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Italy is a unitary parliamentary republic in Europe. Italy is also known as Italian Republic. The capital city of Italy is Rome. Currency of Italy is Euro. Located in the heart of the Mediterranean Sea, Italy shares open land borders with France, Greece, Spain, Turkey, Romania, Austria, Tunisia, Germany Switzerland, Slovenia, San Marino and Poland.
Italy is located in southern Europe and comprises the long, boot-shaped Italian Peninsula, the southern side of Alps. The islands of Italy are Capri, Isola dischia, Elba, Agadian, Ustica, maddalena, Aeolian, Sicily and Sardinia.
Italy is the 4th-largest national economy in Europe, the 8th-largest by nominal GDP in the world, and the 12th-largest by GDP (PPP). It is also eighth largest exporter in the world. Italy is in 10th position for R&D investments with 1.26% of GDP, despite brain drain. The Italian research is able to maintain high standards of quality and elevated quantity despite reduced investment. That seems like a positive development at first glance, but is potentially alarming when thinking about the stability of the system itself and its already weak capacity to influence the economic ecosystem i.e. where only just over 1% of GDP is directed towards R&D, there are about five researchers for every 1,000 people employed in the field (OECD data). The country is pioneer in advanced research in Mathematical and computer sciences, Physical sciences, Chemical sciences, Earth sciences, Biological sciences, Medical sciences, Agrarian and veterinary sciences, Civil engineering and architecture, Industrial and information engineering, Antiquity, philological-literary and historico-artistic sciences, Historic, philosophical, pedagogical and psychological sciences, Legal sciences, Economic sciences and statistics and Political and social sciences with the support of European Research Council (ERC), which is a research body created to support frontier research.
In Physics, Riccardo Giacconi was awarded a share of the Nobel Prize in Physics in 2002 “for pioneering contributions to astrophysics, which have led to the discovery of cosmic X-ray sources”. Numerous physics journals are published from Italy with good reputation. Several leading Institution in the country including Scuola Superiore Sant'Anna, University of Bologna, University of Milano – Bicocca, University of Verona and Ca' Foscari University of Venice.