On the occasion of the first centenary of the Institute, the Bank of Italy started a cultural initiative with the aim of carrying out and promoting historical studies on the origins, the institutional location and the role of the Bank in the Italian economy. The results of the research project were presented in the «Historical Series of the Bank of Italy».
This book collects the studies published in the volumes of «Documents Series». Throughout its history, through a process of acceleration and setbacks, the Bank of Italy has assumed the institutional characteristics and functions of the central bank, including supervision of the credit system, starting from the function of a discount and circulation bank that characterized the issuing institutions, and pursued objectives of general interest. The fundamental stages of Italy's Central Bank development are closely linked to the strengthening of the Bank's autonomy with respect to the Treasury's needs and in relations with credit institutions.
Operational autonomy has increased the effectiveness of its action in order to defend monetary and financial system stability. The action of the Institute has increased over time to increase competition in the financial system and expand the market area.
Antonio Fazio's Introduction traces some crucial passages from post-war monetary policy to today.
