Integration and development of the Italian economy, 1951-1971: a re-examination

Abstract

The work represents a re-examination of the development of the Italian economy over the 20 year period from 1951 to 1971. The author first addresses cyclical versus structural interpretations. Analysis of the three main phases of the economy’s development since World War II is then provided. The first phase is 1951-58, when development factors were largely of domestic origin. The second phase is 1959-63, the years characterised by rapid integration and growth. The third phase is 1964-71, the years of the “rationalisation” of production, as well as when growth seemed less certain and more blatantly contradictory. Looking at the entire period under consideration, one may find a unifying factor in the absence of a policy constantly aimed at managing the development process.

JEL: O11, N14, E32