Public incentives for firms: micro-level evidence
Diego Caprara (),
Amanda Carmignani () and
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Amanda Carmignani: Banca d'Italia
No 60, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area
This paper provides a statistical overview of the extent and composition of publicly-funded loans granted by banks to Italian firms. The analysis is based on the universe of reports to the Central Credit Register (CR). Between 1998 and 2007 the subsidized loans recorded by the CR amounted to about 0.3 per cent of GDP and involved approximately 27,000 firms, mainly limited companies. Our results confirm that publicly-subsidized loans are the most common type of subsidy in the Centre and North, while in the South non-returnable grants have traditionally been more predominant. Among the regions of the Centre and North, subsidies of this kind figure most prominently in Friuli Venezia Giulia, Veneto, and Trentino Alto Adige. The share of subsidized lending is greater among larger enterprises, especially agricultural firms and in industry excluding construction.
Keywords: firms; financial subsidies (search for similar items in EconPapers)
JEL-codes: G2 H2 R0 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_60_10
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