OECD Economics Department Working Papers

Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.

The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.

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Sectoral Regulatory Reforms in Italy

Framework and Implications

This paper discusses product market regulatory reforms in Italy over the past decade. Special attention is given to the underlying macroeconomic context for sectoral reforms and the role played by such reforms in consolidating the gains of macroeconomic convergence for entry into the European Monetary Union. The paper suggests that the shift towards more market-oriented and less interventionist policies, has allowed Italy’s legal and institutional framework to come closer to the mainstream of good regulatory practices in the OECD countries. With Italy having been initially a laggard on the regulatory reform front, recent achievements have been remarkable. They are, however, incomplete. A major challenge is the need to secure competition in the sheltered sectors of the economy, where inflation inertia raises costs and affects the exposed sectors, thereby weakening international competitiveness ...


Keywords: macroeconomic convergence, competition policy, Italy, regulatory reforms
JEL: K23: Law and Economics / Regulation and Business Law / Regulated Industries and Administrative Law; L6: Industrial Organization / Industry Studies: Manufacturing; H3: Public Economics / Fiscal Policies and Behavior of Economic Agents; L8: Industrial Organization / Industry Studies: Services; L51: Industrial Organization / Regulation and Industrial Policy / Economics of Regulation
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