IDEAS home Printed from https://ideas.repec.org/p/par/dipeco/2018-ep01.html
   My bibliography  Save this paper

Eterogeneità delle imprese e stagnazione del capitalismo italiano

Author

Listed:
  • A. Arrighetti
  • F. Landini

Abstract

Questo lavoro offre una spiegazione della (apparente) stagnazione della produttività nel manifatturiero italiano negli anni che precedono la Grande Recessione. Contrariamente ad un’opinione diffusa che vuole l’Italia affetta da un declino della produttività uniforme e difficile da arrestare, l’effettiva stagnazione della produttività aggregata appare in realtà la risultante di un effetto composizione tra le performance di tipologie di imprese molto diverse. Alcune imprese nell’ultimo ventennio hanno adottato strategie proattive volte a migliorare il livello qualitativo e l’efficienza delle produzioni, ottenendo risultanti di rilievo anche e soprattutto nei mercati esteri. Altre si sono invece orientate su strategie di compressione dei costi, riducendo sensibilmente gli investimenti in capitale fisico e capitale umano. In mezzo a questi due estremi, ci sono poi imprese che hanno adottato orientamenti strategici misti caratterizzati da interventi, parziali, incompleti o poco coerenti tra loro. Queste tre tipologie di imprese presentano forti e persistenti differenziali di produttività intra-settoriale, che risultano particolarmente elevati nel confronto tra primo e secondo gruppo. Tali differenziali in aggregato tendono a compensarsi. A ciò si aggiungono differenziali di profittabilità molto contenuti. La combinazione di questi effetti determina una persistente stagnazione della produttività aggregata. La nostra tesi è che questa differenziazione dei profili strategici sia il risultato dei cambiamenti economici e istituzionali che hanno caratterizzato l’economia italiana tra la seconda metà degli anni Novanta e l’inizio degli anni Duemila. Tali cambiamenti includono sia shock esterni come l’avvento della globalizzazione, sia intensi percorsi di riforma istituzionale aventi per oggetto una ampia varietà di aspetti come mercato del lavoro, fiscalità d’impresa, diritto societario, mercato dei capitali e regolazione monetaria.

Suggested Citation

  • A. Arrighetti & F. Landini, 2018. "Eterogeneità delle imprese e stagnazione del capitalismo italiano," Economics Department Working Papers 2018-EP01, Department of Economics, Parma University (Italy).
  • Handle: RePEc:par:dipeco:2018-ep01
    as

