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From economic decline to the current crisis in Italy

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  • Pasquale Tridico

Abstract

The objective of this paper is to show that the current global economic crisis, into which Italy also fell in 2008, represents just the last step of a long declining path for the Italian economy which began in the 1990s, or to be more precise in 1992 and 1993. It is argued that the reasons that explain the long Italian decline, and partly also the deeper recession today, as well as the lack of recovery from the current crisis, can be found in the past reforms of the labour market. In particular, the labour flexibility introduced in the last 15 years had, along with other policies introduced in parallel, cumulative negative consequences on the inequality, on the consumption, on the aggregate demand, on the labour productivity and on the GDP dynamics.

Suggested Citation

  • 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.
    • Handle: RePEc:taf:irapec:v:29:y:2015:i:2:p:164-193
    DOI: 10.1080/02692171.2014.983049
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    References listed on IDEAS

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    1. 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.
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    Cited by:

    1. Alberto Bagnai & Christian Alexander Mongeau Ospina, 2018. "Monetary integration vs. real disintegration: single currency and productivity divergence in the euro area," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 21(4), pages 353-367, October.
    2. Sebastiano Fadda, "undated". "Structural Change, Employment and Institutions," Working Papers 0033, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.
    3. Gaetano Perone, 2018. "Produttività del lavoro, dinamica salariale e squilibri commerciali nei Paesi dell'Eurozona: un'analisi empirica," Economia & lavoro, Carocci editore, issue 3, pages 61-98.
    4. Barbieri Góes, Maria Cristina, 2019. "Personal income distribution and progressive taxation in a neo-Kaleckian model: Insights from the Italian case," IPE Working Papers 126/2019, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    5. Michał Taracha & Krzysztof Mirowski, 2022. "Polityki rynku pracy i inne determinanty elastyczności zatrudnienia," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 88-104.

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