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The Italian firms between crisis and the new globalization

Author

Listed:
  • Antonio Accetturo

    (Banca d'Italia)

  • Anna Giunta

    (University of Rome - Roma tre)

  • Salvatore Rossi

    (Banca d'Italia)

Abstract

This paper analyzes the characteristics of Italian firms involved in global value chains (�intermediate� firms) by using the Bank of Italy survey on industrial companies. Intermediate firms show, on average, worse features than �final� firms: smaller size, lower share of white collars, lower productivity and export propensity. However we observe a strong heterogeneity, depending on the ability (and modalities) to upgrade along the value chains. There are wide differences between upgrading and non-upgrading (marginal) intermediate firms in terms of size, efficiency, human capital endowment and international competitiveness. During the 2008-09 crisis, marginal intermediate firms performed definitely worse; moreover, facing a collapse in world trade, firms that were upgrading by expanding their international linkages were more severely hit than those that were differentiating their internal functions.

Suggested Citation

  • Antonio Accetturo & Anna Giunta & Salvatore Rossi, 2011. "The Italian firms between crisis and the new globalization," Questioni di Economia e Finanza (Occasional Papers) 86, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_86_11
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    References listed on IDEAS

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    Cited by:

    1. Alessandro Arrighetti & Fabio Landini & Andrea Lasagni, 2021. "Swimming upstream throughout the turmoil: Evidence on firm growth during the great recession," Scottish Journal of Political Economy, Scottish Economic Society, vol. 68(3), pages 322-344, July.
    2. Marco Alderighi & Alberto A. Gaggero, 2012. "Air Accessibility and Export Capability of the Italian Manufacturing Industry," L'industria, Società editrice il Mulino, issue 4, pages 635-662.
    3. Nenci, Silvia & Fusacchia, Ilaria & Giunta, Anna & Montalbano, Pierluigi & Pietrobelli, Carlo, 2022. "Mapping global value chain participation and positioning in agriculture and food: stylised facts, empirical evidence and critical issues," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 11(2), July.
    4. Giorgio Albareto & Paolo Finaldi Russo, 2012. "Financial fragility and growth prospects: credit rationing during the crisis," Questioni di Economia e Finanza (Occasional Papers) 127, Bank of Italy, Economic Research and International Relations Area.
    5. Giovannetti, Giorgia & Marvasi, Enrico, 2016. "Food exporters in global value chains: Evidence from Italy," Food Policy, Elsevier, vol. 59(C), pages 110-125.
    6. Luigi Cannari, 2011. "Networks of Firms and Local Territory: A Comment," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 4, December.
    7. Enrico Beretta & Silvia Del Prete, 2013. "Banking consolidation and bank-firm credit relationships: the role of geographical features and relationship characteristics," Temi di discussione (Economic working papers) 901, Bank of Italy, Economic Research and International Relations Area.
    8. Emanuele Brancati & Raffaele Brancati & Andrea Maresca, 2017. "Global value chains, innovation and performance: firm-level evidence from the Great Recession," Journal of Economic Geography, Oxford University Press, vol. 17(5), pages 1039-1073.
    9. Giorgia Giovannetti & Enrico Marvasi & Marco Sanfilippo, 2015. "Supply chains and the internationalization of small firms," Small Business Economics, Springer, vol. 44(4), pages 845-865, April.
    10. Valter Di Giacinto & Andrea Sechi & Alessandro Tosoni, 2022. "The performance of Italian Industrial Districts in and out of the 2008-2012 crisis," Questioni di Economia e Finanza (Occasional Papers) 701, Bank of Italy, Economic Research and International Relations Area.
    11. Giorgia Giovannetti & Enrico Marvasi & Marco Sanfilippo, 2013. "Supply Chains and the Internalization of SMEs: Evidence from Italy," Working Papers - Economics wp2013_30.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    12. Raoul Minetti & Pierluigi Murro & Zeno Rotondi & Susan Chun Zhu, 2019. "Financial Constraints, Firms’ Supply Chains, and Internationalization," Journal of the European Economic Association, European Economic Association, vol. 17(2), pages 327-375.

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    More about this item

    Keywords

    fragmentation; offshoring; upgrading;
    All these keywords.

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures

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