    Download full text from publisher

    File URL: http://www.swrwebeco.unipr.it/RePEc/pdf/I_2018-01.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mirella DAMIANI & Fabrizio POMPEI & Andrea RICCI, 2016. "Temporary employment protection and productivity growth in EU economies," International Labour Review, International Labour Organization, vol. 155(4), pages 587-622, December.
    2. Da Silveira, Giovani & Borenstein, Denis & Fogliatto, Flavio S., 2001. "Mass customization: Literature review and research directions," International Journal of Production Economics, Elsevier, vol. 72(1), pages 1-13, June.
    3. Susana Iranzo & Fabiano Schivardi & Elisa Tosetti, 2008. "Skill Dispersion and Firm Productivity: An Analysis with Employer-Employee Matched Data," Journal of Labor Economics, University of Chicago Press, vol. 26(2), pages 247-285, April.
    4. Tang, Heiwai, 2012. "Labor market institutions, firm-specific skills, and trade patterns," Journal of International Economics, Elsevier, vol. 87(2), pages 337-351.
    5. Elisa Ughetto, 2008. "The Financing of Innovative Activities by Banking Institutions: Policy Issues and Regulatory Options," Palgrave Macmillan Books, in: Blandine Laperche & Dimitri Uzunidis (ed.), Powerful Finance and Innovation Trends in a High-Risk Economy, chapter 13, pages 224-247, Palgrave Macmillan.
    6. Gabi Dei Ottati, 2018. "Marshallian Industrial Districts in Italy: the end of a model or adaptation to the global economy? [Banks’ localism and industrial districts]," Cambridge Journal of Economics, Oxford University Press, vol. 42(2), pages 259-284.
    7. Criscuolo, Chiara & Haskel, Jonathan E. & Slaughter, Matthew J., 2010. "Global engagement and the innovation activities of firms," International Journal of Industrial Organization, Elsevier, vol. 28(2), pages 191-202, March.
    8. Lorenzo Cappellari & Carlo Dell’Aringa & Marco Leonardi, 2012. "Temporary Employment, Job Flows and Productivity: A Tale of Two Reforms," Economic Journal, Royal Economic Society, vol. 122(562), pages 188-215, August.
    9. Broadberry, Stephen & Giordano, Claire & Zollino, Francesco, 2011. "A Sectoral Analysis of Italy's Development: 1861 -2010," CAGE Online Working Paper Series 62, Competitive Advantage in the Global Economy (CAGE).
    10. Hall, Peter A. & Gingerich, Daniel W., 2004. "Varieties of Capitalism and Institutional Complementarities in the Macroeconomy," MPIfG Discussion Paper 04/5, Max Planck Institute for the Study of Societies.
    11. Sara Calligaris, 2015. "Misallocation and Total Factor Productivity in Italy: Evidence from Firm-Level Data," LABOUR, CEIS, vol. 29(4), pages 367-393, December.
    12. Patrizio Bianchi, 2004. "L'industria italiana," Rivista italiana degli economisti, Società editrice il Mulino, issue 1, pages 117-138.
    13. Elke J. Jahn & Regina T. Riphahn & Claus Schnabel, 2012. "Feature: Flexible Forms of Employment: Boon and Bane," Economic Journal, Royal Economic Society, vol. 122(562), pages 115-124, August.
    14. Leonello Tronti, 2010. "The Italian productivity slow-down: the role of the bargaining model," International Journal of Manpower, Emerald Group Publishing, vol. 31(7), pages 770-792, October.
    15. Valter Di Giacinto & Giacinto Micucci, 2012. "Il miglioramento qualitativo delle produzioni italiane: evidenze da prezzi e strategie delle imprese," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2012(4), pages 63-110.
    16. Blandine Laperche & Dimitri Uzunidis (ed.), 2008. "Powerful Finance and Innovation Trends in a High-Risk Economy," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-58409-9, June.
    17. Etienne Wasmer, 2006. "General versus Specific Skills in Labor Markets with Search Frictions and Firing Costs," American Economic Review, American Economic Association, vol. 96(3), pages 811-831, June.
    18. Andrea Linarello & Andrea Petrella, 2017. "Productivity and Reallocation: Evidence from the Universe of Italian Firms," International Productivity Monitor, Centre for the Study of Living Standards, vol. 32, pages 116-136, Spring.
    19. Sforzi, Fabio, 2015. "Rethinking the industrial district: 35 years later," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 32, pages 11-29.
    20. Fogliatto, Flavio S. & da Silveira, Giovani J.C. & Borenstein, Denis, 2012. "The mass customization decade: An updated review of the literature," International Journal of Production Economics, Elsevier, vol. 138(1), pages 14-25.
    21. Crafts, Nicolas & Magnani, Marco, 2011. "The Golden Age and the Second Globalization in Italy," CAGE Online Working Paper Series 61, Competitive Advantage in the Global Economy (CAGE).
    22. Lorenzo Codogno, "undated". "Two Italian Puzzles: Are Productivity Growth and Competitiveness Really so Depressed?," Working Papers wp2009-2, Department of the Treasury, Ministry of the Economy and of Finance.
    23. A. Arrighetti & R. Brancati & A. Lasagni & A. Maresca, 2015. "Firms’ heterogeneity and performance in manufacturing during the great recession," Economics Department Working Papers 2015-EP03, Department of Economics, Parma University (Italy).
