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Long Run Loans and Industrial Policy in Italy in the 1960s

  • Rota, Mauro

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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File URL: http://mpra.ub.uni-muenchen.de/17189/1/MPRA_paper_17189.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17189.

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Date of creation: Sep 2009
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Handle: RePEc:pra:mprapa:17189
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  1. Rajan, Raghuram G & Zingales, Luigi, 1998. "Financial Dependence and Growth," American Economic Review, American Economic Association, vol. 88(3), pages 559-86, June.
  2. Pavitt, Keith, 1984. "Sectoral patterns of technical change: Towards a taxonomy and a theory," Research Policy, Elsevier, vol. 13(6), pages 343-373, December.
  3. King, Robert G. & Levine, Ross, 1993. "Finance and growth : Schumpeter might be right," Policy Research Working Paper Series 1083, The World Bank.
  4. repec:fth:wobaco:1083 is not listed on IDEAS
  5. Boltho, Andrea & Carlin, Wendy & Scaramozzino, Pasquale, 1996. "Will East Germany Become a New Mezzogiorno?," CEPR Discussion Papers 1256, C.E.P.R. Discussion Papers.
  6. Klaus Desmet, 2002. "A Simple Dynamic Model of Uneven Development and Overtaking," Economic Journal, Royal Economic Society, vol. 112(482), pages 894-918, October.
  7. Boltho, Andrea, 1989. "Did policy activism work?," European Economic Review, Elsevier, vol. 33(9), pages 1709-1726, December.
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