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The roots of success: industrial growth in Italy reconsidered, 1911-1951

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Author Info

  • Emanuele Felice

    (Unitat d'Història Econòmica, Departament d'Economia i d'Història Econòmica, Universitat Autònoma de Barcelona)

  • Albert Carreras

    (Departament d'Economia i Empresa, Universitat Pompeu Fabra)

Abstract

This 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 Info

Paper 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.

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Length: 43 pages
Date of creation: May 2012
Date of revision:
Handle: RePEc:aub:uhewps:2012_04

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Keywords: Italy; industry; national accounts; world war I; 1929 crisis; world war II;

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References

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  1. Jeffrey G. Williamson, 2011. "Industrial Catching Up in the Poor Periphery 1870-1975," NBER Working Papers 16809, National Bureau of Economic Research, Inc.
  2. Giovanni Federico & Michelangelo Vasta, 2009. "Was industrialization an escape from the commodity lottery? Evidence from Italy, 1861-1940," Department of Economics University of Siena 573, Department of Economics, University of Siena.
  3. Ritschl, Albrecht, 2004. "Spurious Growth in German Output Data, 1913-1938," CEPR Discussion Papers 4429, C.E.P.R. Discussion Papers.
  4. Carreras Albert & Felice Emanuele, 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.
  5. Barbara Pistoresi & Alberto Rinaldi, 2011. "Exports and Italy’s economic development: a long-run perspective (1863-2004)," Center for Economic Research (RECent) 061, University of Modena and Reggio E., Dept. of Economics.
  6. 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.
  7. 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.
  8. Fenoaltea, Stefano, 1969. "Public Policy and Italian Industrial Development, 1861–1913," The Journal of Economic History, Cambridge University Press, vol. 29(01), pages 176-179, March.
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Cited by:
  1. Emanuele Felice & Giovanni Vecchi, 2012. "Italy’s Modern Economic Growth, 1861-2011," Department of Economics University of Siena 663, Department of Economics, University of Siena.

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