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The Irresistible Rise of the Craft-Brewing Sector in Italy: Can We Explain It?

Author

Listed:
  • Roberto ESPOSTI

    () (Universit… Politecnica delle Marche, Dipartimento di Scienze Economiche e Sociali)

  • Matteo FASTIGI

    (Universit… Politecnica delle Marche, Dipartimento di Scienze Economiche e Sociali)

  • Elena VIGANO'

    (University of Urbino, Department of Economics, Society, Politics)

Abstract

This paper empirically investigates the emergence of microbreweries in Italy over the last 20 years (period 1993-2014). This rise is expressed by the increasing number of entries in the sector actually accompanied, in most recent years, by an increasing number of exits. The paper proposes an empirical investigation of this entry-exit dynamics through a sequence of survival models. Three orders of possible determinants are considered. Beyond idiosyncratic characteristics, the other two order of factors are the exogenous evolution of the beer market and the specific geographical and local context. Estimation results show that, whereas market force and individual features unquestionably affects entry and exit choices, geographical and local factors are of limited relevance, especially for the entry process.

Suggested Citation

  • Roberto ESPOSTI & Matteo FASTIGI & Elena VIGANO', 2016. "The Irresistible Rise of the Craft-Brewing Sector in Italy: Can We Explain It?," Working Papers 414, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  • Handle: RePEc:anc:wpaper:414
    as

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    File URL: http://docs.dises.univpm.it/web/quaderni/pdf/414.pdf
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    References listed on IDEAS

    as
    1. Joshua Aizenman & Eileen Brooks, 2008. "Globalization and Taste Convergence: the Cases of Wine and Beer," Review of International Economics, Wiley Blackwell, vol. 16(2), pages 217-233, May.
    2. Richard Disney & Jonathan Haskel & Ylva Heden, 2003. "Entry, Exit and Establishment Survival in UK Manufacturing," Journal of Industrial Economics, Wiley Blackwell, vol. 51(1), pages 91-112, March.
    3. Pakes, Ariel & Ericson, Richard, 1998. "Empirical Implications of Alternative Models of Firm Dynamics," Journal of Economic Theory, Elsevier, vol. 79(1), pages 1-45, March.
    4. Swinnen, Johan F.M. (ed.), 2011. "The Economics of Beer," OUP Catalogue, Oxford University Press, number 9780199693801.
    5. Johan F.M.Swinnen & Liesbeth Colen, 2010. "Beer Drinking Nations. The Determinants of Global Beer Consumption," LICOS Discussion Papers 27010, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
    6. Gian Luca Clementi & Dino Palazzo, 2010. "Entry, Exit, Firm Dynamics, and Aggregate Fluctuations," Working Paper series 27_10, Rimini Centre for Economic Analysis.
    7. Christophe Bontemps & Zohra Bouamra-Mechemache & Michel Simioni, 2013. "Quality labels and firm survival: some first empirical evidence," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 40(3), pages 413-439, July.
    8. Richard E. Caves, 1998. "Industrial Organization and New Findings on the Turnover and Mobility of Firms," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 1947-1982, December.
    9. Roberto Esposti, 2002. "Institutional Structure, Industrialization and Rural Development: An Evolutionary Interpretation of the Italian Experience," Growth and Change, Wiley Blackwell, vol. 33(1), pages 3-41.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Beer industry; Craft brewing; Market entry and exit; Survival analysis;

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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