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Italy / The Uncertain Future of Savings in the Northern Regions

Anno XXXIV, n. 149, marzo-aprile 1999
Centro Einaudi


Testo disponibile solo in lingua inglese.
This article is one of the contributions to the research project entitled The economic prospects of northern Italy in the year 2000 promoted by the Centro Einaudi and CESDI with the contribution of the Compagnia di San Paolo. It is devoted specifically to the accumulation and use of savings. It analyses business and family saving trends, as well as savings from fiscal residues. The author concludes that as long as we speak of the present magnitude of the financial resources endogenous to the northern regions, the picture is an extremely comforting one. Outlining future scenarios is a much more problematic business, partly as a consequence of the birth of the euro. Foreign investment by firms will continue to be the natural outcome of internationalisation strategies and family savings – albeit falling – may be used throughout the euro area. Financial resources will be deployed increasingly across the market. Central to the maintenance or growth of the portion of such resources used in northern regions will be the effective capacity to compete of regional economic agents, as well as political decision markers’ commitment to support their competitiveness.

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