The Internationalization of Network Industries: A Comparative Policy Analysis of Italian Railways and Utilities

Abstract: Internationalization constitutes a dominant strategy for former public enterprises, as they enter emerging markets in other countries. This article provides a firm-level analysis of the drivers of (and obstacles to) internationalization. It focuses primarily on the experience of Italian companies in the railway and utility sectors by comparing and contrasting them with major European companies as well as among themselves. The article shows the diverse degrees of internationalization of Italian companies and takes into account possible explanations, showing how the policy and regulatory environment do interact with the configurations of actors’ preferences in shaping companies’ strategies.