The Two Souths of Alfredo Del Monte

digital

Article

Magazine

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI

Fascicle

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2021 - 2

Title

The Two Souths of Alfredo Del Monte

Author

Giacomo Costa

Publisher

Vita e Pensiero

Format

Article |

Pdf

Online from

06-2021

Doi

10.26350/000518_000070

Issn

0035-676X (print) | 1827-7918 (digital)

€ 6.00

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Description

Del Monte’s book deals with the convergence among different and heterogeneous areas of a single country. He has adopted a comparative approach: the two less developed areas are the two Souths, Italy, and the USA. Its purpose is to explain the fact that the famous convergence thesis of neo-classical growth theory holds for the American South but not for the Mezzogiorno. In a first approximation, the answer lies in the fact that growth in the South of the USA and the Mezzogiorno followed two different patterns. In the former, the crucial role was played by manufacturing and exports, while in the latter by public expenditure and other fiscal transfers. This explanation needs some further clarifications, which indeed are given in the book. Special attention is given to cultural and institutional as distinct from strictly economic factors in the development processes.

keywords

Developing countries, Regional development, Institutions and growth, Growth convergence.

Author biography

Giacomo Costa, in precedenza professore ordinario di Economia Monetaria presso il Dipartimento di Scienze Economiche dell’Università di Pisa. Email: giacomocosta4@gmail.com.