Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/290107 
Year of Publication: 
2024
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 21 [Issue:] 1 [Year:] 2024 [Pages:] 113-132
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
We analyse Italy's growth pattern from 2001 to 2019 using the demand and growth regime categories proposed in the post-Keynesian tradition and recently adopted in the comparative political economy (CPE) literature. We argue that after the Global Financial and Economic Crisis (GFEC), Italy followed an export-led recovery strategy. In this respect, Germany's growth model emerged as the successful model to follow. In the dominant view, Germany's economic success since the mid-2000s was attributed to a series of painful but necessary economic reforms. The success of Germany's export-led mercantilist regime became particularly attractive to Italy given the similar export-oriented manufacturing industry. However, Italy has followed the 'wrong' German model based on wage compression and restrictive budget policies while the 'true' German model is based on non-price competitiveness factors.
Subjects: 
demand and growth regimes
export-led growth
competitiveness
internal devaluation
Germany
Italy
JEL: 
E10
E69
F14
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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