Italian «economic miracle»: successful experience in managing post-war recovery

Abstract

The research is based on the historical experience of rebuilding Italy’s economy, destroyed as a result of World War II. The purpose of the article is historical and economic assessment of the process of restoration of the Italian economy in the post-war period for extrapolation of this experience in the revival of the economy of Ukraine at the present stage. The study results in analysis of the main reforms, highlighting the peculiarities of the Italian government’s economic policy and revealing the consequences of internal and external efforts in economic recovery, as well as substantiation of prospects of the use of this historical experience in modern Ukraine. The article analyzes the specifics of the post-war revival of the Italian economy by the government of Christian Democrats, who introduced a policy of strict regulation of the monetary system, state intervention in industrial policy, promoted the development of innovative entrepreneurship, creation of high-tech industries. It was proved that the agrarian reform, which laid the foundations for the formation of efficient farm production, helped market reorientation of agriculture in general. Italian experience of leveling regional imbalances in economic development for national integrity and unity is useful for Ukraine. The correlation of external patronage influence and internal efforts in the rapid rise of the Italian economy, which was called «economic miracle», was revealed. It is justified to use the strategy of economic development of the post-war Italy in preparing programs of economic reconstruction of Ukraine destroyed by the aggressive war of Putin's russia.