Italy: The Sheltered Economy

Structural Problems in the Italian Economy

By: Fiorella Padoa Schioppa Kostoris

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Hardcover | 1 August 1993

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Hardcover
276 Pages

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21.59 x 13.97 x 1.91

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Italy has a huge and interventionist governmental economic policy: the general government spends over 50% of the Gross Domestic Product. Professor Padoa Schioppa Kostoris argues that much of this public action and regulation is irrational and counter-efficient. For example, the author analyses the role of taxes and subsidies, and concludes that these are accorded without any regard to their implications; illustrates that national wage equalization fails to allow the South to compete for industry on the grounds of lower labour costs; argues that private capital investment is often 'crowded out' by public money, and reveals inefficiencies in the provision of public services.
Professor Padoa Schioppa Kostoris then argues that the Italian economy is also characterised by a large and efficient 'black market', and that much of the private sector already evades the command and control imposed by the state. Since de facto deregulation therefore exists to a large extent in the Italian economy, the author calls for legal deregulation and privatisation. She argues that a decrease in and an altered character of public action will enable the Italian economy to achieve higher rates of growth, and to reconcile the goals of efficiency and public interest.

Industry Reviews

`Excellent translation! A must for specialists of the Italian economy, but also recommended to economists (graduate level and beyond) concerned with government's role and impact in a market economy.' Social & Behavioural Sciences 'a special monograph ... The book is actually the synopsis of a very wide research project developed in Italy by a large number of economists coordinated by the author ... it will be very helpful, both for students of applied economics and for scholars interested in understanding how the Italian economy has been steered during the last 20 years of the 'first republic'.' Paolo Onofri, University of Bologna, Economica, Vol. 61, No. 244, November 1994

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Non-Fiction Earth Sciences, Geography, Environment, Planning Geography Human Geography Economic Geography Politics & Government Economics Macroeconomics Accounting & Finance Finance Public Accounting in Finance Development Economics & Emerging Economies

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List of Figures
List of Tables
Introduction	p. 1
The Scale of Public Intervention in the Economy
Direct and Indirect Action by General Government and Public Corporations	p. 19
The Classical Reasons for Market Failures
Free-Riding and Private versus Social Cost Benefits	p. 37
Contestable Markets and Government Failures	p. 43
Competition for the Market and Regulated Private Enterprises	p. 49
Utility Charges and the Quality of Public Services	p. 54
The Modern Reasons for Market Failures
Imperfect Information, Market Incompleteness, and Strategic Intervention	p. 69
Strategic Intervention in Aggregate Supply
Direct Public Investment and Public Support for the Disposable Income of Households	p. 75
Subsidies for Enterprises and Dirigistic Regulation	p. 91
General Instruments of Industrial Policy	p. 115
Discretionary Instruments of Industrial Policy	p. 121
Strategic Intervention in Productive Inputs
Public Employment, Unemployment Benefits, and Dirigistic Regulation of the Labour Market	p. 129
Incentives and Disincentives for Private-Sector Employment	p. 141
Classical-Keynesian Unemployment and Incomes Policy	p. 147
Real and Financial Aspects of Private Investment	p. 156
The Effects of Financial Subsidies and Tax Concessions on Private Investment	p. 163
Strategic Intervention in Aggregate Demand
General Characteristics of the Welfare State	p. 169
State Pensions, Education, and Health Care	p. 175
'Political' Prices	p. 188
Direct Taxation	p. 196
Tax Structure and Proposals for Tax Reform	p. 208
The Budget Deficit and the Public Debt	p. 217
Is there an Italian 'Economic Miracle'? Concluding Remarks	p. 225
Postscript	p. 233
Bibliography	p. 235
Author Index	p. 251
Subject Index	p. 254
Table of Contents provided by Blackwell. All Rights Reserved.

Italy: The Sheltered Economy

Structural Problems in the Italian Economy

At a Glance

Hardcover

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

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