This book, first published in 1990, examines Italy's economic history from its Unification in 1850 to the end of the First World War. Particular attention is paid to the extent to which Italy exhibits the features of Kaznets's model of 'modern economic growth'. An Economic History of Liberal Italy begins with a quantitative assessment of Italy's long-term growth in this period. All of the main relevant variables - including production, consumption, investment, foreign trade, government spending, and welfare - are discussed. The book proceeds through a chronological account of the developments of the economy during this period, and concludes with a critical survey of the relevant historiography. Throughout the book emphasis is given to structural changes, to developments in the main industries, to the relations between different sectors of the economy, and to economic policies. This book is ideal for those studying economics of Italian history.

Contents:
1. Introduction Richard Sylla and Gianni Toniolo Part I 2. Substitution for Prerequisites: Endigenous Institutions and Comparative Economic History C. Knick Harley, University of Western Ontario 3. The Role of Banks Richard Sylla 4. The Role of the State in Promoting Economic Development: The Russian Case and its General Implications Paul R. Gregory, University of Houston 5. Europe in an American Mirror: Reflections on Industrialization and Ideology William N. Parker, Yale University Part II 6. Britain N.F.R. Crafts, University of Warwick, S.J.Leybourne, University of Leeds and T.C. Mills, City University Business School 7. France Maurice Levy-Leboyer and Michel Lescure, University of Paris, Nanterre 8. Germany Richard Tilly, Universitat Munster 9. Italy Giovanni Federico, Universita di Pisa and Gianni Toniolo 10. Austria-Hungary David Good, University of Minnesota 11. Russia Olga Crisp, University of London Part III: On the Methodology of Economic History 12. Kinks, Tools, Spurts and Substitutes: Gerschenkron's Rhetoric of Relative Backwardness Donald N. McCloskey, University of Iowa

This book, first published in 1990, examines Italy's economic history from its Unification in 1850 to the end of the First World War. Particular attention is paid to the extent to which Italy exhibits the features of Kaznets's model of 'modern economic growth'. An Economic History of Liberal Italy begins with a quantitative assessment of Italy's long-term growth in this period. All of the main relevant variables - including production, consumption, investment, foreign trade, government spending, and welfare - are discussed. The book proceeds through a chronological account of the developments of the economy during this period, and concludes with a critical survey of the relevant historiography. Throughout the book emphasis is given to structural changes, to developments in the main industries, to the relations between different sectors of the economy, and to economic policies. This book is ideal for those studying economics of Italian history.

Carlo Bastasin and Gianni Toniolo provide a much-needed, up-to-date economic history of Italy from unification in 1861 to the present day. They show how, thirty years after unification, Italy began a long phase of convergence with more advanced economies so that by the late twentieth century Italy's per capita income reached the levels of Germany, France and the UK. From the mid-1990s, however, the Italian economy declined first in relative and then absolute terms. The authors describe the intertwined financial and institutional crises that eroded trust in the political system and in the economy at the exact juncture when new technologies and markets transformed the global economy. Longstanding problems of uneven levels of education and obsolete bureaucratic and judicial practices deepened the division between economically vibrant regions and the rest, causing polarization, political instability and rising public debt. Italy's contemporary malaise makes the country a test-case for understanding the implications of protracted declines in productivity and the flattening of GDP growth for the stability of western democracies, resulting in populism, mistrust and political instability.

This book explores the past and future of central bank cooperation. In today s global economy, the cooperation between central banks is a key element in maintaining or restoring monetary and financial stability, thereby ensuring a smooth functioning of the international financial system. Or is it? In this book, economists, historians, and political scientists look back at the experience of central bank cooperation during the past century at its goals, nature, and processes and at its successes and failures and draw lessons for the future. Particular attention is devoted to the role played by central bank cooperation in the formulation of minimum capital standards for internationally active banks (the Basel Capital Accord, Basel II), and in the process of European monetary unification and the introduction of the euro.

This book explores the past and future of central bank cooperation. In today's global economy, the cooperation between central banks is a key element in maintaining or restoring monetary and financial stability, thereby ensuring a smooth functioning of the international financial system. Or is it? In this book, economists, historians, and political scientists look back at the experience of central bank cooperation during the past century - at its goals, nature, and processes and at its successes and failures - and draw lessons for the future. Particular attention is devoted to the role played by central bank cooperation in the formulation of minimum capital standards for internationally active banks (the Basel Capital Accord, Basel II), and in the process of European monetary unification and the introduction of the euro.

