The internationalization of Italian production and industrial districts: an analysis of direct investment abroad
AbstractUsing data from Ufficio italiano dei cambi for the period 1997-2001, the study analyses the distribution of foreign direct investment (FDI) outflows by sector and local area of origin. It tries to identify which local industrial structures determine a larger propensity to invest abroad, focusing especially on the role of Â“industrial districtsÂ”. Controlling for a set of variables, we do not find any evidence that the presence of districts has a positive impact on FDI, contrary to what happens for exports. FDI outflows are mainly generated from large firms in capital-intensive industries. Beyond contributing to the literature on industrial districts, the results help understanding why ItalyÂ’s FDI on GDP ratio is lower than in other advanced economies.
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Bibliographic InfoPaper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 592.
Date of creation: May 2006
Date of revision:
Foreign direct investment; industrial clusters.;
Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-07-09 (All new papers)
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- Roberto Antonietti & Giulio Cainelli, 2007. "Spatial Agglomeration, Technology and Outsourcing of Knowledge Intensive Business Services Empirical Insights from Italy," Working Papers 2007.79, Fondazione Eni Enrico Mattei.
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