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The Growth of the Italian Economy, 1861-1913: Revised Second-Generation Production-Side Estimates

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  • Fenoaltea, Stefano

Abstract

This paper presents revised production-side constant-price historical national accounts for Italy from Unification to 1913; these amend the extant estimates at 1911 prices by the present author on the one hand and Alberto Baffigi on the other. The time series are updated to allow for short-term movements of agricultural production, to include the results of recent research on industry, to remove conspicuous overestimates in the services sector, and more: estimated total product appears more volatile, and generally lower, than the extant series suggest.

Suggested Citation

  • Fenoaltea, Stefano, 2017. "The Growth of the Italian Economy, 1861-1913: Revised Second-Generation Production-Side Estimates," MPRA Paper 83508, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:83508
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    File URL: https://mpra.ub.uni-muenchen.de/87962/9/MPRA_paper_87962.pdf
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    References listed on IDEAS

    as
    1. Stefano Fenoaltea, 2011. "On the Structure of the Italian Economy, 1861-1913," Rivista di storia economica, Società editrice il Mulino, issue 1, pages 61-72.
    2. Toniolo, Gianni (ed.), 2013. "The Oxford Handbook of the Italian Economy Since Unification," OUP Catalogue, Oxford University Press, number 9780199936694.
    3. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861-1913: A Statistical Reconstruction. E. The Metalmaking Industries," Carlo Alberto Notebooks 416, Collegio Carlo Alberto.
    4. Stefano Fenoaltea, 2017. "The Growth of Italy's Apparel Industry, 1861-1913: A Statistical Reconstruction," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 315-350.
    5. Fenoaltea, Stefano, 2003. "Notes on the Rate of Industrial Growth in Italy, 1861–1913," The Journal of Economic History, Cambridge University Press, vol. 63(3), pages 695-735, September.
    6. Stefano Fenoaltea, 2015. "Industrial Employment in Italy, 1911: The Burden of the Census Data," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 225-246.
    7. Claire Giordano & Francesco Zollino, 2017. "Macroeconomic estimates of Italy's mark-ups in the long-run, 1861-2012," Quaderni di storia economica (Economic History Working Papers) 39, Bank of Italy, Economic Research and International Relations Area.
    8. Stefano Fenoaltea, 2016. "Fenoaltea on Industrial Employment in 1911: A Rejoinder," Rivista di storia economica, Società editrice il Mulino, issue 1, pages 113-118.
    9. Pollak, Robert A, 1985. "A Transaction Cost Approach to Families and Households," Journal of Economic Literature, American Economic Association, vol. 23(2), pages 581-608, June.
    10. Stefano Fenoaltea, 2002. "Production and Consumption in Post-Unification Italy: New Evidence, New Conjectures," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 251-300.
    11. Fenoaltea, Stefano, 2015. "The measurement of production movements: Lessons from the general engineering industry in Italy, 1861–1913," Explorations in Economic History, Elsevier, vol. 57(C), pages 19-37.
    12. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861-1913: A Statistical Reconstruction. B. The Extractive Industries," Carlo Alberto Notebooks 413, Collegio Carlo Alberto.
    13. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861 1913: A Statistical Reconstruction. J. The Utilities Industries," Carlo Alberto Notebooks 421, Collegio Carlo Alberto.
    14. Stefano Fenoaltea, 2000. "The Growth of Italy's Wool Industry, 1861-1913: A Statistical Reconstruction," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 119-146.
    15. repec:bdi:workqs:qse_8 is not listed on IDEAS
    16. Claire Giordano & Francesco Zollino, 2015. "A Historical Reconstruction of Capital and Labour in Italy, 1861-2013," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 155-224.
    17. Piero Bolchini & Pierluigi Ciocca & Marcello de Cecco & Giovanni Federico & Giuseppe Tattara & Gianni Toniolo & Vera Zamagni, 2006. "A proposito di Stefano Fenoaltea, L'economia italiana dall'Unità alla Grande Guerra (Bari-Roma, 2006). Interventi di:," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 331-331.
    18. Fenoaltea,Stefano, 2014. "The Reinterpretation of Italian Economic History," Cambridge Books, Cambridge University Press, number 9781107658080, October.
    19. Fenoaltea, Stefano, 1971. "Railroads and Italian industrial growth, 1861-1913," Explorations in Economic History, Elsevier, vol. 9(1), pages 325-351.
    20. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861-1913: A Statistical Reconstruction. C. The Non-metallic Mineral Products Industries," Carlo Alberto Notebooks 414, Collegio Carlo Alberto.
    21. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861 1913: A Statistical Reconstruction. F. The Engineering Industries," Carlo Alberto Notebooks 419, Collegio Carlo Alberto.
    22. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861-1913: A Statistical Reconstruction. D. The Chemical, Coal and Petroleum Products, and Rubber Industries," Carlo Alberto Notebooks 415, Collegio Carlo Alberto.
    23. Broadberry, Stephen & Giordano, Claire & Zollino, Francesco, 2011. "A Sectoral Analysis of Italy's Development: 1861 -2010," CAGE Online Working Paper Series 62, Competitive Advantage in the Global Economy (CAGE).
    24. Fenoaltea, Stefano, 1969. "Public Policy and Italian Industrial Development, 1861–1913," The Journal of Economic History, Cambridge University Press, vol. 29(1), pages 176-179, March.
    25. Stefano Fenoaltea, 2012. "The Growth of the Italian Economy, 1861-1913: The Expenditure Side Re-(and De-)constructed," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 285-318.
    26. Riccardo De Bonis & Fabio Farabullini, & Miria Rocchelli & Alessandra Salvio, 2012. "A Quantitative Look at the Italian Banking System: Evidence from a New Dataset since 1861," Quaderni di storia economica (Economic History Working Papers) 26, Bank of Italy, Economic Research and International Relations Area.
    27. Fenoaltea, Stefano, 1988. "International resource flows and construction movements in the atlantic economy: the kuznets cycle in Italy, 1861–1913," The Journal of Economic History, Cambridge University Press, vol. 48(3), pages 605-637, September.
    28. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861-1913: A Statistical Reconstruction. A. Introduction," Carlo Alberto Notebooks 412, Collegio Carlo Alberto.
    29. Vera Zamagni, 2016. "Fenoaltea on Industrial Employment in 1911: A Reply," Rivista di storia economica, Società editrice il Mulino, issue 1, pages 109-112.
    30. Stefano Fenoaltea, 2010. "The reconstruction of historical national accounts: the case of Italy," PSL Quarterly Review, Economia civile, vol. 63(252), pages 77-96.
    31. Fenoaltea, Stefano, 2005. "The growth of the Italian economy, 1861–1913: Preliminary second-generation estimates," European Review of Economic History, Cambridge University Press, vol. 9(3), pages 273-312, December.
    32. Stefano Fenoaltea, 2002. "Textile production in Italy, 1861-1913," Rivista di storia economica, Società editrice il Mulino, issue 1, pages 3-40.
    33. Stefano Fenoaltea, 2001. "The Growth of Italy's Cotton Industry, 1861-1913: a Statistical Reconstruction," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 139-172.
    34. Stefano Fenoaltea, 1976. "Real Value Added and the Measurement of Industrial Production," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 5, number 1, pages 111-137, National Bureau of Economic Research, Inc.
    35. Stefano Fenoaltea, 2015. "Italian Industrial Production, 1861 1913: A Statistical Reconstruction. K. The Construction Industries," Carlo Alberto Notebooks 422, Collegio Carlo Alberto.
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    Citations

