Italy has been experiencing for the last three decades a long structural economic recession. Labor market reforms, austerity policies, wage moderation and real and financial market deregulations do not appear to have contributed to turn the declining tide of the Italian productive system, but to exacerbate a situation of poor productivity, investment and technology. In this essay we use "growth accounting" to measure the contribution of different factors to economic growth, and to isolate the determinants of the Italian slowdown. The resulting macroeconomic picture shows that the slowdown of Italian economy is of structural nature and affects both the non-ICT and ICT sectors.
Il declino dell’economia italiana: cambiamento strutturale o transizione ciclica?
GIOMBINI, GERMANA;TRAVAGLINI, GIUSEPPE;
2015
Abstract
Italy has been experiencing for the last three decades a long structural economic recession. Labor market reforms, austerity policies, wage moderation and real and financial market deregulations do not appear to have contributed to turn the declining tide of the Italian productive system, but to exacerbate a situation of poor productivity, investment and technology. In this essay we use "growth accounting" to measure the contribution of different factors to economic growth, and to isolate the determinants of the Italian slowdown. The resulting macroeconomic picture shows that the slowdown of Italian economy is of structural nature and affects both the non-ICT and ICT sectors.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
