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Financing long-term investment: ongoing initiatives and the main policy directions

Author

Listed:
  • Giuseppe Grande

    (Banca d'Italia)

  • Giovanni Guazzarotti

    (Banca d'Italia)

Abstract

The topic of financing long-term investment is on the top of the agenda of economic policy makers and it is among the priorities of the Italian Presidency of the European Union. The paper describes the main international initiatives in the field and highlights the three most promising courses of action: (i) the revival of bank lending, also through the resumption of securitisation; (ii) the promotion of non-bank finance, with incentives for risk capital, the development of specialised financial institutions and more detailed information on firms; (iii) the efficient use of public resources, through loan guarantees, tax incentives and European financial instruments.

Suggested Citation

  • Giuseppe Grande & Giovanni Guazzarotti, 2014. "Financing long-term investment: ongoing initiatives and the main policy directions," Questioni di Economia e Finanza (Occasional Papers) 238, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_238_14
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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2014-0238/QEF-238.pdf
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    More about this item

    Keywords

    long-term financing; investments; infrastructures; small and medium enterprises;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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