The Heterogeneous Performance of Firms in the Face of Globalisation and the Economic Crisis

The paper provides a measure of the performance differentials among Italian manufacturing firms, viewed in the light of the marked changes brought about by globalisation and the more recent economic crisis. On the basis of an original data- set it is shown that the profitability registered by firms has fallen since the early years of the new century, and more recently has dropped yet further. Moreover, structural differences characterise the behaviour of firms according to their growth pattern: on average, upsizers appear more vertically integrated, more profitable and show remarkable growth in exports.