A Sectoral Analysis of Italy's Development, 1861-2011

85 Pages Posted: 26 Mar 2013

See all articles by Stephen N. Broadberry

Stephen N. Broadberry

London School of Economics & Political Science (LSE)

Claire Giordano

Bank of Italy

Francesco Zollino

Bank of Italy

Date Written: October 25, 2011

Abstract

Italy's economic growth over its 150 years of unified history did not occur at a steady pace nor was it balanced across sectors. Relying on an entirely new input (labour and capital) database by us built and presented in the Appendix, together with new Banca d'Italia estimates of GDP by sector, this paper evaluates the different labour productivity growth trends within the Italian economy's sectors, as well as the contribution of structural change to productivity growth. Italy's performance is then set in an international context: a comparison of sectoral labour productivity growth rates and levels within a selected sample of countries (UK, US, Germany, Japan, India) allows us to better time, quantify and gauge the causes of Italy's catching-up process and subsequent more recent slowdown. Finally, the paper analyses the proximate sources of Italy's growth, relative to the other countries, in a standard growth accounting framework, in an attempt also to disentangle the contribution of both total factor productivity growth and capital deepening to the country's labour productivity dynamics.

Keywords: labour productivity, sectoral disaggregation, international comparison, growth accounting

JEL Classification: N10, N30, O47, O57

Suggested Citation

Broadberry, Stephen N. and Giordano, Claire and Zollino, Francesco, A Sectoral Analysis of Italy's Development, 1861-2011 (October 25, 2011). Bank of Italy Economic History Working Paper No. 20. Available at SSRN: https://ssrn.com/abstract=2239016 or http://dx.doi.org/10.2139/ssrn.2239016

Stephen N. Broadberry

London School of Economics & Political Science (LSE) ( email )

+44 0 24 7652 3446 (Phone)
+44 0 24 7652 3032 (Fax)

Claire Giordano (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

Francesco Zollino

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

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