Italy and the first age of Globalization, 1861-1940
AbstractThe paper presents trade policy as in line with that of other continental European powers, with a move to moderate levels of tariff protection for politically sensitive sectors such as steel and textiles and clothing, but also in agriculture, with levels of protection falling slightly before the First World War. Monetary policy was similarly driven by the constraints of capital scarcity, and by the political priority attached to reducing the cost of funding government debt. The most innovative area was probably in industrial policy, where after the 1880s and again in the 1930s in response to severe shocks, quite creative institutional policies were adopted. In particular financial restructuring was used as an opportunity to reshape the structure of industry.
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Bibliographic InfoPaper provided by Economics Group, Nuffield College, University of Oxford in its series Oxford University Economic and Social History Series with number _094.
Length: 39 pages
Date of creation: 20 Feb 2012
Date of revision:
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Web page: http://www.nuff.ox.ac.uk/economics/
Comparative Economic History; Industrial Policy; Monetary Policy; Monetary Regime; Trade Policy.;
Other versions of this item:
- Harold James & Kevin H. O'Rourke, 2011. "Italy and the first age of globalization, 1861-1940," Quaderni di storia economica (Economic History Working Papers) 16, Bank of Italy, Economic Research and International Relations Area.
- Kevin HjortshÃ¸j O'Rourke & Harold James, 2012. "Italy and the First Age of Globalization, 1861-1940," Economics Series Working Papers Number 94, University of Oxford, Department of Economics.
- N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
- N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
- 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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