Productivity Growth in Italy: A Tale of a Slow-Motion Change

Bugamelli, Matteo; Lotti, Francesca; Amici, Monica; Ciapanna, Emanuela; Colonna, Fabrizio; D’Amuri, Francesco; Giacomelli, Silvia; Linarello, Andrea; Manaresi, Francesco; Palumbo, Giuliana; Scoccianti, Filippo; Sette, Enrico

doi:10.2139/ssrn.3128850

Cited by 92 publications

(44 citation statements)

References 182 publications

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“…Although investigating why Italy and Spain are less inclined than others to adopt modern managerial practices goes beyond the scope of this paper. However, some reasons may be related to the massive weight of family firms in these two countries (Bloom et al 2008;Bugamelli and Lotti 2018). Indeed, family-owned firms tend to select managers by considering the closeness and fidelity to the ownership rather than the merit and the sector specific skills required to managers for comparing the growth opportunities of any innovative strategy (Bandiera et al 2008;Bloom and Van Reenen 2007;Pellegrino and Zingales 2017).…”

Section: Resultsmentioning

confidence: 99%

New evidence on the firm-university linkages in Europe. The role of meritocratic management practices

Aiello

Cardamone

Pupo

2019

International Review of Applied Economics

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This paper investigates the determinants of university-industry links in five European countries (France, Germany, Italy, Spain and the UK), using internationally comparable firm-level data for the period 2007-2009. Besides the usual firm-specific variables, it examines the role of meritocratic management practices in firms' decisions to collaborate in R&D. Firm innovative efforts, the export status and the R&D government support are positively related to business-university links in almost all countries, human capital and firms' size in two out of five countries under scrutiny, while belonging to science-based sectors does not seem to play a significant role. Importantly, we find that meritocratic managerial practices positively affect the firmuniversity nexus in Germany, France and UK, while meritocracy does not appear to enhance businesses' R&D collaboration in Italy and in Spain.

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Section: Resultsmentioning

confidence: 99%

New evidence on the firm-university linkages in Europe. The role of meritocratic management practices

Aiello

Cardamone

Pupo

2019

International Review of Applied Economics

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“…The literature provides several different explanations to the Italian productivity slowdown. [30] As convincingly underlined by Bugamelli et al, [30] to explain the Italian productivity "puzzle" it is necessary to consider all the alternative explanations/determinants that are "internal" (i.e. lack of innovation, skills mismatch of human capital, misallocation of talents and old age of managers) and "external" (i.e.…”

Section: Human Capital and Technological Changes As Potential Linkagementioning

confidence: 99%

Five evidences on labour productivity and inequality association in Italy

Santis

Ferroni

2020

Soc Work Soc Welf

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In the past two decades, Italy experienced a deceleration in labour productivity growth accompanied by persistently high income inequality. In this paper, we analyze five main empirical evidences for Italy indicating possible common determinants and linkages between productivity growth and income inequality in the period 1995-2018. To the best of our knowledge, the literature investigating this relationship for Italy is still very scarce. According to our preliminary exploration, the association between Italian productivity growth and income inequality between 1995 and 2018 has been mostly negative. This evidence suggests that the gloomy dynamics of productivity might have been an obstacle to income inequality reduction. There is also the possibility, however, that income inequality itself was among the causes of the gloomy productivity growth.

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“…Data available at https://dati.istat.it (access October 2017). Bugamelli and Lotti (2017) highlights the importance of frictions in labor, capital, and output markets in preventing Italian firms from e ectively responding to the competitive pressures of increasingly globalized markets, and benefit from the opportunities o ered by technological innovation and EU integration. simplification of firms' production function.…”

Section: Aggregate Implications: Misallocation Tfp and Lost Outputmentioning

confidence: 99%

Do Marginal Products Differ from User Costs? Micro-Level Evidence from Italian Firms

Lenzu,

Manaresi

2018

SSRN Journal

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Using micro-data on firm-specific borrowing costs and wages, we demonstrate that distortions in firms' employment and investment policies can be empirically measured using firm-level gaps between marginal revenue products and user costs (MRP-cost gaps). We estimate MRP-cost gaps for 4 million firm-year observations in Italy between 1997 and 2013, showing that the variation in these measures is closely related to the extent of credit market frictions and to the degree of labor market rigidities individual firms face.Using the estimated MRP-cost gaps, we propose a reallocation algorithm that helps us assess the scope of capital and labor misallocation in Italy, and its impact on aggregate output and total factor productivity (TFP). We calculate that, holding constant the aggregate capital and labor endowments in the economy, the Italian corporate sector could produce between 3% to 4% more output by reallocating resources from over-endowed producers toward higher-value users. The output losses from misallocation are larger during episodes of macro-financial instability, in non-manufacturing industries, and in geographical regions with less developed socio-economic institutions.

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Productivity Growth in Italy: A Tale of a Slow-Motion Change

Cited by 92 publications

References 182 publications

New evidence on the firm-university linkages in Europe. The role of meritocratic management practices

New evidence on the firm-university linkages in Europe. The role of meritocratic management practices

Five evidences on labour productivity and inequality association in Italy

Do Marginal Products Differ from User Costs? Micro-Level Evidence from Italian Firms

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