Abstract
The Bank of Italy was founded at the end of the nineteenth century (with Law no. 449 of 10 August 1893) in the context of a deep revision of the issuing banks existing at the time.1 Its establishment took place following the merger by incorporation of the National Bank and the Tuscan Bank of Credit for Industry and Commerce into the National Bank of the Kingdom of Italy, and the establishment of three institutions (Bank of Napoli, Bank of Sicilia and Bank of Italy) with the power to coin money and marked a particularly important stage in the evolution of Italy.2
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Notes
On this aspect of Italian economic history see Cafagna (1969) “La formazione di una ‘base industriale’ fra il 1896 e il 1914”, in caracciolo (ed.) La formazione dell’Italia industriale (Bari: Laterza), p. 137 ss. More general see R. Romeo (1961) Breve storia della grande industria in Italia (Bologna: Il Mulino); R. Romeo, La rivoluzione industriale dell’età giolittiana, in La formazione dell’Italia industriale, cit., p. 115 ss. For an analysis of the causes of delay in the process of industrialization of Italy than the other countries in the West, see P. Saraceno (1976) La radici della crisi economica (Rome: Svimez), p. 2.
See Hilferding (1961) Il capitale finanziario (Milan: Feltrinelli), which addressed, among the first, the analysis on the impact of financial accumulation on the composition of the markets, so opening the way deepening of rules that can protect savings and to ensure the formation, hence the need to introduce appropriate forms of control on banking.
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© 2015 Francesco Capriglione
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Capriglione, F. (2015). The Bank of Italy. In: Siclari, D. (eds) Italian Banking and Financial Law. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137507532_7
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DOI: https://doi.org/10.1057/9781137507532_7
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