Cohesion policy has developed from a minor concern to one of the most important pursuits of the European Union. It amounts to about 35% of the EU budget, making it the second largest budget item. A reform of the EU’s structural policies is now unavoidable because of i) the performance of...

Despite a declining trend in its world export market share since the beginning of the 90s, Italy is still today the world’s 7th exporter and importer, 7th as share of world GDP, 25th in the ranking of world per capita incomes in PPP terms. However Italy’s potential growth of output and...

A high share of foreign currency denomination of domestic public debt in rules out any recourse to inflation tax as an effective adjustment device. Anti- inflation policies based upon hard peg regimes may remove the exchange rate risk in the short run but - as pointed out by Argentina’s...

Negli ultimi vent'anni, l'apertura commerciale delle economie dell'Asia orientale – con abbondanza relativa di lavoro - ha eroso il vantaggio comparato dei paesi a reddito medio-alto nei manufatti ad alta intensità di lavoro. Questo fenomeno ha colpito particolarmente l’Italia, notoriamente...

The rate of technical change that is characterising both the telecommunications and the computer industry has been a major driver of the evolution of a close and stable system into an open and dynamic one. The introduction of a cluster of new technologies has originated significant changes...