A Quantitative Evaluation of INDUSTRIA 4.0 Through Simulation of QUEST III Italia

digital

Article

Magazine

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI

Fascicle

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2022 - 3

Title

A Quantitative Evaluation of INDUSTRIA 4.0 Through Simulation of QUEST III Italia

Author

Clio Ciaschini

Publisher

Vita e Pensiero

Format

Article |

Pdf

Online from

11-2022

Doi

10.26350/000518_000100

Issn

0035-676X (print) | 1827-7918 (digital)

€ 6.00

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Description

This paper provides a quantitative macroeconomic evaluation of the national INDUSTRIA 4.0 plan, the set of Industry 4.0 policy measures implemented by the Italian government. The evaluation is performed using the European Commission’s endogenous growth model QUEST III with R&D, adapted to Italy. Innovation of process- and skill-biased technical change characterizes the fourth industrial revolution and determines human capital formation and the spillover of knowledge accumulation. A set of model parameters and variants has been determined, and four policy scenarios are taken into account under two denominations: Innovative Investments and Skill Achievements. The Italian economy persists in its path of around zero growth, on which it has been for a while. The main results highlight a decade of weak growth, without strong innovation policy interventions, and a low profile and precarious outcomes on the labour side.