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Entrepreneurship, Firm Size and the Structure of the Italian Economy

Author

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  • Pellegrino Manfra

    (City University of New York)

Abstract

Since World War II, Italy's economic growth has been one of the highest in the world. The objective of this study is to examine the structure of the Italian economy and causes of this growth. It was found that small and medium-sized firms, most of them family-owned, have been the dynamic force behind the country?s extraordinary economic performance. The vital role of the family and that of the entrepreneur – as the supreme spirit of enterprise and initiative - has been paramount in this process. Production by small and medium-sized firms have concentrated in a specific geographical area called “industrial districts†and are capable of great cooperation with other firms, leading to increased production, efficiency and employment. In addition, it was found that small Italian firms have been very successful in the age of globalization, better able to take advantage of their small size by means of flexible strategies to innovate, invest and increase their export. Contrary to conventional wisdom, modernization theories (so widespread in the 1950s and 1960s) indicate that large firms have been models for growth in other industrialized countries and have exerted a passive role in the structure and development of the Italian economy.

Suggested Citation

  • Pellegrino Manfra, 2002. "Entrepreneurship, Firm Size and the Structure of the Italian Economy," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 7(3), pages 99-111, Fall.
    • Handle: RePEc:pep:journl:v:7:y:2002:i:3:p:99-111
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    References listed on IDEAS

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    1. Cohen, Wesley M. & Levin, Richard C., 1989. "Empirical studies of innovation and market structure," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 18, pages 1059-1107, Elsevier.
    2. Marshall, Alfred, 1920. "Industry and Trade," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 3, number marshall1920.
    3. David B. Audretsch, 1995. "Innovation and Industry Evolution," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011468, April.
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    Cited by:

    1. Clemente Pignatti Morano, 2014. "The determinants of overeducation: Evidence from the Italian labour market," Investigaciones de Economía de la Educación volume 9, in: Adela García Aracil & Isabel Neira Gómez (ed.), Investigaciones de Economía de la Educación 9, edition 1, volume 9, chapter 35, pages 681-698, Asociación de Economía de la Educación.
    2. Matthew Melchiorre & Emilio Rocca, 2013. "The Unintended Consequences of Italy's Labour Laws: How Extensive Labour Regulation Distorts the Italian Economy," Economic Affairs, Wiley Blackwell, vol. 33(2), pages 156-173, June.
    3. Gabriele Ruiu & Maria Laura Ruiu, 2019. "The Complex Relationship Between Education and Happiness: The Case of Highly Educated Individuals in Italy," Journal of Happiness Studies, Springer, vol. 20(8), pages 2631-2653, December.

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    More about this item

    Keywords

    Firm Size; Firm Structure; Entrepreneurship; Italy;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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