In 2012 the Italian Parliament introduced into Italian law a special section in the Companies Register and a large number of financial incentives to create a favorable environment for the development of ‘innovative start-ups' (ISUPs). In this paper we compare ISUPs with other start-ups. In...

This paper analyzes firms' difficulties in accessing credit before and during the crisis, by focusing on two of their characteristics: financial fragility and growth prospects. Our econometric analysis indicates that fragile financial conditions were associated with a much higher than average...

Italy is the European country where firms with fewer than 10 employees account for the largest share of value added and employment. On the basis of data from the company balance sheets and the Central Credit Register during the period 2003-2010, this work contributes to the analysis of these...

Nel 2015 i prestiti bancari sono cresciuti per le imprese di maggiore dimensione mentre hanno continuato a contrarsi per quelle più piccole; questo divario si osserva anche per le aziende appartenenti allo stesso settore di attività economica o con condizioni di bilancio simili. Stime...

This paper studies the characteristics of the recent evolution of loans to non-financial firms in Italy from an historical perspective, with the aim of ascertaining whether the ongoing recovery is creditless; the main demand- and supply-side determinants of credit are also discussed. We find the...