After unification (1861) Italy had to face a badly integrated and oddly structured financial system as well as some fragmented or lacking institutions. The financial position of the country was characterised by double deficit in public and external balance. That caused several monetary and financial difficulties. In particular, mon- etary and banking institutions had to be step-by-step integrated and reorganised to support economic development in this new economic space. Luigi Luzzatti has been one of the main protagonists of this process of institution building. Besides his com- mitment with trade tariff negotiation and a variety of initiative in industry and envi- ronmental protection, he dedicated a wide effort to monetary institutions. He was one of the main supporters of the “Latin Monetary Union”, which lasted from 1865 to 1928 and contributed to reforms dealing with the problem of the plurality of emis- sion banks and of their control. Luzzatti also engaged in the development of “popular banks” to contribute to the structuring of the credit system from the bottom.

Luigi Luzzatti and the making of the Italian monetary system

stefano solari
2020

Abstract

After unification (1861) Italy had to face a badly integrated and oddly structured financial system as well as some fragmented or lacking institutions. The financial position of the country was characterised by double deficit in public and external balance. That caused several monetary and financial difficulties. In particular, mon- etary and banking institutions had to be step-by-step integrated and reorganised to support economic development in this new economic space. Luigi Luzzatti has been one of the main protagonists of this process of institution building. Besides his com- mitment with trade tariff negotiation and a variety of initiative in industry and envi- ronmental protection, he dedicated a wide effort to monetary institutions. He was one of the main supporters of the “Latin Monetary Union”, which lasted from 1865 to 1928 and contributed to reforms dealing with the problem of the plurality of emis- sion banks and of their control. Luzzatti also engaged in the development of “popular banks” to contribute to the structuring of the credit system from the bottom.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11577/3383768
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