Advanced Search
MyIDEAS: Login

When did modernization begin? Italy's industrial growth reconsidered in light of new value-added series, 1911–1951

Contents:

Author Info

  • Felice, Emanuele
  • Carreras, Albert

Abstract

The article reconsiders the growth of Italian industry from the First World War to the eve of the economic miracle, with the aid of sector-specific new value-added series, at three different price-bases. The new estimates reduce growth during the First World War, making the Italian case comparable to the other belligerent countries, while improving the performance of the 1920s. The 1929 crisis looks more profound than before, but the recovery after 1933 is now stronger. During the 1920s and the 1930s, a significant shift from traditional to more advanced activities took place, and the cycles of consumption related industries grew in importance: after linking the available estimates with those produced by Fenoaltea for liberal Italy, both descriptive statistics and cointegration analysis suggest that some of these movements began with the turn of the previous century, a finding in line with institutional interpretations of Italy's economic growth. When confronted with the rest of Europe, in industrial production Italy's first half of the twentieth century was a relative success, which laid the ground for the following economic boom.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/pii/S0014498312000435
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal Explorations in Economic History.

Volume (Year): 49 (2012)
Issue (Month): 4 ()
Pages: 443-460

as in new window
Handle: RePEc:eee:exehis:v:49:y:2012:i:4:p:443-460

Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622830

Related research

Keywords: Italy; Industry; National accounts; World war I; 1929 crisis; World war II;

