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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.

Suggested Citation

  • Antonio Accetturo, & Antonio Bassanetti & Matteo Bugamelli & Ivan Faiella & Paolo Finaldi Russo & Daniele Franco & Silvia Giacomelli & Massimo Omiccioli, 2013. "The Italian industrial system between globalization and crisis," Questioni di Economia e Finanza (Occasional Papers) 193, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:opques:qef_193_13

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    Cited by:

    1. Alessandro Borin & Michele Mancini, 2016. "Foreign direct investment and firm performance: an empirical analysis of Italian firms," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 152(4), pages 705-732, November.
    2. Giovanni Ferri & Pierluigi Murro & Marco Pini, 2018. "Credit Rationing and the Relationship Between Family Businesses and Banks in Italy," CERBE Working Papers wpC24, CERBE Center for Relationship Banking and Economics.
    3. Francesco Manaresi & Filippo Scoccianti, 2017. "Battle scars. New firms’ capital, labor, and revenue growth during the double-dip recession," Questioni di Economia e Finanza (Occasional Papers) 390, Bank of Italy, Economic Research and International Relations Area.
    4. Libero Monteforte & Giordano Zevi, 2016. "An inquiry into manufacturing capacity in Italy after the double-dip recession," Questioni di Economia e Finanza (Occasional Papers) 302, Bank of Italy, Economic Research and International Relations Area.
    5. Alessandro Romagnoli & Manuel Romagnoli, 2016. "The innovation in the evolution of the ‘Italian industrial model’: lights and shadows," Economic Change and Restructuring, Springer, vol. 49(2), pages 309-337, August.
    6. Riccardo Cristadoro & Leandro D’Aurizio, 2015. "The Italian Firms’ International Activity," Questioni di Economia e Finanza (Occasional Papers) 261, Bank of Italy, Economic Research and International Relations Area.
    7. repec:spr:eurasi:v:8:y:2018:i:4:d:10.1007_s40821-018-0103-2 is not listed on IDEAS
    8. Francesco Manaresi & Nicola Pierri, 2017. "Credit Constraints and Firm Productivity: Evidence from Italy," Mo.Fi.R. Working Papers 137, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

    More about this item


    Italian Industrial System; Great Recession; Globalization; Productivity.;

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • F6 - International Economics - - Economic Impacts of Globalization

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