The roots of success: industrial growth in Italy reconsidered, 1911-1951
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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- 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 "Marco Biagi".
- Barbara Pistoresi & Alberto Rinaldi, 2011. "Exports and Italy’s economic development: a long-run perspective (1863-2004)," Department of Economics 0655, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
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"Spurious growth in German output data, 1913 1938,"
European Review of Economic History,
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