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Malanima Paolo, 2006. "Alle origini della crescita in Italia 1820-1913," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 307-330.
  2. John W. Kendrick, 1961. "Productivity Trends in the United States," NBER Books, National Bureau of Economic Research, Inc, number kend61-1, October.
  3. repec:psl:pslqrr:2010:4 is not listed on IDEAS
  4. Jeffrey G. Williamson, 2011. "Industrial Catching Up in the Poor Periphery 1870-1975," NBER Working Papers 16809, National Bureau of Economic Research, Inc.
  5. Fenoaltea Stefano & Ciccarelli Carlo, 2008. "The Chemicals, Coal and Petroleum Products, and Rubber Industries in Italy's Regions, 1861-1913: Time-Series Estimates," Rivista di storia economica, Società editrice il Mulino, issue 1, pages 3-58.
  6. Fenoaltea,Stefano, 2014. "The Reinterpretation of Italian Economic History," Cambridge Books, Cambridge University Press, number 9781107658080, October.
  7. Felice Emanuele & Carreras Albert, 2010. "L'industria italiana dal 1911 al 1938: ricostruzione della serie del valore aggiunto e interpretazioni," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 285-334.
  8. Crafts, Nicolas & Magnani, Marco, 2011. "The Golden Age and the Second Globalization in Italy," CAGE Online Working Paper Series 61, Competitive Advantage in the Global Economy (CAGE).
  9. Stock, James H & Watson, Mark W, 1993. "A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems," Econometrica, Econometric Society, vol. 61(4), pages 783-820, July.
  10. repec:cge:warwcg:60 is not listed on IDEAS
  11. Stephen Broadberry & Claire Giordano & Francesco Zollino, 2011. "A Sectoral Analysis of Italy's Development, 1861-2011," Quaderni di storia economica (Economic History Working Papers) 20, Bank of Italy, Economic Research and International Relations Area.
  12. Cha, Myung Soo & Kim, Nak Nyeon, 2012. "Korea's first industrial revolution, 1911–1940," Explorations in Economic History, Elsevier, vol. 49(1), pages 60-74.
  13. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
  14. Dormois, Jean-Pierre, 2004. "Episodes in catching-up: Anglo-French industrial productivity differentials in 1930," European Review of Economic History, Cambridge University Press, vol. 8(03), pages 337-373, December.
  15. Fenoaltea, Stefano, 2005. "The growth of the Italian economy, 1861 1913: Preliminary second-generation estimates," European Review of Economic History, Cambridge University Press, vol. 9(03), pages 273-312, December.
  16. Prados de la Escosura, Leandro, 2000. "International Comparisons of Real Product, 1820-1990: An Alternative Data Set," Explorations in Economic History, Elsevier, vol. 37(1), pages 1-41, January.
  17. Williamson, Jeffrey G, 2011. "Industrial Catching Up in the Poor Periphery 1870-1975," CEPR Discussion Papers 8335, C.E.P.R. Discussion Papers.
  18. Scherner, Jonas, 2010. "Nazi Germany's preparation for war: evidence from revised industrial investment series," European Review of Economic History, Cambridge University Press, vol. 14(03), pages 433-468, December.
  19. Fenoaltea, Stefano, 1988. "International resource flows and construction movements in the atlantic economy: the kuznets cycle in Italy, 1861–1913," The Journal of Economic History, Cambridge University Press, vol. 48(03), pages 605-637, September.
  20. Jon S. Cohen, 1972. "The 1927 Revaluation of the Lira: a Study in Political Economy," Economic History Review, Economic History Society, vol. 25(4), pages 642-654, November.
  21. Crafts, Nicholas, 2012. "British relative economic decline revisited: The role of competition," Explorations in Economic History, Elsevier, vol. 49(1), pages 17-29.
  22. Mattesini, Fabrizio & Quintieri, Beniamino, 1997. "Italy and the Great Depression: An Analysis of the Italian Economy, 1929-1936," Explorations in Economic History, Elsevier, vol. 34(3), pages 265-294, July.
  23. Ritschl, Albrecht, 2004. "Spurious growth in German output data, 1913 1938," European Review of Economic History, Cambridge University Press, vol. 8(02), pages 201-223, August.
  24. Fenoaltea Stefano & Ciccarelli Carlo, 2010. "Metalmaking in Italy, 1861-1913: National and Regional Time Series," Rivista di storia economica, Società editrice il Mulino, issue 1, pages 121-154.
  25. Andrea Brandolini & Giovanni Vecchi, 2011. "The Well-Being of Italians: A Comparative Historical Approach," Quaderni di storia economica (Economic History Working Papers) 19, Bank of Italy, Economic Research and International Relations Area.
  26. Gerschenkron, Alexander, 1955. "Notes on the Rate of Industrial Growth in Italy, 1881–1913," The Journal of Economic History, Cambridge University Press, vol. 15(04), pages 360-375, December.
  27. Tattara, Giuseppe & Toniolo, Giovanni, 1976. "L'industria manifatturiera: cicli, politiche e mutamenti di struttura (1921-1937)
    [Manufacturing in Italy: business cycle, politics, structural change (1921-1937)]
    ," MPRA Paper 39090, University Library of Munich, Germany.
  28. Alberto Baffigi, 2011. "Italian National Accounts, 1861-2011," Quaderni di storia economica (Economic History Working Papers) 18, Bank of Italy, Economic Research and International Relations Area.
  29. Fenoaltea, Stefano, 2003. "Notes on the Rate of Industrial Growth in Italy, 1861 1913," The Journal of Economic History, Cambridge University Press, vol. 63(03), pages 695-735, September.
  30. repec:cge:warwcg:61 is not listed on IDEAS
  31. Federico Giovanni, 2003. "Le nuove stime della produzione agricola italiana, 1860-1910: primi risultati e implicazioni," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 359-382.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Emanuele Felice & Giovanni Vecchi, 2013. "Italy’s Growth and Decline, 1861-2011," CEIS Research Paper 293, Tor Vergata University, CEIS, revised 11 Oct 2013.
  2. 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.
  3. Emanuele Felice & Josep Pujol Andreu, 2013. "GDP and life expectancy in Italy and Spain over the long-run (1861-2008): insights from a time-series approach," UHE Working papers 2013_06, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:exehis:v:49:y:2012:i:4:p:443-460. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.