Advanced Search
MyIDEAS: Login to save this paper or follow this series

Investire in Italia? Risultati di una recente indagine empirica

Contents:

Author Info

  • Marco Committeri

    ()
    (Banca d'Italia)

Abstract

During the past decade all industrial countries attracted sizeable inflows of foreign direct investment (FDI), excluding Italy and Japan: this fact has been interpreted as evidencing a deterioration in Italy’s structural competitiveness. This paper presents the results of a survey conducted by the Bank of Italy through its net of foreign representative offices, aimed at identifying the main factors that influenced the country’s attractiveness of FDI in the most recent years. The first section contains a brief survey of the literature on factors of attraction and obstacles to FDI. Italy’s position vis-à -vis other advanced countries is examined in the light of a wide variety of indicators: these latter include macroeconomic, qualitative and structural variables gathered from various sources (as well as other indicators expressly built for this paper), which are meant to outline circumstances relevant to different FDI strategies (“horizontal”, “vertical”, and “regional”). Italy enjoys two major “localization advantages”, namely, (1) a large, although somewhat stagnant domestic market, and (2) low unit labor costs, comparable to those prevailing in other “peripheral” European countries such as Spain, Portugal and Greece. In the backdrop of a general improvement of Italy’s qualitative and institutional indicators in recent years, one of the major obstacles to FDI in Italy pertains to the continuing low quality of its transport and product distribution infrastructures–a circumstance that cannot alone explain the very low level of FDI inflows. Another major impediment is represented by the dominance of small- and medium-sized enterprises in the Italian industry. On the one hand, this dimensional factor has been associated with the diffusion of ownership structures hostile to foreign mergers and acquisitions (M&A, the prevailing type of FDI in recent years); on the other hand, it may have clashed with the preferences of international investors, which are skewed towards the acquisition of medium- and large-sized enterprises. In either way, this circumstance may have strengthened the negative effects of “environmental barriers” that remain elevated anyhow in our country. The results of the survey are presented in the second section. The survey confirms some of the country’s improvements mentioned earlier; however, it also confirms the perception, on the part of foreign investors, of continuing institutional and structural backwardness, as well as the importance attached by these investors to such factors while formulating their investment plans.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.bancaditalia.it/pubblicazioni/econo/temidi/td04/td491_04/td491/tema_491.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 491.

as in new window
Length:
Date of creation: Mar 2004
Date of revision:
Handle: RePEc:bdi:wptemi:td_491_04

Contact details of provider:
Postal: Via Nazionale, 91 - 00184 Roma
Web page: http://www.bancaditalia.it
More information through EDIRC

Related research

Keywords: investimenti diretti e loro determinanti; fusioni e acquisizioni internazionali; competitivita' strutturale;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Roberto Basile & Luigi Benfratello & Davide Castellani, 2005. "Attracting Foreign Direct Investments in Europe: Are Italian Regions Doomed?," Rivista di Politica Economica, SIPI Spa, vol. 95(1), pages 319-, January-F.
  2. Daniele, Vittorio, 2007. "Criminalità e investimenti esteri. Un’analisi per le province italiane
    [The effect of organized crime on Foreign Investments. An Empirical Analysis for the Italian Provinces]
    ," MPRA Paper 6417, University Library of Munich, Germany.
  3. Vittorio, Daniele & Ugo, Marani, 2008. "Organized Crime and Foreign Direct Investment: the Italian Case," MPRA Paper 7217, University Library of Munich, Germany.
  4. Roberto Basile & Luigi Benfratello & Davide Castellani, 2005. "Attracting Foreign Investments in Europe - are Italian Regions Doomed?," ERSA conference papers ersa05p148, European Regional Science Association.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:bdi:wptemi:td_491_04. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.