Business and State in the development of the steel industry in Spain and Italy (c.1880–1929)

In the mid-nineteenth century, the Spanish and Italian steel industries were significantly less developed than those of the more advanced countries in Europe. From the mid-1880s, heavy industry in these two countries experienced considerable growth, particularly the steel sector, due to two very different strategies. In the case of Italy, state intervention was so frequent and significant that it has even been referred to as an early state capitalism. In Spain, on the other hand, the sector’s development was based principally on the private initiative. This article seeks to shed light on the interaction between government institutions and business organisations in the implementation of the development strategies of the two countries.