Economic Survey of Italy 2005

 

Published on 18 May 2005

Executive summary

An Economic Survey is published every 1½-2 years for each OECD country. Read more about how Surveys are prepared

The OECD assessment and recommendations on the main economic challenges faced by Italy are available by clicking on each chapter heading below. Chapter 1 identifies the challenges for which the subsequent chapters provide in-depth analysis and policy recommendations.










 

 

 

Chapter 1. Economic performance and policy challenges
Labour market reforms have boosted employment. But output growth has been weak because of a sharp drop in total factor productivity growth, hence relatively high inflation and declining competitiveness. The public deficit and debt remain high as well.

Chapter 2. Fiscal reforms for credibility and growth
Fiscal sustainability will require raising the primary surplus back up to levels targeted in Italy’s Stability Programme. The needs of growth will at the same time require lower tax rates and higher spending on infrastructure and human capital.

Chapter 3. Corporate governance and market liberalisation: the scope for improvement
Households have been hurt by a series of bond defaults that have highlighted the urgency of improving bankruptcy procedures, corporate governance and financial market supervision. Network industries, professional services, retail trade and local public services require competition reforms.

Chapter 4. The economic impact of immigration
Italy has witnessed significant immigration inflows in the last decade. Most immigration has been illegal despite legislative changes, leading to quotas, though a series of regularisations has granted many immigrants legal status. The demand for immigrant workers is high in the North of Italy.

Chapter 5. Human capital and the labour market
Italy exhibits a significant human capital gap vis-à-vis the OECD average. The lack of a degree bears a high correlation with unemployment risk especially in the South, for women, and among older age cohorts. R&D activity is also low.

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A printer-friendly Policy Brief (pdf format) can also be downloaded. It contains the OECD assessment and recommendations, but not all of the charts included on the above pages. A press review is also available.

Una nota di sintesi stampabile (formato PDF) puó anche essere scaricata. Contiene le conclusioni e le raccomandazioni ma non tutti i grafici inclusi nelle pagine in alto.

To access the full version of the OECD Economic Survey of Italy:

  • Readers at subscribing institutions can go to SourceOECD, our online library.
  • Non-subscribers can purchase the PDF e-book and/or printed book at our Online Bookshop.
  • Government officials can go to  OLISnet's Publication Locator.
  • Accredited journalists can go to their password-protected website .

For further information please contact the Italy Desk at the OECD Economics Department at webmaster@oecd.org. The OECD Secretariat's report was prepared by Alexandra Bibbee, Flavio Padrini, Paul O'Brien, Sylvie Foucher-Hantala and Céline Baptista under the supervision of Nick Vanston.

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