Competition and regulation in Italy

Magda Bianco (magda.bianco@bancaditalia.it), Silvia Giacomelli and Giacomo Rodano
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Magda Bianco: Banca d'Italia

No 123, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: Insufficient competition remains a major obstacle to growth in Italy. The main culprits include the institutional environment and the regulations governing some economic sectors subject to market failures. As to the former, relative neglect of economic efficiency has produced an unstable and inconsistent regulatory framework, excessive administrative burdens, and an inefficient system of contract enforcement. Past attempts to reform this area have yielded poor results. As to the latter, regulation was satisfactory only in some sectors. The excessive number of activities in which some operators enjoyed exclusive rights to provide services and restrictive regulation hindered competition in professional services. Growing awareness of the importance of competition policies to foster growth has given new impetus to the implementation of a wide programme of liberalization and institutional reform.

Keywords: competition; regulation; antitrust; institutions. (search for similar items in EconPapers)
JEL-codes: K2 K3 (search for similar items in EconPapers)
Date: 2012-05
New Economics Papers: this item is included in nep-com and nep-ind
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