This paper analyzes the main drivers of external competitiveness in times of crisis for small and medium enterprises (SMEs). We focus on the Italian experience in the midst of the financial and sovereign-debt crisis, and present robust evidence based on a comprehensive survey of Italian...

In the aftermath of the crisis, Europe is becoming more polarised in terms of employment, competitiveness and industrial specialisation. A 'German-centred core' which maintained employment and production – has emerged, contrasted by a 'Southern periphery', where major economic losses have...