Italy’s savings: how to make it work for the country’s development and well-being
Opening the discussion at this National Roundtable was the observation that Italy’s stock of personal savings continues to highlight its strong position as a country with among the highest per-capita net worth in the world. Nevertheless, it was acknowledged that in order to give a complete picture of the situation, two areas in which Italy diverges from, in particular, other major European countries, need to be considered.
The role of international businesses in Italy’s economic growth
This roundtable saw those in attendance debate the role that foreign-owned firms play in the Italian economy, particularly with a view to identifying approaches and measures that could enable foreign direct investment inflows to be improved.
Reforming corporate governance: proposals and tools
The participants at this National Roundtable noted that, in recent years, the corporate governance of Italian firms has changed in a rapid and decisive – though in some ways haphazard – manner. This process, which started in the 1990s, particularly in the wake of the wave of privatizations, was intended to make the financial market more attractive to foreign and Italian investors by providing greater guarantees for the protection of minority shareholders.
Sharing our future: forging an alliance between state and market for a new social contract
At this roundtable session dedicated to the future of Italy’s pension system, it was observed that population aging, the impending retirement of the baby boomer generation, the prolonged period of economic stagnation currently being experienced and dwindling public resources are driving Italy, as well as most other developed nations, to tackle questions regarding the relationship between the role of public and private social security schemes. Today, pensions, healthcare and welfare, in their various forms, are no longer being delivered solely by the state.
The meaning of growth: paradigms, old and new
Once upon a time, there was GDP. Or rather, once there was “just” GDP, understood as an aggregate indicator used to measure a country’s economic growth by quantifying the flow of goods and services for end-use and produced within a certain period of time in a given territory.
Eurobonds: the intricate relations between politics and economics
Discussions at this national roundtable session got underway with the observation that the idea of introducing European public debt securities – or so-called Eurobonds – is not a new one: indeed, it dates back to 1993 when Jacques Delors proposed, albeit in embryonic form, the issuance of European bonds to finance investment in European Community infrastructure.
Information services in the security sector: protecting Italy’s national interest
Discussions at this National Roundtable commenced with an acknowledgement by the participants that the global economic arena is no longer characterized by competition played out solely between businesses, but rather sees national economies pitched against each other ever more fiercely.
This trend has led to a gradual widening of the concept of “national security”, with many States now including economic and financial security within the ambit of this term.
How the financial system can support growth
This national roundtable discussion got underway with the observation that, traditionally, the banking system has played a key role in economic growth by channeling personal savings into financing the productive activities of businesses.
Finding alternative indicators of well-being and growth in Italy
The debate over the need to broaden the scope of economic indicators – and more particularly, moving beyond measurements of GDP – has inspired a wide range of studies on the topic both in Italy and abroad. This roundtable event examined a recent Aspen Institute Italia-Fondazione Edison study entitled “Italy in the new geo-economy of the G-20”, which aims to contribute further to this discussion. The study reveals an Italy that is better-placed than indicated by traditional rankings and compares favorably with other industrialized economies in numerous fields.
Increasing Italy’s exports
The roundtable got underway with an examination of the twofold characterization of Italian exports that has, for over a decade, been a core theme in public debate over the competitiveness of the Italian economy in the age of globalization – one which sees exports both as a driver of Italy’s growth and, at the same time, as a reflection of the outward-looking nature of the Italian production system.
Moving people: how to improve competitiveness, efficiency, and quality
The roundtable participants began their examination of the mobility issues affecting Italy today with the observation that, last year alone, Italian households spent on average more than 35 billion euro on getting from one place to another. Also in 2009, the cost of congestion in metropolitan areas was around 9 billion euro. Just in Rome, for example, fuel consumption totaled between 12-15 million euro in the same year – to which must be added the costs generated by rising pollution in cities and areas beyond city limits, as well as by road traffic accidents.
The economic value of Italy’s cultural patrimony
The discussion at this roundtable session got underway with the incisive observation that managing and exploiting a vast and valuable cultural heritage requires a well-thought-out cultural policy, and a continual balance to be struck between preservation and economic development, between making use of this asset and ensuring it is not “used up”, and between the conservation of ancient artistic works and nurturing contemporary art.
The economic dimension of crime
The roundtable session opened with an acknowledgement by participants that the processes of globalization have made the fight against crime more complicated. Criminal activities have spread worldwide, expanding with the internationalization of trade and growth in migration flows. At the same time, however, organized crime has maintained a strong local flavor, due to its embeddedness in local communities and its permeation into the fabric of society.
Artists and artisans: resources for Italian workers
The roundtable session got underway with an acknowledgement by the participants of the crucial importance of reviving Italy’s artisan culture – a tradition synonymous with the production of high-quality goods through the accumulation, pooling and dissemination of know-how.
New international strategies to support Italian business
The financial crisis has considerably modified the environment in which Italian firms operate. It has introduced new problems in the export sector that are related not only to structural changes in the capital markets but also to difficulties in accessing credit.
Italy’s demographic trends: problems and opportunities
Proceedings at this roundtable session got underway with the participants observing that an aging population, immigration and the brain drain are issues that Italy needs to address by looking to the future as well as at the past. Indeed, the current state of affairs is the product of previous trends. In decades gone by, there was a surplus of births over deaths and a negative migration balance, but today that situation has been reversed.
Reforming market capitalism
The participants at this roundtable were deeply critical of the lack of transparency in the international financial system, the product of an out-of-control laissez-faire capitalism and a global lex mercatoria that has swept aside traditional capitalist organizational forms and the regulatory functions of public authorities.
Low cost – high value: a new business model
Discussion at this roundtable event got underway with the participants citing recent figures indicating that 70% of Italians anticipate they will have to cut down on spending in 2009. The figure was 21% in 2001, 29% in 2002 and 42% in 2004. At a time of international crisis, this growing trend is forcing businesses to rethink their business models.
The common good: truth and gift-giving
The participants at this roundtable session noted that Pope Benedict XVI, in his recent encyclical entitled Caritas in veritate, reiterates that “the world is in trouble because of the lack of thinking”. It would seem that modern life, with its daily challenges, is focusing minds on more immediate and direct concerns. Today’s cultural impoverishment and loss of ideals has generated a fear of living, thought and reflection.
Expanding broadband in Italy
Discussion at this roundtable event got underway with the observation that the development and spread of broadband internet access services have played and will continue to play a key role in the growth of the Italian economy. Indeed, the potential of broadband services to contribute to the simplification of business and administrative processes and the introduction of more efficient business models constitutes an essential prerequisite for improving the international competitiveness of the country’s economy.