A Policy Mix to Re-Launch Growth under Conditions of Structural Equilibrium in Public Finance

Mario Baldassarri and Pasquale Capretta

Chapter 9 in The World Economy Towards Global Disequilibrium, 2007, pp 289-294 from Palgrave Macmillan

Abstract: Abstract The negative economic cycle that developed between 2004 and 2005 brought Italy down to a rate of growth of just above zero at the end of 2005. In the absence of economic policies, the Italian economy is expected to recover at rather moderate rates of growth during the next three years 2006–2008 (1.5% a year) and a bit faster (1.6%) in 2009. Under these conditions, with no interventions, net borrowing will settle well above 3% of GDP during the whole period. Other projections that were made during the second half of 2005 by several economic research institutes show an even more modest recovery with growth at approximately 1% in 2006. Accordingly, the outlook for the public deficit and the consequent financial imbalance will even be worse.

Keywords: Current Account Deficit; Exchange Rate Policy; Current Surplus; Italian Economy; Interest Rate Differential (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59084-7_9

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DOI: 10.1057/9780230590847_9

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