IDEAS home Printed from
MyIDEAS: Login to save this paper or follow this series

Selection dynamics in the manufacturing industry during the crisis years: some evidences based on microdata

  • Marco Mariani


    (Istituto Regionale per la Programmazione Economica della Toscana)

  • Elena Pirani


    (Istituto Regionale per la Programmazione Economica della Toscana)

  • Elena Radicchi


    (University of Florence)

The economic crisis of the late 2000s has led many manufacturing companies to exit the market, due to poor performance or financial difficulties. The purpose of this study is to analyze which characteristics, both static and dynamic, play a role in the shaping of the firms’ exit decision. For this goal, we apply survival analysis techniques to an Italian regional case study, Tuscany, accounting for features of the firms observed both before and during the early years of the crisis. Our findings evidence that the selection process hits companies belonging to supplier-dominated sectors and industrial districts and, more in general, firms that before the crisis were already characterized by a low level of productivity or a poor overall efficiency. Results also suggest that lack of liquidity and inability to cover interest expenses are likely to bring to the exit during the crisis.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by Istituto Regionale per la Programmazione Economica della Toscana in its series Studi e approfondimenti with number 361.

in new window

Date of creation: Feb 2012
Date of revision:
Handle: RePEc:irp:essays:361
Contact details of provider: Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:irp:essays:361. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stefania Salvucci)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.