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The Italian industrial system between globalization and crisis

  • Antonio Accetturo,

    ()

    (Banca d'Italia)

  • Antonio Bassanetti

    ()

    (Banca d'Italia)

  • Matteo Bugamelli

    ()

    (Banca d'Italia)

  • Ivan Faiella

    ()

    (Banca d'Italia)

  • Paolo Finaldi Russo

    ()

    (Banca d'Italia)

  • Daniele Franco

    ()

    (Banca d'Italia)

  • Silvia Giacomelli

    ()

    (Banca d'Italia)

  • Massimo Omiccioli

    ()

    (Banca d'Italia)

This paper describes recent developments in the Italian industrial system and investigates the main factors affecting its competitiveness. Our analysis provides a picture of widespread weaknesses. Production levels in all industries are lower than those before the crisis; with the exception of the pharmaceutical and the food industries, the magnitude of production losses is alarming. These trends are indicative of a long-term decline that is shaping both the �traditional� industries (textile, clothing and leather products) as well as those that take advantage of complex technologies and achieve significant economies of scale (electronic products and motor vehicles). Our study links unsatisfactory productivity gains and the loss of international competitiveness to the difficulties of our industries to adapt to changes in the international economy during the last two decades; This has been due to factors that are both internal and external to firms� activities and which are affecting the technological and organizational progress of the whole economic system.

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File URL: http://www.bancaditalia.it/pubblicazioni/qef/2013-0193/QEF_193.pdf
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Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 193.

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Date of creation: Jul 2013
Date of revision:
Handle: RePEc:bdi:opques:qef_193_13
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