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The value-added of service industry 1861-1951: the new series at current prices and first interpretations

Author

Listed:
  • Patrizia Battilani

    (Universit� degli studi di Bologna)

  • Emanuele Felice

    (Universitat Aut�noma de Barcelona)

  • Vera Zamagni

    (Universit� degli studi di Bologna)

Abstract

This paper presents the new yearly series of the value-added of services for Italy, from 1861 to 1951, at current prices. For each sector, after discussing sources and methodology, the results are compared with the early Istat (1957) series. By looking at the production value of specific activities, it is possible to reveal the strong underestimation of the early series. From 1861 to 1911, our new estimate is consistently higher: the gap increases while the Italian economy grows strongly, which may lead to a more favourable evaluation of the contribution of services to the industrialization of the country. Between 1911 and 1938, our series is more cyclical, performing better in the twenties, worse during the 1929 crisis, but then again showing faster recovery in the 1930s. Finally, the changes between 1938 and 1951 are essentially due to the heavy underestimation of services found in the early series for 1951.

Suggested Citation

  • Patrizia Battilani & Emanuele Felice & Vera Zamagni, 2014. "The value-added of service industry 1861-1951: the new series at current prices and first interpretations," Quaderni di storia economica (Economic History Working Papers) 33, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:workqs:qse_33
    as

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    References listed on IDEAS

    as
    1. 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).
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    More about this item

    Keywords

    Italy; National accounts; Services; Historical data reconstruction;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913
    • N74 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: 1913-

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