    24. Haltiwanger, John & Scarpetta, Stefano & Schweiger, Helena, 2014. "Cross country differences in job reallocation: The role of industry, firm size and regulations," Labour Economics, Elsevier, vol. 26(C), pages 11-25.
    25. Andrea Bianchi, 2008. "Industria 2015: una politica industriale al servizio del cambiamento," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2008(3), pages 225-233.
    26. Cceilia Iona Lasino & Giovanna Vallanti, 2011. "Reforms, labour market functioning and productivity dynamics: a sectoral analysis for Italy," Working Papers LuissLab 1193, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    27. Luca Enriques & Paolo Volpin, 2007. "Corporate Governance Reforms in Continental Europe," Journal of Economic Perspectives, American Economic Association, vol. 21(1), pages 117-140, Winter.
    28. Cingano, Federico, 2003. "Returns to specific skills in industrial districts," Labour Economics, Elsevier, vol. 10(2), pages 149-164, April.
    29. Mario Biagioli & Emilio Reyneri & Gilberto Seravalli, 2004. "Flessibilità del mercato del lavoro e coesione sociale," Stato e mercato, Società editrice il Mulino, issue 2, pages 277-314.
    30. Sergio de Nardis & Carmine Pappalardo, 2009. "Export, Productivity and Product Switching: The Case of Italian Manufacturing Firms," ISAE Working Papers 110, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
    31. A. Arrighetti & F. Traù, 2006. "Struttura industriale e architetture organizzative. Ipotesi sul "ritorno" della gerarchia," Economics Department Working Papers 2006-EP02, Department of Economics, Parma University (Italy).
    32. Elena Golovko & Giovanni Valentini, 2011. "Exploring the complementarity between innovation and export for SMEs’ growth," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 42(3), pages 362-380, April.
    33. De Nardis, Sergio & Pensa, Cristina, 2004. "How Intense is Competition in International Markets of Traditional Goods? The Case of Italian Exporters," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 57(3), pages 275-304.
    34. ITO Keiko & LECHEVALIER Se'bastien, 2010. "Why Do Some Firms Persistently Outperform Others? An investigation of the interactions between innovation and export strategies," Discussion papers 10037, Research Institute of Economy, Trade and Industry (RIETI).
    35. Sergio De Nardis, 2012. "L'aggiustamento misconosciuto," L'industria, Società editrice il Mulino, issue 1, pages 61-68.
    36. Ughetto, Elisa, 2006. "The financing of innovative activities by banking institutions: policy issues and regulatory options," MPRA Paper 430, University Library of Munich, Germany.
    37. cipollone piero & Anita Guelfi, 2006. "The value of flexible contracts; evidence from an italian panel of industrial firms," Temi di discussione (Economic working papers) 583, Bank of Italy, Economic Research and International Relations Area.
    38. S. Calligaris & M. Del Gatto & F. Hassan & G.I.P. Ottaviano & F. Schivardi, 2016. "Italy’s Productivity Conundrum. A Study on Resource Misallocation in Italy," European Economy - Discussion Papers 2015 - 030, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    39. Sergio de Nardis & Cristina Pensa, 2004. "How intense is Competition in International Markets of Traditional goods?," ISAE Working Papers 45, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
    40. Paolo Pini, 2014. "Il Jobs Act tra surrealismo e mistificazione. Ancora una riforma del lavoro. E' quello di cui abbiamo bisogno?," Working Papers 2014183, University of Ferrara, Department of Economics.
    41. Sara Calligaris, 2015. "Misallocation and Total Factor Productivity in Italy: Evidence from Firm-Level Data," CEIS Research Paper 357, Tor Vergata University, CEIS, revised 14 Oct 2015.
    42. Hiroaki Richard Watanabe, 2015. "Neoliberal reform for greater competitiveness: labour market deregulation in Japan and Italy," Industrial Relations Journal, Wiley Blackwell, vol. 46(1), pages 54-76, January.
    43. Paolo Epifani, 1999. "Sulle determinanti del modello di specializzazione internazionale dell'Italia," Politica economica, Società editrice il Mulino, issue 2, pages 195-224.
    44. Matteo Bugamelli & Francesca Lotti & Monica Amici & Emanuela Ciapanna & Fabrizio Colonna & Francesco D�Amuri & Silvia Giacomelli & Andrea Linarello & Francesco Manaresi & Giuliana Palumbo & Filippo , 2018. "Productivity growth in Italy: a tale of a slow-motion change," Questioni di Economia e Finanza (Occasional Papers) 422, Bank of Italy, Economic Research and International Relations Area.
    45. A. Arrighetti, 1999. "Integrazione verticale in Italia e in Europa: tendenze ed ipotesi interpretative," Economics Department Working Papers 1999-EP07, Department of Economics, Parma University (Italy).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Marco Bee & Julien Hambuckers, 2020. "Modeling multivariate operational losses via copula-based distributions with g-and-h marginals," DEM Working Papers 2020/3, Department of Economics and Management.
