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Italian Firms , Global M arkets

Italian Firms , Global M arkets. 22 May 2012 CCIAA Parma Fabio Sdogati fabio.sdogati@polimi.it. Table of Contents. 1. The Global Scenario. 1.1. The Great Recession. 1.2. Great Divergences. 2 .1. Productivity. 2 . Internationalization. 2 .2. Fragmentation of Production.

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Italian Firms , Global M arkets

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  1. ItalianFirms, Global Markets 22 May 2012 CCIAA Parma Fabio Sdogati fabio.sdogati@polimi.it
  2. Table of Contents 1. The Global Scenario 1.1. The Great Recession 1.2. Great Divergences 2.1. Productivity 2. Internationalization 2.2. Fragmentation of Production
  3. 1. The Global Scenario 1.1. The Great Recession Forecasts: 2012 real GDP growth UK Japan USA Sources: IMF, World Economic Outlook, April 2012
  4. 1. The Global Scenario 1.1. The Great Recession Forecasts: 2012 real GDP growth Russia Turkey China Mexico India Brazil Sources: IMF, World Economic Outlook, April 2012
  5. 1. The Global Scenario 1.2. Great Divergences Divergences between OECD and non-OECDcountries: Contribution to annualized real GDP OECD Non-OECD Sources: OECD, Economic Outlook No. 90, 28 November 2011 Note: Calculated using moving nominal GDP weights, PPP.
  6. 1. The Global Scenario 1.2. Great Divergences Divergences between OECD and non-OECD countries:Growth of emerging markets (GDP, 2001=100) Source: IMF, World Economic Outlook, accessed on May 2012
  7. 1. The Global Scenario 1.2. Great Divergences Divergences between Europe and the US: Unemployment (%) 10.8% 8.3% Source:Eurostat, accessed on May 2012
  8. 2. Internationalization 2.1. Productivity Ways out? Productivity Yet, from the Mediobanca–Unioncamere report: “La presenza delle medie imprese nei settori convenzionalmente definiti high techè marginale tanto a livello nazionale quanto nel Nord Est. Secondo la metodologia OCSE (basata sull’intensità delle spese di ricerca) l’alta tecnologia copre appena il 3,1% del fatturato.”
  9. 2. Internationalization 2.1. Productivity In Italy, high-technology (and productive) firms are very rare: Notes: VA = value added; CL = Cost of Labor Source: Mediobanca and Unioncamere, based on OCSE data
  10. 2. Internationalization 2.1. Productivity Labor productivity (output per hour, 2002=100) Source: US Bureau of Labor Statistics, accessed on May 2012
  11. 2. Internationalization 2.1. Productivity Value added by enterprisesizeclass, non-financial businesses, 2008 Source: Eurostat
  12. 2. Internationalization 2.1. Productivity Numberof personsemployed by enterprisesizeclass, non-financial, 2008 Source: Eurostat
  13. 2.Internationalization 2.1. Productivity Largerfirmsenjoyhigherproductivity: Source: Eurostat
  14. 2. Internationalization 2.1. Productivity Largerfirmsenjoyhigherproductivity: Source: Eurostat
  15. BOTH Mode 1: Global Resource Seeking AND Mode 2: Global Market Seeking 2. Internationalization 2.2. Fragmentation of Production Freer trade due to falling protectionist pressures Falling transport costs Falling coordination costs Globally integrated enterprise Slow growth and deindustrialization in high per capita income countries High growth of per capita income in emerging countries
  16. 2. Internationalization 2.2. Fragmentation of Production Share of intermediate goods in non-fuel merchandise trade, 2010. Source: UN Comtrade 2011.
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