This book covers the history of the Bank for International Settlements (BIS), the first-born among the international economic institutions, from its founding in Basel in 1930 to the end of the Bretton Woods system in 1973. The first chapters explore the foundation of the BIS, its role in the financial crisis of 1931, the London economic conference of 1933, and in following years when central bank cooperation was mostly reduced to technical matters. Considerable attention is devoted to the much criticized activity of the BIS during World War II. The book then deals with the intensive central bank cooperation from the recreation of Europe's multilateral payments in the 1950s and for the support of the Bretton Woods system in the 1960s. The last chapter is devoted to the involvement of central banks in the first timid steps towards European monetary unification and to the eurodollar market.

This volume revisits the topic of postwar growth armed not only with new theoretical ideas, but also with the experience of the 1980s. Chapters cover Belgium, Denmark, Germany, Spain, France, Ireland, Italy, The Netherlands, Portugal, Sweden, and the UK.

This Oxford Handbook provides a fresh overall view and interpretation of the modern economic growth of one of the largest European countries, whose economic history is less known internationally than that of other comparably large and successful economies. It will provide, for the first time, a comprehensive, quantitative "new economic history" of Italy.
The handbook offers an interpretation of the main successes and failures of the Italian economy at a macro level, the research--conducted by a large international team of scholars --contains entirely new quantitative results and interpretations, spanning the entire 150-year period since the unification of Italy, on a large number of issues. By providing a comprehensive view of the successes and failures of Italian firms, workers, and policy makers in responding to the challenges of the international business cycle, the book crucially shapes relevant questions on the reasons for the current unsatisfactory response of the Italian economy to the ongoing "second globalization." Most chapters of the handbook are co-authored by both an Italian and a foreign scholar.

This book covers the history of the Bank for International Settlements (BIS), the first-born among the international economic institutions, from its founding in Basel in 1930 to the end of the Bretton Woods system in 1973. The first chapters explore the foundation of the BIS, its role in the financial crisis of 1931, the London economic conference of 1933, and in following years when central bank cooperation was mostly reduced to technical matters. Considerable attention is devoted to the much criticized activity of the BIS during World War II. The book then deals with the intensive central bank cooperation from the recreation of Europe's multilateral payments in the 1950s and for the support of the Bretton Woods system in the 1960s. The last chapter is devoted to the involvement of central banks in the first timid steps towards European monetary unification and to the eurodollar market.

The European Economy Between the Wars provides a full and up-to-date economic history of Europe in the inter-war period. The authors place the Great Depression of 1929-33 and the associated financial crisis at the centre of the narrative, and present these as both the culmination of the economic consequences of the First World War, the post-war peace treaties, and the policies and practices of the 1920s, and as a powerful influence on the subsequent economic history of the 1930s. In describing and explaining these developments, the authors show that errors in international economic policy, especially the commitment to the gold standard, were a principal cause of both the deep crisis and the partial recovery. The overall theme is illustrated at every point by a discussion of similarities and contrasts in the economic history and policies of individual countries, large and small. The basic approach is chronological, the style is clear and straightforward, and the book is accessible to students in a range of disciplines. The work takes full account of recent research, and there is an annotated guide to further reading with a substantial bibliography.

The European Economy between the Wars, (OUP, 1997) has become the definitive economic history of Europe in the inter-war period. Placing the Great Depression of 1929-33 and the associated financial crisis at the center of the narrative, the authors comprehensively examined the lead-up to and consequences of the depression and recovery. Peter Temin and Gianni Toniolo (their former co-author, Charles H. Feinstein, has died) now expand their scope to include the entire world economy, and have created a new edition: The World Economy between the Wars. New material focuses on the structure of the world economy in the 1920s, including a special focus on the United States, Japan, and Latin America. In addition, chapters that discuss the post-depression recovery now cover The New Deal and recovery in general in the United States and Japan. This new edition is a necessary update, and invaluable resource for those who desire an overview of the inter-war area beyond the usual discussion of the 1929 stock market crash. The book's broad geographic coverage, as well as its clarity and chronological execution, will appeal to students of economic history, as well as those academics in other fields whose research involves the inter-war period.