Italian FDI integration with Southeast Europe: country and firm-level evidence

Southeast European countries have experienced significant economic integration into the world economy since 2000, through international capital flows and especially foreign direct investment (FDI). The present work sheds light on recent trends in Italy-Western Balkans economic integration through FDI. The methodology is based on a country level analysis and on case studies, designed to ascertain Italian firms’ underlying motives for investment in the area. Evidence suggests that the phenomenon is broader than official statistics would indicate: Italian firms often set up subsidiaries without formal or direct capital control. As integration in the area is a recent phenomenon, it is not surprising that the main determinants of Italian investments are cost reductions and new market opportunities, typical of initial stages of penetration in a foreign country. What is interesting in this context is that local entrepreneurs regard efficiency-seeking investments as profitable only if they are connected to market-seeking goals. We find evidence also of localized industrial development stimulated by the entry of Italian firms which is activating subcontracting relationships with existing firms in the host region.Southeast Europe-Italy integration,case study,foreign direct investment

CHINESE INVESTMENTS IN ITALY: IS THE WAVE ARRIVING?

The paper focuses on the effects of the Go Global policy in Italy: main type of Chinese investments, their strategic motivations, as well as the role of ethnic network are analyzed. The phenomenon is still not significant in quantitative terms, but trends are impressive. Italy can provide an access to western markets and strategic logistic services, as well as to a wide array of distinctive skills/intangible assets in manufacturing industries. At the moment, there is a prevalence of greenfield initiatives, but acquisitions are rising sharply. In geographical terms, the locations chosen by Chinese investors favor areas that offer a wealth of distinctive skills (typically, but not only, district areas), but are not limited to industries in which Chinese ethnic groups are involve

THE INTERNATIONAL EXPANSION OF RUSSIAN ENTERPRISES. LOOKING AT ITALIAN TARGETS

Investment activity by Russian enterprises is a relatively recent phenomenon that is meeting with mounting interest among analysts and researchers, as has occurred for the other emerging economies. Brazil, Russia, India and China - the so-called "BRIC" nations - are affirming themselves at the international level for their ability to invest considerable resources in both developing countries and industrialized economies (Sauvant, 2005; 2008; Ramamurti R., Singh, 2009; Goldstein, 2009). For these nations, foreign direct investment (FDI)115 represents a fundamental means of achieving economic growth as well as political affirmation at the global level. FDI allows highly accelerated, and often unbalanced, growth processes to be adjusted at the national level. At the same time, individual enterprises, particularly through acquisitions, enjoy access to energy sources and commodities, advanced technologies, brands, skills, know-how and distribution channels to be used to expand and conquer new markets, including in the West (Sauvant, 2005; Spigarelli, 2009)

Italian economic diplomacy at work: catching up the BRICs

The paper is a preliminary attempt to analyze the recent effort of the Italian diplomacy to develop a coherent trade policy toward the most important emerging markets. It describes why in recent years Italy has substantially modified the way it trades policy approach, moving from a decentralized to a centralized decision-making approach, the results achieved up to now, and the lingering challenges.BRIC,FDI,Italian economic diplomacy,trade

The rising Chinese pharmaceutical industry: local champions vs global players

This paper is an exploratory study on main features and challenges of the Chinese pharmaceutical market. Dramatic changes in the market are due both to the Government policies, changing consumer habits and behaviour, and to the growing competition at firm level. From a demand side perspective, consumptions of pharmaceutical products are booming thanks to a combined effect of economic growth, aging population, urbanization and health system reforms. Key forces shaping the demand are examined in the chapter, with a specific attention to health care reforms as well as to new habits and confidence of Chinese people towards the Western medicine. In this regard, import and export trends, consumption, and expected evolution of the market are examined. From a supply side perspective, two main trends can be highlighted: the increasing interest of foreign investors, and the effort of Chinese pharmaceutical firms to compete in the national market. To better understand the ongoing changes we look at market characteristics, key players, as well as trends and motivation of inward FDI to China are examined. On the basis of this general picture, the paper focuses on IP related aspects, to understand who are the main actors of patenting trends (foreign vs local firms) and for which kind of products patents are registered (raw materials vs basic products vs drugs). Analyzing patent trends and the role of Chinese vs Western firms, we try to define how China is taking its role and position into the national and – potentially - international pharmaceutical market

Chinese FDI in the EU: learning from the renewable energy sector

Chinese foreign direct investments in the EU are helping to integrate the Chinese and EU renewable energy industries. This Perspective discusses recent trends, motivations, and location choice of Chinese investors in the EU, as well as policy implications in light of economic and technological challenges to the sector

The Third Mission of the university: A systematic literature review on potentials and constraints

In recent years, there has been increasing pressure on Universities to shift from focusing primarily on teaching and performing research, and to add an equivocal Third Mission (TM), labelled \u201ca contribution to society\u201d. Unprecedented challenges have been redesigning the missions of Universities, which are often perceived as being at a crossroads. The TM is a multidisciplinary, complex, evolving phenomenon linked to the social and economic mission of Universities in a broad sense. Existing studies mainly focus on Universities in accomplishing their traditional missions, or they offer a narrow perspective of the TM. To the best of our knowledge, no systematic literature review has been performed on the TM to comprehensively explore its heterogeneous functions, constraints, clashes and incorporation within education and research. This paper presents a systematic review of the state of knowledge and develops a novel framework for the enactment of the TM. The paper reveals the potential and the constraints of the recurring themes of the TM, focusing especially on the engagement of non-academic stakeholders. It also suggests, to scholars and policymakers, a selection of measures through which some of the challenges might be faced. The paper offers both a descriptive and a thematic analysis, through examination of 134 peer-reviewed articles which were published between 2004 and May 2019

Fostering Cross-Sector Collaboration to Promote Innovation in the Water Sector

Ongoing global climate change, growing population and the intensification of economic activities, increase pressure on water resources, a situation many see as a water governance crisis. Water-related issues are becoming a limiting factor for sustainable economic growth and require a collaborative and interdisciplinary approach, to foster innovative solutions. This paper provides an evidence-based contribution to understanding Triple Helix Model (THM) relations and the path to innovation policy in the water sector. The analysis focuses on the interaction between university\u2013industry\u2013government, with specific reference to the Murcia region in Southeast Spain. This region combines a chronic shortage of water and a leading role for agriculture. Starting from the experience of a researcher, working for the General Water Council of the Murcia Region, this paper is based on both desk research and in-depth personal interviews with representatives of THM actors. In addition, a questionnaire was forwarded to all those companies in charge of providing water services in the Murcia region. The study has found that stakeholders are not fully cooperative in seeking innovation. The main challenges are the renewal of water-related facilities and the improvement of remote control systems, denitrification and desalination technologies and achieving better energy efficiency. To this aim, THM approach is suggested as a source of local innovation policies, identifying a series of tools to foster a collaborative approach

Aging and IoT: Developing Innovative Solutions in a Quadruple Helix Approach

The paper investigates, through the use of a case study, how local firms can promote technological advancements in a very specific field, such as the one of ICT and IoT applied to the care of elderly people, benefiting from relationships with institutions, enterprises, universities and users in a Quadruple Helix Model. The firm selected, which is launching innovative solutions and systems of connected care and wellness, provides evidence on how technological improvement can flourish if a collaborative approach is followed