Keywords
economic growth
economic policy
economic perfor-mance
government assessment
How to Cite
Accepted 2016-04-19
Published 2016-05-29
Abstract
“- austerity = + economic growth” equation has been the focus of Renzi’s Government economic policy, as stated in the Italian Stability Program 2014. This research proves that Italy did not experience such trade-off in the short term. Furthermore, as mainstream literature had demonstrated, as to the negative correlation between high public debt and economic growth, this investigation has collected evidence that the growth of public debt, in absolute terms and in relationship with Gdp, has been accompanied in Italy by economic stagnation. Moreover, data show that this situation is, in the European framework, a phenomenon nearly exclusively specific to Italy.References
Documenti ufficiali:
Programma di stabilità del Governo italiano, 8 aprile 2014, www.mef.gov.it.
Programma di stabilità del Governo italiano, 10 aprile 2015, www.mef.gov.it.
Raccomandazione del Consiglio, 8 luglio 2014 (2014/C 247/11), contenente un parere sul programma di stabilità 2014 dell'Italia, http://ec.europa.eu/economy_finance/index_en.htm.
Raccomandazione del Consiglio, 14 luglio 2015 (2015/C 272/16), contenente un parere sul programma di stabilità 2015 dell'Italia, http://ec.europa.eu/economy_finance/index_en.htm.
Article IV consultation report del Fmi, 7 luglio 2015, www.imf.org.
Alert Mechanism Report 2016, 26 novembre 2015 (COM 2015 691 final), http://ec.europa.eu/economy_finance/index_en.htm.
Country Report Italy 2016, including an In-Depth Review on the prevention and correction of macroeconomic imbalances della Commissione europea, 26 febbraio 2016 (SWD 2016 81 final), http://ec.europa.eu/economy_finance/index_en.htm.
Saggio da rivista:
Baldacci E., Gupta S., Mulas-Granados C. (2013). Debt Reduction, Fiscal Adjustment, and Growth in Credit-Constrained Economies. IMF Working Paper, WP/13/238.
Bruzzo A. (2013). Stabilità finanziaria e sviluppo economico: una compatibilità difficile, ma non impossibile per l’Italia con misure di tipo non convenzionale. Argomenti, n. 39 (pp. 5-46).
Herndon T., Ash M., Pollin R. (2014). Does high public debt consistently stifle economic growth? A critique of Reinhart and Rogoff. Cambridge Journal of Economics, 38 (2): 257-279.
Panizza U., Presbitero A.F. (2014). Public debt and economic growth: Is there a causal effect? Journal of Macroeconomics, Volume 41 (pp 21–41).
Pescatori A., Sandri D., Simon J. (2014). Debt and Growth: Is There a Magic Threshold? IMF Working Paper, WP/14/34.
Reinhart C. & Rogoff K. (2010). Growth in a Time of Debt. National Bureau of Economic Research, working paper series, n. 15639.
Taylor L., Proaño C.R., de Carvalho L., Barbosa N. (2012). Fiscal deficits, economic growth and government debt in the Usa. Cambridge Journal of Economics, 36 (1): 189-204.
This work is published under a Creative Commons Attribution 4.0 International License.