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Differenziali di crescita e di produttività: l'interazione tra fattori di domanda ed offerta nel caso italiano

Author

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  • Paolo Piacentini
  • Stefano Prezioso

Abstract

The disappointing growth performance of the Italian economy in the more recent period is analysed here with a stress on the medium-term evolution in the relationship between capital per worker and output per worker for the aggregate business sector of the economy. A drop in the elasticity of value added per worker with respect to capital per worker emerges, from graphical evidence and regression exercises. The Italian case is compared with more favourable performances of other countries. A simple model of interaction between supply side and demand side parameters, is proposed for an attempt at an interpretation of the relevant factors behind this experience. The Italian economy appears in fact to have suffered a negative productivity shock since the 1980's; permissive conditions on the demand side appear to have counterbalanced its impact on overall growth until early 1990's. In the more recent years, the conditions for stability within the EMU have no longer allowed such compensation, and the competitive and structural weaknesses of the Italian productive system have revealed their full impact.

Suggested Citation

  • Paolo Piacentini & Stefano Prezioso, 2007. "Differenziali di crescita e di produttività: l'interazione tra fattori di domanda ed offerta nel caso italiano," Rivista italiana degli economisti, Società editrice il Mulino, issue 1, pages 3-42.
    • Handle: RePEc:mul:jqat1f:doi:10.1427/26272:y:2007:i:1:p:3-42
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    Citations

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    Cited by:

    1. Destefanis, Sergio, 2012. "Alcune considerazioni sul mercato del lavoro italiano alla luce della ricostruzione delle serie storiche territoriali per il mercato del lavoro, 1861-2011 [Some Considerations on the Italian Labour," MPRA Paper 59611, University Library of Munich, Germany.
    2. Ferdinando Ofria, 2012. "Twelve Years on from the Adoption of the Emu: An Ex-Post Assessment on the Process of Convergence of Southern and Central-Northern Italy," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(Special 1), pages 326-339, May.
    3. Ferdinando Ofria, 2009. "L'approccio Kaldor-Verdoorn: una verifica empirica per il Centro-Nord e il Mezzogiorno d'Italia (anni 1951-2006)," Rivista di Politica Economica, SIPI Spa, issue 1, pages 179-207, January-M.
    4. M. Centorrino & F. Ofria & D. Farinella, 2010. "Convergence and divergence processes between the Mezzogiorno and the Centre- North ten years after the adoption of the EMU," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 3, pages 453-486.

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