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The point of view of Osservatorio Regionale Banche –Imprese di Economia e Finanza BARI, ITALY WARSAW, SEPTEMBER 24th/25th By Dr. Maria Patrizia Marino www.bancheimprese.it www.bancheimprese.it MEZZOGIORNO OF ITALY : BACKGROUND STRATEGIC LOCATION TEMPERATE CLIMATE: HOT AND DRY SUMMERS; MILD AND WET WINTERS TOTAL AREA: 123.000 square Km = 40,8% of Italian Surface POPULATION: 20.842.000 = 34,8% of Italian Population GDP 2008: 371.918,40 millions of euros (current price) = 28,6% Italian GDP RATE OF UNEMPLOYMENT: 12% (ITALY 7,5%) RATE OF EMPLOYMENT: 52,4% (Lisbon Strategy: an overall rate of employment= 70%) WAGE-EARNING POPULATION: 6.684,4 = 27,2% of Italian one www.bancheimprese.it 1951/1992: EXTRAORDINARY INTERVENTION BY GOVERNMENT THE TOTAL COST COMES TO 342,5 BILLIONS EUROS A GREAT GAP BETWEEN NORTH & SOUTH OF ITALY UP THE 80s TO NOW: STRUCTURAL FUNDS BY EU THE TOTAL COST COMES TO 30 BILLIONS EUROS www.bancheimprese.it Figures and Issues of the GAP In the south of Italy Southern GDP per Capita in 1951 was 55% of Northern one Southern GDP per Capita Today is 57,9% of Northern one www.bancheimprese.it WHY WASN’T THERE A RECOVERY IN COMPARATIVE TERMS? THE MAIN PROBLEMS HISTORICAL INSTITUTIONAL FINANCIAL SOCIAL www.bancheimprese.it The Question of Southern Economic Development THE PROCESS OF THE UNITY OF ITALY Elimination of intermediate bodies(such as labourers & small landowners) The Establishm ent of Criminal Networks www.bancheimprese.it The Southern Agricultural Products Sold at a Low Price The northern Manufactures Sold at a High Price The Migrations impoverished the south of human resources to industrialize the northern area Policies antidistributive were achieved such as the tax on the flour and deferring of the Agrarian Reform ….PREVENTING THE SOUTH OF ITALY TO START A PROCESS OF ECONOMIC DEVELOPMENT INSTITUTIONAL ISSUE Bureaucratic Delays www.bancheimprese.it Plethora of Institutional Bodies Extreme Fragmentation and Bounce of Responsabilities Delays from Governing Board FINANCIAL ISSUE Budget Constraints • National Debt •National Deficit •The Stability and Growth Pact Reduction of the percentage addressed by Financial Act to the Investment in the South of Italy from the approved 45% to the current 35% www.bancheimprese.it Social Issue CRIMINALITY LACK OF GENERATIONAL TURNOVER LACK OF MERITOCRATIC APPROACH www.bancheimprese.it SOUTHERN INDUSTRIAL SYSTEM: NEGATIVE ASPECTS COMPANY POLICIES & MARKETING STRATEGIES BASED ON JUST LOW PRICES POLICIES MEDIUM/SMALL SIZE WITH A VERY SMALL CAPITALIZATION DEGREE, CASH FLOW & ASSETS www.bancheimprese.it VERY FEW INVESTMENT IN R&D, ICT, AND A LOT OF FACILITIES AND MACHINERY THE COMPETITIVENESS IS VERY LOW VERY HARD RELATIONS BETWEEN BANKSENTERPRIS ES SOUTHERN INDUSTRIAL SYSTEM: POSITIVE ASPECTS AREAS GONE OUT FROM CONVERGENCE OBJECTIVE ABRUZZO SARDEGNA MOLISE BASILICATA (PHASING OUT) REMARKABLE INDUSTRIAL SECTORS AIRCRAFT INDUSTRY, MECHANICAL SECTOR, PETROLCHEMICAL, LOGISTICS (Harbours such as Gioia Tauro & Taranto), FASHION INDUSTRY, ICT, AGRO-INDUSTRY, ENERGY INDUSTRY) THESE VIRTUOUS PROCESSES ARE LOCATED DOWN COASTAL AREAS(TOURISM) AND AROUND THE MAIN CITIES (SERVICE INDUSTRY & CULTURE) www.bancheimprese.it MEZZOGIORNO OF ITALY: SWOT analysis STRENGHTS Strategic Location Production System Availability Human Capital and Availability Production Capacity(Factories) www.bancheimprese.it WEAKENESSES Competition from Emerging Countries Inefficiency of Institutions An Obsolete System of Governance MEZZOGIORNO OF ITALY: SWOT analysis OPPORTUNITIES East Corridor Good “geo-economic hub” www.bancheimprese.it THREATS Mentality of Resignation, Complaint and Escape from Own Responsabilities BANKS-ENTERPRISES OBSERVATORY ACTIVITIES PROCESS AND DYNAMICS OF COMPETITIVENESS IN SOUTHERN SMEs ELEMENTS AND DATA TO HELP THE SOCIOECONOMIC ACTORS ON THE TERRITORY IN ECONOMIC PLANNING & POLICIES RELATIONSHIPS BETWEEN BANKS & ENTERPRISES www.bancheimprese.it WHAT CAN WE DO ALL TOGETHER FOR OUR TRIPLE MEZZOGIORNO GENUINE AND TANGIBLE APPLICATION AND DISSEMINATION OF LISBON STRATEGY PRINCIPLES (SOCIAL COHESION, MORE AND BETTER JOBS, SUSTAINABLE DEVELOPMENT). TO AIM INVESTMENTS AT FOSTERING INNOVATION, R&D, MARKET, VOCATIONAL EDUCATION & TRAINING SYSTEM TO DEFINE GOOD POLICIES FOR FDI (FAVOURABLE TAXATION SYSTEM, INFRASTRUCTURES..) EFFECTIVE USE OF STRUCTURAL FUNDS www.bancheimprese.it OBI’s PROPOSAL A NEW APPROACH TO FACE A LONGTERM DEVELOPMENT www.bancheimprese.it THANK YOU FOR THE ATTENTION www.bancheimprese.it