This chapter analyses Italy’s external constraint vis a vis the changing structure of the world production and trade relations accounting also for the role of institutions and technology. We assume that structural heterogeneities and asymmetric power relationships are key drivers of the international performance of nations, industries and firms; they also play a role in explaining differences (and evolutionary patterns) in terms of nature, extent and effectiveness of national economic policies. Adopting a ‘history friendly’ perspective, our analysis highlights how changes in policy scenarios at the national-level are inextricably intertwined with changing trends in global capitalistic relations (Braudel, 1995). The evolving Italian policy landscape, thus, is explored along three major historical phases: i) the post-WWII ‘golden age’; ii) the structural crisis of the 1970s; iii) the nearly two decades of euro membership. In this context, the EMU build-up and its consequences in economic and policy terms can be interpreted (at least partly) as the outcome of a long journey made up of key turning points and continuous feedbacks between the national and the international dimension.

The Italian economy from WWII to the EMU: structural weaknesses and external constraints

Celi, Giuseppe
;
2020-01-01

Abstract

This chapter analyses Italy’s external constraint vis a vis the changing structure of the world production and trade relations accounting also for the role of institutions and technology. We assume that structural heterogeneities and asymmetric power relationships are key drivers of the international performance of nations, industries and firms; they also play a role in explaining differences (and evolutionary patterns) in terms of nature, extent and effectiveness of national economic policies. Adopting a ‘history friendly’ perspective, our analysis highlights how changes in policy scenarios at the national-level are inextricably intertwined with changing trends in global capitalistic relations (Braudel, 1995). The evolving Italian policy landscape, thus, is explored along three major historical phases: i) the post-WWII ‘golden age’; ii) the structural crisis of the 1970s; iii) the nearly two decades of euro membership. In this context, the EMU build-up and its consequences in economic and policy terms can be interpreted (at least partly) as the outcome of a long journey made up of key turning points and continuous feedbacks between the national and the international dimension.
2020
9780367260293
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11369/379927
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