The Industrial Reconstruction Policy and the European Integration in post-war Italy

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This study throw some light to the state holding system in Italy by examining the activity of the I. R. I., the biggest state holding company, in the post-war era. The historical documents of the Bank of Italy, State archive, IMF and BIS show that(1) the I. R. I. was decided to continue to exist after war because its ownership of numerous companies are useful to make and execute the investment program for the industrial reconstruction that was indispensable to gain the US government aid,(2) the Italian financial authority emphasized the international monetary cooperation and operated monetary policy to keep the stability in the value of money and increase the reserve,(3) the Italian authority also promoted the European integration and free trade in order to increase the Italian export and improve the competitiveness of Italian companies in international markets.