Italian Financial Crises in the first era of Globalization (1870-1913). An overview

The economic and financial history of the unified Italy largely reflects the general pattern of an emerging economy on the European periphery. The fact that it was a late arrival to the European family of Nations, burdened with its relative backwardness and lack of economic integration explains the particular turbulence of its financial and economic development in the period between its unification and the WW1. International environment, idyosyncratic features and regulatory outcomes of the Italian crises will be analyzed and evaluated in comparison with more recent experiences.