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Local development, urban economies and aggregate growth

Antonio Accetturo, Andrea Lamorgese (andrea.lamorgese@bancaditalia.it), Sauro Mocetti and Paolo Sestito

No 490, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: The paper provides an overview of the results of a recent research project by the Bank of Italy on �Local development, urban economies and aggregate growth�. The paper documents the interplay between historical origins, congestion costs, and agglomeration benefits in shaping the Italian urban system. It shows that urban agglomeration externalities (on wages, productivity, or innovation) tend to be smaller in Italy than in other developed countries; it also shows that the costs of congestion are relatively high and that housing costs discourage mobility. These features might have negative consequences on the country�s ability to grow.

Keywords: economic growth; agglomeration; congestion costs; urban premium (search for similar items in EconPapers)
JEL-codes: O10 R10 R30 (search for similar items in EconPapers)
Date: 2019-04
New Economics Papers: this item is included in nep-geo and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (9)

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