The Italian stock market in the postwar period

Abstract

The article examines the ups and downs of the Italian stock market from the end  of the war to the present period, relating them to the general economic developments, of which the stock market is a part, and in the long run, a measure. The author divides this period into two sub-periods: the immediate post-war years and the subsequent period that followed. In the first of these sub-periods the stock market was subjected to extremely violent forces from opposite directions, and in consequence oscillated violently in both directions. In the second sub-period the market returned to normal, first consolidating its position at the new post-devaluation levels and subsequently resuming its upward movement parallel with the expansion of the economy. The author concludes the analysis by providing some prospects for the future.

JEL: G10, N14, O11, O16