Paolo Savona
Encyclopedia
Paolo Savona is an Italian economist and university professor.
In 1976, Guido Carli became the President of Confindustria and asked Savona to follow him as General Director, a post that he kept until 1980.
In the following years, he became President of Credito Industriale Sardo (1980–1989), Secretary-General for Economic Planning at the Ministero del Bilancio (Ministry of Financial Balance – 1980-1982), Chief Executive Officer and then Managing Director of Banca Nazionale del Lavoro (1989–1990), President of Fondo Interbancario di Tutela dei Depositi (1990–1999), of Impregilo, Gemina, Aeroporti di Roma and Consorzio Venezia Nuova (2000–2010). After having been vice president of Capitalia, at the moment of the merging with Unicredit, he was named president of Banca di Roma. Between 2000 and 2010, he was also a Board Member of RCS and Tim Italia.
Minister of Industry, Trade and Handicraft for the Ciampi Government (April 1993-April 1994), he was Head of the Department of the Communitarian Policies of the Presidency of the Council of Ministers, and Coordinator of the Technical Committee for the Lisbon Strategy, which prepared the draft of the Italian plan for Growth and Occupation, presented to the European Commission on 15 October 2005.
He also had several public offices in Italy and abroad, among which: member of the OECD Committee for the standardisation of financial statistics, and of the BIS Standing Committee on Eurodollars; President of the Technical-Scientific Council for Economic Planning, and of the Commission on Nuclear Energy in Italy.
In September 2010, he was appointed President of Fondo Interbancario di Tutela dei Depositi for the second time.
Professor emeritus of Economic Politics at the LUISS "Guido Carli" University, which he contributed to reform with Guido Carli during his office at Confindustria.
He founded and directed with Michele Fratianni the Open Economies Review, and he is at present the Scientific Editor of the following journals: Economia Italiana, Journal of European Economic History and Review of Economic Conditions in Italy.
He taught in the universities of Perugia, Rome Tor Vergata, and Scuola Superiore di Pubblica Amministrazione.
His favourite research topics are the international monetary system, the effects of the growth of the derivatives market on the efficacy of the economic policy, the gaps in productivity between Northern/Central Italy and Southern Italy. He is the author and co-author of several papers and books on the problems of the real, monetary and financial economy, and on methodological issues. Among his research, great relevance is attributed to the first econometric model of Italian economy M1BI, the first analyses on the international monetary base and Eurodollar, and on the macroeconomic effects of derivatives contracts, which have all anticipated in a systematic way the happening of the dramatic events experienced by the Italian and international economy in the last forty years.
Institutional career
After graduating from university, his career started by winning the competition to enter the Servizio Studi of Banca d'Italia (Bank of Italy). Here he worked together with the governors Guido Carli and Paolo Baffi. With Antonio Fazio, he directed the working group that created the first econometric model of the Italian economy, M1BI. He also attended courses at the Massachusetts Institute of Technology (MIT) in Cambridge (USA), where he met Franco Modigliani. Together with Michele Fratianni, he studied the International money creation. He specialised at the Board of Governors of the Federal Reserve in Washington.In 1976, Guido Carli became the President of Confindustria and asked Savona to follow him as General Director, a post that he kept until 1980.
In the following years, he became President of Credito Industriale Sardo (1980–1989), Secretary-General for Economic Planning at the Ministero del Bilancio (Ministry of Financial Balance – 1980-1982), Chief Executive Officer and then Managing Director of Banca Nazionale del Lavoro (1989–1990), President of Fondo Interbancario di Tutela dei Depositi (1990–1999), of Impregilo, Gemina, Aeroporti di Roma and Consorzio Venezia Nuova (2000–2010). After having been vice president of Capitalia, at the moment of the merging with Unicredit, he was named president of Banca di Roma. Between 2000 and 2010, he was also a Board Member of RCS and Tim Italia.
Minister of Industry, Trade and Handicraft for the Ciampi Government (April 1993-April 1994), he was Head of the Department of the Communitarian Policies of the Presidency of the Council of Ministers, and Coordinator of the Technical Committee for the Lisbon Strategy, which prepared the draft of the Italian plan for Growth and Occupation, presented to the European Commission on 15 October 2005.
He also had several public offices in Italy and abroad, among which: member of the OECD Committee for the standardisation of financial statistics, and of the BIS Standing Committee on Eurodollars; President of the Technical-Scientific Council for Economic Planning, and of the Commission on Nuclear Energy in Italy.
In September 2010, he was appointed President of Fondo Interbancario di Tutela dei Depositi for the second time.
Academic career
Academic dean of the Faculty of Political Science and International Relations, and director of the PhD in Geopolitics and Economic Geopolitics of the e-University Guglielmo Marconi, Rome.Professor emeritus of Economic Politics at the LUISS "Guido Carli" University, which he contributed to reform with Guido Carli during his office at Confindustria.
He founded and directed with Michele Fratianni the Open Economies Review, and he is at present the Scientific Editor of the following journals: Economia Italiana, Journal of European Economic History and Review of Economic Conditions in Italy.
He taught in the universities of Perugia, Rome Tor Vergata, and Scuola Superiore di Pubblica Amministrazione.
His favourite research topics are the international monetary system, the effects of the growth of the derivatives market on the efficacy of the economic policy, the gaps in productivity between Northern/Central Italy and Southern Italy. He is the author and co-author of several papers and books on the problems of the real, monetary and financial economy, and on methodological issues. Among his research, great relevance is attributed to the first econometric model of Italian economy M1BI, the first analyses on the international monetary base and Eurodollar, and on the macroeconomic effects of derivatives contracts, which have all anticipated in a systematic way the happening of the dramatic events experienced by the Italian and international economy in the last forty years.
