The world economy has been going through two main changes over the last fifteen years: globalization and the ICT-based revolution. Italy has only partially responded to the new global scenario. The first results of a survey conducted by the Bank of Italy on the structural transformations of the Italian industry show that, over the last five-six years, Italian enterprises have introduced some innovating elements in the fields of technology, organization and localization, in order to face the changing competition environment worldwide. The scenario still looks uncertain. Italian structural policies ought to be updated and adapted to the new global context, through the liberalization of protected markets, adjustments in the financial structure and a revolution of juridical and administrative culture.