Bahtaraeva Karina
The role of the credit control system and exchange rate policy in Italy’s economic modernization
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ISSN 2075-1915

This article analyses the main phases and instruments of Bank of Italy monetary and exchange rate policy, which substantially influenced the process of economic modernization in Italy during 1950-1970. Special attention is given to the analysis of credit control instruments and the policy of low real exchange rate. The instruments of credit control were used to transfer private savings to the state financing of investments and investment loans, supported low levels of interest rates, allowing private and state enterprises to attract investments and provided accessible and sufficient loans. The low real exchange rate promoted export growth. 


Keywords: Bank of Italy | credit control |

Russian Science Citation Index



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