Notes on the rate of regional industrial growth in Italy, 1861-1913

The Institute of Economics will hold a seminar meeting as part of its Seminar Series on Tuesday, December 14, 2021: Carlo Ciccarelli from Tor Vergata University of Rome will present the paper "Notes on the rate of regional industrial growth in Italy, 1861-1913".

Abstract:

The paper offers a new perspective on the development of the Italian manufacturing industry and the possible determinants of the regional divide during the 19th century. The analysis is based on a rich set of value added data at 1911 prices disaggregated by regions and sectors. Out of 160 time series considered, a standard principal components analysis identifies just two common factors (essentially a rising trend and a long-term cycle) and an associated set of loading coefficients (tied to the absorptive capacity of regions and sectors) as sufficient to capture the main dynamics involved. The authors show in particular that both common factors fostered the industrial upsurge of the pre-WWI decade, while the well-known greater industrial vocation of most northern regions is accurately quantified by the differentials in the loading coefficients. Finally, the authors present some preliminary evidence suggesting that the loading coefficients of most advanced technological sectors were tied to preunification human capital accumulation.

The seminar will be held in blended mode. In person participation is possible and available seats are allocated on a first come first served basis. For online participation please use the following link.