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From Public to Private: Privatization in 1920's Fascist Italy

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  • Germa Bel

Abstract

Italy’s first Fascist government applied a large-scale privatization policy between 1922 and 1925. The government privatized the state monopoly of match sale, eliminated the State monopoly on life insurances, sold most of the State-owned telephone networks and services to private firms, reprivatized the largest metal machinery producer, and awarded concessions to private firms to build and operate motorways. While ideological considerations may have had a certain influence, privatization was used mainly as a political tool to build confidence among industrialists and to increase support for the government and the Partito Nazionale Fascista. Privatization also contributed to balancing the budget, which was the core objective of Fascist economic policy in its first phase.

Suggested Citation

  • Germa Bel, 2009. "From Public to Private: Privatization in 1920's Fascist Italy," RSCAS Working Papers 2009/46, European University Institute.
  • Handle: RePEc:rsc:rsceui:2009/46
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    References listed on IDEAS

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    1. Wallsten, Scott, 2005. "Returning to Victorian Competition, Ownership, and Regulation: An Empirical Study of European Telecommunications at the Turn of the Twentieth Century," The Journal of Economic History, Cambridge University Press, vol. 65(03), pages 693-722, September.
    2. Josef C. Brada, 1996. "Privatization Is Transition--Or Is It?," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 67-86, Spring.
    3. Bruno Biais & Enrico Perotti, 2002. "Machiavellian Privatization," American Economic Review, American Economic Association, vol. 92(1), pages 240-258, March.
    4. Perotti, Enrico C, 1995. "Credible Privatization," American Economic Review, American Economic Association, vol. 85(4), pages 847-859, September.
    5. Megginson, William Leon, 2005. "The Financial Economics of Privatization," OUP Catalogue, Oxford University Press, number 9780195150629.
    6. Jeffry M. Netter & William L. Megginson, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June.
    7. Kay, J A & Thompson, D J, 1986. "Privatisation: A Policy in Search of a Rationale," Economic Journal, Royal Economic Society, vol. 96(381), pages 18-32, March.
    8. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, January.
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    Keywords

    Privatization; Public Enterprise; Government; Fascist Economy; Italy;

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