Marche's economy, which perspectives for the future?

Abstract

Marche is one of the most industrialized regions in Italy. Entrepreneurial activity is mainly characterized by small family businesses. Due to a production model centered on districts and traditional manufacturing, the region has suffered more than other Italian regions from the successive crises of the last decades. The current Covid-19 crisis has ultimately exacerbated existing structural weaknesses. In the coming years, the Marche region must be able to enhance the distinctive features of its production system, overcoming the structural criticalities related to the size of the companies, the capacity for innovation and the ability to penetrate international markets. For this to be possible, the goals of its Smart Specialization Strategy (S3) must be achieved. This article examines changes in the local manufacturing system over the past three decades. The focus is on the manufacturing sector, given its weight on the regional economy in terms of employment and its strategic importance for S3. The objective is to analyze the impact of recent events on the most important sectors of the Marche economy and contribute to the formulation of proposals and suggestions useful to public decision-makers.

Keywords

• Regional economy
• Labor market dynamics
• Manufacturing