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The internationalization of Italian production and industrial districts: an analysis of direct investment abroad

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  • Stefano Federico

    () (Bank of Italy)

Abstract

Using data from Ufficio italiano dei cambi for the period 1997-2001, the study analyses the distribution of foreign direct investment (FDI) outflows by sector and local area of origin. It tries to identify which local industrial structures determine a larger propensity to invest abroad, focusing especially on the role of �industrial districts�. Controlling for a set of variables, we do not find any evidence that the presence of districts has a positive impact on FDI, contrary to what happens for exports. FDI outflows are mainly generated from large firms in capital-intensive industries. Beyond contributing to the literature on industrial districts, the results help understanding why Italy�s FDI on GDP ratio is lower than in other advanced economies.

Suggested Citation

  • Stefano Federico, 2006. "The internationalization of Italian production and industrial districts: an analysis of direct investment abroad," Temi di discussione (Economic working papers) 592, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:wptemi:td_592_06
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    File URL: http://www.bancaditalia.it/pubblicazioni/temi-discussione/2006/2006-0592/tema_592_2.pdf
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    Cited by:

    1. Roberto Antonietti & Giulio Cainelli, 2007. "Spatial Agglomeration, Technology and Outsourcing of Knowledge Intensive Business Services Empirical Insights from Italy," Working Papers 2007.79, Fondazione Eni Enrico Mattei.

    More about this item

    Keywords

    Foreign direct investment; industrial clusters.;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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