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On the cyclical variability of economic growth in Italy, 1881–1913: a critical note

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Author Info

  • Lisa Sella

    ()
    (University of Torino, Torino, Italy)

  • Roberto Marchionatti

    ()
    (Ceris-CNR, Moncalieri, Italy)

Abstract

Since the 1950s, beginning with Gerschenkron’s classic article, a great number of studies have examined Italy’s economic growth in the post-Unification period; and the quantitative evidence has been much improved, particularly by Fenoaltea. However, the cyclical variability of the Italian economy in the sub-period 1893–1913 is low, and apparently underestimated, in Fenoaltea’s reconstruction, whereas it was emphasized in the neglected qualitative–quantitative analyses conducted by Luigi Einaudi and his colleagues of the Turin school in the early twentieth century. This paper uses various advanced spectral methods to reconsider Italian economic growth and cycles in the post-Unification period, detecting in Italian GDP a significant structure which closely matches the Einaudians’ account of Italian development in the period 1881–1913.

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File URL: http://dx.doi.org/10.1007/s11698-011-0075-2
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Bibliographic Info

Article provided by Association Française de Cliométrie (AFC) in its journal Cliometrica, Journal of Historical Economics and Econometric History.

Volume (Year): 6 (2012)
Issue (Month): 3 (October)
Pages: 307-328

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Handle: RePEc:afc:cliome:v:6:y:2012:i:3:p:307-328

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Web page: http://www.cliometrie.org
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Related research

Keywords: Economic growth; Business cycles; Italian economic history; Luigi Einaudi; Spectral methods;

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Cited by:
  1. Makiko Hino & Mototsugu Fukushige, 2014. "Catching up and falling behind in technological progress: the experience of the textile and chemical industries in Italy between 1904 and 1937," Discussion Papers in Economics and Business 14-14, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
  2. Giovanni Federico & Antonio Tena Junguito, 2013. "The ripples of the Industrial revolution: exports, economic growth and regional integration in Italy in the early 19th century," Working Papers in Economic History wp13-02, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
  3. Riccardo De Bonis & Andrea Silvestrini, 2013. "The Italian financial cycle: 1861-2011," Temi di discussione (Economic working papers) 936, Bank of Italy, Economic Research and International Relations Area.

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