Abstract:This paper attempts an interpretation of Italy’s recent economic decline, which began two decades before the Great Recession. It argues that its deeper roots lie in the political economy of growth. This interpretation is illustrated through a discussion of Italy’s recent growth trajectory and of its politico-economic equilibrium. The emphasis is placed on the country’s convergence to the productivity frontier and TFP performance, and on the evolution of its social order and institutions. The lens throu… Show more
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