Italy: The Sheltered Economy: Structural Problems in the Italian Economy

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More About This Textbook

Overview


Based on the results of a three year empirical study analyzing the Italian economy, this work focuses on the role of state and private economic agents. Italy has a huge and interventionist governmental economic policy. Professor Padoa Schioppa Kostoris argues that much of this state action and regulation is irrational and counter-efficient. She further argues that the Italian economy is also characterized by a large and efficient black market, so that much of the private sector already evades state control. Since de facto deregulation therefore exists to a large extent, Kostoris calls for legal deregulation and privatization. She convincingly argues that a decrease in and an altered character of state action will enable the Italian economy to achieve higher growth, and to reconcile the goals of efficiency and public interest.
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Product Details

  • ISBN-13: 9780198287483
  • Publisher: Oxford University Press, USA
  • Publication date: 9/28/1993
  • Pages: 272
  • Product dimensions: 5.63 (w) x 8.81 (h) x 0.88 (d)

Table of Contents

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