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Autori: Cristina Pensa, Livio Romano, Fabrizio Traù
The paper analyses the role played by external and internal demand in the process of development of both industrial and emerging countries. It is argued that the logic of the industrialisation process in the course of the Globalisation Age – linking together the North and the South of the world on productive grounds – has been hinging upon quite exceptional conditions, and that the gradual vanishing of such conditions asks for a rethinking of that logic. In particular, the point is raised that an overall shift towards a wider role of internal demand is required for both groups of countries, which gives rising importance to the size of individual economic systems and to their capability to implement active economic (industrial) policies.
JEL Classification: F02, F13, F15, O14, O19
Keywords: Globalisation Age; Multilateralism; Regionalism; Internal Demand; Industrial Development; International Trade; Trade Networks.
The paper analyses world industrial development in the course of the Globalisation Age.
The article studies patterns of diversification of products and accumulation of competences both at firm and province level (NUTS 3) in Italy.
Italian manufacturing ranks seventh in the world for value added, fourth for production diversification and second for export competitiveness, and also has a higher investment rate than its main European competitors, including Germany. Yet it is widely believed that the country has long been affected by a serious lack of competitiveness
A sizeable part of the Italian manufacturing system has engaged in the last decades to upgrade the quality of its productions in response to cost competition from emerging industrial economies.
