Advertisement

Abstract

At the end of the 1970s Italy’s financial system exhibited distinctive if not unique structural features. These reflected the country’s economic history and the way the system had been shaped after the war; they were especially evident when viewed as deviations from the pattern of developments in the financial sector in other countries. In two decades of change, they have been attenuated and transcended. This evolution can also be read as progress in the direction taken by the financial systems of the richer countries, if not towards convergence. Considering the initial conditions, it constitutes a veritable mutation; under the impetus of internal and external forces a national financial system inherited from a very particular history gave way to a new system with markedly different institutional structures.

Keywords

Foreign Exchange Pension Fund Public Debt Financial Asset Foreign Bank 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Notes

  1. 1.
    R.W. Goldsmith, Financial Structure and Development, Yale University Press, New Haven, CT, 1969.Google Scholar
  2. 2.
    J.G. Gurley and E.S. Shaw, Money in a Theory of Finance, Brookings Institution, Washington, DC, 1960.Google Scholar
  3. 4.
    A. Beneduce, Relazione del consiglio di amministrazione dell’ I.R.I. sul bilancio al 31 dicembre 1936, Rome, 1937.Google Scholar
  4. 5.
    D. Menichella, Scritti e discorsi scelti, 1933–1966, Banca d’Italia, Rome, 1986.Google Scholar
  5. 6.
    C. Mayer, ‘Financial Systems, Corporate Finance, and Economic Development’, in R.G. Hubbard (ed.), Asymmetric information, Corporate Finance, and Investment, University of Chicago Press, 1990.Google Scholar
  6. 7.
    G. Carli, Cinquant’anni di vita italiana, Laterza, Rome-Bari, 1993, pp. 386 ff.Google Scholar
  7. 8.
    A reconstruction of the events in Italy in the 1930s is in G. Toniolo, L’economia dell’Italia fascista, Laterza, Rome-Bari, 1980.Google Scholar

Copyright information

© Pierluigi Ciocca 2005

Authors and Affiliations

  • Pierluigi Ciocca

There are no affiliations available

Personalised recommendations