Long Run Loans and Industrial Policy in Italy in the 1960s
In the II postwar phase of intensive growth, Italian policy makers, controlling banking system, used credit deepening as the leading instrument for policy targets: the industrialization of the country and reduction of regional disparities. This work presents a reconstruction of territorial long run loans to the manufacturing industries, outlining some aspects of the Italian development path summarized by a strategy of industrialization which was different across areas and branches. Moreover, it suggests a positive effect of credit deepening on product per worker in a cross section time series analysis, looking at eleven branches of manufacturing industries in the two Italian macro-regions: the Centre-North and the Mezzogiorno.
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