The decree law of 6 December 2011  The decree law reduces net borrowing by € billion in 2012, € billion in 2013 and € billion in 2014. In relation to GDP, the adjustment is equal to 1.3 percentage points in each year.
First, domestic R&D can have a direct positive impact on the productivity of indigenous firms. Second, there is evidence of positive spillovers and technology transfers from R&D active multinationals to domestic producers.