XIII - Competition and Growth in Italy in the Long Runedited by Alfredo Gigliobianco and Gianni Toniolo

Is it true that a lack of competition has marred Italy's economic growth? A group of scholars explore the question from different viewpoints, framing the Italian case in history and in the international context. While the theoretical link between competition and growth seems ambiguous, empirical studies give credit to the idea that, with exceptions, more competition leads to more growth. Italy's competition deficit is measured with different techniques and, as far as possible, explained. Is it culture? Is it the strength of interest groups? Is it policy? Or is it the whole organization of society, and notably a welfare system that tends to bind workers permanently to their jobs, that conspire against competition? Case studies of relevant sectors (chemicals, retail trade, and banking) complete the book, gauging the effects of competition (or the lack of it) on sectorial price dynamics and productivity.