The Reasons for Underdevelopment: The Case of Decolonisation by Donatella Strangio

By Donatella Strangio

The historical past of Italian colonial affairs has lately attracted renewed curiosity from historians and economists. it's a advanced and concerned query. during the last few years, notwithstanding possibly somewhat later than the extra mature historiography of alternative ecu international locations, the paintings of a few very important students has unfolded new fields of research and examine. fresh experiences have attempted to examine in higher intensity the operating mechanisms of the colonial approach, broadening the sector of research additionally to the viewpoint of African international locations and the political-economic equilibriums of the second one half the twentieth century. This examine matches into this region of study and analyses an important features of the decolonisation of Somalia, the heritage of the presence of Italian banking in Somaliland; family among Italian and Somali associations; Italian political-monetary regulations throughout the reconstruction and the 1st fiscal boom.

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3051, fasc. 1, pp. 49–51. , n. 1008, fasc. 2. 3 The Role of the Banca d’Italia in the Period of the Trusteeship 25 decimal system, thus maintaining the same parity and therefore the somalo’s exchange rate for other currencies. The actual creation of a new currency and the authorization of its issue took time and in any case economic, social and psychological reasons advised against a change of currency in a short time. In 1950 it had not been possible to delay the introduction of the new currency as the money circulating in the country was also legal tender in other countries.

A Special Bank and a Central Bank were created within the Somali Cassa, both with headquarters in Rome and another local branch at Mogadishu. The Special and Central Banks became two distinct parts of the Banca d’Italia; they worked for the Somali Cassa in the same way they functioned for the Banca d’Italia. 59 The notes printed by the Poligrafico (state printing office) and coins forged by the mint were delivered to the Special Bank of the Banca d’Italia, which took responsibility for them in its role as Special Bank for the Cassa per la Circolazione 55 Ibidem.

1, “Relazione al Consiglio Superiore in merito alla Cassa della circolazione monetaria della Somalia” edited by Palamenghi-Crispi of the Servizio Studi Economici della Banca d’Italia and dated 11 May, 1950. , n. 976, fasc. 1, “Schema di lettera della Banca d’Italia al Ministero dell’Africa Italiana – Direzione Generale Affari Politici”. 38 ASBI, Banca d’Italia, Studi, pratt. n. 548, fasc. 1, pp. 33–38, “VII Convegno Economico Italo Africano, pp. A (Centro Economico Italia Africa))”; ASBI, Banca d’Italia, Studi, pratt.

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