Valli Vittorio

Valli Vittorio
Università degli Studi di Torino | UNITO · Dipartimento di Economia e Statistica "Cognetti de Martiis"

laurea in economia e commercio Università Bocconi

About

42
Publications
30,910
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Introduction
Vittorio Valli, emeritus professor in Economic Policy. Graduated in Economics at Bocconi University in 1965, Master of Arts in Economics at Berkeley, I taught at Bocconi and at the Universities of Padua and Turin. I was the first president of AISSEC and EACES, the Italian and European associations of comparative economics. Since the 1960s I have explored the problems of economic policy and of labor economics and the theoretical and empirical complexities of the theory of growth and of development. Country studies and comparative economic development have then become the main objects of my research. Now I am working on the US and the Chinese economies in a comparative perspective. Further information on my work and my research projects can be found in .
Additional affiliations
December 2014 - present
Università degli Studi di Torino
Position
  • Professor Emeritus of Economic Policy

Publications

Publications (42)
Preprint
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Chapter
Technology is a key factor for economic development and economic power. This chapter tries to evaluate the sources and the impact of technological power and its changes in the US and China in the 2000–2018 years in a comparative way. The analysis of capital accumulation, education, R.&D. activities, learning by doing processes, industrialization an...
Preprint
Full-text available
The main thesis of this note is that Italy and several other Western countries, such as Belgium, Spain, the United Kingdom, France, Sweden and the United States, have not learned to react as promptly and vigorously as Eastern Asia to the devastating advancement of the pandemic. Consequently, they have paid a much higher toll in terms of deaths and...
Preprint
Full-text available
Coronavirus. Abbiamo voluto sbattere la testa contro il muro Vittorio Valli 13-4-2020 Dicevano i miei genitori, "voi giovani non ascoltate mai chi ha più esperienza di voi, dovete prima sbattere la testa contro il muro…" Non solo i giovani, ma anche i governanti e i loro paesi fanno spesso così. E così hanno fatto quasi tutti i paesi occidentali...
Article
Full-text available
The paper illustrates the rapid economic ascent of the United States from 1870 to 1913 and the consolidation of the American economic leadership in the years 1914-50 despite “the lost decade” succeeded to the 1929 Wall Street crash. The advantages associated to the “frontier” in the first period, and to the great size of the American economy and th...
Conference Paper
Full-text available
After the second World War, the United States was the economic and financial world leader. Yet, since the 1980s the situation has been gradually, but inexorably changing. The main factor of change consisted in the rapid economic ascent of China. While the US entered a phase of rapid de-industrialization, China massively industrialized. Since 2016 t...
Book
The book provides an illuminating survey of the main features of the periods of rapid economic development in China since 1978 and in India since 1992. The two giant emerging Asian economies are analyzed in a comparative perspective: their points of strength and main weaknesses are critically discussed. China has grown and industrialized much more...
Book
How was possible for Japan to become one of the major economic powers in the world, for Indonesia to reach the eigth position for total GDP in PPA , and for South Korea to become an important technological hub and a great net exporter of goods such as PCs, chips, mobile phones, automobiles and ships? The book analyzes the different development path...
Book
‘This is essential reading for anybody interested in global history.’ —Professor Ugo Panizza, The Graduate Institute of Geneva, Switzerland This illuminating book offers a compact survey and new interpretation of trends and policies in the US economy from the end of the nineteenth century to the initial period of the Trump administration. Valli map...
Chapter
Since the end of the 1940s, gradual, creeping, and important weaknesses have affected the great economic mechanism of the US. There was a rapidly growing energy dependence from abroad, partially compensated in recent years by the rising production of shale gas and shale oil in the US; a progressive increase in pollution; prolonged phases of relativ...
Chapter
The attempt at reacting to the main structural weaknesses of the American economy and to the crisis of the Fordist model of growth led the US to accelerate the process aimed at the creation of a global economic empire, which could greatly favor the growth of US giant multinationals and main financial groups. The chapter presents the main tools and...
Chapter
At the beginning of the twentieth century, the advantages of the frontier were fading away, but the US was able to react and began since 1908 to benefit from the Fordist model of development. This concept, which I introduced in 2002, is derived from Gramsci’s concept of Fordism, but it is mainly focused on its potential macro-economic aspects. In t...
Chapter
The chapter analyses the main factors contributing to the rapid demographic and economic expansion of the US economy in the years 1870–1913. The main focus is on the advantages associated to the existence of the frontier, with its abundant and partially untapped national resources. The frontier made possible to increase immigration flows and popula...
Chapter
The chapter gives a concise survey of the Wall Street crash, the great depression, and the difficult recovery in the period of the New Deal. It also provides some of the most relevant interpretations of the causes of the great depression, adding other ingredients: the stock-flow relations, the backward functioning of the Fordist model of developmen...
Chapter
The chapter analyzes the economic policy of Donald Trump and its impact on the American economy in the first 18 months of his presidency. It begins by defining Trump’s particular kind of populism, that we have called Trumpism, and by reminding some of his major links with economic and financial power. We examine then the implications of Trump’s Ame...
