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Industrial Policy in Italy, 1945–90 PDF

331 Pages·1993·15.777 MB·English
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INDUSTRIAL POLICY IN ITALY, 1945-90 CENTRAL ISSUES IN CONTEMPORARY ECONOMIC THEORY AND POLICY General Editor: Mario Baldassarri, Professor of Economics, University of Rome 'La Sapienza', Italy This new series is a joint initiative between Macmillan and SIPI, the puplishing company of Confindustria (the Confederation of Italian Industry), based on the book collection MONOGRAHE RPE published by SIPI and originated from the new editorial pro gramme of one of the oldest Italian journals of economics, the Rivista di Politica Economica, founded in 1911. This series is intended to become an area inwhich the most topical economic problems are freely debated and confronted with different scientific orientations and /or political theories. The 1990s clearly represent a transition period in which the world economy will establish new international relationships and in this context, new challenges and new risks will have to be faced within each economic system. Fundamental issues on which economic theory and policy have long based their reasoning over the last two or three decades have to be critically reviewed in order to pursue new frontiers for theoretical development and economic policy implementation. In this sense, this new series aims at being a "place of debate" between professional economists, an updated learning tool for students and a specific reference for a wider readership aiming at understanding economic theory and policy evolution even from a non-specialist point of view. Published Mario Baldassarri (editor) KEYNES AND THE ECONOMIC POLICIES OF THE 1980s Mario Baldassarri (editor) INDUSTRIAL POLICYIN ITALY, 1945-90 Mario Baldassarri (editor) OLIGOPOLY AND DYNAMIC COMPETITION Mario Baldassarri, John McCallum and Robert Mundell (editors) DEBT, DEFICIT AND ECONOMIC PERFORMANCE Mario Baldassarri, John McCallum and Robert Mundell (editors) GLOBAL DISEQUILIBRIUM IN THE WORLD ECONOMY Mario Baldassarri and Robert Mundell (editors) BUILDING THE NEW EUROPE VOLUME 1: THE SINGLE MARKET AND MONETARY UNIFICATION VOLUME 2: EASTERN EUROPE'S TRANSITIONTO A MARKET ECONOMY Mario Baldassarri, LuigiP aganettoan d Edmund S. Phelps (editors) INTERNATIONAL ECONOMIC INTERDEPENDENCE, PATTERNS OF TRADE BALANCES AND ECONOMIC POLICY COORDINATION Mario Baldassarri, Luigi Paganetto and Edmund S. Phelps (editors) WORLD SAVING, PROSPERITY AND GROWTH Industrial Policy in Italy, 1945-90 Edited by Mario Baldassarri Professor of Economics University of Rome 'La Sapienza' M in association with Palgrave Macmillan St. Martin's Press © SIPI Srl, Rivista di Politica Economica 1990, 1993 Softcover reprint of the hardcover 1st edition 1993 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright licensing Agency, 90 Tottenham Court Road, London W1P 9HE. Any person who doesa ny unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. First published in Great Britain 1993 by THE MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 2XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library. ISBN 978-1-349-22987-1 ISBN 978-1-349-22985-7 (eBook) DOI 10.1007/978-1-349-22985-7 First published in the United States of America 1993 by Scholarly and Reference Division, ST. MARTIN'S PRESS, INC., 175 Fifth Avenue, New York, N.Y. 10010 ISBN 978-0-312-08975-7 Library of Congress Cataloging-in-Publication Data Politica industriale in Italia dal '45 ad oggi. English Industrial policy in Italy, 1945-90 / edited by Mario Baldassarri. p. cm. Includes index. ISBN 978-0-312-08975-7 1. Industry and state-Italy-History-20th century. 2. Industrial promotion-Italy-History-20th century. 3. Italy- -Economic policy. I. Baldassarri, Mario, 1946- . II. Title. HD3616.I83P6513 1993 92-28595 CIP Contents Preface 1 PART I: SURVEYS 1 Macroeconomic Policies and Industrial 17 Policies PippoRanci 2 Forty-Five Years of Industrial Policy in Italy: 31 Protagonists, Objectives and Instruments Romano Prodi and Daniele De Giovanni PART II: THREE LINKS Private-Public Sectors: 3 Phases of Italian Industrial Development 59 and the Relationship between the Public and Private Sectors Fulvia Coltorti 4 Public Enterprises and Industrial Policies 125 Paolo Leon Large-sized and Small Firms: 5 The Restructuring of Large-sized 141 Industrial Groups Gian Maria Gras-Pietro 6 Industrial Policies for Small and Medium Firms and 161 the New Direction of European Community Policies Patrizio Bianchi North-South: 7 The Tortuous Road of Industry through the 189 Mezzogiomo Mariano D'Antonio 8 Industrial Policies and Territorial Development in '237 Northern and Central Regions of Italy Maurizio Tenenbaum PART III: INNOVATION AND COMPETITNENESS 9 Industrial Policy and Technical Innovation(*) 301 Bruno Lamborghini and Cesare Sacchi Index 329 Preface During the last few decades, Italy's economic development has been tumultuous and, in many ways, contradictory. Its main features have been the growth and the coming of age of an industrialsystemwhichisfirmlyrankedamongthefirstfiveorsix most industrialized countries in theworld,and which, despite the riskandthedifficultiesinvolved,hasalwaysbeenthecomerstone of the nation's economy. In short, it was during these years that Italy became a strong and modem industrial economy. It will therefore be interesting to reexamine some of the key aspects of this development, not only to gain insight into the 'great race' and the successes of this