The Growth of the Italian Economy, 1861-1913: Revised Second-Generation Expenditure-Side Estimates

This paper presents revised expenditure-side constant-price historical national accounts for Italy from Unification to 1913. The extant estimates at 1911 prices by the present author on the one hand and Alberto Baffigi on the other are both derived from the better-documented production side, but with significantly different algorithms and results. The new estimates are based on the new, extensively revised production-side accounts; the underlying methodology remains the present author’s, arguably altogether sounder than Baffigi’s