Competition and Regulation in Italy

59 Pages Posted: 23 May 2012

Date Written: April 27, 2012

Abstract

Insufficient competition remains a major obstacle to growth in Italy. The main culprits include the institutional environment and the regulations governing some economic sectors subject to market failures. As to the former, relative neglect of economic efficiency has produced an unstable and inconsistent regulatory framework, excessive administrative burdens, and an inefficient system of contract enforcement. Past attempts to reform this area have yielded poor results. As to the latter, regulation was satisfactory only in some sectors. The excessive number of activities in which some operators enjoyed exclusive rights to provide services and restrictive regulation hindered competition in professional services. Growing awareness of the importance of competition policies to foster growth has given new impetus to the implementation of a wide programme of liberalization and institutional reform.

Note: Downloadable document is in Italian.

Keywords: competition, regulation, antitrust, institutions

JEL Classification: K23, K40, K43, K44

Suggested Citation

Bianco, Magda and Giacomelli, Silvia and Rodano, Giacomo, Competition and Regulation in Italy (April 27, 2012). Bank of Italy Occasional Paper No. 123. Available at SSRN: https://ssrn.com/abstract=2064682 or http://dx.doi.org/10.2139/ssrn.2064682

Magda Bianco (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

Silvia Giacomelli

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

Giacomo Rodano

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

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