From economic decline to the current crisis in Italy

Pasquale Tridico

International Review of Applied Economics, 2015, vol. 29, issue 2, 164-193

Abstract: The objective of this paper is to show that the current global economic crisis, into which Italy also fell in 2008, represents just the last step of a long declining path for the Italian economy which began in the 1990s, or to be more precise in 1992 and 1993. It is argued that the reasons that explain the long Italian decline, and partly also the deeper recession today, as well as the lack of recovery from the current crisis, can be found in the past reforms of the labour market. In particular, the labour flexibility introduced in the last 15 years had, along with other policies introduced in parallel, cumulative negative consequences on the inequality, on the consumption, on the aggregate demand, on the labour productivity and on the GDP dynamics.

Date: 2015
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DOI: 10.1080/02692171.2014.983049

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