Report
Patrick Artus

At what point and why did the structural situation of the French and Italian economies start to deteriorate?

We look at the evolution of the French and Italian economies since 1980 to determine at what point the two countries’ economies began to deteriorate structurally: Slowdown in productivity; Decline in the size of industry and in market shares; Decline in the employment rate relative to other countries. This deterioration began in the late 1990s and early 2000s. We also seek to determine what may have caused this deterioration. We find the following factors were responsible: The decline in worker skills in France and Italy; The lag in corporate modernisation in France and Italy; The increase in the corporate tax burden in Italy; The increase in labour costs in Italy.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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