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Archive » November 2021 » Savings, Investments, and economic growth. Beyond the pandemic

Savings, Investments, and economic growth. Beyond the pandemic

Ignazio Visco
November 2021 - n. 11
Keywords: Risparmio , crisi, crescita, pandemia, famiglie, imprese
Jel codes: G21, G28, E21, I15

Italy has been able to counter the severe recession caused by the pandemic thanks to the economic policies of the Government, the Eurosystem and the European Union, laying the foundations for a rapid and better than expected recovery. But a return to the previous levels of activity is not, for Italy, a sufficient goal, given the ground lost in past years. The insufficient dynamics of public and private Investment, which are affected by unresolved structural problems, is one of the main causes of the stagnation recorded in recent years. Household savings are struggling to find investment opportunities in the real economy. The return to sustained growth will depend on whether national Savings and European resources will find adequate outlets in productive investment. Responsible management of public finances can facilitate this process, reducing a significant source of risk.

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