What are the mechanisms for transmitting the reforms included in the NRP to the real economy? What indicators could potentially be useful to monitor its effects? What are the implications for Italy?
After describing the key features of the reforms included in the Italian National Recovery and Resilience Plan (NRP), the document discusses the mechanisms of transmission of reform-induced improvements, in the institutional environment and regulatory framework, to the real economy. A number of synthetic indicators are also presented that could potentially be useful in monitoring the contribution of the reforms to institutional quality. The main implications for the Italian economy should the objectives envisaged by the PNRR be achieved are also covered.
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