Quality upgrading of Italian manufactures: evidence from firms’ prices and strategies
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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 804.
Date of creation: Apr 2011
Date of revision:
Even before the global crisis; the Italian economy was in difficulties internationally; but slow growth and a declining share of world trade were accompanied by a perceptible process of manufacturing transformation. This paper; using data from the Bank of Italy’; s survey of manufacturers; measures a crucial aspect of the transformation; namely quality upgrading; from 2000 to 2006. The gauge of upgrading; not used in earlier literature; is the portion of price changes representing the return to value creation; both tangible (new products and improvement of existing ones) and intangible (branding policies). We find evidence of upgrading capable of explaining a quarter of the firms’; average annual price increases (about 0.5 out of 2 percentage points); with roughly equal effects from the tangible and the intangible components. The analysis also shows that strategies of product upgrading helped foster job creation and sales growth.;
Find related papers by JEL classification:
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
- M30 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-24 (All new papers)
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