Ifo Institute for Economic Research Munich, Germany Italy and the Eurocrisis Giampaolo Galli 13 May 2013.

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Presentation transcript:

Ifo Institute for Economic Research Munich, Germany Italy and the Eurocrisis Giampaolo Galli 13 May 2013

Real GDP (2000 = 100) IMF estimates for 2014. Source: IMF.

Italy: industrial production (January 2000 = 100, seasonally adjusted data) Indice della produzione industriale (Primo trimestre 2008=100) Source: ISTAT.

Unemployment Rate Source: EC

Italy: net balance of new Smes Source: Unioncamere

General government gross debt (In percentage of GDP) IMF estimates for 2014. Source: IMF.

General government primary net lending/borrowing (In percentage of GDP) - 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 France Germany Italy Spain United Kingdom United States IMF estimates for 2014. Source: IMF.

Performance of GDP per capita in major European countries* (GDP per capita, U.S. = 100) *International dollars purchasing-power-parity (PPP). Source: IMF.

Productivity in major advanced countries GDP per hour worked Total factor productivity France Germany Italy Japan Spain United Kingdom United States France Germany Italy Japan Spain United Kingdom United States Source: OCSE.

Italy:Unit labour costs and real wages Indice 1999=100 ULC Net real wages 1999 2005 2011 Source: Oecd and Bank of Italy

Productivity in tradable and non-tradable sectors (Gross value added per person employed, 2000 = 100) Italy Tradable Non tradable Eurozone Tradable Non tradable Source: European Commission.

Labour productivity in 2007 (Value added at constant price / hours worked; 1995 = 100) Source: EU-Klems (2009)

Total factor productivity in 2007 (1995 = 100) Source: EU-Klems (2009)

Italy: current account balance (In percentage of GDP) Source: IMF.

Exports as % of GDP 0,45 0,40 Germany 0,35 0,30 0,25 Italy France 0,20 Spain 0,15 0,10 0,05 1970 1975 1980 1985 1990 1995 2000 2005 2010 Source OECD STAN Bilateral Trade Database

Flows of foreign direct investment (In percentage of GDP) UK Italy Latvia Spain Greece Austria France Poland Cyprus Ireland Portugal Sweden Finland Estonia Bulgaria Belgium Slovenia Hungary Slovakia Germany Lithuania Romania Czech Rep. Denmark Netherlands Source: European Commission.

Average firm size in selected European countries Source: Eurostat.

Italy has one of the lowest investment ratio in R&D and ICT specialization among OECD countries

Share of family-owned and family-managed enterprises (In percent) Source: Bugamelli, Cannari, Lotti e Magri (2012).

Share of enterprises by age of entrepreneurs and percentage of graduates in the labor force (In percent) Source: Bugamelli, Cannari, Lotti e Magri (2012).

Ifo Institute for Economic Research Munich, Germany Italy and the Eurocrisis Giampaolo Galli 13 May 2013