Caio & Foster-McGregor, Neil & Estefânia de Sousa Ferreira, Glaucia, 2021. "Production fragmentation and upgrading opportunities for exporters: An empirical assessment of the case of Brazil," World Development, Elsevier, vol. 138(C).
    9. Torres Mazzi, Caio, 2019. "Brazilian exporters and the rise of Global Value Chains: an empirical assessment," MERIT Working Papers 2019-014, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    10. Eleonora Bartoloni & Alessandro Arrighetti & Fabio Landini, 2021. "Recession and firm survival: is selection based on cleansing or skill accumulation?," Small Business Economics, Springer, vol. 57(4), pages 1893-1914, December.
    11. Nenci, Silvia & Fusacchia, Ilaria & Giunta, Anna & Montalbano, Pierluigi & Pietrobelli, Carlo, 2022. "Mapping global value chain participation and positioning in agriculture and food: stylised facts, empirical evidence and critical issues," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 11(2), July.
    12. Emanuele Breda & Lucia Schiavon, 2017. "L?evoluzione del sistema moda in Veneto," ECONOMIA E SOCIET? REGIONALE, FrancoAngeli Editore, vol. 2017(3), pages 148-169.
    13. Ilaria Fusacchia & Alessandro Antimiani & Luca Salvatici, 2021. "An assessment of import tariff costs for Italian exporting firms," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(1), pages 31-56, April.
    14. Mariarosaria Agostino & Emanuele Brancati & Anna Giunta & Domenico Scalera & Francesco Trivieri, 2020. "Firms' efficiency and global value chains: An empirical investigation on Italian industry," The World Economy, Wiley Blackwell, vol. 43(4), pages 1000-1033, April.
    15. Jacopo Canello & Paolo Pavone & Saverio Testa, 2017. "Same same, but different: the heterogeneous nature of subcontractors inside Italian industrial districts," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 29(7-8), pages 791-813, August.
    16. Brancati, Emanuele & Brancati, Raffaele, 2020. "Heterogeneous Shocks in the Covid-19 Pandemic: Panel Evidence from Italian Firms," GLO Discussion Paper Series 649, Global Labor Organization (GLO).
    17. Giunta, A. & Montalbano, P. & Nenci, S., 2022. "Consistency of micro- and macro-level data on global value chains: Evidence from selected European countries," International Economics, Elsevier, vol. 171(C), pages 130-142.
    18. Emanuele Brancati & Raffaele Brancati & Dario Guarascio & Andrea Maresca & Manuel Romagnoli & Antonello Zanfei, 2018. "Firm-level Drivers of Export Performance and External Competitiveness in Italy," European Economy - Discussion Papers 087, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    19. Lorenzo Cresti & Giovanni Dosi & Federico Riccio & Maria Enrica Virgillito, 2023. "Italy and the Trap of GVC Downgrading: Labour Dependence in the European Geography of Production," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 9(3), pages 869-906, November.
    20. Cainelli, Giulio & Ganau, Roberto & Giunta, Anna, 2022. "Business groups, institutions, and firm performance," LSE Research Online Documents on Economics 114553, London School of Economics and Political Science, LSE Library.
    21. Emanuele Brancati & Raffaele Brancati & Andrea Maresca, 2017. "Global value chains, innovation and performance: firm-level evidence from the Great Recession," Journal of Economic Geography, Oxford University Press, vol. 17(5), pages 1039-1073.
    22. Lorenzo Cresti & Maria Enrica Virgillito, 2022. "Strategic sectors and essential jobs: a new taxonomy based on employment multipliers," LEM Papers Series 2022/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.

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    More about this item

    Keywords

    Global Value Chains; Germany; Italy; Industrial Firms; Firm Organization; World Trade;
    All these keywords.

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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