Post pandemic Italy’s banking sector: new challenges, new opportunities for the real economy
As it leaves the health emergency behind, Italy is focusing on economic recovery. The European resources of the National Recovery and Resilience Plan offer major opportunities in a shifting scenario. On the one hand, the crisis was not the result of structural problems, but rather due to a situation created by the pandemic; this means that, despite the difficulties of this forced arrest, reviving the economic machine should not be too problematic. On the other hand, however, these long months of inactivity have compromised the financial situation of many firms.
Creating Excellence
Creating excellence is one of Aspen Institute’s cardinal objectives, and one of the strategic factors in generating the country’s recovery. To this day, Italy remains an advanced European economy despite its relatively low percentage of university graduates. That percentage could be augmented through a different interpretation of education that embraced those hubs of excellence that flourish thanks to their ability to interface with the business world.
Economic recovery: strengths and weaknesses in the business world
Apart from the pandemic’s quantifiable and, to some extent, already recognized impact, how it has influenced the economic policies of governments across the globe is another assessment to be made. It is along this dual track that the trajectory of recovery and medium-term development can be examined. The European context has shifted in response to post-pandemic needs that are, nevertheless, even more broadly changing the relationship between the roles of government and how global markets function.
Training as a development strategy: human capital and growth
The relationship between human capital and development has been a topic of study since economic policy has existed. Nevertheless, training and skills enhancement have long been underestimated by theories that have foregrounded other productive factors as decisive to economic growth.
The labor market after the pandemic
The covid-19 pandemic has been an extraordinary accelerator of trends already begun prior to the emergency. During the March 2020 lockdown, progress was made regarding the Italian labor market in just a few weeks. In terms of digitalization, the resilience of organizational models, and the spread of specific skills, this transition would otherwise have taken decades.
Investing in R&D: why should Italy do it?
Research is one of the assets that Italy needs to tap as it strives to jumpstart the economy. The pandemic and the science community’s rapid response to the virus have further emphasized the importance of a competitive ecosystem in this sector. Italy’s National Recovery and Resilience Plan offers an opportunity to invest both in basic research and in subsequent development and technology transfer stages. The country can claim a certain amount of progress over recent years, but intervention is still necessary in a range of areas.
The Biden Administration and the Future of America
President Biden’s inauguration comes at a moment of serious division in the United States. Urgent domestic issues and a shifting international context have created some major challenges for the American leadership. Although he may be eager to put the “Trump factor” behind him with a long series of executive orders right from the start, the new president must also lay out a broader strategy.
Aspen Forum Italy/France
What were already solid Italian-French relations have become even stronger as the two nations have confronted the challenges posed by the pandemic, the first and most restrictive of these having had to do with the second wave. The continuous coordination France and Italy have set in motion is emblematic of the unified European reaction that followed an initial lack of cooperation during the first phase of the emergency. Today’s joint European efforts on a vaccine is proof that the Union can play a decisive role in this crisis, with benefits across its entire membership.
The Power of Resilience in a Changing World
Globalization, new technologies, social media, migrations, racial tensions, and now the Covid-19 pandemic, have completely changed the face of society and are revolutionizing the business world for large and small firms alike. The pandemic, in particular, has sorely tested our systems’ capacity for resilience and foregrounded many fragilities, not only from a financial standpoint, but also in a more sweeping sense that encompasses public health, the environment, employment security and social equilibrium.
China in the post-Covid order: implications for the EU and Italian business interests
The Covid-19 crisis is rocking the world economy, and in the wake, no less, of an already partially underway “de-globalization” process. The diversification – and possible fragmentation – of the global supply chain presents a major challenge to the Chinese economy, but it is not at all certain that it will have such drastically negative effects on global growth, since there are a great many companies (including some Italian ones) interested today in breaking into the Chinese market, and Chinese companies interested in diversifying trade partnerships.
