Copyright

Giovanni Barbieri, Floriana Cerniglia, Enzo Dia

Published On

2023-12-12

Page Range

pp. 69–84

Language

  • English

Print Length

16 pages

4. Italy’s Public Investments

The NRRP and Beyond

Chapter of: Financing Investment in Times of High Public Debt: 2023 European Public Investment Outlook(pp. 69–84)
This chapter provides the country report on Italy with an analysis of the role the Italian National Recovery and Resilience Plan in boosting public investment up to and beyond 2026. Italy’s NRRP has more than 235 billion euros available for investments and reforms, making it one of the most remarkable modernization initiatives in the last seventy years. The impact of the NRRP is assessed and specific implementation challenges are highlighted, some of which have been caused by factors such as fragmented governance, a lack of effective monitoring, and compliance issues. Overcoming these difficulties is crucial for continuing to receive disbursements from the Commission. The effectiveness of its governance is examined. An open question is how to ensure a positive capital-spending trajectory in Italy (especially after 2026) in compliance with the new rules set out in the Stability and Growth Pact.

Contributors

Giovanni Barbieri

(author)
Research Fellow at CRANEC at Università Cattolica del Sacro Cuore

Giovanni Barbieri is a Research Fellow at CRANEC (Centro di ricerche in analisi economica e sviluppo economico internazionale) at Università Cattolica del Sacro Cuore. He holds a PhD in Institutions and Policies. He was previously Adjunct Professor of History of International and Commercial Institutions at the University of Palermo (D.E.M.S., Italy), project researcher in the Kone Foundation Project ‘Regional Challenges to Multilateralism’ (Tampere University, Finland), and Visiting Scholar at ‘Istituto Ciampi’ in Florence (2022). His main expertise is in international political economy (IPE), in particular the problem of uneven development and the new challenges posed by rising countries to the current global governance scheme with particular reference to BRICS.

Floriana Cerniglia

(author)
https://orcid.org/0000-0001-9972-716X

Floriana Cerniglia is a full professor of Economics at Università Cattolica del Sacro Cuore (Milan) and Director of CRANEC (Centro di ricerche in analisi economica e sviluppo economico internazionale). She is the Co-Editor-in-Chief of EconomiaPolitica, Journal of Analytical and Institutional Economics. She received her PhD from the University of Warwick (UK) and her research interests are in Public Economics and in macroeconomic policies. She has published in leading international journals and she has coordinated and participated in a number of peer-reviewed research projects.

Enzo Dia

(author)
Associate Professor of Economic Policy at University of Milano-Bicocca
Research Fellow at CRANEC at Università Cattolica del Sacro Cuore

Enzo Dia is Associate Professor of Economic Policy at the Università degli Studi di Milano-Bicocca and a Research Fellow at CRANEC (Centro di ricerche in analisi economica e sviluppo economico internazionale) at Università Cattolica del Sacro Cuore. He received his PhD from the University of Strathclyde (UK) and is a fellow of the Rimini Center for Economic Analysis. His research interests are in macroeconomics, banking, and institutional economics. He has published in leading international journals and he is Co-Editor of the Journal of Macroeconomics.