Carlo Bottoni, Michele Cascarano, Iconio Garrì, Litterio Mirenda, Paolo Emilio Mistrulli, Dalia Maria Pizzillo, Davide Revelli, Tiziano Ropele
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引用次数: 0
Abstract
We analyze the geographical differences in the Italian firms’ access conditions to credit in the period 2010–19. In line with earlier studies, our econometric results confirm that firms headquartered in the South of Italy face worse borrowing conditions compared to similar firms in the Centre-North. Southern firms pay higher interest rates on loans and are more frequently asked to pledge their assets as collateral. Credit lines granted to them are also more fragile as banks are more prone to call them back. Those less favorable credit access conditions end up reducing credit demand. Finally, we document, in line with previous studies, that the gap in credit conditions is partly due to external diseconomies that are more severe in the South of Italy.
期刊介绍：
Italian Economic Journal (ItEJ) is the official peer-reviewed journal of the Italian Economic Association. ItEJ publishes scientific articles in all areas of economics and economic policy, providing a scholarly, international forum for all methodological approaches and schools of thought. In particular, ItEJ aims at encouraging and disseminating high-quality research on the Italian and the European economy. To fulfill this aim, the journal welcomes applied, institutional and theoretical papers on relevant and timely issues concerning the European and Italian economic debate.ItEJ merges the Rivista Italiana degli Economisti (RIE), the journal founded by the Italian Economic Association in 1996, with the Giornale degli Economisti (GdE), founded in 1875 and enriched by contributions from renowned economists, including Amoroso, Black, Barone, De Viti de Marco, Edgeworth, Einaudi, Modigliani, Pantaleoni, Pareto, Slutsky, Tinbergen and Walras.
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