period, but also to note the errors, limitations, problems, and defeats. This will enable us to better define the 'strategic position' of Italian industry and industrial policy, or the possibilities and the risks in store at the beginning of the 1990s,a timeofradicalchange. Within an international context of economic and financial integration, increased competitivity abroad and industrial specialization present both opportunity and risk, in the form of new prospects arising from changes in East-Westrelations,andintheformofgrowingcontrastbetween the northern and southern hemispheres. The creation of the single market in western Europe and the integration with East European countries both provide positive examples. However, an example of the dangers involved is the 1991 crisis in the Middle East which, though certainly fuelled by the hegemonic aspirations of one regime, may nonetheless (or at least, in part) be a signal of a widening discrepancy between North and South. In any modern industrial economy, it is always difficult to evaluate the role and the impact of economic policy, or more specifically,industrialpolicy,asaguideandastimulustoindustrial development. Indeed, its primary role must be to influence the decisionmaking and strategy of firms, and to make full use of the 2 Preface capacity which exists within every industrial system. Although economic and industrial policies can promote or stymie decisionmaking processes, they are incapable of 'inventing' the firm or industrial development on their own. As a consequence, the interaction between industrial policy, economic policies and development is difficult to define. Theoretical debate in favour of macroeconomics or microeconomics, economic policy or industrial policy, interventionism or laissez-faire, controlling aggregate demand or supply-side policies, by-sector or by-factor objectives, and guaranteeing or differentiating the rules of the game has ebbed and flowed, but has certainly not subsided. Empirical evidence from the leading industrialized countries reveals a vast array of experiences evolving over time within each nation:amongthesearethe'compactness' ofGermanandJapanese industry; the more sweeping changes of the English system, French 'dirigisme', the American neo-free-enterprise, and the 'atypical' Italian situation, which is the subject of this monograph and of the papers which follow. This book is divided into three parts. The first section outlines the theoretical frame of reference and the empirical experiences of the Italian economy during the last few decades. The volume begins with a paper by Pippo Rand, Macroeconomic Policies and Industrial Policies, which introduces the industrial policy 'issue', its role, its sphere of activity, and the various combinations created in macroeconomic and microeconomic scenarios. It is followed by a critical view of the framework, the turning points, the major issues, the philosophy and the approaches in connection in the study by Romano Prodi and Daniele De Giovanni, Forty-Five Years of Industrial Policy in Italy: Protagonists, Objectives, and Instruments. The second section examines threefundamental'links' between Italian economy, industry and industrial policy. Firstly, the public and private sectors are analyzed in depth in the paper written by Fulvio Coltorti, Phases of Italian Industrial Development and the Preface 3 Relationship between the Public and Private Sectors and in a special study by Paolo Leon, Public Enterprises and Industrial Policies. Secondly, large-and small-sized firms are dealt with in papers written by Gian Maria Gros-Pietro, The Restructuring of Large Sized Industrial Groups, and by Patrizio Bianchi, Industrial Policies for Small and Medium Firms and the New Direction of European Community Policies. Thirdly, the regional development gap becomes the subject of study in The Tortuous Road of Industry through the Mezzogiorno, by Mariano D'Antonio, and in Industrial Policies and Territorial Development in Northern and Central Regions of Italy, by Maurizio Tenenbaum. A common denominator can be found among all of the contributions in the first two sections: each work stresses the need for industrial policy to focus primarily on two synergic and interrelated objectives, innovation and competitivity. Major developments in this process were achieved during the 1980s, with the tumultuous beginnings of technological and organizational innovation ina context of growing integration and of international challenge. Moreover, innovation and the competitive struggle moved out of the realm of individual firms to encompass the entire economic and industrial system. The innovation and competitivity of companies became a part of the innovation and competitive survival of the system and of the country as a whole. The third section analyzes this message in the paper by Bruno Lamborghini and Cesare Sacchi, Industrial Policy and Technological Innovation. As in the other studies, the experiences of recent decades are re-evaluated not only to 'understand' what actually occurred but also to evaluate the Italian industrial system so as to meet the challenges presented within the international economic system and the Italian economy leading up to the year 2000. Ofcourse,anintroductionisnosubstituteforthedetailedstudy of each individual paper, and can hardly include all of their nuances and results in a few lines. Nonetheless, an attempt to identify and to link the basic messages of each work may have its

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