Productivity growth in Italy: a tale of a slow-motion change
Matteo Bugamelli (),
Francesca Lotti (),
Monica Amici (),
Fabrizio Colonna (),
Francesco Dï¿½Amuri (),
Francesco Manaresi (),
Giuliana Palumbo (),
Filippo Scoccianti () and
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Matteo Bugamelli: Bank of Italy
Monica Amici: Bank of Italy
Fabrizio Colonna: Bank of Italy
Francesco Dï¿½Amuri: Bank of Italy
Francesco Manaresi: Bank of Italy
Giuliana Palumbo: Bank of Italy
Filippo Scoccianti: Bank of Italy
Authors registered in the RePEc Author Service: Francesco D'Amuri
No 422, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area
Productivity is the main factor holding back long-term economic growth in Italy. Since the second half of the 1990s, productivity growth has been feeble both by historical standards and compared with the other main euro area countries. Understanding the reasons for such a performance and finding the most effective policy levers is crucial to increase Italyï¿½s potential growth rate. Against this background, we provide a detailed analysis of the data and a critical review of the available empirical evidence to identify both the structural weaknesses limiting productivity growth and the strengths of the Italian productive system that may support it looking forward. Since the end of the 1990s and more intensively since the second half of 2011, the reform effort has been particularly effective in the regulation of product and labor markets and industrial policy. On other factors which are very relevant for productivity dynamics, the reform action has been less effective so far.
Keywords: productivity; growth; business dynamics; innovation; human capital; labor; finance; regulation; policies (search for similar items in EconPapers)
JEL-codes: D0 E0 F0 G0 H0 J08 K0 L0 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec, nep-eff, nep-fdg and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_422_18
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