The Rise and Fall of the Italian Economy

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Carlo Bastasin (Libera Università Internazionale degli Studi Sociali Guido Carli, Roma) Gianni Toniolo (Duke University, North Carolina)

The Rise and Fall of the Italian Economy

Carlo Bastasin (Libera Università Internazionale degli Studi Sociali Guido Carli, Roma), Gianni Toniolo (Duke University, North Carolina)

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English

Cambridge University Press
07 September 2023

Economic history

Series: New Approaches to Economic and Social 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.

By: Carlo Bastasin (Libera Università Internazionale degli Studi Sociali Guido Carli Roma), Gianni Toniolo (Duke University, North Carolina)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 236mm, Width: 159mm, Spine: 16mm
Weight: 420g
ISBN: 9781009235341
ISBN 10: 1009235346
Series: New Approaches to Economic and Social History
Pages: 211
Publication Date: 07 September 2023
Audience: General/trade , ELT Advanced
Format: Hardback
Publisher's Status: Active

Preface; 1. Italy's parabola, 1861-2022; 2. Political unification and slow growth; 3. Convergence and sorpasso; 4. The trauma of 1992; 5. The lost opportunity, 1996-2007; 6. Sliding toward zero growth; 7. The canary in the coalmine.

Carlo Bastasin is a Senior Fellow and Professor of European Economic Governance at the LUISS University in Rome and a non-resident Senior Fellow at the Brookings Institution in Washington. Gianni Toniolo was Senior Fellow at LUISS University School of European Political Economy; Professor of Economic and History Emeritus at Duke University; Research fellow at CEPR.