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The roots of success: industrial growth in Italy reconsidered, 1911-1951

Emanuele Felice and Albert Carreras

No 2012_04, UHE Working papers from Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica

Abstract: 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.

Keywords: Italy; industry; national accounts; world war I; 1929 crisis; world war II (search for similar items in EconPapers)
JEL-codes: N14 N64 O14 O47 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2012-05
New Economics Papers: this item is included in nep-his
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