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The Italian firms between crisis and the new globalization

Accetturo, Antonio; Giunta, Anna; Rossi, Salvatore - Banca d'Italia - 2011

This paper analyzes the characteristics of Italian firms involved in global value chains (ï¿½intermediateï¿½ firms) by using the Bank of Italy survey on industrial companies. Intermediate firms show, on average, worse features than ï¿½finalï¿½ firms: smaller size, lower share of...

Persistent link: https://www.econbiz.de/10008835088

Evaluating the impact of innovation incentives: evidence from an unexpected shortage of funds

Blasio, Guido de; Fantino, Davide; Pellegrini, Guido - Banca d'Italia - 2011

To evaluate the effect of an R&D subsidy one needs to know what the subsidized firms would have done without the incentive. This paper studies an Italian programme of subsidies for the applied development of innovations, exploiting a discontinuity in programme financing due to an unexpected...

Persistent link: https://www.econbiz.de/10008865936

The innovation gap of Italyï¿½s production system: roots and possible solutions

Bugamelli, Matteo; Cannari, Luigi; Lotti, Francesca; … - Banca d'Italia - 2012

The lag in innovation in Italy vis-ï¿½-vis the other main industrial countries is one of the effects of the fragmentation of the production system into many small firms that have trouble bearing the high cost of R&D and taking the related risks. Such other causes as shortages in human capital...

Persistent link: https://www.econbiz.de/10011099601

Evaluating the efficacy of European regional funds for R&D

Fantino, Davide; Cannone, Giusy - Banca d'Italia - 2013

This paper provides some empirical evidence of the impact of two policy measures designed to support innovation in small and medium firms in an Italian region, both financed using the European Structural Funds but managed at regional level. The first measure was a concessional loan to promote...

Persistent link: https://www.econbiz.de/10011099632

Does issuing equities help R&D activity? Evidence from unlisted Italian high-tech manufacturing firms

Magri, Silvia - Banca d'Italia - 2014

This paper evaluates the causal effect of issuing equities on the probability that a firm will engage in R&D activity. Equity is a preferable source of external finance for innovation than debt. It does not require collateral, does not exacerbate moral hazard problems connected with the...

Persistent link: https://www.econbiz.de/10011099688

Outsourcing versus Integration at Home or Abroad

Federico, Stefano - Banca d'Italia - 2010

mode of organization (outsourcing versus integration) of intermediate inputs production. We find evidence of a productivity … productive and domestic outsourcing by the least productive firms; those with medium-high productivity choose domestic … integration, those with medium-low productivity foreign outsourcing. We also find that the preference for integration over …

Persistent link: https://www.econbiz.de/10008582225

Investire in Italia? Risultati di una recente indagine empirica

Committeri, Marco - Banca d'Italia - 2004

During the past decade all industrial countries attracted sizeable inflows of foreign direct investment (FDI), excluding Italy and Japan: this fact has been interpreted as evidencing a deterioration in Italyï¿½s structural competitiveness. This paper presents the results of a survey conducted...

Persistent link: https://www.econbiz.de/10005113582

Do firm-bank relationships affect firms' internationalization?

Bonis, Riccardo De; Ferri, Giovanni; Rotondi, Zeno - Banca d'Italia - 2014

The goal of this paper is to investigate the link between the length of a firm-bank relationship and firm's internationalization. The analysis is carried out on matched firm-bank micro-data from a survey of Italian enterprises from 1998 to 2003. We obtain two main results. First, a longer...

Persistent link: https://www.econbiz.de/10011105118

Trade openness and international fragmentation of production in the European Union: the new divide?

Guerrieri, Paolo; Caffarelli, Filippo Vergara - Banca d'Italia - 2012

This paper analyses the relationship between international fragmentation of production, trade openness and global export performance in the European Union from 2000 to 2009. As most trade models featuring international production sharing show, the higher the level of fragmentation and related...

Persistent link: https://www.econbiz.de/10009654296

Ingredients for the New Economy: How Much does finance matter?

Bugamelli, Matteo; Pagano, Patrizio; Francesco Paternï¿½ - Banca d'Italia - 2001

Both macro and (still scarce) micro evidence support the idea that a new economy is emerging in the US, not (yet) in Europe. Some have argued that the inadequacies of Europeï¿½s financial system are an important part of the explanation. This paper, after surveying the existing literature on...

Persistent link: https://www.econbiz.de/10005609355