2020/04/30 by Paolo Malanima · 1 citation
Economics, Econometrics and Finance · Social Sciences · #Historical Economic and Social Studies #Culture, Economy, and Development Studies #Italy: Economic History and Contemporary Issues
paper · doi:10.1093/acrefore/9780190625979.013.536
openalex publication_date 2020/04/30 · openalex created_date 2025/10/10 · openalex updated_date 2026/06/19
Abstract Italy played a central role in the Euro-Mediterranean economy during Antiquity, the late Middle Ages, and the Renaissance. Until the end of the 16th century, the Italian economy was relatively advanced compared with those of the Western European and Mediterranean countries. From the 17th century until the end of the 19th, GDP rose as the population increased. Yet per capita income slowly diminished together with real wages, urbanization, and living standards. Italy lost its central position in the Euro-Mediterranean world and, until the end of the 19th century, was a relatively backward area on the periphery of the most dynamic countries in the north and center of Europe. The Italian premodern economy represents a classic example of extensive growth or GDP growth without improvement in per capita income and living standards.