Place-based policies and capital structure in the South of Italy

Mauro Aliano, Greta Cestari and Salvatore Madonna

Global Business and Economics Review, 2026, vol. 34, issue 1, 30-58

Abstract: Productivity gaps between northern and southern Italian regions have been widening over recent years. In this paper, we provide some evidence-based suggestions to support and boost the Italian Government's measures for reducing regional disparities, such as the special economic zone and other place-based fiscal measures to stimulate private investments. We found asymmetrical effects of using equity to increase tangible investment according to company size, and an inverted U-shape pattern for the impact of loans. We argue that the tax rules and benefits of SEZs and other measures should be coupled with a deeper knowledge of companies' capital structure peculiarities.

Keywords: capital structure; regional divide; special economic zones; SEZs; equity ownership; place-based policies. (search for similar items in EconPapers)
Date: 2026
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