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An empirical investigation of the relationship between inequality and growth

Pagano, Patrizio - Banca d'Italia - 2004

This paper studies the correlation between inequality, measured by the Gini coefficent of incomes, and the growth rate … of per capita GDP in a panel of countries between the late 1950s and late 1990s. Inequality Granger causes growth with a … negative coefficient, while growth Granger causes inequality with a positive sign. Quantitatively, the former effect appears …

Persistent link: https://www.econbiz.de/10005609408

Financial subsidies and bank lending: substitutes or complements? Micro level evidence from Italy

Carmignani, Amanda; D'Ignazio, Alessio - Banca d'Italia - 2011

We exploit Italian Central Credit Register data to investigate the effectiveness of subsidized credit programs for public financing to firms via the banking system. The effect of public incentives depends on the availability of financial resources for the beneficiary firms. Financially...

Persistent link: https://www.econbiz.de/10009020148

The causal effect of credit guarantees for SMEs: evidence from Italy

D'Ignazio, Alessio; Menon, Carlo - Banca d'Italia - 2013

We evaluate the effectiveness of a partial credit guarantee program implemented in a large Italian region using unique microdata from a broad set of firms. Our results show that the policy was effective to the extent that it resulted in an improved financial condition for the beneficiary firms....

Persistent link: https://www.econbiz.de/10011099641

Infrastructure investments in the main emerging countries

Antonelli, Luca; Bencivelli, Lorenzo; Bucalossi, Annalisa; … - Banca d'Italia - 2014

This paper surveys the current conditions and prospects for the infrastructure sector in seven large emerging countries - Brazil, China, India, Indonesia, Mexico, Russia and Turkey - assessing the adequacy of their current infrastructural endowment and illustrating the latest government...

Persistent link: https://www.econbiz.de/10011100350

Financial inclusion - G20 initiatives and the role of the Bank of Italy

Gomel, Giorgio; Bernasconi, Fabio; Cartechini, … - Banca d'Italia - 2011

Financial exclusion concerns 2.5 billion individuals and more than 450 million enterprises. The G20 countries are committed to the reduction of this phenomenon. The Bank of Italy has a fundamental role in the field of financial inclusion, both on a national and an international scale through...

Persistent link: https://www.econbiz.de/10009193018

The Political Economy of Investor Protection

Tommasino, Pietro - Banca d'Italia - 2006

Why do some countries suffer from backward financial institutions and weak corporate governance rules? We show that, even if, overall, the economy would benefit corporate governance reforms, not all the agents would stand to gain from the improvement. In particular, entrepreneurs and firms that...

Persistent link: https://www.econbiz.de/10005609341

Ingredients for the New Economy: How Much does finance matter?

Bugamelli, Matteo; Pagano, Patrizio; Francesco Paternï¿½ - Banca d'Italia - 2001

investing in ICT than with the creation of new firms in ICT-producing sectors. Saying that finance is a major obstacle in Europe …

Persistent link: https://www.econbiz.de/10005609355

New policy challenges from financial integration and deepening in the emerging areas of Asia and Central and Eastern Europe

Rolli, Valeria - Banca d'Italia - 2008

economies of the two regions in terms of faster productivity growth and deepening of domestic financial markets. The strong …

Persistent link: https://www.econbiz.de/10005609420

Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices.

Giannetti, M. - Banca d'Italia - 2000

This paper examines how firm characteristics, the legal system and financial development affect corporate finance … play an important role in determining the extent of agency problems in corporate finance decisions. …

Persistent link: https://www.econbiz.de/10005486705

Finance, Human Capital and Infrastructure: An Empirical Investigation of Post-War Italian Growth

Ferri, G.; Mattesini, F. - Banca d'Italia - 1997

Post-war Italy provides an interesting case to test for recent contributions on economic growth which play down the … finance and human capital. In truth, behind the remarkable aggregate performance, substantial public intervention did not heal …

Persistent link: https://www.econbiz.de/10005486710