{"title":"The Fruits of Disaggregation: The Engineering Industry, Tariff Protection, and the Industrial Investment Cycle in Italy, 1861-1913","authors":"S. Fenoaltea","doi":"10.2139/ssrn.3082189","DOIUrl":null,"url":null,"abstract":"All the extant interpretations of united Italy's early industrial development focus on the long swing in industrial investment evident in the familiar indices of the engineering industry's aggregate product. Disaggregated production series for that industry have now been compiled. The evidence they incorporate establishes that the long swing that dominates the aggregate was actually in the production of hardware, tied to investment in infrastructure. The production of machinery followed a different path: against the extant literature it shows that tariff hikes were influential, and above all that industry's purchases of (domestic and foreign) equipment grew very steadily decade after decade. Industrial investment did not grow faster than before in the 1880s or over the belle A©poque, it did not follow the long swing at all: the disaggregation of the engineering-industry product series has undercut the empirical premise of sixty years of scholarship.","PeriodicalId":135206,"journal":{"name":"ERN: Measurement & Data on National Income & Product Accounts (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"12","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ERN: Measurement & Data on National Income & Product Accounts (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3082189","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 12
分解的成果:1861-1913年意大利的工程工业、关税保护和工业投资周期
所有现存的对意大利早期工业发展的解释都集中在工业投资的长期波动上,这在我们熟悉的工程工业总产品指数中很明显。目前已编制了该工业的分类生产系列。他们整合的证据表明,主导整体的长期波动实际上是在硬件生产方面,与基础设施投资有关。机械生产走了一条不同的道路:与现有文献相反,它表明关税上涨是有影响的,最重要的是,工业对(国内和国外)设备的购买十年又十年地稳步增长。工业投资的增长速度并没有比19世纪80年代更快,也没有比belle A©poque更快,它根本没有遵循长期的波动:工程工业产品系列的分解削弱了60年来学术研究的经验前提。
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