    2. Gnocato, Nicolò & Modena, Francesca & Tomasi, Chiara, 2020. "Labor market reforms and allocative efficiency in Italy," Labour Economics, Elsevier, vol. 67(C).
    3. Eleonora Bartoloni & Alessandro Arrighetti & Fabio Landini, 2021. "Recession and firm survival: is selection based on cleansing or skill accumulation?," Small Business Economics, Springer, vol. 57(4), pages 1893-1914, December.
    4. Murphy, Gavin & Siedschlag, Iulia & McQuinn, John, 2012. "Employment Protection and Innovation Intensity," Papers WP445, Economic and Social Research Institute (ESRI).
    5. Matteo Bugamelli & Francesca Lotti & Monica Amici & Emanuela Ciapanna & Fabrizio Colonna & Francesco D�Amuri & Silvia Giacomelli & Andrea Linarello & Francesco Manaresi & Giuliana Palumbo & Filippo , 2018. "Productivity growth in Italy: a tale of a slow-motion change," Questioni di Economia e Finanza (Occasional Papers) 422, Bank of Italy, Economic Research and International Relations Area.
    6. Sara Calligaris & Massimo Del Gatto & Fadi Hassan & Gianmarco I P Ottaviano & Fabiano Schivardi & Tommaso MonacelliManaging Editor, 2018. "The productivity puzzle and misallocation: an Italian perspective," Economic Policy, CEPR;CES;MSH, vol. 33(96), pages 635-684.
    7. Federico Munari & Maria Cristina Odasso & Laura Toschi, 2011. "Patent-backed Finance," Chapters, in: Federico Munari & Raffaele Oriani (ed.), The Economic Valuation of Patents, chapter 12, Edward Elgar Publishing.
    8. Cette, Gilbert & Fernald, John & Mojon, Benoît, 2016. "The pre-Great Recession slowdown in productivity," European Economic Review, Elsevier, vol. 88(C), pages 3-20.
    9. Elisa Gamberoni & Claire Giordano & Paloma Lopez-Garcia, 2016. "Capital and labour (mis)allocation in the euro area: Some stylized facts and determinants," Questioni di Economia e Finanza (Occasional Papers) 349, Bank of Italy, Economic Research and International Relations Area.
    10. Fabiano Schivardi & Tom Schmitz, 2020. "The IT Revolution and Southern Europe’s Two Lost Decades [Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries]," Journal of the European Economic Association, European Economic Association, vol. 18(5), pages 2441-2486.
    11. Bańbura, Marta & Albani, Maria & Ambrocio, Gene & Bursian, Dirk & Buss, Ginters & de Winter, Jasper & Gavura, Miroslav & Giordano, Claire & Júlio, Paulo & Le Roux, Julien & Lozej, Matija & Malthe-Thag, 2018. "Business investment in EU countries," Occasional Paper Series 215, European Central Bank.
    12. Valeria Cirillo & Marta Fana & Dario Guarascio, 2017. "Labour market reforms in Italy: evaluating the effects of the Jobs Act," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 34(2), pages 211-232, August.
    13. Calcagnini, Giorgio & Marin, Giovanni & Perugini, Francesco, 2021. "Labour flexibility, internal migration and productivity in Italian regions," Structural Change and Economic Dynamics, Elsevier, vol. 57(C), pages 308-320.
    14. Emanuele Brancati & Raffaele Brancati & Dario Guarascio & Andrea Maresca & Manuel Romagnoli & Antonello Zanfei, 2018. "Firm-level Drivers of Export Performance and External Competitiveness in Italy," European Economy - Discussion Papers 2015 - 087, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    15. Ferrari, Filippo, 2011. "Lo sviluppo delle competenze nei contesti precari [Skills development in precariousness: the dark side of flexibility?]," MPRA Paper 33284, University Library of Munich, Germany.
    16. A. Arrighetti & F. Landini & E. Bartoloni, 2018. "The sources of heterogeneity in firm performance: Lessons from Italy," Economics Department Working Papers 2018-EP02, Department of Economics, Parma University (Italy).
    17. Pierluigi Montalbano & Silvia Nenci, 2011. "Are the Emerging Economies a Threat to the Italian Competitiveness?," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 4, December.
    18. Alam, M. Jahangir, 2020. "Capital misallocation: Cyclicality and sources," Journal of Economic Dynamics and Control, Elsevier, vol. 112(C).
    19. Daniel A. Dias & Carlos Robalo Marques & Christine Richmond, 2020. "A Tale of Two Sectors: Why is Misallocation Higher in Services than in Manufacturing?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 66(2), pages 361-393, June.
    20. Ricotta, Fernanda & Mannarino, Lidia & Pupo, Valeria & Succurro, Marianna, 2008. "Export quality in the machinery sector: Some evidence from main competitors," MPRA Paper 12677, University Library of Munich, Germany.

    More about this item

    Keywords

    Firm Heterogeneity; Productivity; Profit; Misallocation; Capabilities; Institutions; Italy;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • 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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:par:dipeco:2018-ep01. 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: . General contact details of provider: https://edirc.repec.org/data/feparit.html .

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Andrea Lasagni (email available below). General contact details of provider: https://edirc.repec.org/data/feparit.html .

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.