The Italian financial system in the mid-1990s: a difficult transition

M. Sarcinelli
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M. Sarcinelli: Banca Nazionale del Lavoro, Rome (Italy)

Banca Nazionale del Lavoro Quarterly Review, 1996, vol. 49, issue 196, 3-35

Abstract: The Italian financial system is in a transition period searching for an effective compromise between German-style universal banking and the Anglo-American market-oriented system. This was stimulated by the European Community directives and the modernisation of the Italian finance market. The Italian economy, which has been very bank-centred, has gone through major changes due to strong competitive pressures arising from liberalisation and removal of constraints. The transformation being sought can be undertaken by fostering efficiency through competition without sacrificing the stability of industrial capitalism.

Keywords: Financial Services; Italian financial system; Financial markets; European Union (search for similar items in EconPapers)
JEL-codes: E58 G20 (search for similar items in EconPapers)
Date: 1996
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