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    Cited by:

    1. Stefano Fenoaltea, 2018. "Spleen: the failures of the cliometric school," HHB Working Papers Series 14, The Historical Household Budgets Project.
    2. Emanuele Felice, 2019. "Rethinking the take-off: the role of services in the new economic history of Italy (1861–1951)," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 13(3), pages 405-442, September.
    3. Fenoaltea, Stefano, 2018. "The Growth of the Italian Economy, 1861-1913: Revised Second-Generation Expenditure-Side Estimates," MPRA Paper 88016, University Library of Munich, Germany.
    4. Fenoaltea, Stefano, 2020. "Reconstructing The Past: Italy's Historical National Accounts, 1861-1913," MPRA Paper 98350, University Library of Munich, Germany.
    5. Fenoaltea, Stefano, 2020. "Reconstructing The Past: The New Production-Side Estimates For Italy, 1861–1913," MPRA Paper 99307, University Library of Munich, Germany.
    6. Fenoaltea, Stefano, 2020. "Reconstructing The Past: The Measurement Of Aggregate Product," MPRA Paper 97042, University Library of Munich, Germany.
    7. Fenoaltea, Stefano, 2018. "The Growth of the Italian Economy, 1861−1913: The Composition Of Investment," MPRA Paper 88138, University Library of Munich, Germany.

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    More about this item

    Keywords

    Measurement; pre-WW1 Italy; GDP;
    All these keywords.

    JEL classification:

    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N53 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: Pre-1913
    • N63 - Economic History - - Manufacturing and Construction - - - Europe: Pre-1913
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913

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