Home  Journals  International Accounting  47(389) - 2015 December

Development of the world financial science: contribution of the Italian school of the 19th century and first half of the 20th century

Received: 22 August 2014

Accepted: 9 September 2014

Available online: 25 March 2016

Subject Heading: CHAPTER OF HISTORY

JEL Classification: 

Pages: 51-64

Importance The article points out that an in-depth study of the works of scientists belonging to the Italian school of finance of the 19th and the first half of the 20th centuries in the Russian modern economic science is quite a relevant objective.
     Objectives The study aims to prove the sizable contribution of representatives of this trend in the formation and development of the world scientific thought, in general, and financial science, in particular.
     Methods We studied the works of the Russian and foreign economists who have significantly contributed to the formation of financial science, systemized the views of the Italian financial school representatives, and characterized their importance for the economic science. The paper includes a retrospective analysis of tenets of the finance theory in the foreign science.
     Results Based on the study of the contribution of the Italian school of finance to the global scientific thought, the paper formulates a theoretical basis for a more systematic, credible and exhaustive examination of the global financial science development. The article points out that the study of the historical experience of the global financial science development, use of the legacy of scientific thought of the 19th and the first half of the 20th century may serve as a theoretical basis for the development of more productive strategies of financial policy of modern States.
     Conclusions We conclude about the need to rethink the legacy of the Italian school of finance as a prototype of financial science in the new political economy.

Keywords: Italian finance school, financial phenomenon, financial science, financial economy, public finance

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