The three years 2001–03 opened in an atmosphere of optimism with the expectation of a new Italian miracle but ended amid widespread disillusion owing to persistent signs of economic decline. This article offers a reconstruction of events in this period, focusing on government economic policy and changes in the labour market. Analysis of these reveals the period to have been characterized by three significant features. In the first place, a growing loss of credibility and authority of government economic policy itself, resulting from the gap between expectations and outcomes. Second, the persistence of a model of development based on low product competitiveness and low-skilled labour. And last, the excessive attention paid to resolving the issues of the moment contrasted with a lack of interest in the future, and consequently in research, innovation, training and infrastructure.
The italian economy 2001-2003
CAPRIATI, Michele
2005-01-01
Abstract
The three years 2001–03 opened in an atmosphere of optimism with the expectation of a new Italian miracle but ended amid widespread disillusion owing to persistent signs of economic decline. This article offers a reconstruction of events in this period, focusing on government economic policy and changes in the labour market. Analysis of these reveals the period to have been characterized by three significant features. In the first place, a growing loss of credibility and authority of government economic policy itself, resulting from the gap between expectations and outcomes. Second, the persistence of a model of development based on low product competitiveness and low-skilled labour. And last, the excessive attention paid to resolving the issues of the moment contrasted with a lack of interest in the future, and consequently in research, innovation, training and infrastructure.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