The challenge of European Digital Sovereignty
Digital technology is clearly a fundamental sector of the twenty-first century economy. It also demands deep behavioral adaptation by individuals and the society as a whole, a new legislative framework and conceptual tools. There is broad consensus in Europe by now about the need to ensure greater autonomy with the freedom to set effective rules in this pivotal sector, establishing what is known as “digital sovereignty”.
A recipe to relaunch Italy’s economy
Italy must not underestimate the challenge of generating economic recovery using Next Generation EU resources. Europe, after so many years of hesitancy, made a decided shift in gears when it reached out to the market to collect the funds for reconstruction. It is now up to individual countries to submit credible recovery plans. There are various glitches to be resolved when it comes to the Italian situation – first among them being to formulate a consistent vision of the country’s future.
Southern Italy: the key to relaunching the Italian economy?
Southern Italy needs a new vision for the future built on consideration of its system strongpoints and on a deeper scrutiny of its problems, with a view to identifying alternative proposals focused on the competitive capacity of those regions, with the goal of improving the business environment.
Generational turnover in Italy
Business is the fundamental agent in the recovery of an economy struck as dramatically by the pandemic as Italy’s has been. To determine whether that recovery will be a success we need to consider the system’s economic armature of countless small and medium-sized family-run enterprises. Today’s generational hand-over becomes even more important than it has been over recent decades. At stake is the result of the major challenges awaiting national manufacturing: the digital transformation and the environmental transition.
Doing business in Italy
“Doing business” is a term that evokes complexity and challenge, especially when paired with “in Italy”, a country well known for its structural problems and irreconcilable contradictions: Structural problems consisting of a slow and chaotic bureaucracy, lack of legal certainty – due to repeated impulsive legislative modifications as well as to inconsistency and sluggishness in the judicial application of the law – and excessive difficulty accessing credit; irreconcilable contradictions in the form, first, of constant references to entrepreneurs as the drivers of economic recovery clash, wi
The world post Covid-19
The Covid-19 pandemic has brought the world to the edge of a new frontier, and underscored the urgency need to redesign economic systems and development models, opting for what the new European Commission has described as greener and more sustainable and inclusive approaches. China, where it all started, has been the first nation to succeed in controlling and preventing the pandemic.
Building an interconnected society: infrastructure, investment, innovation and integration
The pandemic has had a considerable impact on lifestyles, both temporarily and longer term (structurally). Even after the arrival of an anti-coronavirus vaccine, an interconnected society is going to have to recuperate a good number of physical living spaces in order to get back to “normal”. That means fewer distance-based activities, some of which, however, are bound to remain useful and will tend to be employed more as we move forward than they were in pre-emergency times.
The cum-Covid recovery: comparing best practices. How to combine health and business
The main challenge associated with the spread of Covid-19 into the autumn/winter is going to be healthcare facilities’ ability to diagnose and treat a growing number of virus cases (as per all predictions) and distinguish them from seasonal flu. While Covid countermeasures will surely contribute significantly to reducing the incidence of regular flu, the annual illness will in any case continue to deplete healthcare resources.
The Recovery Fund: how to revive Italy’s economy?
Approval of the Recovery Fund is an important sign that Europe is finally ready to embrace a shared development process; what had long seemed a remote possibility has begun to materialize. Nevertheless, the most delicate part of the process – putting political consensus into practise – now begins for the European institutions and members concerned.
Dealing with complexity today: how to launch the recovery
The outbreak of the Covid-19 pandemic and the lockdown that followed has dealt a hard blow to Italian enterprise. According to Bank of Italy estimates, the 2020 GDP contraction will be somewhere between 9 and 13%.
Italy, Europe and India: building a post-covid economy
The world is in the midst of an unprecedented health and economic crisis, and there seems to be a vacuum in global leadership (certainly of US leadership). No single country can offer an effective recipe for resolution. The EU, at least, has recently demonstrated the ability to come together and agree on a large economic support package, but there remains a need for coordination at an even broader level. This, in turn, may require a consensus on common standards, from fair trade to scientific cooperation to specific health issues.