Italy's growth and decline, 1861-2011

The large body of new statistical data that became available after the 150th anniversary of Italy’s unification permits a re-examination of Italy’s economic growth. In the light of the changes in the institutions, in technological regimes and in the broad international context, update estimates of Italy’s gdp from 1861 to 2011-- at both the national and regional levels -- find that Italy’s economic growth has slackened considerably since the 1990s. Despite successes in long-term performance, the analysis suggests that the country is on the road to economic decline. Part of the problem lies in the failure of the southern regions to converge economically with the more highly developed central and northern regions.