Chapter
The chapter presents the main aspects of the US financial and real crises that subsequently spread to many other industrialized countries. The great recession originated from the 2007 US sub-prime crisis, which however had several deeper causes: the structural difficulties in the US balance of current accounts, the rising economic inequalities, and...
Chapter
After the end of the Second World War in the US, there was a gradual return to the Fordist model of development that, since the 1950s, had been fully operating also in several Western European economies, such as France, West Germany, Italy, Netherlands, and so on, as well as in Japan, while in the UK, it was contrasted by the severe economic conseq...
Chapter
The chapter analyses Obama’s main ideas in the field of economics; his reaction to the great recession; and his policies about international economic relations, industry and innovation, environment, education, and health (Obamacare). Obama’s policy during the great recession was, for some aspects, a neo-Keynesian one. He used a mix of expansionary...
Chapter
The chapter presents the main determinants of economic growth and their relevance in the US economy in the period 1950–2017. A rapid capital accumulation, accompanied by substantial technological progress and a strong rise in knowledge, can determine a good economic performance. There is, however, a complex feedback between these three determinants...
Chapter
The chapter analyzes the major points of strength of the American economy and, more generally, the global power of the United States of America, given by the combination of economic, financial, military, and political power. There is also the attempt at measuring changes in economic power in the US and in other major economies through a new index:...
Chapter
Much has been written about America’s decline and indeed in the 2000s the US economy has shown a relative economic decline, while wars and social and political tensions have reduced its inner solidity and its international appeal. Nonetheless, the US remains the top economic, financial, political, and military power in the world. Many factors, howe...
Article
The 2007-2015 crisis has been the most devastating economic depression in the last seven decades. It has struck in different ways and with different amplitude the US and most European countries. In most countries it has been a double crisis (financial and real), but in Eurozone's financially vulnerable countries it has also badly worsened public fi...
Chapter
Full-text available
The paper (in Italian) regards the main economic trends of the Italian economy in the 1973-2013 period and suggests some new economic policies in order to face both the structural crisis and the current severe crisis.
Article
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Japan’ economy has experienced a period of very rapid economic growth in the 1950-1973 years, a partial slowing down of the rate of growth up to the end of the 1980s and then a prolonged severe structural crisis in the last two decades. The paper gives an overview of Japan’s main economic trends and policies in the post-war period and tries explain...
Article
Full-text available
There has been a large debate on the relations between demography and economic development. Our paper discusses the possibility that there exists an inverted-U curve, similar in shape to Kuznets’s curve, between the growth rate of population and the growth rate of the per-capita GDP. The cross-country empirical analysis, carried out on over 90 coun...
Article
Full-text available
Angus Maddison's contribution to the analysis of long-run developments in the world economy has been monumental. His continuous cumulative work on an ever expanding data-set of national accounts and his in-depth analysis of changes in the main trends in the world’s economic history has given us fundamental tools for a better understanding of past s...
Article
Full-text available
The comparison of the periods of rapid economic growth in China since 1978 and India since 1992 markedly show different patterns of development and structural change. However, both countries experienced some advantages of "relative economic backwardness" and some aspects of the "fordist model of growth". China had an anticipated and deeper structur...
Article
The main thesis of the paper is that, while the US economy has widely adopted a fordist model of growth since 1908, and this has largely contributed to the building and consolidation of its economic pre-eminence, Japan and most Western European countries have adopted it mainly in the 1950-1973 period, the golden age of European and Japanese growth,...
Article
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Editors' Introduction to the symposium "Comparing China and India: Structural Change and Development"
Article
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The aim of this article is to report on an experiment in publishing an open access journal and learn from it about the larger field of open access publishing. The experiment is the launch of the European Journal of Comparative Economics (EJCE), an on-line refereed and open access journal, founded in 2004 by the European Association for Comparative...
Article
Full-text available
Editors' Introduction to the symposium "Comparing China and India: Structural Change and Development"
Article
Full-text available
The chapter contains an analysis of the long-run trend and policies of South Korea’ s economy. The main thesis is that a combination of historical events, wise industrial policies and the great effort of families, the state and enterprises to enhance the level of human capital and of technological progress, have strongly contributed to determine th...
Article
Full-text available
The world economy has experienced very large secular changes. The paper's objective is to describe some of the main features of world economic changes in the last decades of the XIXth century and in the XXth Century, with particular regard to the last fifty years and to the rise and decline of the fordist model of growth in the main industrialized...

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