European Parliament Library

Trends in Italy’s Nonprice Competitiveness, Bogdan Lissovolik

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
Table Of Contents
Contents; I. Introduction; II. Italy's Stylized Competitiveness Dilemma: Volumes Versus Values; A. Sluggish Export Volumes; Figures; 1. Large Euro Countries: Average Real Export Growth, 2001-06; 2. Unit Labor-Cost-Based REERs and Real Exports in Italy, France, Spain, and Germany; 3. Real Effective Exchange Rates Based on ULCs and CPI; B. Buoyant (Unit) Values; 4. Italy's Export Indicators; III. What "Standard" Trade Competitiveness Indicators Can (not) Explain?; A. Rationale; B. Data and Methodology; C. Results; Tables; 1. Determinants of Real Exports in Large Euro Area Countries
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (36 p.)
Specific Material Designation
Form Of Item

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