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Protocollo di Luglio e crescita economica: l’occasione perduta

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Author Info

  • Leonello TRONTI

    (Servizio Statistiche Congiunturali sull'Occupazione e i Redditi ISTAT, Roma)

Abstract

The paper aims at explaining the ineffectiveness of the tripartite social pact of July 1993 (the so-called July Protocol) in fostering growth, further to curbing inflation and favouring employment. In the light of labour productivity dynamics, wage moderation after 1993 appears as a significant wage deflation. In an economy with relevant segments sheltered from international competitiveness, privatisations and wage deflation have combined in favouring rent accumulation; so that, unexpectedly, wage moderation has combined with a sensible competitive loss and with slow growth. Changes in the fundamental relationships among growth, profits, investment and employment show deterioration in the quality of new jobs and an employment-productivity tradeoff, which are discussed with refer- ence to innovation, workplace re-organisation and relational goods accumulation. Within the industrial relations system, major shortcomings can be traced to the poor engagement of social partners in preserving the credibility of the Pact. The concluding recommendations aim at resolving the incompleteness of the Protocol, and helping the Italian economy to enter the «high road» to competitiveness.

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File URL: http://riss.vitaepensiero.it/scheda-articolo_digital/leonello-tronti/protocollo-di-luglio-e-crescita-economica-loccasione-perduta-000518_2005_0002_0205-150821.html
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Bibliographic Info

Article provided by Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore in its journal Rivista Internazionale di Scienze Sociali.

Volume (Year): 113 (2005)
Issue (Month): 2 ()
Pages: 345-370

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Handle: RePEc:vep:journl:y:2005:v:113:i:2:p:345-370

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Related research

Keywords: growth; labour share; incomes policy; social pacts; wage deflation; rents; labour market reform; product market reform.;

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Cited by:
  1. Pasquale Tridico, 2012. "Italy from economic decline to the current crisis," Working Papers 0005, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.

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