The most common and most likely answer to this crossword clue is the 8 letter word TRECENTO
I've seen this crossword clue in The Guardian
T
R
E
C
E
N
T
O
More clues leading to the result TRECENTO
Buddy explains!

The straight part
We know that "14th century in Italy" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case 14th century in italy = trecento.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TRECENTO mean?
TRECENTO noun- The fourteenth century AD; particularly, the style of Italian art associated with the 1300s