La crescita dell'economia italiana negli anni novanta tra ritardo tecnologico e rallentamento della produttivitÃ

Antonio Bassanetti (), Massimiliano Iommi (), Cecilia Jona-Lasinio () and Francesco Zollino ()
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Antonio Bassanetti: Bank of Italy
Massimiliano Iommi: Istat
Francesco Zollino: Bank of Italy

No 539, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research Department

Abstract: The paper presents a growth accounting exercise for the Italian economy over the last twenty years to assess the role of primary inputs and total factor productivity. The exercise was run at both the aggregate and the disaggregated level. For the first time in Italy it used a measure of capital services, disaggregated into several different components. Special attention was paid to the accumulation of ICT capital goods. A productive capital stock database was prepared, disaggregated by asset and sector, and the respective user costs, adjusted for fiscal factors, were calculated. In the period 1981-2001 total factor productivity contributed for less than one fourth to the Italian economic growth, and in the second half of the nineties TFP decelerated significantly. The largest contribution to economic activity was made by capital formation and specifically by assets not directly linked to new technologies, whose contribution was very small. The service sector, in particular transport and communications and financial intermediation, contributed most to the growth of TFP. In financial intermediation sector the role played by ICT capital was very substantial.

Keywords: contabilità della crescita; costo d'uso; produttività totale dei fattori; tecnologie della comunicazione e informazione (search for similar items in EconPapers)
JEL-codes: O47 I20 J24 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eff
Date: 2004-12
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