Trends in Italy’s Nonprice Competitiveness

WPIEA2008124 Image
Price:  $18.00

Author/Editor: Bogdan Lissovolik
Release Date: © May, 2008
ISBN : 978-1-45186-984-2
Stock #: WPIEA2008124
English
Stock Status: Available

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Description

Italy's medium-term economic performance has raised "standard" competitiveness concerns as unit labor costs surged, and real export growth fell. But the recent economic upturn, low current account deficit, and robust nominal exports argue for less pessimism. An empirical analysis confirms the standard concerns, but also suggests that "residual" factors, which partly reflect nonprice economic restructuring, have supported Italy's real exports after 2005 (as in Germany but less so in France or Spain). An investigation of selected structural trends over the past decade offers some substantiation to Italy's "restructuring story," including quality upgrading, geographical trade diversification, and outsourcing. But sluggish services, low FDI, and modest "technological" upgrading indicate limits to Italy's restructuring.

Taxonomy

Balance of trade , Competition , Exports , International trade




More publications in this series: Working Papers


More publications by: Bogdan Lissovolik