On the cyclical variability of economic growth in Italy, 1881–1913: a critical note
AbstractSince 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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Bibliographic InfoArticle 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)
Economic growth; Business cycles; Italian economic history; Luigi Einaudi; Spectral methods;
Find related papers by JEL classification:
- B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
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- 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.
- 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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