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Trends in Italy’s Nonprice Competitiveness

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  • Bogdan Lissovolik
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    Abstract

    Italy''s medium-term economic performance has raised "standard" competitiveness concerns as unit labor costs surged, and real export growth fell. But the recent economic upturn, low current account deficit, and robust nominal exports argue for less pessimism. An empirical analysis confirms the standard concerns, but also suggests that "residual" factors, which partly reflect nonprice economic restructuring, have supported Italy''s real exports after 2005 (as in Germany but less so in France or Spain). An investigation of selected structural trends over the past decade offers some substantiation to Italy''s "restructuring story," including quality upgrading, geographical trade diversification, and outsourcing. But sluggish services, low FDI, and modest "technological" upgrading indicate limits to Italy''s restructuring.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/124.

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    Length: 34
    Date of creation: 01 May 2008
    Date of revision:
    Handle: RePEc:imf:imfwpa:08/124

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    Related research

    Keywords: Export competitiveness; Economic indicators; export growth; export performance; real exports; real export growth; export volumes; real export; export demand; export prices; unit labor costs; export market; export markets; export unit; export sectors; export diversification; exporters; trade flows; services exports; domestic demand; reer; export potential; export shares; export share; world exports; export structure; goods export; export deflator; export quality; balance of payments; world trade; external position; traditional exports; export dynamics; export volume; export indicators; employment growth; trading partners; export data; export market shares; share of world exports; exports of goods; export deflators; trade exports; export market share; trade volume; trade performance; global trade; export competition; share of exports; partner countries; import structure; benchmark ? equilibrium; total export; producer prices; intermediate goods; real import growth; changes in trade; traditional ? exports; policy regimes; global market; increased export; pattern of specialization; external financing; transport equipment; world market; metal products; current account deficit; intermediate inputs; real effective exchange rate; trade changes; increasing competition; domestic price; trade growth; imported inputs; world trade growth; terms of trade; export equation;

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    1. Ashoka Mody & Deniz Igan & Stefania Fabrizio, 2007. "The Dynamics of Product Quality and International Competitiveness," IMF Working Papers 07/97, International Monetary Fund.
    2. Matteo Bugamelli, 2007. "Prezzi delle esportazioni, qualità dei prodotti e caratteristiche di impresa: un'analisi su un campione di imprese italiane," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2007(3), pages 71-103.
    3. Stephan Danninger & Fred Joutz, 2007. "What Explains Germany’s Rebounding Export Market Share?," CESifo Working Paper Series 1957, CESifo Group Munich.
    4. Gordon de Brouwer & Neil R. Ericsson, 1995. "Modelling inflation in Australia," International Finance Discussion Papers 530, Board of Governors of the Federal Reserve System (U.S.).
    5. Finger, J M & Kreinin, M E, 1979. "A Measure of 'Export Similarity' and Its Possible Uses," Economic Journal, Royal Economic Society, vol. 89(356), pages 905-12, December.
    6. Silvia Sgherri, 2005. "Long-Run Productivity Shifts and Cyclical Fluctuations," IMF Working Papers 05/228, International Monetary Fund.
    7. André Sapir, 2005. "Un modello obsoleto? Crescita e specializzone dell'economia italiana," ULB Institutional Repository 2013/8122, ULB -- Universite Libre de Bruxelles.
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