Abstract
The white-goods industry is one of the key fields of Italian economic development following the Second World War, and it represents the most resounding example of how, in just a few years, Italian entrepreneurs managed to reach the top of a market already occupied by the largest foreign multinationals. This article offers a quantitative view of the role played by foreign markets during the ‘economic miracle’, which is generally taken to be the first five years of the European Common Market (1958–63). There is a lack of an aggregate study of this subject for the Italian white-goods industry. As well as supplying some starting points for new research into the rapid international success of Italian producers, this study has allowed two inter-connected objectives to be reached. Firstly, it has highlighted how intense the inter-dependence of foreign markets was when the Common Market was set up, and therefore before the date claimed by the literature: the first important process of the rationalisation of the sector and the consequent formation of a national oligopoly was the result of the battle with competitors in foreign markets. Secondly, it seems to confirm how the process of European integration was not a substitutive factor, but the accelerant for a process of development that had already started.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have