The sustainability of the Italian public finances: an overview
AbstractThe Italian international reputation in mainly related to the high level of its public debt. During the Great Recession, this fact, associated to the stagnation of productivity, raised serious doubts on its economic and financial sustainability. The doubts are legitimated also by the fact that Italy is a net borrower of capitals from abroad, as its Net International Investment Position (NIIP) is negative. The statistical analysis of the Italian public finances suggests how the deep causes of the Italian financial and economic fragility rest in the malfunctioning of the institutional (public and private) and economic framework. The Italian economy should manage its structural weaknesses: i) by maturing a long term view able to involve the capital stocks in the economic reasoning; ii) by enabling SME and citizens’ participation in all the economic activities; by empowering the third sector and more in general non profit activities in order to facilitate the formation of social capital.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 50113.
Date of creation: 10 Sep 2013
Date of revision:
Debt-GDP ratio; spending review; economic inclusion;
Find related papers by JEL classification:
- H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-25 (All new papers)
- NEP-LAM-2013-09-25 (Central & South America)
- NEP-LTV-2013-09-25 (Unemployment, Inequality & Poverty)
- NEP-MAC-2013-09-25 (Macroeconomics)
- NEP-NEU-2013-09-25 (Neuroeconomics)
- NEP-PUB-2013-09-25 (Public Finance)
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- repec:wbk:wboper:13332 is not listed on IDEAS
- International Finance Corporation & World Bank, 2013. "Doing Business 2013 : Smarter Regulations for Small and Medium-Size Enterprises," World Bank Publications, The World Bank, number 11857.
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