The roots of success: industrial growth in Italy reconsidered, 1911-1951
AbstractThis 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, while the recovery after 1933 is now stronger. During the 1920s and the 1930s, a significant shift from traditional to more advanced activities took place: when confronted with the rest of Europe, the interwar period was a relative success, which laid the ground for the following economic boom.
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Bibliographic InfoPaper provided by Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica in its series UHE Working papers with number 2012_04.
Length: 43 pages
Date of creation: May 2012
Date of revision:
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More information through EDIRC
Italy; industry; national accounts; world war I; 1929 crisis; world war II;
Find related papers by JEL classification:
- N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
- N64 - Economic History - - Manufacturing and Construction - - - Europe: 1913-
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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