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7. How to Adjust? Italy and Spain at the Test of Financial Integration and Crisis
This article investigates the policy similarities/differences between the Italian National Recovery and Resilience Plans (NRRPs) elaborated by the Conte II government and the one elaborated by the Draghi government. To this end, the article compares the two NRRPs along four dimensions: allocation of financial resources across components, adherence to Country Specific Recommendations, length and specificity of reform proposals, and centralization of political control over the investment and reform agenda. The comparative analysis shows a substantial continuity between the two governments’ NRRPs in the first two dimensions, while the two NRRPs differ substantially in the emphasis placed on structural reforms and in the level of centralized governance, as the final NRRP weighs reforms and political control much more heavily than its predecessor.
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