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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;

    This paper has been announced in the following NEP Reports:

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    1. de Brouwer, Gordon & Ericsson, Neil R, 1998. "Modeling Inflation in Australia," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(4), pages 433-49, October.
    2. Silvia Sgherri, 2005. "Long-Run Productivity Shifts and Cyclical Fluctuations: Evidence for Italy," IMF Working Papers 05/228, International Monetary Fund.
    3. Ashoka Mody & Deniz Igan & Stefania Fabrizio, 2007. "The Dynamics of Product Quality and International Competitiveness," IMF Working Papers 07/97, International Monetary Fund.
    4. Frederick L. Joutz & Stephan Danninger, 2007. "What Explains Germany's Rebounding Export Market Share?," IMF Working Papers 07/24, International Monetary Fund.
    5. André Sapir, 2005. "Un modello obsoleto? Crescita e specializzone dell'economia italiana," ULB Institutional Repository 2013/8122, ULB -- Universite Libre de Bruxelles.
    6. 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.
    7. 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.
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