During the 44th “Intelligence on the World, Europe and Italy” Forum, Villa d’Este on September 7, 8 and 9, a study entitled “Growth Objective. What Companies and State can do in order to foster Growth in Italy” has been presented.
“Objective: Growth. What businesses and the Government can do to make Italy grow again”, the study prepared as part of the activities of the Ambrosetti Club, analyzes the slow-down in growth the country has experienced and is still experiencing, as seen from the perspective of productivity.
The study analyzes the slow-down in growth the country has experienced and is still experiencing, as seen from the perspective of productivity. By breaking down productivity into its main components – productivity of labor and of capital, and the “system energy”, expressed in the literature as multi-factor productivity – it was observed that the main explanation for the slow growth is due to a level of system energy significantly lower than that in other countries.
System energy measures the contribution to growth deriving from managerial methods, digitalization, the regulatory framework and economic climate in terms of positive spillovers. From this standpoint, the major critical areas involving businesses and the public administration were also analyzed.
Four areas of action for companies (managerial energy, digital energy, talent energy and size-related energy) and three for government (the PA, demographics, young people, women and training, and strategic investment) were identified, areas which if properly stimulated could relaunch system energy and, as a result, the nation’s productivity and growth.