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ECONOMY OF ITALY
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Italy has a diversified industrial economy with high gross domestic product (GDP) per capita and developed infrastructure. According to the International Monetary Fund, the World Bank and the CIA World Factbook, in 2010 Italy was the eighth-largest e... |
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19TH AND EARLY 20TH CENTURIES
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The Unification of Italy in 1861-70 broke down the feudal land system that had survived in the South since Middle Ages, especially where land had been the inalienable property of aristocrats, religious bodies, or the king. The redistribution of land ... |
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FASCIST ERA
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Italy emerged from World War I in a poor and weakened condition. The National Fascist Party of Benito Mussolini came to power in 1922, at the end of a period of social unrest. During the first years of the new regime, the Fascist pursued a laissez-fa... |
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POST WORLD-WAR II ECONOMIC MIRACLE
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The Italian economy has had very variable growth. In the 1950s and early 1960s, the Italian economy was booming, with record high growth rates, including 6.4% in 1959, 5.8% in 1960, 6.8% in 1961, and 6.1% in 1962. This rapid and sustained growth was ... |
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FROM STAGFLATION TO STAGNATION
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The 1970s were a period of economic, political turmoil and social unrest in Italy. Unemployment rose sharply, especially among the young. By 1977 there were one million unemployed people under age 24. Inflation continued, aggravated by the increases ... |
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LATE 2000S RECESSION
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Members of the European Union signed an agreement known as the Maastricht Treaty, under which they pledged to limit their deficit spending and debt levels. However, a number of European Union member states, including Greece and Italy, were able to ci... |
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OVERVIEW
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In the post-war period, Italy was transformed from an agricultural based economy which had been severely affected by the consequences of World War II, into one of the world's most industrialized nations, and a leading country in world trade and expor... |
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NORTH-SOUTH DIVIDE
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Starting with the unification of Italy in 1861, a wide and increasing economic divide has been noticeably growing between the northern provinces and the southern half of the Italian state. In the early decades of the new kingdom, the lack of an effec... |
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ENERGY AND NATURAL RESOURCES
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Italy has few natural resources. There are no substantial deposits of iron, coal, or oil. Proven natural gas reserves, mainly in the Po Valley and offshore Adriatic, have grown in recent years and constitute the country's most important mineral resou... |
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AGRICULTURE
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The northern part of Italy produces primarily maize corn, rice, sugar beets, soybeans, meat, fruits and dairy products, while the south specializes in wheat and citrus fruits. Italy is the first or the second largest producer of wine in the world, an... |
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