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The sustainability of the Italian public finances: an overview

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  • Salustri, Andrea

Abstract

The 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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  • Salustri, Andrea, 2013. "The sustainability of the Italian public finances: an overview," MPRA Paper 50113, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:50113
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    References listed on IDEAS

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    1. International Finance Corporation & World Bank, 2013. "Doing Business 2013 : Smarter Regulations for Small and Medium-Size Enterprises [Regulaciones inteligentes para las pequeñas y medianas empresas : resumen ejecutivo (Vol. 2)]," World Bank Publications - Books, The World Bank Group, number 11857, December.
    2. World Bank & International Finance Corporation, "undated". "Doing Business in Italy 2013 : Smarter Regulations for Small and Medium-Size Enterprises," World Bank Publications - Reports 13332, The World Bank Group.
    3. repec:wbk:wboper:13331 is not listed on IDEAS
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    More about this item

    Keywords

    Debt-GDP ratio; spending review; economic inclusion;
    All these keywords.

    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

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