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Reappraising State-Owned Enterprise by Pier Angelo Toninelli, Robert Millward, Franco Amatori

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5

Size, Boundaries, and Distribution of Italian State-Owned Enterprise (1939–1983)

Pier Angelo Toninelli and Michelangelo Vasta

INTRODUCTION

For the most part of the last century, the role of state-owned enterprises (SOEs) was probably more pronounced, continuous, and prolonged in Italy than elsewhere in the West: in 1990, the economic weight of the public sector was still around 20% of gross national product (GNP) (Malgarini 2000). This was the response to the fact that Italian economic growth had long been penalized by structural frailties such as a narrow internal market, a shortage of capital, financial weakness, and a decline of entrepreneurial initiative and the state. Yet, as shown in a previous chapter (see Amatori and Toninelli, Chapter ...

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