Regional Balanced Growth in Italy and the Increase in Oil Prices
The recent rise in fuel prices has had many diverse consequences both for the world economy and for domestic economies. Notwithstanding the fact that aggregate demands have been affected and that major attention is currently being focused on the inflationary and employment difficulties experienced by many economies, it is worth while to enquire into the effect that the oil price rise may have on regional development within an economy. The purpose of the present paper is precisely that, namely, to determine whether the oil price rise, itself, is a balancing or disequilibrating factor in regional development. Specifically, we put this question to the Italian economy in the reference period, 1951 to 1974. Certainly, the accentuated development of the Italian economy over the last twenty years has not been accompanied by a balance in economic differences within the regions and the sectors. The regional and sectoral differences which characterised the Italian economy during the 1950’s are still present and in some cases even more pronounced.
KeywordsFuel Price Poor Region Regional Price Price Rise Tertiary Sector
Unable to display preview. Download preview PDF.
- Brown, M., 1968, “The distribution of Sectoral Value-Added by Region in Italy, 1961–1968”, Discussion Paper 318, Dep. of Economics, State University of New York at Buffalo.Google Scholar
- Brown, M., Di Palma, M., Ferrara, B., 1972, “A regional-National Econometric Model of Italy”, Papers of the Regional Science Association, Vol. 29.Google Scholar
- Centro di studi e piani economici, 1974, “The effect on national economic structure determined by different variations in oil prices”, Ente Nazionale Idrocarburi (ENI), Roma.Google Scholar
- Jones, R.W., 1965, “The Structure of Simple General Equilibrium Models” in The Journal of Political Economy, LXXIII.Google Scholar
- Kraft, G., Willens, A.R., Kalev, J.B., Meyer, J.R., 1971, “On the definition of a depressed area” in Kain, J.F., Meyer, J.R., (eds.), Essays in Regional Economics, Harvard University Press.Google Scholar