Public expenditure, saving and forengn loans in the devolopment of southern Italy
The article examines the effects on income, consumption, imports and fiscal receipts of an additional pubic investment expenditure aiming at raising the economic level of a depressed area. Although this problem is set in general terms, the study refers to the economic depression in Southern Italy,...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-10-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12852 |
| Summary: | The article examines the effects on income, consumption, imports and fiscal receipts of an additional pubic investment expenditure aiming at raising the economic level of a depressed area. Although this problem is set in general terms, the study refers to the economic depression in Southern Italy, a problem to which the author has been devoting his attention for a number of years. The paper points out the difference between such a policy of public expenditure and the anti-cycle policy to which up-to-date economic thought usually refers to. The difference lies mainly in the following points: availability of productive factors not matched by an availability of monetary savings; a longer duration of the required State action and the low profitability of public investments. Notwithstanding this special situation, an anti-depression policy may be carried out successfully, particularly if the experience of the war economy is kept in mind.
JEL: H50, H54, O11, 020
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| ISSN: | 2037-3635 2037-3643 |