Abstract
Autore:
Coltorti Fulvio
Titolo:
"Banche e Borsa valori nell’ Italia in transizione"
This paper examines the issues
and facts that have affected the banking
system and the Italian Stock Exchange during
the transition years, from 1945 to 1948 and
then in the years immediately following. Italy
in the last post-war period was a poor country
in which savings struggled to express substantial
flows of capital available for financial investment.
Savers’ own preferences were above
all for the most secure government bonds.
However, the banking system was kept stable
in the new regime dictated by the 1936 Banking
Act and thanks to the firm and competent
work of the Bank of Italy that always defended
the specialization of banks avoiding the mix
between short-term and medium- and longterm
financing. For this reason Mediobanca
was set up in 1946 as a body to complement
the operations of the major banks controlled
by iri. The good conditions of those years favored
an exceptional economic development
which for this reason was called economic
miracle. However those conditions did not reverberate
in the following years, those closest
to us. New facts have happened generating discontinuity,
but they are part of another story.
