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Italy’s Growth and Decline, 1861-2011

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  • Emanuele Felice

    ()
    (Universitat Autònoma de Barcelona)

  • Giovanni Vecchi

    ()
    (University of Rome "Tor Vergata")

Abstract

With the end of the celebrations marking the 150th anniversary of the unification of Italy, the availability of a large body of new historical statistical data calls for a redefinition of the features of Italian economic growth. The paper presents new estimates – at both national and regional level – of Italy’s GDP from 1861 to 2011; we discuss their interpretation in the light of the changes in the institutions, in technological regimes and in the broader international context. In contrast with its successful long-term performance, Italy’s economic growth has slackened since the 1990s and has now come to a halt. The paper deals with the question of whether fears that the country is on the road to economic decline are grounded. The answer is an affirmative one. Part of the problem is southern Italy’s inability to converge towards the more virtuous part of the country.

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File URL: ftp://www.ceistorvergata.it/repec/rpaper/RP293.pdf
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Bibliographic Info

Paper provided by Tor Vergata University, CEIS in its series CEIS Research Paper with number 293.

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Length: 51 pages
Date of creation: 11 Oct 2013
Date of revision: 11 Oct 2013
Handle: RePEc:rtv:ceisrp:293

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Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma
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Related research

Keywords: Italy; economic decline; modern economic growth; questione meridionale; GDP;

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References

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  1. Harold James & Kevin H. O’Rourke, 2012. "Italy and the first age of Globalization, 1861-1940," Oxford University Economic and Social History Series, Economics Group, Nuffield College, University of Oxford _094, Economics Group, Nuffield College, University of Oxford.
  2. Huberman, Michael, 2004. "Working Hours of the World Unite? New International Evidence of Worktime, 1870 1913," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 64(04), pages 964-1001, December.
  3. Emanuele Felice & Michelangelo Vasta, 2012. "Passive Modernization? The New Human Development Index and Its Components in Italy’s Regions (1871-2007)," UHE Working papers 2012_10, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.
  4. Rosés, Joan Ramón & Martínez-Galarraga, Julio & Tirado, Daniel A., 2010. "The upswing of regional income inequality in Spain (1860-1930)," Explorations in Economic History, Elsevier, Elsevier, vol. 47(2), pages 244-257, April.
  5. Broadberry,Stephen & O'Rourke,Kevin H., 2010. "The Cambridge Economic History of Modern Europe," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521882033.
  6. Barca, Fabrizio & Trento, Sandro, 1997. "State Ownership and the Evolution of Italian Corporate Governance," Industrial and Corporate Change, Oxford University Press, vol. 6(3), pages 533-59, September.
  7. Allen,Robert C., 2009. "The British Industrial Revolution in Global Perspective," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521868273.
  8. Vittorio Daniele & Paolo Malanima, 2007. "Il prodotto delle regioni e il divario Nord-Sud in Italia (1861-2004)," Rivista di Politica Economica, SIPI Spa, SIPI Spa, vol. 97(2), pages 267-316, March-Apr.
  9. Feinstein, Charles H. & Temin, Peter & Toniolo, Gianni, 2008. "The World Economy between the World Wars," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780195307559, October.
  10. Mattesini, Fabrizio & Quintieri, Beniamino, 1997. "Italy and the Great Depression: An Analysis of the Italian Economy, 1929-1936," Explorations in Economic History, Elsevier, Elsevier, vol. 34(3), pages 265-294, July.
  11. Felice E., 2002. "Le politiche economiche regionali in Italia e nel Regno Unito (1950-1989)," Rivista economica del Mezzogiorno, Società editrice il Mulino, Società editrice il Mulino, issue 1-2, pages 175-238.
  12. Federico, Giovanni & Tena, Antonio, 1998. "Was Italy a protectionist country?," European Review of Economic History, Cambridge University Press, Cambridge University Press, vol. 2(01), pages 73-97, April.
  13. Giovanni Federico, 1996. "Italy, 1860-1940: a little-known success story," Economic History Review, Economic History Society, Economic History Society, vol. 49(4), pages 764-786, November.
  14. Virginia Di Nino & Barry Eichengreen & Massimo Sbracia, 2011. "Real Exchange Rates, Trade, and Growth: Italy 1861-2011," Quaderni di storia economica (Economic History Working Papers), Bank of Italy, Economic Research and International Relations Area 10, Bank of Italy, Economic Research and International Relations Area.
  15. Felice, Emanuele & Carreras, Albert, 2012. "When did modernization begin? Italy's industrial growth reconsidered in light of new value-added series, 1911–1951," Explorations in Economic History, Elsevier, Elsevier, vol. 49(4), pages 443-460.
  16. Barbara Pistoresi & Alberto Rinaldi, 2010. "Exports,growth and causality. New evidence on Italy: 1863-2004," Department of Economics, University of Modena and Reggio E., Faculty of Economics "Marco Biagi" 0633, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
  17. Gerschenkron, Alexander, 1955. "Notes on the Rate of Industrial Growth in Italy, 1881–1913," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 15(04), pages 360-375, December.
  18. 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, Società editrice il Mulino, issue 3, pages 285-334.
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Citations

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Cited by:
  1. 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.
  2. Felice, Emanuele, 2014. "Il Mezzogiorno fra storia e pubblicistica. Una replica a Daniele e Malanima
    [Southern Italy between history and journalistic books. A reply to Daniele and Malanima]
    ," MPRA Paper 55830, University Library of Munich, Germany.
  3. Emanuele Felice, 2013. "Regional income inequality in Italy in the long run (1871–2001). Patterns and determinants," UHE Working papers 2013_08, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.

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