Italy and the first age of globalization, 1861-1940

Harold James and Kevin O'Rourke

No 16, Quaderni di storia economica (Economic History Working Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: The paper presents trade policy as in line with that of other continental European powers, with a move to moderate levels of tariff protection for politically sensitive sectors such as steel and textiles and clothing, but also in agriculture, with levels of protection falling slightly before the First World War. Monetary policy was similarly driven by the constraints of capital scarcity, and by the political priority attached to reducing the cost of funding government debt. The most innovative area was probably in industrial policy, where after the 1880s and again in the 1930s in response to sever shocks, quite creative institutional policies were adopted. In particular financial restructuring was used as an opportunity to reshape the structure of industry.

Keywords: Comparative Economic History; Industrial Policy; Monetary Policy; Monetary Regime; Trade Policy (search for similar items in EconPapers)
JEL-codes: N23 N24 N73 N74 (search for similar items in EconPapers)
Date: 2011-10
New Economics Papers: this item is included in nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Related works:
Working Paper: Italy and the First Age of Globalization, 1861-1940 (2012)
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