Awards
Savona won the prize awarded by Associazione per il Progresso Economico in 1976, the Premio Capalbio 1998 in economy, the Premio IDI 1999 for the small and middle enterprise, the Premio Pisa 1999 for essay writing with the book Che cos'e' l'economia, the Premio Speciale 2000 for the sector 'Economy' as part of Premi della Cultura awarded by the Presidency of the Council of Ministers, the Premio 2008 in International economy awarded by Camera di Commercio di Genova, the Premio Scanno 2009 in economy, the VII Premio Donato Menichella 2009 for socio-economic studies, and the Premio Fata Morgana 2010 in economy and finance. He is Chinese Eisenhower Fellow of Taiwan.Works by Paolo Savona
- La liquidità internazionale: proposta per la ridefinizione del problema, Il Mulino, Bologna 1972 (with M. Fratianni)
- La Sovranità Monetaria, Buffetti Ed., Roma, 1974
- L'Italia al bivio: ristagno o sviluppo, (with Giorgio La Malfa and Enzo Grilli), Laterza Ed.,Roma 1985
- Eurodollars and International Banking, McMillan, Londra 1986 (with G. Sutija)
- Strategic Planning in International Banking, McMillan, Londra 1986 (with G. Sutija)
- Strutture finanziarie e sviluppo economico, Guerini Ass., Milano 1989
- World Trade: Monetary Order and Latina America, Mc Millan, Londrta 1990 (with G. Sutija)
- Il Terzo Capitalismo e la Società Aperta, Longanesi & C., Milano 1993
- Geoeconomia - Il dominio dello spazio economico, Franco Angeli, Milano 1995 (with Carlo Jean)
- L'Europa dai piedi d'argilla - Basi empiriche, fondamenti logici e conseguenze economiche dei parametri di Maastricht (in collaboration with Carlo Viviani), Libri Scheiwiller, Milano 1995
- Gli enigmi dell'economia. Come orientarsi nella scienza che condiziona la nostra vita, Mondadori Ed., Milano, 1996
- La disoccupazione e il terzo capitalismo: lavoro, finanza, tecnologia nell'era del mercato globale, interview by Gianni Pasquarelli, Sperling & Kupfer Editori, Milano 1997
- Inflazione, disoccupazione e crisi monetarie: come nascono, come si perpetuano e come si stroncano, Sperling & Kupfer Editori, Milano 1998
- Che cos'è l'economia, Sperling & Kupfer Editori, Milano 1999
- Alla ricerca della sovranità monetaria: breve storia della finanza straniera in Italia, Libri Scheiwiller - Collana Bianca Intesa, Milano 1999 e in edizione ridotta, Milano 2000
- Sovranità & ricchezza - Come riempire il vuoto politico della globalizzazione, Sperling & Kupfer Editori, 2001, 1st and 2nd edition (with Carlo Pelanda)
- Politica economica e new economy (with CD-ROM for practical exercices), McGraw-Hill Italia, Milano 2002
- Geopolitica economica. Globalizzazione, sviluppo e cooperazione, Sperling & Kupfer Editori, Milano 2004
- Sovranità & fiducia - Principi per una nuova architettura politica globale, Sperling & Kupfer Editori, Milano 2005 (with Carlo Pelanda)
- John Stuart Mill - Stuart Mill visto da Paolo Savona, Collana "I momenti d'oro dell'economia", Luiss University Press, Roma 2006
- Paolo Sylos Labini visto da Paolo Savona, Collana "I momenti d'oro dell'economia", Luiss University Press, Roma 2007
- L'Esprit d'Europe. Come recuperarlo riformando le istituzioni, Rubbettino Editore, Soveria Mannelli 2007
- I momenti d'oro dell'economia visti da Paolo Savona, Collana "I momenti d'oro dell'economia", Luiss University Press, Roma 2008
- Il governo dell'economia globale. Dalle politiche nazionali alla geopolitica: un manuale per il G8, Collana Formiche, Marsilio, Venezia 2009
- Il ritorno dello Stato padrone. I Fondi sovrani e il grande negoziato globale, Rubbettino Editore, Soveria Mannelli 2009 (with Patrizio Regola)
- Sugli effetti macroeconomici dei contratti derivati. Dieci lezioni, (with an English version), Luiss University Press, Roma 2010
- Charles P. Kindleberger visto da Paolo Savona, Collana "I momenti d'oro dell'economia", 2ª serie, Luiss University Press, Roma 2010
- Sviluppo, rischio e conti con l'esterno delle regioni italiane. Lo schema di analisi della "pentola bucata", Laterza, Roma-Bari 2010 (with Riccardo De Bonis and Zeno Rotondi, preface by Roberto Nicastro
- Intelligence economica - Il ciclo dell'informazione nell'era della globalizzazione, Quaderni della Fondazione ICSA, Rubbettino Editore, Soveria Mannelli 2011 (with Carlo Jean)
- Le radici storiche e i fondamenti logici delle considerazioni finali del Governatore Carli (nell'opera dal titolo Considerazioni finali della Banca d'Italia di Guido Carli), Volume 3, Treves Editore, Roma 2011
- Postfazioni alla ristampa dei volumi di Paolo Baffi "Studi sulla moneta" e "Nuovi studi sulla moneta", Rubbettino Editore, Soveria Mannelli 2011