IDEAS home Printed from https://ideas.repec.org/a/mul/je8794/doi10.1429-19576y2005i1p7-42.html
   My bibliography  Save this article

Quota dei profitti e redditività del capitale in Italia: un tentativo di interpretazione

Author

Listed:
  • Roberto Torrini

Abstract

Profit share in Italy has been growing between the mid '70s and the mid '90s, remaining stable at historically high levels since than. After the drop of the first half of the seventies, originated by an unprecedented rapid rise of wages, profit share started to recover. The rise of the '80s, that involved the entire business sector, was part of this recovery process. During the '90s, profit share continued to grow on average, but with large cross-sector differences. Profit share in manufacturing, more exposed to international competition, declined together with the returns on capital stock, but increased in the rest of the business sector. We show that the better performance of the non-manufacturing business sector is mainly due to those industries more affected by the large-scale privatisations and restructuring of State owned companies, started in the first half of the '90s. They granted a rapid growth of total factor productivity and a deceleration of wage dynamics, without a major impact on market power of privatised companies. Our evidence is thus supportive of the hypothesis that profit share growth during the '90s, observed also in other countries, was mainly due to rents redistribution, instead of to biased technological change.

Suggested Citation

  • Roberto Torrini, 2005. "Quota dei profitti e redditività del capitale in Italia: un tentativo di interpretazione," Politica economica, Società editrice il Mulino, issue 1, pages 7-42.
    • Handle: RePEc:mul:je8794:doi:10.1429/19576:y:2005:i:1:p:7-42
    as

    Download full text from publisher

    File URL: https://www.rivisteweb.it/download/article/10.1429/19576
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.rivisteweb.it/doi/10.1429/19576
    Download Restriction: no
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alfonso Rosolia & Roberto Torrini, 2007. "The generation gap: relative earnings of young and old workers in Italy," Temi di discussione (Economic working papers) 639, Bank of Italy, Economic Research and International Relations Area.
    2. Pasquale Tridico, 2012. "Italy from economic decline to the current crisis," Working Papers 0005, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.
    3. Francesco Daveri & Cecilia Jona-Lasinio, 2005. "Italy's Decline: Getting the Facts Right," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 64(4), pages 365-410, December.
    4. Pasquale Tridico, 2015. "From economic decline to the current crisis in Italy," International Review of Applied Economics, Taylor & Francis Journals, vol. 29(2), pages 164-193, March.
    5. Lorenzo Codogno & Francesco Felici, "undated". "Assessing Italy's Reform Challenges:What Do Growth Accounting and Structural Indicators Say?," Working Papers 8, Department of the Treasury, Ministry of the Economy and of Finance.
    6. Sergio De Nardis & Francesca Parente, 2022. "Technology and task changes in the major EU countries," Contemporary Economic Policy, Western Economic Association International, vol. 40(2), pages 391-413, April.
    7. Alessandro Zeli & Paolo Mariani, 2009. "Productivity and profitability analysis of large Italian companies: 1998–2002," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 56(2), pages 175-188, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mul:je8794:doi:10.1429/19576:y:2005:i:1:p:7-42. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://www.rivisteweb.it/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.